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POLL: Buying raw coins from Stack's sight SEEN, do you agree or disagree with this statement?
dorkkarl
Posts: 12,691 ✭✭✭
This statement was made in the now famous BigE thread:
<< <i>Don't think your gambling much with folks like Stacks though. >>
provided a competent collector is making a SIGHT SEEN purchase, do you Agree or disagree?
K S
<< <i>Don't think your gambling much with folks like Stacks though. >>
provided a competent collector is making a SIGHT SEEN purchase, do you Agree or disagree?
K S
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Comments
Aside, DK, I find it a little bit confusing as presented.
<< <i>I think their expertise at selling coins will always exceed by ability to evaluate them, and therefore, you are gambling buying raw coins from Stack's.
Aside, DK, I find it a little bit confusing as presented. >>
sorry about that. this is the 1st poll i have ever even attempted on here. my apologies if it's screwed up. the point i was trying to make is that the "other" poll was not correct, since it stated a sight-UNseen purchase, which is not what big-e did.
again sorry if the poll is messed up - it looks different on my screen then expected, so i dunno what i did wrong setting it up.
K S
<< <i>So you are considering that a coin with a pic which is purported to look ot at all like the coin in hand constitues a sight seen purchase? >>
no, i am not. here is the sight-SEEN purchase that took place:
big-e saw a digi-pic of a coin online
big-e bought the coin
big-e received the coin in person & had THREE DAYS to examine it before being committed to it, ie he had an option to RETURN it
if you buy a coin & have the option to return it, then you are allowed to review it IN PERSON, & that constitutes a SIGHT SEEN purchase
K S
<< <i>IIRC that return policy was extremely limited in scope and was not a "if not satisfied for any reason" sort of thing. It was just enough to get them off the hook if the coin turns out to be counterfeit or not genuine. Otherwise its little better than no return policy at all. It really does not matter to me as I have no plans to purchase coins from Stacks, raw or otherwise. >>
What is wrong with this right of return? It looks normal (if a little short maybe) to me. (Quote from Stack's TOS)
<< <i> Mail, FAX and Internet bidders may make return requests within three days of the receipt of the lot. Coins must be returned to Stack’s offices in Wolfeboro, N.H. within 30 days from the date of the auction. Any coin which has been physically altered or removed from its container or holder shall not be returnable nor accepted by Stack’s. >>
Admittedly, they do say that TPG certified coins have no right of return other than in questions of authenticy. This also is standard with many sellers/auctioneers.
<< <i>A newbie collector or dealer that is not that good with grading( there are a lot of these guy's too) it would be suicide to buy anything raw with a high value sight seen or sight unseen. >>
i totally agree w/ this statement.
i am also under the belief that big-e is a competent collector.
K S
"If the coin belonged to Stack's or a good consignor and/or the buyer wasn't a big client, do you think they would allow a return? If a winning bidder caught Stack's at the wrong time of day and/or the wrong person received the return request, do you think they would allow a return?
Buying coins via auction amounts to sight-unseen bidding."
With the last statement, he intends this only if you have not personally inspected the coin prior to bidding.
<< <i>"If the coin belonged to Stack's or a good consignor and/or the buyer wasn't a big client, do you think they would allow a return? If a winning bidder caught Stack's at the wrong time of day and/or the wrong person received the return request, do you think they would allow a return? >>
we have no way to answer that, of course. stacks would have to answer that. i only got my own experience to go on , which is that i have successfully conducted a return w/ stacks.
<< <i>Buying coins via auction amounts to sight-unseen bidding." With the last statement, he intends this only if you have not personally inspected the coin prior to bidding. >>
i don't see what the timing of the inspection vs. the bid has to do w/ anything at all. if i inspect the coin AFTER bidding, & am allowed to return it for a refund, it still appears to me to be a sight seen transaction (per the other thread where i posed my 5 step scenario)
in the most ridiculous extreme, i could randomly bid on a bunch of coins in a auction w/out even reading the catalog or even knowing what i'm bidding on. if after i get the lots & decide which 1s i want or not, the auction house allows me to make returns, that is STILL sight-seen!
the timing that matters is when the $$$ commitment becomes "final". if the timing is such that the commitment comes after viewing, whether it comes after bidding or not does'nt matter.
K S
If the statement were:
"Mail, FAX and Internet bidders may make returns within three days of the receipt of the lot."
instead of
"Mail, FAX and Internet bidders may make return requests within three days of the receipt of the lot."
I would feel a lot more comfortable with the return policy, and bidding on raw coins would approach sight-seen conditions. My own personal experience with customer service at Stack's has been less than optimal, and based on this, I am uncomfortable bidding on coins in their auctions without personal inspection (or inspection by the representative of my choosing).
K S