I know there are probably other threads that relate to this topic. I just want to know how (or why) people sell graded coins for under $10 if its a minimum of 18 to get it graded. I am new to the world of coin collecting. I have a really good start but no graded coins (just bought 9 pr69 silver dimes on eBay but that haven't arrived yet). I have quite a few really nice conditioned pre 1900 silver dollars but I can't see myself wasting $30 of the value by having it graded. How do people get it for so cheap? Can anyone explain this to me please?
I actually have been wondering the same thing for a while espically when i sometimes pick up slabbed coin from pcgc and ngc for only a few dollars !!
There are many different reasons for the existence of slabbed coins not worth the cost of submission, and much depends on the coin and type in question. Bulk submissions, people submitting coins who do/did not have the necessary knowledge to do so, and people playing the top pop game are just a few reasons for what you are seeing.
Some people get free submissions if they submit some number of coins, so they might as well send in a few extra in hopes that they grade high enough to sell for a little profit.
Using the search function will help you find a number of threads on your question. The answers won't change. I am assembling a two cent grade set. A grade set is one coin of each grade available. In this case the highest grade for a NGC Brown is 66. The lowest is PO-01. A total of 26 coins. Long term this collection will turn in to an exhibit at my state numismatic society convention. This will be a study/discussion of how bronze wears from circulation and how to grade the two cent piece accurately. So, I will need coins graded PO-01 and FA-02 graded by NGC in addition to the MS examples and that is why this collector sometimes submits low grade/cost coins to a TPG.
Ok thanks for the quit responses guys. Also thank you for not just telling me to look around the site because the info is already here. So basically I should just protect the coins for now until I get more into it and get enough quality coins to make a bulk submission? Or not even worry about getting them graded? As veteran collectors what makes you decide to buy graded or ungraded? Anything in particular?
Until you truly know what you're doing, I believe it best that you not even consider submissions, unless you find a trusted and knowledgeable someone (dealer or collector) willing to screen what you already have. The key here is someone who actually knows what they're doing, and not just claims to, of which they are many. It is also my opinion that those who are new to this should not jump straight in and start buying coins. Take your time, buy books, and learn first. In the long run you will almost certainly be glad that you did.
At least with moderns in a lot of cases you'll get dealers who will submit a large number of coins for grading, hoping for a few high grades which is where they cover their expenses for grading and make their main profit. The cost for the bulk submissions as stated above is much lower, so they can "lose" money on those others but still profit. Oh, and I do echo the sentiments above, please take in as much information as you can before just jumping in.
