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$35 to grade a silver Kenendy 50th Anniversary coin
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NGC is charging $35 for a 70 grade and the "Ask not holders" look very average. Is PCGS charging the same for their average looking 50th holders? I have not seen a price. I would like to see someone take leadership here and not be greedy but I think they collude on this sort of thing. I will not be joining the circus past my 5 sets.
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Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Too many positive BST transactions with too many members to list.
This makes the price over-inflated to the buyer and seller of the products from the get go. I have to admit I do like the coins but I won't be a big player in this circus if at all.
Not worth submitting them yourself, except in bulk.
<< <i>Especially when the shills can't get the non-bidders to bid.
Will this be the issue where 98% of Coins " sold " will actually be bought back by the sellers due to unsuccessful
shilling?
Or did that event already happen with the Gold Kennedy's?
Carpe Diem, NGC.
<< <i>NGC is charging $35 for a 70 grade and the "Ask not holders" look very average. Is PCGS charging the same for their average looking 50th holders? I have not seen a price. I would like to see someone take leadership here and not be greedy but I think they collude on this sort of thing. I will not be joining the circus past my 5 sets. >>
"I" know what the coins are, when they were released, why they were released and who the individual was that is depicted on the coin and how little relavence that he actually has "with" the release of the coin. As such, no special label is needed by me.
And for that matter, since these coins are significantly different from their 2014 counterparts, folks in the future, after I am long gone, will know exactly what I know.
As such, any "special slab labels" with a bunch of extra stuff on them, won't be requested by me since it really means very little in the big picture. It's the coins that count.
As for bulk submissions?
Bulk submissions have always had different prices associated with the different grades of coin. I still have the invoice where I paid $40 for my MS68 Monroe FDI Dollar coin and $30 each for my MS67 James Madison FDI Dollars here the MS66's were $10 and $12 respectively.
That's just the way the bulk submission program is set up. At least for PCGS that is.
The name is LEE!
<< <i>My guess is a set of NGC 70's will retail for $299, PCGS 70's probably $359. >>
The mint provides the silver product at $100 and the graders get $140 for a set of 70's? Hmm seems greedy to me. Maybe $20 a coin at most. It's the easiest thing in the world to grade and they don't have to take it out of the mint plastic to do.
BTW, anyone look at our hosts submission page? The button clearly says, "Get the Label". At least there are no illusions on what you're buying...
<< <i>NGC is charging $35 for a 70 grade and the "Ask not holders" look very average. Is PCGS charging the same for their average looking 50th holders? I have not seen a price. I would like to see someone take leadership here and not be greedy but I think they collude on this sort of thing. I will not be joining the circus past my 5 sets. >>
PCGS wants $25 just for the label. (First Strike/Kennedy label.) So for a Regular submission, it's going to cost $57/coin, plus flat fees plus shipping.
As I mentioned before, all these Kennedy's are going into my collection raw...
I could do it for you for $5. , however his one is for free.
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
….. see typo above for details.
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
As with sports cards, beanie babies, ect. people will realize their BS is worth little of the price they paid and will stop buying.
<< <i>AFAIK, NGC is charging for the Early Bird tier ($30 + $5 for First Releases). Where does it say a 70 will cost more? >>
They had sent out emails to bulks dealers with 12 for 69 and 35 for 70's
<< <i>PCGS wants $25 just for the label. (First Strike/Kennedy label.) So for a Regular submission, it's going to cost $57/coin, plus flat fees plus shipping. >>
Okay that is really, really greedy. I don't see the math for a dealer would it not be $25 + $14 for a regular submission this making it $39/coin? They seem to have colluded here as expected.
<< <i>NGC is charging $35 for a 70 grade >>
Found this out yesterday after a phone call to NGC....
I'm sure there will be plenty of them dumping away just to make back the wasted bucks even at a loss....
May just be selling the sets in unopened boxes...
<< <i>I have no problem with the prices... just don't agree with different prices depending on what the coin grades... >>
I can' blame them for being sick of writing big checks to submitters lucky enough to get the first ones graded and sell em for big bucks on eBay.
<< <i>The submitter has to bring something to the equation, and that something is a strong hunch the coin's grade warrants submission. If the ability is lacking, then that person is better off buying the slabbed coin.
>>
There is a limit of 20 coins or 5 sets per person from the mint. By the way this is not enough for a bulk submission anyway which means the buyers need to maneuver around the mint system in the first place. Say you come up with 25 sets or 100 coins for a bulk sub, you can likely bet at least 50 70 and 50 don't on the average. A big assumption but when a 70 set sells for $299 by Xmas and the mint charges $100 and NGC charges $140 not to mention other costs (ebay, shipping both ways, paypal etc) there will be no profit and this does not even take into account the loss on selling the 69's. This is total BS. Let's say the average NGC cost is $25/slab to the submitter between the $12 for 69 and $35 four a 70. What gives the grading company the gall to think their product is worth the same amount as the mint's product. When the mint supplies all of the silver and craftsmanship etc.
I just want to add the mint product is very cool.
