The cost of grading coins

Hello kind folks,

My inherited collection mostly consists of wheat cents. Most are circulated coins but I have come across a few that appear About Uncirculated or Very Fine. I’m interested in getting these graded. I’m still new to this hobby so bare with me.

My question is what do you think the cost of getting 10 coins graded would be? In general, what factors go into your decision to grade a coin? What are the benefits? How long does it usually take? I am on a very tight budget and don’t have extra money to throw at this hobby, so any knowledge you can drop to help me navigate will be enormously appreciated.

Thank You!

 

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In truthfulness, I have never had a coin graded. But the value of the coin would determine whether to have it professionally graded. Check prices of coins online before doing anything.

 

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260ish for 10.

It depends why you want it graded. If it’s sentimental and you’re keeping forever that’s good enough.

If it’s financial then they need to have a shot at being nice enough to get te grade being worth it. Aka does the grading fee increase the value enough to cover it when it’s done. Some other coins there’s really no choice, they’re faked so much you basically have to grade them for them to be sellable.

 

Unless you have a particularly valuable one, there is no reason to waste any money on grading. The cheapo third tier TPGs are not worth using, and the top ones can be good, but by the time you pay for grading and postage and insurance to get the coins back and there, it can easily be 25 dollars a coin for your least expensive route. You are better off taking a couple hundred and buying lottery tix with it.

 

Yes, this, exactly. Hear me now and think about it later. There is entirely too much talk among new collectors about having coins graded, in general. Stop. Thinking. About. It.

When it's time, you'll know. It is almost NEVER when you're a rank beginner.

 

If you are on a tight budget I would just make sure they are in holders to protect them and enjoy them. No real reason to have them graded.

 

Unless it is a rare date, AU wheat cents are usually not worth getting certified.

 

and unless it is a identifiable prominent variety. Put them in inexpensive cardboard paper 2x2s for a few cents to protect them while you learn. Also find a camera or phone which will allow you to produce photos to attach with your post, Then we can help much more. Jim

 

This is fresh in my mind since I submitted coins recently and I'm about to submit another batch to NGC. Here's an example with your inputs.

NGC economy tier: ( $20 x 10 ) + $8 handling + $28 shipping (for max $1,000 declared insurance value) + original shipping to NGC = $236+

PCGS will cost more.

As you can see from the costs above, unless you have key dates, rare varieties, major mint errors, etc., I personally wouldn't especially if the coins are meant to be sold. You'd also have to check book and auction prices, as well as condition, to make sure that it's worth it. Speaking of varieties, NGC charges an additional $15 for each coin that you want a variety attributed.

 

Just for an illustration, I own perhaps between 50,000 and 70,000 coins I keep with intent. About several hundred have been graded. I estimate around 300-400. I have also REMOVED from slabs perhaps 50 coins in my life, not even counting those to which I did so with the intent of having them put in a different one. Now, if I, someone with the access, the means, and the knowledge to have coins graded, and more than 54 years experience, and I have less than 1% of my coins graded, what can we learn from this?

 

@Speeksoft , I agree with others that the particular coins you mentioned are not worth getting graded; however, it is fun to go through the process. If you can swing the costs, go for it. Nothing wrong with learning the grading process.

You may want to buy airtites for them and store them that way. Your choice. Your collection.

 

jpcienkus is a doll.

Thank you for the responses. They have been hugely insightful and give me all the more to consider.

Here’s something else I have, a bit off topic but I figure I’ll ask here rather than create a new thread:

When I’m on eBay cruising wheat pennies, these people are selling their semi key wheats for 99 cents. Sure their condition isn’t great but what do these people doing 99 cent transactions stand to gain? Is it really only 99 cents? I consider there are individuals with thousands of that same penny and the same amount of suckers out there to buy em, but I just don’t understand how selling your little penny for 99 cent or less is worth it unless you’re making sales MULTIPLE times a day. I’m confused.

Someone bless (or nuke) me with your coin trading economic insight.

 

The low-value ebay cent seller arena is a micro economy that will only drive you crazy if you attempt to understand it. There is not rationality to it. If you are looking for cheap wheat pennies, maybe try finding a brick and mortar coin dealer near you.

