Question About Declared Value, when submitting coins for grading

Walkerguy21D

Thanks in advance for advice - the customer service phone queue earlier had 63 people and a 90 min wait, and now they're closed for the day....anyway -

I'm trying to use vouchers, that are good for standard grading, up to $2500. Going by auction records, CDN, my price paid, and even the Price Guide, I should be within that for all of the coins. However, if several are graded favorably, (and I'm talking split grades, like 58 vs-55, etc) the price guide is over $2500.
I'm assuming my declared value has zero influence in the grading room, as it should....
But, assuming I get lucky on one or two, does PCGS just charge me a surcharge for grading coins with a value >$2500?
Also does the insurance charge change?

How do you guys estimate Declared Value on raw coins, and what are your experiences with this?

moursund

From answers to previous similar questions, as I recall, PCGS would contact you to arrange the correct additional payment (including e.g. for insurance).

am

BStrauss3

If you drastically undervalue some things, CS may reach out. But if not, and the item is lost, your recovery is limited to the lower of declared value or market value.

Walkerguy21D

Thanks guys.

ricko

Since most collectors view their coins favorably, your estimate for value will likely cover reality. Cheers, RickO

lkeigwin

It depends on how big the difference is. PCGS won't quibble over 10 or 20%, in my experience. But when it is blatant (much higher) they will add an additional charge.

FWIW, I have never been contacted before the additional fee is assessed. And I have never contested it. (Perhaps a dozen instances.)
Lance.

fcloud

One of my recent orders had a coin I paid about $100 on an economy grading and used my purchase price. The coin graded much better than what I expected, and the coin value was a lot over the max for the economy. They simply added a surcharge for the coin and that was that. I am not sure if higher levels work the same way, but I am pretty sure if there are issues, they will work with you to arrange something.

logger7

They rely on your judgment and good faith, unless they see a huge outsized valuation above the grading tier. If you send in a coin you think is say, AU58 that grades MS67, they will probably charge you extra, a problem most would be glad to have.

Also since conservation is based on a percentage of value, if you think the coin just does not merit a high valuation, they will rely on that. There are a lot of problem straight graded coins that go for a lot less at auction.

amwldcoin

I‘be had a tier bump 1 time. They just added it to my bill since I was paying with a CC. No biggie and no call.

Walkerguy21D

Thanks everyone.

I was able to get through to customer service this morning right after they opened, (I had another question for them as well), and what they said was spot on to what what everyone is saying. If a coin’s value becomes ”substantially” out of line with the limit after grading, they will charge me at the next higher tier and credit my voucher back to me to use another time.