What would be the best cheapest way to get the most coins graded at NGC? 1 1

[Halbrook Family]

What would be the best cheapest way to get the most coins graded at NGC? 

What kind of money are we talking about? Say for 50 coins for example. If you get a membership you get some free coins graded right?

What would be the price range of coins worth to break even? How do dealers do it where they send in coins that are pretty much worthless? 

[Fenntucky Mike]

Bulk submission, but I think all the coins need to be the same type and the minimum quantity is 100.

For under 100 coins you have to pick the appropriate tier and send them in. 

If you become a premium member you receive a $150 credit, elite you receive the same credit and 10% off on fees. I think you have to be an elite member to send in a bulk submission if I remember correctly. 

Check out the NGC website for their rates. https://www.ngccoin.com/submit/services-fees/ngc/

[powermad5000]

For 50 coins, you would want to pick the Elite membership level and get the extra 10% off, but there is no getting around the tier fees, variety fees, mint error fees, handling fee, or shipping to and from costs. It just is. 50 coins is 50 coins, but it depends on the value of what you are submitting. 50 moderns is about half of what it would cost for 50 at the Standard tier. Lets assume you are submitting 50 at the Economy tier. Just the grading costs with no extras at that tier would run you $1,450 before the extras and 10% comes off. In all, with all the shipping and fees you would be around $1,250 for that many with the credit and the 10% off. If you have even a few in the Standard tier, you are probably going to end up somewhere around $1,400-$1,500. It all depends on what you have to submit.

There is no way really to play a "break even". You have to be really good at your self grading skills to make TPG grading worth the cost of it. Say your skills are off and you get half of your submission back with details grades. Your perceived value upon returning could lose half or more and you end up taking a bath on that submission. There are a lot of factors involved in the whole thing. Many of us have suffered disappointments when we get the box back and open it. Where I have gotten to, my self grading has improved immensely in the last decade. Aside from one or two, I pretty much get back what I figured the coins to be, even those with details grades. Still I get a couple surprises if I submit a lot of coins but my percentage of being "off" is quite low at this point. Much of that has to do with my selection of coins in the first place. I look for raw coins in great condition. I mostly buy at coin shows so I get to do an in hand inspection right then and there and many times will walk away from a coin when I find something I don't like.

There is no easy way to do the whole thing. You have to put in the work to get good at your own self grading to make spending money on grading fees worth it.

Dealers are not going to submit "worthless" coins. If they did, they wouldn't stay in business very long.

 

Edited August 25 by powermad5000

[ldhair]

A person needs the skills to grade and know the value of each coin before playing the grading game. Without those skills, you will not be happy with the results. 

[VKurtB]

On 8/25/2024 at 1:18 PM, ldhair said:

A person needs the skills to grade and know the value of each coin before playing the grading game. Without those skills, you will not be happy with the results. 

But there is a seemingly unlimited supply of new collectors who will ignore this sage advice. I am reminded of the guy at the IMEX Nashville show last year who dumped several thousand on walkthrough grading and the maximum value coin he had was maybe $20. There is somebody out there convincing the newbies that every darned thing needs to be in plastic. It’s just INSANE. But walkthrough!?!? That’s insane on steroids. 

[powermad5000]

On 8/25/2024 at 8:47 PM, VKurtB said:

But walkthrough!?!? That’s insane on steroids.

Part of this is the new generations. They need instant gratification. Same day delivery. Don't wait and save to buy something, just go $30,000 in credit card debt and get it NOW. Always worried about the turnaround times. Wait in lines two blocks long to get the new iPhone even though the one they already have has nothing wrong with it. They NEED walkthrough even if it is only in their heads.

[RWB]

Glue each coin to the back of an iguana and wait for a cold snap. Ship them all to Bradenton, FL using a pre-paid "Florida School Lunch Program" label.

Edited August 26 by RWB

[J P M]

On 8/25/2024 at 12:24 PM, Halbrook Family said:

What would be the best cheapest way to get the most coins graded at NGC? 

The cheapest way is to have someone else do it. I buy already graded coins. If I buy a raw coin, it stays that way.

[Halbrook Family]

On 8/26/2024 at 5:45 PM, J P M said:

The cheapest way is to have someone else do it. I buy already graded coins. If I buy a raw coin, it stays that way.

I don't really see many graded foreign coins. If you find one they seem so expensive.