Im glad the dealer stood behind his sale but id be a bit hesitant to crown him. If selling a counterfeit coin and willingly accepting a return makes him look lets say “respectable” or “stand up” and selling a counterfeit coin without having to deal with a return because of an unsuspecting buyer results in a profit to him then it seems like its a win-win for him. Its common knowledge these $3 coins are counterfeited often a dealer getting fooled is iffy to me id tread carefully with him in the future.
That said everyone makes mistakes and this could be one.
If the coin is raw but could sell for much more in a slab, maybe ask yourself why it isn’t already in one. This doesn’t always apply for bullion, but any coin with a significant numismatic value is most often not wearing a slab because it doesn’t deserve one.
@golden said:
Please learn from this. Next time you might not be so lucky. Wishing you the very best.
Oh I will. Next time I buy a price coin raw it's only gonna be after I spend hours studying it and or it's from a reputable dealer.
I bought a Byzantine gold piece raw from a "reputable" B&M dealer in a neighboring county many years ago, along with a handful of certified darkside coins. Prior to visiting his shop, I knew zilch about Byzantine coins, but it caught my eye. After owning it for a couple years, I took it to Long Beach to sell. The first dealer that looked at it informed me that it was not genuine. I subsequently went back to the original dealer, and he gave me a swift and courteous refund. It's not clear to me if he had ever doubted its authenticity, and I didn't ask. There are apparently many excellent fakes of Byzantine gold pieces, although this particular one wasn't all that rare or expensive.
So, the takeaway here is that even dealers with excellent reputations make mistakes, or aren't experts in everything they may be selling. Because the dealer was very professional both before and after the sale, I don't hold the episode against him, and would do business again if he had coins I wanted. They'd likely have to be certified, however.
@golden said:
Please learn from this. Next time you might not be so lucky. Wishing you the very best.
Oh I will. Next time I buy a price coin raw it's only gonna be after I spend hours studying it and or it's from a reputable dealer.
I bought a Byzantine gold piece raw from a "reputable" B&M dealer in a neighboring county many years ago, along with a handful of certified darkside coins. Prior to visiting his shop, I knew zilch about Byzantine coins, but it caught my eye. After owning it for a couple years, I took it to Long Beach to sell. The first dealer that looked at it informed me that it was not genuine. I subsequently went back to the original dealer, and he gave me a swift and courteous refund. It's not clear to me if he had ever doubted its authenticity, and I didn't ask. There are apparently many excellent fakes of Byzantine gold pieces, although this particular one wasn't all that rare or expensive.
So, the takeaway here is that even dealers with excellent reputations make mistakes, or aren't experts in everything they may be selling. Because the dealer was very professional both before and after the sale, I don't hold the episode against him, and would do business again if he had coins I wanted. They'd likely have to be certified, however.
From now on when I'm dealing with him or other dealers in general I will buy certified.
@golden said:
Please learn from this. Next time you might not be so lucky. Wishing you the very best.
Oh I will. Next time I buy a price coin raw it's only gonna be after I spend hours studying it and or it's from a reputable dealer.
Unless you're an expert authenticator, avoid buying raw gold coins. There's enough gold coins in the marketplace that have already been slabbed.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Comments
Please learn from this. Next time you might not be so lucky. Wishing you the very best.
Im glad the dealer stood behind his sale but id be a bit hesitant to crown him. If selling a counterfeit coin and willingly accepting a return makes him look lets say “respectable” or “stand up” and selling a counterfeit coin without having to deal with a return because of an unsuspecting buyer results in a profit to him then it seems like its a win-win for him. Its common knowledge these $3 coins are counterfeited often a dealer getting fooled is iffy to me id tread carefully with him in the future.
That said everyone makes mistakes and this could be one.
Oh I will. Next time I buy a price coin raw it's only gonna be after I spend hours studying it and or it's from a reputable dealer.
If the coin is raw but could sell for much more in a slab, maybe ask yourself why it isn’t already in one. This doesn’t always apply for bullion, but any coin with a significant numismatic value is most often not wearing a slab because it doesn’t deserve one.
I bought a Byzantine gold piece raw from a "reputable" B&M dealer in a neighboring county many years ago, along with a handful of certified darkside coins. Prior to visiting his shop, I knew zilch about Byzantine coins, but it caught my eye. After owning it for a couple years, I took it to Long Beach to sell. The first dealer that looked at it informed me that it was not genuine. I subsequently went back to the original dealer, and he gave me a swift and courteous refund. It's not clear to me if he had ever doubted its authenticity, and I didn't ask. There are apparently many excellent fakes of Byzantine gold pieces, although this particular one wasn't all that rare or expensive.
So, the takeaway here is that even dealers with excellent reputations make mistakes, or aren't experts in everything they may be selling. Because the dealer was very professional both before and after the sale, I don't hold the episode against him, and would do business again if he had coins I wanted. They'd likely have to be certified, however.
From now on when I'm dealing with him or other dealers in general I will buy certified.
Unless you're an expert authenticator, avoid buying raw gold coins. There's enough gold coins in the marketplace that have already been slabbed.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
very glad it worked out for you. Sound advice from everyone regarding raw gold.
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