Grading Question For A Rookie - Coin Community Forum

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Author	Replies: 4 / Views: 1,210
Stephen-P Valued Member Japan 294 Posts	Posted 01/13/2020 12:02 pm Hey everyone. I have a question regarding the grading costs attributed to rare coins. I'll use this as an example: Say I have a 1922 satin proof Peace dollar that I submit as just a business strike due to ignorance. I know that when the submitter claims it to be a variety, it will be handed over to specialists of said variety and it costs a lot more. But if it is submitted as only a business strike, would it only become labeled as such? On the other hand, if that coin was submitted as the proof version, but wasn't determined as such by the grading service, would they still charge you based on what you "thought" the FMV (fair market value) of the coin was when submitted? With conservation, I guess the NGC website says it'll charge 5% of the FMV of the coin for cleaning/grading. ($50,000fmv = $2,500+ submission fee for one coin. Is this correct?) Could someone really lose that much money by submitting the wrong information, or would the service adjust the grading fee according to the coin's final determined status? I plan on registering soon and would really like to know. Thank you and God bless. Report this Post to the Staff

basebal21 Bedrock of the Community 13014 Posts	Posted 01/13/2020 2:09 pm Quote: But if it is submitted as only a business strike, would it only become labeled as such? No, regardless of what you put it'll get the type that it is. That may also include an upcharge if your value was way low. Quote: On the other hand, if that coin was submitted as the proof version, but wasn't determined as such by the grading service, would they still charge you based on what you "thought" the FMV (fair market value) of the coin was when submitted? Yes. Whatever tier you pick is the minimum charge. The tier will never get downgraded by them because they also involve how fast something gets done and people use higher tiers than necessary all the time to get things back quicker. The only thing that possibly would happen is an upcharge if you were way low though with the different TPGs some are much quicker for the upcharge than others. Report this Post to the Staff
Stephen-P Valued Member Japan 294 Posts	Posted 01/13/2020 8:48 pm Basebal21 thank you so much for the comment. So, regarding a questionable coin: Is it best to just submit it as "normal" and not some special variety, in hopes of getting upcharged if it does possess a special variety? If the system is indeed this way, I don't see the point of risking the loss of much money if it doesn't receive a profitable designation, if they'll just upcharge it anyway if it does receive one. That seems like the smartest way. Am I correct in that assessment? Thanks again Report this Post to the Staff
Lancek Valued Member United States 442 Posts	Posted 01/13/2020 10:18 pm What makes you think your coin need to be conserved rather than just graded? Cloudy fields? Unattractive toning? Tape or other sticky residue? Some pics might be helpful. And I believe the conservation percentage is 4% and the grading fee is separate. Based on the values you are talking about you could use the $100k tier at $150 per coin. Report this Post to the Staff
basebal21 Bedrock of the Community 13014 Posts	Posted 01/14/2020 10:07 pm Quote: Is it best to just submit it as "normal" and not some special variety, in hopes of getting upcharged if it does possess a special variety? In all honesty the best way is to get a better idea. These special things like that where you would have to jump a couple tiers are usually fairly identifiable. Generally if you aren't sure it won't be so yea going with the normal tier would be better. That said you should choose what you honestly think it is. If you really think it's a special one do that tier, if you're hoping to hit the lottery you might need to rethink whether or not to submit it but either way just go with the tier you honestly believe it should be in Report this Post to the Staff
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