How to estimate value for submission to PCGS

rlawsha

For those of us that are not graders, how do you estimate the value of a coin being sent to PCGS for grading? Some of the Morgans have quite a price spread in grades above MS60. Take for example an 1880-O Morgan: MS62 - $100, MS63 - $360 and MS64 it jumps to $1,650. Say you have one of these and you think it might have a shot at MS64. But, since you frequently get slammed on submissions (because you are in the process of learning how to properly grade) you are not sure of the value of the coin. Do you error on the high side, pay the higher grading fee and hope that it comes back at MS64? Or do you estimate it at a lower value and pay the lower grading fee ($16 versus $30 assuming time is not an issue). If the coin is valued at over $300 you cannot submit it via economy and use the $16 service you must use Regular and pay the $30 fee. Will PCGS charge you more if a coin comes out at a value of over $300 and you submitted it at Economy?

mgoodm3

What did you pay for it? That how I have valued mine.

centmaster

PCGS will not charge you more in they grade it high and thus is worth more than $300. However, they probably would frown upon an SVDB or a 16-D dime coming in on economy as they're worth more than $300 in any grade. If you're talking about mint state coins where the spread is huge, it's your call. You could easily send them economy and have no problem unless it's a rare date, but sometimes I think that if the graders see a batch of cheaper coins coming in, then they'll assume it's an economy submission (I have no idea what they know and when they know it) and be inclined to give a worthy 65 Morgan a 64, for instance. It's just human nature. They might think, "If the submitter thinks it's worth less than $300, then OK." Sending a borderline coin in w/ regular submission coins may get them to assume a higher grade from the start, but who knows how it really works!

jhuberdude

I was in the same situation recently and was not sure what to do. Since most of my good coins were passed down from my grandfather, I had no value to use as a refrence. I just did the best I could and erred on the high side. I will hopefully see how close I was this week. PCGS got my first club submission on 3-3-04, so I think I will be hearing from them this week.
Good luck.

PS- make sure you send them registered and insured and not in a padded envelope. I used a box made for mailing video tapes and had to seal the hell out of it with brown paper tape.

John

ealandg

I value mine with retail replacement value using my own grading standards. The main purpose is for return postage insurance.

sadysta1

A WORD OF CAUTION:

Your insurance amount and your PCGS decleared value MUST match. Even if you overisure you'll have to provide post office with your submission form as a proof (I had to) and post office will refund you the value of the invoice, not the total amount decleared.