Poll - What do you think is the minimum value of a coin being submitted to PCGS should be?

TopographicOceans

In an early thread we learned that PCGS states they have graded over 29 million coins with a total value of 29 billion, or an average of about $1000 per coin.

If you look at the price guide, there are a large number of prices listed that are below what it costs to get them graded.
You have to assume those were mistakes made by the submitter (I know personally I've made a number of those )

For me, I don't like to buy a coin over $300 raw, but what do you think the minimum value of a coin should be before sending it off to PCGS?

Barndog

this will help explain my response to the poll

DIMEMAN

There are many reasons to submit coins to PCGS. Some of them have nothing to do with what the coin is worth.

oih82w8

I have a couple of coins in my 7070 type PCGS collection which are worth about $10. I bought them that way, I did not send them in.

I agree with DimeMan, there are times that value has nothing to do with it.

dib

If somebody wants to spend their money on grading fees, I say go for it, regardless of the value of their coins. It's their money/coins not mine, they can do whatever makes them happy.

For me personally, I'll only send in coins if they're worth at least $200. The grading fees + shipping costs are just too high for me to want to send in lower value coins.

Unknown

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BillJones

I don't think that there should be a minimum value. If you want a coin certified, go ahead and get done. If you are looking for a complete type set, as I have been over there years, there are many modern coins that probably should not be graded if the value of the piece was the sole reason for doing it. Yet I have found them at the shows. Many such coins are graded in bulk submissions at reduced rates, which makes the fact that they are certified more logical.

Walkerfan

I think that people should do as they please, if it makes them happy. As for myself, I wouldn't bother with a coin valued at less than $200.00.

DollarAfterDollar

There's so much cleaned garbage out there that anything over a hundred bucks that's not slabbed is immediately suspect.

coindeuce

There is a good article in this months edition of The Numismatist. There is a formula proposed in the article that one can theoretically use to determine if a coin is worth submitting for TPG authentication/grading. Personally, I see some coins occassionally that are worth more out of a holder than within.

JJSingleton

<< <i>I think that people should do as they please, if it makes them happy. As for myself, I wouldn't bother with a coin valued at less than $200.00. >>

+1

DennisH

The title of your thread is different from the title of your poll. Which one should I answer?

pocketpiececommems

That is like asking the question "what is the minimum value of coin that a dealer should sell". In collecting to each his own.

Justacommeman

Less then zero

To each is own

MJ

mozin

I voted $100, simply for economical reasons. Luckily, at my advanced age, I no longer need to look for coins in that price range. Thank you Lord!

Shamika

I like the physical protection slabs (PCGS, NGC, ANACS, etc) give coins. You can hand a Proof 70 coin to a non-collector without worrying it will be damaged.

planetsteve

<< <i>There's so much cleaned garbage out there that anything over a hundred bucks that's not slabbed is immediately suspect. >>



Sounds like an idea for another poll: what's the most expensive coin you feel comfortable buying raw?

Depends on whether it's in person or on eBay, I guess.

roadrunner

Bulk submissions of Morgan silver dollars at $9-$14 net grading fee per coin can be profitable with MS63 or higher coins, worth $50 or so. I would have checked $40-50 min. just based on a business decision.

410a

There are reasons to be in the holder and reasons to be out of a holder. A dollar value is only one of the reasons and that reason might have to do with it being prudent to have the valuable coin entombed. Excellent topic edited because my fingers go faster than my spelling.

OldEastside

Well logically, every coin will have face value, so I'm good with that

Steve

LindeDad

Considering the last two I submitted are less than any number you have and the cost of getting them made for my set was less than what I can find them selling for. What was the question again.

Type2

I try to send in coins that I can get my grading back + some Profit if I cant I'll sell it raw. But I went with none. No minimum any one can send in a coin that has no velue over face but It's worth a lot more to them for sentimental reason's and want to have it holdered. To bad you could not put something in the cert some thing specal like RIP, Date or a list of who owned it with Date's that would be very cool.



Like

Type2-2015
Barndog-2016
TopographicOceans-2018

That's if you send it in and pay the fees to do so now that will be cool and I'll do it. You know how much money they will make?

CoinZip

To me the only time a coins value is important is when I'm buying or selling it.....

BryceM

Depends. On average, from the hip, somewhere around $200.

I did a 20th Type Set. The pre-1950 coins all deserve to be in slabs. Many of the post 1970 coins don't. But, I seem to be afflicted with enough Registry Fever to need the whole thing "done". Call it OCDif you want. I fully understand that I likely won't recoup some of the costs associated with this at sale time. I'm OK with it. It's a hobby.

"To protect the coin" doesn't make sense to me. There are cheaper and arguably better ways to protect coins than mailing them across the continent to be entombed in plastic.

Some coins are completely illiquid outside of a slab. If you submit enough, the actual cost of economy grading isn't all that high.

ricko

This is a hobby, and still a relatively free country. People can submit coins of any value... and to be frank, some are virtually worthless - except to the collector. Cheers, RickO