NGC Submission Help

Not sure if this fits in US coins, but oh well.

Hope you all had a great weekend! The cold is coming quickly here in Ohio... Anyway, I'm submitting five Morgan dollars to NGC but the process is very unclear. Could someone who has done this before give me some steps to follow exactly to make sure I don't do anything stupid with them?

Also, I have just enough money to get the economy service for all five of them, but I have two PL, two toners, and a toned DMPL, all worth more than $300 each (the economy service value limit is 300). Should I save money and go for economy, or is there a benefit to paying more for the standard service? Thank you!

 

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You dont have a choice, you have to use the higher proper service level if they are over the value. Its one thing if its worth like 305 instead of 300 but when you know its over and maybe even way over NGC is just going to charge you for the higher level once they're graded anyways.

As far as submitting all you have to do is put the coins in a plastic flip, fill out the forum and send it off and then wait a very long time lol

 

Do I put all five forms in the box? There's three copies of the submission form and some other things, obviously I have to include the disclosure stuff and agreements. I'll probably just include it all to be safe.

 

Are NGC turnarounds still really bad? Sent off a few coins a couple weeks ago and they processed the submission as "received" pretty quickly but it's been silence since then. Figured it couldn't be worse than earlier this year...


Don't forget to label each plastic flip with the lines on the form. I usually fold the flips, put a rubber band around them, then wrap the coins in the submission forms. You also need to tape every seam of your box with brown tape.

 

It makes no difference submitting if you do that or not.

You only have to do that for registered mail.

 

Any Issues... Any questions about submission.... CALL!! they are very good and very responsive to your questions/phone calls. It's is one of the reasons i prefer NGC to pcgs

 

That's good to know! Thanks for all the help everyone

 

The price tiers based on coin value have always bothered me. Is it more difficult to grade and slab a $1000 coin than it is to grade and slab a $100 coin?

The service provided and effort is the same ...... Why is the price different?

 

Every TPG has issues, so I would take that with a grain of salt, if you wish to maximize value I would submit to PCGS there slabs always go for more money
thats not my opinion its a undeniable fact.

 

Interesting!

 

@mikenoodle

I borrowed some of his content from another post, so maybe he can chime in on the subject, he has been around this forum for a long time and has a webcast on coins
so see him as an expert

It really makes you wonder why people would send there coins anywhere
else but PCGS ? and yes you can put NGC in there as well as far as grading
goes.

Now if you really want to lose money, go ahead and send in to IGC or
ANACS, I have nothing against them but as far as values go you get
significantly less for these holders with a similar coin and grade.

 

I'll give you 4 very good reasons.
1. ICG is the most "accurate" of the tpg's haveing won more grading competitions then any of the others. (they also offer a discount to CT Members but that's not a reason lol)
2. ANACs the oldest of the TPGs and the ONLY tpg that certifies all Morgan VAMs and CONECA listed Varities.
3. NGC 2nd only to anacs in variety certification 2nd to PCGS in resale premium. and the present "official" tpg of the ANA
4. Turn around times... PCGS generaly takes longer (generaly twice as long) then any of the other services (unless you pay out the arse for walk-thru service)

I've used all 4 and short of "resale value" I can see No reason to send a coin to PCGS as a collector... but then to me my collection has never been considered an "investment" it's not for sale and I don't give a rats patooty how much my kids get for them when I'm dead. I collect for my own enjoyment and no other reason But to each their own.

 

Thats just false. Nothing more needs to be said for that

ANACS is the oldest in name only, they have been bought and sold numerous times and moved across the country

NGC doesnt guarantee its attributions.

True at times, but so is the inverse. It just depends what you are submitting and when.

Use whatever service you want, but there were just several factual inaccuracies in your list

 

You couldn't have painted his sister's name on the towns water tower and gotten a quicker response than painting PCGS on it.

 

Collector or investor, you always want to maximize value of your submission especially on high value coins, I have been in the TPG game on both currency
and coin for over 25 years, I think if you take a look around you see way more
coins being certified by PCGS , and the reason is pretty clear just more $$$$
on the resale side, even though ICG and ANACS have been around along time
I see only a handful of ICG out there like a trickle....LOL, and ANACS isnt much better, there used primarily for the late night coin shows, that should tell you
something right off the bat...

I will never see any dollars from my collection, as its all for the grandkids but
I do want to make smart decisions on what I invest in, my coin bullion coin
of choice is the krugerrand, trying to find keys dates that match up with
birthdays anniversaries, graduation etc, very challenging, not from a money standpoint but from an availability one, some years are just impossible !
om the flip side I collect both $20 liberties and Saints, I bet you cant guess
who's done all the grading....LOL

 

The main reason is that the TPG guarantees the grade (and therein the value) of the coin. If the TPG makes a mistake grading (valuing) the coin, they have to honor a guarantee for the grade that they assigned. IOW, the grading is actually worth more on the more valuable coin. As a higher value insurance policy would be.

Higher value coins involve more risk, therefore higher price to grade

 

What is meant by "Honor a guarantee for the grade"? Surely the TPGs do not put themselves in a position where they are obligated to purchase collector's coins. Or do they?

I agree that grading adds more value for expensive coins than for cheap ones. This would be the case even if a flat percentage could be applied across the board (and it's more extreme than that).

But this type of thing should not factor into an evaluation of the service being provided. Waxing a $1M car adds more value than waxing a $100 car....... should the cost of wax be scaled to the value of our cars?

 

I get that theres a baseline cost they cant really go below, but realistically they overcharge for the lowest tier and undercharge for the highest tiers

Getting a 1 million dollar car waxed will absolutely cost you more than a normal car.