Can anyone fill me in on how much the NGC Dealer Bulk rate costs? I saw a post saying $6-8 a couple years back. If anyone knows the current rates please PM or reply. thanks!!
http://www.ngccoin.com/services/services.asp (the link does not indicate bulk rates) So I might suggest: 1.800.NGC.COIN Good luck...Mike
mike thanks for the reply. i'm already a member of ngc but their dealer bulk prices are only available to dealers. i guess they don't want to regular public to feel cheated. obviously they're getting it sub $10 else how could these dealers be selling slabbed national parks quarters for $7-8 when lowest public rate for Elite is $12.60 with the 10% Elite discount. and not to mention ms69 silver eagles for $42-45... if you know any dealer friends who know the rate let me know, thanks... i'd like to find the price to slab a couple monster boxes and keep the 70's and sell off the 69's but no way to find dealer rate unless you become a dealer.
I would make friends with a dealer then, or offer to pay him for his trouble and send them in under his account. If you wish to send this many coins in you can afford to make it worth a dealer's hassle to help you. Chris
Does anyone know if the dealer bulk rate is also applicable for the China Panda coins from 2007 and 2008? Thanks.
When I spoke with them a couple days ago, the minimum submission is 100 coins and then you pay something like $25 per coin if it grades a 70 and $7 if it grades a 69. The bulk submission guys can give you more details. He told me that it might not make much of a difference in the long run, and that for coins that tend to grade 70s you can end up paying more under the bulk program compared to the regular program.
Not to rant, (ok maybe a little), but is anyone else bothered that they charge more for a higher grade than a lower one? I mean, the premise was supposed to be you paid for grading, and that fee did not influence the graders opinions. Now, you have a direct monetary impact of the grades to the fees received. Fo you really feel there is no conflict of interest to "make sure" a minimum percentage of those monster boxes get 70's regardless of their true condition? Man, and I thought I hated TPG before.......
ok thanks, I didn't realize the 70 grade was so expensive. although it does guarantee a certain profit margin which helps eliminate risk. i see the W's grade about 45% MS70 and 55% MS69 so it would be better going with the consumer rate. But the the bullion is only a 10-15% MS70 rate so that would make sense paying the dealer rate.
I don't have any trouble paying when I am making money. They have a similar scale with bulk Morgan dollars; $7 or $8 for MS63, something like $12 for MS65, etc.. I don't mind paying reasonable fees where I am being benefitted if I get an end product that is worth the extra money. Or if I lose money in the process, it helps to know why they would not give it a numerical grade. A lot better than in the days of body-bagging. They still do that with fake and "altered surfaces" coins.
But don't you find it an incredible conflict of interest? To tie the amount charged for grading to the grade assigned? This is the same conflict of interest that led to sky high property appraisals in the housing market, to overly optimistic bond ratings being given to mortgage backed securities, etc. I would liken it to giving teachers $100 bonus for every A they give out to their students. Gee, guess what would happen to the GPA of every single class? I bet you that if collectible coins were a regulated market the regulators would forbid this practice. Just another point as to WHY coins cannot be treated as investments. Chris
Yes when I first found out along time ago I thought there was a conflict of interest. But if the price was closer then it is today I could always justify it that they are insuring those coins and their grades so a higher does cost them more.
My problem with this is your "END" product is the same coin you had in the beginning. So the way you are looking at it the plastic is the end product and I like coins not slabs
It's similar to paying for a "Walkthrough" and possibly getting a better grade, and in that case the increased fee is whopping. There is some kind of "insurance" connected to the grade, at least theoretically. If they coin is overgraded or turns a bad color in the holder you can theoretically present it to them for a refund, so if the coin is worth more, the guarantee is worth more, the grading fee is worth more...theoretically. I thought of walking up to a customer service person at one of the grading companies and offering a C-note if they could do their best to get me a good grade on a high value coin...What do you suppose the reaction would be? "What kind of a girl do you take me for? I would never do that for less than $500!" And some argue there is "honest" graft and "dishonest" graft, if you caught the "60 Minutes" segment Sunday on how it is legal for members of Congress to do insider trading. http://www.panarchy.org/plunkitt/graft.1905.html
PCGS won't let you request higher than a 69 for bulk submissions I don't think its a conflict of interest. Dealers run a business. Just like any business people will pay a higher amount to reduce risk. If you pay a lower fee for lower grades, and a higher fee for higher grades, you guarantee your profit margins. The % of 70's that come out of a TPG determines its status. If it runs itself down it lowers the value of those 70's. So in the market if you start geting 50% of bullion SAEs grading NGC 70 straight out of the roll then you'll see ebay prices just like Anacs and ICG where they sell for 69 prices. because the market will be flooded with them. Its in NGC and PCGS best interest to issue a token amount of 70's but not to flood the market. of course PCGS won't let you request a 70 and their 2010 and 2011 SAE pops have exploded from 0 pop on early SAE to tens of thousands of modern SAE 70's.
I followed up today and they told me that about 70% are grading 70s, so you actually do better by just doing the regular submission and not the bulk submission for the ASE Anniversary sets. A couple people suggested that NGC is thereby given an incentive to grade higher, but I think you need to remember that they would have to pay out on their guarantee if they slab a 70 that will later prove to be a 69, 68 or even lower. Just my two cents and a follow up...
wow really 70% are hitting 70's? thats pretty sweet... i just sent in some sets. i wonder if just certain coins are hitting 70's, obviously the bullion are going to be lower quality and the RP higher....
