How do estimate value of coin being sent for Grading? 0

[Richard C. Waters]

How does one determine the fair value of coin that is submitted? I am sure I filled the submission form out incorrectly can NGC correct my mistakes?

[Coinbuf]

If there is a problem with the value in the opinion of NGC they will contact you and discuss options.  When sending in I always use the price I paid as that is the only amount the USPS and/or any third party insurer will pay you in case of loss.  If your concern is that it will grade higher (making the value of the coin higher) then the tier you have selected pay close attention to your submission and once grades are posted you can contact customer service and have the value of the shipment adjusted for the return shipping insurance.  In reality that does happen but far less than most hope for.

 

If you are really concerned and have not sent the coins you can contact customer service and walk through your form to help you get it correct before you send it.

[Richard C. Waters]

Thanks for your reply. I have already sent the coins. I printed the submission form off before I knew about being able to do it online. But I did send the online form to try and correct the mistakes that I made. I sent all under economy before knowing what I was doing. Two of the coins were worth more than the 300.00. Is it best to send just a few coins at a time or send my whole collection of Morgans which is 43 coins?

[Coinbuf]

It comes down to personal preference, there are pros and cons to sending them all or just a few at a time.  By sending them all at once you are spreading the fixed costs of shipping (both ways) and handling fees over a larger number of coins which reduces the per coin cost of submission.  However there is greater risk of loss if your one package is lost or stolen in transit, the old having all your eggs in one basket.  Not trying to worry or scare you but every now and then packages have gone missing so while the chances are minimal it is a real risk.  Its really up to you to decide which way is better and more comfortable for you.  One tip is that if your sending them all be sure you only send by registered mail (assuming your sending via the USPS), it is the safest and most secure method the USPS offers.  Honestly registered is the only way I ship as it lessens the risks, takes longer than priority but I feel better with the added safety.  As you have sent in one group I would wait and see how these grade, in other words use these as a test to see how your expected grades compare  to the grades NGC assigns.  You can then decide if your ready to go all in or reevaluate the idea.

At any rate best of luck with your current submission as well as any future submissions. 

[Richard C. Waters]

Thanks again. That is what I thought for sure and yes I sent registered mail and only sent 4 coins. I may increase that to 10 the next time. What I have is 43 Morgans that have not been circulated! Most are excellent quality but I have to weight what I think they will grade against cost before sending them in. Thanks for your help I have been collecting for a while but this will be my first experience with having them Graded. I have one coin that I could not find it is 1900 Morgan O/S mint and there was no listing in price guide?

Edited August 10, 2020 by Richard C. Waters

[Coinbuf]

That's because there is no such thing as a 1900 O/S

[Richard C. Waters]

That what we thought as well but after placing it under the microscope at least 3 people saw what I saw which was an O stamped over S so that is one I sent to NGC!

[Coinbuf]

Unfortunately as that is not a recognized overdate/VAM I suspect that NGC will grade and holder it as a 1900-O with no mention of the S.  You would need to send it to be authenticated and once you have done that process then you could have it regraded in a new holder as a discovery coin.  I have never done that authentication process but I'm sure its long and not without some cost.

 

As a side note you might want to look into a third party insurance company like Ship and insure as you have a large number of coins to send in it could save you some money, worth a look anyway.