My First 2 Experiences with sending coins to NGC posted by Dharma King

[CSJournals-migration]

NGC is tough, fair and fast

 

Let me start by saying that I am a fairly new modern coin collector. Before I started buying greaded coins I bought bullion. Much of this was mint state bullion in it's original sealed packaging.

 

I have now sent in 20 coins for grading. Included in this was an unbelievably large package of 16 silver kilo coins of the Australian and Mexican variety as well as 5 ounces of gold from China and Australia.

 

Out of the 20 coins I only received two grades of 70. The majority of the grades were 69 and 68 with one 66. I knew the 66 would grade lower due to an abrasion on the Queen's cheek.

 

Fortunately one of the MS70's I received was for a 1999 kilo Lunar Rabbit. This bullion kilo had the lowest mintage of all the lunar bullion kilos at 1958. I am very excited that my MS70 grade makes it a Population of 1. I'm especially pleased because I paid just a bit over melt for the coin. I am segregating this coin with my gold holdings in a most secure location. (I diversify my storage locations).

 

All in all I find that NGC's grading standards are very tough but fair which I like because it adds credibility to my holdings. I am also impressed with their speed in grading.

 

Thank you for your time. DK

 

See more journals by Dharma King

[The Fielding Collection]

Welcome to the society Dharma,

Wow kilo coins 2.2 pounds of silver (am I correct in my thinking of the word kilo?) I have never seen a coin so large. But congrats on your silver and gold holding its something to be very proud of.

I have been collecting for a while now but I started having coins graded at NGC in 2012 I find them to be very friendly and fair. And I hope you find them the same.

I also collect modern coins mostly because they are inexpensive to obtain. And a 2000 proof or mint state coin graded a perfect 70 now will still be a perfect 70 20 years from now. when my son will be sending his kids (if he ever has any ) to college.

we look forward to hearing from you again. And again welcome to the best third party grading service in the world

Happy collecting and may God Bless...Mike

[Kominsky Collection]

Great reply Mike! Thank you!

[mkman123]

dharma king please post pics of your kilo collection!

[Six Mile Rick]

Dharma,

Thanks for posting a pleasant journal on your submissions in the past. I too do a few submissions each year and have found the submissions with NGC to be tough which is a good thing. I also have learned much with each coin sent while examining even closer to understand the grades I get. I believe each submission will make you a wiser collector in time.

 

Welcome ---- Rick

[hunter's gold]

Wow, a top population of 1 on such an impressive coin. Welcome to the chat boards. Would love too see some pics please

[Kominsky Collection]

I'll post some pics when I get them back. They are on their way back from Florida. Cheers! DK

[jpcienkus]

Congrats! DK.

 

I made my first submission late last year. I got 2 body bagged coins (cleaning)on coins I bought on eBay. 2 graded as expected and the third garnered a super slider MS62 grade. It was a 1902-S Morgan with an exceptionally clean cheek and nice fields. They saw a rub somewhere. I'll have some people look at for me before trying to re-submit. Without the rub (which I can't see), it's an easy MS65, possible 66.

 

Anyway, hope to see you participating in the threads and welcome. I really like what NGC has to offer the collecting community.

[Mohawk]

Hey DK,

Hello and welcome!! I completely agree with your assessment of NGC's grading standards....they really are the best in the business!! And thanks for sharing your thoughts on your first submissions. I don't even remember what my first submission was anymore.....I've sent so many, but each one has been an experience.....thankfully, usually a good one.

[yonico]

Wow! That's very nice for a first submission. Heck, that is nice for any submission!

I've seen 1kg silver coins before, but never seen one in an NGC slab. That must be one massive slab! And 5 oz gold coins.. Wow I wish I could afford buying one of these

Very cool and great write up!

 

And @jpcienkus, the reason why you can't see a rub on your coin is that there are no rubs on an MS62 coin. so don't try to find one..

If NGC saw the slightest rub on the high points, they would grade your coin AU-something, as ANY rub or wear would hold the coin back from a MS grade. It's just the number marks/hits and amount of luster that held it from getting a higher grade.

[jpcienkus]

Wow! That's very nice for a first submission. Heck, that is nice for any submission!

I've seen 1kg silver coins before, but never seen one in an NGC slab. That must be one massive slab! And 5 oz gold coins.. Wow I wish I could afford buying one of these

Very cool and great write up!

 

And @jpcienkus, the reason why you can't see a rub on your coin is that there are no rubs on an MS62 coin. so don't try to find one..

If NGC saw the slightest rub on the high points, they would grade your coin AU-something, as ANY rub or wear would hold the coin back from a MS grade. It's just the number marks/hits and amount of luster that held it from getting a higher grade.

 

Yonico, here's the rub, pun intended....

 

I have many Morgans graded MS66 and a few MS67. I also own quite a few DPL's. This MS62 has as clean a cheek as I've seen on any of my coins. Not one contact/bag mark. The fields luster is undisturbed. I can only assume it's a super slider. Too nice for AU58, but small rub, so MS62.

