Should PCGS increase the Max Coin Value of the lowest tier (Economy) coins for submission?

oih82w8 · May 16, 2018 12:23PM

I was filling out the on-line submission for my next batch of crossover/raw (crackout) coins and noticed that half of my coins going in were just a skosh over the Economy Max Coin Value of $300. However, nowhere near the Regular level ($3,000) and was thinking that the lowest tier coins (Economy) Max Coin Value should be increased to $1,000. The $3,000 (Regular) , $20K (Express), $100K (Walk Through) and Rarities seem to be ok, although I have never owned a coin of that value. The bean counters would probably interject and state that they would lose money on submission fees, when they may just gain money by opening that window just a bit.

What do you think?

GRANDAM · May 16, 2018 12:30PM

Yes, works for me.

koynekwest · May 16, 2018 12:31PM

Absolutely.

toyz4geo · May 16, 2018 12:32PM

IMO, any increase would be a plus. I too could se submissions increasing with an increase of that value setting.

Yacorie1 · May 16, 2018 12:39PM

Just submit them all economy with a note that says you won’t know the value until they grade them

clarkbar04 · May 16, 2018 12:41PM

Play dumb and submit them econ anyway.

Kkathyl · May 16, 2018 12:51PM

is the value based on the PCGS price guide or by what the market will actually pay?

RogerB · May 16, 2018 12:58PM

It is a for-profit business. What you you think?

oih82w8 · May 16, 2018 12:59PM

@Kkathyl said:
is the value based on the PCGS price guide or by what the market will actually pay?

I have used PCGS listed values when available, if not, especially varieties, I normally add 25%.

asheland · May 16, 2018 1:24PM

$300 can certainly be tough as it's hardly worth grading many coins under that.
I like the $1,000 number for economy.

Paradisefound · May 16, 2018 1:35PM

Here we are trying to "out-fox" them while in infact the big FOX is "listening" to our conversation

@Yacorie1 said:
Just submit them all economy with a note that says you won’t know the value until they grade them

@clarkbar04 said:
Play dumb and submit them econ anyway.

Paradisefound · May 16, 2018 1:36PM

I think it's a good idea

@oih82w8 said:
I was filling out the on-line submission for my next batch of crossover/raw (crackout) coins and noticed that half of my coins going in were just a skosh over the Economy Max Coin Value of $300. However, nowhere near the Regular level ($3,000) and was thinking that the lowest tier coins (Economy) Max Coin Value should be increased to $1,000. The $3,000 (Regular) , $20K (Express), $100K (Walk Through) and Rarities seem to be ok, although I have never owned a coin of that value. The bean counters would probably interject and state that they would lose money on submission fees, when they may just gain money by opening that window just a bit.

What do you think?

ModCrewman · May 16, 2018 2:12PM

From my understanding the value on the submission form is only applicable to how much insurance you want to have on the coins while they are in PCGS's possession. Unless they are obviously over that value regardless of the grade, as long as you're comfortable only insuring it for $300, you may submit them under the Economy tier. I've made coins with values in excess of $5,000 using the Economy tier without any change in the grading fee.

That being said, I wouldn't be opposed to a change in the max value...but you'd likely have to expect an increase in fees to cover the increased insurance cost to PCGS.

BryceM · May 16, 2018 2:20PM

As a publicly traded company, what they should do is whatever maximizes profits. Providing additional or expanded services at a lower price only works if it draws in enough added volume to offset loses. Not likely a winner in this case. There's a reason the bar is set at a point that it's only marginally worthwhile to submit coins at the economy level. For even a $500 coin, few people have an issue paying full freight for their services. What other option is there really? Sell it raw for $250 or get it graded and sell it for $500. No brainer.

Thinking like a business person.... not a collector, sorry.

logger7 · May 16, 2018 2:24PM

I've had coins come back on economy tier worth $700 or so; they told me it was basically an honor system, up to the submitter. I have heard NGC bumping up the fees on unexpected grades, but not too often.

BlindedByEgo · May 16, 2018 9:19PM

I think it would have a minor effect on their profitability and makes sense given the gap to Regular tier value.

jtlee321 · May 16, 2018 9:41PM

It also affects the amount of insurance on the return postage. So if you do have a valuable coin and it get's underinsured and then lost, then you know where you stand. Although, it's not normally an issue as they typically ship via USPS Registered Mail, so far less likely to disappear than standard mail.

CoinZip · May 16, 2018 9:44PM

just my 2 cents but I would think the value would be what the guarantee would cover?

jt88 · May 16, 2018 10:04PM

I go for the 1K. I like that idea.

oih82w8 · May 17, 2018 11:34AM

Another thing to add is that the fee should not go up with the expansion of the Economy Tier to $1,000 Max Coin Value.

keets · May 17, 2018 12:13PM

like Modcrewman said, if you have a coin valued at over $300 you can just insure it at that level, be cheap and risk the loss. on the other hand, you can insure it at the proper level, pay a little more money and get the coin back quicker. that's probably the prudent thing to do since it equates to spending about $20 to protect from $300 and up in value