Your thoughts wanted: I'm starting my own grading service

I am putting the finishing touches on starting my own grading service. I am just seeing if there would be any interest here in having your coins certified.

My goal is to be the most economical service, and I am not at all trying to compete with PCGS, NGC or ANACS.

I am looking at a price of between $4 and $5 per coin, plus the cost to return ship the coins. This is less than half the cost of ANACS, which is cheaper than NGC and PCGS.

Another benefit would be quicker turnaround times than the others. This would also allow you to certify coins of less value that you still want certified.

If you have any thoughts or suggestions, feel free to PM me.

 

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I should add that I have looked at ICG's website, they want $12 per coin minimum, plus $24 for return shipping.

I am looking at about $15 for return shipping.

I think the end result will be that more people will be able to have their coins certified. The pricing scales of the well known graders are really out of range for the average collector.

If my pricing seems acceptable to you, please let me know.

I'm looking at around $4-$5 per coin, $15 return shipping. Coins return shipped within 3 business days of receiving them.

 

Out of curiosity would you slab them too or just grade them?

 

Let me see if I have this right.

I send my coins to you and pay a few bucks and you tell me what you think they are worth?

I'ld rather start my own interstate highway system and set up toll booths every now & then to cover the cost.

 

Yes, that is what I meant. You would receive your coin in a slab, graded.

All coins would be slabbed even if they are determined to be cleaned or not problem free.

The better known varieties would also be attributed free of charge.

I think it's just something for collectors who don't want to spend a fortune at PCGS or any of the others. It really can be done much cheaper.

 

Certainly there would be no implication of how much the coins are worth. Simply a slab and a grade.

 

Undergrade everything and you will get a good rep for being conservative! lol

 

What kind of guarantee? I think you will find that a lot of teh costs come from tis side of the story.

 

Interesting. It will be hard, but if you have the talent and are good at what you do, you should be succesful. But you must also be persistent. Are you registered with the ANA?

 

First post in ages..lol


stainless

 

You are "Tilting at Windmills"

http://en.wikipedia.org/wiki/Tilting_at_windmills

You should first build a numismatic reputation before you start this venture - whether through your own scholarship or by affiliation with credible companies.

Price is a relatively minor factor in why people choose a certification company. More significantly, the credibility of the graders in being able to grade accurately and to weed out counterfeits is most vital to the success of such a venture - both critical if one wants to protect their investment (along with their guarantees). Yes, the major companies charge more, but one gets more for the dollars paid.

What do I get from you if I send you $5 + shipping fees? Since you are unknown and unproven, much less than the above.

The above isn't meant to anger you - only to state what most would say is reality. Good luck to you in your efforts!

 

You could get yourself in a lot of trouble... Is this your personal opinion of the coin? Are you an expert? What certification comes with a slab of yours? The reason people pay more to have coins graded by NGC and PCGS is because of the guidelines for each grade and several professionals all settle on the same grade. If you have watched the PCGS video it shows you how the coins are examined by multiple pros. Then when you receive your coin back you have online price guides and population reports for your coins... heck you even get to compete against others with your grade coins. If this is just your opinion on the coins' grade then why wouldn't we just go around to shows have dealers tell you what the grade is then throw it in a slab yourself.I'm sorry but I don't see how this could be profitable to you or the coin community.

 

=p

 

I think that all graders should be certified with a license from ANA, proving they have passed a qualification test.

 

I agree. That's why I asked.

 

I forgot to mention reputation... how would you automatically become THE PLACE to get your coins graded when you can do so much more with a coin for $20 more? Would your grading costs be the same for each coin or different based on errors, rarities? Guys correct me if I am wrong but isn't the way the PCGS made it so big was building a reputation by buying back the coins they made an error on? Do you plan to build your reputation through buy-backs?

 

An excellent point. I forgot to bring that up in my original post.

 

I suggest that you really think about this.

 

What are your credentials?

 

OMG Please dont. For your sake and ours. You are just going to waste your money. Its not about grading fees, its about the guarantee. Its about the very knowledgable and very experienced people running the big 4 grading services. And in my personal opinion the only two that carry weight is PCGS then NGC. The gradings services are the ones that make the maket place and the vast majority of dealers and collectors will only honor the pricing from those companies.
If you want continue your company, but you will just be putting coins in plastic holders with labels that dont mean anything.
I very much respect your enthusiasm I think it is a great idea, but PCGS and NGC have spent decades backing thier reputation and tust me when I say you are swimming with sharks.
Two guys started the whole idea of a grading service back in 1972 in Washinton DC. They called it ANACS and they made Colorado Springs thier headquarters in 1976. In 1983 Ken Bressett (editor of the red book) was named the Director. Bressett is one of the most knowledgable Numismatists of all time. That is why people cant just come off the street and start a grading service.