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 Replies: 16 / Views: 2,674 |
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Valued Member
United States
219 Posts |
I just watched an auction, and a 2012-D Jefferson nickel graded by PCGS at MS-66FS sold for $6.00. How in the heck can anyone afford to send a nickel or penny in and have it graded, especially as a MS-66, and then expect to profit by selling it? In the same auction a 1977-S Red Lincoln graded as MS-67 sold for $11.00. I can understand the pricing a bit more on this one, but still...how can you possibly come out ahead of the TPG costs? Do they have an employee discount or something?....or am I just not understanding it yet as a newbie? BTW....if anyone wants to buy a roll of Gem 2012-D FS Jefferson's at $5.00 a coin let me know....  Staff edit - this last part sounded like a joke comment to me, reminding users of the Buy/Sell/Trade/Want List Rules just in case. |
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Pillar of the Community
United States
5825 Posts |
The most likely situation is that the submitter thought the coin would grade higher.
A second possibility is that the coin had some special personal meaning, but not likely if it was up for sale.
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Pillar of the Community
United States
7618 Posts |
Most likely, the person that consigned the coin to auction was not the person that originally had it stabbed.
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Pillar of the Community
United States
1000 Posts |
I'm sure someone will correct me if I'm wrong, but I believe I've read somewhere that PCGS and NGC have bulk discounts for dealers. I did a quick google search and found bulk submission mentions by both of these TPGs. PCGS page said you specify a minimum grade, and pay $12 per coin that make the grade and $5 that don't. There is also some discussion on other coin forums that is easily discoverable through a quick google search.
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Valued Member
United States
404 Posts |
If it's anything like getting cards graded, you get a discount if you are submitting hundreds of cards, I know ive gotten a good % discount for submissions of 300 cards
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Pillar of the Community
United States
1119 Posts |
dealers submit a bulk lot of coins. some will grade MS67 or higher and go for big money. there are always a few that don't make this grade and they don't go for big money. the money made on the higher graded coins usually will offset the loss by the lower graded coins.
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Pillar of the Community
United States
7510 Posts |
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Bedrock of the Community
United States
10284 Posts |
I just won a 2017 S Jefferson nickel "Birth Set" PCGS PR69DCAM First Strike for $10. shipped. I bet it cost that much to have it graded? It isn't the first time either that I wondered the same thing but hey .... I'll take em when I can. |
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Bedrock of the Community
 United States
12819 Posts |
Quote:
...the money made on the higher graded coins usually will offset the loss by the lower graded coins. This. Better to have a few dollars in your pocket/account than zero if you're going to liquidate the lower-graded coin anyway. |
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Pillar of the Community
Canada
5239 Posts |
It is also possible that someone wants all the coins in a set graded, for example for a registry set, and this one was auctioned because of an upgrade.
It is also possible, although nobody mentioned it, that it was not worth it at all. Perhaps someone sent it by mistake or for the wrong reasons. I believe that other threads in this forum suggest that any coin worth less than $100 is not worth grading. That is, your potential gain in reselling the graded coin vs. a raw one is less than the grading cost.
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Valued Member
 United States
219 Posts |
Moderator.....yes, last comment tongue in cheek. Thanks everyone for their thoughts but I still don't know how they justify it with certified mail, grading services, return mail, auction fees, etc. I haven't seen too many nickels other than 1950-D or SMS sell for over $10.00, no matter what the grade.
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Bedrock of the Community
United States
17884 Posts |
Quote:
but I still don't know how they justify it with certified mail, grading services, return mail, auction fees, etc. The dealer made a bulk submission that gave then a large discount on the submission fees. They got a few ultra high grades and a lot of slightly lower ones. The sale of the few ultra high grade paid for ALL the costs of the whole submission. So now thay have the rest of the submission with a per unit cost of ZERO or less. So ANYTHING they get net on the sale of the the rest of the submission is profit. |
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Bedrock of the Community
United States
19948 Posts |
It's not worth it, three scenarios exist:
1) Bulk dealer submission
2) Submitter thought it'd grade higher
3) Submitter didn't know what they were doing
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Bedrock of the Community
United States
20753 Posts |
At coin shows I see all the time coins in slabs that are valued at far less than what it could have costs to have them slabbed and graded. The thing to remember is that regardless of the coin, most dealers will always say things like "Of course it cost more, it is in a PCGS slab"
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Pillar of the Community
United States
1963 Posts |
Many scenarios.
1. A sentimental piece that someone wanted protected (I did that once)
2. What BadThad said.
3. Something that was worth a lot a long time ago but has lost value.
4. Had a free grade coupon(s) and didn't have another coin to send in.
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Pillar of the Community
United States
1119 Posts |
Quote:
I haven't seen too many nickels other than 1950-D or SMS sell for over $10.00, no matter what the grade. 1950D nicks are cheap in MS. find a 1939D in MS and it will be more than $10.00. plus the War Nickels are all going to be over $10 in nice MS. Everyone, and I do mean everyone, even non collectors saved the 1950D nicks they are quite common in MS and even nice FS examples are common and inexpensive |
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Replies: 16 / Views: 2,674 |
Posted 03/06/2017 8:56 pm
