Hey guys, I got a few questions for you. I am thinking of joining NGC and becoming a member of their's, and with that if I purchase one of their packages, I get 8 free submissions I think. I have a few nice pristine (or what is pristine to me, pristine might be different to some of you other guys, lol, nothing really rare or anything) Lincolns that I need help on determining if they would be worth sending in to getting slabbed or not. Thanks ahead of time for the advice! First off I have a 1991 D that is really nice, but I can't seem to make up my mind whether or not if it would be worth it to be sent in. If I join the club, I can send it in for free, and I also got this guy for only one cent. So I don't really think I am losing any money or anything, other than losing a free submission. Now my personal grade of it is MS 67+, they might grade it a 68. But it is a really nice looking coin, and if you guys want pics I can try my best at attempting to get a decent pic for you guys, but my camera isn't all that good. But if you want pics I can try to get some. Thanks. Then I also have I 70 S cent. I grade it a 66 as my own personal grade, don't know if it is a small or large date. Can post a pic of this one also. I then have an 84 D, which I don't know how to really grade. This is a really nice pristine coin, nice soft look if you know what I mean, has a new pinkish color. I worry about favoring this coin a little too much, and can't really distinguish the marks on it. Nothing bad, not hit marks, more like color marks if that makes any sense. I would grade this coin a 66 by my gut, but I don't know. Might be a 64 for all I know. I am actually going to get pics for you guys to judge for yourself in a little while. Thanks ahead of time. Phoenix
I submit to NGC from time to time, but have never joined. I joined ANA, and that gives submission privileges to NGC / NCS. For some coins, the cost of grading simply doesn't warrant submission. For instance, common date Morgans in low MS. Why submit a $20 coin for $30 grading fee ? It still sells for $20 slabbed or not. In your case, the 8 submissions are "free". But are they ? Not really. Take the cost of joining ($99) and divide by 8 submissions - that's about $12.50 per coin. Add in the cost of postage there and back (maybe $20). In reality, you're investing about $120. So what's the market value of the coins ? Grade 'em yourself and see. In my mind, they should be worth at least 3x the cost of grading, or $360. Also... why slab at all ? What's the "value add" ? Well, it makes 'em more marketable - saleable at Heritage and Teletrade, for one. It also gives the buyer confidence that they aren't altered, cleaned, or counterfeit. But late date Lincolns don't suffer much from those problems.
Actually, when you join NGC for $99 you only get 5 free submissions, but you do receive direct submission privileges for a year and when you create invoices online you get a 10% discount. Can you post some pix of the coins you're thinking about submitting?
Never thought of it that way, you are right. Except the reason I want to send these in, is right now they are worth basically only one cent really each. If they have a grade, I don't have to worry about someone spending them. The 1991 D I am really debating whether or not I want to take the chance, looked at it over magnification last night, and there are only two hits total on it, and are only visible under magnification. So there is a chance it might grade a 68 or a 69 possibly now. I am really sorry on the wait for pics, my camera is acting up on me, and I can't get any decent pics. Sorry guys. The others I don't think I will send in, don't really expect an astounding grade from them. Thanks for your advcice and opinion! Oh, okay. I accidently added in the other submissions to the other companies too. Sorry about that. I will try to get pics, but is really hard. Sorry about the wait. Thanks for the help so far! Phoenix
Just so ya know Phoenix, the odds of a business strike getting graded as 68 or 69 are about a million to one. Maybe higher. They're not worth it pal.
I reserve grading for coins in which the authenticity would commonly be questioned (aka frequently counterfeited/altered coins). The other category I would consider is if there is a sufficient jump in price for small increments in grade numbers (many semi-keys have a huge price jump from AU-58 to MS-60. either way, I only consider the slabbing if I'm actually considering selling the coin.
I'm not a slab person. When I see a coin slabbed I always tell dealers I refuse to pay extra for plastic. I always break out any slabbed coins. I have none, don't want none either. At coin shows I'm always fasinated by coins that are worth only a few dollars in a slab. I just can not imagine why anyone would pay more for a slab than a coin is worth. Sorry but if I were you I would save that money and buy a coin instead.
Yeah, I've figured that. Chances are pretty slim, and now I am really reconsidering it. Thanks for the advice man, I might just buy a nice Lincoln wheat cent or two with the money. Thanks man! Yeah, but then I gotta shell out about $200! I don't know if they would be worth close to that really. Thanks for the heads up though man! Yeah, that's what a lot of people do I think. I am wondering if I should send in my 1909 S horizontal S cent when I get it to send in. Don't really know though. Something like that could always really late, doesn't make that much of a difference really if I send them in today or next month IMO. Thanks for the tips man. Actually, neither am I really. I like to hold my coin and look at it at all angles (holding it on it's rim of course ), but was just wondering if it would be worth it to send them in, also protect them from getting any real contact marks or so. But I think I might just buy some coins I need first. Thanks for the tip! Thanks all for the replies and help! It is really appreciated by me and my wallet. Phoenix
I would just join the ANA and get submission privileges. ANd get to submit and you get a magazine, good deal.
Phoenix: I have given your question a lot of thought. And the answer, as I see it, is: You'd have to get an extremely high grade inorder for the fees to be worth it. So, the only question is, how high do you really think that they will go? Personally, with the moderns, I don't really care for the grading services, it appears that it really is "who ya know". I'd save the slabbing for scarce coins. Or questionable ones. I recently submitted a 1942 D merc to NGC. Everyone told me that it wasn't the overdate, but hearing that, I felt that I could never sell it for its true value if I didn't get it slabbed. Now it is happily residing labeled as a 1942/1 D XF-45 NGC holder. Sometimes it is worth the bucks, sometimes it ain't.
