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PCGS Bulk Submission

Very new to this, but a question, if you had a rather large +200, single date/mint mark, of a coin, e.g. 1888 Morgan Dollar, in the interest of selling them, would you send them to PCGS for a bulk grade or just go with whatever a person/entity would offer?

Comments

  • davewesendavewesen Posts: 5,831 ✭✭✭✭✭

    I have never done it before, but for me it would depend on the grade and value. You also can put a minimum on what they grade before being slabbed (which would be a good sorting method).

    It also would depend on how fast you want/need the money. The more time/effort you put into it, the higher return you will probably get.

  • Thank you and yeah no rush on my end, from what I know they are listed as BU, so I'll presume a minimum grade of MS 60(?) ~$72 on PCGS, IF some of them graded at say MS 64 then they are $155, but then back out $14 grading per coin, still would substancially improve my bargaining position. I have yet to seem them up close, just seems like a more thorough option and yes effort!

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @SirLancelot... Welcome aboard. Pictures would help us give you better answers/options. Cheers, RickO

  • Thank you ricko, currently they are offsite, I may have access to them soon and will post some, great idea. This coin stuff is both frustrating, interesting, addictive, and fun.

  • DelawareDoonsDelawareDoons Posts: 3,233 ✭✭✭✭✭

    @SirLancelot said:
    Thank you and yeah no rush on my end, from what I know they are listed as BU, so I'll presume a minimum grade of MS 60(?) ~$72 on PCGS, IF some of them graded at say MS 64 then they are $155, but then back out $14 grading per coin, still would substancially improve my bargaining position. I have yet to seem them up close, just seems like a more thorough option and yes effort!

    90% of the time I find somebody selling BU rolls of Morgans, especially solid dates, they're dipped out sliders and related trash with absolutely no premium to be had from grading. Especially on those less commonly seen dates like 88, 89, 90 Philly, to give you a few off the top of my head.

    Buyer beware.

    Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."

  • dollarfandollarfan Posts: 315 ✭✭✭

    @DelawareDoons said:

    @SirLancelot said:
    Thank you and yeah no rush on my end, from what I know they are listed as BU, so I'll presume a minimum grade of MS 60(?) ~$72 on PCGS, IF some of them graded at say MS 64 then they are $155, but then back out $14 grading per coin, still would substancially improve my bargaining position. I have yet to seem them up close, just seems like a more thorough option and yes effort!

    90% of the time I find somebody selling BU rolls of Morgans, especially solid dates, they're dipped out sliders and related trash with absolutely no premium to be had from grading. Especially on those less commonly seen dates like 88, 89, 90 Philly, to give you a few off the top of my head.

    Buyer beware.

    100 percent agree, the ebay seller who uses the phrase lustrous evenly matched coins sells cleaned junk rolls as bu rolls. For years now and gets all negative reviews removed due to volume of sales. Junk junk junk

  • jmlanzafjmlanzaf Posts: 31,826 ✭✭✭✭✭
    edited December 2, 2022 7:56AM

    @SirLancelot said:
    Thank you and yeah no rush on my end, from what I know they are listed as BU, so I'll presume a minimum grade of MS 60(?) ~$72 on PCGS, IF some of them graded at say MS 64 then they are $155, but then back out $14 grading per coin, still would substancially improve my bargaining position. I have yet to seem them up close, just seems like a more thorough option and yes effort!

    It is rarely worth it. Most "BU" rolls are going to be slider AUs and MS60/62. The price difference between a slabbed MS62 and a raw MS62 is far less than the cost of slabbing. While you could find an MS63 or 64 in such a roll, it is less common than you think and you really need 20% or more of the roll to reach that level to be worth it.

    It is far more efficient to pull out the 63/64 coins and submit JUST those. [Which the person you are buying the roll from probably did.] Taking a shotgun approach to grading won't benefit you.

  • MFeldMFeld Posts: 12,005 ✭✭✭✭✭

    Welcome to the forum.

    If you haven’t already done so, I recommend checking to see what examples in grades AU55-MS62 have actually been selling for, compared to their listed price guide values.

