What happens if I send a Lot of 20 coins to get Graded Economy (all est. <$300 in value) and some end up being worth more than I thought? 1 1

[Riley Saeger]

I'm wondering if it would be better to grade these coins or sell them as is on eBay and put that money toward a nicer coin to add to my collection. I am a novice, but from my research, I estimate they are worth as follows:

• 1917 Liberty Half Dollar: MS Fine - MS Extra Fine Range ($40 - $80 in value)
  • https://www.ngccoin.com/price-guide/united-states/half-dollars/42/
• 1878 7FT Morgan Silver Dollar = MS Extra Fine ($60 in value) 
  • https://www.ngccoin.com/price-guide/united-states/dollars/49/ 
  • There's not a lot to compare it to - I'm unsure if the coin is an 1878/1879 backing. 

Based on these valuations, it seems  "Economy Tier" would make the most sense. Here is my calculation for an estimate of the total cost:

• Grading Cost Using Economy: $23/coin = $46
• Shipping = $10.50 Fixed Rate Small Box USPS Priority + $12.25 for $600 worth of insurance = $22.75
• Processing Fee  + Membership For NGC = $10 + $25 = $35
• Total Cost Estimate: $103.75

Based on those estimates, it seems like I may break even. Does that sound accurate? Does anyone disagree with the price assessment or see any room for additional value due to shading/condition? 

Edited June 23 by Riley Saeger

[Greenstang]

Welcome to the forum

Neither of the coins shown are worth nowhere near $300.00
If these are the best two, then I would say that none are worth grading.   
Unless a coin is worth $150-200.00  it is not worth the cost of grading
 

My reply now does not make much sense as the OP has completely changed the   
original wording.

Edited June 23 by Greenstang

[Sandon]

   Welcome to the NGC chat board.

   In answer to the question posed by your topic title, if NGC determines that a coin submitted in the "Economy" tier should have been submitted in a higher tier because it has a market value significantly higher than $300, NGC will charge you the grading fee for the appropriate tier, the $40 for the "Standard" tier if the market value is no more than $3,000. The other coins in the order will be unaffected. However, you don't need to worry about that regarding the coins whose images you posted, which in my opinion have insufficient value to be submitted at all.

   Your 1917 Walking Liberty half dollar has Fine to Very Fine details, with heavy dark encrustations that may well lead to a "Details" grade due to "Environmental Damage". Even if unimpaired, the coin has a retail list value of $40 to $50 in these grades in the NGC Price Guide and only a more realistic $18 to $25 in the July issue of Coin World. If impaired, it isn't worth much more than silver value. How can such a coin possibly be worth a $23 grading fee, plus the processing and shipping costs, from which you omitted NGC's return shipping fee, for 20 coins a minimum $35 per order, $28 for just two coins? See NGC Announces Major Improvements to Return Shipping and Insurance Services | NGC (ngccoin.com).

   Your Morgan dollar isn't an 1878 7TF. It's an 1878-S, all of which have the "seven tailfeathers, second reverse" reverse design.  The mintmark is below the ribbon and above the "DO" in "DOLLAR".  The detail is Extremely Fine to About Uncirculated--the coin is toned--but there is a serious scrape in the hair below the ear that would likely result in the coin being "Details" graded as "Damaged".  It is unlikely to have a current retail value, whether or not third-party graded, of more than $50. Like the 1917 half dollar, it is a coin worthwhile for a new, budget, or casual collector's album or its current holder, not a grading service holder.

   As an admitted novice, submitting coins to third-party grading services is the last thing you should be thinking about. You should instead be learning how to identify, grade and otherwise evaluate coins yourself, a process which will take at least a few years. Do you even have such basic resources as a current or recent edition "Red Book", a grading guide, and a current price list? See the following forum topics for print and online resources that should assist you:

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

Edited June 23 by Sandon

[Henri Charriere]

🐓  :  I told you I thought it was an 1878-S, but no-o-o-o!

Q.A.:  I just couldn't coax enough definition from the resolution to suggest an error had been made on a 2 x 2 flip.  I fully concur with the assessments made by our knowledgeable fellow members.

***

To the OP:

Your patience paid off!  The advice you received was priceless in terms of the time and expenses you were spared. (Hard to believe both coins as pictured were still in circulation or stockpiled in banks only 60 years ago.)

[Greenstang]

Quote

Based on these estimates, it may seem like I will break even.

Why would you want to just break even?   
Leave them raw and then whatever you can sell for will be profit.  
I can’t figure out this wanting to get everything graded by newbies. 

[VKurtB]

On 6/23/2024 at 3:06 PM, Greenstang said:

I can’t figure out this wanting to get everything graded by newbies. 

It's not like Scouting USA, you know. You don't get a merit badge for getting a coin graded. There is no "flair" for it like at some chain restaurant. SOME NEWBIE SOME TIME is gonna need to 'splain this to me. I have been asking this literally for years and years.

Edited June 23 by VKurtB

[GoldFinger1969]

I would think anybody sending in a coin they think is worth $150 with $30 grading fees....would be happy if it turns out it is worth $2,000 and now will cost $150 or whatever to grade, right ?

[powermad5000]

The only thing I would like to comment on as far as the self grading of these coins goes, there is no grade such as MS - Fine or MS - Extra Fine. It would just be either Fine (F) or Extra Fine (XF). MS is Mint State with its own 11 points of the Sheldon scale.

I think you would be better off instead of thinking about spending money to submit these coins to a TPG for grading that you took that same money and invested it into two books. One, the Red Book of United States Coins, 2025. The second book titled ANA Grading Standards for United States Coins, 7th Edition.

Read these two books and use them to improve your self grading skills as well as look at potential values which would help you determine what you may have that would be worthy of submitting to a TPG. The Red Book has relevant series information as well as its own price guide. The ANA book has photo examples of each coin series obverse and reverse with the appropriate grade for condition.