Can anyone here afford submitting to NGC?

I don't know....I've been submitting coins to NGC for years through my coin shop and always pay the same: $6 for slower service, $10 for speedy service. Because the shop submits hundreds of coins at a time, several times a week, they get substantial discounts. I imagine any larger shop has the same benefits, so why not try there?
Guy~

 

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Sometimes I can't afford not to slab a coin. For instance I recently purchased a complete set of raw Lincoln cents. I study this series and collect it exclusively and feel confident in what each coin grades based on wear and color. I take expert photos and describe each coin honestly when listed on the "bay" and I still sent off the SVDB, 22 Plain, 14 D and the 55 DD as the difference in grade and even authenticity are huge differences in the marketplace. The other coins I can handle and most collectors feel the same. I am also suspicius of un-graded coins in the marketplace as being bodybag victims, but I usually see that in dealers stock and I'm still amazed at how many raw coins are still out there in personal collections owned by people that don't even know there are TPG's in existance.

 

My local shop does not do that - or at least does not have that type of volume. They will submit them for you, but basically you pay the same costs. I am curious - what types of coins? Does this include bust coinage?

 

mark_h ---> Someone walks into your shop with 5 coins they want slabbed by NGC. what do you charge that person for submitting on their behalf?

 

They charge me the same for all coinage. Theres no markup for them, just the cost they have to recover. Of course, they only do this for what they consider valued customers. Guess I've spent enough there to gain that status, I don't know.
Guy~

 

NGC doesn't care about your concerns. Like too many other things in life, pay or don't play. Also NGC is too busy grading modern coins with astrononical numbers like 69 & 70 so some dufus can buy these pieces of metal in plastic.

 

The local shop I use - not my shop. I like collecting and not sure I could sell some of the beauties they get in. The last time I asked about this it was basically they would help us complete the forms and then we pay all the costs.

 

I am sorry, but you can find more than one thread here where the experience with NGC has been exactly the opposite of what you are inferring. Here is at least one http://www.cointalk.com/t44616/ and there are more. Nearly every such thread has stated that when working with NGC, they have gone out of their way to make it pleasant.

 

Paying a fee to have the the privilege to pay for having your coins graded is "a bs urd".
Join the ANA and you get the privilege for free along with many other benefits!

 

LOL - Why join either on? My last two orders to NGC I did not join either one and they were direct to NGC.

 

For me, the ANA is a good deal. Its got to be a decent deal to get my money. :smile
With the ANA I enjoy getting the monthly magazine - The Numismatist.
I have access via US mail to the library which I use.
Summer seminar is a great summer vacation if you have the extra money.
I get to submit to NGC at the FUN show.
I get my money's worth.

 

Summer Seminar....

Never get to go but boy do I want to.
That would be the trip.

 

ON NO. More and more slabs for me to crack open.

 

I think the ANA is a good deal also and much much more than just for submitting coins. One of these days I will get around to joining.

 

Vess - this has ended up being a GREAT thread. I learned a lot.

Ya think you know what's up and then read a bunch of other people's experiences and find out you don't know jack.

I'm speaking for myself. Another ++ mark for CT!!

 

Good point Mark H and as for attribution I know we don't attribute before buying at work. At times we don't attribute when selling either. It does take more time and that is money hence a higher fee from a TPG.

Now as for my 2x2s being cheap remark it's true but as many others have pointed out it can pay to get the better stuff slabbed.

I own very few slabs but will slab more precisely for the reason that it is easier to sell. If something happens to me I know my wife will get better money from slabbed coins.

Now Vess unless I missed it somewhere - do you have any dealers close by that send coins in for grading? We do a lot of business with NGC because they ARE much easier to deal with than PCGS. They do run specials and we do send coins in for customers. We charge them $2 extra but we're a registered NGC dealer so in the long run it can be cheaper to pay us an extra $2.

 

Having second thoughts now...

Thanks for all the commentary. I have mainly stuck to buying stuff that was slabbed already or straight from the mint. I have only a few from shows that I 'was' interested in sending. But I don't think I can do it now.

I took four of them out to look at them last night and they just aren't as good as what I thought they were in my mind. Under closer inspection, the nickel was nowhere near FS. Has a really nice golden tone but probably not worth grading. One was a 1926 Peace dollar that I think would max out at MS-64. I really would like to know on that one but I don't think it could get anymore than that.

I have a feeling the CBH may not even grade as there's very dark areas inside the numbers while the rest of the coin is light. I thought these were much better than they are.

I may just be down to sending a few in for re-holder now. I don't think there's a minimum on that. I do have a dealer I could go to but it would be more hassle than doing it myself. They are not nearby and I doubt there would be a discount.

After all my complaining here, I really can't come up with 5 loose ones worth sending in. Maybe just the Peace dollar and a Lincoln right now that I'm sure would grade.

 

I agree! Better off using the $208 to buy coins instead of supporting people who ruined the Hobby because of the $$$.If a coin is a proof or a MS65 how does a Slab add value?

 

Interesting article I stumbled upon on the Internet.
PCGS, NGC Coin Grading Scam Alert Longtime CMI clients know the contempt with which we hold telemarketers' promotions of overpriced numismatic and collectible coins. Our disdain stems from the unbelievable horror stories we have been told by persons who have been conned. It is absolute that the more helpless the victims, the more money the con artists will try to extract. No one who can write a check is safe.......

EDITED TO REMOVE COPYRIGHTED INFO - Please remember copyright laws, and follow the rules.

Read more: http://www.cmi-gold-silver.com/PCGS-NGC-coins-grading-services.html#ixzz0fwIRu8mI
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Bubags: I understand your frustration with them grading the modern bullion. I agree that they would have been better off not wading into that territory and wasting their time with them. I'm sure they are making a lot of money off of the extra work though.

I do not share the article's view on 69 to 70s being a scam. Yes, most everything that comes out untouched by human hands should be a 69 or 70 unless something happened to it along the way. But I think there is a definite difference between 69 and 70 and anybody who takes the time to really analyze them under a loupe will notice it. If someone's eyes are bad or they don't take the time, they won't see the difference. Every 70 I've seen has been an absolute premium coin with no flaws that I could find. 69's always have some imperfection that can most times, easily be found.

Then again, back to the whole premise of that issue...pricing. I believe the 70s are worth a premium but it's up to each individual to decide what that premium is worth to them. It's not worth a lot to me. I have paid for them when the premium was relatively small for the jump up from a 69. But I don't believe it is worth hundreds or thousands for the jump for any gold or plain bullion coin, or anything modern for that matter. I think many people share this view.

Just want to add that I think anything that makes the 70 grade amounts more to pure luck when it was made and handled (managing to avoid hair lines, rim dings, and imperfections) than what early die states have to do with it. Maybe there is some truth to the earlier die states but I don't think they get used for very long, to make very much anyway.