    Also, I definitely wouldn’t take it as a given that the coins are uncirculated.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • davewesendavewesen Posts: 5,831 ✭✭✭✭✭

    I have no idea of source of this group, but also could have sliders, cleaned or whizzed in the group

    It might be easier to sell marginal BU stuff in rolls than in slabs, but sending bulk and getting everything 63(?) and higher (depending on values for issue) could also be beneficial

  • messydeskmessydesk Posts: 19,679 ✭✭✭✭✭

    I send silver dollars for bulk grading now and then. My impression is that if there's any question as to whether a straight grade is appropriate upon first glance, it will not grade. I would have someone look at them and see if there's 100 that should grade MS and submit those. Sell the rest in rolls.

  • morgandollar1878morgandollar1878 Posts: 4,006 ✭✭✭✭✭

    Depending on your experience, I would have someone check them out that is highly experienced. 200 morgans is a lot and even at $14 per coin it is not going to be cheap to get them all graded and could be a big mistake if you don't know much about grading.

    Instagram: nomad_numismatics
  • OAKSTAROAKSTAR Posts: 5,783 ✭✭✭✭✭

    @SirLancelot- Very difficult IMO to give you the best advise without knowing your exact knowledge level, your motivation for doing this and seeing the coins.

    Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )

  • This is all very helpful and much to think about, thank you.

    My knowledge level is low, I mean intellectually I can comprehend the factors that go into grading, but novice in actually applying it. When I look at Photograde to get the comparison for some coins I have in possession, often I think the MS64 looks better than the MS65 or even MS66.
    -also I realized PCGS price is not exact, but a general indicator and really wanting to look at realized prices.

    I guess my motivation stems from curiosity/validation, not getting taken by LCS (or whomever) and of course potential profit outcome: knowledge is power.
    -the coins have been passed down and been in safe keeping for decades.

    Again as grading goes here are a couple of Mercury Dimes I own pulled out of those old blue books. The 1916 looks like Full Bands to me, or admittedly I want it to be :), and as a novice both look complete...??? Then I look at an example of a 1916 MS67 listed and notice on that picture the center horizontal line is gone, but graded MS67? So scratch head...

    https://www.pcgs.com/coinfacts/coin/1916-10c-mercury/4904So

    So generally I feel disconnected from what should grade what, and not saying my 1916 is a 67, but it seems to have a better reverse and not just melt value?
    -And a LCS looked at these two dimes and was kind of dismissive about them, I realize both are not key dates but all the high points seem to be there and look pretty nice to me, and he said nothing about them being cleaned, so that maybe was a plus from our interaction.

    Any thoughts on the dimes always appreciated...

  • MFeldMFeld Posts: 12,005 ✭✭✭✭✭

    @SirLancelot said:
    This is all very helpful and much to think about, thank you.

    My knowledge level is low, I mean intellectually I can comprehend the factors that go into grading, but novice in actually applying it. When I look at Photograde to get the comparison for some coins I have in possession, often I think the MS64 looks better than the MS65 or even MS66.
    -also I realized PCGS price is not exact, but a general indicator and really wanting to look at realized prices.

    I guess my motivation stems from curiosity/validation, not getting taken by LCS (or whomever) and of course potential profit outcome: knowledge is power.
    -the coins have been passed down and been in safe keeping for decades.

    Again as grading goes here are a couple of Mercury Dimes I own pulled out of those old blue books. The 1916 looks like Full Bands to me, or admittedly I want it to be :), and as a novice both look complete...??? Then I look at an example of a 1916 MS67 listed and notice on that picture the center horizontal line is gone, but graded MS67? So scratch head...

    https://www.pcgs.com/coinfacts/coin/1916-10c-mercury/4904So

    So generally I feel disconnected from what should grade what, and not saying my 1916 is a 67, but it seems to have a better reverse and not just melt value?
    -And a LCS looked at these two dimes and was kind of dismissive about them, I realize both are not key dates but all the high points seem to be there and look pretty nice to me, and he said nothing about them being cleaned, so that maybe was a plus from our interaction.

    Any thoughts on the dimes always appreciated...

    Designations on coins such as “Full Bands” (FB) on Mercury and Roosevelt dimes, and “Full Head (FH) on Standing Liberty quarters, are separate considerations from their numerical grades. So, for example, you can have a low grade MS60FB or 60FH coin, as well as even a very high grade MS68 without FB or FH.

    I can’t tell for certain from your images, but it looks like neither dime has Full Bands. Either way, I don’t think they merit the cost of grading.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

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