Wow So I Asked For Auction Appraisal From Heritage

If they submit in bulk and get one or two "winners" then they can cover the losses on the rest. It is a gamble, but many seem to do well with it.

I've heard this before but my LCS even with Bulk to NGC or PCGS still pays around $40 per coin. And I believe that's when he sends in 100 coins, so if he sends in 100 Mercury dimes and he gets 98 back at 64-66 and 2 at 68 he still has to sell those 68 at a crazy profit. I really think that the vast majority or people (like the ones that come on here) are the ones getting everything slabbed. I see people asking to and slabbing MS 64 modern nickels , they aren't worth more than a dollar or 2. I really believe people will just slab anything. People slab bullion ASE, think about that, it's a bullion coin.. why would you slab it? It's value is based on bullion?

The LCS said his total cost for bulk grade comes out to about $40 per coin. I didn't ask for a breakdown, but that includes shipping , insurance and whatever else to the grader and shipping back. I doubt he pays $12 (almost all his coins are NGC) per coin that seems low but I haven't gotten anything graded so I can't confirm or deny. I also doubt that he sends any low MS coins for grading, most of his stuff is high MS (65+). He did grade a few gold coins at PF70. I actually hate to say this but he has the 2016 Mercury gold at PF 70 on hold for me. It's my first perfect coin (well that's graded), actually charging me less than one with the case from the mint..

I trust him more than I trust you. He has no reason to lie to me. I don't pay more for a slabbed coin than a raw. So what he tells me is probably accurate. I doubt he sends in 100's of coins as 1 he would only grade what's worth grading and 2 most of what he gets in is already slabbed. So he grades only higher value coins, no reason to grade a $15 coin by paying $12 like you say it costs.

So let's say he sends in 50 coins.

The economy cost is $17 per coin, then you have shipping, insurance , handling cost, labor costs to pack and ship, labor costs to unpack and store, handling fees, labor costs to put the information in a computer, filling out the forms and cost fees tied up in the time that they are at the TPG. His estimate is that each coin to get graded costs him about $40. It seems very reasonable, if you time is free I need my lawn cut. I'll provide the lawnmower.

It is also possible he is sending in a lot of coins, but he is NOT doing a bulk submission. A bulk submission is (If I remember correctly) a minimum of of 100 coins all of one type and no more than 4 date/mint combinations. Shipping and insurance can be by registered mail and $100 in shipping costs ($50 each way) will cover $50,000 in insured value. So cost is $1,200 for grading, $100 for shipping and insurance, $10 submission fee or $1,310 or $13 per coin. Now if he wants to get the coins there faster he could send them overnight priority insured and that will add another $600 to $1000 to the shipping expense, but that would still only bring it to $22 per coin max.

If it is really costing him $40 per coin then he is NOT doing bulk submissions.

So your number is right, but as you confirmed he is doing standard grading not bulk grading no matter how many coins he is sending in. BIG difference.

No if he is sending in all different coins he can't do a bulk submission. As I mentioned earlier to qualify for a bulk submission it has to be at least 100 coins of the same type with no more than 4 different date/mint combinations. Bulk is usually done for very common coins such as Morgans, Peace dollars, SAE's, and moderns. Things that you can get large quantities of, cherry pick out the best pieces, and still have over a hundred coins to submit. Then hope your high grade winners pay for the whole submission. That way all the rest you have $0 in so whatever you sell them for is pure profit.