Understanding NGC submissions

Discussion in 'Coin Chat' started by midtncoin, May 14, 2018.

  1. midtncoin

    midtncoin Well-Known Member

    I'm thinking about submitting my first coin to be slabbed and I'm trying to wade through all the options but I'm getting confused.

    First, as an ANA member, I understand I get direct submission to NGC for free. But this just means I get a free account, right? I still have to pay for the actual grading service.

    Now on to the coin...., I've got a mid-90's Jefferson nickel that I am fairly confident is improperly annealed. It probably grades EF but, honestly, I could care less about the grade. I just want the variety/error verified. Looking at the NGC website, it looks like a modern submission for grading is $15 and then I would have to add another $15 for variety/error certification for a total of $30. But since I don't care about the grade, could I just have the variety/error verified for only $15?


    Thanks for the advice!
     
    Last edited: May 14, 2018
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  3. TheFinn

    TheFinn Well-Known Member

    ANACS would be much cheaper, since NGC also charges for each submission sheet - I think it is $8. I would go to www.anacs.com to find out about pricing. They are much easier to work with and less expensive. And they are just as good at authentication and variety attribution as the other guys.
     
  4. CoinBlazer

    CoinBlazer Aspire to Inspire

    ANA will definitly help. I feel there is a biased in favor of PCGS that all the elitists and big shots use PCGS, which is true but doesnt mean you have to also
     
  5. Sullysullinburg

    Sullysullinburg Well-Known Member

    Honestly, if you just want it confirm the error, post it here or take it to a show and ask some dealers.
     
    Dynoking likes this.
  6. Casman

    Casman Member

    Your best bet is to call with questions. You can't just have it variety/error attributed.
     
    Last edited: May 14, 2018
  7. midtncoin

    midtncoin Well-Known Member

    Thanks Finn and CB. I appreciate all advice as this is my first time doing this.

    All I ask is that this doesn't devolve into an argument about the different services. I'm simply looking for advice on the financial and understanding the process. :)
     
    CoinBlazer likes this.
  8. midtncoin

    midtncoin Well-Known Member

    I've had it looked at by a few people and the answers vary from "yes" to "not sure" to "possibly" so I'm hoping for an official answer.
     
  9. CoinBlazer

    CoinBlazer Aspire to Inspire

    What do you plan to do with this coin?
     
  10. midtncoin

    midtncoin Well-Known Member

    Just keep it in my collection. The verification is only for curiosity sake.
     
  11. CoinBlazer

    CoinBlazer Aspire to Inspire

    It may not be worth curiosity sake
     
  12. jtlee321

    jtlee321 Well-Known Member Supporter

    If you are simply wanting verification, then take a photo of it and maybe @Fred Weinberg could see it and verify it for you. If it's going into your personal collection, then don't send it to NGC or ANACS or PCGS. There are a lot of experts on here who are very generous with their expertise. A simple please and thank you can go a long way.
     
  13. baseball21

    baseball21 Well-Known Member

    You have to have it graded as well. It’ll be the modern tier plus the error part. If you didn’t want to use NGC use ICG. PCGS is just cost prohibitive for low value errors
     
  14. midtncoin

    midtncoin Well-Known Member

    Thanks guys. I'll call around to the "big 3" tomorrow and get some ideas of actual prices. If its just a few bucks, I'll probably pull the trigger and send it in. If it is a true error, it'd be nice to have it in a slab even if its not valuable. But if it's gonna be $20 or $30 (or more), it's probably not worth it.
     
  15. ken454

    ken454 Well-Known Member

    as stated, if you just want verification, you can send it to one of the error experts and for around 5 bucks get it verified, they'll return the coin with a letter if its authentic, then if you decide to have it graded you send a copy of the letter with it to tpg....
     
    Gallienus likes this.
  16. Conder101

    Conder101 Numismatist

    Correct

    No, you have to pay for grading and verification. And don't forget about the expense of shipping and insurance both ways plus their fee for each submission form. that is why it is much more cost efficient to submit multiple coins at one time. The form fee and the shipping and insurance gets divided among many coins instead of all being heaped upon one coin.
     
  17. calcol

    calcol Supporter! Supporter

    Others have described the costs of submission. It's probably not cost-effective for a single inexpensive coin. You can save on postage to NGC if you submit at a show where they have a booth. Although ANACS and ICG maybe cheaper for submission, in most cases, the extra cost of NGC or PCGS will probably be recouped when you sell. A particular coin will bring more if graded by the latter two.

    Submission privileges for NGC are not automatic just because you have an ANA membership. You have to submit an application to NGC. Upon approval, they'll assign you a NGC member number. Then you can submit coins.

    Link for application: https://www.ngccoin.com/resources/pdf/ana-application.pdf?cb=17-10-17

    Cal
     
  18. Jaelus

    Jaelus Hungarian Collector Supporter

    You can't submit a coin without a grading tier unless it's already in an NGC slab (in which case you can add a variety etc. and it just keeps the existing grade without paying for grading again).

    Total costs for you would be:
    $8 "handling fee" per submission
    $16 Modern tier grading
    $15 Mint Error atribution
    $23 Shipping & Insurance

    So you're looking at $62 total, plus whatever it costs you to ship the coin to NGC (potentially nothing if you submit in person at a show).
     
  19. midtncoin

    midtncoin Well-Known Member

    Thanks for all the advice everyone. I called ANACS and their prices are similar so its probably not going to be worth it. I'll just leave it in its 2x2 and, if I ever make it to a show where one of the TPGs has a booth, I'll have them do it onsite.
     
  20. calcol

    calcol Supporter! Supporter

    You can submit at a show, but if you want the grading to be complete before the show is over, they will charge considerably more. If you submit onsite, but let them take the coin back with them, take their time, and mail it back, you'll save the cost of shipping it to them.

    Cal
     
    Jaelus likes this.
  21. Conder101

    Conder101 Numismatist

    Yes, if you have it graded on site and returned before the end of the show, you can figure a minimum of $125.
     
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