The Cost of Grading.

[CHABSENTIA]

I noticed that there is a Registry for Proof Coin Sets and Mint Sets.The most inexpensive tier I see for grading is the "Modern" which is $12.50 per coin and a minimum of five coins.

 

Since many of these sets can be purchased for $6.00 it does not seem likely that some body would pay $12.50 to grade a penny that was only worth $.20 or a dime that was worth a dollar.

 

Am I missing something here or is there another charge that I have missed for grading these Sets?

 

I apologize if this has been covered before but I don't see it.

 

Thanks.

[World Colonial]

You can check the NGC census to confirm this but what you should see is that mostly or only high grade coins like a PR-67 or MS-66 (or higher) are graded. It will depend upon the coin (lower grades for "early" moderns and higher grades for recent dates) but if someone can get a conditional rarity in a slab, they can sell it for a substantial premium over the list price you cite.

 

You can find actual prices in auction sites such as Heritage.The fees you see are the correct. A US cent that is worth face value will still set you back $12.50.

[CHABSENTIA]

Thank you..I have all the Proof sets and all the Mint sets from 1968 to the present.I have extras with some of the years. I noticed that bthere is a Registry for each year of Proof Coins from 1968 as well as Mint coins.

 

I could understand slabbing say a 1999 Silver Proof set that is worth about $400.00 but some of the others cost $9.00 each and I was wondering why the people that have them as a Registry would say slab a Penny that was worth about face value and spend $12.50

 

I did receive an answer from NGC and it is a minimum of 5 coins at $12.50. Can't see paying $62.50 not counting postage for a $9.00 set so I will concentrate on filling in my Morgans now that I have finished with the Silver Eagles.

 

Thanks for the response.

[SatTech]

It's all about the registry game...Do you want to be #1?

[CHABSENTIA]

Not really. My point was that I have Mint sets from 1970 and Proof sets from 1968.Many of them were given to me by ny Father and I just continued adding to them each year.

 

Havent looked into them that much.Just put them in the Safety depost box. I don't collect hald dollars but it is my understanding that the only way you can get a 1970 D Kennedy is in the Mint set and it could be valuable.

 

Do I break up my 1970 D Mint set in order to find out? This would not be a problem here as since it starts in 1970 then it could just start in 1971.What do I do with the other coins?I just noticed that there was a Registry for Mint and Proof sets and wondered why anyone would pay $12,50 for a set that costs $8.00 and there might be a special tier.

 

Obviuosly I have all the SACWEGAS Do I break up several sets for them?What about sets in the middle?

 

I have a large Safety Depost box but have to get another as not only the Present one full but is getting heavy.I had all the Silver Eagle Proofs I had got every month. I sent them to NGC nad had them slabbed.All came back as PF69 except for the 1994 which for sone reason came back as a PF68.

 

I did not use it for the Registry as it only has 3 points.I find this a little strange as Numismedia has the 1994 PF69 as $250.00 and the PF68 as $225.00.The 1994 PF68 is worth more than any Silver Eagle Proof in PF69 except for the 1995 PF69. This includes the 20th Anniversary in PF69.

 

At any rate, a grading fee of $12.50 is no a big deal in this case.They were just sitting in the S.D Box.It occured to me that I could better organize space by getting the Sets slabbed. I am not sure about the points as I didnt check them but not at the cost.

 

I have finished the Silver Eagles and will start looking at my Raw Morgans.I do not have them all but I have at least one for every year and there is a Registry for one each year so there will be some points there but at a more reasonable cost.

 

For some it is not all about the Registry and the points.I still think the coin/s as mentioned above is more important then the images.

[jackson64]

Hi chab, I think the point you are missing as to why people send away "lower valued" coins for slabbing at $12.50 each is because they are hoping to hit it big. As an example let's look at a 1971 proof set........

 

If a person had a nice set with some decent cameo it would be well worth the $62.50 to take a shot at hitting even 1 of the 6 coins in high grade. As an example the following are the list values of a PF69DCAM 1971-S for each denomination:

 

Ike dollar-$35

Kennedy Half-$1800.00

Washington quarter-$2750.00

Rosy dime $260

Jefferson nickel $850

Lincoln cent-$12,500.00

 

If you only got one 69, say on the nickel, it would be a huge profit on a $9 investment and a $62 risk....risk is how millionaires are made.........

