Bulk grading -- pro's and con's??

SurfinxHI

Since I am a newbie on the boards, and I really haven't seen this topic, I'd like some input from forum members.

What do you feel the pro's and con's are to bulk grading, and if you have submitted, are you usually successful if you stipulate a minimum grade? What happens to the coin rarity/price if you actually get some coins to grade at high levels? Do they automatically drop?

The obvious pro is the price break of about 40%, and the obvious con is the few number of date/mint marks. Are there others?

Thanks for your thoughts, and Merry Christmas!

Greg

BillJones

Some the grading I've seen NGC do on modern coins was a very bad joke. Years ago, for whatever reason, a dealer I know sent several rolls a Sacagawea dollars in for bulk grading. The grades that came back seemed like they graded on a bell curve instead of reality. It seemed like they spent more time putting coins in holder than grading them. Coins with spots and scratches got into MS-67 holders while better coins ended up in MS-65 holders. This was a bad deal for anyone who bought them and ultimately NGC because their weak standards were an indicator of why NGC “don’t get much respect” in the modern coin market.

tahoe98

.....also, i thought, this isn't a collector choice. i understood that you can't do this unless you're a dealer. correct?

19Lyds

<< <i>.....also, i thought, this isn't a collector choice. i understood that you can't do this unless you're a dealer. correct? >>



Collectors Club members can and do submit bulk order's.

You also must specify a minimum grade since you will get billed for the coins which do not meet that minimum.

The only drawback I see would be the costs. Paying for 5 coins at $18 each ($90) is much easier to handle vs paying for 100 coins at $10 each ($1,000).

rld14

Dealers can bulk submit misc circulated stuff. I have a bunch of cheap coins that I would like to submit for grading sets and lowball sets.

I REALLY wish I could submit 50-100 BS coins for $10 each, at $18 each it's really not worth it for me right now.

Frankcoins

Some of the programs had a serious conflict of interest. Like you send in 5000 coins wanting a minimum grade of 65...the grading service gets $20 for each they grade 65, and nothing or $1 for the ones they will not call 65. So how much will they stretch their standards to get $100,000 instead of $5,000?

Bear

A collector is probably best served, by having a

trusted dealer pre screen coins, before submitting

them to PCGS. If there are more then a handful to

presort, then a reasonable fee should be mutually

agreed upon.

19Lyds

<< <i>Some of the programs had a serious conflict of interest. Like you send in 5000 coins wanting a minimum grade of 65...the grading service gets $20 for each they grade 65, and nothing or $1 for the ones they will not call 65. So how much will they stretch their standards to get $100,000 instead of $5,000? >>



Bulk submissions are limited to a maxiumum of 500 coins Frank and the billable fee for grades received is on a sliding scale according to grade. On my bulk submissions the fee's were as follows:

MS65 and lower was $10 per coin
MS66 started at $10 per coin but elevated to $12 per coin
MS67 was $30 per coin
MS68 was $40 per coin

"No grades" (where minimum grade was not met) are $2 per coin.

To imply that PCGS "adjusts their grades" to fetch higher billable grading fee's is treading on bannishment ground.

LindeDad

Look too beyond the grading as part of the equation too. Is there a follow on market for 80 ms66's of the coin it is easy to end up with coins selling for less than what the grading cost?
This would have to be equated for each date and mint mark and type that you submit.
As for grades a larger pool of coins submitted will equate to a larger chance of getting some higher grades.
If a person has never done a bulk submission a call to customer service would be recommended as mistakes can be very costly. You are held responsible for the correctness of the submission, this was stated when bulk was opened back up.

Bear

11th Commandment

Thou shalt not speak ill of

of the owner of this website.

If thou shalt break this commandment

then thou shall be smitten, smote and smacked

from the celestial powers that rule from on high.

clackamas

I have had graded thousands of coins via bulk, its a good deal for mid range coins, but I have never had a homerun coin out of a bulk grade. I super high grade my bulk submissions and the top coins that should/could garner that homerun grade (Say MS68 on Modern dollars) go in by themselves. I have yet to see PCGS do anything upsetting with bulk grades for top pops, but that said they get those midrange coins fairly well, say MS67 Lincolns or Sacs, SAE's, etc.

I do a min grade on all my coins, if it won't command at least $30 after grading, I would rather pay the minimum and not get a ton of plastic back.

I have some 2008 Lincolns nearly ready to go in right now.

Frankcoins

<< <i>
To imply that PCGS "adjusts their grades" to fetch higher billable grading fee's is treading on bannishment ground. >>



I never mentioned PCGS. They were not the company that offered such a plan.

WinPitcher

To imply that PCGS "adjusts their grades" to fetch higher billable grading fee's is treading on bannishment ground. >>



I never mentioned PCGS. They were not the company that offered such a plan.

========================================================

FWIW I did not take it that you were accusing any specific grading co. If anything I thought it was NGC since the post earlier mentioned them.



Steve

rjsriv

[.

To imply that PCGS "adjusts their grades" to fetch higher billable grading fee's is treading on bannishment ground. >>




UNFORTUNATELY THIS IS TRUE!!!! but isn't it a microcosm of how things are-- the truth is usually stomped on

SurfinxHI

Thanks for all the info and opinions.

Merry Christmas!

Greg

19Lyds

<< <i>

<< <i>
To imply that PCGS "adjusts their grades" to fetch higher billable grading fee's is treading on bannishment ground. >>



I never mentioned PCGS. They were not the company that offered such a plan. >>



My bad Frank and I apologize.