Just plain weak. I can live with the fee increase, although I'm not pleased, however, I typically submit 2-5 coins at a time due to the scarcity of the type I'm looking for. Personally if I would need to wait several months, I would rather forgo the submissions and send them to NGC or keep them raw in a capital plastic holder.
Dog and some others have hit the nail on head. PCGS is trying to help with the back log and improve turnaround times. onezy twozy submissions on economy and moderns has got to cause a lot of backlogs. I think the 10 coin minimum will help the processing and save on postage for the submitter. Raising rates by this small % doesnt seem that big a deal. When was the last time PCGS raised rates? 1997?
Is this the beginning of the end? HRH has made millions from small collectors. Reminds me of a firm I was doing business with several years ago. They grew quickly and I received a call from the President saying that he could no longer service accounts generating less than $500 a month in business. Three years later he went bankrupt. He forgot the guys that allowed his business to grow.
PCGS sets under The Thomas Collections. Modern Commemoratives @ NGC under "One Coin at a Time". USMC Active 1966 thru 1970" The real War.
<< <i>I have 10 1964 Kennedy halves PCGS $160 vs. NGC $110. That's a big difference on the 55-64 coins. >>
Actually that would be $99 at NGC if you submit your coins online. If you are a member of their collectors society and submit online, you get a 10% discount.
Andy
PLEASE NOTE: THIS IS NOT AN ADVERTISMENT OR ENDORSEMENT OR OPINION OF ANYONE AT NGC. AFTER ALL 11 BUCKS is 11 BUCKS.....
We are finite beings, limited in all our powers, and, hence, our conclusions are not only relative, but they should ever be held subject to correction. Positive assurance is unattainable. The dogmatist is the only one who claims to possess absolute certainty.
Business decisions are made on supply and demand curve. I would venture to guess PCGS went through the numbers very carefully before selecting a new price. There will be opportunity lost by increasing the price because some people just won't send in coins any more. On the flip side, the increase in revenue will be offset by the increased prices. And as an added bonus the minimums will help with efficiency, so there will be less coins to grade, at an increased price in which equals more profits, better solvency and at the same time they may be able to decrease staff with the lower number of submissions. Although, I don't like to see prices increase, it is a necessary part of business.
I would rather see PCGS price increases, than the company go under, and then we will all sit here with plastic holders with some coins in them.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
You know, it's sad that the modern turnaround is so much quicker than the classics. I find this depressing. No offense to you modern collectors though. Just to let you know, I submitted a coin to NGC for designation review and grading at Long Beach and received it today...That was quick! It was my first submission to them too... Wow
Anyone doing business in California has been faced with insurance rates that are skyrocketing. I work for a nonprofit organization that has seen its rates more than triple with no claims being filed. Worker's Compensation insurance has doubled in the last two years and will take another big jump in July. That might also have something with news announced in the letter.
I am not into slabbed coins, I prefer mine raw, but the Waterloo coin society has something they do. Every 6 months or so if they get 100 coins together to go to ICCS in Toronto they get a deal for $6/coin. One of the club members takes them there and picks them up personally so there is no loss or cost in shipping. They don't seem to have a problem with a coin club gathering 100 coins to go in for certification.
Got the PCGS "bait and switch" letter today (I was baited with promises of one price, and now have to pay another). Since they differentiate between "Regular" and "World Coins Regular" then "World Economy" must still be $15 with no minimum... and "Mint Error Economy" too, still $15 with no minimum. Just "Economy" went up to $16 with a 10 coin min. That's what the letter says, anyway
Got my letter today also. I had completely misunderstood how much better David Hall and PCGS is going to make things better for me, the small time collector, by raising the prices, lengthening the grading times and installing a 10 coin limit on the most used services. Quess I can just send in my 5 coins or so to NGC on economy or modern and get 21 working days service.
Another weird thing in the letter is the $3000 maximum value on coins for the Regular service. If everything in the letter is taken at its face, then I guess coins over $3000 in value have to go through either the Express Special or Walk-Thru????
Wayne - it's so they can get more money out of us for a more exspensive coin, to help offset when they get caught having to pay for an overgrade.
I guess they decided to follow ACG's lead again and charge more for coins that cost more. First they decided to slab coins like ACG, then they came up with other designations (ACG Full Beaks, PCGS Full Torch) and now they are charging more for coins based on their value. Next I wonder if they will start giving away free grading if you turn in people who bad mouth them?
Comments
<< <i>......and we gripe here in NE Ohio because we think $1.60 is too much!!! al h.
You know when Gas in more expensive than Milk per gallon, that's a problem!
peacockcoins
Gas finally went over the two dollar mark on the military bases here in San Diego. I paid $2.03 yesterday at North Island Naval Air Station.
Looking for PCGS AU58 Washington's, 32-63.
Begining of the end
Rich
My thoughts.
Tbig
Gotta love them Mercs
<< <i>I have 10 1964 Kennedy halves PCGS $160 vs. NGC $110. That's a big difference on the 55-64 coins. >>
Actually that would be $99 at NGC if you submit your coins online. If you are a member of their collectors society and submit online, you get a 10% discount.
Andy
PLEASE NOTE: THIS IS NOT AN ADVERTISMENT OR ENDORSEMENT OR OPINION OF ANYONE AT NGC. AFTER ALL 11 BUCKS is 11 BUCKS.....
First POTD 9/19/05!!
I will be severely impacted by the 10 coin minimum. Like Lori, I would likely only submit 2x per year.
NOTE: No trees were killed in the sending of this message. However, a large number of electrons were terribly inconvenienced.
Type collector since 1981
Current focus 1855 date type set
I would rather see PCGS price increases, than the company go under, and then we will all sit here with plastic holders with some coins in them.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
<< <i>Should you pay more for your gasoline if you drive a $40,000 BMW then your neighbor who is driving a $1,500.00 Chevrolet Caprice? >>
Yes, as a matter of fact.
You burn Premium, he burns Regular - a $4 difference per tankful in Southern California.
WNC Coins, LLC
1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
Just to let you know, I submitted a coin to NGC for designation review and grading at Long Beach and received it today...That was quick! It was my first submission to them too...
Wow
Anyone doing business in California has been faced with insurance rates that are skyrocketing. I work for a nonprofit organization that has seen its rates more than triple with no claims being filed. Worker's Compensation insurance has doubled in the last two years and will take another big jump in July. That might also have something with news announced in the letter.
Macqui
GC's DMPL Morgans
WNC Coins, LLC
1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
Ebay name: bhil3
WH
Pennies make dollars, and dollars make slabs!
....inflation must be kicking in again this dollar says spend by Dec. 31 2004!
Erik
I guess they decided to follow ACG's lead again and charge more for coins that cost more. First they decided to slab coins like ACG, then they came up with other designations (ACG Full Beaks, PCGS Full Torch) and now they are charging more for coins based on their value. Next I wonder if they will start giving away free grading if you turn in people who bad mouth them?