 

As you can see, people send in coins with the hope that they may hit the big one. Just a few 68's or 69's easily pays for the grading fees......but to send in an MS63 quality modern coin would be stupid. Either the submitter had hoped for a better grade or was just uneducated about how to grade in the first place.....

[RareSov]

Very good example now does anyone have some nice 1971 proof sets ?

[CHABSENTIA]

I agree. I mentioned this earlier and used the 1970 Kennedy as an example .The only way to get one was to purchase the set.Then you are only taking about a 2 million number as opposed to the great number in all the other Kennedys.

 

The same things may also be said of the 1971 Proof set that you just mentioned as per your example.

 

My question was related to the fact that the REGISTRY for Proof Sets and Mint sets that do not justify the outlay for grading.

 

As mentioned earlier I have Proof sets from 1968 so I do have the Proof sets.I have the 1971 Proof set.If I send the 1971 in hoping for at least one of the coins hitting it big then I am missing 1971 and go 1968,1969,1970,1972.............

 

My mint sets start at 1970 so if I sent that one in then I have all the consecutive sets from 1971.

 

I have a large safety deposit box and made a lot of sapce when I sent in all my American Eagle Proofs and had them slabbed.Some of the Mint envelopes that these coins came in from that are 25-30 years old are starti to deterioate.It would be nice to have them slabbed but not at $12.50 for each coin.

[CHABSENTIA]

Another thing.My Father gave me the earlier Proof and Mint sets.I read earlier here where a person posted that the 1999 Proof could have an error Lincoln.I have Subscriptions wiht the Mint so as to keep the Proof and Mint Sets up to date and the State quarters as well as Proof and UNC Eagles.

 

I got all the 2007 Proof Set,.2007 Silver and recently the 2007 Mint.I get them to keep up to date.

[jackson64]

I see your dilemma now...your coins are a wonderful collection as they are--without "registry" services--but at the same time you would like the encapsulation for conservation purposes. The only suggestion I could make would be to see if they would house each proof set in a Multi-Coin Holder by year...sometimes if you contact them and ask, something can be worked out. Maybe they'll give you a price break for using multi-coin holders and tell them you just want encapsulation and not grading. The re-holder" fee is only $5 so maybe they'll cut you some slack if the coins don't have to go through the whole grading scenario and go straight to the slabbing department...Jackson

[CHABSENTIA]

Thats an idea. I had asked them about the grading process and they replied as mentioned. I don't know if they would just put them in the Holder as it is a "Reholder" fee which would imply that they were already in a holder but I could ask.

 

If I could send in say the 1971 proof and have it graded to find a "hit" amd then have them put in Multiholders to keep the sequence then that will work.I will ask when I get going with my Morgans.

[Dwaine]

You can ask the question in the Ask NGC forum. They will review your question and post a reply usually in a day or two.

[gmarguli]

I noticed that there is a Registry for Proof Coin Sets and Mint Sets.The most inexpensive tier I see for grading is the "Modern" which is $12.50 per coin and a minimum of five coins.

 

Since many of these sets can be purchased for $6.00 it does not seem likely that some body would pay $12.50 to grade a penny that was only worth $.20 or a dime that was worth a dollar.

 

Am I missing something here or is there another charge that I have missed for grading these Sets?

 

Many of these coins are graded under the bulk services. Basically someone submits a large quantity of sets and specifies a minimum grade (usually PF69) and the TPG charges a greatly reduced rate for the grading and you don't pay for coins that don't meet your grade. In these situations, you're usually looking for the PF70 which is a big winner and you sell the PF69s at a small loss.

 

Then there are people who are curious, don't know better, or optimistic about the grade of the coins and submit them at the modern tier.

[CHABSENTIA]

I asked two people at NGC about this very thing and got the same reply. My original question was "Is there any tier that I am not aware of where I could get some break". I mentioned the "Modern" tier in my question that the Modern was the cheapest tier and was there any sort of consideration for the Mint and Proof sets"

 

It has nothing to do with automatically submitting it under the "Modern"

[gmarguli]

They were correct. The bulk submission is only available to dealers.