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Has NGC Flipped?

Started by gmarguli,

30 posts in this topic

gmarguli

gmarguli

Posted
Posted
NGC Accepting Reholders for Multicoin Sets

Posted by NGC at 10/20/03 12:21:13 PM

 

Beginning November 3, 2003 customers may submit coins already certified by NGC for reholdering within the new Multi-Coin holders.

 

NGC introduced its innovative Multi-Coin holder at this past summer’s ANA World’s Fair of Money in Baltimore, and the response has been overwhelmingly favorable. Utilizing the same state-of-the-art plastics as the company’s single-coin holders, the Multi-Coin holders will be available for a wide variety of popular sets. Until further notice, only coins already certified and encapsulated by NGC may be placed into the Multi-Coin holders, but it is expected that this service will be broadened soon.

 

The fees for reholdering of single coins into Multi-Coin sets are as follows: For coins valued at $100 or less, the fee will be $8.50 per coin. Those valued over $100 but no more than $3000 will be reholdered at $12 per coin. Items valued over $3000 will cost $40 for reholdering into Multi-Coin holders. In the case of coins already certified by NGC as MS-70 or PF-70, the fee for Multi-Coin reholdering will automatically be $40 per coin, regardless of value.

 

Only those sets currently recognized and assigned by NGC will be completed. Please see the comprehensive list of NGC Multi-Coin Set listings. NGC may expand this list and offer customized descriptions going forward. Please contact NGC or refer to the NGC website at www.ngccoin.com for the complete listing of recognized sets.

 

Questions about the Multi-Coin Service? Please contact Scott Heller 1.800.NGC.COIN ext 114.

 

$8.50 per coin? If I want a 5 coin set of state quarters put into one of these slabs I have to spent $42.50! How can I make money by selling these sets if I have to pay that much as well as the original grading fees of $49.50 plus the price of the coins? I'd have to price these things at $150. God forbid the set is a PF70 set since I'd have to pay $200 to get it reslabbed.

 

I hate to say this, but many NGC PF70s don't even sell for $40 a coin.

 

Why charge more to reholder more expensive coins in these slabs? The price for reholdering coins is $4, it isn't $4 for coins valued up to $100, $20 for coins valued up to $3000, and $40 for coins valued above that.

 

You guys are crazy if those are the fees you are charging. You can forget about these taking off right now because I can't imagine more than a few people being interested at these exorbitant price levels.

 

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chinook

chinook

Posted
Posted

That must be some expensive plastic they're using.

 

Considering the coins are already graded and no "expert" opinion-knowledge-experience is needed why charge so much? I was hoping for just a simple $4/coin reholder fee.

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SilverEagleCoins

SilverEagleCoins

Posted
Posted

What exactly gets holdered in a multiholder? I do not recall seeing 5 different labels on the multi holder. What if I submit a cracked proof set and they are not all the same grade? Or if I want to multi-slab my best 5 Frankies but they are all different grades?

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Hoot

Hoot

Posted
Posted

The price is insane. I received a catalog last week from a major vendor that included multiholdered coins. I don't recall the multiholdered sets reflecting anything close to the cost for such an item. I'll have to get the catalog later and post some prices.

 

Hoot

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truthteller

truthteller

Posted
Posted

Hmmm? For earlier classic sets, I think it's rather cool. If you have a 1939 proof set, all NGC65, wouldn't it be neat to get a NGC holder containing all the coins? Or maybe a P, D, S Cincinnati set with original color and matched, all ms66. That would be kinda nice. 893scratchchin-thumb.gif.

 

TRUTH

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Hoot

Hoot

Posted
Posted
Hmmm? For earlier classic sets, I think it's rather cool. If you have a 1939 proof set, all NGC65, wouldn't it be neat to get a NGC holder containing all the coins? Or maybe a P, D, S Cincinnati set with original color and matched, all ms66. That would be kinda nice. 893scratchchin-thumb.gif.

 

TRUTH

 

I don't think that anyone disputes how nice it would be.

