Author Topic: NCS Fees Are Outrageous!!!  (Read 7594 times)

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Offline Batman

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NCS Fees Are Outrageous!!!
« on: May 17, 2012, 03:29:58 PM »
Its one thing to estimate the amount of conservation fees at 5% (1% evaluation fee + 4% for conservation), prior to submission.  However, too actually see the invoice, is another!!  The fees are absolutely outrageous.  I find it hard to believe that by employing a graduated fee structure (higher value = higher fees), NCS is treating the higher value coins any differently than lower ones.  It’s the same process!!!!  It may make sense from a grading perspective, given their guarantee, however, NCS is not guaranteeing anything.   I am no longer a customer of NCS…poor decision on their part. 

Home conservationists unite!!!

Offline dobedo

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Re: NCS Fees Are Outrageous!!!
« Reply #1 on: May 17, 2012, 10:02:18 PM »
Did I hear the calling of a boycott? All fans of Batman unite!

Offline Panda Halves

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Re: NCS Fees Are Outrageous!!!
« Reply #2 on: May 17, 2012, 10:16:54 PM »
Their fees are actually quite reasonable.
HOWEVER.....
What is unreasonable is the 10 fold drop in their Modern Tier maximum value price structure.
Coins up to $3,000 could formerly be submitted for around $26.
Then, mysteriously and unnanounced they dropped a zero from their $3,000 maximum value making customers pay 5% (1% evaluation / 4% conservation) for any coin worth more than $300. (only the least numiatic 1/20 and 1/10 gold pandas qualify)
They need to tag another zero BACK on that figure.... 10x decrease in value tier offered overnight is uncalled for.
I submitted one order right before that change and already haven't submitted anything else since.
I am a HUGE fan of their customer service, and conservation expertise, but this crazy price structure is out of control in my opinion.
PH

Offline exchange

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Re: NCS Fees Are Outrageous!!!
« Reply #3 on: May 17, 2012, 10:26:22 PM »
Did I hear the calling of a boycott? All fans of Batman unite!

Batman, its time to call the Super Friends!

http://www.youtube.com/watch?v=RYLnbeg3aAk&feature=fvwrel

I alway wanted to say that  :001_smile:


exchange

Offline Obsidian

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Re: NCS Fees Are Outrageous!!!
« Reply #4 on: May 17, 2012, 10:48:05 PM »
Batman, its time to call the Super Friends!

http://www.youtube.com/watch?v=RYLnbeg3aAk&feature=fvwrel

I alway wanted to say that  :001_smile:


exchange

We should also call in the Avengers while we're at it.  :001_smile:

Offline BChung

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Re: NCS Fees Are Outrageous!!!
« Reply #5 on: May 17, 2012, 10:55:13 PM »
Captain Panda reporting for duty.....

Offline Batman

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Re: NCS Fees Are Outrageous!!!
« Reply #6 on: May 17, 2012, 11:10:58 PM »
Grab your bottles of acetone and coin flips, were off to PCGS!!!

Offline Birdman

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Re: NCS Fees Are Outrageous!!!
« Reply #7 on: May 18, 2012, 02:53:09 PM »
Their fees are actually quite reasonable.
HOWEVER.....
What is unreasonable is the 10 fold drop in their Modern Tier maximum value price structure.
Coins up to $3,000 could formerly be submitted for around $26.
Then, mysteriously and unnanounced they dropped a zero from their $3,000 maximum value making customers pay 5% (1% evaluation / 4% conservation) for any coin worth more than $300. (only the least numiatic 1/20 and 1/10 gold pandas qualify)
They need to tag another zero BACK on that figure.... 10x decrease in value tier offered overnight is uncalled for.
I submitted one order right before that change and already haven't submitted anything else since.
I am a HUGE fan of their customer service, and conservation expertise, but this crazy price structure is out of control in my opinion.
PH


Lobbying NCS to increase the Modern Tier maximum value from $300 back to $3000 might be a good focus...Today I called NCS and asked for clarification on the price changes.  They confirmed the changes and the fact that the fee for NCS/NGC grading of a $3000 gold panda went from $22.50 a few months ago to now around $180 (?).  I let them know that I was disappointed with this dramatic increase, and that it will result in me giving them less business.   If I understand correctly, they are charging the same price to conserve a pristine $3000 OMP gold panda as they do to conserve a $3000 gold coin that was in a fire and had a mess of melted plastic slab and soot encrusted on its surface.  See http://www.ncscoin.com/gallery/conserved/featured_conservation.asp  That is not equivalent.

