Options
Regular Submissions stretched out to 29 business day's? Last Friday it was 21, this morning 29.
icsoccer
Posts: 1,339 ✭✭✭
Why so slow? Yes I am waiting for my 'regular' submission...it just doesn't feel "regular"...so much anymore.
Successful BST transactions to date: Coindeuce, Cohodk, dantheman984, STONE, LeeG, jy8s, jkal, SeaEagleCoins, Hyperion, silverman68,Meltdown,RichieURich,savoyspecial,Barndog
0
Comments
Link
Isn't it fun waiting a week only to get farther back in line?
Tom
Well obviously they're going to just charge you the Economy rate.......................right?
Personally, I think this would be the fair thing to do. But will it happen? I seriously doubt it. I wonder if you could call CS and have them switch it from "Regular" to "Economy" and state the reason why.
On my last regular submission, I made a stink that the regular submission was late, so I expected to be charged economy rates. I received my submission 3 days later with a rush sticker on the blue box.
Patience is a virtue....
Some people are trying to run Businesses around here. Try telling your customers who have been waiting for weeks for their coins to have patience and chill out for a few weeks more. It is unacceptable to wait the stated times at the time of submission and then they jerk you around by adding several more weeks to your wait. Do you think these added wait times would fly anywhere else in the business world?
Has anyone tried to contact our hosts for answers?
Anybody get a good answer??????????????
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
I suspect that the increased turn around times are directly influenced by HRH's absence for his surgery & recovery. The change in the finalizing stage probably required a more rigorous loop.
I suspect that the increased turn around times are directly influenced by HRH's absence for his surgery & recovery. The change in the finalizing stage probably required a more rigorous loop.
There may be some truth to this for some special outlier coins re warranty claims and reconsideration, but I suspect for 99% of all coins it was other factors such as increased submissions, vacations, travel, plethora of shows, software issues, disk capacity issues.
Always looking for tougher PSA 10's of Nolan Arenado, Alex Bregman, Mookie Betts, Francisco Lindor, and Mike Trout.
A friend just submitted a few raw coins for me on the Economy tier.
These are non essential coins as I have the same coins in Certified
holders so, if it takes a few months - then it takes a few months. At
$20.00 per submission - I would think it would take a maximum of
6 weeks. We'll see. No harm, no foul.
~~~~~~~~~~~~
Coin collecting is not a hobby, it's an obsession !
New Barber Purchases
Patience is a virtue....
Some people are trying to run Businesses around here. Try telling your customers who have been waiting for weeks for their coins to have patience and chill out for a few weeks more. It is unacceptable to wait the stated times at the time of submission and then they jerk you around by adding several more weeks to your wait. Do you think these added wait times would fly anywhere else in the business world?
My dealer friend have x=tens of submissions in the pipeline all of which he prepaid.....the money isn't bothersome ,as fielding questions from customers .... when are their coins going to be returned....Frankly... they are selling one item ...Regular and delivering Economy.... something else ....Maybe when shows quiet down ..PCGS can get to work
I also know for a fact that some grading services do not ship coins out as soon as they are done in order to encourage customers to use a faster tier. In the 1970's I saw cartoon ads by one grading service that said you would get your coins back before the return receipt arrived! Use your common sense. If a grading service can return a coin in one day for $100. They have the ability to return a $15 Economy coin just as fast!
The only things that change the turnaround time is:
1. Problem with the submission.
2. Difficult coin to authenticate.
3. Volume of coins sent in.
4. Number of staff at the office.
5. Breakdown of machinery.
6. Running out of slab parts.
7. Holiday.
8. Popularity/importance of customer.
9. Holding coins that are done.
10. ???
Bring graders out of retirement at attractive wage levels? I sent in some submissions on the thought that when complaints get loud something usually gets done about satisfying demands and complaints.
Everyone keeps pointing at graders as the bottleneck. As i said before, many people "touch" the coins. Lack of graders may not be the issue. For one thing, coin volumes are up 40% from last year. Phil has alluded to disk capacity issues in the TruView area.
Look, quit complaining. PCGS slabs often bring the most money, consequently, they are busy. If you need faster service use one of the smaller services that return coins MUCH, MUCH FASTER.
I also know for a fact that some grading services do not ship coins out as soon as they are done in order to encourage customers to use a faster tier. In the 1970's I saw cartoon ads by one grading service that said you would get your coins back before the return receipt arrived! Use your common sense. If a grading service can return a coin in one day for $100. They have the ability to return a $15 Economy coin just as fast!
