CGS submission form query

[azda]

Just a curious question to those who have used them before. On the Submission form on the right Hand side it gives you an example of Denomination and variety etc, in there it gives also value, this is where it gets confusing.

The value of which i bought coin X was 60 euros, now if they grade it at say UNC and its a variety of which in their UNC its valued at 500 GBP. Now, for coins valued at 200 GBP or less the Price is 13,75 GBP but over 200 GBP is 23,75 GBP.

So i'm assuming you add the value of which you bought the coin because their value cannot be brought into the equasition because it's not been graded.

cgs_submission_form.pdf

[Coinery]

i think it's what the actual value of the coin is, which is ambiguous I know. They charge you according to the value of the coin, so buying a Una coin from an old dear for a tenner isn't going to wash with them.

I agree, I found/find that part of the submission process a little odd...but then it would have to be, wouldn't it? It is a coin grading company, after all!

[azda]

So what if i also sent the invoice for the coin that states i paid the 60 euros, how could they then increase the price when the can see the price paid.

[Rob]

Charging more just because a coin grades higher represents a conflict of interest unless the additional cost is solely accounted for by the extra insurance required for shipping. If they need to earn an extra tenner, all they have to do is give it a higher grade.

[PWA 1967]

Dont pay until you get an invoice,just ask them to mail you the final bill.

[azda]

You must add all costs on the submission form

Though Pete

[Rob]

What's the expected added value from slabbing?

[PWA 1967]

I never have ,i dont tell them anything even if the coin has been graded before and just ask for an invoice.Just tell them you will pay but wasnt sure how much.

[azda]

Well if it came in at UNC grade Rob, their value of the 1960 1*+A halfpenny is £500 I paid 60 euros for it

Edited May 3, 2015 by azda

[PWA 1967]

That must be a typo dave ?

[azda]

Lol yes, meant 1860

[sound]

Dave,

I think if you underestimate the value they will ring you so that they can make an extra charge.

Mark

[azda]

Is'nt the value your purchase value though, this is what is confusing, so if a copy invoice of the purchase was sent, how could they then increase

The fee?

I know its a technicality but you could be spending more money than you in theory should be.

The other point could be made if you overvalued it over the £200 threshold and that was your purchase price, they then grade it at less but yet you've paid £23,99, will tgey tgen take less? Lol

Edited May 3, 2015 by azda

[Rob]

The problem is the value they assign based on the grade given. If this was a fair reflection of the open market value of the item then there would be less of a problem, but as this figure is routinely at a significant premium to what the market says, then it is open to abuse. All I see is a tail desperately looking for a dog to wag.

I would be much more accepting of the business if the fee was a flat rate number whatever the value as this would remove any potential conflict of interest because it doesn't cost more to ascertain a grade based on market value. Flan size or intricacy of the design might make the job marginally more demanding, but not significantly so. By saying the cost of grading is coin value dependant is essentially the same as saying we will take more care getting it right. Low value = common= something not worth spending time on as you can always get another one with the weekly shopping.

The cost of shipping a more valuable object is going to be greater. That is the only excuse for an increased charge.

[sound]

Unarguable I would have thought Rob.

Which is why, what is arguably an alternative approach to grading with some merit, is nothing more than a marketing excessive.

Mark

[azda]

It might be easier to say WE grade coins from say 1850 at the lower rate and before that at the higher rate, to make it value dependant is a Little curious

[Rob]

It costs the same to grade a 1967 penny as it does a 1676 halfcrown. If the job is being done 'professionally', they should spend the same time looking at a coin irrespective of value, age or whatever. If this time spent is actually value dependant, then a fool and their money are soon parted. Tiered charging essentially removes the act of grading from the equation as the cost of slabbing is clearly not dependant on the time spent doing so. If you remove that central plank, what are you buying?

[azda]

Well i'm going to send it in at the lower level as i paid less than £200, only reason being is that if I sent it elsewhere it would just come back as an 1860 halfpenny and not the rarer 1* + A that it is

I also noticed on their website that it takes up to 30 to turn around a hammered coin yet up to 90 days for milled, I would have thought hammered had more diagnostics to take into consideration than a milled and would therefor take longer

Edited May 3, 2015 by azda

[Rob]

Well i'm going to send it in at the lower level as i paid less than £200, only reason being is that if I sent it elsewhere it would just come back as an 1860 halfpenny and not the rarer 1* + A that it is

Oh dear, oh dear, oh dear. There's nothing like submitting a coin to gain the assurance that you've submitted a coin. I know that it is each to their own, but given the failings that so many take or acknowledge as normal service, just what do people expect to achieve from spending the money involved, given you can buy slab cases for considerably less expenditure should protection be the reason for slabbing in the first place?

Edited May 3, 2015 by Rob

[Coinery]

TPGCs just ain't worth the conversation, as it always degenerates into the farce that slabbing is!

Surely the type of buyer who is going to be buying a 1*+A is going to know for him/herself whether it is or not?

Do you mind me asking your motive, Dave?

[azda]

Well at 60 euros it was a great price, but obviously the dealer did'nt know what. He had which we could then turn the arguement around and say obviously not everyone knows the variety. I'm only trying to get the submission fee correct as it seems a bit cloudy and am not getting into grading companies and grades etc

If I was to pop my clogs tomorrow and the Frau had to get rid then who's to say another dealer or buyer who actually does know what it is makes a low ball 60 euro offer. For the British varieties its better in my eye to have this done this way to maximise it's potential regardless of whether I dislike TPGs or not (I'm sure most of you know my thoughts on them)

It's like having a large estate but no will, just looking out for any future eventualities

[Coinery]

Fair enough!

[Prax]

Dave, When I send my coins for grading I look at it this way - How much would I expect to get paid if the coin were lost in their possession. I have not heard of it happening but what if it were lost and they say "ok we will compensate you"

On another note I would not want to come across as someone who was trying to pull a fast one

Edited May 4, 2015 by Prax

[Prax]

Lol yes, meant 1

Lol yes, meant 1860

Wow lovely coin

Edited May 4, 2015 by Prax

[azda]

And another reason to send Prax