[yonico]

Wow! That's very nice for a first submission. Heck, that is nice for any submission!

I've seen 1kg silver coins before, but never seen one in an NGC slab. That must be one massive slab! And 5 oz gold coins.. Wow I wish I could afford buying one of these

Very cool and great write up!

 

And @jpcienkus, the reason why you can't see a rub on your coin is that there are no rubs on an MS62 coin. so don't try to find one..

If NGC saw the slightest rub on the high points, they would grade your coin AU-something, as ANY rub or wear would hold the coin back from a MS grade. It's just the number marks/hits and amount of luster that held it from getting a higher grade.

 

Yonico, here's the rub, pun intended....

 

I have many Morgans graded MS66 and a few MS67. I also own quite a few DPL's. This MS62 has as clean a cheek as I've seen on any of my coins. Not one contact/bag mark. The fields luster is undisturbed. I can only assume it's a super slider. Too nice for AU58, but small rub, so MS62.

 

Perhaps a weak strik..?

 

PCGS says:

 

For Mint State and Proof coins, the three factors comprising a coin's "technical grade" are:

 

- Number and severity of marks and abrasions

- Luster, or Reflectivity for Proofs

- Strike, which is rarely a problem for proofs and strike is expected to be sharp, a weak strike being a deduction in the case of proofs.

[Kominsky Collection]

I have a 1983 1 oz silver Libertad that is PF66, which is low for a proof imo. It has no milk spots or abrasions but the strike was a little weak. I kick myself for not paying $300 less and buying a PF65 with a huge milk spot because I could have sent it to NCS for conservation and then had it regraded. One cannot cure a weak strike

[jpcienkus]

Wow! That's very nice for a first submission. Heck, that is nice for any submission!

I've seen 1kg silver coins before, but never seen one in an NGC slab. That must be one massive slab! And 5 oz gold coins.. Wow I wish I could afford buying one of these

Very cool and great write up!

 

And @jpcienkus, the reason why you can't see a rub on your coin is that there are no rubs on an MS62 coin. so don't try to find one..

If NGC saw the slightest rub on the high points, they would grade your coin AU-something, as ANY rub or wear would hold the coin back from a MS grade. It's just the number marks/hits and amount of luster that held it from getting a higher grade.

 

Yonico, here's the rub, pun intended....

 

I have many Morgans graded MS66 and a few MS67. I also own quite a few DPL's. This MS62 has as clean a cheek as I've seen on any of my coins. Not one contact/bag mark. The fields luster is undisturbed. I can only assume it's a super slider. Too nice for AU58, but small rub, so MS62.

 

Perhaps a weak strik..?

 

PCGS says:

 

For Mint State and Proof coins, the three factors comprising a coin's "technical grade" are:

 

- Number and severity of marks and abrasions

- Luster, or Reflectivity for Proofs

- Strike, which is rarely a problem for proofs and strike is expected to be sharp, a weak strike being a deduction in the case of proofs.

 

I'll have to check the coin again, but I don't remember it having a weak strike. I'll see if I take some decent pictures of the coin. Most photos if not all the photos I post are the sellers. Good news is that I'm still in a good financial position with the coin even at it's current grade.

[yonico]

Wow! That's very nice for a first submission. Heck, that is nice for any submission!

I've seen 1kg silver coins before, but never seen one in an NGC slab. That must be one massive slab! And 5 oz gold coins.. Wow I wish I could afford buying one of these

Very cool and great write up!

 

And @jpcienkus, the reason why you can't see a rub on your coin is that there are no rubs on an MS62 coin. so don't try to find one..

If NGC saw the slightest rub on the high points, they would grade your coin AU-something, as ANY rub or wear would hold the coin back from a MS grade. It's just the number marks/hits and amount of luster that held it from getting a higher grade.

 

Yonico, here's the rub, pun intended....

 

I have many Morgans graded MS66 and a few MS67. I also own quite a few DPL's. This MS62 has as clean a cheek as I've seen on any of my coins. Not one contact/bag mark. The fields luster is undisturbed. I can only assume it's a super slider. Too nice for AU58, but small rub, so MS62.

 

Perhaps a weak strik..?

 

PCGS says:

 

For Mint State and Proof coins, the three factors comprising a coin's "technical grade" are:

 

- Number and severity of marks and abrasions

- Luster, or Reflectivity for Proofs

- Strike, which is rarely a problem for proofs and strike is expected to be sharp, a weak strike being a deduction in the case of proofs.

 

I'll have to check the coin again, but I don't remember it having a weak strike. I'll see if I take some decent pictures of the coin. Most photos if not all the photos I post are the sellers. Good news is that I'm still in a good financial position with the coin even at it's current grade.

 

that's good..

 

and don't forget there is the possibility of it simply being undergraded and it can upgrade upon resubmission/appearance review submission....

[Kominsky Collection]

I'm not a very good photographer but I finally got my kilo submissions back and here is the MS70 Rabbit - Pop =1

 

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