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PCGS Services for Low Value Coins

hbarbeehbarbee Posts: 193 ✭✭✭

I have always wondered why there are so many coins in the marketplace certified by PCGS (or other TPGs for that matter) with current retail values much less than the cost of the grading service. Many of these coins will never appreciate up to the grading cost. Can someone explain how/why this happens?

Comments

  • bigjpstbigjpst Posts: 3,137 ✭✭✭✭✭

    Sometimes the coins are part of a dealer bulk submission where the cost per coin for grading is cheaper than normal tiered grading cost.
    Sometimes they are submitted by people who have no idea of how to grade or value coins and submit thinking they have a coin worth more than they actually do.
    Sometimes people just like their collections to be consistent. I know a guy who sends virtually all his coins in for grading. He doesn’t buy garbage, but does buy lots of MS world coins that don’t justify the cost of grading.

  • jmlanzafjmlanzaf Posts: 35,085 ✭✭✭✭✭

    @hbarbee said:
    I have always wondered why there are so many coins in the marketplace certified by PCGS (or other TPGs for that matter) with current retail values much less than the cost of the grading service. Many of these coins will never appreciate up to the grading cost. Can someone explain how/why this happens?

    3 ways:

    1. People thought the coin they submitted was other than what it turned out to be.
    2. People (some on this forum) want their coins in PCGS plastic regardless of the cost.
    3. Bulk submitters sometimes pay $4 or $5 per coin and they are the source.
  • SoldiSoldi Posts: 2,177 ✭✭✭✭✭

    Perhaps it was 20 years ago.,but I remember as I understand it, this guy on Hilton Head who cracked coins and trimmed them out of mint issue stuff. The coins were then submitted is hopes of receiving an MS 70 grade etc. This was/is somewhat profitable for awhile. I'm pretty sure he passed away. RIP

    So perhaps you're seeing the hits and misses of high grade chasing.

  • jmlanzafjmlanzaf Posts: 35,085 ✭✭✭✭✭

    @bigjpst said:
    Sometimes the coins are part of a dealer bulk submission where the cost per coin for grading is cheaper than normal tiered grading cost.
    Sometimes they are submitted by people who have no idea of how to grade or value coins and submit thinking they have a coin worth more than they actually do.
    Sometimes people just like their collections to be consistent. I know a guy who sends virtually all his coins in for grading. He doesn’t buy garbage, but does buy lots of MS world coins that don’t justify the cost of grading.

    oops, I see that we think alike. LOL. Sorry, I was typing my response at the same time as you.

  • thefinnthefinn Posts: 2,656 ✭✭✭✭✭

    Ignorance.

    thefinn
  • 291fifth291fifth Posts: 24,432 ✭✭✭✭✭

    Some collectors have more money than sense.

    All glory is fleeting.
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    The above posts by @bigjpst and @jmlanzaf list the most common reasons. In addition, in the early days of TPG's many submissions were made along with fervent prayers to the coin deities.... many went unanswered. ;) Cheers, RickO

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