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 Replies: 27 / Views: 4,138 |
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Valued Member
440 Posts |
Sent mine out today. A gem 1995 cent DDO & 1876 Shield nickel. Do this every year. |
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Valued Member
 United States
70 Posts |
So I submitted my coins almost 2 weeks ago to ANACS for grading, very excited to see the results. I realize that all the grading services take at least a couple weeks so I'm not expecting mine back yet, but I was wondering if anyone who submitted their coins back in June have received them back yet. I'm also wondering, since ANACS is I believe the oldest & original 3rd party grading service, why does anyone bother with PCGS? Looking at their regular prices I see ANACS is much more reasonable - downright cheap - compared to PCGS, and yet the majority of graded coins I've seen on ebay and at shows lately have been PCGS. Does anyone know the reason for the discrepancy? |
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Pillar of the Community
United States
7375 Posts |
Should have mine in a couple of days. Shipped Friday supposedly.
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Valued Member
United States
258 Posts |
Oh darn I wish I would have seen this earlier, I would have loved to use this free offer!  |
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Pillar of the Community
United States
5211 Posts |
I got my 2 back the other day. Thanks ANACS  I think they got the one on the left wrong. I knew it would come back as details because of the giant roller wheel mark scratch on the obverse so I can only guess that they checked the wrong box for cleaned instead of scratched.  Edited by jack jeckel
07/23/2014 7:13 pm
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Valued Member
United States
70 Posts |
Whoa nice! Cleaned is a bad grade - if it wasn't cleaned I'd contact them and tell them to re-grade it on their dime
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Valued Member
United States
78 Posts |
i just wanted to bump this thread and say I cracked out my 2 coins that were submitted (1891 Morgan dollar - CC and and 1843 Seated Liberty half dollar) and they came back the exact same grade as PCGS. I think I just found a little more faith in ANACS's grading capability. |
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Valued Member
United States
70 Posts |
Wow, a bold move Indianaman79! But that's the only way to test them I suppose. I'm still waiting to get mine back, been a while.
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Pillar of the Community
United States
5211 Posts |
Quote:
I think I just found a little more faith in ANACS's grading capability. |
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Pillar of the Community
United States
1211 Posts |
Got my 2 free grades at my doorstep yesterday. Both came back higher grades than expected and both problem free. How often does that happen, huh?
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Pillar of the Community
968 Posts |
Quote:
keetoowah;
I don't know this for sure, but this is my theory on why there are so many PCGS modern mint coins floating about: I would imagine PCGS gets a bunch of coins from the mint and just puts them out into the market graded. This is self-marketing; it advertises their name and their service and ensures that there are tons of PCGS coins to go around. Neither PCGS nor NGC do this as far as I know. Most of these come from bulk subs from dealers. Quote:
If they're not doing it themselves, then I would think the bigger companies are paying them in bulk to take the first several thousand coins that roll off the mint and slap those "First Strike" stickers on them. This is basically what happens, big dealers and companies are sending in coins that they purchase (not necessarily the first ones) for grading under the bulk submission program. Quote:Because you're right, PCGS charges $30 per coin for grading PLUS shipping and expenses. It makes no sense for any individual collector to pay $30+ to have a coin graded and then sell it on ebay for $12. And there are an awful lot of PCGS graded 2014 cents, nickles and dimes going for $12. That's not correct. Bulk submission through PCGS on Moderns runs around $8 a coin, IIRC. Shipping costs per coin are negligible when you factor in thousands of coins are being shipped back and forth. The reason you see so many common moderns on ebay for $10-$14 is because that is approximately their break-even cost. They break even or lose a few cents on those, and make their money on the higher grade material. |
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Valued Member
United States
70 Posts |
Hi chasingtailbar; thanks for clearing that up!
As I said those were just my theories, I didn't know for sure. I guess I was wrong about the first but correct about the second, that dealers submit in bulk. What I didn't do was follow that theory to your conclusion on pricing; namely the bulk discounts.
That certainly explains a lot! I have seen them take some losses on modern coins, I myself picked up a 1976S PR69 Jefferson for $4. But this was from a 99 cent auction of a major dealer with a thousand coins listed at any given time and for every cheap deal like that I'm sure they have 2 others that are profitable.
Good to know!
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Replies: 27 / Views: 4,138 |
First Page
Posted 07/20/2014 3:54 pm