From the way the customer service person was speaking, it seemed that I was not the first person to call in to complain.  If each up us called or emailed to express our displeasure and ask that the Modern Tier maximum be reset to $3000, perhaps they’d make an adjustment?  Thus, if you haven’t contacted them, let your voice be heard.  http://www.ncscoin.com/contact/contact_us.asp
« Last Edit: May 18, 2012, 03:00:26 PM by Birdman »

Offline r3globe

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Re: NCS Fees Are Outrageous!!!
« Reply #8 on: May 18, 2012, 03:29:21 PM »
I join my voice to birdman. We should ALL contact them. I think badon (with his advice) and members of tthis forum generated $1000's for them!

Offline Birdman

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Re: NCS Fees Are Outrageous!!!
« Reply #9 on: May 18, 2012, 06:44:37 PM »

Lobbying NCS to increase the Modern Tier maximum value from $300 back to $3000 might be a good focus...Today I called NCS and asked for clarification on the price changes.  They confirmed the changes and the fact that the fee for NCS/NGC grading of a $3000 gold panda went from $22.50 a few months ago to now around $180 (?).  I let them know that I was disappointed with this dramatic increase, and that it will result in me giving them less business.   If I understand correctly, they are charging the same price to conserve a pristine $3000 OMP gold panda as they do to conserve a $3000 gold coin that was in a fire and had a mess of melted plastic slab and soot encrusted on its surface.  See http://www.ncscoin.com/gallery/conserved/featured_conservation.asp  That is not equivalent.

From the way the customer service person was speaking, it seemed that I was not the first person to call in to complain.  If each up us called or emailed to express our displeasure and ask that the Modern Tier maximum be reset to $3000, perhaps they’d make an adjustment?  Thus, if you haven’t contacted them, let your voice be heard.  http://www.ncscoin.com/contact/contact_us.asp


If you need to hold your nose and submit five $3000 gold pandas for NCS conservation and NGC grading, you might consider taking advantage of their following promotion to take some of the sting away from a small batch:

“NEW! PremiumPlus NCS $249
Have your coins conserved and graded with this new membership tier. Associate Membership benefits, plus:  Coupon for 5 uncertified coins* valued $3,000 or less each to be conserved by NCS and graded by NGC.(Note: Only those coins that can benefit from conservation will be conserved.)” http://www.collectors-society.com/benefits.aspx

If I’m calculating the coupon value correctly… It is 5 coins x ($3000 value x 0.05) = $750 NCS conservation fee. Plus 5 x $30 = $150 World Gold NGC grading fee.  Thus $900 value - $249 premium plus membership = $651 savings.

Ugh, I’m thinking of doing this for a portion of my OMP pandas.  I’ll rationalize the $249 membership as a business expense to count against gains.  I'm still not happy...

Offline Panda Halves

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Re: NCS Fees Are Outrageous!!!
« Reply #10 on: May 18, 2012, 06:59:34 PM »
Good thinking!
That promotion existed back when their tier was still $300 instead of $3000 making the savings much less significant.
Better do it fast though before they drop a zero from their coupon promotion as well... :001_rolleyes:

Year of the Dog

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Re: NCS Fees Are Outrageous!!!
« Reply #11 on: May 18, 2012, 08:43:59 PM »
I just made my wife, father in law and both my kids members.  I hope this deal doesn't expire for a few months.

Offline Panda Halves

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Re: NCS Fees Are Outrageous!!!
« Reply #12 on: May 19, 2012, 01:36:55 AM »
I just made my wife, father in law and both my kids members.  I hope this deal doesn't expire for a few months.

