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Why do (should) Classic Coin Collectors pay MORE to have their coins graded?

braddickbraddick Posts: 24,178 ✭✭✭✭✭
You collect Peace dollars. Maybe it's Buffalo nickels or even seated quarters.
Your buddy collects Ike dollars or clad Washington quarters.

Why do you, the Classical Collector have to pay 50% more, at minimum, to have your coins graded?
Or, in other words, you both submit a grouping of a dozen coins.
HE gets a 50% discount over you over his series of coins.

Why?
Isn't five seconds, five seconds? Does it matter if that five seconds is spent looking over a 1921 Morgan or a 1976-D type2 Ike?
Why can the Ike guy get three of his coins graded at the same cost as your TWO coins?

peacockcoins

Comments

  • Great question. PCGS would say they did that because modern coins bring less money, and a Proof Ike would not be worth to slab at the $15.00 level. The same apply's for classic coins. There are many that are not worth slabbing for $15.00. If you are trying to get all coins graded at $10.00 a pop I don't think it will happen.

    Cameron Kiefer
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    No, the real pisser is the 1964 Kennedy's. Send in a 1965, $10. Send in a 1964, $15. Go figure... I thought modern is be any coin less than 100 years old... Works for me.
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • airplanenutairplanenut Posts: 22,222 ✭✭✭✭✭
    Maybe the lower price helps bring bulk submitters, but no one submits classics in huge amounts of similar types... also...

    Coins now are all very well struck- the grade comes from first glance at luster and marks. For classic coins, a grader must be able to identify a coin that could be a weak strike year or have some extra wear (26-S buff comes to mind). I think graders have to be a little more knowledgeable in a series or what to look for exactly in a modern vs. classic coin.

    Jeremy
    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • braddickbraddick Posts: 24,178 ✭✭✭✭✭
    Ok, but isn't that like saying, "Hey, you drive a BMW 540i- your gas is $2.00 a gallon. If you drove a 1996 Maxima it would be only $1.50".

    Same gas (same grading). Same service- both cars DON'T get their windshields cleaned by an attendant!.
    Different pricing structure?

    peacockcoins

  • shirohniichanshirohniichan Posts: 4,992 ✭✭✭
    Simple-- moderns aren't worth very much (unless they're proofs with die cracks) so there's less risk of buy-backs for overgrades. image
    image
    Obscurum per obscurius
  • braddickbraddick Posts: 24,178 ✭✭✭✭✭
    PCGS Overgrades??! :confused::

    peacockcoins

  • gmarguligmarguli Posts: 2,225 ✭✭
    No, the real pisser is the 1964 Kennedy's. Send in a 1965, $10. Send in a 1964, $15. Go figure... I thought modern is be any coin less than 100 years old... Works for me.

    Just send in the 1964 Kennedy under the Modern Service. I do that and have no problems. I never understood why that one coin would cost more. PCGS must agree since they seem to let it slide. image
  • mdwoodsmdwoods Posts: 5,548 ✭✭✭
    Obviously Classic collectors have more money, so they can afford to pay more.image
    National Register Of Big Trees

    We'll use our hands and hearts and if we must we'll use our heads.
  • IrishMikeIrishMike Posts: 7,737 ✭✭✭
    It takes them 7.5 seconds to grade classics and 4.75 seconds to grade moderns. More time more costly.
  • Maybe the classic coin graders get paid more than the modern guys.
    careful- that light at the end of the tunnel might be a freight train!
  • Sounds like a great question for Rick in the Q&A Forum. If you ask it there and he answers it, please post his response to this thread, as I don't read the Q&A Forum. image
  • With the classics they sometimes actually have to look at the coin to see if it is authentic. With the moderns they just assume it is. image
  • krankykranky Posts: 8,709 ✭✭✭
    I don't think they look at it as charging more for classics, it's a discount for moderns to keep the submissions coming in. Just like no one is allowed to charge you extra for using a credit card, but they are allowed to give a discount for cash. Same net result, two different perspectives.

    But the authenticity question would be relevant to cost. If determining authenticity isn't much of an issue (i.e. moderns), they can process them faster. They still back the coins with their guarantee, but if the chance of a fake state quarter is essentially zero there's little point in doing anything but putting a grade on it.

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • dorkkarldorkkarl Posts: 12,691 ✭✭✭
    i can grade moderns in just a few seconds, no way can i say the same of bust coins or copper, at least in better grades. in fact, i'd be surprised if i can grade a typical bust half in the VF-MS+ range in less than 30 seconds, a full minute if its in the slider range. also, if they are grading properly, ie. by variety, quite a bit of time is taken up just attrib'ing the coin.

    on the other hand, why pay any $ at all to get a bust half certified? it's probably the most subjective series out there, outside colonials.

    K S

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