PMG, NGC and NCS Updates Submission Process at Munich Location
Posted on 3/13/2018
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 were effective February 15, 2018.
Most notably, submission fees are now priced in euros instead of US Dollars and include 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 have been posted to NGCcoin.de/Payment and PMGnotes.de/Payment.
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 was held in Munich, Germany, February 27 to March 3, 2018, and additional on-site grading events are planned for later this year.
Submitters are advised to use new Europe Submission Forms with fees in euros (not dollars) for any submission that will be received by NGC GmbH after February 15, 2018.
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 NGC 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.