Submitters, am I the only one that feels used?

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Yes, this seriously ticks me off. You don't charge someone for their service until you have performed the service, and it isn't like they don't have collateral, they have the damn coins. With turnaround times approaching 3 months, it is criminal that they charge the grading fees when they enter the invoice in their computer system.

 

Unlike NGC/ANACS, PCGS doesn’t charge until the order is shipping back which is how it should be. You’re basically giving them a free loan when they charge immediately

 

ICG charges a credit card when the coin is shipped. As far as cash and checks, They are deposited when the coins arrive.

 

If my business were as a coin dealer, I would absolutely be furious that my cash was tied up for ninety days. This shouldn’t have to be tolerated. Charge the client when the service is tendered.

 

Yes, I noticed that when I started submitting to PCGS.

 

I think it is not only annoying, but irresponsible on the part of TPGs. Any other business is payment is due, upon services being rendered. Also, given their processing of orders being so delayed makes it doubly annoying.

 

Airing of grievances! Spirit of Festivus at its finest!

 

There is a positive to it. You can catch it before services are rendered if there is a mistake that affects the total charges. My last NGC submission I was overcharged by about $750 and I called them right away and it got sorted out.

 

Right sometimes, but I mean if there was a mistake like you accidentally submitted an entire order for an add on service instead of a single coin on the order. It doesn't help you to discover that type of mistake after the fact since the additional unwanted service would have been completed. Or the opposite, that you found out a service was not performed and the coins are already in the mail back to you.

 

Yep the only thing I don't like about pcgs charging me the day they ship is, I have to remember to keep my balance high enough to cover it. Because it's usually 2 months before they get it finished for what I send in.

 

Have you address this grievance with the TPG? I'm just wondering what they have to say and if they know how many collectors are upset with this issue.

 

Sigh.......

 

Oh dear...I sense some pending words of wisdom from the all-knowing charley. Shiver me timbers!

 

Yeah, the charge and then waiting two months has rubbed me the wrong way. I've noticed.
They need to shut down and grade what's there for two months, not accept any new orders. Spend the time re-training and hiring more people. It might take 3 months for them to truly get caught up on everything that's there right now including World and ancients. Once caught up, start accepting new orders with reasonable turn around times. The delays never improve, in fact they just keep getting worse. They never get caught up.

I heard they're struggling to get all the slab supplies in as well. Certain labels not available. Scratch resistant slabs went unavailable for 6-9 months. They're struggling to get cores for the slabs. A shut down would give a chance for things to get re-stocked.

 

I'm not a fan of this either but the bigger issue for me is the wait times. These have gotten unreasonably long. @Vess1 brings up a good idea of them just shutting off subs to catch up. However, that could adversely affect their cash flows and could mean even more people switch over to PCGS (or Anacs/ICG).

 

The grading companies are swamped right now with peace and Morgan dollars. It is what it is. And a lot of us are contributing.

 

Shouldn't this question and all these opinions be directed to each of the the TPG's and not just aired here? The grading companies in question must be made aware of their customer's displeasure in how they're handling our payments and the long delays in the services we pay for them to provide for those payments. I notice that NGC, in particular (and without notice to the consumer) has recently extended the expected turnaround times for each level of service (adding weeks in some cases!). For example. this is now the expected turnaround time for an Earlybird/Standard submission: US: 60 days; World: 88 days - TOKENS- US: 66 days; World: 84 days, and turnaround times for all other levels of service have also been extended.