Cost of Grading to NGC

I just sent a raw 1916-D mercury dime to NGC to be graded. Never did this before but the costs have made me think never to do it again. The costs are as follows.
Had to join NGC (lowest tier)-------------$25.00
Handling fee on submissions------------- $10.00
Grading (12 to 14 days turnaround)----- $35.00
Return postage fees value of $1 to $2K--$30.00
Postage insurance and tracking---------- $23.40

Total cost to me $123.40
Hopefully this coin will grade at least a 10 or F12. PCGS would have cost $25 more. Now anyone can use this as an example. For the price I got it at it its worth it if it comes back as a 10 or 12. Had two others check it for counterfeit and possible details. Looks good.

 

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Valuable coins aren't cheap to have certified and graded. I live about 100 miles from NGC, so I used to hand-deliver my submissions and save the cost of shipping & insurance both ways. Unfortunately, they changed their policy to allow only dealers to hand-deliver their submissions.

I was able to make up for it a little by waiting to submit my coins at the FUN Show in Orlando. So, I only had to pay shipping and insurance one way. Registered Mail is always more expensive, but it is also the safest method. If you have a large show not too far from your home and NGC is present at that show, you can always submit your coins at the show. Also, was it really necessary to ask for 12-14 day turnaround?

Chris

 

OP, this is why you piggyback with those who already have NGC membership to save on some costs

 

Standard was the only thing open to me except express ($25 more). Economy only takes values to $300 and modern is only 1955 up. I have no coin shows near me and no dealers that submit.

 

This is why I don't waste my money paying these companies exorbitant fees to get coins graded.

 

I'll admit that it has been a while since I stopped submitting coins, and I've forgotten some of the requirements.

It's too bad that there aren't any big shows close to you or dealers in your area. Sometimes, I've seen people ask here if there is anyone in their area so they can piggyback their submissions. Maybe next time you can try that.

Chris

 

If it was a coin like the 16-D that is valuable and known to be altered and/or counterfeited, I bet you would!

You'd be foolish not to!

Chris

 

If you submit other coins it will be a bit lower but you've proven why I don't submit like you did.

 

Please post your results when it comes in.

 

guys, this guy is sending in a 1916D, a key date and highly counterfeited coin....it needs to be sent in to NGC, PCGS, ANACs, or ICG to determine if its real or fake. Not doing so is not a smart idea. Who wants to inherit or later down the line find out a coin they spent a lot of money on is a fake?

 

I have a registered letter from the seller quoting that if it came back counterfeit or w/details he would give me a full refund. I would be out my $124 dollars for grading. Two very good collector friends examined the coin and they were OK with it being able to grade. I just mailed it today but I think I will probably have a nervous breakdown waiting for it to get back to me. Anyway they will tell you the grade over the internet before you get it in the mail? I know you can check that status of your submission online. I usually don't buy anything over $100 that isn't graded.

 

@Thomas R Reynolds Yes on the NGC site you can track your submission and when they grade it, you can check the grade before it comes back to you.

 

Absolutely! If you're ever gonna sell, it has to be graded to get a decent price for it! No choice.

 

My NGC membership is at the Elite level and it saves me a lot of money every year compared to the basic tiers. More in savings than I pay for my membership.

These are not good value for submitting one coin, nor are they really intended to be.

 

When I was dealer, I could make money by getting raw coins graded and by cracking out coins that I thought were under graded. The fees have gone up a lot since I retired. Frankly I don’t want to mess with it, given the expense. The best advice for collectors is to buy the coin in the holder that you wanted in the first place. Don't count or cross-overs to get you to where you want to be.

Dealers, who handle a lot of coins, can make money by having their coins graded. If they send in a lot of coins, and have some ability to grade coins, the law of averages should put them ahead. Collectors, who send in a limited number of coins, are less likely to do well.

I only have faith in NGC and PCGS graded material and that is tempered by my grading observations. The other companies don’t have the market clout to make that much of a difference. You can believe in CAC if you want to, but blind faith in them is not wise. The service is not perfect, and you can get stuck if you pay too much of a premium for the sticker, or if the coin happens to be over graded. CAC has stickered some coins that didn’t make the grade.

 

Or you can join the ANA for $28 per year and get submissions to NGC along with the monthly ANA magazine.

 

There’s no point in submitting a single coin and then complaining about the costs. If you’re not even a member, you’ll obviously have to pay a membership fee too.

Pro tip: ICG currently has an offer, check out the “for sale” section... @Insider

 

It's only exorbitant because he did a single coin. This is why most people save up until they have at least 5 and really you'd ideally like 10 or more to spread the shipping costs over more coins.

 

NGC will release the grade once it's shipped, PCGS will release it when it gets to the shipping department and just needs to be boxed up and shipped out, ANACS releases it when it ships, and ICG I believe waits until it has actually shipped as well.

 

ANACS would have been much cheaper, and as long as it isn't uncirculated, it would be just as accepted.