Author Topic: Pay For Grades from PCGS & NCG?  (Read 1851 times)

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Offline NBM

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Pay For Grades from PCGS & NCG?
« on: May 23, 2013, 10:08:22 AM »
I'm not sure I understand what this is about or if it is true or not but on the surface it does not look good at all.
This began as a discussion on APMEX's cherry picking their coins for grading and selling the leftovers.
Allegations were made that PCGS & possibly NGC are charging by the grade in bulk submissions.
It would be helpful if we could get a statement from PCGS & NGC concerning this.

From the BS forums (requires membership to view). http://www.bullionstacker.com/viewtopic.php?f=3&t=14244&start=60
First mention 9 posts down.
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I'm not an NGC dealer, but I have read that NGC charges differing amounts based on what the grade assigned is. For moderns I think 69's are $7 and 70's are $25. Quite an incentive to grade liberally... especially when you can more than triple the fees of a shipment. Multiply that by monster boxes.
11th post.
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Actually, I was quoted from somebody that they were working on a bulk submission deal where the 70s would be $30/coin and the 69s $10 each. So yes, that scheme is actually something that is in play.
13th post he clarifies that this is PCGS.
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Sorry, but he told me he was working this deal with PCGS, and I don't have this info from anybody on NGC.

Offline BobW

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Re: Pay For Grades from PCGS & NCG?
« Reply #1 on: May 23, 2013, 01:04:29 PM »
PCGS policy on bulk submissions. This only applies to coins valued at $300 or less. There is no similar program for coins valued over $300 or for submissions that are not bulk submissions.

http://www.pcgs.com/bulksubmissionagreement.html

Offline PandaCollector

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Re: Pay For Grades from PCGS & NCG?
« Reply #2 on: May 23, 2013, 01:30:52 PM »
You would have to ask PCGS about this, but it's my understanding that a 70 coin gets looked at more often and uses up more of the graders' time than a 69 or lower. It may also be handled more carefully when being inserted in the holder. I think the company may just be trying to make the grading fee proportional to their expenses.

Best wishes,
Peter Anthony
China Pricepedia
www.pandacollector.com.