Submitting Coins: First Time (Priority Wheat>Memorial, RDvsBN, ErrorvsMint, Etc.) 0

[Izrafel]

//I have a slue of coins gifted to me and am about to submit a large number of them. I am getting caught up in minor details though that have no answer on the website.

1. If Submitting in Standard, the MAX Value is $3,000. ----- ?

I'm aiming around the worth of $2,000... But say my coin comes back in almost an Uncirculated state, Highest Grade, achieving worth of approx. $10,000?

Will NGC still send me the coin back as originally scheduled as part of the submission?

I have a feeling they'll literally send it back, ungraded, or not send it back until I pay for the furthered service fee?

This is the big one though: If I send in a certain few coins that I didn't perfectly review in that it should've been sent as an Error Coin... Will they just grade the coin and ignore the factors of possible errors?

Or will they identify it for me, charge me the correct service fee for a much higher value, as well as increase the charges based on error service fee (rather than standard)? 

Do they need to get further approval from me to authorize the new charges for the higher coin value?

 

On a side note, if I have a Mint Set, (1969 S, and D) in uncirculated condition. Will that automatically make me look in a different area of the price guide? What determines if my set is a SMS?

I am thinking about basically just opening the set up, very carefully taking each coin out and submitting them one by one for the most possible value.

Is this a bad idea? 

Last Question: Should I even waste time considering sending in Brown Coins over Red? (Or also Red-Brown vs Brown or Red)

Thank You SO Much for Reading my Questions, I apologize for the overwhelming amount of triviality in detail.

I appreciate all help. Thanks Again...

[JT2]

Izrafel,

Welcome to the chat board.  if you stick around long enough you will find that there are some very knowledgeable individuals with 100's of years of coin collecting behind them.    so for my two cents worth.

#1. when you submit at the standard rate the $3000 max is your determination of how much you think the coins is worth for insurance purposes.  if you think it is only worth $2500 then submit under that tier and if it comes back a winner--Worth more-- then your set they will not go back and back charge you.  however if the coin is obviously worth more then you may get a call or an email say they will need to talk to you about it.

#2 error coins are a different story.  if you have an obvious error like off center or clipped planchet these will be a straight up $18 fee.  but if they have to research it and "you" think it is an error it may come back as not and you have still spent your $18 for the research.  It is best to do the research first and then state what you think it is on the form.

#3 Generally speaking most mint sets aren't worth breaking out and sending in for grading.  it is pretty much a waste of your hard earned money.  if the packaging is starting to yellow and your coins are getting hazy it might be best to get them out and put them in a capitol plastics holder or some other type of archival holder.  

#4  SMS (Special Mint Set) is a special processing of the coins of particular years usually the 65 - 67 mint sets with a couple of nickels in the 90's and a Kennedy in the 98 time frame.  it is a special processing of the dies where there are heavier pressure and sharper strikes of the coinage but not to the level of a Proof.   

 

hope it helps and if i got anything wrong we will hear about it and you will get better answers.

[EagleRJO]

Why are you submitting the coins?

[Sandon]

    Welcome to the NGC chat board.  

    Before attempting to answer your specific questions, allow me to state that those questions strongly suggest that not only are you new to submitting coins to grading services but that you have little knowledge or experience of grading and otherwise evaluating coins.  If so, you have no business submitting coins to grading services and will likely spend more doing so than the coins are worth.  Many collectible coins just aren't worth the expense of third-party grading and can be collected and enjoyed in albums or other appropriate holders.  To be worth submitting, a coin should be worth several hundred dollars or more, and you need the requisite knowledge to determine this. If you just want to sell the coins and are trying to get an idea of what they are worth so that you can evaluate offers for them, you would be better off having them appraised by a dealer or experienced collector and then selling them uncertified.  We can give you an idea of the value and suitability for submission of some of your coins if you can post clear, cropped photos of each side of them, preferably as a separate topic.

   If you want to become a collector yourself and learn about what you already have, please refer to the following topics on this forum for print and online resources that will assist you in obtaining the necessary knowledge:

   You should also attend venues such as coin shows and coin club meetings where you can examine a variety of coins and speak with experienced dealers and collectors. 

   If you still want to submit your coins to NGC, if you have not already done so, please review the pages in the menu under the "Submit" tab at the top of the NGC home page, especially "How to Submit", "Coins We Grade & Policies", and "Services & Fees", which should answer most of your questions. My own comments on them follow:

  1. The maximum values per tier are per coin, not per submission. If you submit a coin in the "standard" tier that NGC determines is worth more than $3,000, NGC may charge you for the appropriate tier for that particular coin. This happened to me once, where a coin that came back "details graded" as I expected but in a higher adjectival grade was determined by NGC to have been submitted in the wrong tier, and I was charged for the next tier up. On the other hand, I've had coins that graded high enough to be worth more than the maximum tier value on the NGC Price Guide but wasn't charged extra for it.  (What coins do you have that you have good reason to believe are worth more than $3,000 each?)

  2. As stated by @JT2, you must pay an $18 additional fee for each coin that you want checked for an error or variety attribution, and NGC will keep your money if they determine that the coin is not attributable.  If you don't indicate that you want the coin so attributed on the submission form and pay the fee, it won't be attributed even if it is an eligible error or variety.  This is another example of why you need to have knowledge of such matters to be a successful submitter.  For further details, see Variety vs. Mint Error | NGC (ngccoin.com). 

