Effective January 1, 2023 PCGS announces Collector Services & Fees

Goldbully · January 14, 2023 11:47AM

Just a quick look, and I see Express was $65 now $70, Regular was $38 now $40, and Variety attribution was $18 now $20.

What did I miss?

https://www.pcgs.com/servicesandfees

P0CKETCHANGE · January 14, 2023 11:54AM

Economy up $1
Reholder up $1/$7

jt88 · January 14, 2023 11:54AM

This is kind of expected because inflation is everywhere. Coin price will follow too

jt88 · January 14, 2023 11:56AM

I think the next is auction house increase the fee from 20% to 23% or even 25% soon

pruebas · January 14, 2023 12:05PM

Shipping will likely go up as well, but they do not state the shipping prices.

Didn't regular used to be $40 a few years ago and it was then lowered to $38?

Goldbully · January 14, 2023 12:06PM

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

20% is high IMO.

WCC · January 14, 2023 12:07PM

@jt88 said:
This is kind of expected because inflation is everywhere. Coin price will follow too

Not necessarily the coins most collectors or submitters own.

davewesen · January 14, 2023 12:15PM

economy is +1
varieties +2
now an economy error for $35

1madman · January 14, 2023 5:56PM

Show gold +5

Connecticoin · January 14, 2023 7:48PM

Yet the $300 limit for economy is the same as when I started submitting in 2004. The limits should go up in proportion to the fee increases - economy limit should be around $500 now.

erscolo · January 14, 2023 8:06PM

Small wonder I have never submitted a coin or anything else to a grading service.

jmlanzaf · January 14, 2023 8:10PM

@erscolo said:
Small wonder I have never submitted a coin or anything else to a grading service.

I think you're on the wrong forum.

winesteven · January 15, 2023 5:47AM

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

TurtleCat · January 15, 2023 5:50AM

I think the most negatively impacted areas will be bullion and low value submissions. Perhaps that is for the best?

winesteven · January 15, 2023 5:50AM

Another increase shown is the $2 Handling fee per order for having PCGS return coins using my FedEx Priority Overnight account will now be $4 (a 100% increase, lol).

Steve

jmlanzaf · January 15, 2023 6:26AM

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

ricko · January 15, 2023 6:41AM

Prices increasing everywhere... A dozen eggs now about four times the price it was a couple years ago. Cheers, RickO

winesteven · January 15, 2023 7:14AM

@jmlanzaf said:

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

But those same negotiations take place today, with the consignor usually getting more than 100% of the hammer. However, I admit that if they raise the bp, it could be EASIER for consignors to negotiate a larger increase over the hammer than they can get now.

oih82w8 · January 15, 2023 7:16AM

Just about everything continues to go up in price... except our wages. 😔

JimTyler · January 15, 2023 7:17AM

Collector club voucher limit $2500 ? Are they saying you can only use your freebies for joining on coins under $2500 ?

jmlanzaf · January 15, 2023 7:18AM

@winesteven said:

@jmlanzaf said:

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

But those same negotiations take place today, with the consignor usually getting more than 100% of the hammer. However, I admit that if they raise the bp, it could be EASIER for consignors to negotiate a larger increase over the hammer than they can get now.

I know. But the argument for the BP increases last time was for that very reason. So, it's not clear how the calculation changes for consignors. Of course it's not good for widget consignors, but I don't think any auction house is terribly efficient for moving widgets (including GC).

winesteven · January 15, 2023 7:21AM

@JimTyler said:
Collector club voucher limit $2500 ? Are they saying you can only use your freebies for joining on coins under $2500 ?

Yes, but it's been like this for awhile. This is not a current change.

Steve

JimTyler · January 15, 2023 7:22AM

@winesteven said:

@JimTyler said:
Collector club voucher limit $2500 ? Are they saying you can only use your freebies for joining on coins under $2500 ?

Yes, but it's been like this for awhile. This is not a current change.

Steve

Been a long time since I submitted coins.

291fifth · January 15, 2023 7:25AM

@oih82w8 said:
Just about everything continues to go up in price... except our wages. 😔

And this is going to cause a lot of problems in the near future when the average workers find themselves getting a 3% wage increase while the top executives get huge increases that far outpace inflation. Anger is building.

winesteven · January 15, 2023 7:31AM

@291fifth said:

@oih82w8 said:
Just about everything continues to go up in price... except our wages. 😔

And this is going to cause a lot of problems in the near future when the average workers find themselves getting a 3% wage increase while the top executives get huge increases that far outpace inflation. Anger is building.

