First submission effort 1 1

[ruddy1959]

Hello all,

I have been buying coins for a while and have quite a few to send in for grading.  How do I package them?  How do I know what " tier" to use?  I am a NGC member and recently upgraded my membership.  I have two 1889 CC Morgan dollars, ( I have all the CC dollars),  some other CC smaller denominations, some Charlotte minted gold coins.  I have meant to get this done before; but it's so confusing.  I am obviously not in a rush.  I want to make sure I do this right.  I am pretty sure some of them will come back w/ " Details"  what exactly does that mean and what does it do to the value?

My Dad ran a pharmacy in TX and would send us to the bank w/ a $10 bill, " go get a roll of half dollars" in 1964 and 68.  I still have those in the paper wrapper from the bank.  I doubt the value of those would make the fee worth it.  Thoughts?  

Is the CAC label an ngc thing or pcgs?

 

I appreciate and and all help.

FRH

[Coinbuf]

On 7/28/2024 at 6:31 PM, ruddy1959 said:

Hello all,

I have been buying coins for a while and have quite a few to send in for grading.  How do I package them?  How do I know what " tier" to use?  I am a NGC member and recently upgraded my membership.  I have two 1889 CC Morgan dollars, ( I have all the CC dollars),  some other CC smaller denominations, some Charlotte minted gold coins.  I have meant to get this done before; but it's so confusing.  I am obviously not in a rush.  I want to make sure I do this right.  I am pretty sure some of them will come back w/ " Details"  what exactly does that mean and what does it do to the value?

My Dad ran a pharmacy in TX and would send us to the bank w/ a $10 bill, " go get a roll of half dollars" in 1964 and 68.  I still have those in the paper wrapper from the bank.  I doubt the value of those would make the fee worth it.  Thoughts?  

Is the CAC label an ngc thing or pcgs?

 

I appreciate and and all help.

FRH

A lot to unpack here, lets see.

On 7/28/2024 at 6:31 PM, ruddy1959 said:

I have been buying coins for a while and have quite a few to send in for grading.  How do I package them?  How do I know what " tier" to use?

If you have not this LINK to the NGC submission procedures is the place to start and if you read carefully will answer your questions on how to package and what tier to use if you have a good grasp of the value of your coins, which I would hope you do from your list.   You may want to do multiple submissions depending on how you value your coins; multiple submissions can be mailed to NGC together just be sure each submission has its own submission form.   If after you review the NGC submission procedures, you are unsure of how to value your coins then you might look for an NGC certified dealer in your area from this list LINK and see if they are willing to help you with the submission process.

On 7/28/2024 at 6:31 PM, ruddy1959 said:

I am pretty sure some of them will come back w/ " Details"  what exactly does that mean and what does it do to the value?

Depends on the coin and the reason for the details grade for common coins with minor defects you might see a 25% value reduction, but common coins with major issues like a harsh cleaning could be a 60% reduction or more.   Key dates and truly rare coins (like your Charlotte gold) will see a much smaller reduction in value due to the desirability of those coins even for major issues; perhaps as little as 10%, again this really depends on the coin and the problem.

On 7/28/2024 at 6:31 PM, ruddy1959 said:

My Dad ran a pharmacy in TX and would send us to the bank w/ a $10 bill, " go get a roll of half dollars" in 1964 and 68.  I still have those in the paper wrapper from the bank.  I doubt the value of those would make the fee worth it.  Thoughts?  

You would not want to send everything in all those rolls, you would need to search each roll and pull out only the few that you think have a legit shot at a high grade, you would be wasting your money and the graders time sending every coin in every roll.   Again, this could be an area where a local coin shop might be willing to help you in prescreening all the rolls for solid candidates.

On 7/28/2024 at 6:31 PM, ruddy1959 said:

Is the CAC label an ngc thing or pcgs?

Not sure what you mean here, CAC is a stand-alone company that offers review services of NGC and PCGS graded coins.   If CAC approves a coin they place a small green or gold oval sticker on the slab, these are referred to in the hobby as "beans".

CAC also has a coin grading arm which does the same thing as NGC, ANACS, or PCGS, grading and encapsulation of coins.   You have the option to send your coins to any of the major grading companies, all have their pluses and minuses, how you choose is a matter of personal preference or if your goal is to sell right away then your choice might be swayed by market preference.

I hope some of this is helpful to you.

Edited July 29 by Coinbuf

[Sandon]

    To learn how to submit coins to NGC, go to the NGC home page (ngccoin.com) and carefully review each of the topics that appear when you move the cursor to the "Submit" tab at the top of the page, especially the first three topics, which are entitled "How to Submit" (which references most of the others and is also accessible through the link provided by @Coinbuf), "Coins We Grade & Policies", and "Services & Fees". You can obtain submission forms that you can fill in on your computer and otherwise through the fourth topic, "Submission Forms". If you live in an area near a show where NGC is accepting submissions, you can obtain information about such upcoming shows through the "Events" topic.

