PCGS Services Update - Great News from Don Willis...
llafoe
Posts: 7,220 ✭✭
Great News from Don Willis... 
"I would like to take this opportunity to thank you for your continued support of PCGS. PCGS Collector Club members continue to be a valuable part of our business.
I have a brief update regarding PCGS services and a couple submission form changes.
As most of you know, we introduced a new submission form at the beginning of the year which combined the previous four (!) forms into one. The response to this change has been very positive. Unfortunately, we were not able to produce the new submission forms in time to specifically provide for the new oversized holders that PCGS is now using to encapsulate the America The Beautiful 5 oz. commemorative coins.
We now have a new submission form that addresses the oversized holders. There are a couple of policy changes to accompany that change.
First, ATB coins no longer have to be submitted under the Regular service and can now be submitted under the Modern service (that’s a savings of $16). Of course you can submit the coins at a higher service level if you need a quicker turnaround or simply choose to do so.
Second, PCGS is beginning to encapsulate Medals in the new oversized holders. We have already encapsulated certain medals in the oversized holders. We plan to replace the Photo Certificate service that we have previously used for some medals and coins with the Oversized Holder service. If you have questions about a specific coin or medal please contact PCGS Customer Service.
Third, any submission requiring an oversized holder will require the payment of an oversized holder fee of $20 per coin. We are compelled to add this fee due to much higher material costs as well as increased labor costs associated with the handling of these larger coins.
These new services and rates will be effective for all submissions received beginning May 1, 2011.
We are excited about the introduction of the new oversized holders. We believe they offer an attractive package to display your coins and medals and we hope to expand our offerings in this area as we go forward.
On completely different note, PCGS is a strong supporter of the Industry Council for Tangible Assets (ICTA) as are most major coin dealers. ICTA is a national organization whose sole purpose is to advise and assist the coin hobby regarding governmental regulations. ICTA provides extensive ongoing lobbying efforts to help us influence new laws and regulations or changes to existing laws. A recent success has been the repeal of the 1099 law that was to go into effect next year. ICTA worked diligently with various officials in helping to make that happen. ICTA is also very involved in the fight against Chinese counterfeits.
The new PCGS submission form offers you a chance to help support ICTA. In the FEE CALCULATION area you can select to make a contribution of 25¢ per coin on your submission that will be donated directly to ICTA. Your contribution will be included in your total payment. This is completely voluntary, but we encourage you to support ICTA just as we do.
Best wishes,
Don Willis
President, PCGS"
"I would like to take this opportunity to thank you for your continued support of PCGS. PCGS Collector Club members continue to be a valuable part of our business.
I have a brief update regarding PCGS services and a couple submission form changes.
As most of you know, we introduced a new submission form at the beginning of the year which combined the previous four (!) forms into one. The response to this change has been very positive. Unfortunately, we were not able to produce the new submission forms in time to specifically provide for the new oversized holders that PCGS is now using to encapsulate the America The Beautiful 5 oz. commemorative coins.
We now have a new submission form that addresses the oversized holders. There are a couple of policy changes to accompany that change.
First, ATB coins no longer have to be submitted under the Regular service and can now be submitted under the Modern service (that’s a savings of $16). Of course you can submit the coins at a higher service level if you need a quicker turnaround or simply choose to do so.
Second, PCGS is beginning to encapsulate Medals in the new oversized holders. We have already encapsulated certain medals in the oversized holders. We plan to replace the Photo Certificate service that we have previously used for some medals and coins with the Oversized Holder service. If you have questions about a specific coin or medal please contact PCGS Customer Service.
Third, any submission requiring an oversized holder will require the payment of an oversized holder fee of $20 per coin. We are compelled to add this fee due to much higher material costs as well as increased labor costs associated with the handling of these larger coins.
These new services and rates will be effective for all submissions received beginning May 1, 2011.
We are excited about the introduction of the new oversized holders. We believe they offer an attractive package to display your coins and medals and we hope to expand our offerings in this area as we go forward.
On completely different note, PCGS is a strong supporter of the Industry Council for Tangible Assets (ICTA) as are most major coin dealers. ICTA is a national organization whose sole purpose is to advise and assist the coin hobby regarding governmental regulations. ICTA provides extensive ongoing lobbying efforts to help us influence new laws and regulations or changes to existing laws. A recent success has been the repeal of the 1099 law that was to go into effect next year. ICTA worked diligently with various officials in helping to make that happen. ICTA is also very involved in the fight against Chinese counterfeits.