OR, when the rank and file AND the top executives get similar moderate wage increases (as some responsible firms do), and they'll all be upset, like NOW, that prices are a lot higher than they were just two years ago!

The main issue is not disparity, but significant inflation that has been well under control for many decades, until two years ago.

mark_dak · January 15, 2023 7:54AM

@jmlanzaf said:

@erscolo said:
Small wonder I have never submitted a coin or anything else to a grading service.

I think you're on the wrong forum.

I'm not sure the poster clarified he or she has never owned a slabbed coin, just that they have never submitted. I have only sent a hand full in via my LCS. It is quite a confusing, expensive and long process for many average coin collectors to perform on their own.

Mark

jmlanzaf · January 15, 2023 8:02AM

@mark_dak said:

@jmlanzaf said:

@erscolo said:
Small wonder I have never submitted a coin or anything else to a grading service.

I think you're on the wrong forum.

I'm not sure the poster clarified he or she has never owned a slabbed coin, just that they have never submitted. I have only sent a hand full in via my LCS. It is quite a confusing, expensive and long process for many average coin collectors to perform on their own.

Mark

I know. But it seems a little odd to be on the PCGS forum criticizing all TPGs for their business model.

Walkerguy21D · January 15, 2023 9:02AM

The increases are pretty nominal, IMO. And on the bright side, maybe they will increase staffing and reduce the turnaround time.

RLSnapper · January 15, 2023 9:07AM

I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price. I have 4 vouchers to burn so it really doesn't matter. I just went through my paper form to edit one...the return shipping fees have gone up $5 across the board as well.I will be down grading my Gold Membership to a Regular Membership on my next renewal to even out the costs. I really don't have any coins waiting to be graded and if I should get 1 or 2 it will make up the extra costs with the Membership savings.

Walkerguy21D · January 15, 2023 12:00PM

** I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price**

Not sure when the new rates went into play, but I used the 2022 forms and rates at FUN on Jan 6 and the staff accepted them with no qualms or corrections.

1madman · January 15, 2023 12:06PM

@RLSnapper said:
I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price. I have 4 vouchers to burn so it really doesn't matter. I just went through my paper form to edit one...the return shipping fees have gone up $5 across the board as well.I will be down grading my Gold Membership to a Regular Membership on my next renewal to even out the costs. I really don't have any coins waiting to be graded and if I should get 1 or 2 it will make up the extra costs with the Membership savings.

Old forms are fine. The accounting staff will charge you accordingly for your submission no matter what the form price says.

Herb_T · January 15, 2023 12:44PM

If they would meet the advertised lead time I wouldn’t bitch….but they don’t and that is just BS!

DollarAfterDollar · January 15, 2023 1:04PM

None of it is warranted when the turn around time on your "service" is so lengthy.

krueger · January 18, 2023 9:53PM

what is guarantee resubmission ? is that the regrade service?

lilolme · January 18, 2023 10:12PM

@krueger said:
what is guarantee resubmission ? is that the regrade service?

.
https://www.pcgs.com/guarantee
.
And from the submission form pdf
.
• GUARANTEE RESUBMISSION: If you have a PCGS-graded coin that you feel is overgraded, misattributed, or counterfeit, submit the coin to PCGS through the Guarantee Resubmission Service. A fee of $25 per coin must accompany all submissions through this service (Standard or Gold Shield). If your coin is downgraded, the terms of the PCGS Guarantee will apply and all fees and charges related to the Guarantee Resubmission will berefunded.Additionalguaranteetermsandconditionsapply.PleasevisitPCGS.com/guaranteeformore information.

MS66 · January 19, 2023 2:10AM

The top TPGs have done a masterful job of providing a useful service and positioning themselves in the marketplace. The obvious next step is to raise rates.

They are inundated with submissions--witness the relentless complaining about turnaround times. Note I'm not saying the complaints aren't justified!

But given these conditions it's natural to increase the fees, even if such increases weren't otherwise justified. Note I'm not saying they aren't!

Certification results in greatly increased demand for the underlying product. So in that sense alone they really are adding value.

jmlanzaf · January 19, 2023 4:46AM

@MS66 said:
The top TPGs have done a masterful job of providing a useful service and positioning themselves in the marketplace. The obvious next step is to raise rates.

They are inundated with submissions--witness the relentless complaining about turnaround times. Note I'm not saying the complaints aren't justified!

