PCGS pricing question
Amosrf1
Posts: 1 ✭
in Q & A Forum
If I submit a coin that I think is worth less than $300 along with the $22 grading fee, but it grades out to be worth $400, what happens? Do they just ask for another $16 or send it back for resubmission?
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Comments
Never had it happen to me personally, so I am NOT speaking from experience.
That said, section #6 of the T&C on the back of the submission form says:
"If PCGS determines, in its sole discretion and at any point in the process, that the submitted Declared Value has been understated relative to the market value of the item, or the submission form provided by the customer has been incorrectly or incompletely filled out, PCGS reserves the right to adjust the PCGS Grading Fees (including any Shipping or Handling fees) accordingly. Customer acknowledges and agrees that PCGS may adjust/increase any fees as necessary without explicit customer notification."
They could possibly tack on an extra fee to bring it up to the next grading tier, I have had it happen to me.
As long as the estimate was good faith, they won't say anything. I've had several raw coins break the regular submission tier value and nothing was ever said to me.
How much did you go over?
I had a rare error (submitted ATS) that I had to ballpark. Before it was authenticated for what it really was, I naturally chose to value it for the worst case scenario.
It came in as the best case scenario, but the invoice wasn't increased.
The language in the terms and conditions is to prevent obvious under-staters trying to avoid higher fees.
The $ value used on the form will be what determines the amount of shipping insurance.
Honestly I don't remember, it has happened a few times. I know one time it was a few hundred over, but the other times I don't think it was that much.
Something else came to mind. I believe it is only insured while in their custody and during return shipment for your stated value, so that is another incentive for submitters to not lowball the value.