The new PCGS submission form offers you a chance to help support ICTA. In the FEE CALCULATION area you can select to make a contribution of 25¢ per coin on your submission that will be donated directly to ICTA. Your contribution will be included in your total payment. This is completely voluntary, but we encourage you to support ICTA just as we do.
Best wishes,
Don Willis
President, PCGS"
WANTED: Cincinnati Reds TEAM Cards
0
Comments
Is there a plan to reduce the cost after they recoup any "setup" fees?
ATB coins used to cost $30 to grade, now they'll be $16 PLUS a $20 oversized holder fee.
How does this help me?
<< <i>Great News? Unless I'm mistaken, it may depend on what you're having graded.
ATB coins used to cost $30 to grade, now they'll be $16 PLUS a $20 oversized holder fee.
How does this help me? >>
Modern is $14, plus $20 for the holder = $34, compared to the old rate of $30.....
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<< <i>
<< <i>Great News? Unless I'm mistaken, it may depend on what you're having graded.
ATB coins used to cost $30 to grade, now they'll be $16 PLUS a $20 oversized holder fee.
How does this help me? >>
Modern is $14, plus $20 for the holder = $34, compared to the old rate of $30..... >>
Minor typo on my part. So, this "helps" me by lightening my wallet an extra $4 per ATB coin
<< <i>Great News? Unless I'm mistaken, it may depend on what you're having graded.
ATB coins used to cost $30 to grade, now they'll be $16 PLUS a $20 oversized holder fee.
How does this help me? >>
If you're a shareholder, it's great news
Is PCGS accepting vintage medals for grading? Such as Presidential Inaugurals or Medalic Arts Medals?
What about other coins/medals whatever that has been too big for their holders?
It could be a new ball game for many areas
Experience the World through Numismatics...it's more than you can imagine.
I hope that they come back and the clear things up, that the ATB will only pay the 16 dollar fee and the additional 20 bucks is for any other coin...
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<< <i>Great News? Unless I'm mistaken, it may depend on what you're having graded.
ATB coins used to cost $30 to grade, now they'll be $16 PLUS a $20 oversized holder fee.
How does this help me? >>
Modern is $14, plus $20 for the holder = $34, compared to the old rate of $30..... >>
Minor typo on my part. So, this "helps" me by lightening my wallet an extra $4 per ATB coin >>
Wow! Kinda reminds me of when eBay lowered their fee's!
The name is LEE!
it's confusing to talk about $16 savings in one line and then mention a $20 fee in another.
So, are ATB submitters saving $16 or paying $4 more?
an ATB grading fee of express @ $50 + $20 oversize holder fee might mean I stop submitting them.
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<< <i>
<< <i>
<< <i>Great News? Unless I'm mistaken, it may depend on what you're having graded.
ATB coins used to cost $30 to grade, now they'll be $16 PLUS a $20 oversized holder fee.
How does this help me? >>
Modern is $14, plus $20 for the holder = $34, compared to the old rate of $30..... >>
Minor typo on my part. So, this "helps" me by lightening my wallet an extra $4 per ATB coin >>
Wow! Kinda reminds me of when eBay lowered their fee's!
Zactly
<< <i>Unbelievable, are you kidding me? The wonderful new is that we save 14 bucks on one end but then pay an extra 20 on the other? Are they serious? Only in America someone would call that great news... Wao I did not realize that plastic was so expensive, I doubt there is $20.00 worth of additional plastic on the slabs.
I hope that they come back and the clear things up, that the ATB will only pay the 16 dollar fee and the additional 20 bucks is for any other coin... >>
Acrylic is a petroleum based product... With the cost for Gasoline at $5 & Heating Oil at $4 a gallon I bet all Grading services are seeing increased holder material costs.
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<< <i>Unbelievable, are you kidding me? The wonderful new is that we save 14 bucks on one end but then pay an extra 20 on the other? Are they serious? Only in America someone would call that great news... Wao I did not realize that plastic was so expensive, I doubt there is $20.00 worth of additional plastic on the slabs.
I hope that they come back and the clear things up, that the ATB will only pay the 16 dollar fee and the additional 20 bucks is for any other coin... >>
Acrylic is a petroleum based product... With the cost for Gasoline at $5 & Heating Oil at $4 a gallon I bet all Grading services are seeing increased holder material costs. >>
Of course you are going along with it, there are no gigantic errors
just wait till the next round of good news...
<< <i>I'm with the rest?
it's confusing to talk about $16 savings in one line and then mention a $20 fee in another.