 3. Also, as stated by @JT2, there are no Special Mint Set coins dated 1969. Why did you think there were? A complete 1969 uncirculated coin set, a.k.a "mint' set in its original government packaging, which includes Philadelphia as well as Denver and San Francisco mint coins, sells at retail for $6 to $8 per Coin World, so why would you want to spend at least $19 per coin (modern tier grading fee), plus the $10 per submission form processing fee and $28 return shipping fee to grade the coins in the set?  It's a very bad idea.

 4. I don't know what copper or copper alloy coins, to which the "Red", "Red and Brown" and "Brown" designations apply for uncirculated pieces, you want to submit. If, for example, it's a 1793 large cent or a 1909-S V.D.B. Lincoln cent, it is worth submitting even if well circulated. If it's a common coin like a 1945 Lincoln cent, it would only be worth it if you have good reason to believe it would come back graded at least MS 67 RD, which is quite rare.  Once again, you can't determine this without your own substantial knowledge of grading.

  

[l.cutler]

The vast majority of coins just aren't worth having graded. You can always post pictures of a few here and get some advice on whether it is worth it or not.

Edited April 13, 2023 by l.cutler

[powermad5000]

Hello and welcome to the forum!

Before I roll out any submission advice, how many coins is in the "slue"????

In the absence of knowing the values of what you are submitting and thinking they will get astronomical grades, I would advise to be ready for disappointment sans knowledge of the hobby and self grading. And to give you an idea when you mention "slue", in a couple weeks, I am going to submit roughly 40 coins and it will cost me over $1,000 for the grading and slabbing.

[Jason Abshier]

I mention this similar on another post … Grading companies changed a lot over the years … I never dealt with them directly only twice over all my collecting years I’ve sent coin for grading through a coin dealer he handled the submission and all paperwork for me 

but today it’s mostly involved with Market grading … why not just make it simple ? Modern tier , classic tier and keep the coin’s raw value out of it , why ask me what I “think it’s worth” … Charge a flat fee for all coins fairly in respective tire , regardless how much the coin is worth on market before grading and slabbing  … they all have go through same grading process , a grader has look the coin over,  they all get the same plastic slab holder with a graded label on it based on grader’s professional “opinion” what coin graded out at …

Then it’s up to seller/owner to really determine what price of that coin is on market the market is not hard enough evidence and proof to say what a coin is really worth (its only worth what buyer is willing to pay for it that range can be anything when it comes to selling point) after all that why we are sending the coins in for a professional grade to help us narrow down ballpark what a coin is worth on todays market  …

the grading companies should NOT be telling you how much your coin is worth (simply because you put it in wrong submission tier) now you have to pay upper tier just to have that higher “valued” coin graded … in the end of the day MS65 is MS65 based on the condition of the coin not it’s value !

[powermad5000]

I understand why you have to declare a value for your coins. It has never happened to me, but in the event of a total loss of your coins (the plane goes down, the delivery truck starts on fire, the package is absconded by an unscrupulous thief, etc.), since the coins have not been graded at that point, your declaration is the only thing that anyone has to go on for the purpose of insurance when you make a claim for the total loss of all your coins in the submission.

I agree with you Jason, that a coin graded MS 65 is the same standards for any coin. Grade is based on quality of the strike, the amount of wear or lack thereof, and amount of dings and minor scratches, as well as damage and other irregularities. But to say an MS 65 grade is a generality of value cannot be applied. An 1893 CC Morgan MS 65 is not worth the same as a 2022 P Jefferson nickel MS 65. Part of the tier cost is the speed of the process of getting graded and slabbed. However, this does not help a submitter like me when I submit under several different tiers and then check the boxes to have all of my submissions returned at the same time to save on return shipping costs. So, my 1878 CC Morgan gets graded and slabbed quickly, but still has to sit and wait for my 1916 Mercury dime to be graded and slabbed. Me paying for speed of service at that point is worthless.

It is not a perfect system by any means, but I look it as I am paying a bunch of different people to do something for me that I cannot do myself. And people deserve to be paid for their services just as you get a paycheck from your employer for doing your job. Someone has to receive my coins, another person has to sit at a table and grade them (and maybe make a label), another person makes digital images of both sides of my coin, another person has to put it into a slab and seal it, another person has to check my submission before it is returned and put it into a package, another person has to handle my payment and process that so everybody gets a paycheck for their work. And all those people make sure my coins don't get damaged in the process.

[Jason Abshier]

@powermad5000 I agree with your statement … for newer collectors who want send coins in its very daunting task little confusing to them …. Perhaps grading process is different for coins of higher value ? Maybe it goes through grading process a few times to really determine the grade of the coin. Who knows ? I can see their speedy 1 day tier for very high values coins they have stop everything they are doing to get this high value coin graded , slabbed , labeled and processed in the system you gotta shell out the high money for that tier … 

it would make sense if they would make modern , and classic tier all under one Price point formation respectfully in their category regardless if that coin is G04 or MS68.. It still same coin it had go through grading process just like any other coin , uses same plastic slab as any other coin not like it got a special treatment or kiss for being a more expensive coin just my .02 cents … like I said maybe the grading tier requires more deeper grading or something that’s why there’s a price gap there