PCGS Reopens Bulk Submission to collectors
ProofCents
Posts: 1,656
I just saw that PCGS reopened bulk submissions to collectors after restricting them to dealers only for a while. Any thoughts? See press release below.
Effective immediately bulk submissions will be open to all Collectors Club members.
Bulk submissions were closed to Club members last year due to frequent violations of submission rules. Improper submissions create a tremendous bottleneck as our operational staff has to reconcile each submission. Unfortunately that closure also penalized the submitters who were abiding by bulk submission rules. We are going to re-open the Bulk Submission Service with a couple new twists.
Before submitting bulk, a club member must sign an agreement wherein they agree to pay a $75 handling fee and have their coins returned ungraded for any improper bulk submission (this fee will be charged to their credit card or deducted from the payment sent with the submission).
Improper submissions include submitting less than the minimum quantity of coins and/or including more than four different date/mint mark combinations. At PCGS' discretion the submitter may be contacted and offered the choice of changing to another submission level and paying the incremental fee. Fair warning: we will allow no exceptions on this issue.
Bulk program requirements:
100 coin minimum
No more than four different date or mint mark combinations
Estimated 30-day turnaround.
Cost:
$10 per coin that makes the minimum grade assigned by you. There is a 60% minimum. If less than 60% of the coins do not make your grade you will be charged $5 each for the coins that failed to meet the minimum.
Effective immediately bulk submissions will be open to all Collectors Club members.
Bulk submissions were closed to Club members last year due to frequent violations of submission rules. Improper submissions create a tremendous bottleneck as our operational staff has to reconcile each submission. Unfortunately that closure also penalized the submitters who were abiding by bulk submission rules. We are going to re-open the Bulk Submission Service with a couple new twists.
Before submitting bulk, a club member must sign an agreement wherein they agree to pay a $75 handling fee and have their coins returned ungraded for any improper bulk submission (this fee will be charged to their credit card or deducted from the payment sent with the submission).
Improper submissions include submitting less than the minimum quantity of coins and/or including more than four different date/mint mark combinations. At PCGS' discretion the submitter may be contacted and offered the choice of changing to another submission level and paying the incremental fee. Fair warning: we will allow no exceptions on this issue.
Bulk program requirements:
100 coin minimum
No more than four different date or mint mark combinations
Estimated 30-day turnaround.
Cost:
$10 per coin that makes the minimum grade assigned by you. There is a 60% minimum. If less than 60% of the coins do not make your grade you will be charged $5 each for the coins that failed to meet the minimum.
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Comments
BUT
You gotta love flip flops.
Is that a FLAT RATE?
As I recall, PCGS was assigning a minimum grading fee before, with the fee going up as the assigned grades got better.
<< <i>$10 per coin that makes the minimum grade assigned by you.
Is that a FLAT RATE?
As I recall, PCGS was assigning a minimum grading fee before, with the fee going up as the assigned grades got better. >>
Cost:
$10 per coin that makes the minimum grade assigned by you.
So, a higher grade will cost more.
.....If not, than I am going to submit under my Collectors club account, since that would save some money.
Gardnerville, NV
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Did you forget to add
Actually there seems there might be a piece missing.
In the past there was a minimum for those that made the grade and a lower minimum for those that didn't (e.g. 6.50 & 8.50 or something like that).
Perhaps Russ or another dealer (or PCGS) could clarify this for us.
According to the required PCGS Bulk Submission Agreement, "To be eligible for Bulk Submissions, you must submit a minimum of 100 (one hundred) coins on an order with no more than four different date, denomination and mint mark combinations." It seems collectors can mix denominations, e.g., Jefferson nickels and Lincoln cents, on the same bulk submission. And presumably both wheat and memorial cents also could be included as part of the same bulk submission. I think this is a new "feature"
MS Buffalo
MS 1951