So, are ATB submitters saving $16 or paying $4 more?
an ATB grading fee of express @ $50 + $20 oversize holder fee might mean I stop submitting them. >>
Thats exactly what you're looking at buddy! Regardless of submission level, it's gonna be an extra $20 to get the ATB 5 oz silver slugs graded.
Of course, you could save yourself $180 if you submitted them under the modern tier and that, my friend, is a significant savings!
The name is LEE!
<< <i>Great News from Don Willis...
<< <i>We are compelled to add this fee due to much higher material costs as well as increased labor costs associated with the handling of these larger coins. >>
Srsly.
The $20 each oversized slab fee for a set of pucks is $100. Reason = Material costs?
Handling 3" diameter coins costs more?
Defies credulity.
I'm still debating whether my latest batch of BU Morgans should go Economy or Regular.
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<< <i>I'm with the rest?
it's confusing to talk about $16 savings in one line and then mention a $20 fee in another.
So, are ATB submitters saving $16 or paying $4 more?
an ATB grading fee of express @ $50 + $20 oversize holder fee might mean I stop submitting them. >>
Thats exactly what you're looking at buddy! Regardless of submission level, it's gonna be an extra $20 to get the ATB 5 oz silver slugs graded.
Of course, you could save yourself $180 if you submitted them under the modern tier and that, my friend, is a significant savings! >>
No, my friend it isn't, it appears to be 20.00 more per set plus 30 days longer to get them back!----------BigE
With silver prices headed to the moon, there's a zillion orders being submitted from all corners of the globe.
I hear ANACS is cheaper if you want to go that route but if you want to drink champagne? It costs a bit more these days on the big stuff.
Remember, no change in pricing on any tier using regular holders.
Good Friday to ya!
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<< <i>Great News from Don Willis...
We are compelled to add this fee due to much higher material costs as well as increased labor costs associated with the handling of these larger coins. >>
Srsly.
The $20 each oversized slab fee for a set of pucks is $100. Reason = Material costs?
Handling 3" diameter coins costs more?
Defies credulity. >>
handling 70s seems like it would cost more.
<< <i>
<< <i>
<< <i>I'm with the rest?
it's confusing to talk about $16 savings in one line and then mention a $20 fee in another.
So, are ATB submitters saving $16 or paying $4 more?
an ATB grading fee of express @ $50 + $20 oversize holder fee might mean I stop submitting them. >>
Thats exactly what you're looking at buddy! Regardless of submission level, it's gonna be an extra $20 to get the ATB 5 oz silver slugs graded.
Of course, you could save yourself $180 if you submitted them under the modern tier and that, my friend, is a significant savings! >>
No, my friend it isn't, it appears to be 20.00 more per set plus 30 days longer to get them back!----------BigE >>
I had been using the express service level.
So it's $100 more per set.
<< <i>
<< <i>Unbelievable, are you kidding me? The wonderful new is that we save 14 bucks on one end but then pay an extra 20 on the other? Are they serious? Only in America someone would call that great news... Wao I did not realize that plastic was so expensive, I doubt there is $20.00 worth of additional plastic on the slabs.
I hope that they come back and the clear things up, that the ATB will only pay the 16 dollar fee and the additional 20 bucks is for any other coin... >>
Acrylic is a petroleum based product... With the cost for Gasoline at $5 & Heating Oil at $4 a gallon I bet all Grading services are seeing increased holder material costs. >>
They probably can get them for a few bucks a pop.
Oil didn't go up four fold or more recently. All of a sudden they need $20 they didn't need before?
$4 a coin sucks, and isn't good news, particular with a slower turnaround, but it also isn't the end of the world. If you can't afford a $4 increase on a coin that is 5 ounces ($230+ of silver right now), then it may be best to just flip them raw or keep them raw. Will a true collector care about that time and $4 cost per coin? To me, these things are more flippable than keepable, and I have not sent ANY in for grading (first 3 sets were sold unopened). Sure, I probably left a bit of money on the table if I could have gotten some killer grades and flipped them for more, but I didn't feel like tying up $30+$18 per coin (x5 coins per set) + shipping both ways.
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
<< <i>Well, the minor plus side, since I believe someone in the monster thread had mentioned that PCGS told them they were increasing the larger holder fees, is that they don't make you stay with the regular service level AND increase the fees.
