Noob questions about submitting coins to NGC
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8 posts in this topic

Brand new here with a few questions about submitting coins so I appreciate the help.

Background - I'm getting back into coin collecting and just bought 73 coins via auction and should receive them in the next few days.  It looks like the seller is a long-time collector who acquired most of these coins before the coin grading industry started.  5 of the 73 coins have an NGC or PCGS holder so I don't plan to submit these.  9 others have a PCI, NNC or ICG holder and I will submit these with the Consent to Remove form.  This leaves 59 coins that have never been graded.

Date range is 1797-1915.  Of the 68 to be graded, 42 are gold & 26 are silver - mostly gold eagles and capped bust half dollars.  NGC grading tier breakdown based on my FMV estimates is 3 UVWT, 7 WT, 23 EX, 17 EB/S, 10 Spec Gold and 8 Gold.

Questions:

1.  Would a gold coin with a FMV of $5,000 be in the NCS Gold or Standard tier?  In a NGC Gold tier or Express?  I assume NGC Express and NCS Standard.

2. Should I send in 3 boxes - 1 each for Walthrough/UVWT, Express and Regular?  I may need another if I use NCS.

3. Once I receive the coins, I'll make a final call on which to send to NCS first.  Looks like I have 18 coins eligible for the NCS Gold tier which seems like a good deal at $30.  I definitely like the idea of NCS checking the coins that may need help but that 4% fee if they conserve them is tough.  For example, there is a 1798 draped bust dollar previously graded MS60 by NNC (pic attached).  It's is great shape except it's pretty dark.  I don't know if it's worth $6,500 or $30,000 so I don't even know what the NCS fee would be but if cleaning it up helped the grade/marketability, it may be worth it.  Any general thoughts on deciding whether or not to use NCS?

4. None of the add-ons really appealed to me.  I plan to generally hold on to these coins so a regular holder seems fine but maybe I'm missing something?

Sorry for the long post but thanks for the help and I'm pumped to be collecting coins again!

- Chris

1798 draped bust dollar.PNG

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Wow it sounds like a big investment. I would slow down to a crawl unless you are in a hurry to flip the coins ? It would be best to take some advice from the members here it could save you a lot of headaches. Coins that are in holders most of the time are ok but raw coins can be tricky you may want to weigh and post pictures here for advice on some of the coins. One coin at a time with clean shots of the obverse and reverse please.

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On 10/17/2021 at 9:35 AM, Fenntucky Mike said:

I'd call NGC and see what they could do for you. They may cut you a deal.

Hello and Welcome Dimeslot!!

With what you have and the sheer volume of it, I think this is the best course of action.  Someone at NGC can definitely guide you with this and get you moving in the right direction.  Sometimes, you gotta ask the pros!

 

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On 10/16/2021 at 10:42 PM, Dimeslot said:

1.  Would a gold coin with a FMV of $5,000 be in the NCS Gold or Standard tier?  In a NGC Gold tier or Express?  I assume NGC Express and NCS Standard.

According to their site, NCS Standard and NGC Express.

On 10/16/2021 at 10:42 PM, Dimeslot said:

2. Should I send in 3 boxes - 1 each for Walthrough/UVWT, Express and Regular?  I may need another if I use NCS.

This is what it says for both NGC and NCS

"If you are submitting multiple grading tiers in the same shipping box, indicate the highest/fastest grading tier."

So, if express is your highest tier, I would recommend writing EX or WT (which ever is highest) on the box.  I believe they are asking you to do this so your package will get opened sooner, if you are submitting a high grading tier, rather than the order in which it is received.    

I know on the comics side, CGC is months behind in opening packages.  Some are hesitant to write this on their package because it's a potential invite for a dishonest postal worker to take a package.  Something to consider.  

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I hope you're not disappointed by the coins when they come. It sounds like you probably just dropped a lot of cash on high value raw coins you haven't seen in person... Good luck. All of that and then giving a huge check to NGC as Coinbuf says... too much risk and money for me / my wallet. I'm hoping this was a reputable auction house and you know about the coins you bought and how to look for fakes and cleaning.

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On 10/17/2021 at 5:50 PM, Revenant said:

I hope you're not disappointed by the coins when they come. It sounds like you probably just dropped a lot of cash on high value raw coins you haven't seen in person... Good luck. All of that and then giving a huge check to NGC as Coinbuf says... too much risk and money for me / my wallet. I'm hoping this was a reputable auction house and you know about the coins you bought and how to look for fakes and cleaning.

This. The chances for nefarious sh—, err umm, “poop” here is significant. 

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