PCGS Grade Pricing - Is It Even Worth It For Certain Coins?

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Author	Replies: 5 / Views: 2,897
DougInPA New Member United States 4 Posts	Posted 11/21/2016 3:22 pm As I am looking into PCGS membership, since you apparently must be a member in order to submit coins for grading, I am wondering if I am missing something with regards to the costs of grading. Why in the world would anyone submit a coin for grading that is a more modern (standard) coin if the coin has a value of less than $30 or so? Since the PCGS cost to grade such a coin is $16 (plus a $10 handling fee), plus shipping - and that does not even account for working in the cost of membership itself. I have seen coins on ebay that are PCGS graded selling for less than it seems it would have cost just to get it graded? I'm looking to get my more valuable coins graded, but just wondering why there are 2009 Lincoln Cents out there for example that were PCGS graded to begin with when the cost does not seem to justify the value - am I missing something? Sorry for the newbie questions. Just trying to learn and make sense of it all. :-) Thanks! Report this Post to the Staff

moxking Rest in Peace United States 17900 Posts	Posted 11/21/2016 3:37 pm Many dealers will submit large numbers of the same coins hoping that a few of them will make the top of the population census. They sell those that don't make top pop for whatever they can get, sell the top pops for big money, and if they judged the coins they sent in with a good eye, are still able to make a profit. I use NGC rather than PCGS and I don't submit coins of less than an expected $200 value. Report this Post to the Staff
oriole Pillar of the Community Canada 5240 Posts	Posted 11/21/2016 5:08 pm People also submit low value coins for grading for other reasons, such as: 1. They want all their collection in the same format (such a type collection graded by the same company) 2. They want a registry set (graded coins are shown on the grading company website and it becomes a friendly competition of sorts) of certain coins, some of which are inexpensive. An example of this is a "low-ball" set (coins with an extremely low grade), which are often low value as well. If you wonder why someone would want a very worn coin, it is just one of crazy games we coin collectors do to have fun. Report this Post to the Staff
DougInPA New Member United States 4 Posts	Posted 11/22/2016 12:03 pm Makes sense from a dealer perspective I suppose. I definitely see the perspective of wanting their entire collection to be all in the same format. That is actual the goal I am aiming for with my Morgan silver dollars. On a separate note, I'm going to check out NGC as well and decide which one to go with. I only looked into PCGS thus far since a few of my MSD's are already PCGS graded MS-64's (but 3 are the old green labels and 2 are the old blue labels - so they may be worth resubmitting anyway). Thanks all. Report this Post to the Staff
BStrauss3 Pillar of the Community United States 4591 Posts	Posted 11/22/2016 1:16 pm If you are an ANA member, you can request a free submitter number from NGC - saves the club membership fee. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ Report this Post to the Staff
D0ubl3Eagle Pillar of the Community United States 5854 Posts	Posted 11/22/2016 11:22 pm If you are a frequent and/or high volume submitter, you can often get a discount from the rates published on their websites. PCGS parent company, Collectors Universe, has mentioned in their most recent 10k filing that they have graded coins for as low as $2 each. Report this Post to the Staff
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