What are the grade distribution figures for the recent past silver proof kennedy?
2014 1754 69 and 2150 at NGC
2013 590 69 and 479 at pcgs adding both set types. Don't know 2014 most likely will be similar spread.
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
I do think the market is a nice little boutique in numismatics but I will let someone else pay slab fees and assume the risks involved. I do buy mod slabbed coins here and there - about 90% 69 with a few 70 if the price not that far from 69. In pricing research for retail on mods for my tabale at a show or web site I like the L&C Coins pricelist which is free.
Where is the link for the $35 they are supposedly charging. According to their site they charge $15 per coin on mods less than $1000, 5 coin minimum.
1. It appears the point of this thread is to point out the "through the roof" pricing of these upcoming coins at NGC. Then, of course, one possible solution is to grade them with PCGS instead. Best I can tell, PCGS may be a cheaper alternative for these coins.
2. My largest monthly expense, month in and month out, is my PCGS Bill. It can often be 10x the highest monthly mortgage I have ever paid in my life! One needs to be very careful in determining which coin projects to grade and which to not grade. Sometimes you really can't get it right even with ten or twenty years experience behind you (e.g. the proof gold Kennedy coins), but most of the time you can. And, it does often come down to calculating the economics and statistics of what you expect to spend vs. what you expect to grade out.
3. Bottom line is no one has a gun to anyones head to grade this or that with the grading services. I probably have the better part of (50) or more MS67+ silver Washington quarters in my collection right now. Of course, some are super high end (a few nicer than MS 68s I have seen) and some are low end for the grade. It had been nearly impossible for me to receive an MS68 grade on the coins for a number of years so I stopped submitting them at $110 a pop after dropping upwards of thousands of dollars in grading fees over the years. On the other hand, at the same time I discovered it had become much easier for me personally to slab MS67RD wheat cents so I doubled or tripled my effort in that area. Again, it comes down to the economics and statistics of each coin. What I have seen over the past nearly twenty years of my heavy submissions to PCGS is that being a smart coin submittor has made many a person very wealthy. Which is why PCGS and NGC both are getting in record level of submissions these days. And, which could also explain why submission fees are rising much faster than the cost of living.
Wondercoin
<< <i>2013 880 69 and 1350 70 at ngc
2014 1754 69 and 2150 at NGC
2013 590 69 and 479 at pcgs adding both set types. Don't know 2014 most likely will be similar spread. >>
Pcgs has majority 69 then 70 and few if any other grades
But I still caution these will be of the same quality as silver proof set coins.
<< <i>The continuing greed is spreading to the third party graders. The grading of modern coins is on a path to going down in flames.
As with sports cards, beanie babies, ect. people will realize their BS is worth little of the price they paid and will stop buying.
I'll disagree with he Sports Card comment since the US Mint doesn't produce anywhere near the amount of unique coins as there are baseball or football that have ever lived/played and have had their likenesses emblazoned on "paper".
The name is LEE!
Add on top of that the intense competition among dealers and even collectors these days to try to be THE lowest price seller of any particular product. In fact, some dealers on ebay are even OK selling BELOW cost just to capture new names for their mailing lists best I can tell.
I, personally, have not penciled in much of an anticipated profit for 2015 on these silver Kennedy coins in my forecasts. So, I have no beef with the grading services on what they intend to charge on these coins as there will be many dealers and collectors who "pay uo" to play and neither PCGS nor NGC are "charities". Both grading services are obviously doing a lot right - just look at PCGS' current stock price right around a multi year high.
No question as a submittor one needs to pick their spots and make the right moves in this "dog eat dog" marketplace we now find ourselves in. Otherwise, one can get eaten alive with projects that will be nothing more than total losses.
Wondercoin
Starting with the 2011 25th Anniversary sets, this has been common. It hasn't been worth certifying your own moderns since that release.
Box of 20
<< <i>My main complaint is the flood gates are open on 70's early in the process, then the spicket is turned off.........
Starting with the 2011 25th Anniversary sets, this has been common. It hasn't been worth certifying your own moderns since that release. >>
That should not be a complaint as much as a simple and useful observation that a frugal collector could take advantage of.
Unless, of course, your complaint centers around the fact that you're not able to sell your 70's for what you thought you would. Or that they were purchased in the hopes of selling them for more.
The name is LEE!
<< <i>
<< <i>The continuing greed is spreading to the third party graders. The grading of modern coins is on a path to going down in flames.
As with sports cards, beanie babies, ect. people will realize their BS is worth little of the price they paid and will stop buying.
I'll disagree with he Sports Card comment since the US Mint doesn't produce anywhere near the amount of unique coins as there are baseball or football that have ever lived/played and have had their likenesses emblazoned on "paper". >>
Even though quantities had a lot to do with the demise of sports cards, beanie babies, ect. the point I was trying to make is:
That as hype leads people to pay high prices that quickly fade they will become disenchanted at some point and stop buying.
As prices go higher and higher then drop quicker the disenchantment will increase. The greed eventually works against itself.