Value/Cost of getting coins graded

I have never looked into getting coins graded and obviously I have no idea of how to grade. I recently picked up some AMAZING mirrored proof Franklin halves. I have never seen coins as pretty as these. I am wondering about what it would cost to have them graded and if it would be worth it? Any thoughts?

Thanks,

PS I just went to a coin show and some of the nice Franklins listed for a fairly high price so it made me wonder.

Erin

 

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First, I'd take some pics of them and post them here and ask the experts here for input on grade. If the consensus is that they really are that high of a grade with original surfaces, then you might want to go ahead and submit them. I offer this caution because everyone goes through a learning curve when first submitting to third party graders - until people get real feedback with how they view their coins and what the TPG's put on the slabs, people rarely get back what they expect.

 

At PCGS, the OP can get Proof Franklins graded for about $14 each + syhipping fee's to PCGS and from PCGS (base rate of $16.95). At the very minimum, 5 proof Franklins from 1956 - 1963 could get graded for $18.34 each if they were mailed to PCGS in a Flat Rate Priority Mail package. NGC may be a little cheaper but since I don;t submit to NGC, I don;t know the exact amounts.

IMO, unless the coin(s) you are having graded have a value of 10x the grading fee's OR unless you are building a registry set, you're wasting your money.

In other words, if you are inexperienced with Franklin Proofs, you'd best seek a professionals advice on whether or not they would be worth your time and money to submit them. My opinion is that if you purchased these at a coin show and the dealer had slabbed Franklin Proofs for sale, then they are not worth the value of having them graded. Or at least the dealer did not think so.

Determining a relative grade on modern coins can be difficult and if new collectors are really interested in slabbed coins, then they should purchase slabbed coins and negotiate the price where possible. There is nothing worse than spending $20 for a Franklin Proof plus $18+ to get it graded and then selling it for $20 or $25.

 

My feelings exactly. I'll go a step further. You want 'em slabbed? Buy 'em slabbed.

 

what about the $8 'handling' fee?

 

There is some good advice in the previous replies. I would like to add something to that. The advice I offer any new collector, is to learn about the series you are interested in , preferably before you make purchases. That last part is where some folks get into trouble, because they are buying high dollar coins and not really knowing why the coins are carrying those premiums, if they are justified. It's okay to make that mistake once. Don't make that a behavioral pattern. You will quickly loose your hard earned money, potentially on coins that those in the know, will pass on , even at any price. Enjoy the hobby and learn, we are all learners regardless of how long one has been collecting coins. It's supposed to be an enjoyable hobby. There is some terrific literature out there about every U.S. Mint series. Reading is fundamental .

 

Dang! I keep forgetting about this on PCGS Coins but am always reminded when I total it up!

 

I just spent about $60 to get a coin authenticated, forwarded to ANACS, verified, graded, slabbed and returned. Shipping, insurance and all the fees add up quickly. Green18 has it right for the most part. But as a "roll searcher", I may find something that warrants the expense. But for the high grades, the cost is prohibitive. I even see slabbed items on eBay that don't sell for enough to cover just the grading fees.

So, "if you want them slabbed, buy them slabbed" was the best advice given. IMHO

 

Sage advice!

If you want your coins slabbed, you'd probably be better off selling your raw ones and then buying slabbed examples to replace them. Fees and postage add up QUICK.

 

Why do so many people who buy "proof" coins from the US Mint have them graded?

Almost all the proof gold first spouse coins, and prof ASE I see are slabbed. I understood that Proof coins from the Mint are usually graded 69/70. Does grading add enough value to justify the cost. I see folks on eBay asking hugh prices for their slabbed coins but no bids.

Does this add any additional value when insuring a collection or is it just because some people want to collect proof grade 70?

Thanks for your comments

 

I wonder the same thing.... esp. the state quarters (which I bought when I started) Each state S series for about $12 each... Then an old timer asked me what I would have spent on each quarter UN-slabbed and it made me really think hard...

 

Several reasons to have them graded (1) Registry sets (2) get some 70's to make a profit and (3) bulk submissions save money. I think the like to break even with 69's and make money on the 70's. Then those that do no meet the grade on they do not have to pay fee's on them. Just my humble opinion.

 

mark_h this process must make $$$ or you wouldn't see so many do it.... I just wonder how much... and after seeing ebays final value fees it must be harder and harder... I would LOVE to send some of my coins in just to see what PCGS says about 'em... I'd love that!

 

So if you send in a coin to be graded and its not gradable they dont charge you for grading? If so thats nice! Wont know till you send them in but if you dont have to pay for the "bad" ones thats an even better reason to send them in!
thanks for the info guys!

 

If you're going to be selling them at the same time, you might want to consider greatcollections.com. They will send them out to be graded by PCGS, NGC or ANACS at about 1/2 the price and you don't have to pay the grading fee until after they've sold your item. I haven't personally used them yet, but after doing some research, they look to be a better option than Ebay on fees, final selling price, etc.

 

No. Your interpretation is not correct. Any coin sent to PCGS or NGC will result in a charge to the submitter for grading. However, in some instances a submitter may use the bulk submission option where the owner sends in a large number of identical or nearly identical coins and requests a minimum grade. In example, someone sends in 500 ASEs and requests that any coin grading less than MS69 should not be encapsulated. PCGS or NGC will grade each coin and return the MS68 and lower graded coins raw, but will charge a reduced rate for the service on these coins. The rate depends upon how many coins actually make the minimum grade. It is not inexpensive.

 

Thanks! Ill check that out-

 

If you are a member of the PCGS Collector's Club, they are offering a bulk coin submission offer until 12/31, Must be over 200 coins ( up to 10 different dates) @ $10 per coin......with other requirements/conditions.

 

Lee you also forgot the membership fee for a new submitter.

And for those wondering why to get gold coins certified straight from the mint it is so you can make green. I have never sold a gold coin that did not pay it's way with a premium over the cost of grading. And I recently sold a MS70 Gold Commemorative that doubled in value in less than three months.

BTW for the new collector the advice to buy them already graded is valid especially for proof coins. They are almost impossible to grade from images even when imaged by a professional. And hairlines that do not show in images can make great differences in the final grade and value.

 

NGC has a special till "at least the end of the year" with no foreseeable end for now...........
you can send in as many of the ATB 5 oz coins you want for $20 each-
Ive got 10 of em and i think for the longrun its a good thing to do-
any thoughts?