How To Not Screw Up A Coin's Value To Submit To Coin Grading Company

How To Not Screw Up A Coin's Value To Submit To Coin Grading Company
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[@joelpuncochar943]

I had submitted a coin recently at the economy level. I got the email that it had graded much higher than my expectation and I owed them more money for the Regular level, plus more insurance. It was the best bad news I'd received in quite a while.

[@kscoins4787]

A NEW found respect for you sir. I'm seeing only 13 comments at the time I'm typing this and in shock a few STILL (buy this coin, how much is my coin worth) thank you for NOT giving up,to share your knowledge,try to better someone's experience in this hobby and being a role model. Hope your Tuesday is TERRIFIC!!!

[@georgematthews2877]

Good Morning Daniel!🍵🦃 I hadn't thought about it before, but submitting sounds a bit like gambling.

[@thebrainreigns1858]

You never cease to share your wisdom, thanks again.

[@Drodgey212]

I’m simply agreeing with the last two commenters. I thank you for all your info you give up to us so selflessly. Thank you. Happy T-Day.

[@paulbegansky5650]

Another, if you have a local coin dealer or coin group, is submit through them as they may bulk submit. They can give guidance and help through the process. First, take high grade photos of your coin.

[@josepchwill1304]

Thanks for another informative video. I just made a submission to NGC. I decided to forgo PCGS; I feel like sending my coins off for something other than what feels like an eternity on an economic order; NGC's current turnaround time is 29 business days +/- a few days. With the number of high-profile organizations that NGC is recognized by that PCGS is not, I wonder why they do not get more recognition. Also, I hope that ANACs will regain more recognition as a first-tier submission service because they have been around the longest. I have been submitting to PCGS since 2014, and NGC since 2015, I learned about how to and how not to submit coins the hard and expensive way. This channel has valuable information that all collectors should use.

[@cordero1947]

You are by far the best, most informative platform out there for valuable, practical information for any coin collector. I myself am a semi rookie but like to think I know more than I do. Just recently got a PCGS membership for the sole reason of sending some coins off to be graded. It has taken me many hours to prepare the coins and forms to be sent off. And hit a MAJOR roadblock when I went to ship them. There are many details not explained in the submission process. I have since researched more and have resolved my issues. And hopefully next week will actually be able to ship. Specifically in regards to using FEDEX. I am now going to be using USPS Registered services. Since my coins are roughly valued at $5k. Thank you for your videos, very helpful!

[@CoinHELPu]

Thank you

[@ellenwinston6009]

Thanks for clearing this one up for me, looking at the form I came to the same conclusion that's why I haven't submitted any coins yet.I'm at the point ready to submit my first set of coins. I'm leaning toward PCGS with the membership fee. Good class Daniel!

[@MarkA-Coins]

Thanks for the information Daniel ! One day I'll submit my own and be sure to reference this and all your videos on how to submit coins. I think to date I have only sent 7 in as not all coins are worthy of being submitted. Wishing you and your family a Blessed Thanksgiving ! Thank you for all you do Sir.

[@scottnewman9826]

I generally struggle at wide value shifts in higher grades. Could be $250, or one grade higher is $2500. Glad to hear you say that they will correct the tier if they pick the higher grade. That way we don't have to over pay on insurance and such.

[@Supercheeseburger666]

I've always wondered how this process went. Very informative. Thanks for sharing. 😀

[@louisvrana7526]

A key video to watch! Excellent information you have provided. It is very confusing sometimes on who to send coins to, how to decide your coin's possible grade. Superb video. Thank you very much! Blessings, Louis

[@pamelawheeler1503]

Thanks!Always enjoy your videos. Thanks for your time and effort to put together these videos. Keep up the good 👍 work.

[@douglaswilliams6834]

Good info! I get around all this jumping through hoops by only buying already graded coins. I prefer to let someone else deal with PCGS & NGC. 🙂

[@paulbruney1704]

God morning Sir Daniel! Happy Thanksgiving to you the family and Vrew! God Bless you all!

[@donnaflannery2757]

Thanks Daniel....You are the best.

[@bigaarmory100]

One of the best things about Daniel and this channel is the useful information that is provided on each and every video. It is always easy to distinguish the people that have a true passion for the hobby versus those that merely seem to be trying to increase their social media presence and KZbin metrics.