The only things that change the turnaround time is:
1. Problem with the submission.
2. Difficult coin to authenticate.
3. Volume of coins sent in.
4. Number of staff at the office.
5. Breakdown of machinery.
6. Running out of slab parts.
7. Holiday.
8. Popularity/importance of customer.
9. Holding coins that are done.
10. ???
They don't bring in ANY money sitting in PCGS' vault.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
One of my regular orders is done exactly 23 business days.
Their "estimate" for Regular is ........ 23 days
Easy game.
Regular show submission at ANA put in on Monday came back Friday afternoon. Apparently heritage inundated PCGS right before the show began.
My suspicions exactly. When Heritage submits coins they proll'y take center stage here. Heritage most likely submits more coins than all of us here on the forum combined. You have to tend to your most prolific customers first. We all become peons when someone makes a huge submission. Personally, I don't care how long it takes. (I have not made any submissions yet but I will soon.) I realize that it is a business decision. Heritage most likely gave them a weeks worth of work, thus delay everyone else.
For instance, if you are an older collector (like me) and consign your raw collection of a few hundred or even a few thousand coins to Heritage and they want PCGS to grade them, it could take quite a period of time before they are all done.
Bob
Think positive. Maybe those bright coins you submitted will come back toned.
Or if they are modern, they will come back classics. That's about what you are getting these days.
Regular show submission at ANA put in on Monday came back Friday afternoon. Apparently heritage inundated PCGS right before the show began.
My suspicions exactly. When Heritage submits coins they proll'y take center stage here. Heritage most likely submits more coins than all of us here on the forum combined. You have to tend to your most prolific customers first. We all become peons when someone makes a huge submission. Personally, I don't care how long it takes. (I have not made any submissions yet but I will soon.) I realize that it is a business decision. Heritage most likely gave them a weeks worth of work, thus delay everyone else.
For instance, if you are an older collector (like me) and consign your raw collection of a few hundred or even a few thousand coins to Heritage and they want PCGS to grade them, it could take quite a period of time before they are all done.
Bob
According to their SEC documents, their top 5 customers in aggregate make up approximately 14% of sales. No single customer is over 10%. No single entity is really that large. Believe it or not, David Hall and his wife are 3% customers. Kenneth Duncan is about a 2% customer
9. RELATED-PARTY TRANSACTIONS
During the three and nine months ended March 31, 2016, an adult member of the immediate family of Mr. David Hall, the President of the Company, paid grading and authentication fees to us of $552,000 and $1,557,000, respectively, as compared to $179,000 and $828,000 for the three and nine months ended March 31, 2015. At March 31, 2016, the amount owed to the Company for these services was approximately $181,000, as compared to $145,000 at June 30, 2015.
An associate of Richard Kenneth Duncan Sr., who as of July 2015 was the beneficial owner of approximately 5% of our outstanding shares, paid us grading and authentication fees of $378,000 and $944,000 in the three and nine months ended March 31, 2016, respectively, as compared to $208,000 and $748,000, respectively, in the same three and nine months of fiscal 2015. At March 31, 2016, the amount owed to the Company for these services was approximately $44,000, as compared to $118,000 at June 30, 2015.
Customers. Five of our coin authentication and grading customers, in the aggregate, accounted for approximately 14% and 17% of our total net revenues in the nine months ended March 31, 2016 and 2015, respectively.
Or it's modern mint products for 70's.
I will never send another economy submission to PCGS. If I don't have it budgeted in for regular service, they wont go here.
My june 15 econo was not finished today, which means at least another week, was hoping, as several others(posted by members) right before mine were completed, but now with the ana submissions, I'm sure its pushed way back now
I will never send another economy submission to PCGS. If I don't have it budgeted in for regular service, they wont go here.
Still waiting on a June 2nd order. I'm done with econ service here also. I'm sure nobody cares.
$552K in grading fees in 3 months from the top dog? Also, the large customers do not pay as much as the rest of us. No matter what rate they pay, that is a very large number of coins sent in each month. I wonder if it is public info what coins they are? For instance, huge crossovers paying the 1% or reconsiderations, getting coins to go up and paying the 1%? Wow.
At $30 a pop that would be 18,400 coins. It's amazing that they are able to maintain their volume of worthwhile coins.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Nothing would surprise me at this point.