Can anyone here afford submitting to NGC?

(Should this be a poll? )

I just received the submission paperwork from NGC so I'm ready to go whenever I want.

As I've tallied up the numbers for a VERY small amount, ( forget about the hassles of filling out the forms and mailing!), the costs involved are outrageous!
To also then consider that the slabbing fees technically don't even raise the price of the coin, it makes you wonder why much of anything has been submitted. It's all the little stuff that they nickel and dime you on. Nothing they do is a courtesy or included with anything.

In case anyone is not familiar with the costs involved, here's my example:

I would like to submit the 5 coin *minimum* using the "economy" :mouth: tier, at $16 per coin. This is the initial $80.00 cost of my 8 coin order and we're juuuust getting started.

Next, I would like to get 3 coins in bad slabs, re-holdered in new scratch resistant Edgeview holders. At $10 a piece, there's another $30.

One is a capped bust half I would like reviewed and labeled for it's Overton variety. Tack on another $10.

Next, I would like a nickel reviewed for possible FS and a Lincoln reviewed for a RD or RB designation. At $10 a piece there's another $20.

If you choose to have them imaged for the internet so a pic comes up when the serial # is authenticated online, that's another $3 per coin and they must do ALL coins with the order if this is selected. Another $24.

Now the coins have to get there. Probably another $20 to get them there.

Once NGC is done, now they have to get back to you. Ok, let's see.... 8 coins..... return postage is $9.75 plus insurance for another $14.95!

80.00
30.00
10.00
20.00
24.00
20.00
24.70
+ No gurantee that anything will receive a numerical grade or variety
________

$208.70 to do this.

And it isn't like you can shave off a few from the order and cut the expenses. It's a 5 coin minimum for the *cheapest* service available with 21 to 39 day turn around times!

I'm sorry, but I think this should cost about $60 max to achieve what I want done with this order, plus maybe some shipping fees. You almost gotta have something you REALLY, REALLY want slabbed to send it in and then you have to keep your fingers crossed I guess. Then wait a month. I mean, I've narrowed it down to where I can hardly come up with a 5th coin that's not already slabbed, that would be worth submitting.

Now, is it just me or does the value here not seem very good? I was all ready to go ahead with this when I thought it would be around $100 but now, this just kind of took the wind out of my sails.

I can practically buy 1/5 of an once of gold or a 10 oz bar of silver for what it will take to encapsulate these 8 coins with appropriate labels. And 'hopefully', everything grades out. Again I ask, is this a good value?

I really like NGC and prefer their slabs to PCGS but I'm not happy with this at all. :computer:

 

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Just want to add that I'm basing the above opinion on 4 main points:

- The actual materials involved cost pennies.

- The shear amount of time they have available to accomplish the task

- This is their cheapest grading teir

Last but certainly not least!....

- The amount of risk involved in whether or not anything will even get to receive a numerical grade making it worth the submission

I could drop off the photo portion and maybe determine myself that the nickel may not be FS. That cuts the price down to $175 range. Then roll the dice.
I might do this anyway for the sake of my own entertainment, just as much as I want them in the new slabs. Which seems a little disheartening.

 

Yes!!
I just submitted 24 coins and they have alreay been graded and on there way back home. I just finished packaging up another 21 coins that are going to NGC tomorrow.

 

Every slab that they grade gets the photo done for Verify NGC Cert service.
The $3 is better photo's that are emailed to you!! I would not recommend this service, the photo's are poor quality IMO.

 

Let's start by wacking some of your cost. To reholder a coin is $5 (unless you want their new scratch resistant holder). Lincolns are automatically graded RD/RB/BN at not charge. Not sure about this, but I believe Jeffersons are all graded 5/6 steps (if they deserve it) at no charge. However, to add to the costs, you will be getting 2 shipments back - one with your reholders and one with the rest.

I might suggest working with a dealer to combine your shipping or getting another to join you.

 

I can't afford NGC grading with $200 in my pocket and joining for the collectors society $37 a month on top of that the price for actually grading 5 coins for $15 each and shipping. Just way too much.

