submitting

[halfpint]

hello all!

 

just wondering, if you send coins to be graded and really don't have an idea of the grade, and don't put any 'grade' in the space on the form that asks for it, what happens? i realize that the info is used to set the fee somewhat, but if you think that you don't know and leave it blank will they (ngc or pcgs) grade the coin and then bill you for the grading of the particular grade that it ended up? i hope i'm not confusing the point. thanks in advance to all replies.

 

steve

[cpm9ball]

I believe that the primary purpose is to establish a minimum grade that you hope to receive for the coin(s). If the submitter wants them encapsulated no matter what the grade, then it doesn't matter if it is left blank as lomg as the appropriate tier is used.

 

Certain tiers do have maximum value limits, and in a roundabout way, the expected grade can determine which tier may be used. For example, if you submitted an 1884-S Morgan $ under "Economy" and indicated an expected grade of AU when it is obviously an MS coin, NGC would probably contact you about the change in tiers.

 

Also, the expected grade is just as important when it comes to determing the insurable value and what you would have to pay to insure it to and from NGC. In the case of the 1884-S, I doubt that NGC would want to insure its return to you based on a $300 value when it is worth 15x or 20x that.

 

Chris

[supertooth]

halfpint---- Have often wondered how the TPGS think that you ought to know the value of a coin---before they grade it---or BB it for that matter? So, I have been where you are----laboring over whether the coin is worth over 300 bucks. Naturally, they expect you to be able to grade somewhat---and at least have some idea yourself as to a coin's value. Course, the added dilema of whether we see the coin as a wholsale or retail priced coin? Or, is it a 'bid' or 'asked' price, if using CDN prices [greysheet]?

 

Also, there is whether you want the coin back in one business day or 30 business days? If you are willing to wait the 20--30 business days, then they seem to be willing to overlook some additional value---if your coin does get a higher grade.

 

Using uncirculated Walkers as an example. You certainly won't pay over about 30--40--50 bucks for a nice MS 63--64 1944S Walker. It really does not even pay to slab the coin at a TPGS---unless you have a specific reason for doing so. But, that same 44S coin---if it grades a 65---is now worth over the 300 dollar limit for a 16 dollar Economy price at NGC or the 18 buck price at PCGS. But, in my experience, at least NGC will not make an issue over this.

 

Now, let us use Washington Quarters as an example. Does your coin grade an MS66 or an MS67? As a 66, many of the dates and mints can be purchased for a 100 bucks or less these days. But, if you get a 67, then the value can jump 10--20 times that 100 bucks---depending on the year and mint. So, what do you estimate your fees to be?? For me, I assume the 66----hope for the 67. But, I send my coins within the 300 dollar limit---in economy. Have always figured that, if they want more fees, they will call. Afterall, why would you pay a slabbing fee of 30 bucks---not counting postage and insurance fees BOTH WAYS---for a coin that maybe will sell for not much more than that total amount of fees on the open market?? I always say---if they give me a 67---I'll gladly give them the additional 12---14 bucks if they ask for it.

 

Another thing to remember---any good grader must allow for a 'one' point difference in opinion---because grading is indeed subjective. You can really want a higher grade and think that the coin deserves it----but you may not get it---even if you are absolutely sure that you are correct. Reason----they may NOT AGREE with your assessment.

 

On a personal note---I have ALWAYS been treated fairly by NGC. They do seem to be tolerant of our weaknesses on most occasions. They know if you are trying to get away with murder or not. Just be as straight with your deelings as you can be---and it will work out OK I am sure. Bob [supertooth]

 

 

[conqueror]

I just use the insurance value as my price. Example: 1885CC $1 I valued it at $500 for thats the price I paid for the coin and thats my replacement price. Funny thing is that it came back graded at MS65 which is now worth more than a Thousand. Thank you NGC.

 

John

[dluders-migration]

I recently submitted an 1897S Morgan Dollar to NGC for grading. On the NGC Submission Form, I put down the Minimum Grade as "60." NGC went ahead and graded the coin as AU58, even though I thought it was Mint State (MS) 64. They didn't notify me or anything before they slabbed the coin. What I thought was a $170 coin turned out to be worth only $28. I utilized the NGC "EarlyBird" coupons that came with my new NGC membership.

 

(Yes, I know I didn't grade that coin very well in this case, but that's another story.)

 

 

[MikeKing]

post that on the ASK NGC forum and see if they offer a regrade or to pay the postage for sending it in for them to crack back out of the holder.

 

[cpm9ball]

I just use the insurance value as my price. Example: 1885CC $1 I valued it at $500 for thats the price I paid for the coin and thats my replacement price. Funny thing is that it came back graded at MS65 which is now worth more than a Thousand. Thank you NGC.

 

John

 

John, have you posted any photos of your '85-CC? I'd like to see it.

 

Chris

[conqueror]

My coins should be in either Wednesday or Thursday and i will post it than. I bought it raw on ebay for under $500 and the 2x2 it said MS65 pl from some auction lot. I took it to two local dealers and was told it was a MS64 so I'm quite pleased it graded MS65.

 

John