Are Pcgs authorized dealers required to take submissions from the public ?

lunytune2 · March 3, 2011 5:07AM

Calling around to have some coins submitted and a dealer on the Pcgs list says he does not submit coins besides his own . I thought this was the idea of "THE LIST"

Schmitz7 · March 3, 2011 5:12AM

I have found most will NOT submit coins for you. The reason they always give me is that their company insurance policy does not allow them to take on the liability of having customers coins on site with the possibility of loss or theft.

pmac · March 3, 2011 5:20AM

Not knowing the answer, FWIW, why would a dealer become "authorized" if not to submit customers' coins? If they only want to submit their own coins, why not join as a 'silver' member of the Collector Club? There are dealers here that could give us good reasons.

kranky · March 3, 2011 5:24AM

Somewhere I got the impression they were required to handle submissions from the public, but I don't remember where I heard that. But I'm sure someone who knows for sure will be along shortly.

Res · March 3, 2011 5:24AM

<< Not knowing the answer, FWIW, why would a dealer become "authorized" if not to submit customers' coins? If they only want to submit their own coins, why not join as a 'silver' member of the Collector Club? There are dealers here that could give us good reasons. >>

Maybe for bulk subs? I'm not sure about this though, just a WAG

coinguy1 · March 3, 2011 5:26AM

<< Not knowing the answer, FWIW, why would a dealer become "authorized" if not to submit customers' coins? If they only want to submit their own coins, why not join as a 'silver' member of the Collector Club? There are dealers here that could give us good reasons. >>

Some dealers might want to be "authorized", simply so that they can submit their own coins for grading (and at discounted rates) and/or have their name listed as such.

I don't think there is a fee for that and it can amount to free advertising, of sorts. My guess is that authorized dealers are supposed to submit coins for those who request it.

FredWeinberg · March 3, 2011 5:44AM

Originally, PCGS authorized dealers happily
accepted submissions from the public; it
gave them a great opportunity to purchase
the coins when they came back to the
dealers address, and the client came in to
pick 'em up.

With Ebay, the Internet, the Collectors Club,
there are less people who want to have
a dealer submit coins for them - and those
who do, most of them want their coins back
to sell themselves in the numerous venues
we have now, that didn't exist 20-25 years ago.

Also, as mentioned, not only do dealers want
to avoid liability (stolen packages, accusations
of switching coins, etc.), it just doesn't pay,
in most cases, to spend the time to accept,
process, receive back, contact customer, etc.

That's just my view - I don't have a coin shop,
but I know that most dealers around here will not
accept submissions from the general public
unless they are a VERY good customer.

Most tell the public to join the PCGS Collectors Club.

I know many of you will make the argument that
it's a good way of 'sourcing coins', and maybe that's
true sometimes, but in general, it's alot of time for
no compensation, and little chance to buy the coins
when they are returned........

LindeDad · March 3, 2011 6:18AM

It only costs $49.00 to join the Collectors club at the Silver level plus about $10.00 for for a pack of "Saflips" from Wizzard and you doing it yourself.
I would dought if any dealer could price the job for less than that plus the cost of shipping and grading.

lunytune2 · March 5, 2011 4:07AM

Thanks to forum member/dealer Pat Vetter my coins will be on their way to PCGS on Monday !
Thanks again
Tony

nutmeg · March 5, 2011 4:45AM

The coin store where I shop will submit to PCGS for a $50 fee per coin.

magikbilly · March 5, 2011 7:32AM

<< The coin store where I shop will submit to PCGS for a $50 fee per coin. >>

hmmmm..

Eric

Fairlaneman · March 5, 2011 9:23AM

<< The coin store where I shop will submit to PCGS for a $50 fee per coin. >>

If that is a flat fee they charge for every service level I believe they are breaking PCGS rules if they are a authorized dealer.

I also believe authorized PCGS dealers are suppose to look a persons submission over and if it is within reason submit the coins. If they just refuse they are breaking the rules PCGS has set out for authorized dealer status.

