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 Replies: 14 / Views: 1,643 |
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Valued Member
United States
112 Posts |
Being a newbe and having recently sent 6 coins to NGC for certs, I noticed their "service fees", are set up strange (to me).
If a coins value is $299 it cost $16. If a coins value is $2,999 it cost $30.
Hypothetical EXAMPLE: two coins, both 1895o, one is say F-14, the other is AU55.
Both coins identical, (except for difference in "wear"). If I am correct in stating this, both coins goes through the "EXACT SAME STEPS FOR CERTIFICATION",right?
So why is their a price difference?
Are the cheaper coins certified by a guy in a tee-shirt with flip-flops on, and the more costly coin has a certifier in the 3-piece suit? Certification pricing boggles my mind. Can anyone unboggle it?
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Pillar of the Community
United States
1523 Posts |
I'm my experience the cost of grading is based on the insured value of the coin.So if you were to insure that 1895O for under 500 bucks,you would pay the lesser amount.If you insure it for 5000 dollars then you would pay the higher amount.It has to do with their liability.
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Valued Member
 United States
112 Posts |
Ok Halfwitty, (thanks for replying). If liability is the reason, what happens when a person sends in a coin, and not sure of its value (say a real-newbi) insures it for $200 and it ends up being worth $2,000 or more after certification. Does NGC demand more money for its certification, before they return it to its owner?
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Pillar of the Community
United States
2661 Posts |
 Both coins go through the exact same process so I would think it would cost the same also. I guess they figure if you can afford the higher valued coin you can afford to pay more for grading services. |
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Pillar of the Community
United States
1523 Posts |
They have never charged me extra for a higher valued coin after they graded it but of course they aren't dummies either.If you send them a 1878CC AU Trade dollar to grade and insure it for 499 dollars they would pick up on that pretty quickly.I wouldn't do that and most people wouldn't but that's just an example. |
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Moderator
 United States
23522 Posts |
It's about declared value (a direct function of grade) rather than insurance specifically. I've no experience either way, but I suspect they might take offense if you deliberately undervalue a coin by a stupid margin in order to save a few bucks. OTOH, even if the grade/value difference is large, a coin you called AU55 which they considered Mint State probably wouldn't get a reaction.
Keep in mind, when you consider grading costs, the liability they expose themselves to by possibly giving a $5000 coin a $10000 grade. It's a bit bigger hit than overgrading a $50 Morgan, and they're charging more for the potential.
Not to mention someone who collects $5000 coins has a few bucks to spend on grading it....heck, I'd charge more to photograph a $5000 coin than a $50 one.
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Pillar of the Community
United States
1882 Posts |
I have to imagine they spend a little more time before slapping a label on a coin that says it is worth $15K.
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Valued Member
United States
112 Posts |
Lets see if I can sum all this information up. It tells me that graders will pump-through cheap coins(example $300/$800),faster for a cheap fee, but they will drag their feet on expensive coins (example $5000/$20,000)and charge more for the same grading steps/processes/checks. Does that sound right? Maybe I'll quit while I'm ahead. Point being, IT'S CONFUSING!
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Pillar of the Community
United States
1882 Posts |
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charge more for the same grading steps/processes/checks Who said the high value coin goes through the same exact steps/processes/checks? |
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Bedrock of the Community
United States
14454 Posts |
I also think its the turn around times that are different also. I havent looked at the rates in awhile but I know thats how it used to be
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Valued Member
United States
112 Posts |
To Steve119: No one has said that a more expensive coin goes through the same exact steps/checks/proceedures. But, no one has said that they don't.
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Moderator
United States
23522 Posts |
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But, no one has said that they don't.
That's because we don't really know. What knowledge *is* publicly available indicates that the average grader has 60 seconds or less to handle the average coin; I just cannot imagine them spending so little time making a $10,000 decision. And if they do, remind me to bring any such coin I may ever own (as if) to a show for onsite grading. |
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Pillar of the Community
United States
1882 Posts |
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but they will drag their feet on expensive coins (example $5000/$20,000)and charge more for the same grading steps/processes/checks. The higher tiered grading services (higher valued coins, higher fees charged) typically have faster turnaround times, not slower. |
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Bedrock of the Community
United States
14454 Posts |
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The higher tiered grading services (higher valued coins, higher fees charged) typically have faster turnaround times, not slower. Thats because they get pushed to the front of the line |
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Pillar of the Community
United States
1882 Posts |
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Thats because they get pushed to the front of the line Right...they don't drag their feet on them.  |
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Replies: 14 / Views: 1,643 |
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Posted 03/27/2010 09:53 am
