I was not calling you I liar. My point was maybe do the right thing for your customers and the hobby by using an industry approved TPG? Your customers will get a fairly graded coin and an insurance policy as well. You CAN pass this cost along to your customers because customers will pay more for it from PCGS or NGC. The cost should really be irrelevant.
Not with all coins...if you don't choose wisely, you will lose money on the submission. Perhaps the quality of coins he deals doesn't allow him to spend the money. I'm sure he does add the cost of SEGS submission to his coins to cover his overhead. If that is the case, I'd rather buy raw than buy coins slabbed in a low tier slab.
I agree...but lets say I have a random stack of semi-common MS Morgan Dollars. If I cherry pick through these, I might find a couple MS65s worth sending in for grading...the rest are MS63s that if graded by a major TPG I MIGHT break even with fees but more than likely will lose money. What most good major dealers will do is submit those cherry picked examples to PCGS/NGC and sell them for a nice profit. The rest will be sold for a smaller profit as raw coins. Now, if I used a second tier TPG...with lower fees, I might submit all of them and those 63s come back as 65s and those 65s come back as 66s or 67s. Now, I wonder which path will net me the most money? This is the problem with lower tier TPGs...but it's really the problem of the uneducated buyer.
One thing that both NGC and PCGS do is the bulk submission program. This works out well for dealers like me by setting a fixed, discounted rate at which I can get 100 or more coins certified...now 100 coins can be hard to come up with for the average vest pocket guy... But for the mid sized store guys... It's really useful. I just sent 200+ BU merc dimes to PCGS and am being charged a flat rate of $5 a coin... This sets a price which I know I can pay for the coins and come out with a certified coin to inventory.
$5 a coin from PCGS? Wow! I never heard of such a bargain from them. Got to admit that's quite a fantastic deal you're getting. How did you broker that with them? I'd like to see your results of the submission and whether or not it turned out well in terms of the grades returned.
Now not any ole joe can use this program. This is a program that is extended to certified dealers for PCGS. It is not easy by any means to become a certified dealer but it can be done if you are in the business long enough and have proper references. NGC offers a similar program as well. This is just the price I was quoted for mercury dimes. Other coins may be more or less.
I have 9 all of which I sent in. I also had a few others that came back cleaned and sent them to PCGS and they came back graded. Dominion was very tough on their grading
Fascinating. I'm wondering about a coin that SEGS returned to me as a light "lite" cleaning. I looked it over and I wasn't totally convinced the coin was cleaned. See PCI of today (once Dominion) has done a 180 u-turn and now grades cleaned coins without any mention of it on the holder. I wanted to submit to them one of these questionably cleaned coins returned to me from SEGS however given PCI's lack of telephone personnel I'm questioning how reputable a company they are. They never returned my phone calls either. When I deal with SEGS it's small and I may reach anyone I need to. That's a big plus and raises my confidence in doing business with a company like that. I was also impressed with ICG for their communication with me. I've called NGC and PCGS and was pleased I could always at least speak to an operator. So let me ask you are you looking to keep all of your 9 Dominion slabs? I have 2 but wouldn't mind picking up some more since I don't see them around too often.
the PCI of today and Dominion have absolutely no connection with each other except for the plastic shells that both of them used. The companies are totally different people. The old PCI under the two or three owners before it became Dominion also slabbed problem coins in their holders without any mention.
So wait...are you questioning how reputable they are because they grade cleaned coins without any mention of it on the slab or because they won't answer their phone? To me, the former seems like the bigger problem...but since you are trying to get a cleaned coin graded (that not even SEGS would grade) without any mention of it, I assume you consider the lack of telephone support the bigger problem. Did I get that correct...or did I misread?
That would depend on the dealer and their clients. Although I share Your anti ASE slab sentiment.....I know plenty of dealers who are paying slightly more for slabbed ASE`s, as they have sold them in both ANACS and ICG slabs for more than a raw example would sell for. The other lower tier slabs are another story though. I don`t know anyone whose paying a premium for them.
You hit my concerns spot on 100%! You nailed it, it's like you read my mind. Between their low grading standards and lack of telephone support I'm wondering if I can even trust them with my coins.
My DGS collection, I had these done when the first started. This was a division of David Lawrence Rare Coins
reputable,I would say no, I have a trade dollar they graded that came back as fake when I tried to crossover to anacs, tried to contact them they never responded
Did the slab really say "lite" cleaning? That would be a huge red flag for me, if it had been cleaned or not.
These threads with low level slabbers are too much. I'm relatively new to the hobby, (1.5 years), but I read a lot of books, participated on some coins websites (mainly read them), tried to educate myself quickly and listened to the experienced collectors. It was very clear early on in my learning curve that coins graded by companies other than NGC and PCGS should be viewed skeptically. Proceed with caution with the other TPG's. Question everything. In some cases the coins authenticity is questionable, in some cases it's problem free condition is questionable and in ALL cases, the grade is questionable. That doesn't mean the coin may not be what is actually listed on the label, but the vast majority of the market does not value a coin outside NGC and PCGS plastic in the same regard. I don't know why that's so hard to understand. Edited to add: buying outside the top two should be left to very seasoned collectors or enlist one of them to help you before the purchase.
