PCGS or Teletrade Some advice plz

Coppertop1982

I have some rather nice MS varieties I wanted to get rid of. The problem after contacting Teletrade is that I will have to wait 6-8 weeks for grading. And another 2 weeks if I want them CAC'd , then another 30 days to boot to receive the money from them.

they do have lower submission costs , but a minus is if anything comes back details grade, I do believe they just sell it and I'd have to re-buy the coins if I want to resubmit them, meaning I would essentially be paying them for my own coin back ,Also the submission form says PCGS doesn't charge for details slabs but I was under the assumption that PCGS does .

I could buy membership to PCGS and essentially
pay the costs , which are like $30 a coin, + 15 for variety, then obviously insured shipping from and to them (Zomygod) SO $50-100 to join them + fees is kinda mauiwowie, I'm going to assume the variety submissions aren't included free,(* Voucher offer is not valid for Mint Errors, Special Issues, First Strike fees, Variety Attribution fees, Oversized Holder fees or coins valued over $3,000) also not the express services so I'd have to pay more. And If a coin comes back in a details holder
I'm kinda
By the time I get my coins holdered I might have to pay them to take them lol, especially if I want them quickly which costs more. Teletrade offers a good service, but I don't know about waiting like 3 months to get a check from 6 coins or so that I suspect are going to realize at $1000 or so before the fees. At any rate it may seem better to pay the express fees, so I get the coins quicker so I can have more money to do other things with like reinvest it or , well free up that cash,.

l hope you follow my endless rambling on ,I just wanted to hear your experiences, and thx lol
thoughts opinions

LindeDad

PCGS or Teletrade Some advice plz

Yes you are right both of those companies are for profit enterprises and the faster you want money the more they will charge.

19Lyds

It sounds to me as if you are new to the TPG Grading game which tells me that you should not use Teletrade. You might get a big disappointment but would still be obligated to offer your coins for sale on the Teletrade site..

Join the PCGS Collectors Club at the Platinum Level. You'll get 8 free grading vouchers which means you'll only have to pay the $8.00 handling fee and the TO/FROM Shipping Insurance costs.

Variety attribution is an additional $24 (not $15!) provided your submitting Cherry Picker Varieties (FS-xxx). There is no attribution costs associated with Red Book Varieties. (i.e. Accented Hair Kennedy, 1943 DDO Washington, 1955/55 Lincoln, 1972/72 Lincoln, etc. etc.)

1tommy

Why not just get the Platinum membership, you get 8 free coins graded and yes it will still cost you 24 dollars per coin for variety attributation. But you can use the voucher to put all 6 of those in Secure Plus holders at NO additional expense, and skip CAC. I have used teletrade to sell and had a great experience, you can not be in a hurry for the cash. Otherwise get them graded and sell them on the BST NO Fees....... Good luck Enjoy

DIMEMAN

Turn on your PM.

Coppertop1982

IMs are on , thx for the replies

MsMorrisine

Well, platinum membership has a price over the regular membership

is the value of submission costs for the 8 coins going to be more or less than the price differential between the platinum and regular membership?


======

you may avoid some other surprises if you can take good pictures of what you have and post them here.

people here can generally tell you if they are worth the cost of submitting them to PCGS.

MsMorrisine

also good pictures can sell ungraded items on the "Buy, Sell, Trade forum" here

BAJJERFAN

<< <i>I have some rather nice MS varieties I wanted to get rid of. The problem after contacting Teletrade is that I will have to wait 6-8 weeks for grading. And another 2 weeks if I want them CAC'd , then another 30 days to boot to receive the money from them.

they do have lower submission costs , but a minus is if anything comes back details grade, I do believe they just sell it and I'd have to re-buy the coins if I want to resubmit them, meaning I would essentially be paying them for my own coin back ,Also the submission form says PCGS doesn't charge for details slabs but I was under the assumption that PCGS does .

I could buy membership to PCGS and essentially
pay the costs , which are like $30 a coin, + 15 for variety, then obviously insured shipping from and to them (Zomygod) SO $50-100 to join them + fees is kinda mauiwowie, I'm going to assume the variety submissions aren't included free,(* Voucher offer is not valid for Mint Errors, Special Issues, First Strike fees, Variety Attribution fees, Oversized Holder fees or coins valued over $3,000) also not the express services so I'd have to pay more. And If a coin comes back in a details holder
I'm kinda
By the time I get my coins holdered I might have to pay them to take them lol, especially if I want them quickly which costs more. Teletrade offers a good service, but I don't know about waiting like 3 months to get a check from 6 coins or so that I suspect are going to realize at $1000 or so before the fees. At any rate it may seem better to pay the express fees, so I get the coins quicker so I can have more money to do other things with like reinvest it or , well free up that cash,.

l hope you follow my endless rambling on ,I just wanted to hear your experiences, and thx lol
thoughts opinions >>



See if they will limit the consignment only to those coins that grade out. Of course you'd pay for the gennies, but they would be returned to you. If they don't agree then look elsewhere.

