NGC Guide out there?

Discussion in 'Modern Chinese Coins & Medallions' started by Ryaneod, Aug 9, 2012.

  1. Ryaneod

    Ryaneod New Member

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    I spent some time searching the fourms and I can't seem to find it so I was wondering if one of our "Panda Peeps" would be so kind as to type out a quick, How to get coins NGC graded type guide. Or maybe a lessons learned on doing NGC grading. I want to start gambling with buying sheets of Panda's and getting them graded to see what I get, but I don't want to make the same mistakes if others have made them and would be willing to share. Thanks for any help!

    Ryan
     
  2. silverfever

    silverfever New Member

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    Right now with the drop in MCC prices, IMHO it is cheaper to buy a graded 69 coin than to go through the hassle of submitting a raw coin.
     
  3. Ryaneod

    Ryaneod New Member

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    Silver, I am thinking more like getting 10-15 OMP's, grading them all, keeping the best one for my collection and selling the rest . . . . would cover the grading and cost of the one I kept and possibly if I get a couple 70's I might make a bit of coin to re-invest.
     
  4. Thor122

    Thor122 New Member

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    + 1.

    But if you like try buy from yennus or jc888888 the omp coins.

    If you read old post you have my stadistics in my grading
     
  5. silverfever

    silverfever New Member

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    If you are thinking about the newer issues like the 2011 and 2012 pandas, pretty much a no go. You can pick up a 2012 MS 69 Panda now for around $50.00. Cost of NGC grading and shipping is approx $20.00 a coin. That is like buying OMP for $30.00. You won't be able to find anyone selling OMPs for $30.00. Don't forget ebay and paypal fees, your cost basis for a MS 69 2012 panda has to be in the mid-high $20s just to break even...

    The 2012 Mt Wutai is another good example with MCM selling a PF 69 for $299. That would mean you would have to buy a raw OMP coin for around $275-$280 and you are not even guaranteed to pick up a 69. If you are unlucky you may end up with a 68. I am tempted to get one but I will wait for MCM to start listing them on ebay and hopefully get one for cheaper...

    I am also waiting for MCM to start releasing some graded ANA 2012 medals before I take the plunge. I have learnt my lesson with the Singapore World Money Fair Panda Medals. :(
     
  6. Ryaneod

    Ryaneod New Member

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    Silver, is the problem that there are TOO many 69's out there . . or just not enough interest in those 69 that are out there?

    FYI - I bought the MCM PF 69 Mt Wutai today . . ;)
     
  7. Thor122

    Thor122 New Member

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    Now the mcc market is weak. Its a good buy oportunity.
    Im too im waiting to pick a 1 oz philly in ms69 for less than 200
    With the singapore i have lucky the 5 oz go in pf69
    And the 1 oz one 69 and one 70. If i will have two 69s i spend less in buying in 69 than omp and grading it.
     
  8. silverfever

    silverfever New Member

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    IMHO the mintage of the new issues are high and too many dealers have tried to cash in and submitted tonnes of coins in for grading. I also suspect that a large retailer like MCM is probably buying the Mt Wutais in the low $200s and combined with their bulk NGC submission discounts, you cannot beat the efficiencies MCM is able to achieve with their economics of scale.

    Also who knows what MCM is paying for those 2012 Ana medals? $100 a medal wouldn't be a stretch to the imagination.
     
  9. yennus

    yennus Well-Known Member Silver Stacker

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    Comeaux is the man when it comes to how to submit stuff to NGC. He was the person who helped me with my first submission (thanks Panda bro!).

    Definitely start looking at LOTS of Panda coins if you want to start submitting to NGC. This is not always easy in the US. But in China it is much easier.
    [imgz=http://forums.silverstackers.com/uploads/675_1995mdst.jpg][​IMG][/imgz] <-- A sheet of 1oz Silver 1995 MicroDates.

    Look at as many older Pandas as possible. Then you'll see the range of coins and the range of possible issues. I started by submitting everything, even the crap ones, to have a better understanding of NCS capabilities. Some toning is fixable, some toning isn't. Some spots can be removed, some cannot.

    I've been blessed that there is BARGAIN hunters market for low grade (below MS68) Pandas. Expect to lose a little on anything less than 68/69.

    Also be prepared to pay a lot for an education in picking perfect bears. I've submitted a lot of coins that I thought would do well, but graded low (and vice versa).

    Also be prepared to start learning the art of "guanxi" when hunting in China. Without "guangxi" you're likely to be looking at the same batch of coins that many others have picked through and rejected. However, with some favor from above, they'll dig deep into their safe/tardis and bring out a fresh sheet of Pandas that they normally don't sell/display.

    As with anything, practice, practice, practice. :)

    Whenever you get a MS70 it feels fantastic! :)

    [​IMG]
     
  10. Justfishin

    Justfishin New Member

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    Yup, I have done exactly what you are saying. Unless you plan on holding for multiple years, profits are hard to come by, with graded coins being so cheap now.
     
  11. jc888888888

    jc888888888 New Member Silver Stacker

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    Ryan, guangxi you need that in the US too :) someone just tried to sell me a micro sheet,looked like that one:) wanted crazy money for it.....................
     
  12. comeaux

    comeaux New Member Silver Stacker

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  13. musemellow

    musemellow Member

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    If you are buying online, find a dealer that you can trust first before you buy the coins, ask for high resolution picture of the pandas (not just 400x600 pic from ebay) or even better try to see the coins in person :)

    Big dealers won't sell good coins in OMP if they can send it to NGC and get sure-win results (MS69-70, better returns)
    i.e. why would a dealer sell coins in OMP when it has potential to get good results out of NGC if he submits it himself?

    Graders experience/consistency is taken into consideration when you submit your coins, but if you can make sure that you purchase quality coins, NGC submissions shouldn't be much of a gamble

    Take a look at this thread and see the helpful guide from Comeaux on 2nd page,
    http://forums.silverstackers.com/topic-16364-qa-getting-coins-graded-page-2.html
     
  14. Ryaneod

    Ryaneod New Member

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    Another stupid question, can we all buy the Panda's directly from the mint, so we know the OMP is valid?
     
  15. comeaux

    comeaux New Member Silver Stacker

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    [​IMG]
     
  16. comeaux

    comeaux New Member Silver Stacker

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    [​IMG]


    Hey you could buy Panda America ! Then you could buy from the Chinese mint ! :D

    nah ... just pickin on ya, you cannot buy directly from the Chinese Mint
     
  17. musemellow

    musemellow Member

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    China mint? I don't think we can
     

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