   To succeed in submitting coins to a grading service, it is essential that you have knowledge of how to grade and otherwise evaluate coins yourself. However, at least some of the coins you mention (1889-CC dollars and Charlotte mint gold) would likely be of high enough value to make submission worthwhile even if they are low grade and somewhat impaired. This would also serve to authenticate them, as there are many counterfeits and alterations of such pieces. 

    Impairments that result in a "Details" adjectival grade include the various forms of "cleaning" as well as holes, scratches, various other forms of damage, whizzing, and corrosion. See NGC Details Grading | NGC (ngccoin.com). The reduction in market value due to such impairments varies with the severity of the impairment.  NGC does not encapsulate coins that it determines have an "altered surface" or "residue", as well as, of course, coins that are counterfeit or have had their dates, mintmarks, or other identifying features altered. See NGC Not Encapsulated Reasons Glossary | NGC (ngccoin.com).

   Few if any of the silver half dollars likely to be found in bank rolls obtained in the 1960s would have sufficient value (at least several hundred dollars apiece) to make submission worthwhile. If you are referring to uncirculated Kennedy half dollars from 1964 or 1968, it is extremely unlikely that any of them would achieve a high enough grade to be worth submitting. If you've heard of common date coins receiving high prices at auction and think you might have some, please read Jeff Garrett: Fake News and Misinformation in Numismatics | NGC (ngccoin.com).

  As explained by @Coinbuf, CAC (Certified Acceptance Corporation) is a separate company that, for an additional fee, places green (meaning correctly graded) or, rarely, gold (meaning perhaps undergraded) stickers on the holders of NGC and PCGS-graded coins that it determines meet its standards for such opinions, which are widely believed to be strict. Many coins submitted to CAC don't receive stickers.  CAC started its own grading service that also applies these standards last year. I don't recommend getting into this "inside baseball", at least until you have substantial experience with certified grading.

[Henri Charriere]

@Coinbuf & @Sandon :  Thanks for the courtesy of your respective inputs.

I have a question of my own. By any chance did this query wind up in your inbox festooned with a SPAM banner the way it did mine?

There is a disturbing quality to the OPs itinerary. The finest piece of advice I got came from @Oldhoopster before he departed for parts unknown:  "Look it up!" 

The second came from a member still amongst us:

•  Read more,

• Submit less, and

• Question EVERYTHING!  (Emphasis and Exclamation point, mine.)

SOURCE:  @Woods020 12/15/2020.

Edited July 29 by Henri Charriere
Add source, in case Sandon revisits this thread.

[powermad5000]

The other responses covered well much of your query.

I'll just provide a quick hit list.

 --- Package them in a box big enough to handle all of the shipping stickers that will eventually be applied to it. I use a 9 X 9 X 9 cardboard box with plenty of bubble wrap inside. Don't use a box that is only a little bigger than what is inside. These can either be lost in shipping or sadly stolen by a crooked employee. Bigger box is better.

--- Gold is its own tier and its own separate submission form.

--- Coins worth over $300 and are pre 1965 are their own submission form because they are on a higher tier. Coins worth less than $300 and are pre 1965 are their own submission form because they are of a lesser tier. Coins made in 1965 to date are their own submission form for moderns. Many different submission forms are usually needed depending on what you are sending, but they can all be placed into the same big box mentioned above. Rubber band all coins in the flips together and put the submission form (if printed) under the rubber band as well. You do not have to rubber band all the submissions together into one big bundle. Each submission rubber banded together is good enough.

---- Everything must have a declared value. This is where obtaining a minimum of the current Red Book of United States Coins, 2025 would come in handy. You don't have to be exact with this value but just know that if you try to devalue the coin to save on submitting costs, NGC will contact you about it and they will move it to a higher tier and charge the appropriate difference in fee so it is in your best interest to declare the value somewhat accurately.

--- Don't worry about details grades. We all get them. You can't change what you already have and want to submit (unless you sell them raw). Most of us have some details coins in our collections. It happens. Details grades are given for coins with problems. Not an extensive list, but these impairments can be cleaned, bent, holed, tooled, altered color, whizzed, scratched, corrosion, mount removed, damaged, filed, polished, repaired, wheel mark, environmental damage, and spot removed. The two most typical are for cleaned and environmental damage.

--- You need 2.5" X 2.5" flips (I use Saflip). You can get these at Wizard Coin Supply online, or any Hobby Lobby store. You will need some blank stickers to put on the flips big enough to write the submission number on it. You can get these online from Amazon, eBay, or you can get them from Staples, Office Depot, or Hobby Lobby.

--- If you plan to download the PDF version of each submission and print it at home, make sure you have enough ink in your printer as you will have to print many sheets for each submission. You do not need to fill out the consent to remove from holder form if you are submitting everything in 2.5" X 2.5" flips.

--- If you are filling out your forms by hand, your hand will get tired from all the writing. 

 

Good luck and I hope you get good grades in your first submission!