[@ezel6200]

Good morning everybody good morning Danial Happy Thanksgiving to you and to your family

[@mikeparadise5024]

Thank you have great blessed day and happy Thanksgiving

[@silvadelshaladin]

It's kind of amazing (for them) that they can charge $65 just to do a vam or breen, etc.

[@barfrockskin535]

I agree. PCGS is terribly expensive.

[@grantv2313]

I think NGC has caught up to them. You have to pay for membership. Pay to get the submission to them. You have to pay $10 per submission form. If coin is over $300 in value you’re at minimum $40 per. Now add variety if you want it. Another $18 per. Scratch resistant holder, $5. Return insured shipping $28 minimum. About $75 a piece to get two coins graded now and back in your hands.

[@esteger1]

Hi Daniel, Great video as always. Thanks for taking the time to make them. I'm a real beginner when it comes to submitting coins. A while back I sent one to PCGS through a local dealer, and it's going to take at least four months to come back to me. Well, now I know for next time.

[@paulbruney1704]

Have a great day Dir#

[@wesleyburns4566]

Thanks for the info. Have a happy holiday

[@tedlawrence4189]

Very informative. Valuing high grade scarce Morgans is not easy. I have an 84s that I thought was maybe a 62. I listed au58 value. Of course it came back a 58. LOL. Huge difference in value between those 2 grades. You will not see this kind of topic on youtube except here from Daniel.

[@johnsnow-nb6ok]

Thank you Daniel for giving us your coin knowledge. So Happy Thanksgiving, you rock.

[@fernandorivera2395]

Good morning, Daniel Have a great day & Happy Thanksgiving my friend 👍

[@marym5631]

Daniel thank you for your guide!

[@johnt.4947]

Very helpful video Daniel, as usual. Thank-you!

[@dougbaker7546]

Thank you. Your channel is great 👍🏻 👍🏻

[@shekatagani]

Happy Thanksgiving! Thanks again for all your great videos!

[@joecabezas7721]

Will the grading company contact the sender if they find something not stated on the submission paperwork?

[@TheSteveBoyd]

I learned the hard way that PCGS is going to disappoint me on the grade 9 times out of 10. So if a coin has the potential for big money due to strike designations like FBL or FS, (or CAM/DCAM on proofs), I send 'em economy tier. If they're actually honest, they can adjust the tier and I'm more than happy to pay the difference. This has never happened, however. 😂 The other thing I take into consideration is the inaccuracy of the Price Guide itself. If it values a coin at $400, I think it safe to assume I won't be able to get more than $300 out of it. The one extra expense I will pay for is the $5 for true-view. Coin photography is hard, and there's no one on earth who does a better job than PCGS.

[@Bo_D_Vine]

Thank you, Daniel

[@kristinebailey86]

Daniel its a good thing your on your Agame that would have been bad I still make mistakes about cleaned coins sometimes but improving and steering clear of over cleaned coins

[@tedlawrence4189]

Easy to throw away $ by sending coins in that just are not worth the effort and cost.

[@JackFrost-xvxv]

Another wonderful video 📸👌

[@aquariusfamily3498]

Happy Thanksgiving Daniel.

[@mslj4062]

Thank you so much. It helped a bit. Have a wonderful weekend. ☕😳👏🏼🤔

[@timburke8592]

I just had this conversation. I was told value is for insurance purposes in their custody only. Has nothing to do with grading.

[@TruthLivesNow]

Great video Daniel! I have a collection of graded PCGS and NGC MS63-MS70 Silver Dimes that I bought on Ebay for far less than it would cost me to grade the coins. People are not looking at the Retail Price Guide, getting the coin Graded, and losing money, or sending coins in mass quantity and getting a special price. I do not understand why this happens.

[@jeffw1267]

Some large dealers will send a big chunk of coins to PCGS or NGC, hoping to get a high grade on just a few and recoup any losses. A few years ago I bought a hundred PCGS-slabbed Franklin halves in MS65 from David Lawrence, all at once. They are consecutively numbered. Such a large dealer doesn't mind unloading such common slabs for cheap.

