Submission Question

BryceM

So, I've been taking down some albums that I picked up for bullion value and there are a few coins I want to send in raw for grading. Most of them are probably in the slider range, but they're semi-key dates and are probably valuable enough to justify the expense. I'll be looking to sell them once they come back.

I'd like to send them in at the economy level since I'm in no real hurry and they really aren't gems or true rarities. I'm guessing that one or two will come back wearing the ever-popular "genuine" tag.

My question is this........ What if one or two of the coins surprise me and get a grade high enough to be valued > $300. Is there some penalty for exceeding the limit of the economy service? Does PCGS break up the submission and bump it to their "regular" service? Do they bill for the difference? Do they just return it ungraded? Do they ignore it and pass it through the system? For that matter, does undervaluing a coin on the submission form negatively impact the "subjective" part of the final grade? I'm guessing "no", but I don't know enough about the nuts & bolts of the process.

I've looked on the website and I can't find the answer. Sorry for repeating a question which has surely been floated around here a few times already.

RYK

There is no penalty. I have never known anyone to be given a hard time about this. My guess is that if you sent in some proof $20 Libs at the economy level, they might have an issue, but if you are making a good faith effort to abide by the rules and one of your coins exceeds the value for the submission tier, the only potential problem is that it is underinsured on the way home.

LindeDad

<< <i>There is no penalty. I have never known anyone to be given a hard time about this. My guess is that if you sent in some proof $20 Libs at the economy level, they might have an issue, but if you are making a good faith effort to abide by the rules and one of your coins exceeds the value for the submission tier, the only potential problem is that it is underinsured on the way home. >>



the value is for shipping insurance purposes mostly.

ModCrewman

<< <i> the value is for shipping insurance purposes mostly.
>>

This is what I've been told by customer service.

relicsncoins

I've had a few coins come back graded higher than I thought. I once sent in a 57 Flying Eagle as an AU58 under the economy tier, and it graded MS64. No penalties just a coin being shipped back with $300 insurance instead of $1000.

derryb

submit in good faith with what you believe the graded coin to be worth based on the grade you think it will receive.

BryceM

Thanks for all the info. There really are a lot of great people on this forum.

With past submissions I've always erred on the high side with the value estimates. As it turns out, my grade estimates are almost always blissfully optomistic. In this particular order there will be several pieces with some reasonably heavy (but very attractive) album toning. I believe these to be in the AU55-MS61 range, but I could see a few of them going higher. Judging from other coins in these same albums, the collector had a reasonable eye for quality. My grading abilities are improving, but have a ways to go when it comes to toned & re-toned pieces.

Guess we'll see how it turns out............. in a couple of months.........