does it cost money to have coins graded?

i am looking to have my good looking coins graded but i don't know if it costs money?


thanks,
mizozuman2

 

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Yes, it does! It depends on what grading service you choose because they do vary in fees, but the important thing yet to be determined is whether the coins you have are worth the expense of grading them. So it boils down to what these coins are worth, and just as important, what resource did you use to determine their value.

Chris

 

"does it cost money to have coins graded?"

By whom? If you mean by a professional grading company like PCGS or NGC, the answer is obvious. They are businesses.

Your local dealer may give you his opinion on the grades for some of your coins, for free as a courtesy. If you do this, be nice and buy something, even if it's inexpensive.

Most dealers at coin shows will grade some coins for you. Of course they may anticipate your selling them and grades could be conservative.

And then there's CoinTalk! We rarely charge for our opinions. But grading by pictures has its downsides.
Lance.

 

I was just going to mention that with a nice pic the folks here would be more than supportive and happy in letting you know what is going on. that is whether or not it would be worthwhile to send in to a TPG
walter

 

alright, would you say using an 8.2 megapixel camera for online?

 

that should be fine, just make sure to use macro

 

No, it is completely free. World class graders donate their time and expertise, and the grading company donates their materials so you can have your good looking coins graded free of charge.

 

Oh my, glad you said it cause you know everyone was thinking the same thing!

 

To the OP - Out of curiosity - What makes you think this would be free?

 

Yes, it is free if you learn how to grade yourself. Otherwise, it costs quite a bit of money for a TPG to do it. TC

 

The more you spend on your good coins will be variable to how much it cost you to grade them. If you buy good coins that aren't very fine coins it will mean you spent good money for bad money.

 

Well, I can see why he might think grading would be free as I've seen a million posts here that claim graded coins don't cost anything more than raw coins, which is an outright, bold-faced lie if ever I saw one. I can't think of a single seller that would eat the $30 expense of grading a coin when it came time to sell. That expense is therefor passed along down the line, no matter how many times it changes hands. So maybe give the OP a break and understand where he might have come up with the idea before you grill him on information he got from bad info here.
Guy

 

Because no seller ever loses money on a coin, and every buyer always assigns a $30 premium to a coin in a slab?

 

Sometimes Third Party Grading (TPGs) companies will offer a deal for becoming a member, such as NGC will grade 5 coins "free" with a higher-level paid membership...but either way you've paid $$. It all boils down to it's only a deal if you will continue to use the services that the paid membership offers you. And as Chris said, be sure the coin(s) are worth having graded by using reputable sources. Websites like NGC will allow you to join for free, and you can check current values for coins and conditions, but without a basic understanding of what to look for (this is where a Red Book comes in handy-just don't take the values as gospel) you won't be able to judge the condition to look up the value.

My humble advice is, get a RedBook as well as other coin publications, including periodicals and do your homework. RESEARCH, RESEARCH, and then RESEARCH SOME MORE...once you feel comfortable with the basics of what to look for on one denomination, learn key dates, varieties, etc...and then take another look at the points to look at for wear, doubling, etc and practice grading them yourself against graded or attributed coins on this site and see if you are getting a correct estimate against a known value. The more you learn to self-grade, the more you will see that coins that you once considered sending for grading are not worth the extra expense and you may begin seeking better quality coins (if you prefer to collect graded coins) and you will be less likely to spend too much for a coin that has been slabbed that's up for grabs on ebay.

Good luck collecting, and don't worry about grading just yet-just have fun

 

I'm still trying to figure out how to get the free postage everyone is talking about.

 

It does cost money, and its mostly a huge rip off unless you need them graded for authenticity purposes or for selling them when there is a big jump in price between grades.

 

Come on, guys, give the kid a break! He's young and trying to learn. Why are you guys funning with him (or not!) when we hear so often from some of you and others, "There are no dumb questions, just dumb answers."

Chris

 

hey people trashed me when i was new here too, so i guess no surprise

 

I wouldn't go so far to say "most dealers". It costs them money to set up at shows, and they want to devote as much time to selling as possible. Besides, if they thought you were considering selling the coins, they wouldn't even discuss how they would grade them unless you were haggling over the price. There are far fewer dealers at shows than you think who will take the time to help a YN.

Chris

 

The Richmond Coin show earlier this year and the VA Numismatic Association one in Fredericksburg a few weeks back had YN programs associated with them. Displays, a trivia find the answer game, coin collecting merit badge session for scouts. What was great about the Fredericksberg show was that dealers associated with the trivia/treasure hunt game had 8.5x11's with a Jolly Roger on it so the kids knew who to talk to.

Then again, these events were done by coin clubs promoting the hobby. (And I was so glad to NOT see the people pushing copper at the Fredericksberg show.)

Maybe with the PM market blowing off some steam the coin dealers will go back to being coin dealers. Hey, we can only hope, right?


Finally, "there are no dumb questions. But there are sure a lot of inquisitive idiots." :goofer: