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boybacon
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Posts posted by boybacon
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Patience is a virtue. Impatience is a hinderance to the sufferer and to the sufferee. I have been sending in my coins through economy service over the last few months and I am more than happy to wait for them to arrive. I love it when the status changes and I know I'm getting closer to the "grading completed" stage! I understand for people who run coin shops or coin buying/selling businesses that "time is money", but even then, relax. Life is too short to be worried, impatient, waiting and angry all the time. Besides...if you're at a show called "FUN", for goodness sakes, have some fun!
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Hi.
What do you mean by "worthwhile"? I have sent in several coins where the additional cost of grading and encapsulation will exceed any financial "bump" of having a graded coin. The coins have more meaning to me, personally, than monetary value. The coins have histories and stories behind them. Being graded and in the plastic holder protects those coins and gives me an opportunity to display them and have people ask about the coins. Then they can get "the story behind the coin", as it were.
I also have coins that I purchased at a price that was (or at least I hoped was) less than the current value of a similar graded coin. Arbitrage is the fancy term...buying something at a low price and then selling it at a higher price to someone else. Technically not arbitrage, because I am adding value to the coin by having it graded, but the concept does apply.
There are also coins that are just easier to sell after they are graded. I have some Morgan dollars that I will have graded because I know that a Morgan in a holder with an assigned grade will sell higher than me putting it on an auction site and saying "it's a gem BU like super nice coin" or "it's an exceptional coin that's almost uncirculated and in good condition". There may be differences of opinion in the grade assigned by NGC by a point or two but nobody is going to say "That's a circulated coin" or "that's a cleaned coin". I let the experts at NGC handle the grading and I just sell (and buy) the coins.
Before sending in a coin to be graded, you should ask yourself "What is my goal in having this graded", and then determine if it's worthwhile for you or not. Regardless, that's a nice looking 5 ouncer that you've got there. I hope the rim of the coin looks as nice as both the reverse and the obverse.
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Hello, and Welcome to the Forums!
I can recommend a book by Beth Deisher called "Cash In Your Coins: Selling the Rare Coins You've Inherited". I have that one with my coin collection, and the book is for my kids and my wife in the case that they need to sell my coins. Solid advice in that book. Wizard Coin Supply has it for $15.00 roughly (plus shipping), or you can find it on the auction site beginning with the letter "E", also.
The book is written specifically to help someone who is new to coins or knows a little about coins and has been given the honor of selling or disposing of an inherited coin collection.
-Eric
- OceanKid and James Zyskowski
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10 hours ago, Rigs said:
Are you folks who keep defending false advertising and poor services compensated for your comments? That's the only logical answer. Advertising to prospective members is complete BS. You're submission is opened and handled by any warm breathing body that will take the job, and then stored until examination by an expert for a few seconds. Misidentification is acceptable while you're submission is in the received and stored stage? Crazy, insurance claim would be impossible in a loss situation. Makes one wonder what else goes on behind the curtain. Seems like y'all are in cahoots with the television dealers to me. You trolls support the effort by rushing in to defend poor services while NGC opens new programs and services while we wait and wait and wait, but TV dealers are cashing in and flooding markets with over priced NGC graded coins in the top grades I'm out.
No, I am not compensated. That is also not the only logical answer (in the study of Logic, as a subject, that would be called a "False Binary Choice"). What I said is true. Misidentifcation? Hasn't happened to me, nor anyone else I've heard of. Insurance claim? From a secured facility? Sir, you need to adjust your tin-foil hat (I'm saying that in jest, just to be clear). Trolls? Nope, I joined NGC a few months ago to get back into the coin collecting hobby. TV Coin dealers? I literally have no idea what you are talking about. I'm sorry that you are frustrated, but please, don't take it out on me. I'm a small-time collector and happy with the service I am receiving. Rather than make false public allegations, I would encourage you to read up on coin collecting, the job market as it stands today, and the history of NGC. There was actually a time (more than a few years back, from what I have read), where NGC lead times were at 10 months (roughly 300 days!). I appreciate the fact that my coins are handled professionally and in a timely manner, in accordance with the lead times given. I've got my second submission at NGC right now, and they were spot on with the lead times as posted on the site. I'm preparing my third submission now. Then I need to take a breather, because I will need to sell a few of those coins to pay for my next grading submission :-)
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On 10/15/2018 at 4:37 PM, Christopher Terry said:have some sort of mental disabilities.
I am just seeing this post from 2018 now. I find that statement incredibly disgusting and very offensive. My wife and I care for someone with mental disabilities. I'm guessing if you truly knew what kind of commitment that takes, the kind of stress it causes and how difficult it truly can be, the original poster never would have written that in a public forum, and I hope that they never would have done so in private, either. My heart breaks for the ignorance.
- Crawtomatic, Hoghead515, Camelhmpz and 1 other
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I am sorry that you are frustrated. Being new to the hobby and being frustrated isn't much fun. Lead times are long (and possibly getting longer), but costs are holding steady (for now).
As a customer, I'm accepting the current situation. The lead times are clearly communicated and very reasonable, considering the circumstances. The "P" company that grades coins is at 30 working days of advertised lead time. That same company stopped accepting new sports cards for grading in that division because of the volume. That covers the top tier companies. The "I" and the "A" companies are the next level down. I'm not sure if they have extended lead times or not. They generally cost a little less, but are worth a little less in the holder, too. I did a lot of research (reading books, checking forums, youtube videos from coin dealers, etc.) before I chose NGC as my "grader of choice". In my criteria, lead times and price per coin were not high on the checklist, so they are the right choice for me.
My personal thoughts on NGC management is "good job!". They had an increase in volume and didn't "panic hire" a bunch of employees. That would not have been a good management decision. They also didn't price gouge. They could have easily raised grading prices to try and ease the flow of coins while increasing profit, but they chose not to.
Of course, right now many companies are struggling to fill vacancies across the spectrum of wages and salaries, so I can't fault NGC for that. In the U.S., we have had government "stimulus" payments, and that fueled a lot of new hobbyists. Coupled with the money saved during the lock-downs, I'm sure that there has been at least 6 months worth of discretionary income in a lot of homes that has been funneled to their hobbies. The company that I work for has seen a 20 percent increase in sales over the last 6 months, and we are having the same struggles with hiring people and not being able to meet demand. I would forecast that in the next 6 months, you'll see a gradual decline in lead times AND volume. As the world gets back to normal, coin hobbyists might find that they no longer have the time for coins that they did and the rat race will continue. Personally, I will continue to plod along, buying coins here and there, getting them graded, and smiling when I get a winner.
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Thank you for keeping us updated. The industry that I work in is experiencing unprecedented delays as well. Shipping, supply, port congestion, and a large increase in demand have created a perfect storm for many businesses in the U.S. I suspect that the year (or so) of lockdowns and stay-at-home orders have resulted in huge increases of new collectors and collectors re-entering the hobby. Add a few stimulus checks into the mix and the demand has spiked dramatically, I'm sure. I appreciate that businesses like NGC and others are open and transparent about expected turn-around times.
How's the back log looking today?
in Ask NGC/NCS
Posted
Lisa,
You might want to check the spelling on the website where this information is displayed. I believe there might be an error in the spelling of the date.