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Bulk cost of slabbing NGC/PCGS

Started by ewitte-migration,

14 posts in this topic

cpm9ball

cpm9ball

Posted
Posted

I believe that bulk submission rates are available for dealers only. Someone please correct me if I am wrong.

 

Chris

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Larry Dreher

Larry Dreher

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I had a group of 125 silver pandas I wanted graded. I inquired about a bulk price at NGC and was told it was only available through dealers. I went to a local dealer who agreed to submit the batch for me. The price I'm getting charged is $10 / coin for those graded 69 and $24 for those graded 70. Anything that doesn't meet the minimum of 69 is returned ungraded at no cost.

 

I obviously need to pay postage both ways in addition to tax.

 

I have no idea if the dealer is making a markup on this or if he's passing his exact cost on to me.

 

The order was just sent in on Monday so it'll be several weeks before I know how this is turning out.

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cpm9ball

cpm9ball

Posted
Posted
I had a group of 125 silver pandas I wanted graded. I inquired about a bulk price at NGC and was told it was only available through dealers. I went to a local dealer who agreed to submit the batch for me. The price I'm getting charged is $10 / coin for those graded 69 and $24 for those graded 70. Anything that doesn't meet the minimum of 69 is returned ungraded at no cost.

 

I obviously need to pay postage both ways in addition to tax.

 

I have no idea if the dealer is making a markup on this or if he's passing his exact cost on to me.

 

The order was just sent in on Monday so it'll be several weeks before I know how this is turning out.

 

It would seem to me that the dealer is making a profit. If the bulk submission rate is actually $5 as previously stated, then the cost for your Pandas would be $625 + postage & insurance. For argument's sake, let's assume the total cost is $675. Now, let's assume that all of them come back 69's. He is charging you $1250. That seems like a pretty hefty profit just for completing a form and mailing them to NGC. Now, let's take it one step further and assume that he is submitting for several more people at the same time. 893scratchchin-thumb.gif893scratchchin-thumb.gif893scratchchin-thumb.gif893scratchchin-thumb.gif893scratchchin-thumb.gif893scratchchin-thumb.gif893scratchchin-thumb.gif893scratchchin-thumb.gif

 

Chris

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Larry Dreher

Larry Dreher

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It didn't seem that Chris was too sure of the $5 value he threw out there. I wouldn't begrudge a dealer from making a profit but my general impresion is he's not getting them for $5. I don't see how NGC would make much of a profit at only $5 / coin. Maybe with submissions in the thousands the price might go that low.

 

I found it even more interesting that there is a price difference on what they charge between 69's & 70's. Seems to me they have a financial incentive to give me as many 70's as possible smile.gif Also interesting is there is no charge for coins that don't meet the minimum grade. I wonder if they'll come back in a flip with the grade they would have had like they do for personal submissions.

 

When I get everything back, I'll update this thread.

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cpm9ball

cpm9ball

Posted
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It didn't seem that Chris was too sure of the $5 value he threw out there. I wouldn't begrudge a dealer from making a profit but my general impresion is he's not getting them for $5. I don't see how NGC would make much of a profit at only $5 / coin. Maybe with submissions in the thousands the price might go that low.

 

I found it even more interesting that there is a price difference on what they charge between 69's & 70's. Seems to me they have a financial incentive to give me as many 70's as possible smile.gif Also interesting is there is no charge for coins that don't meet the minimum grade. I wonder if they'll come back in a flip with the grade they would have had like they do for personal submissions.

 

When I get everything back, I'll update this thread.

 

I didn't just throw it out there. It was suggested in another post.

 

Chris

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Larry Dreher

Larry Dreher

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I didn't just throw it out there. It was suggested in another post

 

Sorry Chris, I meant to say James. blush.gif

 

I also didn't mean any offense by the phrase. It didn't seem to me he was too sure of that figure.

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James_OldeTowne

James_OldeTowne

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((( I don't see how NGC would make much of a profit at only $5 / coin )))

 

That was my statement. I believe it isn't far off, and I know for a fact that ANACS can make a profit at $6 per coin, having submitted coins at that price myself. I should think that NGC, being the bigger company, would be able to yield a profit at an even lower premium.

 

James

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Larry Dreher

Larry Dreher

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893censored-thumb.gif now you guys are making me feel bad. I was feeling pretty good about the $10 price until now smile.gif

 

I'm going to ask if I can see the final invoice that comes back. Like I said, I don't mind the dealer making a profit but 100% seems a little high.

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gmarguli

gmarguli

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893censored-thumb.gif now you guys are making me feel bad. I was feeling pretty good about the $10 price until now smile.gif

 

I'm going to ask if I can see the final invoice that comes back. Like I said, I don't mind the dealer making a profit but 100% seems a little high.

 

The dealer is making a sizeable profit on you. The $5 rate guess is low and I haven't heard of anyone getting coins graded that low in several years, but it isn't that far off. Personally, I think the dealer is raping you to charge what he is, but it's a free market.

 

Personally, given the fairly little amount of work involved in bulk submissions, I'd probably charge a $1-$2 a coin above cost + s&h and if it were something very simple (i.e. 100 silver eagles of the same date) I may just tack on $50 plus costs.

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gmarguli

gmarguli

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Also interesting is there is no charge for coins that don't meet the minimum grade. I wonder if they'll come back in a flip with the grade they would have had like they do for personal submissions.

 

No, they'll come back in tubes. There will be no note as to what they would have graded.

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BigBen-migration

BigBen-migration

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Right now the going rate for normal bulk submissons is $6.50 a coin, and any coin not making the minimum percentage and minimum grade is charged at $1 per coin. If that dealer is only mailing it in for you then yes he's making a nice profit off of you. If he's actually pre-screening the coins and then re-packaging them then that's reasonable. If not, I would call another dealer. The dealer should get something for his time but he's asking an unethically high amount if only sending it in for you.

 

Cheers,

 

BigBen

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ewitte-migration

ewitte-migration

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  • Author
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Right now the going rate for normal bulk submissons is $6.50 a coin, and any coin not making the minimum percentage and minimum grade is charged at $1 per coin. If that dealer is only mailing it in for you then yes he's making a nice profit off of you. If he's actually pre-screening the coins and then re-packaging them then that's reasonable. If not, I would call another dealer. The dealer should get something for his time but he's asking an unethically high amount if only sending it in for you.

 

Cheers,

 

BigBen

 

Cool. If needed since its to be sold I'll see what needs to be done for Dealer status wink.gif That wouldn't be too bad for uncirculated, don't slab anything under MS65. Most of these are $30-$35 for that grade and would easily sell at $15-$20. Another question. Do the rolls with noticeably better end coins usually end up better overall?

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