[@troodon1096]

Dimes are a strange thing with PCGS as I've seen many of them graded that are worth less than the grading fee. Some of them might be from bulk submissions, so the math of what makes them worth grading works out better, but there's another reason for Roosevelt dimes especially: registry sets. Some people like competing to have the finest graded registry set, and one of the cheapest series to try to complete a set of is Roosevelt dimes, a series that isn't that long (especially if you only collect the silver ones) and has no major rarities (if you don't count minor varieties, like say 1975 proof no S and things like that). So a lot of people will send in dimes they think and/or hope will come back as the finest known grade. Some people are overly optimistic and miss that mark, and will get them back as grades that made them not worth submitting if they knew that's what grade it would get. But they're still worth something, so they'll sell them on eBay or other 3rd party online retailers. That's likely the reason; it's not ignorance so much as wishful thinking. Registry sets are very competitive and a lot of people want to get on there with easier/cheaper to acquire coins, and probably no series is cheaper to complete than Roosevelt dimes.

[@pdstor]

Thanks for the info - very helpful. You recommended ANACS for less valuable coins - I've heard both that ANACS should be the go-to in this case, and also that it wouldn't matter if you sent off to ANACS or ICG (and I've also heard to keep them uncased and forget it!). If I have something that has a little bit of value (it's a '64 proof Kennedy with the original hair design, but it has a few small scuffs proof coins can get if you're not careful with them taking them out of flippers, if they get stacked, if your wife bumps your table and it falls on the floor etc). I frankly don't know what to do with it!

[@barfrockskin535]

Greetings Dr. Rasberry. I am a long time collector of nearly 60 years. Dan is correct in saying that for lower value coins, ANACS is the way to go being their grading and slabbing fees are much less than NGC, and even more so with PCGS which I consider outrageously expensive. It is my opinion that ANACS has "tightened up" their grading standards in recent years, and has gotten as accurate with grading as PCGS or NGC. Not too long ago, I cut out several coins from ANACS slabs, and sent them off to either NGC or PCGS, and they came back in the same grade that they were in the ANACS slab. However, I WOULD TOTALLY AVOID SENDING ANY COINS OFF FOR GRADING TO ICG (Independent Coin Grading). I would say perhaps 95% of the time, ICG will OVERGRADE a coin by 1 or 2 points. If I cut out a coin in an IGC slab that they have graded MS65, most likely, if I send that same coin off to PCGS or NGC, they would grade that coin as either an MS63 or MS64. It is also possible that a coin graded by ICG as being a "problem free" coin may get a "cleaned" designation from PCGS or NGC, and WITHOUT a numerical grade assigned to it on the tag inside the slab. I have had that happen to me as well. Thus, I consider those in charge of grading at ICG to be less accurate than the other grading services. On the other hand, ANACS will attach a numerical "details" grade to a coin no matter what issue that "problem" coin might have. I also suggest you check out the many coin "crossover" videos here on youtube that are very educational to increase your knowledge in this area. Just my two cents for what it is worth. I hope I have been helpful.

[@mikeparadise5024]

Love the videos got alkt of error coins from my dad he kept them hes 91 I got like 4 1943 penny's maybe more it a big pile seems like those are worth something and like 18 silver morgans forget the year

[@PirateStacker]

Good info...

[@ALLDAYCOINS]

Your Doing A GREAT JOB 🎉❤👍👏💯 Helping People🎉

[@irenegold3969]

Thank you Daniel.

[@troodon1096]

Somewhat a matter of opinion and/or preference, but I personally wouldn't send a coin in to be graded unless I think it's worth at least double what it costs to have it graded, as a general rule of thumb. I may make some exceptions if I'm just doing it for storage/protection convenience or for authentication/variety attribution. And you mentioned it in the video but thought I'd emphasize it: PCGS requires a membership to send them coins. NGC requires a membership, however if you're a member of ANA you can submit coins to them also. ANACS does not require a membership to send them coins. ANACS as far as selling your coins at a later date is definitely considered lower tier than PCGS/NGC, however their service is cheaper, does not require a membership, and they recognize many more varieties than the other two, so they might be worth considering for coins you think are worth having graded but aren't worth enough to have the other services do, or are of varieties you want noted that the other two services don't recognize. A lot of coins I have graded not because I intend on selling them, but just for convenience of protection/storage/transportation, I'll send to ANACS just because they're a lot cheaper to do so (they're not of a value that would make them worth sending to the other two services).

[@roxeslinn5491]

Happy iThanksgiving Daniel

[@desibur8558]

Thank you

[@michaelhansen6977]

I am still waiting on my 1st set of Kennedy dollars to finish grading I probably overpaid because I wanted to be sure it was covered. I justify it by telling myself I need in hand graded coins of every grade to compare.

