Should PCGS allow direct economy submissions without any membership required?
291fifth
Posts: 24,588 ✭✭✭✭✭
I suspect they are losing a lot of business at the "economy" of the market because of their restrictive submissions policy.
I for one have coins I'd love to send in for economy slabbing, but don't want to have to buy a membership or submit them through an authorized dealer.
I for one have coins I'd love to send in for economy slabbing, but don't want to have to buy a membership or submit them through an authorized dealer.
All glory is fleeting.
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There are probably some on this board that could be in your area who would help you send them in on their membership.
Anyway, that $50 gets the four quarterly submissions, so you actually get something for joining.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
<< <i>The membership requirement helps a company like CU better manage submissions and predict business volume. It also reduces customer service problems associated with allowing access by completely ignorant submitters. >>
Too much Kool-aid, Roger.
They do it because it's another income source for them. As long as they can do it, they will.
Helps to keep street people out.
They do it because it's another income source for them. As long as they can do it, they will. >>
Let's see.
4 x $30 = 120.
Monthly pop reports = maybe $20.
They are making money on the $49.95 silver membership?
I don't know if there are too many companies which can survive on those profit margins.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
In five years I have only submitted 1 coin for the quarterly submission.
<< <i>I am sort of in the middle on this, The membership is like the one you have to buy for the wholesale clubs. It would be nice if they went back to a free level again, as the quaterrtly submissions are pretty much worthless, unless the coin you are submitting something that could only be graded at the Regular Service level.
In five years I have only submitted 1 coin for the quarterly submission. >>
I consider the quarterly submissions to be nearly worthless. During the time I was a member I never sent in a single quarterly submission coin.
Have you stopped to calculate the shipping cost lately?
Also keep in mind that companies can use memberships to smooth workload and provide a steady, predictable stream of work for the business. At times, it may be desirable to do this even though profit margins are slim in order to retain trained employees. (In a high-skill service business, it can cost $8,000 to $10,000 or more to train one entry level employee. Once productive, every employee retained vs a competitor hiring replacements, is additional unspent overhead/G&A and an additional competitive advantage.)
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<< <i>I am sort of in the middle on this, The membership is like the one you have to buy for the wholesale clubs. It would be nice if they went back to a free level again, as the quaterrtly submissions are pretty much worthless, unless the coin you are submitting something that could only be graded at the Regular Service level.
In five years I have only submitted 1 coin for the quarterly submission. >>
I consider the quarterly submissions to be nearly worthless. During the time I was a member I never sent in a single quarterly submission coin.
Have you stopped to calculate the shipping cost lately? >>
I have submitted two coins (in five years) for the "quarterly freebie", and the fact that it far from free has been discussed. Usually, when I bring up the shipping costs, I am labeled as an "old crank" for looking a gift horse in the mouth. The fact is that it would be free (or virtually so) if they were service-oriented enough to allow you to have the so-called freebie ride home with another submission. However, that would require someone at PCGS to spend an extra thirty seconds on the customer's account and that notion is unfathomable.
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I have submitted two coins (in five years) for the "quarterly freebie", and the fact that it far from free has been discussed. Usually, when I bring up the shipping costs, I am labeled as an "old crank" for looking a gift horse in the mouth. The fact is that it would be free (or virtually so) if they were service-oriented enough to allow you to have the so-called freebie ride home with another submission. However, that would require someone at PCGS to spend an extra thirty seconds on the customer's account and that notion is unfathomable. >>
You are an old crank
You just happen to be right, imho, on this though
The lack of having submissions tag back together has actually kept me from submitting some coins I would have. I am a collector so I don't care as much about the price the plastic brings, so if it costs too much too send back, I don't do it.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
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I have submitted two coins (in five years) for the "quarterly freebie", and the fact that it far from free has been discussed. Usually, when I bring up the shipping costs, I am labeled as an "old crank" for looking a gift horse in the mouth. The fact is that it would be free (or virtually so) if they were service-oriented enough to allow you to have the so-called freebie ride home with another submission. However, that would require someone at PCGS to spend an extra thirty seconds on the customer's account and that notion is unfathomable. >>
You are an old crank
You just happen to be right, imho, on this though
The lack of having submissions tag back together has actually kept me from submitting some coins I would have. I am a collector so I don't care as much about the price the plastic brings, so if it costs too much too send back, I don't do it. >>
I think that PCGS is short-sighted on this. If they would allow the freebie to ride home with another submission, I can see foolish people (myself included) scraping together a paid submission just so they could use the freebie. Instead, all of the coins stay home, and so does the payment for the submission. I am not a marketing or business person by training, but this seems to make good sense to me.
<< <i>Well its certainly worth it if you pick and choose something worth submitting just like any other submission. To expect to get a good deal on getting random pocket change graded is absurd. >>
You are missing the point here. Let look at the laster quaters coins eligable for free grading.
If you submitted a $20 Saint, Then yes it was a good deal...but how many people have uncertified Saints laying around???
