NGC valuation on submission form

Discussion in 'Coin Chat' started by Ben88, Feb 26, 2020.

  1. Ben88

    Ben88 Active Member

    I have a likely dumb question. I’m preparing my first ever submission to NGC. I figured once graded the market would let me know what the coin is worth. But their submission form REQUIRES a declared value. I’m concerned about under or over valuing the coin.
    This would be hard enough for an American coin, but this is a 4th century Roman gold coin. I have NO idea of its value. Plus, it was likely jewelry at some point and has been plugged, now with incorrect lettering.
    How do collectors proceed in this case ?
    The valuation is even needed to correctly arrive at the shipping cost.
    Thanks, Ben
     
    Last edited: Feb 26, 2020
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  3. Islander80-83

    Islander80-83 Well-Known Member

    Do you have plans on wanting to know it's value?

    The submission forms ask the value for insurance purposes.
     
  4. Victor_Clark

    Victor_Clark standing on the shoulders of giants Dealer

    You can check prices realized for similar examples on sites like CoinArchives or look in a book like Roman Coins and Their Values V by Sear. For your Valentinian II, his value in VF is $350 and EF is $1,000.
     
    furryfrog02 likes this.
  5. Ben88

    Ben88 Active Member

    Thank you !

    Now, for some of the older good looking American coins that I’m ill prepared to correctly grade, I’ve noticed the difference between 60 and 65 can be quite substantial.
    For the future, if I know the coin might be between, say $500 and $3000 based on grade, what number should I use ? For insurance purposes, I assume the highest ? Of course that will also increase the NGC grading price as well as the shipping fee.
     
  6. Ben88

    Ben88 Active Member

    Yes, eventually we would like to know approximate values of everything in my dad’s collection, as we are entering everything in a spread sheet in order to properly value the collection for insurance purposes, and to know approximately what items are worth when time comes to sell.
     
    Islander80-83 likes this.
  7. calcol

    calcol Supporter! Supporter

    For raw coins, you can go down a notch for value to save on grading and return postage fees as long as it's not very obvious. Go down too much, the grading service will object and raise fees. Remember though, the value you put down is also the insured value. So , if the coins disappear at the grading service or during return, that's all you'll get.

    Cal
     
  8. green18

    green18 Sweet on Commemorative Coins Supporter

    This kind of thing has always been a sticking point for me. They already know the 'round about' value. What the devil are you asking me for? You guys are the so called professionals. Shouldn't you be ass' igning the value?
     
    calcol likes this.
  9. calcol

    calcol Supporter! Supporter

    I've often thought the same. But I think the main reason they want the customer to put down a value is to limit their liability if the coin goes missing or is damaged. If that happens, they have it in your own writing with your signature.

    That said, I've had TPG personnel at the submission tables at shows suggest I put down slightly lower values in order to qualify for a lower return shipping rate ... much appreciated!

    Cal
     
  10. ldhair

    ldhair Clean Supporter

    For most coins, I go with what I paid for the coin. If I know it's worth more, I just take a guess. It might be wise to pad the prices a bit to cover the grading fees. Not sure if the grading service is going to refund the fees.
     
  11. lordmarcovan

    lordmarcovan Eclectic & odd Moderator

    This.
     
    ldhair likes this.
  12. Stork

    Stork I deliver Supporter

    Agree, what I paid if I don't have some other idea. Basically I put what I would want it insured for on the return postage. Also, it's to determine grading tier at times. There have been some 'close' that I round down a bit so I can ship it with a submission.

    I did my first ancient submission recently and indeed, used my auction winning price. I've seen several 'slabbed' ones go much higher but honestly I am super clueless on the grading nuances of ancients, let alone they don't seem quite as afflicted with huge price swings due to minutiae level grading.

    And, I only submitted it as was a bit pricier than my usual fare and frankly I'm looking to the future for when my sons have to deal with my crap. My ancients are only about 10% slabbed if that, and only things above a certain threshold for the most part.
     
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