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Bulk Submissions
19Lyds
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How many folks are going to be affected by this new Bulk Submissions policy?
It will certainly take me out of the Presidential Dollars First Day of Issue submissions as well as my paultry First Strike™ SAE's.
It will certainly take me out of the Presidential Dollars First Day of Issue submissions as well as my paultry First Strike™ SAE's.
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
The name is LEE!
The name is LEE!
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This is bad on so many levels.
I don't think this is going to have any good benefit to PCGS in the long run.
I understand Bulk submissions have been way down.
Guess, they are going to go down some more.
Gardnerville, NV
=========================
Our Website -->Innovation, Native & Presidential Dollar Errors, Lincoln Cents and more
Check it out --> Our eBay Auctions
Are there any PCSG Authorized dealers other than Mitch that do First Day of Issue Prexy Bucks?
The name is LEE!
Mark
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Given the fact that MOST dealers do not bother with First Day of Issue Presidential Dollar submission'ss (ever see any at a coin show?) I wonder if a new conditional/grade/special insert rarity will be born from this decision? Submission's are down from the Washington.
Washington Total FDI = 10,988 (Position A & B Excluding Error's)
Monroe Total FDI = 6,826
Seems a bit unfair since, as I said, dealers generally do not participate in this venture. I've NEVER seen a First Day of Issue slab at any show, either local or National, big or small. Only on eBay by us small potato's!
I've polled all the big FDI sellers on eBay and none of them are Authorized dealers but 1 is working on it.
The name is LEE!
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
JMHO, GrandAm
The name is LEE!
<< <i>I was just thinkin' Given the fact that MOST dealers do not bother with First Day of Issue Presidential Dollar submission'ss (ever see any at a coin show?) I wonder if a new conditional/grade/special insert rarity will be born from this decision? Submission's are down from the Washington. Washington Total FDI = 10,988 (Position A & B Excluding Error's) Monroe Total FDI = 6,826 Seems a bit unfair since, as I said, dealers generally do not participate in this venture. I've NEVER seen a First Day of Issue slab at any show, either local or National, big or small. Only on eBay by us small potato's! I've polled all the big FDI sellers on eBay and none of them are Authorized dealers but 1 is working on it. >>
CoinFame.com is a PCGS Authorized Dealer. (recently) We're responsible for 1/2 of the 6,826 Monroe Pop report. Sorry you haven't seen us at the shows. We've been to busy helping online customers that we haven't had the time to make a presence at the shows. The good news is that the prices are lower for the end consumer because of it.
Wondercoin
<< <i>It was Coinfame behind this change all along!! He wasn't happy with a 50% market share.
Oh Man, caught Red Handed. I'm sorry. LOL
I have to say that IMO, this ranks with one of the more idiotic things any company I know of has done, not just PCGS. This WILL hurt submissions, in the $10K range just for me in a year. Let see, if we reduce submissions we can improve operational speed! Good idea if we sell less we can be faster! Ya know, McFly, if you only did one order in a day you would be really fast but the minor point is that you would be broke in no time. I have no idea who the brain surgeon on staff that thought that reducing customer demand to makes things easier was a good thing, but their little yellow bus boss really takes prize.
<< <i>I have to say that IMO, this ranks with one of the more idiotic things any company I know of has done, not just PCGS. This WILL hurt submissions, in the $10K range just for me in a year. Let see, if we reduce submissions we can improve operational speed! Good idea if we sell less we can be faster! Ya know, McFly, if you only did one order in a day you would be really fast but the minor point is that you would be broke in no time. I have no idea who the brain surgeon on staff that thought that reducing customer demand to makes things easier was a good thing, but their little yellow bus boss really takes prize. >>
The name is LEE!
Now the cost of submitting each coin will be a minimum of $14.00 as compared to $8.00 at bulk prices.
Was that a factor in the decision?
Will it reeeaaally cause a cut-back in submissions?
Maybe the extra $6.00 bucks per coin is a good business decision.
I also think this is a very poor decision because it totally does away
with many peoples' chances to make a few bucks & nice coins.
Would've been too logical to just increase the price until demand (for bulk submission services) met the supply (of available staff to grade them). What a ridiculous wasted opportunity.
Hey, here's an idea, let's take the stock down ANOTHER 75% from it's 2000 high. If only there were puts.
"New PCGS Bulk Submission Policies Effective July 1, 2008
- June 3, 2008
BULK SUBMISSIONS
Effective July 1, 2008, only PCGS Authorized Dealers may submit coins under the Bulk Submissions program. Collectors Club members who wish to submit coins under the Bulk Submissions program must either become a PCGS Authorized Dealer or submit coins through a PCGS Authorized Dealer.
