Does PCGS Prefer to no Longer Grade Common Date $20.00 Saints and Libs?
Luxor
Posts: 475 ✭✭✭✭✭
I recently asked a PCGS CS rep what would happen if I included some mid MS grade commmon date $20's in my voucher submission since the per coin value limit is now down to $2500.00 for vouchers as well as regular srevice submissions. I was told that unless the value of those $20's were barely over to the max limit of $2500.00 per coin limit that that they would not be included as part of the voucher and would be charged at the express level of $70.00 per coin even though they would not be treated at express turnaround times.
So basicaly this means if you wants to submit lets say 3 or 4 common date $20's in the MS63 -MS65 range they must go through at the express tier at a whopping $70.00 per coin plus a minimum of $41.00 return shipping and the $10.00 fee and your expense of shipping to PCGS. Does that sound insane to anyone else for coins that in many cases now trade as bullion coins very close to or even below spot for lower grade MS coins?
The other two major services (CACG and NGC) offer a tier for gold coins with much lower fee's and both with very quick turnaround times. So can I assume that PCGS pretty much is no longer interested in having collectors submit common date $20's in grades below maybe MS66?
Your hobby is supposed to be your therapy, not the reason you need it.
Comments
No.
They are more than happy to grade them at the proper submission level. Unfortunately for you, the gold value had (until recently) pushed the value of $20s to over $2500.
Correct me if I’m wrong, but the value is just for insurance purposes. So if you are ok with only getting 2,500 back if they are lost, you can say that’s the value.
Never considered this.
I'm not sure it's an insurance issue. The different tiers have dollar value limits.
The threshold used to be $3000, but they lowered it to $2500. Perhaps they'll reconsider this given the jump in gold value bumping $20s to a higher tier other grading services.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I believe I asked them this once because I had a coin that depending on how it graded, could have been way over or way under. So I put it in the under category and bumped up some of my other coin values to max them out.
The two top TPGS must have extremely high overhead costs per week that no one could possibly imagine. That's what the high costs for everythingthey do. I guess it comes back as a "value added" thing.
Look for my new discussion!
Just sent a group to CACG for a reason…….
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
Less expensive and quicker turnaround?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Yep
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
I just squeezed two thru In baltimore, customer was bitchin about cost, so I said Ill try it, I told him, They may upcharge it, there just common au 20's. My biggest reason was I didnt not want any gold coins going in on my express submission was due to mail theft . I have a few better dates that should grade well, and i dont want gold package thieves targeting that one.
If they trade as bullion then maybe it doesn’t make financial sense to get them graded in the first place?
It doesn't. That is a different point, however, the the submission tier.