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What value to put ???

Started by moondoggy,

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moondoggy

moondoggy

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When submitting coins what is a good rule of thumb to use when insuring your submission. Sometimes I have used the Raw Value + 50% but other times I have used what I estimate would be the minimum grade they should receive, which is to say "I have no idea". Also, if the submitter really lowballs the insured value does/will NGC adjust for shipment back to the submitter and adjust the charge accordingly if the coins grade out above what was expected ???

 

thanks,

moondoggy

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Max Spiegel

Max Spiegel

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moondoggy,

 

Thank you for your question. I think that it is always better to overestimate the value of the coin when sending it in because that's how much it will be insured for. Basically, you should set the value at what it would cost you to replace the coin (use retail values, of course). You could value the coin at what you paid or you can consult the NGC Coin Price Guide. We do not appraise or provide values, so if you undervalue your coins we will not increase the insurance. Only in rare instances when a coin is submitted on a lower tier and it obviously belongs in a higher tier will we contact the customer about changing the value. (We also try to contact the customer if the opposite situation happens).

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