Underwritten by Lloyd's · Policy LM/2024/8841
A lifetime,
in writing.
Every certificate Xene issues is accompanied by a transferable, indefinite guarantee of authenticity and mechanical grade — underwritten for the lifetime of the holder by Lloyd's of London under policy LM/2024/8841, brokered by Howden Specialty.
What is covered
Four heads of cover.
- 01
Authenticity
Should an item we have certified be proven inauthentic at any future date, Xene shall compensate the then-bearer at the prevailing market value, established by reference to two independent auction comparables.
- 02
Mechanical grade
If a coin, note, card or stamp is shown to fall outside the numeric grade printed on its certificate — under the same examination protocol used at the time of grading — Xene shall regrade and reimburse the differential in market value.
- 03
Holder integrity
Should the archival holder yellow, craze or fail under any reasonable storage condition within 100 years of issue, Xene shall re-encapsulate at no cost. The certificate remains in force throughout.
- 04
Registry continuity
The public registry entry is maintained in perpetuity. Replacement certificates are issued on a notarised declaration of loss for an administrative fee.
Mechanism
How a claim proceeds.
Most claims are resolved without recourse to the underwriter. The process is set out below for the rare occasion they are not.
- 01
Notification
Bearer writes to the Director of Guarantees with the certificate number, supporting evidence and a desk-top valuation.
- 02
Re-examination
Item is recalled to London at our cost. A fresh examination is conducted under the original protocol by two specialists who did not grade the item at issue.
- 03
Concurrence panel
Where re-examination differs from the original verdict, a three-person concurrence panel is convened — two on-staff specialists and one external consultant — and reaches a binding decision within twenty working days.
- 04
Settlement
Where the claim is upheld, settlement is paid within ten working days of the panel verdict. Where market value is contested, two auction comparables from the prior twelve months establish the benchmark.
- 05
Lloyd's referral
Should settlement be contested by either party, the matter is referred to the syndicate under the policy's arbitration clause.
Exclusions
What is not covered.
The guarantee is broad but not unconditional. The following exclusions are printed verbatim on the reverse of every certificate.
- ◆
Items that have been physically removed from the Xene holder by any party other than Xene staff. The sonic weld is the boundary of the warranty.
- ◆
Subsequent damage, alteration, cleaning, doctoring or restoration carried out after the date of certification.
- ◆
Items whose certification has been withdrawn under our Standards Review procedure (notified to the registered owner and published on the Population pages).
- ◆
Statutory force majeure: requisition by sovereign authority, acts of war, or judicial seizure.
Track record
Twelve years. Forty-one claims.
Since 2014 Xene has certified over 1.2 million items. Forty-one guarantee claims have been notified to the firm. Of these, thirty-three were upheld at first re-examination, four at panel stage, and four were dismissed. Total compensation paid: £6,840,221. Average claim settlement time: nineteen working days.
Full claim history is published annually in our Standards Review, available on request to certificate holders.
- 1,247,832
- Items certified
- 41
- Claims notified
- £6.84m
- Compensation paid
- 19
- Avg. settlement days
- 100yr
- Holder warranty
- ∞
- Certificate duration
To notify a claim
Write to the Director of Guarantees.
guarantees@xene.co.uk · +44 (0)20 7946 0021