When submitting coins to PCGS for grading, what happens when...

Coin Finder · December 1, 2009 3:26AM

You use economy but 1 of the 5 coins is worth a little over the $300.00 limit? Do they grade it anyway?

coolest · December 1, 2009 3:29AM

Yes, but you wonder if they might restrict the grade.

Russ · December 1, 2009 3:30AM

It's up to you to note the value on the submission form. If you put $300, yes, they'll grade it. There is a little leeway as long as we don't abuse it.

Russ, NCNE

MORGANHUNTER2 · December 1, 2009 3:39AM

I wonder what would happen if you sent in say 20 and out of the 20 12 were valued well above the 300 limit. its not like you know exactly what the graders will do, will PCGS at least give you a jingle and let you know that there might be a slight increase in fee due to the value of the 12 coins?

Would anyone be willing to pay the difference of the 14/18 fees to a $30.00 fee?

I know I would if I missed the mark by a point or 2..

PTVETTER · December 1, 2009 4:07AM

I'd be happy to pay the higher price for the higher grade,

In fact can I pay in advance for higher grades!

coinguy1 · December 1, 2009 4:15AM

<< <i>Yes, but you wonder if they might restrict the grade. >>

Based on what I have heard from numerous submitters, I don't think it will restrict the grade. But, if a submitter frequently lists insurance values which end up being considerably too low, he will probably be charged the price of a higher tier. When I was still at NGC, one submitter submitted a number of Proof gold coins via the economy tier. And I'm not talking about modern proof gold coins!

LindeDad · December 1, 2009 4:37AM

There used to be a story about David Hall paying the insurance on a understated coin or submission or something like that IIRC.

relicsncoins · December 1, 2009 4:44AM

What happens when they ship the coin back? Let's say you list the value at $300 and it grades higher than expected, and at this new grade it's worth $1000. Do they insure it at your stated value or at the graded value?

bushmaster8 · December 1, 2009 4:49AM

<< <i>What happens when they ship the coin back? Let's say you list the value at $300 and it grades higher than expected, and at this new grade it's worth $1000. Do they insure it at your stated value or at the graded value? >>

I insured a 1953-S Franklin for $100. It graded FBL (worth $20K+) but they returned it to me with only the declared $100 insured value.

19Lyds · December 1, 2009 4:59AM

<< <i>It's up to you to note the value on the submission form. If you put $300, yes, they'll grade it. There is a little leeway as long as we don't abuse it.

Russ, NCNE >>

Damn!

I keep forgetting about the pricing limitations with economy!

But then, I really don't know what they will actually grade the coin and that could have a HUGE bearing on the price of the coin.

For example, if I submit a 1970-S Kennedy which I think is PR69DCAM (otherwise why submit it right?), do I put that price estimate in ($500) when I know they'll more than likely grade it PR67CAM ($32)?

Answer: Not me. I'll just put in the $300 which is what I think I did on my last submission.

Now if I continually submit coins which grade to my expectations that exceed the $300 limit, I'll probably get a call.

mozin · December 1, 2009 5:58AM

If PCGS is willing to give me a little higher grade, I will be happy to pay up from Economy to Regular fee.

When submitting coins to PCGS for grading, what happens when...

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