Sorry gang but I searched old thread and couldn't find anything, I'm sure its been talked about before. I have having a hard time determining the value of a coin for insurance reasons. If the coin gets a ms66 it will be worth something if it gets a 65 the value will be much less. So how do you determine the value the coins that you submit? My guess is that you pay insurance for what you paid for the coins and than do you get a chance to change that once you know your grades. Have patience this is my first time.
Personally I always go with the value for the higher grade. Remember, it will be insured for the value you state. It may cost you a few extra bucks (insurance and grading category) but you'll be REALLY irritated if it goes missing.
I've always insured for the higher anticipated grade. However, if you are submitting multiples of the same coin, you might have to do a little math to arrive at your total value. For example, I had one submission of 54 - 2007P Sacagawea Dollars. I thought that 24 might grade MS68 and the rest would grade MS67. So, I computed the value based on those two groups of figures. You should also be aware that the TPG may not accept your insured value if you are being overly optimistic. Suppose you were to submit 20 - 2000 P&D Mint Sets and you based the insurance value on the premise that all 400 of the coins graded MS69. You just might receive a call from the TPG regarding your estimate. Chris
Tater, I'm not sure whether they check before or after the coins are graded, but they do check it before shipping them back to you. It's a CYA thing. Suppose someone submits 5 - 1880CC Morgan dollars and indicates a desired grade of MS64. For value, they write in $2,000 when they are really worth more like $4,000. The difference in the cost of insurance is immaterial since it is less than $3.00, but what would happen if they got lost in the return mail? Rather than take that chance, NGC would call you about changing the estimated value for insurance purposes. Chris