SPECIAL INSERTS
Effective July 1, 2008, special inserts (First Strike, 50 States Flags, Signature Series, Satin Finish, etc.) will be available only through the Bulk Submissions program and will not be available under any other service level.
These changes are being made to speed up and streamline processing and turnaround times at PCGS. Any bulk submissions received by PCGS or postmarked before July 1 will be processed under the old Bulk Submission program rules."
My money is just as good as some dealers!
The name is LEE!
Just submit through a authorized dealer or become a authorized dealer and stop whining.
<< <i>Just submit through a authorized dealer or become a authorized dealer and stop whining.
You first.
The name is LEE!
I suppose we'll see in the long run!
This really isn't that big of a deal for those collectors who were doing bulk submissions. This can still be done through a dealer. The only difference is you'll need to write the cooperating dealer's number on the form rather than your collectors club number. That's it. No big deal. Everything else stays the same.
The real effect of this change is the small submission for special labels. For the collector who was getting the special labels, this will be a bigger obstacle. If you must have the special label, you'll have to buy the coin from someone who has done a bulk submission rather than submit them yourself.
WH
<< <i>I'm surprised at the degree of whaling and knashing of teeth over this policy, particularly from people who were doing bulk submissions.
This really isn't that big of a deal for those collectors who were doing bulk submissions. This can still be done through a dealer. The only difference is you'll need to write the cooperating dealer's number on the form rather than your collectors club number. That's it. No big deal. Everything else stays the same.
The real effect of this change is the small submission for special labels. For the collector who was getting the special labels, this will be a bigger obstacle. If you must have the special label, you'll have to buy the coin from someone who has done a bulk submission rather than submit them yourself.
WH >>
WH,
The problem is in the special labels. How many dealers are going to buy 20 spouse coins to submit as a bulk submission @ 600 + each?
And the mint only sells them in singles for the first week, then up the limits depending on sales...By then the mint gets into the backorder game and you get your BULK order outside of the 30 day window for First Strike.
I know many have submitted ASE in Bulk or State Quarters and even Presidential Dollars screened before release date to not have to submit a whole brick of dollars.
I think with some modifications, such as a higher fee. Oh thats right we were paying $ 10 for First Strike labels before? What's up with that? Now, POOF.....
No more Collectors Club Perks..................
My main issues (Gripes or Whines) are:
1) No small quantity submissions for First Strike. (At any price including EXPRESS?)
2) Bulk orders of "Screened" Presidential Dollars by release dates for First Day Issue Labels.
Are The Collector Club Members that much of a pain to deal with?
As Lee said, We have good money too!
Gardnerville, NV
=========================
Our Website -->Innovation, Native & Presidential Dollar Errors, Lincoln Cents and more
Check it out --> Our eBay Auctions
<< <i>I'm surprised at the degree of whaling and knashing of teeth over this policy, particularly from people who were doing bulk submissions.
This really isn't that big of a deal for those collectors who were doing bulk submissions. This can still be done through a dealer. The only difference is you'll need to write the cooperating dealer's number on the form rather than your collectors club number. That's it. No big deal. Everything else stays the same.
The real effect of this change is the small submission for special labels. For the collector who was getting the special labels, this will be a bigger obstacle. If you must have the special label, you'll have to buy the coin from someone who has done a bulk submission rather than submit them yourself.
WH >>
I don't think it will be that easy Wayne since there is a signature spot on the form which I assume must be the dealers signature. My biggest concern is in the Presidential Dollars First Day of Issue. I scramble the entire day selecting the best coins I can find for submission and usually end up at the post office about 10 minutes before closing. The difficult part for me is in getting Denver Mint coins since all the local banks here INSIST that they cannot give me any until the date on that sealed box is met!
I do have a source for P mint coins that I can get the week of release provided he can get them but the D Mints always cause a hectic day!
Now, I'll either have to get a Dealer's number and his/her signature on the submission form. I suppose it's possible but it just adds another crazy step to the process.
As for small submissions for First Strike™ slabs, I don;t think PCGS is changing the rules on that one just because they go through the Bulk Department. I think those could still be submitted by a dealer onesy twosey as they have in the past. The problem will, again, be in finding a dealer willing to work with you without exhorbitantly high fee's. A dealer may not go for ths but since it's going on my card, I don;t see how it could possibly affect him/her.
I won;t really know until I do some poking around but the point is, it doesn't really have to be this way and lot's of us simply do not understand! We pay more per coin than the dealers that do submit bulk so in essence, PCGS is losing money on the deal. I have no idea how much other than the extra $100 I spend each year for the First Strike™ SAE's and the First Strike™ Presidential Proofs.
The name is LEE!