Awesome.  I think the coupon method is better than the boycott method.
Shows you appreciate the service but at the more sane original tier level.


Year of the Dog

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Re: NCS Fees Are Outrageous!!!
« Reply #13 on: May 24, 2012, 12:00:25 AM »
I sent in a 43 imperial coins to be graded by NGC on the 26th of April and was getting pretty frustrated with NGC because I hadn't received grades back as of today.  Late this afternoon I received a email from on Craig Fiumara of NGC/NCS. Here is a Copy.
**********IMPORTANT MESSAGE**********

 

This email is to inform you that there are one or more coins on the invoice noted above that have been reviewed and may be a good candidate for conservation. If you wish to proceed with conservation simply reply to this email. If a reply is not received by the end of the next business day, your submission will be returned. You may submit the coin(s) to NCS for evaluation at any time after you receive them. If you have any questions regarding this submission please call NGC

(800) 642-264

The message says that 12 of the 43 coins can not be encapsulated as they are but are good candidates for NCS.  This angers me and makes me wonder what PCGS would do and why couldn't these coins be graded.

I called and talked with Becky.  I asked her a couple of questions about the grading fees.  Did a little protesting and told her I was very unhappy with the the fees and said I would be moving my business to PCGS.   I asked her what she thought the competition would do.  PCGS does not offer a conservation so would the also refuse to encapsulate a coin if not then what is NGCs motivation.  I asked to speak with Craig and even left a voice message but my call wasn't returned. 

So 3 questions for the fellow members.
Why would NGC refuse to encapsulate coins? 
Does conservation increase the grade of a coin?
And would PCGS refuse as well? 

These coins are imperial cash coins.
Any info will help.

Oh by the way Becky offered no explanation for the fees or fee structure.  Made no indication that she was surprised by my comments. No indication that she thought they were excessive or reason to be changed.

Offline Birdman

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Re: NCS Fees Are Outrageous!!!
« Reply #14 on: May 24, 2012, 09:09:50 AM »

So 3 questions for the fellow members.
Why would NGC refuse to encapsulate coins?  
Does conservation increase the grade of a coin?
And would PCGS refuse as well?  


Could the coins have been stored in PVC holders?  If they have PVC residue on them, I think that would be a red flag that would prevent encapsulation, as the coin would continue to deteriorate after slabbing.  As a side-note, I bought a PCGS slabbed (XF40) trade dollar and then sold it.  The buyer returned it, complaining of green PVC residue.  Sure enough, it had the residue, which was eating away at the surface of the coin.  I sent it back to PCGS to take advantage of their grade guarantee.  They conserved the coin (I assume themselves and not using their competitor NCS) and sent back the coin, slabbed and minus the green PVC residue.  I assume they initially overlooked the PVC residue, and it only later started to alter the surface of the coin.

In general, I can't help but think conservation would improve the grade, which is subjective.  As far as modern coins, think of a gold panda riddled with red spots.  If conservation removes them so the coin has a gleaming gold surface, I would think it would influence the grader.  It would be interesting to do an experiment and send several red spotted gold panda into NGC and see what grade they get, then pop them out of their holders and send them through NCS then NGC.  I bet they'd score higher.  I'd send in some pandas to do this, but with the new fee structure, it would be an expensive experiment!

I've seen a number of old Chinese coins slabbed by PCGS as "Genuine Not Gradable".  I speculate that a few of them were not gradable due to PVC residue or other attributes that NCS might be able to address.  PCGS appears to only do conservation if it is in defense of their grade guarantee.

Think of the positive in your case, you will soon have over 30 NGC slabbed Imperial coins, which you will undoubtedly be able to sell at a good price in this market.  You didn't mention any counterfeit, fake, or "questionable authenticity" coins in that batch of 43.  That is a great result since NGC has been quite cautious in what it slabs.

Birdman
« Last Edit: May 24, 2012, 09:24:25 AM by Birdman »