 

Hoot

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RobertB

RobertB

Posted
Posted

When you start charging by the grade in any way what so ever, even re-slabbing, you're saying something very bad. I don't like the sound of this. It's not right. Who's idea was this? 893frustrated.gif893frustrated.gif893frustrated.gif

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jom

jom

Posted
Posted

I don't think that anyone disputes how nice it would be.

 

All true but I still don't give a damn. laugh.gif

 

I think the new holders are intended for anyone who has spent more then $1 on a state quarter!

 

..lol

 

jom

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nwcs

nwcs

Posted
Posted

First, I have no interest in this holder. But I am curious, how does it compare in cost/whatever to a custom capitol plastic holder?

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CarlWohlforth

CarlWohlforth

Posted
Posted

NGC did exactly what I would do when rolling out a new product that is in demand. I would price it high. Once all the kinks are worked out of the system and I have enough machines to do the work I would then broaden the market. I mean, if they are fully utilizing the only 5 coin slabbing machine why lower prices? Once I ran out of ideas on how to broaden the market, then, and only then, would I reduce prices.

 

Of course I am only speculating that the demand is that high...

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TonerGuy

TonerGuy

Posted
Posted

Wow, what a shame and I was going send in some proof sets to be reholder in these.

 

Not anymore, this pricing plan is ridiculous. $200 for a PF70 set. Obviously, someone is not quite in touch with the market for NGC moderns, proof and business strikes. Even if they were worth $500 a coin, I still don't see a $200 reholder fee.

 

Either Montgomery of Lange needs to read this thread and try to do something about this.

 

Michael

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coinman1794

coinman1794

Posted
Posted

Wow! That is one of the craziest things I have ever seen from NGC. I am absolutely blown away! You can have one coin reholdered for $4, or you can have 5 coins placed into the same piece of plastic for $42.50, $60, or $200, based on value!!! confused-smiley-013.gif I hope no one is foolish enough to pay these prices just to reholder a coin. It is one thing to have 5 coins graded, for which $8.50 a coin wouldn't be a bad price, by the way, but just having them reholdered for that price is absolutely insane. And even more delerious is paying $40 because the coin is a higher grade. What! Does writing MS70 on that single label use more ink than writing MS69? Does NGC claim to have some kind of special stake in MS70 coins that allows them to charge more for their handling? Are they more careful with MS70's than with MS69's. I would hope that every coin is handled with the utmost care. It should also be noted that NGC moderns are only worth a fraction of PCGS market values, and few, if any, coins would be worth paying this price for. And finally, if the process is extremely expensive for NGC such that these are the best prices they can do, then I would say the process is not ready yet.

 

For those who think this is good marketing, please reconsider what it is you are paying $200 for!

 

 

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SilverEagleCoins

SilverEagleCoins

Posted
Posted

Well I don't know too much about reholdering preferences but maybe NGC is trying to discourage people from reholdering single slabbed NGC coins??? If all their high grade singles got put into sets then it is possible their single slab market will dies if there isn't enough of a float of high quality single coins.

 

For a smaller time collector like me I may occasionally be able to buy 1 or 2 single slabbed $500 coin. But I certainly could not constantly pony up $2500 for a multi-slabs, especially if I am only interested in 1 of 5 coins in the set.

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gmarguli

gmarguli

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  • Author
Posted

I would assume that most of the coins put into these slabs will be low value, i.e. proof state quarters or date sets, not expensive coins. I would have loved to do a few of these. I might even toy with the idea of doing a date set of the BTW & GWC commems which I have an almost complete set of. At the current prices I think I'll pass.

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Beijim

Beijim

Posted
Posted

I couldn't agree more with Greg's initial post.

 

I was quite enthusiastic about the multi-coin holder and looking forward to using them. These prices, however, are outrageous. You can bet the Coin Vault guys on ShopAtHomeTV.com (who had an initial exclusive) didn't pay any $40 per coin. This truly smacks of hosing the little guy.

