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PCGS grading question..Please Help........


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I am new to the forum, somewhat new to coins, but not really. One thing that I haven't been able to understand is this.......I notice on Ebay and other places you can buy PCGS graded coins for under $10, and sometimes get lucky and get them even cheaper than that. Or you have coin that may be worth $12 in MS-66 or something. My question is this....How can sellers possibly afford to have these coins graded? Or why would someone have a coin graded that is potentially worth less than the fee to have them graded? It's $14 for modern coins, and more for older coins. Are there some kind of discounts if you send in 200 coins? Or do dealers get a discount? In my opinion its a horrible business move to have a 2001 Vermont Quarter graded by PCGS unless you are absolutely certain its going to grade out at MS-66 or better. Even then your not going to get more than $15 -$20 on Ebay. Are these people just gambling, hoping they get lucky and get an MS-68 or better?? Kind of odd to me.

 

One more quick question.....Is PCGS ridiculously hard on grading memorial pennies? I noticed in the POP report that in the 70's there aren't a whole lot of 67+ coins floating around out there.

 

Thanks!!! :ninja:

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I am new to the forum, somewhat new to coins, but not really. One thing that I haven't been able to understand is this.......I notice on Ebay and other places you can buy PCGS graded coins for under $10, and sometimes get lucky and get them even cheaper than that. Or you have coin that may be worth $12 in MS-66 or something. My question is this....How can sellers possibly afford to have these coins graded? Or why would someone have a coin graded that is potentially worth less than the fee to have them graded? It's $14 for modern coins, and more for older coins. Are there some kind of discounts if you send in 200 coins? Or do dealers get a discount? In my opinion its a horrible business move to have a 2001 Vermont Quarter graded by PCGS unless you are absolutely certain its going to grade out at MS-66 or better. Even then your not going to get more than $15 -$20 on Ebay. Are these people just gambling, hoping they get lucky and get an MS-68 or better?? Kind of odd to me.

 

One more quick question.....Is PCGS ridiculously hard on grading memorial pennies? I noticed in the POP report that in the 70's there aren't a whole lot of 67+ coins floating around out there.

 

Thanks!!! :ninja:

 

Welcome.

 

There are probably many reasons why you can find slabbed coins with low prices - sometimes prices around what it looks like it costs to slab the coin. For example:

 

The price of slabbing varies. There are specials. There are 'certificates good for grading'. There can be minimums. So, it may not be the case that the coin cost as much to slab as it appears. Also, very high MS graded modern coins (as in types that are circulating now) do command a surprising large premium. It may be that these are valued for their role in registry sets (see the PCGS and NGC sites) or simply because people very much want the "none graded higher" coin. So, it makes sense that people might search rolls and bags to come up with, what they believe to be, MS69 specimens. But, the graders at the service may not see it that way or maybe they only see one of the coins as an MS69. But the whole order is graded. In my opinion, It is very difficult to predict an MS67 from an MS69 - some may be able to do it well, but many others may find that they do not do it so well. I think that you provided one answer to your own question when you noted "I noticed in the POP report that in the 70's there aren't a whole lot of 67+ coins floating around out there."

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When people do bulk submissions they get a good discount on the grading price. That's why you see some low quality coins in holders. Dealers probably sent them in as fillers to meet the minimum bulk submissions quantity. I'm not sure of the exact discount but it does make it worth it to send a few hundred in at a time.

 

Best thing is. Say a dealer sends a coin in that he could normally sell for a couple bucks, it cost $8 to slab, and he puts it on eBay. He probably breaks even or even makes a buck on the coin that way. PCGS slabs carry a premium over others.

 

Isn't there only one business strike MS70 Memorial Lincoln?

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When people do bulk submissions they get a good discount on the grading price. That's why you see some low quality coins in holders. Dealers probably sent them in as fillers to meet the minimum bulk submissions quantity. I'm not sure of the exact discount but it does make it worth it to send a few hundred in at a time.

 

Best thing is. Say a dealer sends a coin in that he could normally sell for a couple bucks, it cost $8 to slab, and he puts it on eBay. He probably breaks even or even makes a buck on the coin that way. PCGS slabs carry a premium over others.

 

Isn't there only one business strike MS70 Memorial Lincoln?

I meant that in the 1970's and even the 1960's there doesn't seem to be very many 67+ grades in the POP report. I was curious if PCGS was little tight on pennies. I have heard that certain grading services are a little tighter on certain coins.

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I meant that in the 1970's and even the 1960's there doesn't seem to be very many 67+ grades in the POP report. I was curious if PCGS was little tight on pennies. I have heard that certain grading services are a little tighter on certain coins.

 

Ah I got you now!

 

PCGS is a bit tighter on Lincoln's then some of the other grading companies. I'm not quite sure how closely NGC can compare though.

 

If you want, you can check out Collectors Universe (a board run by PCGS) and see if you can find any info on bulk submissions.

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I meant that in the 1970's and even the 1960's there doesn't seem to be very many 67+ grades in the POP report. I was curious if PCGS was little tight on pennies. I have heard that certain grading services are a little tighter on certain coins.

 

 

You're not gonna find a whole lot of any circulating denomination in grades over MS67 - the coins simply don't exist in higher grades.

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