Getting a coin graded at a coin show (FUN)?

Yea it's a year. Using the vouchers on the Secure service at the regular level gives them the most bang for their buck.

 

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Thanks.

 

Membership is for 1 year. The 8 submissions are for any level up to regular+secure.

Edit: Didn't see the previous correct reply. I use my 8 for world coins that require secure service.

 

Does a dealer get a cheaper price to grade coins?

 

Only with bulk submissions, and these prices vary from dealer to dealer, I think.

 

In other words a Platinum Membership allows bulk submissions with a 10% discount. I truly believe that these big dealers get a much larger discount. Figure the cost of grading plus the cost of the label as all Austrailian or Canadian coins just to name a few carry an additional charge of $15. just for their label. And they are sold at unbelievably low prices on places like ebay! How can they sell them so cheap unless they pay like $10-$15. per coin.

 

Unless its changed, when using your "free vouchers" you need to use all at the same time, as in you cannot use free vouchers on 2 separate submissions

 

A PCGS bulk submission requires at least 100 coins, of no more than 5 total different dates or types (5 total PCGS identification numbers). If you specify a grade, you get the ones that meet or exceed the grade for $12 each, and the ones that don't meet it get returned without a slab and without a charge.

Other sorts of "bulk" agreements exist, especially in the bullion categories, where dealers submit thousands and make their money off the 70's.

 

Thank you DAVE and HAPPY NEW YEAR

 

They make their money on the 70s and just take what they can get for the 69s. Plus like Messy mentioned some do enough volume that they can negotiate better than standard rates

 

Yes, I see now how they do it. Initially its a big layout of cash to buy the wholesale bullion from the mints (the real discount is only given for large purchases) and then to send them in risk free for submission to the grading co. and of course in large quantity, and then receiving back in slabs the ones that made your designated grade and the rest toll free ungraded. So you can send in a 1000 pandas and tell them I only want the 70 grade and if only 500 make the grade you pay $600. plus the shipping and the other 500. you can sell as raw coins. Wow I have learned a lot from you guys, I always wondered how these sellers were making any money. The 70 grade is the ultimate grade and makes the coin that much more valuable and to not have to waste your money on a lower grade slab is awesome.

 

PCGS will not allow 70 as a "minimum grade." Probably why there are so many 69's out there.

 

Dave is correct, and this is what essentially drives the 69s slabbed to maybe $5 or $10 so above the price raw (almost breakeven).

If you get a decent yield of 70s, selling them at $25 or $50 or $75 above raw covers the small loss from the 69s and makes a profit.

If you get a poor yield of 70s you lose money.

If you get a great yield you make lots more.

It's the kind of model a 1st year business student can create. With some provisions for cost of capital, precious metal price fluctuation, shipping, etc.

It obviously works given the flood we see.

About now, the TPGs and big dealers are finalizing the setting up of the warehouses for the junior graders to grade the 1st 100s and 1000s of the monster boxes of ASEs when they are released in a couple weeks.

 

Yeah, this is a poor time to submit.

 

Ok so you can tell them that 69 is this minimum grade and that's acceptable by them. So in reality it is a gamble you hope you roll all 70's.

 

Will this affect getting accurate grades this time of year?

 

The TPG answer is "All of our grades are 100% accurate".

With the junior staff pulled off, you have a slightly more experienced staff doing the rest of the work.

Does it matter? Never seen anything more than useless extrapolation from one example.

 

Ok, its not $12., maybe PCGS charges $12. Thanks for the info.

 

Yes.