 

I was actually speculating about the pricing structure awhile back. I concluded that something like a premium of $1-2 per coin over normal reholdering (i.e. $5-6 per coin) would be a reasonable price point. In other words, pay the normal per-coin reholdering fee plus a rational premium for the multi-coin holder. I appreciate that the multi-coin holder is attractive and likely involves more care when placing the coins into it for encapsulation.

 

When I read the actual pricing announcement, I was shocked. And very very disappointed. The concept of spending $40 per coin simply to change plastic wrappers is ludicrous.

 

Now if you'll excuse me, I have an appointment back on planet Earth.

 

Beijim

 

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Beijim

Beijim

Posted
Posted
What exactly gets holdered in a multiholder? I do not recall seeing 5 different labels on the multi holder. What if I submit a cracked proof set and they are not all the same grade? Or if I want to multi-slab my best 5 Frankies but they are all different grades?

 

See the pricing announcement on the NGC web site. There's a link to an accompanying PDF file that lists all currently permissible coin combinations. At present, all coins in the same holder must have the same grade. Although this isn't spelled out in the announcement, Dena clarified it in this "Ask NGC" topic.

 

Beijim

 

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coinman1794

coinman1794

Posted
Posted
Et tu, NGC?!

 

I don't know if we can liken it to a brutal murder; noone has been taken advantage of or screwed on a coin (as has been the experience of many, elsewhere), NGC is simply charging too much for a service, and, we can choose whether or not to participate. So, I don't see it as a betrail of values (murder) on NGC's part, just a misinterpretation of the desirablity of the product.

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TomB

TomB

Posted
Posted

What is the price to have raw coins graded and put into the multi-coin holder format? It must be listed, however, I haven't looked it up yet. I would assume that the price for that service would be substantially lower than the re-holder prices listed.

 

As for the re-holder prices, in my opinion this is a very poor PR move. You want folks to buy into this option and to keep the option as a viable alternative for all coins on the market. This does not exactly do that, it leaves a bad taste of greed in the mouth and may turn some people off to the concept.

 

I would suggest that they reduce the revenues per order generated by this in the short term in order to increase the total revenues generated by this product in the long term.

 

Mistake by NGC.

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gmarguli

gmarguli

Posted
  • Author
Posted
What is the price to have raw coins graded and put into the multi-coin holder format? It must be listed, however, I haven't looked it up yet. I would assume that the price for that service would be substantially lower than the re-holder prices listed.

 

They don't offer that service to the public yet. However, I'm pretty sure they do offer it to some submitters, like S@H.

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Leothelion

Leothelion

Posted
Posted

I just checked the links and I 893scratchchin-thumb.gif the holders might be a great way to holder complete sets for each year of a series. For example, to holder all 1938 dates for the Jefferson nickels. The business strikes 1938PDS and the 1938 proof. For the 1939, the set would contain both type 1 and 2 1939PDS plus both 1939 proof nickels. 8 coins, all dated 1939. The 1940 set- 5 coins, 1941-4 coins, the 1942 would have 6 coins. From 1943 to 1949.............

Better yet, double up the sets like combining all the 1938 and 1939PDS and proofs into one holder.................

Heck, wouldn't it be neat to have 10 stackable slabs that held a complete 240 coin series............. 893blahblah.gif27_laughing.gif

 

Leo juggle.gif

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RGT

RGT

Posted
Posted
They don't offer that service to the public yet. However, I'm pretty sure they do offer it to some submitters, like S@H.

 

I just got a new catalogue from SilverTown yesterday that had quite a few of these for sale in it. Mostly state quarter sets. Do you think they got these from S@H? 893scratchchin-thumb.gif

 

smirk.gif

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Beijim

Beijim

Posted
Posted
I just got a new catalogue from SilverTown yesterday that had quite a few of these for sale in it. Mostly state quarter sets. Do you think they got these from S@H? 893scratchchin-thumb.gif

 

smirk.gif

 

I saw this as well and was wondering the same thing.

 

Beijim

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