For a number of reasons I decided to start having my coins certified and graded by NGC. That is not a discussion I want to get into here. However, I did want to share my first impressions based on the batch of 20 coins I sent in.
First, cost. I chose the elite level of membership because of the ten percent discount. Cost per coin is $35, less 10% plus shipping for the standard turnaround time. So probably around $40/coin. You can do an economy grading tier which is $20/coin less the 10% and I will use that for a number of my coins.
Second, turnaround. I sent the coins by US priority mail on the 24th August and, according to their system, the grading has been finalised and I should get them back towards the middle or end of next week. So approximately two weeks door to door.
Third, grades. I am both happy and unhappy but I completely understand where they get the grades from. 11 of the 20 were graded MS62 or better with a high spot of MS66. There were four AU 58 and one AU 53. There were also four 'details', one for a scratch and three for hairlines. While the grading is strict, when I look closely at the coins I can see where they get that from.
Conclusions.
Where you buy your coins matters if you cannot see them 'in hand'. Coins I bought from Glendinning's in the past and DNW in the past few years consistently did better than coins bought elsewhere (not counting Heritage where they are already slabbed).
Three of my four 'problem coins' came from London Coins. Not to beat about the bush, their photography flatters to deceive and their descriptions are, shall we say, 'economical'. Unfortunately, my bids are already in for this next auction but that will be the last one of their auctions that I buy from.
Clearly, DNW has a more rigourous and professional approach when it comes to grading and describing coins than LCA.
Furthermore, buying from a named and known collection also gives better results. My MS66 came from the Late Neil B. Todd Collection which DNW sold. Provenance does matter.
The other lesson is to examine carefully the coin before I send it in. No point paying good money for grading a coin that has problems.
I did not send my best or most valuable coins in this first batch as I didn't know what to expect. However, I think their process is pretty good and I am comfortable sending other coins to them.