Grading my coins - need help
NMR
Posts: 47 ✭
I have a good deal of coins I need graded. Maybe 25-35 - several are the 1 oz gold coins. I used to always send them into NGC. It’s been a lot more painful the last time I sent them some 5 years ago because of all these crazy grading tiers based on what the coin is worth and then having to deal with the post office to try and get them sent. And when I have this little box saying I want to insure it for $20k or more I get the look like - ummm well it makes me very nervous to say the least. The last couple of times I went they didn’t have the tape to send them registered and one time they even said well we’ll just wrap it up later. Omg!!!
I just want this to be easy. I used to laugh when I seen posts saying some of dealers would submit your coins and have them graded. But it almost seems so much easier!! But really, how are you safe with that path either? Especially when your talking $20-30k in coins.
I’d prefer to be able to drop them off at some coin show or submission center in a big city and pick them back up. And not spend 4-5 hours filling out paperwork and going to the post office.
So, I need advice. I have memberships to neither pcgs to ngc any longer. The pcgs coins seem to command way higher premiums for the same coin. I personally like the NGC holders better but I mean it’s been probably 5 years since I’ve sent submissions in. Pcgs could be a much better investment in grading fees.
What do you guys recommend as the best and least painful path forward? The cost differences between the two grading services? The safety of submission with regard to using the mail? Does pcgs even do registered mail?
Thanks in advance for your help!!
Comments
There is little to no difference in the submission process for either NGC or PCGS. You need to fill out the paper work, whether you are mailing or submitting at a show.
You can do show turnarounds which is very expensive drop your coins off at the beginning of the show and pick them up graded at the end of the show. It needs to be a show where they are doing onsite grading.
Turnaround times are currently very long for regular services at both PCGS and NGC.
PCGS has it's own private insurance for shipping so Registered Return shipping may not be an option.
I don't know why you are spending money on 1 oz gold bullion coins to get them graded. That is a waste of money.
Well you are on the PCGS forum so you can expect many of the replies to be biased toward PCGS even if there is no factual basis for that bias, there is a lot of kool-aid here. It sounds like you have mostly gold eagles (you did not mention if they are proofs or unc's) so it is difficult to know if you will benefit in a financial way from having your coins graded and slabbed.
The paperwork is basically the same for either TPG, so that really does not make any real difference. Both firms offer show grading at some of the major shows, but that will be very spendy and I very much doubt it would be worth the cost as show grading is usually around $150 per coin. But another option is to just drop the coin off to the TPG at a large show for grading back at the home office, that way you avoid the issue of shipping to the TPG. If you check both firms websites you can see which shows both TPG's will be at and if they will be accepting submissions at that show to see if any shows are close to you.
For what your shipping I highly recommend FedEx and a private insurance company, the one I use is Ship-N-Insure. They have a discounted rate with FedEx and their insurance costs are significanly lower than the USPS rates with far less hassle if you were ever to need to file a claim.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Sorry they are proof 1oz coins - like the buffalo and those $100 coins the mint did last few years.
Definitely waiting for a major show in your area (or within a reasonable drive) is your best bet. Shipping thru the post office REGISTERED MAIL is your best option for such value IMO otherwise. The services will return ship based upon best method. PCGS returns based upon a stated value on the submission form. When you put together a submission you can call them for advice also.
Either service is slow as hell so ya got that to consider. A shipment today won't return until the New Year unless there's some miracle.
I agree that the white back round of NGC holders is more attractive on gold. I don't know that there's a big difference in value on coins such as those mentioned from either service.
Liberty or UHRs. It’s been awhile.
I'll give you some background on what I'm about to say. I've been a collector since the 60's. Selling since that period also.
I get very nervous when shipping hi value small packages. Possibly, submit coins and paperwork at a show and let PCGS assume risk of getting them back to you. I recently bought a few coins from a well trusted dealer. He informed me that 6 out of his last 12 FEDEX shipments had been tampered with at the Memphis hub. We decided that box within a box USPS flat rate with private insurance was our best bet and it worked. I guess his insurance allows him to use USPS and not require registered mail.
You might also want to have at least one set of eyes examine your coins to see if they are worth submitting. The dealer that I use rejects half of my stuff out of mercy for me. Submitting is not cheap and I find if I'm gambling on the reward then I pull back.
if you are not grading them as first strike, then may as well not get them graded.
they have to be first strike eligible before sending them in.
I would not grade them unless you are concerned about their authenticity or if you intend to sell them. Otherwise, it will cost a lot, take a lot time, and you’ll be disappointed with the results.... just sayin
Know the difference between bullion and collector coins. Certify the collector coins if you like, but I would leave the bullion coins alone.
Thanks everyone for your advice! I like the idea of them being encapsulated- no doubt about that! Easier to store and sell imho. I like the idea of flying to one of these shows and hand them in person and have them graded there but one of the members here said its way overpriced - ugh! Nervous about shipping them in mail- I’ve been fortunate in the past. But, I read posts on the forum over the years about them being insured with USPS and not being able to collect on the insurance.
To be clear, none of the coins are really bullion - they were all purchased from the mint- but some of them are MS not PF. I don’t care about first strike designation- seems so gimmicky- I know it hasn’t gone away but seriously- it personally seems silly to me. But, it does get a higher price. I’m trying not to buy any more coins- but I’m stuck with all these Morgan dollars and new American Eagle silver $1 now- got sucked in.
If they were purchased from the Mint, regardless of what they call them and the premium over spot you paid for them, they are basically bullion coins.
Two things: most dealers of any size handle coins like that all the time, so you shouldn't worry about theft, but make sure your dealer has a good reputation. The dealer will likely be submitting his own coins alongside yours, so they should be as safe as possible. Second, if you plan to ever ship registered in the future buy your own paper tape. Completely worth it for the reasons you mention.
This part jumped out at me.
You should be wrapping your own registered packages with the necessary paper tape. The PO has no role other than to process your package and take your money.
If the dollar amount bothers you then split up the shipments.
Elsewhere you suggested you'd rather fly to a show and submit in person rather than ship registered. But you also said you wanted PCGS over NGC due to higher resale value. These two approaches seem to contradict each other. In one case you are spending tons of money on travel and other expenses but in the other case you are chasing smaller amounts of increased returns.
I've only ever submitted one coin for grading/slabbing and I had to figure out the invoice (tiers, values, etc.) but other than that I got it done. When I have to do it again it should go more smoothly.
BTW, the cheapest way to "join" the other grading company might be to get an ANA membership which comes with submission privileges.
MY flights and hotels are generally free with all the travel I do.
I failed art - well almost. I’ve never wrapped my own registered mail until they ran out of tape. And the postal person still chided me for using too much or something. IDK, its been awhile. Trying to find that tape is also a struggle- it was sold out at a couple of places like Walgreens.
I’ll have to look into this ANA thing- thanks for the heads up! What I really need to do is stop buying coins tho. These modern ones don’t reap any big profits they way they used to it seems and the longer you hold on to them, many depreciate. You really have to be on the forefront of selling/grading and using the first strike or ER designations too. I just don’t have the time anymore.
Seems like the big game for these new mint releases are quick flips... As you say, they may or may not hold their value over the long haul.