How Much Does PCGS Grading Cost?
The Professional Coin Grading Service, or PCGS, was initiated in 1985 by seven coin dealers and is owned by the parent company Collectors Universe, Inc. PCGS was formed with the purpose of standardizing coin grading for the use of coin collectors. After all, like any other product, a coin is only worth what somebody will pay for it. Today, the PCGS is now one of the two most popular grading services for rare coins in American numismatics. It has even expanded its service to Europe and Asia.
Grading is a means to determine the physical condition of a coin and therefore its monetary value. People can actually learn how to grade a coin with the aid of books on the topic and through experience. This is also what happened to PCGS. Through extensive experience, the Professional Coin Grading Service has now become an expert in the field and it is recognized for its ability to give accurate grades of coins.
How much does it cost?
- On average, the fees for PCGS coin grading will range anywhere from as little as $12 to as much as $112. The fee will greatly depend on what the coin’s value is, the type of coin, its date and its condition. For example, an economy coin worth less than $300 is going to cost $2o to $25 to grade, while a coin with mint errors can cost $55 to $65 to grade.
- Special issued coins, coins with errors and those worth more than $100,000 are usually going to cost the most to grade.
- If you are a club member, you can submit your coins for grading. PCGS listed its services and fees under the Guarantee Premium page at Pcgs.com.
- Before you can submit your coins for grading, the Professional Coin Grading Service requires you to be a member of its Collectors Club. Annual membership fees are as follows:
- Silver — $49
- Gold $129
- Platinum — $199
- Diamond — $299
What is going to be included?
- Coins are graded from Poor, for extremely worn out, to Perfect Uncirculated, for coins that are absolutely no wear and no flaws of any kind.
- Uncirculated refers to coins that have been properly stored since the day they were minted.
- Most of the coins fall under the categories between Poor and Perfect Uncirculated.
- The grades that come in between Poor and Perfect Uncirculated are called by the following terms:
- Extremely Fine
- Very Fine
- Very Good
- About Good
- Fair Poor
- When you request to have coins graded, you will be told a “turnaround time.” This time is the approximate number of days that it will take for them to give a report on your coins. Turnaround time is calculated in business days and is simply an estimate; it is not guaranteed.
- Except for Silver, club members can get a voucher for a number of coins that can be graded for free.
- Also as a member, you will have easy access to other coin collectors as well as coin shows and galleries.
What are the extra costs?
- Apart from the grading fee, PCGS charges an $8 handling fee for each submission of coins.
- A $2 shipping fee per box will also be charged against you when you are using your own shipping account.
- Also, do not forget that you have to pay an annual membership fee to their association.
Factors that influence the price:
- The primary factor that affects the value of your coin is its grade, and its value in turn helps to determine the price of grading.
- The fees you have to pay for submission of coins depends on the type of coins you submit, their declared value, and the estimated turnaround time.
- You level of membership can affect your cost of coin grading.
Tips to know:
- In case a coin is not gradable and yet found to be genuine, there is still the chance for it to be encapsulated under PCGS’ Genuine Service.
- PCGS classifies three different Genuine options, namely the Genuine with Details (default), Genuine no Details and Do not holder Genuine-only coins.
- It is highly recommended that you insure your shipment to the company so that if the coin is lost, the insurance will cover it.
- Unless you plan to participate in coin collectors shows or sell you coins, having them graded is not actually necessary. You can get an approximate price from any coin grading book or website.
Questions to ask
- Can I save money if I sign up for club membership?
- Once I signed up for club membership, when can I start submitting my coins for grading?
- What does crossover submission mean?
How can I save money?
- Verify and compare the rates between directly becoming a club member at PCGS or by just submitting your coins to PCGS authorized dealers without becoming a member.
- Send your coins in bulk to save on shipping and handling costs.
- You can also take advantage of PCGS gift cards.
- If you are an avid coin collector, consider learning how to grade coins yourself. This can not only save you money, but could potentially earn you money as well.
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