$4 a coin sucks, and isn't good news, particular with a slower turnaround, but it also isn't the end of the world. If you can't afford a $4 increase on a coin that is 5 ounces ($230+ of silver right now), then it may be best to just flip them raw or keep them raw. Will a true collector care about that time and $4 cost per coin? To me, these things are more flippable than keepable, and I have not sent ANY in for grading (first 3 sets were sold unopened). Sure, I probably left a bit of money on the table if I could have gotten some killer grades and flipped them for more, but I didn't feel like tying up $30+$18 per coin (x5 coins per set) + shipping both ways. >>
I do not think that i have as much objection to the increase, as I do have with the email making it seem like they where helping anyone but themselves. I guess greed does affect all levels, first the Authorized sellers and now PCGS capitalizing. Again Unreal...
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<< <i>
<< <i>Unbelievable, are you kidding me? The wonderful new is that we save 14 bucks on one end but then pay an extra 20 on the other? Are they serious? Only in America someone would call that great news... Wao I did not realize that plastic was so expensive, I doubt there is $20.00 worth of additional plastic on the slabs.
I hope that they come back and the clear things up, that the ATB will only pay the 16 dollar fee and the additional 20 bucks is for any other coin... >>
Acrylic is a petroleum based product... With the cost for Gasoline at $5 & Heating Oil at $4 a gallon I bet all Grading services are seeing increased holder material costs. >>
They probably can get them for a few bucks a pop.
Oil didn't go up four fold or more recently. All of a sudden they need $20 they didn't need before? >>
They probably just ate the higher costs at first. He never said that the entire $20 was material costs. It costs more to handle them as well. I would guess that the reject rate at the slab supplier is higher due to more breakage and blemishes. Don't forget that the mint had/has a lot more troubles with making the ATBs than they do with ASEs.
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<< <i>I'm with the rest?
it's confusing to talk about $16 savings in one line and then mention a $20 fee in another.
So, are ATB submitters saving $16 or paying $4 more?
an ATB grading fee of express @ $50 + $20 oversize holder fee might mean I stop submitting them. >>
Thats exactly what you're looking at buddy! Regardless of submission level, it's gonna be an extra $20 to get the ATB 5 oz silver slugs graded.
Of course, you could save yourself $180 if you submitted them under the modern tier and that, my friend, is a significant savings! >>
No, my friend it isn't, it appears to be 20.00 more per set plus 30 days longer to get them back!----------BigE >>
I had been using the express service level.
So it's $100 more per set. >>
OK Maybe I missed something.
Currently MsMorrisine is sending in 5 coins at $50 per coin for a 5 day turnaround using Express. That equals $258.
Under the new plan, it would be 5 coins at $50 per coin plus $20 for each coins oversized slab on a 5 day turnaround for a total of $358.
My suggestion was 5 coins at $14 a coin plus $20 for each oversized slab on the Modern Tier with a 30 DAY turnaround. This equals $178 or a $180 savings from what he will have to pay.
However, the biggie with paying less for submission costs is a doubling of the wait time. 15 Business Days vs 30 Business Days can make or break any potential resale value since 15 Business Days - 3 Weeks.
The name is LEE!
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
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<< <i>Do we then add $18 pe rcoin for "First Strike"? >>
Yeah, it's an "additional service."
My question is....oversized holders are an "additional service." Typically vouchers don't cover additional services. It isn't explained anywhere if vouchers will cover oversized holders...my assumption is no. Therefore, if I'm holding 8 vouchers would I add $160 to my fees if my ATBs arrive after May 1st?
Does PCGS accept phonecalls on Saturday? I need to figure this out and get my stuff in before May 1st if needbe.
Just how big are these coins?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>We are compelled to add this fee due to much higher material costs as well as increased labor costs associated with the handling of these larger coins.
Just how big are these coins?
Leo
Evidently they are big enough to require a $16 fee increase per coin to achieve the same level of service that we had previously.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>maybe PCGS is trying to help everyone back to their senses by increasing the cost. man, even the guys who collects these things call them pucks or the acronym ATB so they come across as laughable to me and others. at best they are almost not serious to perveyors of mainstream Numismatics. not to downplay their collectibility to so many and certainly we should all collect what we enjoy, but why get all whipped up in a frothy frenzy over this?? >>
I think the issue was this:
" First, ATB coins no longer have to be submitted under the Regular service and can now be submitted under the Modern service (that’s a savings of $16)."
followed by:
"Third, any submission requiring an oversized holder will require the payment of an oversized holder fee of $20 per coin."
"Savings" = a $4 increase
Eliminating the savings comment would have been a better approach
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<< <i>I'm with the rest?
it's confusing to talk about $16 savings in one line and then mention a $20 fee in another.