 

It only cost $39 to be a member for a year!!

If you upgrade to the premium level which is $109 you also get a coupon for five free submissions.

 

I'm an elite member. $209 a year with 5 free submissions and 10% off, it works really great for me.

 

If you send more than 1 invoice to NGC all you have to do is request that ship all of the invoices together and it will save you on the shipping.

Getting 5FS or 6FS, FT, FB, FBL, FH, PL, DPL, RD, RB and BN on the label is free as long as the coin deserves the designation.

 

Elite membership is $249 http://www.ngccoin.com/collectors-society/default.aspx

The price difference is $140 to get that 10% discount. To break even, you only need to submit:
47 at the Early Bird Tier
88 at the Economy Tier
112 at the Modern Tier

 

General George Patton said (and I'm paraphrasing), nobody won a war by dying for his country. He made some poor old #$%*&^ die for his.

Applying this logic to slabs....I don't submit coins to TPG's. I make some other poor old ^&%$#@ submit his. Then I buy them at much more cost effectiveness....

 

Giddy up! :hammer:

 

Unfortunately that,s the price of doing business!!

 

It's nice to know you have my back old sod.....:smile

 

Aint that the truth:goofer:

 

Ditch the fee for pictures - there isn't a real benefit to your coin collection for that service. there you'll save $3 X 8 = $24.

I take coins out of slabs myself. It's really not hard and I've never come close to damaging a coin. I don't recommend anyone do it, but my little dremel can do anything and I take it to task. That COULD save you that cost. Obviously, practice on the coin you care least about ...

I personally hate the extra shipping/insurance fees and take all my coins to ANACS. I know they're half a step below NGC or PCGS - but they are 5 miles down the road from where I live. I save a boat load on shipping/insurance/packaging fees this way. ANACS do have cheaper costs, and no membership either. Good enough for my personal collection and to sell on Ebay too. Just my two cents.

 

Thanks for all the info everyone. This makes it a little better if this is the case. I suppose I could have misunderstood the pricing sheet they sent.

Designation review $10 5 working days "NGC certified coins you'd like reviewed for a particular designation or variety, such as FB, RB or *".

That must mean for re-submitting previously slabbed coins?? It doesn't seem very clear.

VarietyPlus Tier price+ $10 "Upon request, NGC examines coins for recognized varieties and certifies them with applicable designation. It looks like I would have to pay this.

Internet Imaged $3/coin, applies to all on invoice. If chosen, NGC provides digital imaging for coins submitted under any of its grading and service tiers at $3 per coin. So you're saying they automatically take their own images for their website these days? That's good to know and I would pass on this. I can take my own digital images.

 

Wow, I just got back 12 coins that were graded by ANACS, and the total for everything (shipping, insurance, slabbing, return postage, and insurance) was just short of $145. I am very happy with the grades and the way the slabs look. They have a special this month for silver dollars and lincoln cents. Look them up!

 

To the OP it typically does not add value to coin from a collectors stand point. From a selling standpoint it might very well mean more money. First it makes the typical buyer more comfortable with the coin and that means they will bid more. Even if you do not plan on ever selling it will make it easier for whoever you leave your coins to. The security alone is worth the cost to me. I have a bunch of coins I will get graded eventually - even if it is in details holders.

To me there is nothing more thrilling than getting a XF or AU coin at F or VF prices and then getting it graded to match or beat your grade. Then not only do you make up the grading costs, but you also make a few bucks when going to sell.

 

ain't that the truth!

just went through a friend's family collection - part of an inheritance that everyone was trying to get a piece of. One of the coins, an 1883 Liberty Nickel was a key part of the collection. They matched the coin to some pictures in a book, family graded it as MS-65 worth $500 and couldn't hear different. I found a bottle of coin cleaner next to the collection and began to worry. Sent it in to ANACS and it came back MS-60, CLEANED. Lots and lots of fighting for something we all could have prevented. I know that my family isn't going to have the foggiest clue about my collection so I started a spreadsheet and keep details on anything worth more than some certain dollar amount.