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how to value coins to be graded
ebaybuyer
Posts: 2,984 ✭✭✭
recently I was questioned by the dealer under whom I use for PCGS grading, a few of my coins that were sent in economy, he felt they should have been sent regular, I realize the economy limit is $300 my question is how would one arrive at the $300 limit ? I don't feel comfortable using PCGS price guide as an evaluation tool for raw coins because lets face it, graded coins and raw coins are worlds apart. I prefer to use the PCGS price guide for coins that ARE graded. I don't know how PCGS will "see" my coins. one lesson ive learned while playing the grading game ... its not about consistency. $300 coins that come back cleaned are now $175 coins, $200 coins that I expected to grade X that graded Y become $500 coins, and on any given day that can reverse as quick as the tide. my foremost concern is I don't want to see this dealer to be penalized by PCGS for sending coins in on my behalf, that may be viewed as above the "economy" limit. ive had most of my collection graded in the past few years so obviously im doing something right as to my knowledge PCGS has had no problem with anything ive sent in, but the dealer kind of put it in my head that I need to figure out a better way to value what im sending in. and I should mention, most of my coins are valued in the $200-$800 range, ... once they are graded. some of them sent in three times to get the charm. so ... how do you guys do it ? do you value the coin per pcgs price guide as if it were graded or according to what a raw coin would be worth or ?
regardless of how many posts I have, I don't consider myself an "expert" at anything
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I have been wrong, on both the plus, and the negative, side, but overall, I haven't been far off.
So, having an idea of the grade, I have a clue to the value. Whether it is the price guide, trending auctions, etc, I have an idea of the value of the coin and what it would take to replace it.
I try NOT to play the "well.....it could be a $200 coin if they don't like it, but if they really like it, it is a $700 coin, but I will put it in economy at $300....just because" game.
So, I use the guide, at times, while at other times, I use what the real value is, if I were to need a replacement (ie...early copper)
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
First I apply the maximum declared value allowed for the service level to my most expensive coins and then spread the declared value for the remaining coins.
For example, say you are doing an economy submission that has a max value of $300 per coin and you are sending in 20 coins. 8 of those I paid $500 for and the other 12 I paid $100 for.
I apply the max $300 to those 8 so that's $2400 and leaves $2600 for the other 12. Divide $2600 by 12 = $216 and then use that for the other 12. That gives me the maximum $5,000 of coverage for the lot.
Even though I paid $100 and declare the value to be $216, that value is after they are graded and as an optimist I think the coins will be more valuable after they are graded.
I've never had any coins damaged or lost so I've never had to file a claim.
anyone from PCGS wanna chime in with your thoughts ?
When in doubt do the economy is what I would do. If they sense that you are trying to game the system by sneaking in regular tier coins under economy tier, they will let you know about it.
I joined the collectors club, so I don't answer to a dealer for my grading and valuation decisions
Me to and I value them at what they cost to replace with another like item.