So, are ATB submitters saving $16 or paying $4 more?
an ATB grading fee of express @ $50 + $20 oversize holder fee might mean I stop submitting them. >>
Thats exactly what you're looking at buddy! Regardless of submission level, it's gonna be an extra $20 to get the ATB 5 oz silver slugs graded.
Of course, you could save yourself $180 if you submitted them under the modern tier and that, my friend, is a significant savings! >>
No, my friend it isn't, it appears to be 20.00 more per set plus 30 days longer to get them back!----------BigE >>
I had been using the express service level.
So it's $100 more per set. >>
OK Maybe I missed something.
Currently MsMorrisine is sending in 5 coins at $50 per coin for a 5 day turnaround using Express. That equals $258.
Under the new plan, it would be 5 coins at $50 per coin plus $20 for each coins oversized slab on a 5 day turnaround for a total of $358.
My suggestion was 5 coins at $14 a coin plus $20 for each oversized slab on the Modern Tier with a 30 DAY turnaround. This equals $178 or a $180 savings from what he will have to pay.
However, the biggie with paying less for submission costs is a doubling of the wait time. 15 Business Days vs 30 Business Days can make or break any potential resale value since 15 Business Days - 3 Weeks. >>
I don't always use express. Some commem and ASE orders I just run them through modern or regular.
Otherwise I use express, and it's not always for resale. I just prefer express.
This is going to change that. I'll either use the cheapest level or not grade. I guess I'll use the cheapest level.
As I said, one way to ensure I use the cheapest grading level is to add a $20 fee to the grading of that item.
But it is an apples to oranges comparison to say the increase is only $4 when the same level of service is not being obtained for that money.
And I don't understand why there wasn't a $20 fee all along. Where did this come from? Previous cost estimates were computed incorrectly?? Someone notice NGC has a special holder fee?
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<< <i>Do we then add $18 pe rcoin for "First Strike"? >>
Yeah, it's an "additional service."
My question is....oversized holders are an "additional service." Typically vouchers don't cover additional services. It isn't explained anywhere if vouchers will cover oversized holders...my assumption is no. Therefore, if I'm holding 8 vouchers would I add $160 to my fees if my ATBs arrive after May 1st?
Does PCGS accept phonecalls on Saturday? I need to figure this out and get my stuff in before May 1st if needbe. >>
Grading Vouchers are good for, and treated like, "Regular" 15 day $30 submissions.
If you submit (with a valid postmark) your coins along with the vouchers "before" May 1st, you do not have to pay the $20 per coin oversized slab fee regardless of when they actually grade the coins. If the postmark on your package is May 1st or later, then you do.
The name is LEE!
The more significant development, however, is holdering of other medals in oversize holders. This may be the first step toward them grading SCDs and HTTs, which I would think would be bigger news than establishing the most effective price point for plastic puck protection. Did anyone else get this feeling?
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
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<< <i>Unbelievable, are you kidding me? The wonderful new is that we save 14 bucks on one end but then pay an extra 20 on the other? Are they serious? Only in America someone would call that great news... Wao I did not realize that plastic was so expensive, I doubt there is $20.00 worth of additional plastic on the slabs.
I hope that they come back and the clear things up, that the ATB will only pay the 16 dollar fee and the additional 20 bucks is for any other coin... >>
Acrylic is a petroleum based product... With the cost for Gasoline at $5 & Heating Oil at $4 a gallon I bet all Grading services are seeing increased holder material costs. >>
...well now, i guess we could just thank--------------------------------------never mind.
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<< <i>
<< <i>Do we then add $18 pe rcoin for "First Strike"? >>
Yeah, it's an "additional service."
My question is....oversized holders are an "additional service." Typically vouchers don't cover additional services. It isn't explained anywhere if vouchers will cover oversized holders...my assumption is no. Therefore, if I'm holding 8 vouchers would I add $160 to my fees if my ATBs arrive after May 1st?
Does PCGS accept phonecalls on Saturday? I need to figure this out and get my stuff in before May 1st if needbe. >>
Grading Vouchers are good for, and treated like, "Regular" 15 day $30 submissions.
If you submit (with a valid postmark) your coins along with the vouchers "before" May 1st, you do not have to pay the $20 per coin oversized slab fee regardless of when they actually grade the coins. If the postmark on your package is May 1st or later, then you do. >>
In other words, they just devalued the 8-coin voucher I just received for my new collector club membership and was going to use for my ATBs once they arrive.
Grading Costs Now: $199 club membership + ($18x8) FS fee = $343
After May 1st: $199 club membership + ($18x8) FS fee + ($20x8) Oversize Slab fee = $503
That's a $160 screwing over for the same level of service!