[@tedsmith5058]

Hello from the great state of Michigan

[@pccoinstar5911]

Hello sir I'm from Morocco,I have American coins how much will it cost me to classify them?

[@jimnoding]

I just got done watching your show on KZbin I think seems like you're honest person I'm 68 years old I have mega coins and don't know what to do can you help me my name is Jim

[@CoinHELPu]

Unless they’re graded by PCGS or NGC you don’t really know what you have.

[@sidneybutler3902]

I went to your coin help u page to get an option on what a couple quarters may be but have trouble loading the picture (s). Any help would be appreciated

[@CoinHELPu]

I can't help with that, someone would need to be on your end to help with uploads. I don't have that ability in my community. Watch the video on how to do it and use jpg or something like that.

[@JohnEnriquez-hc7tv]

I have a very important question I have a Roosevelt no S mint 1975.. I've been a coin collecer since 2016.. I think of myself as a beginner I know there is a still a lot for me to know about coins

[@CoinHELPu]

kzbin.info/www/bejne/bIfUqIl7r7mWg7c

[@mospeadaman]

To be fair to NGC, their prices for error submissions are a bit lower than PCGS. PCGS has it for $65 vs NGC tier + $18. One could save a lot on economy errors

[@kevincoppin6270]

How do I how to properly clean coins

[@justinhughes4195]

Daniel, in your opinion, which grading company gives the most accurately graded coins?

[@troodon1096]

PCGS/NGC/ANACS (at least recently) are all about the same as far as accuracy goes. ICG tends to overgrade by a point or two compared to the standards of the others.

[@doodsdeguzman7005]

That’s is hard for the people that’s new in the hobby grading your own coin is like a guessing game either you hit or you miss

[@CoinHELPu]

It’s like that for everyone not just newbies.

[@larrygallagher6670]

Ahoha, can one send a photo by text? Thanks for the education. Larry G

[@coolbreeze6198]

I bought these 12 Indian heads that i still haven't sent because im scared im gonna screw it up !!!

[@CoinHELPu]

How To Not Screw Up A Coin's Value To Submit To Coin Grading Company Coin Shop Website portsmouthcoinshop.com/ CoinHelpu Community coinauctionshelp.com/forum/

[@highplainsdrifter6489]

Hello 👋🏻🤠

[@Laionrogue83]

So when pcgs is hurting for money, they can just start giving people higher grades, so they can charge more.. Pretty good business strategy. These over complicated and priced grading companies are a blight on the coin collecting and dealing business. If they're going to charge so much, they really should take more of the burdensome process on their own backs. And charging based off their own manufactured value is scandalous when you might never find a buyer to pay that much or even buy it at all.

[@mospeadaman]

The current trend is that PCGS has become much tighter in their grading. Since the pandemic started, there has been a huge backlog with 90 business day turnaround times. My economy submission from July is still not done. They are in serious need of experienced graders and with their merger and backlogs, they don’t seem to be hurting for money at this point.

[@justaguyandhissilver4893]

This step seems really pointless. Why assume the value knowing in reality they will make that call? I would rather skip that step and get an accurate bill and total upon grading. Sorry if I seem frustrated, I just signed up for the platinim membership and didn't realize how over complicated the process is lol.

[@CoinHELPu]

It’s not complicated, just guess a value.

[@kristinebailey86]

I find this very confusing

[@gregquinnthrift9632]

That's your opinion for grading you can't tell people not to send it to pcgs when someone has a coin they want graded. Error or not.

[@CoinHELPu]

Yes I can. I can tell people what I want in my videos. You do what you want but I control what I say here. Lol

[@troodon1096]

Um, he can tell people whatever he wants; free speech and all that. You're not required to agree and nobody's forcing you to watch the video, but it's his channel. And yes, of course it's his opinion; that's why he said it.

[@jrpcoins]

I find it hard to want to send off a coin for grading to pcgs because ive been comparing my coins to the ones on true view and comparing the true view coins and i really think they only give out the higher grades to people they either know or that have sent it thousands of dollars in submissions to achieve a grade. I made a video to prove my point too, kzbin.info/www/bejne/pKjJe2l9qNN2Z7M What do you think about them doing this Daniel? Thank you for all the useful information you put out on a daily! 🙏

[@CoinHELPu]

It's about the math, the more you send the greater your chance of getting the grade.