Submission questions?

baseballjeff

Hello Everyone,

I am getting a submission ready for a hand full of Modern Commemoratives. The ones from '10, '11, and '12. How do I determine the 'declared value' for the halves, dollars, and $5 pieces? My other question, should I save my 8 free submissions for my little more expensive vintage coins? Probably doesn't make a difference since the value is less than the $3,000. But what do I do if one of them could grade really well and it would be over that of 3k? What kind of a value do I base on this Morgan since I have never submitted vintage Morgans before?

Thank you all!
Jeff

fcloud

Some people use price paid. Others judge by their estimated grade and the price guides. You are only entitled to what you paid if it is lost in the mail.

djm

The declared value is basically the mint issue price, but you can put what ever you want. It only makes a difference for the retun shipping. There are NO FREE Submissions. You paid more than the cost of the modern submissions for your voucher. If you don't have coins to submit at the regualar $30 level then you already paid for these go ahead and use them. I always join at the silver level and only submit modern and economy levels as it is much less expensive for the same service.

LindeDad

Save your voucher for coins that will require the Regular level of service be sure to make the voucher submission out for Secure Plus level of service.

As mentioned cost or what you want PCGS to pay you for the coin if it's lost on the return trip as they self insure in most cases now. BTW your declared value is used to determine the cost you pay for return shipping so moon figures will not work.

michiganboy

I have a question that pertains to this, you guys said declared value only has to do with return submission costs. What about like he said a more expensive like the Morgan that could possible go over the $3000 mark. I got a coin in my submission that could possible go over that but I used my judgment as well as two board members to come up with a grade that is at $2000 for PCGS price guide, but two points higher and its over the $3000 ( I can't remember by how much). I was kinda worried they would send it back as undervalued. They have a section in their grading standards that list a code for undervalued , refund and return, no service. I also noticed they also state that coins undervalued will be charged at the proper rate, what makes the call for the different avenues of handling this situation and how strict are they considering I here people say use what you paid or the price guide for values. As we know some people pay less then what a coin is valued at by multiples less then sometimes especially when its a cherry pick.

djm

The simple rule is list it for what you would want to get for the coin if it were to be lost.

A HRH Story: A frequent submitter always undervalued his coins on the submission form to save on fee's. There was a show coming up at which HRH knew the submiter would be and asked the submitter to see come to the PCGS table. When the submiiter arrived at the table HRH told him he had some bad news for him, his coin had been lost but he had a check for the declared value of the coin. The submiiter just about had a heart attack because the coin was woth several times the declared value. At which point he gave the graded coin to the submiiter.