Edited July 29 by powermad5000

[ruddy1959]

On 7/28/2024 at 11:32 PM, powermad5000 said:

The other responses covered well much of your query.

I'll just provide a quick hit list.

 --- Package them in a box big enough to handle all of the shipping stickers that will eventually be applied to it. I use a 9 X 9 X 9 cardboard box with plenty of bubble wrap inside. Don't use a box that is only a little bigger than what is inside. These can either be lost in shipping or sadly stolen by a crooked employee. Bigger box is better.

--- Gold is its own tier and its own separate submission form.

--- Coins worth over $300 and are pre 1965 are their own submission form because they are on a higher tier. Coins worth less than $300 and are pre 1965 are their own submission form because they are of a lesser tier. Coins made in 1965 to date are their own submission form for moderns. Many different submission forms are usually needed depending on what you are sending, but they can all be placed into the same big box mentioned above. Rubber band all coins in the flips together and put the submission form (if printed) under the rubber band as well. You do not have to rubber band all the submissions together into one big bundle. Each submission rubber banded together is good enough.

---- Everything must have a declared value. This is where obtaining a minimum of the current Red Book of United States Coins, 2025 would come in handy. You don't have to be exact with this value but just know that if you try to devalue the coin to save on submitting costs, NGC will contact you about it and they will move it to a higher tier and charge the appropriate difference in fee so it is in your best interest to declare the value somewhat accurately.

--- Don't worry about details grades. We all get them. You can't change what you already have and want to submit (unless you sell them raw). Most of us have some details coins in our collections. It happens. Details grades are given for coins with problems. Not an extensive list, but these impairments can be cleaned, bent, holed, tooled, altered color, whizzed, scratched, corrosion, mount removed, damaged, filed, polished, repaired, wheel mark, environmental damage, and spot removed. The two most typical are for cleaned and environmental damage.

--- You need 2.5" X 2.5" flips (I use Saflip). You can get these at Wizard Coin Supply online, or any Hobby Lobby store. You will need some blank stickers to put on the flips big enough to write the submission number on it. You can get these online from Amazon, eBay, or you can get them from Staples, Office Depot, or Hobby Lobby.

--- If you plan to download the PDF version of each submission and print it at home, make sure you have enough ink in your printer as you will have to print many sheets for each submission. You do not need to fill out the consent to remove from holder form if you are submitting everything in 2.5" X 2.5" flips.

--- If you are filling out your forms by hand, your hand will get tired from all the writing. 

 

Good luck and I hope you get good grades in your first submission!

Thanks folks! This really helps.  I look forward to getting more rare coins.

[ruddy1959]

On 7/28/2024 at 9:15 PM, Coinbuf said:

A lot to unpack here, lets see.

If you have not this LINK to the NGC submission procedures is the place to start and if you read carefully will answer your questions on how to package and what tier to use if you have a good grasp of the value of your coins, which I would hope you do from your list.   You may want to do multiple submissions depending on how you value your coins; multiple submissions can be mailed to NGC together just be sure each submission has its own submission form.   If after you review the NGC submission procedures, you are unsure of how to value your coins then you might look for an NGC certified dealer in your area from this list LINK and see if they are willing to help you with the submission process.

Depends on the coin and the reason for the details grade for common coins with minor defects you might see a 25% value reduction, but common coins with major issues like a harsh cleaning could be a 60% reduction or more.   Key dates and truly rare coins (like your Charlotte gold) will see a much smaller reduction in value due to the desirability of those coins even for major issues; perhaps as little as 10%, again this really depends on the coin and the problem.

You would not want to send everything in all those rolls, you would need to search each roll and pull out only the few that you think have a legit shot at a high grade, you would be wasting your money and the graders time sending every coin in every roll.   Again, this could be an area where a local coin shop might be willing to help you in prescreening all the rolls for solid candidates.

Not sure what you mean here, CAC is a stand-alone company that offers review services of NGC and PCGS graded coins.   If CAC approves a coin they place a small green or gold oval sticker on the slab, these are referred to in the hobby as "beans".

CAC also has a coin grading arm which does the same thing as NGC, ANACS, or PCGS, grading and encapsulation of coins.   You have the option to send your coins to any of the major grading companies, all have their pluses and minuses, how you choose is a matter of personal preference or if your goal is to sell right away then your choice might be swayed by market preference.

I hope some of this is helpful to you.

Thanks a lot Sir, that helps get me started.

[Rod D.]

There is nothing really to add to this thread…the advise given is perfection.

If, by chance, you are still hesitant or confused, maybe pick out 1 or 2 of your coins and submit them.  I did this when I started and was very satisfied with NGC.  

 

[GoldFinger1969]

On 7/28/2024 at 9:31 PM, ruddy1959 said:

I have two 1889 CC Morgan dollars, ( I have all the CC dollars),  some other CC smaller denominations, some Charlotte minted gold coins. 

Could be some valuable coins there if they have NOT been cleaned.  Good Luck and report back, Ruddy !