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 Replies: 22 / Views: 4,847 |
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Pillar of the Community
United States
1375 Posts |
I know what the forms say for getting a coin graded, but I also know that there are numerous graded coins that can be bought for less than the fee indicated on the grading form.
I guess this is because they were graded in bulk (most of the "cheap" coins seem to be modern issues) and the grading fee is significantly reduced?
I know that some dealers offer a flat fee to have a coin graded for you and many times this fee is cheaper than submitting it yourself, especially when you add in the shipping and handling fees (even if you spread these fees out over several coins). So, the TPGs must offer a total volume discount as well?
Just what is the true cost of getting a coin graded by any of the big three?
Anyone know?
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Bedrock of the Community
United States
94367 Posts |
Depends on several factors, the most important of which is how quickly you want an opinion.  Edited by Coinfrog
10/13/2017 7:32 pm
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Moderator
 United States
15475 Posts |
I have a lot of experience with PCGS ... so please understand my reply is limited to that experience and not necessarily applicable to any other TPG. I submit lower value coins ... less than $300 ... and use the 'economy' rate at $20 per coin. Grades expected back in 25-40 days using the 'economy' rate. When I gather 5-8 coins for submission ... the average cost considering the required $10 handling fee and return shipping ... is about $26 per coin. Hope that helps David Take a look at my other hobby ... http://www.jk-dk.artEdited by nickelsearcher
10/13/2017 7:52 pm
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Rest in Peace
United States
17900 Posts |
Submit minimum of 13 coins in NGC economy under $300 value with postage and fees both ways = $23 or so.
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Pillar of the Community
 United States
1375 Posts |
Thanks guys, but I understand what it would (and has) cost me to submit coins as an individual collector.
What I'm wondering about is how much it costs one of the volume submitters. It has to be significantly less, otherwise how can they sell/auction graded examples of new issues for less, the same or slightly more than the Mint issue price.
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Pillar of the Community
United States
992 Posts |
Bulk grading is indeed less in price, and postage costs per unit are reduced when more items are submitted in a given package.
But, you are correct, some graded coins or notes can be had for less than the cost of grading and the purchase price of a raw item. I think it's a case of the dealer wanting some cash flow, getting slow material out of stock, admitting that having some things graded was a mistake, and even 'loss leaders' that got you in the shop or the website.
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Bedrock of the Community
United States
10982 Posts |
Big dogs who submit thousands of coins per year are around $10 per coin for moderns anyway. They sell the 70s for a nice profit and dump the 69s, sometimes below "cost" with the 70s making up the difference and turning them a profit. As always this just my 2 cents worth.
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Bedrock of the Community
13014 Posts |
The top grades are what makes them the money.
As far as the rate they pay, there is no set answer for that. The truly big dogs negotiate their own rates which can include exclusive labels, free first strike ect. The floor for pricing is probably somewhere between 6-8 dollars where it just wouldn't be worth their time to go much lower
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Moderator
United States
23522 Posts |
Keep in mind you're not always buying the item from the original submitter. If you're the third or fourth owner of something which has been sold at a slight loss each time, you've just gotten a slabbed coin for pretty cheap. And don't think that bulk pricing is only for Modern issues. If you have a hundred Indian cents to submit, you can attract bulk pricing, too. |
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Pillar of the Community
United States
5854 Posts |
If you look at the 2017 10K for Collectors Universe which owns PCGS, it says the average per coin grading fee was $14.92 and the range was from $1 to $10250. That is not a typo that you are seeing; someone was able to get coins graded for $1 each. They also state in their risk factors that just the top 5 customers, not 5%, account for 18% of revenues. So someone is absolutely getting a volume discount.
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Bedrock of the Community
13014 Posts |
Quote:
That is not a typo that you are seeing; someone was able to get coins graded for $1 each. Those are the slabbed things without a true grade. Basically the we took it out of the mint packaging and put it in plastic for you service. |
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Pillar of the Community
United States
5854 Posts |
Quote:
Those are the slabbed things without a true grade. Basically the we took it out of the mint packaging and put it in plastic for you service. That makes sense. Between fy2006 and fy2013, the minimum they charged per coin was $5. Before that, it was about $8 and after that it has been dropping to the current $1. |
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Pillar of the Community
 United States
4593 Posts |
Back to the OP - having a dealer submit your coin(s) for you won't qualify for bulk grading, as there is a minimum number of the same coin required for the bulk submission.
-----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/ |
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Bedrock of the Community
13014 Posts |
Quote:
That makes sense. Between fy2006 and fy2013, the minimum they charged per coin was $5. Before that, it was about $8 and after that it has been dropping to the current $1. That timeline seems to coincide pretty well with when the BU/Uncirculated ect slabs started to become more prevalent. |
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Valued Member
United States
97 Posts |
I've heard of modern coins being done for $7-$8 by the "big" wholesalers. Now If I heard $7, you can bet someone is paying $6.
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Valued Member
United States
55 Posts |
This thread actually answered the question I had, regarding the costs. I'm constantly seeing graded coins being sold for less than it would even cost me to grade the coin, much less buy the coin itself.
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Replies: 22 / Views: 4,847 |
Posted 10/13/2017 7:51 pm