LochNESS

Before you go joining anything ... PCGS readily supplies a list of authorized dealers whom are scattered all across the lower 48 ... you can bring your coins to any of them, and they will submit on your behalf along with their next order. Downside is you'll be at the mercy of their timetable. Upside is you won't have to pay any membership fees (only the cost of grading, which will likely be less than standard anyway as big dealers often get discount rates).

19Lyds

<< <i>Before you go joining anything ... PCGS readily supplies a list of authorized dealers whom are scattered all across the lower 48 ... you can bring your coins to any of them, and they will submit on your behalf along with their next order. Downside is you'll be at the mercy of their timetable. Upside is you won't have to pay any membership fees (only the cost of grading, which will likely be less than standard anyway as big dealers often get discount rates). >>

Not all PCGS Authorized Dealers will submit coins for you. This requires some phone calls.

The best bet is to join for a year at the Platinum Level then submit the coins.

RedTiger

It is a tough nut. Your estimate of $1000 hammer for six coins might well be low, or super optimistic. It looks like about $350 in grading fees, another $50 in shipping, and then you still have auction fees or consignment fees, if you grade them yourself. Teletrade fees might be 30% of the hammer (combining buyers and sellers fees), and then subtract out grading fees. The math might be discouraging if your price estimates are optimistic.

Another possible option is to try to sell them raw, or consign them to a specialist dealer and let them try to sell, or have them make a cash offer.

The variety market can be spotty. You did not mention the specific coins, and that might make a big difference. Where are you getting the price estimates? If you are looking at actual auctions, that would be a good thing. Prices from something like Cherrypickers, might be a bad thing because many minor varieties have little retail support because most people would rather try to find them than pay for them.

DeliaBug

Geez... What is this hobby turning in to when $1,000 worth of coins returns less than 50% due to death by fees. And that isn't even considering a cost basis.

Caleb

You have left out too many variables to give any advice.
What are the coins, dated before or after 1955?
What do you estimate the grade(s)?
Are you sure that PCGS recognizes the variety?

Silver membership (annual): $49.00
Application fee: 8.00
Six coins at (Economy) 108.00
6 coins Variety Attribution 144.00
Return postage 21.95

Total $ 330.95

Price per coin, roughly $55 each to have entombed and attributed.

LindeDad

<< <i>Geez... What is this hobby turning in to when $1,000 worth of coins returns less than 50% due to death by fees. And that isn't even considering a cost basis. >>



Very much out into left field here.
Most varieties are only worth the base price of the coin until verified by a knowledgeable source and the market for them is very small and select. In too many cases the owner over grades and over looks problems that the professional grading doesn't.
Only then is it going to be valued with the premium.

BryceM

In this scenario, I'd shop them around to three or four local dealers. See what they'd offer. Even if the offer is lower than what you're seeing for auctions, you'll get paid immediately and you won't need to put in the work up front. Selling them on eBay is another option and can be even better than the auction houses depending on exactly what you're selling and what sort of audience you'll need to attract. Several people around here can list them for you on a consignment basis if you aren't comfortable with the computer end or don't have enough feedback to attract buyers. If the individual coins are worth more than $100-$200 you'll probably have better luck selling them after certification. Still, I'd have someone knowledgeable about the grading game take a look first. There's no need to waste money submitting coins that clearly won't grade.

GRANDAM

The best thing that you can do in this situation is:

#1 - pick out what you feel are the (2) or (3) highest grade / value coins. Coins that you feel sure you can grade accurately on.

#2 - Talk to another coin person,,,,, a dealer or friend and get their opinion on the grade of the coins.

#3 - If you still feel the coins are worthy have a PCGS Dealer or a friend or Forum Member here submit them for you for grading. This way should they not grade out at what you are expecting you limit your potential lossess. You will also find out if you can grade or how well.

GrandAm

Nickcap

Post some pictures here if you can.

Members here can tell you what you are looking at with your coins.