If you submitted a Presidential Dollar, what's the point you can add it to a mordern submission for about the same cost. I would say there were many more Presidental Dollars submitted than Saints.
jim
No, I dont think PCGS should offer grading with out having a membership, it screens out a lot of worthless submissions which bogs down the worthy submissions. The current turn around times are great!
jim
It's interesting CLCT is the parent company. PCGS requires the membership. PSE does not.
KJ
DAMN! That's what I've been doing wrong.
I would say it depends on the value of he coins you have to send in.
Many over $300, choose the Platinum with the 8 FREE submissions.
Only a few $300+ coins, choose the Silver level. Quarterly freebie savings would be based on the value of the coin sent in. It may not be $30.
To answer you question directly, 'Should PCGS allow direct economy submissions without any membership required?', that would be great. Not gonna happen. Whether because it's a revenue stream, or to keep trained personnel, maybe the membership costs offsets running these forums, $50 over 12 months ($4.17) is a small price to pay for membership.
As far as letting other members send in coins for you, if you were to do that, my only advice is to make sure the coins are sent to your address after grading.
It's interesting CLCT is the parent company. PCGS requires the membership. PSE does not.
Not Yet!
To PCGS, there are no worthless submissions. Anything that generates a fee is worthwhile.
If they truly cared about worthless submissions, they wouldn't slab moderns.
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<< <i>Well its certainly worth it if you pick and choose something worth submitting just like any other submission. To expect to get a good deal on getting random pocket change graded is absurd. >>
You are missing the point here. Let look at the laster quaters coins eligable for free grading.
If you submitted a $20 Saint, Then yes it was a good deal...but how many people have uncertified Saints laying around???
If you submitted a Presidential Dollar, what's the point you can add it to a mordern submission for about the same cost. I would say there were many more Presidental Dollars submitted than Saints. >>
well they can't please everybody and there are only so many coins to pick from.
The point of the free quarterly submission is not necessarily to encourage a chitload of nuisance submissions [it probably costs the same to process a freebie as it does a walkthru on a $100k coin and the freebie generates little if any revenue]. Its more likely a ruse to encourage you to send it as a tag along with a larger submission [and I agree with returning it that way too and not separately] and also its a way to reward those who submit regularly.
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<< <i>I am sort of in the middle on this, The membership is like the one you have to buy for the wholesale clubs. It would be nice if they went back to a free level again, as the quaterrtly submissions are pretty much worthless, unless the coin you are submitting something that could only be graded at the Regular Service level.
In five years I have only submitted 1 coin for the quarterly submission. >>
I consider the quarterly submissions to be nearly worthless. During the time I was a member I never sent in a single quarterly submission coin.
Have you stopped to calculate the shipping cost lately? >>
I have submitted two coins (in five years) for the "quarterly freebie", and the fact that it far from free has been discussed. Usually, when I bring up the shipping costs, I am labeled as an "old crank" for looking a gift horse in the mouth. The fact is that it would be free (or virtually so) if they were service-oriented enough to allow you to have the so-called freebie ride home with another submission. However, that would require someone at PCGS to spend an extra thirty seconds on the customer's account and that notion is unfathomable. >>
I agree it would be nice to have them ride home with an existing order.
If many are not used, is that good or bad from a customer relations perspective?
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<< <i>I am sort of in the middle on this, The membership is like the one you have to buy for the wholesale clubs. It would be nice if they went back to a free level again, as the quaterrtly submissions are pretty much worthless, unless the coin you are submitting something that could only be graded at the Regular Service level.
In five years I have only submitted 1 coin for the quarterly submission. >>
I consider the quarterly submissions to be nearly worthless. During the time I was a member I never sent in a single quarterly submission coin.
Have you stopped to calculate the shipping cost lately? >>
I have submitted two coins (in five years) for the "quarterly freebie", and the fact that it far from free has been discussed. Usually, when I bring up the shipping costs, I am labeled as an "old crank" for looking a gift horse in the mouth. The fact is that it would be free (or virtually so) if they were service-oriented enough to allow you to have the so-called freebie ride home with another submission. However, that would require someone at PCGS to spend an extra thirty seconds on the customer's account and that notion is unfathomable. >>
I agree it would be nice to have them ride home with an existing order.
If many are not used, is that good or bad from a customer relations perspective? >>
Since we don't know to what extent the quarterly freebie is even used it doesn't matter what customer relations perspective is. I'd say if it was dertrimental that PCGS likely wouldn't be offering it.
<< <i>Since we don't know to what extent the quarterly freebie is even used it doesn't matter what customer relations perspective is. I'd say if it was dertrimental that PCGS likely wouldn't be offering it. >>
Absent a larger survey, we have some anecdotal experiences and we can also apply deductive reasoning to estimate whether they are popular or not.
I agree it's probably not that detrimental from a PR perspective to have them not be used. Is there something to be gained by having high transaction costs on a free service?
Since I buy only encapsulated coins, I would like to see PCGS lower the prices for NGC/ANACS/ICG crossover submissions. After all, the coins have already been authenticated and given an approximately correct grade by one of the other acceptable grading services.