Auctions and gassed in holder coins

JimW

Do you think most of the major auction houses would recognize and not list toned coins gassed in the holder?
Or is it too much of a judgement call or they just do too much volume to scrutinize individual coins, so if a coin is in a reputable TPG holder then just go with what the holder label says?

fathom

Great questions.

The well established and accomplished auction houses probably have a policy. But I would assume it is proprietary information that they believe would not achieve a desired across the board positive reception.

In other words it may be situational and you will not get a clear, concise answer.

JimW

Thanks @fathom I wonder if it is too much of a judgement call based on the comments in this thread

https://forums.collectors.com/discussion/comment/13124781#Comment_13124781

Crypto

Auctions sell what is consigned unless they think it to be counterfeit. Even then many an auction house has turned a blind eye for commissions just look at the wine market. Buyer beware and remember why many coins are at auction commissioned there by dealers. While it does garner many eyes, it also creates an air gap with the buyers of coins they didn’t/ couldn’t sell themselves

ricko

I believe the big houses have the incoming product checked professionally, and if something were questionable, it would be bounced after further confirmation. They do not need such things to ruin their image/reputation. Cheers, RickO

MFeld

@Crypto said:
Auctions sell what is consigned unless they think it to be counterfeit. Even then many an auction house has turned a blind eye for commissions just look at the wine market. Buyer beware and remember why many coins are at auction commissioned there by dealers. While it does garner many eyes, it also creates an air gap with the buyers of coins they didn’t/ couldn’t sell themselves

A couple of years ago, I noticed a consigned lot that appeared to be the same coin which we’d auctioned in the not too distant past. But it had suspicious looking toning that had not been present when we’d auctioned it. I did some research and while I’m not at liberty to provide specifics, rather than auctioning it, we returned it to the consignor.

PerryHall

I can't believe that gassed in slab coins are that big of a problem. The few I've seen had ugly toning.

WAYNEAS

I feel that all major auction houses will scrutinize all items to the best of their ability and return the questionable ones back to the cosigner.
Yes, some do slip thru.
Wayne

airplanenut

I think auction houses are in a difficult position when faced with something questionable (or even just really not nice for what it is), and apart from authenticity issues (which should be pretty black and white), that could include a gassed coin like you suggested, or even a cleaned coin or a coin with some other flaw that straight graded and perhaps shouldn't have. On one hand, they have a goal of maximizing the return for the consignor. On the other hand, honest and accurate descriptions will build trust from buyers and keep the coming back, which benefits all consignors. I know I face this dilemma sometimes selling consigned coins on eBay--I don't want to be overly harsh (especially with raw problem coins) but if I pretend a coin is problem-free when it's not, it's my reputation on the line. I can't recall a time where I ever turned a coin away due to issues unrelated to authenticity, but I have told consignors up front how I plan to describe them if I notice significant issues. I can't say I've had an issue like @MFeld described where I had definitive proof of a specific coin being altered.

davewesen

@PerryHall said:
I can't believe that gassed in slab coins are that big of a problem. The few I've seen had ugly toning.

I agree, but some people pay big money for any color.

How many auction houses will pull a lot and get it fixed for an obvious mechanical error? (like wrong year or mintmark)

Crypto

@MFeld said:

@Crypto said:
Auctions sell what is consigned unless they think it to be counterfeit. Even then many an auction house has turned a blind eye for commissions just look at the wine market. Buyer beware and remember why many coins are at auction commissioned there by dealers. While it does garner many eyes, it also creates an air gap with the buyers of coins they didn’t/ couldn’t sell themselves

A couple of years ago, I noticed a consigned lot that appeared to be the same coin which we’d auctioned in the not too distant past. But it had suspicious looking toning that had not been present when we’d auctioned it. I did some research and while I’m not at liberty to provide specifics, rather than auctioning it, we returned it to the consignor.

I believe it,

please no one assume I was insinuating HA. I was specifically talking about the scandals that ripped though specific auction houses and rare wine auctions from a few years ago with known counterfeiters/consigners

MFeld

@Crypto said:

@MFeld said:

@Crypto said:
Auctions sell what is consigned unless they think it to be counterfeit. Even then many an auction house has turned a blind eye for commissions just look at the wine market. Buyer beware and remember why many coins are at auction commissioned there by dealers. While it does garner many eyes, it also creates an air gap with the buyers of coins they didn’t/ couldn’t sell themselves

A couple of years ago, I noticed a consigned lot that appeared to be the same coin which we’d auctioned in the not too distant past. But it had suspicious looking toning that had not been present when we’d auctioned it. I did some research and while I’m not at liberty to provide specifics, rather than auctioning it, we returned it to the consignor.

I believe it,

please no one assume I was insinuating HA. I was specifically talking about the scandals that ripped though specific auction houses and rare wine auctions from a few years ago with known counterfeiters/consigners

I didn’t take your post as pointing at Heritage. It seemed like a good one to quote and respond, that under certain circumstances, we turn down consignments of slabbed coins.

Jzyskowski1

For those who don’t know, Crypto is talking about an incredibly large problem in the wine world from a while back. They scrambled to cover the news and did a good job. It’s being looked into again as the empty hard liquor bottles are in the news. Counterfeiters using genuine bottles and packaging. 🧐🙀
Easier to do than wine!

Crypto

@Jzyskowski1 said:
For those who don’t know, Crypto is talking about an incredibly large problem in the wine world from a while back. They scrambled to cover the news and did a good job. It’s being looked into again as the empty hard liquor bottles are in the news. Counterfeiters using genuine bottles and packaging. 🧐🙀
Easier to do than wine!

Fake labels too