NGC, NCS and PMG Munich Location to Update Submission Process on February 15, 2018
Posted on 1/30/2018
NGC International GmbH (NGC GmbH), the German affiliate of Numismatic Guaranty Corporation® (NGC®), Numismatic Conservation Services® (NCS®) and Paper Money Guaranty® (PMG®), has announced several updates to its submission process that are effective February 15, 2018.
Most notably, submission fees will be priced in euros instead of US Dollars and will be inclusive of German Value-Added Tax (VAT). (VAT is charged only when applicable; see details below.) This change is intended to make it easier for individuals and companies in Germany and throughout the eurozone to submit for NGC grading, NCS conservation and PMG grading.
With the change to euros, all payments on and after February 15, 2018, must be made to NGC International GmbH (NGC GmbH), the wholly owned German subsidiary of Numismatic Guaranty Corporation International, itself a wholly owned subsidiary of NGC. Detailed payment instructions will be posted to NGCcoin.de/Payment in the near future.
These two changes come as NGC, NCS and PMG are investing in an expansion of their expert services in Germany. An NGC on-site grading event will be held in Munich, Germany, February 27 to March 3, 2018, and additional on-site grading events are planned for later this year.
The new Europe Submission Forms will be available under the "Submit" menu on NGCcoin.de for paid collector members and Authorized Dealers.
Submitters are advised to not to use the existing US Dollar Europe Submission Forms for any submission that will be received by NGC GmbH on February 15, 2018, or later. All submissions for the NGC on-site grading event in Munich must be made using the new Europe Submission Forms with fees in euros.
Questions? Contact NGC GmbH at Europe@NGCcoin.com or (+49) 89 255 47 545.
NGC GmbH VAT Collection
NGC GmbH submission fees include 19% German VAT. If a submitter is not required to pay VAT, the submitter will be billed by NGC GmbH for the net fees, excluding VAT.
Example. The published grading fee for the Express tier is 80 euros (including VAT). If a customer is not required to pay VAT, they will be billed 67.23 euros by NGC GmbH.
The following chart explains when VAT is collected:
Note: Private customers are as applicable under § 3a Abs 3 Nr 3 c USTG; companies/entrepreneurs are as applicable under § 3a Abs. 2 USTG.
A company/entrepreneur will be required to provide NGC GmbH with their VAT ID Number.
Related link NGC to Grade Coins On-site in Munich in February