 

@Kasia @physics-fan3.14 @desertgem @mikediamond @Fred Weinberg @V. Kurt Bellman @Lehigh @paddyman98 @Clawcoins and others....
I have a beef with TPG that begins with and kinda of reeks of P___. What became of the adage that "you must grade to sell" or "grade you coins as a hedge against inflation" or even "have your coins graded to be sure they aren't counterfeit".....to "coins valued at under $10, even when graded by PC___the price listed is the value of non-graded (i.e., “raw”) coins. The reason is that P___ grading fees are more than the value of the coins, so these low value coins are seldom submitted to P____ for grading," Talk about inflation??? I didn't begin grading until 2000 so perhaps some of you seasoned exhibitors and so forth can supply me with historical data as to what the costs in the beginning of this grading fiasco/ploy were. I sold 2 PR69DCAMS 50c last night and will barely realize the cost of having just a PR69 RD1c graded today(which even at 69 will be listed the value of a 1984 S dryer coin!) Shouldn't this TPG be equal or more responsible as Tyco, Poezie Schemers or counterfitters have been to negatively affecting the US economy? Why wouldn't said TPG be required to hold license with the SEC and be treated much as Ma Bell, Ebay and Paypal as Criminals against the state by creating and running a monopoly. I have US 1963 D MS67 grade by the 3 main ATS's yet the I--has no guide. N-- values this grade at $7700 and P___ at $15500 for the same coin! Seems like if it smells like, looks like, tastes like then it must be....! Personally (if I have to) I will boycott the P smelling outfit single handily if that is what steps must be taken to stop the downward spiral of Collectors' coin values just to pad others pockets whom are already spilling over with excess IMHO of ill-gotten gains from a vast majority of regular and more experienced collectors of American fiduciary instruments. So we as Americans pay to have our coinage produced so that others with less character are allowed to profit from these (our) coins. Stop the rats before the entire city is over run by them. Put OUR money back in the hands of spenders, specimens in the hands of collectors and a noble hobby (a regular activity that is done for enjoyment) back in place for all of us to enjoy.,.PM me if you want or dare....lol Neal Massey owner and caregiver of Tammigee the 15 year old Mini Schnauzer...... never, never, never give up!

 

Tough to understand what you are trying to say.

 

Umm, I knew you weren't going to be a happy camper from the questions you were asking about your coins. MOST people are going to lose heavily on grading modern proof coins, even at PF69UC levels. They just are NOT coins worth having graded. You can only turn a buck these days if they're PF70UC. In PCGS publications (price guides) the prices ARE IN PCGS plastic, and you have CORRECTLY determined they are worth less than the grading fees. Many of us knew that and didn't have our common coins graded. As for the idea "you can't readily sell them if they're not graded", that's bullsnot. The problem is you've chosen coins you can't readily sell regardless, because EVERYBODY WHO WANTS THEM ALREADY HAS THEM.

This has been a gradually declining market for many years, as a background issue.

Also, do not listen to most bromides thrown around in this hobby. Many are false.

 

How much are they charging for shipping? That's usually where they are making their money.

 

I've been the ebay route and have had good buys and bad buys. I've gotten some NGC and PCGS graded coins on ebay for $20 to $40 for graded coins M63 to M65. I have/had a friend that sold me 3 gold coins. One was a 1894 Eagle, another 1904 Double Eagle, and my pride and joy, a 2009 Ultra High Relief $20 Gold coin. The seller went to a show and had the first two coins graded that cost me about $30 each. The first one was graded MS61 and the second got me because it was UNC Detail: Obverse scratches, which I still don't know what it would have been without the scratches because I have several coins with scratches and graded M76X. Anyway, the 3rd coin I really liked but it was PCGS graded M68 which doesn't get much mentioned. The original owner didn't like the grade so he sold it to me for $1,300. I have several other graded coins that I bought graded, but haven't gone through the process yet. Best of luck.

 

We can learn that some people own way too many coins to even make it worthwhile to get graded ?? LOL