PCGS recently announced a price reduction on their bulk coins, but http://www.pcgs.com/services/bulksubmissions hasn't been updated since 2011? Does anyone have a sense of what bulk grading for something simple like Silver Eagles would be or the volumes needed to get better pricing than that listed on their website? Thanks!
I think it's 100 coin minimum and cost per coin depends on that coins grade. Not sure if ase's have special rules and costs though
What you see is what you get! Regardless of what you submit. For ASE's, just specify MS69 as minimum grade and then prepare yourself for having to sell them all. Expect 5% to grade MS70. Expect to over and above $12 for the MS70's. Additionally, all bulk submissions MUST be in Tubes or Sealed US Mint packaging. I once submitted 50 James Monroe Coin Covers for 1st Day of Issue but that was when it was $10 per coin and/or $2 for non-graded coins. If you've got $1,200 +shipping to/from and coin costs to throw away then go for it.
What do you mean " 4-digit coin quantities" since, even though it is not mentioned, PCGS bulk submissions are limited to 500 coins?
Exactly what do you mean? Legitimate for the submitter or legitimate for the TPG? For the smart submitter, yes, it is BUT you've got to get to the market 1st to service the eager clientele. By that, I mean, your SAE Purchase needs to be submitted in January if each year or as soon as possible after a coin is released. That way, you'll hit the market when everybody else does. Get to the market too late, and you could get stuck with a bunch of unsellable inventory. Of course, arrangements could always be made with other firms to handle a reasonable amount of your submission at a pre-negotiated price. As for the TPG's? Sure, its legitimate since they don';[t have to sell what you submit for grading. All they do is slap them into a Slab wit a label and send it back to you. No different than single coin submissions except that the bulk grading department, quite possible, have different graders. It's a grading business.
The only guy I know personally with such a deal (from NGC) had to commit to submitting >1k IHC's (not necessarily simultaneously) to get it. The number is under $10 each.
