[NEWS] NGC Price Update

Discussion in 'Modern Chinese Coins & Medallions' started by yennus, Mar 12, 2012.

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  1. yennus

    yennus Well-Known Member Silver Stacker

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    Here is an excerpt from one email:

    A. Standard conservation with grading. Conserve all coins and submit to NGC for grading.*
    B. Standard conservation and return raw. Conserve all coins and return without grading*
    C. Modern conservation with grading. (Any uncertified us or foreign coin 1970 to date, valued $300 or less) Modern fee is $26 50/coin, includes conservation and grading

    *What this means is for coins valued above $300 we will have to pay 1% for evalation, plus 4% for conservation, plus grading fee between $14-$50 depending on the coins value. So a $3000 coin will cost $180 for conservation and grading vs $22.50 last year and $26.50 in January/Febraury.

    STANDARD CONSERVATION FEES:
    1. Evaluation Fee: 1% of declared value per coin, minimum $5. Service Description: Item examined by a conservation expert to determine what conservation work, if any, should be performed. All graded coins, excluding details and genuine holders, will be returned as is if conservation is not performed, and only the Evaluation Fee will be charged by NCS. Coin(s) holdered by any service other than NGC or PCGS will be treated as raw
    coin(s) and removed from their holders. In order to submit coins that are in holders other than NGC or PCGS, you must initial section 5, Conservation Services, on the front of this form confirming you have read the terms and conditions regarding the Consent to Remove Coin(s) from Holder(s) information below, prior to any work being performed by NCS. Coins that are in either NGC or PCGS holders and cannot benefit from conservation will be returned and the customer will only be charged the 1% evaluation fee.
    2. Conservation Fee: 4% of declared value up to $150,000 per coin, and 2% of declared value over $150,000 per coin, minimum $15.
    Service Description: Appropriate conservation is performed.
     
    yennus, Mar 12, 2012
    #1
  2. серебро

    серебро New Member

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    [​IMG]
     
    серебро, Mar 12, 2012
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  3. comeaux

    comeaux Member Silver Stacker

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    I also heard this possibly could be retroactive as of March 1st :(

    Oh well on the bright side I already have 100's graded and was slowing down and being more picky but this price hike really seems a bit steep.

    I think this will logically increase the value of graded coins ...
     
    comeaux, Mar 12, 2012
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  4. comeaux

    comeaux Member Silver Stacker

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    I must be behaving badly as this is my second thread that got moved tonight ! :D
     
    comeaux, Mar 12, 2012
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  5. yennus

    yennus Well-Known Member Silver Stacker

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    ahhaha... so true ...

    NCS/NGC certainly has a service that will be hard for competitors to beat... even at these incredibly high prices.

    NCS/NGC must be doing exceptionally well, considering they just made their services incredibly incredibly expensive...
     
    yennus, Mar 12, 2012
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  6. yennus

    yennus Well-Known Member Silver Stacker

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    Hahaha... on the contrary, you are doing well! This post deserved *special* attention! :)
     
    yennus, Mar 12, 2012
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  7. серебро

    серебро New Member

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    The knock on effect will be as others have already noted the cost of buying graded coins will go up. And I am sure that alot of dealers will pass on the increase to coins graded even before the price rise
     
    серебро, Mar 12, 2012
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  8. yennus

    yennus Well-Known Member Silver Stacker

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    ARgh!!! I don't have enough graded yet!

    I was about to send in a lot more Pandas this week!!!

    But you are quite correct Comeaux... this move will likely drive up the prices of NCS/NGC coins.
     
    yennus, Mar 12, 2012
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  9. fishball

    fishball New Member Silver Stacker

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    I wonder how they will determine coin value.

    The MCC scene is highly volatile and there is no real way to determine coin value on the rarer coins or medals.
     
    fishball, Mar 12, 2012
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  10. comeaux

    comeaux Member Silver Stacker

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    Well jump on the deal I just posted for the three 70's before they are gone ! :)
     
    comeaux, Mar 12, 2012
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  11. серебро

    серебро New Member

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    [​IMG]
     
    серебро, Mar 12, 2012
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  12. low

    low New Member

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    Based on declared value.
     
    low, Mar 12, 2012
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  13. серебро

    серебро New Member

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    So what happens if they dont agree on the value you declare? Or as we all know many coins and medals prices are all over the place.
     
    серебро, Mar 12, 2012
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  14. fishball

    fishball New Member Silver Stacker

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    Yeah that's what I think too.

    But when you are charged by how much you declare, people are going to lowball the values.
     
    fishball, Mar 12, 2012
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  15. comeaux

    comeaux Member Silver Stacker

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    I would be careful with that though what if you say your coin is worth $1,000 when it is actually worth $1,500 and then something happens where you want to use the guarantee?

    Maybe then they say that your $1,500 coin is only worth a $1,000 ? ... I dont know just speculating
     
    comeaux, Mar 12, 2012
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  16. fishball

    fishball New Member Silver Stacker

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    Well I'd bet my God of War was 'worth $150' 2 years ago when NGC graded it or less.

    Pretty sure they'd have to give me fair market value (maybe 80%) now if I went in and questioned their guarantee.

    The only thing that we can be certain of is, this is a mess.
     
    fishball, Mar 12, 2012
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  17. comeaux

    comeaux Member Silver Stacker

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    Hey what is someone is playing "April Fools" on me in March ! :|
     
    comeaux, Mar 12, 2012
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  18. comeaux

    comeaux Member Silver Stacker

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    Just kidding ... it's from a highly reliable source, only a few levels down from god :D
     
    comeaux, Mar 12, 2012
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  19. heyimderrick

    heyimderrick Active Member

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    Time to boycott.
     
    heyimderrick, Mar 12, 2012
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  20. Zinger

    Zinger New Member

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    Surely this is a typo?

    It used to be $3000 or less?

    Maybe $1000 would be a resonable level, but such a drastic shift completely changes the game.

    p.s. is it mental they are charging such a premium and still refusing to designate conserved coins.
     
    Zinger, Mar 12, 2012
    #20
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