Getting Gold Coins Certified - Coin Community Forum

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Author	Replies: 6 / Views: 1,100
shatsi Pillar of the Community United States 1541 Posts	Posted 05/05/2008 12:23 pm A client of my boss send him a bunch of gold coins $20, Indian heads etc. to sell. I don't even know all the gold coin types available. My boss wants my help to come up with the prices. He said he spoke with a dealer in NYC and they pay tops $810 per piece. So my boss thinks it'll be better to get them certified either by NGC or PCGS in order to get a better price. And then maybe sell them on ebay. I have no idea how to grade gold. And I've never submit anything to TPGs. How should I go about this? Please advice. Thank you. Report this Post to the Staff

1sikevo Pillar of the Community United States 1130 Posts	Posted 05/05/2008 12:46 pm You have to become a paid member (or go to a certified dealer) to submit to NGC or PCGS. Submitting may or may not increase the value. It depends on the date, condition and rarity. In some instances, the value may even decrease. You can also submit to ANACS and ICG. They don't require membership and they will grade problem coins (cleaned, damaged, etc). NGC and PCGS will return your problem coins ungraded/unslabbed (but will keep the fee). Report this Post to the Staff
shatsi Pillar of the Community United States 1541 Posts	Posted 05/05/2008 12:53 pm Thanks. I explained to him its best to show it to a dealer first to figure out which coins to grade since lower grades will lower the value. His argument is if it grades low he can still get $810 per piece from the dealer in Manhattan. I will explain to him about ANACS and see what he wants to do. I think he'll probably go with PCGS since those seem to go for higher prices on ebay. So does it have to submit under "Special Issues"? That's $40 per coin + $49.99 for the membership? Report this Post to the Staff
1sikevo Pillar of the Community United States 1130 Posts	Posted 05/05/2008 1:18 pm It's not just submission fees. Shipping, with insurance (both ways) adds to the total significantly. Sometimes, you don't recover that when you sell them, which would be a net loss in my book. Report this Post to the Staff
shatsi Pillar of the Community United States 1541 Posts	Posted 05/05/2008 2:24 pm I've tried explaining to him but he wants to go his way and I don't have a choice. Once he makes up his mind he's not going to change. Report this Post to the Staff
muckeye Rest in Peace Australia 661 Posts	Posted 05/06/2008 05:52 am It's an old saying, "fools and their money etc etc" I'd keep away from this decision. regards, Report this Post to the Staff
m9frank Pillar of the Community United States 628 Posts	Posted 05/07/2008 7:29 pm If you can't squirm out of this thankless job.... First check dates/mintmarks. Second check condition. If ay of the coins is better than common and looks uncleaned and uncirculated, send it to one of the top-tier TPGs. Send as many as you can at one time, save on shipping. Or...... offer them for sale here! Report this Post to the Staff
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