Anyone with experience with on site grading?
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13 posts in this topic

I'm am just starting to get into the field of currency collecting and wanted to see if anyone had any experience with on site grading at one of the trade shows?

 

I went through all the FAQs but still have some questions.

 

1) What is the guaranteed turnaround time at the show?

I would imagine there is a cutoff period at some point where they can't complete grading for pick up at the end of the convention.

 

2) Is there a maximum number of items 1 person can submit?

 

3) Is there a preprinted PDF form one can complete in advance of the show?

 

Any advice from experienced collectors would be appreciated.

 

Thanks

Cheers!

N

 

 

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1) Depends on when you submit at the show. How long the show is...

 

Assuming a three day show, and the service is not flooded, you might get the notes returned in 1 1/2 days. They usually have a cutoff time as to when they could not complete the grading.

 

2) You can submit all you want.

 

3) I'm sure all services have preprinted forms online.

 

If you pre fill out the forms and mail them in, you could also have the notes picked up at the show and you won't have to worry about not getting them graded.

 

Vinny

Edited by vcavo
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Vinny

 

Thanks for the reply. I tried contacting the grading services but have not received any replies. I'm sure everyone is busy but after 1 week, I figured I would contact the collector community directly.

 

I was considering attending one of the longer shows like ANA World's Fair of Money in Baltimore (5 days) to avoid missing the cutoff for on site grading.

 

Obviously, I will factor in market value of an item along with a grading service's fees to decide if it's worth submitting. I also figure if I pick up an unslabbed item at the show, I could submit the item for grading right then and there. If it's a low ticket item, I agree that mail in service using economy grading would suffice.

 

PCGS has a PDF form online. I could not locate one for PMG. I know It would be more efficient if I completed the forms in advance of the show.

 

I collect comic books and original comic art but am obviously a newbie to coins and paper currency. So thanks again.

 

If anyone else has additional insights to on site grading, I would love to know more.

I would also appreciate it if someone from the grading services could confirm.

 

Cheers!

N

 

 

 

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I would like you to submit your notes using my dealer number. That will allow PMG to grade them for you. email me at vcavo@bright.net and I'll pass that number on to you and let PMG know about your submission. You can also call PMG at 1-800-PMG-5570 and have them send you the forms.

 

I prefer PMG over other services because of the premium that is places on PMG graded notes in auction.

 

Vinny

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Thanks again V.

I will probably sign up for a collector's society membership (or ANA) to get submission rights in the near future but I will definitely consider your offer and pm you. It is much appreciated. :grin:

 

I am still in the process of educating myself and I think attending some shows will be a great start.

 

Cheers!

N

 

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Also remember that on site grading is very costly. I don' know what the rates are for paper money but it is probably comparitable to that of the coin grading which means $100 to $200 per item.

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If you want it back the same day or next day turnaround then yes you get charged the walkthrough rate (or sometimes an even higher show walkthrough rate) If you are just dropping it off and they will send it back to you later then you just get charged the regular rate and save half the shipping and insurance expense.

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Thanks Conder

 

Yes, I was aware of the higher fees based on the published price list. I would only consider on site grading for a high ticket item with minimal circulation.

 

Cheers!

N

 

 

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It's not $100 to $200. That might be if you have a $50,000 note. I've never seen more that $100 for 24 hours. However the "show price" might be $40 to $75, I would guess.

 

 

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I looked at the PMG fee rates and a show would be 24 hr walkthrough and it is $125 for notes valued UP TO $50,000. Over $50,000 it goes up

 

WalkThrough 24 Hour Service

$125 U.S. notes valued up to $50,000.

$175 U.S. notes valued $50,001 to $100,000.

$250 U.S. notes valued $100,001 to $500,000.

$600 All U.S. notes. Unlimited value.

 

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