But given these conditions it's natural to increase the fees, even if such increases weren't otherwise justified. Note I'm not saying they aren't!

Certification results in greatly increased demand for the underlying product. So in that sense alone they really are adding value.

I love the services. However, increased demand may increase value, but that value increase needs to match the cost. There are very few $100 coins that will increase 40% in value just by being slabbed.

DisneyFan · January 19, 2023 5:40AM

@Walkerguy21D said:
** I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price**

Sorry to ask - does PCGS have on-line forms?

DisneyFan · January 19, 2023 5:43AM

@291fifth said:

And this is going to cause a lot of problems in the near future when the average workers find themselves getting a 3% wage increase while the top executives get huge increases that far outpace inflation. Anger is building.

Sad; but, a lot of that excess compensation is from stock options.

Walkerguy21D · January 19, 2023 5:59AM

@DisneyFan said:

@Walkerguy21D said:
** I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price**

Sorry to ask - does PCGS have on-line forms?

They may very well, but as a member they send me a stack every year, along with the required flips to use.
The official forms have the original cover form plus three copies in different colors. How they replicate that system online I don’t know.

Goldbully · January 19, 2023 6:06AM

@DisneyFan said:

Sorry to ask - does PCGS have on-line forms?

>
Yes.

https://www.pcgs.com/onlinesubmission

logger7 · January 19, 2023 6:20AM

I'd have to think that the value of a submission would have to be pretty high to warrant a submission. For a "regular" submission what is the minimum the coin should be worth to warrant that? Also would you send in an economy coin if it were worth under $100?

Jimnight · January 19, 2023 6:32AM

There is only one reason everything is going up!

DisneyFan · January 19, 2023 7:08AM

@Goldbully said:

@DisneyFan said:

Sorry to ask - does PCGS have on-line forms?

>
Yes.

https://www.pcgs.com/onlinesubmission

Thank you - good to know.

It will be nice when they expand it to include more of the categories as they state:

Important Note

The service levels listed below require a PDF Submission Form and are not currently available on the online submission center.

Bulk
Quarterly Special
Mint Error
Show Services
Guarantee Resubmission
Mechanical Error
Reconsideration
World Reholder
Banknotes

LanceNewmanOCC · January 19, 2023 8:52AM

to confirm, Errors only need be submitted under that tier, not error AND grading, correct?

the $70 kinda seems like a grading+attribution fee kidna thing.

Walkerguy21D · January 19, 2023 9:38AM

@logger7 said:
I'd have to think that the value of a submission would have to be pretty high to warrant a submission. For a "regular" submission what is the minimum the coin should be worth to warrant that? Also would you send in an economy coin if it were worth under $100?

You’d think so, but look at all the trinkets that you see in TPG holders. The lowest value for even an economy submission I’ve done was still over $200.
But of course one man’s trinket is another man’s treasure…..and perhaps they had higher but unrealistic aspirations too.

GoBust · January 19, 2023 4:50PM

Overall reasonable given the economy and circumstances with inflation. I wonder if they might add a category of lower value coins with guarenteed 60 or 90 day grading?

HillbillyCollector · January 19, 2023 5:38PM

@winesteven said:

@jmlanzaf said:

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

But those same negotiations take place today, with the consignor usually getting more than 100% of the hammer. However, I admit that if they raise the bp, it could be EASIER for consignors to negotiate a larger increase over the hammer than they can get now.

Relating to this, I have only sold coins through Stacks whereas I received a percentage of the SP. How are the other auction houses to work with on this issue and who do you think is the easiest to ‘wheel and deal’?
HB

jmlanzaf · January 19, 2023 5:40PM

@HillbillyCollector said:

@winesteven said:

@jmlanzaf said:

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

But those same negotiations take place today, with the consignor usually getting more than 100% of the hammer. However, I admit that if they raise the bp, it could be EASIER for consignors to negotiate a larger increase over the hammer than they can get now.

Relating to this, I have only sold coins through Stacks whereas I received a percentage of the SP. How are the other auction houses to work with on this issue and who do you think is the easiest to ‘wheel and deal’?
HB

Depends on what you have. Ifv you have quality, any of them will negotiate.

MrEureka · January 19, 2023 6:10PM

@Connecticoin said:
Yet the $300 limit for economy is the same as when I started submitting in 2004. The limits should go up in proportion to the fee increases - economy limit should be around $500 now.

It's called bracket creep. Worked well for the IRS for a long, long time. Not so much for taxpayers.

Effective January 1, 2023 PCGS announces Collector Services & Fees

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