However guys...lets not forget the whole concept of insuring for "replacement value" which is what i did for my house. This is a common practice with many things. If I sell my son my entire chip collection for $25.00 and then mail it to him, believe me i will insure it for the full actual value. That would be the replacement value. The same would be for many antiques. I could buy a chippendale chair at a garage sale for $2.00 but once i get it home, I would add a few zeros when talking to the insurance company. I would have no fraudulant intent, just merely insuring the piece for what it 's true value is. The actual amount that it would cost me to go out that day and replace it.