Ken

magikbilly · March 5, 2011 10:06AM

<< 

<< The coin store where I shop will submit to PCGS for a $50 fee per coin. >>

If that is a flat fee they charge for every service level I believe they are breaking PCGS rules if they are a authorized dealer.

I also believe authorized PCGS dealers are suppose to look a persons submission over and if it is within reason submit the coins. If they just refuse they are breaking the rules PCGS has set out for authorized dealer status.

Ken >>

That is what I was thinking. It doesn't sound right.

Eric

nutmeg · March 5, 2011 11:38PM

<< 

<< The coin store where I shop will submit to PCGS for a $50 fee per coin. >>

If that is a flat fee they charge for every service level I believe they are breaking PCGS rules if they are a authorized dealer.

Ken >>

The fifty dollars is the store fee. I believe you still pay all the PCGS fees.

jdimmick · March 5, 2011 11:42PM

I submit on behalf of my customers regularly.

InternetJunky · March 6, 2011 12:21AM

Nope they are not at all. When I first started collecting the only coin shop in my area is a PCGS Authorized Dealer. I had purchased coins from them in the past and went in there to see if they would submit any for me. They simply stated they do not but only do it for themselves. I asked Mr. Willis about this back in August 2009 and he had said "Steve, I beleive he is a PCGS dealer that does not want to accept submissions. We are working on a way of dealing with this that works for both the dealer and collector."

timcoin · March 6, 2011 12:59AM

That might be to cover shipping to and from PCGS. Seems reasonable to me.

PTVETTER · March 6, 2011 1:09AM

I encourage costomers to become members and submit thier own coins for the following reason:

I do not want to be accused of swiching coins.

But If I know the person and they still want to submmit coins I will.

They all know the fee and shipping and handling is on the host web site for all to see.

I do screen coins to be sent in but with some of the grades I have recieved I am questioning myself at times.

pitboss · March 6, 2011 1:17AM

Coin collecting has changed dramatically since I first started. Grading was by your eye and you bought them at Woolworths 5 & 10 cent store in those cases that would revolve when you touched a button, ( a modern marvel at the time)

lunytune2 · March 6, 2011 2:21AM

In my case it is so infrequent that I submit coins I would rather someone who submits all the time do it . I was a member for a year and realize all the costs of shipping ,insuring submitting and the dealer needs to make a buck off of it to , it is only fair . I don't deal with Pat a whole lot (because of distance) but we know each other and for him doing this I will now go out of my way to come see him because of his customer service .

DonWillis · March 6, 2011 2:46AM

PCGS dealers are not required to submit for the public. However if they don't accept submissions from the public they should not be promoted as such on our website. This only creates bad feelings and disappointment.

If you know of a PCGS dealer who will not accept submissions and they are listed on our site please PM me with their information.

Edited to add: Of course a dealer does potential submitters a big favor by advising them when it is not worth sending coins in for grading. Pre-screening submissions is a great service.

RYK · March 6, 2011 2:48AM

There is no way that PCGS could require dealers to take submission, but they certainly could encourage them to do so.

In the course of my collecting career, I have done about half of my submissions on my own, and half via a dealer. It really depends a lot on the circumstances.

coindeuce · March 6, 2011 2:53AM

I try to counsel my customers to be pragmatic about TPG submissions. There is a point relevant to every coin when risk/reward trumps vanity. Common sense prevails.

Greeniejr · March 6, 2011 3:07AM

We have saved clients many thousands of dollars over the last few years pre-screening shipments for people and rejecting a large number of coins because they are either not worth submitting or wold not reach their grading expectation. If sending coins in makes sense to our client we will gladly do it. If it is a cleaned circ Morgan (which get asked about sending in once a week) we will not send it in under any circumstance (yes if it is a key or a variety it is different).

Are Pcgs authorized dealers required to take submissions from the public ?

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