Author Topic: NCS NGC fees going up!  (Read 15709 times)

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Offline comeaux

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NCS NGC fees going up!
« on: March 11, 2012, 10:39:48 PM »
Passed on to me from one of the masters here on CCF ... price for grading & conservation is going up !
I also heard this is retroactive as of March 1st  :(

A. Standard conservation with grading. Conserve all coins and submit to NGC for grading.*

B. Standard conservation and return raw. Conserve all coins and return without grading*

C. Modern conservation with grading. (Any uncertified us or foreign coin 1970 to date, valued $300 or less) Modern fee is $26 50/coin, includes conservation and grading

*What this means is for coins valued above $300 we will have to pay 1% for evalation, plus 4% for conservation, plus grading fee between $14-$50 depending on the coins value. So a $3000 coin will cost $180 for conservation and grading vs $22.50 last year and $26.50 in January/Febraury.

STANDARD CONSERVATION FEES:

1. Evaluation Fee: 1% of declared value per coin, minimum $5. Service Description: Item examined by a conservation expert to determine what conservation work, if any, should be performed. All graded coins, excluding details and genuine holders, will be returned as is if conservation is not performed, and only the Evaluation Fee will be charged by NCS. Coin(s) holdered by any service other than NGC or PCGS will be treated as raw coin(s) and removed from their holders. In order to submit coins that are in holders other than NGC or PCGS, you must initial section 5, Conservation Services, on the front of this form confirming you have read the terms and conditions regarding the Consent to Remove Coin(s) from Holder(s) information below, prior to any work being performed by NCS. Coins that are in either NGC or PCGS holders and cannot benefit from conservation will be returned and the customer will only be charged the 1% evaluation fee.

2. Conservation Fee: 4% of declared value up to $150,000 per coin, and 2% of declared value over $150,000 per coin, minimum $15.
Service Description: Appropriate conservation is performed.

Offline badon

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Re: NCS NGC fees going up!
« Reply #1 on: March 11, 2012, 10:52:52 PM »
I split this into its own topic so people can find it. Thanks for the update, is it on NGC's website?

Offline comeaux

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Re: NCS NGC fees going up!
« Reply #2 on: March 11, 2012, 11:14:54 PM »
is it on NGC's website?
Not yet on NGC but it came from a source that is highly reputable ... 

I have heard the "heavy hitters" are circulating emails right now and are furious about this.

Offline fractalfate

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Re: NCS NGC fees going up!
« Reply #3 on: March 11, 2012, 11:25:03 PM »
I saw the updated fee schedule on NCS' site last night. Here's the link: http://www.ncscoin.com/faqs.asp
This sucks. The have a monopoly on the market. What else can you say?

Offline badon

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Re: NCS NGC fees going up!
« Reply #4 on: March 11, 2012, 11:27:12 PM »

low

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Re: NCS NGC fees going up!
« Reply #5 on: March 11, 2012, 11:30:13 PM »
It is on NCS website. Not sure if the $300 is a typo mistake. Perhaps it should be $3000.

http://www.ncscoin.com/conservation/services_and_fees.asp

Offline comeaux

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Re: NCS NGC fees going up!
« Reply #6 on: March 11, 2012, 11:30:47 PM »
PCGS
they will follow with something as well I'm sure

I did not see the update on NGC but maybe I didnt look hard enough but I did hear this.

Offline BobW

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Re: NCS NGC fees going up!
« Reply #7 on: March 12, 2012, 12:26:09 AM »
Those may indeed be the new fees but they cannot change them retroactively.

Offline comeaux

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Re: NCS NGC fees going up!
« Reply #8 on: March 12, 2012, 12:41:55 AM »
Those may indeed be the new fees but they cannot change them retroactively.
Unless you are the CEO of NGC, yes they sure can ... if anybody did not like it then they could just send their coins back ungraded. 

Offline SANDAC

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Re: NCS NGC fees going up!
« Reply #9 on: March 12, 2012, 01:39:42 AM »
I have 20 coins in NCS/NGC right now with the old price.  I'll see how that work out.

Unless NGC thinks they are Greece, raise price retroactively does put them in serious trouble with Florida attorney general.  We'll see.

Offline Obsidian

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Re: NCS NGC fees going up!
« Reply #10 on: March 12, 2012, 03:19:43 AM »
And this is another reason why I hate having to pick one company or the other.  This new NCS policy pretty much makes it cost prohibitive to NCS gold coins.  A 5% fee to remove a few copper spots on a 1 oz gold panda is crap.  These are the same prices you would pay to NCS some old US coins with toning, dirt, or whatever else is on it.  That process takes a whole lot longer than conserving some modern chinese coin.  And yes this pricing is official.  It is on the NCS submission form.  NGC / NCS can kiss my you know what.
« Last Edit: March 12, 2012, 03:26:43 AM by Obsidian »

Offline BChung

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Re: NCS NGC fees going up!
« Reply #11 on: March 12, 2012, 06:15:57 AM »
I love how some companies always manage to drive their customers away eventually.......

Offline Pandana

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Re: NCS NGC fees going up!
« Reply #12 on: March 12, 2012, 10:11:30 AM »
Thank you NGC so much for increasing your fees:

1.  My membership with you is no longer needed.  I will let mine lapsed, when the time come.  Thank you for saving me some $.
2.  Original Mint Package (OMP) will now be so in demand.  Thank you for bringing the price of OMP up. 


Offline dragondollar

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Re: NCS NGC fees going up!
« Reply #13 on: March 12, 2012, 11:00:39 AM »
Hmm by the way, is it possible to specify what NCS should do? I have a pretty nice 1904 TH Kiangnan dollar which could grade MS60 if not for the fingerprint on it. It is nicely toned as well. If I gave this coin to NCS, I would like them to remove the fingerprint, but keep the toning intact as much as possible. I am afraid to get the coin back all white and shiny...

Offline Panda Halves

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Re: NCS NGC fees going up!
« Reply #14 on: March 12, 2012, 12:22:17 PM »
It is on NCS website. Not sure if the $300 is a typo mistake. Perhaps it should be $3000.

http://www.ncscoin.com/conservation/services_and_fees.asp

confirmed:
Zero omitted is NOT at typo... arbitrarily dropped a zero from their maximum valuation for "modern" tier services. Price change is EFFECTIVE today with a reduction in value of services offered by 10 fold with no prior warning and no formal announcement.