PCGS/NGC submissions and estimated value

Prethen

I know that ICG requests you put an estimated value down for each coin you submit and I'm guessing that PCGS and NGC require the same. What should you put down in that column, especially if you're hoping a coin will be upgraded? If I have a Proof64 and I'm hoping for Proof65 should I put the Proof65 value down? Should I put the retail value or wholesale or what?

Also, along the same lines, what's the appropriate amount the coin(s) should be insured for when sending them to PCGS/NGC? For what you paid and you can prove via receipt or how much it would cost retail on the open market to buy it (them) back?

Vet

I don't know if I was right, but I sent in 4 coins to PCGS yesterday. I put down retail value, what it would cost to replace them, for insurance.
Larry

nwcs

I just take a stab at what I estimate the value to be and hope for the best.

mr1931S

This brings up the question: Do graders have any information about what the submitter insured coins for that are in front of them about to be graded?

nwcs

No, the graders only know the lot number.

Prethen

Anyone else have input on this? I've only submitted a single coin to a service and it was PCGS.

MORGANHUNTER2

if you look at the NEW pricing and for the tier that you submit- there are certain limits that you can send your coin in. I believe under econo your value on the coin can't be more than $300.00, so in a nutshell if you feel that you have a 400.to ?? coin then you would need to consider moving it up a tier ($30.00) or leaving it insured at the max of $300.

Fairlaneman

For the value go to the PCGS price guide. They are going to PCGS, correct.

Ken

LincolnCentMan

I think the reason they have you do that is for insurance purposes. I used to not put anything down, then PCGS required a value. I figured up what I thought the group was worth, divided it by the number of coins I sent in and put that value down for every coin. That way there'd be little chance that my "values" would play into any of the grading equation.... for good or bad. Another thing is that I'll often send in two or three coins worth more than the $300 cap that PCGS puts on their economy submission form. But I'll send in a number of coins worth less than $50 with them. Since I can only claim up to $300 value on the more expencive coins, I "make up" for it in the cheap coins.

David

LincolnCentMan

This brings up the question: Do graders have any information about what the submitter insured coins for that are in front of them about to be graded?

I believe ICG graders do not have access the invoice. They really play up that they are the only grading service that has taken significant steps to insure that they are impartial to grading.... reguardless of who sent the coins in.

I think the graders for the other TPG services do have access to the invoices, I wouldnt steak my coin collection on it.


if you look at the NEW pricing and for the tier that you submit- there are certain limits that you can send your coin in. I believe under econo your value on the coin can't be more than $300.00, so in a nutshell if you feel that you have a 400.to ?? coin then you would need to consider moving it up a tier ($30.00) or leaving it insured at the max of $300.

If you send in a $400 coin and a $50 coin. Insure the $400 coin for $300 and the $50 coin for $150.

David

MORGANHUNTER2

well comes the question then:
Who has knowledge of what you value the coins at if you submit them say at 200 each for 6 coins the cost to insure would for 1200(6 coins is $19.30, and one of the coins winds up being worth for the sake of an arguement- in the neighborhood of 5,000. Does customer service give you a call and tell you that you have undervalued your coins, by 5,000.? Or do you feel that the grades on the coins will come back in the area of the called value of 200 or less?

nwcs

No, only if it looks like you intentionally tried to do it. Like putting an AG03 1893S morgan in economy. I've had about 4-5 coins that I thought would value less than $300 but ended up grading much higher than I thought and were over $300 in value. No problems at all. But in those situations, it may be prudent to call and adjust insurance.

CoastGuard

ICG guarantees and warrants the submitted coin goes to a third party first so with that method the grader can not be influenced. I can not find that printed warranty in PCGS or NGC . In addition, no employee or owner of ICG has ownership in any coin dealer nor are they allowed to make markets in coins. I'm sure PCGS does their best at this but I haven't found written warranties to this effect because PCGS and NGC have owners who are also dealers. These three score the best and the others are far behind.

MORGANHUNTER2

What about ANACS- do the graders there know the dollar value placed on the submission? Or do they grade according to what they see and any attribution that may be listed with it?