Coin Grading Services

Hey Guys,

I have an idea about starting a coin grading service that isn't like pcgs or anacs, ect. It would be based on expirenced coin dealers and graders, who would take an extensive test to make sure they were legit, and if they passed the would be certified as an official grader. They would not have to sit at a desk all day and grade coins, they would just go about their normal routine, and say at a coin club they might grade a couple coins.

Now onto fees. There would be a minimal fee for each coin, say $5.00 of $10.00, which is nothing compared to the big name grading services( I added all the expenses up for pcgs, and it would cost $200.00 for ONE coin!!)

I'm still working out the details, but if you have any ideas, questions, comments, or would like to help please post.

 

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Save yourself the time and don't.

BTW, you can get a coin graded at PCGS for less than $10.

 

Gee just pass a test and become an official grader.

So PCGS, NGC, ANACS, and ICG have been doing it all wrong all these years by expecting their graders to be seasoned and experienced?

 

There's a lot on line start only .99 cent PCGS & NGC slab and it graded MS 69. You will win it under TEN with FREE SHIPPING...

 

LOL. Thanks for the morning chuckle.
Lance.

 

I learned along time ago not to laugh at a business concept. I would suggest you continue to develop your business plan. Lots of folks laughed and threw Freddy out of their offices. You know the history of Fedex, don't you ?

 

The problem is that making more services, more work and more time cheaper is not profitable, you have to find a break-even point for the amount of business you have, but if you ever were to become successful, you would have to raise your prices.

 

rlm's cents, shipping is 15. you have to buy a membership which is 50 minimum. plus the grading fee which is 14 minimum. it just starts going up from there.

 

Minimum grading fee is something like $7 when you submit in bulk. How do you think all these coins go for less than $10 each on eBay. Most of the time sellers are making money at those prices. You miss half the shipping at coin shows and you don't send the coins in one at a time. Use dealers and you don't have to join PCGS. I paid $20 each for my PCGS and $18 for NGC - through dealers, not modern and still paying shipping both ways. Now, if you would like to pay more, go for it.

 

ANYBODY can grade coins folks.

Not EVERYBODY can back that grade with a market value (money) guarantee.

The OP's concept sound reasonable until it comes time to insure the accuracy of the grader with cash. In other words, whose responsible when that MS65 Morgan is actually an XF45 in everybody elses eyes?

My advice is: If you do not want to pay the current grading rates for PCGS or NGC then go to ANACS. If ANACS is still out of your league, then buy some Coin World slabs and a nice printer and grade 'em yourself.

 

And like outer businesses you can start the operation in your garage right.

 

Sorry for just throwin an idea out there.

 

Don't be sorry... but try to understand where these guys are coming from. There's a multitude of bottom tier TPG's out there... some are trying to be legitimate, some are just self slabbers looking to make a quick buck. Regardless, to even try to compete against the top tiers would be risky at best, and probably impossible. It's like online auction websites trying to compete against eBay; even if you are as good as, or even better than they are, you're doomed to failure from the start. So don't be insulted by some of the remarks even though they seem harsh. Most of the long time members here understand the coin business, and their advice is immeasurably valuable. That being said, I hope you stick around and learn from these guys. I know I am, and I've been collecting since the early 1950's.

 

Darned! Someone older that I, but not by much.

 

Wow.. you are old. I didn't realize there were so many grumpy old men on CT...

 

Wise Old Grumpy Men

 

I think that is supposed to be a complement. Thank you!

 

Who know's? You may have a better idea, but you won't be able to convince others you're legit when you spout off grading-related fees that are incorrect. I'm a current member with NGC and have been a member with PCGS in the past, and I've never paid the fees you stated.

By the way, you didn't say how long you have been grading coins. What is your area of expertise?

Chris

 

Most of all the seemingly negative comments here are not. These are the issues that must be addressed as you continue to develop a successful business and marketing plan. As you do, you will either find a competing and profitable " niche " , or not. Whatever business you want to begin, it's imperative you gracefully listen to and consider all the comments from those you pitch your business plan to. Gotta listen to the " NO " men as you develop that " niche " so you can effectively respond to those potential investors who grill you and your plan when you walk into that financial or business office to ask for their money to help you. Not to many years ago, many folks thought the concept of a Coin grading company was laughable and would never be accepted by dealers and collectors. Guess they were wrong.

 

Anybody else remember the story of where Apple computer started?
:devil: