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What would be the best cheapest way to get the most coins graded at NGC?
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Started by Halbrook Family,

35 posts in this topic

Halbrook Family

Halbrook Family

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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? 

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Fenntucky Mike

Fenntucky Mike

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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/

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powermad5000

powermad5000

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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 by powermad5000
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VKurtB

VKurtB

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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. 

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powermad5000

powermad5000

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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.

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RWB

RWB

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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 by RWB
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J P M

J P M

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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.

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Halbrook Family

Halbrook Family

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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. 

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Halbrook Family

Halbrook Family

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I don't see that many foreign coins graded. Foreign to me but not maybe someone in Canada or GB that is. Still trying to take some decent photos. These probably are not them. One thing I find a bit harder is to find out if something is cleaned or not. 

First coin I think is probably harshly cleaned but a MS details perhaps?  

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powermad5000

powermad5000

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I still see some luster in the first photo, so I don't think it was cleaned per se (I don't have the coin in hand to tilt it to the room lighting), but it does look like there is some spotting developing on the obverse, almost like milk spots.

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Coinbuf

Coinbuf

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On 9/21/2024 at 12:13 PM, Halbrook Family said:

I know I need to work on my pics to get the right opinion. Think this one is cleaned?  

I would not rule it out, but it looks moderately circulated more than cleaned.

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Coinbuf

Coinbuf

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On 9/21/2024 at 12:17 PM, Halbrook Family said:

I thought this one looked pretty good. But there is alot of them out there. 

Same not obviously cleaned but well circulated.

Edited by Coinbuf
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Sandon

Sandon

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   The 1894 British florin and the 1927 Australian florin have unnaturally bright surfaces, indicating that they have been "dipped" in an anti-tarnish solution. I can't tell whether they have significant hairlines. If they have just been "dipped", in my experience they may or may not receive numerical grades depending on how unnaturally bright they are. I submitted this Isabella quarter to NGC, which has no unusual hairlining, just surface abrasions, and it was graded "Unc. Details, Cleaned."

1893Isabellaquarterobv..thumb.jpg.6c47aa860904bc9ed602d918d9609631.jpg

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   The 1910 Edward VII florin that was just posted doesn't look dipped or "cleaned" but is rather well-worn, probably to Very Fine or so. The 1907 two pence shows high point rub and is likely to receive an AU 55-58 grade. As in the case of U.S. coins, unless you are able to determine that a coin is worth at least several hundred dollars in its likely grade range, it just isn't worth submitting!  While you may not see many third-party graded world coins in your local coin shops, they are available from dealers at coin shows and reputable national companies such as Heritage and Stacks Bowers. 

   If, based on what you wrote in another topic, you are trying to find coins for NGC registry sets, remember that world coins must be NGC certified to participate in the registry. If you're actually trying to compete on the competitive registry, you should also check the number of points the coins would receive in the slots in which you would place the coins.

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Halbrook Family

Halbrook Family

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On 9/21/2024 at 1:04 PM, Sandon said:

 

 

 

   If, based on what you wrote in another topic, you are trying to find coins for NGC registry sets, remember that world coins must be NGC certified to participate in the registry. If you're actually trying to compete on the competitive registry, you should also check the number of points the coins would receive in the slots in which you would place the coins.

The 3 foreign coins I got so far are ngc. Canada GB and Ceylon

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Halbrook Family

Halbrook Family

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1909 pointed leaves. I think I need to practice my photos more before I ask for help in grading my grading skills. 

I would say this is XF maybe even au. But not quite. There is some good circulation marks on back. Obverse I could have took a better pic

AU is $179. 

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Sandon

Sandon

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   Actually, there are currently 8,456 sets in the NGC registry under "Canada", the fourth most of any country in the registry. See Countries | NGC Registry | NGC (ngccoin.com). The set category you chose for George VI 10 cents, only has 19 participants, and you are in tenth place in that category.  NGC has currently graded 778,122 Canadian coins, the third most of any country, though in contrast NGC has graded over 38 million U.S. coins. See NGC Coin Census Population Report | NGC.

 

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Greenstang

Greenstang

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I was going to comment on your Canadian coins but you were posting pictures faster than I could keep up.    
Suggest posting one coin per thread with the proper title. This will avoid confusion as to what coin people are referring to. 

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Halbrook Family

Halbrook Family

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This just goes along with my  question though.  Am I in the ball park on grading (though I need better pics) ? There might be a couple worth grading I don't know. 

 

This 1880 H SS would be amazing in a bu state. This might be a VF could it be a XF? Nice to pull a 60 on it but no. Not close enough by any means. 

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Halbrook Family

Halbrook Family

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On 9/23/2024 at 7:42 AM, Greenstang said:

I was going to comment on your Canadian coins but you were posting pictures faster than I could keep up.    
Suggest posting one coin per thread with the proper title. This will avoid confusion as to what coin people are referring to. 

I'm just trying to get some experienced help with grading a bit. You guys are great at pointing out things. Stuff that isn't in a book or website. 

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