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GreatCollections scraped off my CMQ sticker

P0CKETCHANGEP0CKETCHANGE Posts: 2,244 ✭✭✭✭✭

I consigned several coins to GC recently, including a Morgan Dollar that had earned CMQ approval (which I paid for). When I checked the auction listing, I was surprised to find that they scraped off and removed the CMQ sticker.

An email inquiring about this decision elicited the following response:

We removed the label, as it is not one that we recognize in our auctions. We have not seen them bring premium prices, unlike CAC.



Not a huge deal, but some bidders may value the approval from David Hall, and if GC is removing these stickers, the sample size on hammer prices is small if not nonexistent (a completed item search does not turn up any listings for "CMQ").

I love both buying and selling with GC and will continue to do business with them, but thought this was worth sharing in case anyone else is considering consigning CMQ-approved coins.



(left is my pre-submission photo; right is GC auction photo)

Nothing is as expensive as free money.

«13456

Comments

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    1madman1madman Posts: 1,288 ✭✭✭✭✭

    Forgive my ignorance with the cmq sticker, but isn’t it strongly associated with stacks auction house? Seems like it would be somewhat of a conflict of interest to gc

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    JBKJBK Posts: 14,745 ✭✭✭✭✭
    edited March 27, 2024 6:33AM

    @P0CKETCHANGE said:
    Not a huge deal, but some bidders may value the approval from David Hall, and if GC is removing these stickers, the sample size on hammer prices is small if not nonexistent (a completed item search does not turn up any listings for "CMQ").

    If they scrape them off before auctioning then I would expect a search to turn up no listings. :*

    Their answer to you is a little disappointing. If they had told you, for example, that the sticker would hurt the price then that's one thing, but just because they feel it wouldn't add to it that shouldn't justify removing it. Furthermore, the mess from the sticker adhesive is visible in their photo so it is clear there was something there.

    I sure hope their T&C for consignments includes a notice that they reserve the right to do something like this. :#

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    GoldenEggGoldenEgg Posts: 1,923 ✭✭✭✭✭

    It’s a sticker from a competing firm. I guess I can understand it. As a consigner, I think I would have been caught off guard also, but when consigning, I assume that the auctioneer will do what’s best for the item to achieve the best price. That might be getting something into a slab or submitting something to CAC. Strange that they didn’t remove the residue better.

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    Manifest_DestinyManifest_Destiny Posts: 3,645 ✭✭✭✭✭

    @DoubleEagle59 said:
    In my opinion, totally inappropriate.

    If GC are going to do this, they should outline their plan to do so in such a way that the consignor knows this before submitting their coin(s).

    I agree. If that's their policy, they need to state that up front so the consignor can decide.

    That said, they have a relationship with CAC and probably consider them a competitor. Still no excuse though.

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    MaywoodMaywood Posts: 1,891 ✭✭✭✭✭

    If the OP’s account of what happened is accurate it seems wholly inappropriate and I call a big-BS when Great Collections claim ignorance of CMQ and what the sticker represents. They shouldn’t remove it without the consignor approval. Just another example to me of poor service by this seller.

    I personally rename them as Not So Great Collections.

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    PhilLynottPhilLynott Posts: 881 ✭✭✭✭✭

    Yikes. Knowing GC they'll make things right but this one seems like a swing a miss by them.

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    seatedlib3991seatedlib3991 Posts: 504 ✭✭✭✭

    Sorry to be ignorant but could someone post how much a CMQ sticker costs and what it is suppose to designate? James

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    bsshog40bsshog40 Posts: 3,776 ✭✭✭✭✭

    I don't do auctions houses, so this confuses me a little. Isn't GC an auction house like Heritage, Stacks, etc...? Don't they make money with consignment fees? They are a venue for selling other peoples coins. Why are they concerned about competing firms? Why should they worry about a sticker on a sellers slab that they own, when they are merely a middle man venue for selling someone elses property? What gives them the right to modify a persons property? I would think that they would have to notify the seller first instead of just removing a sticker without permission. Let the seller decide if the sticker is an advantage or disadvantage.

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    MetroDMetroD Posts: 1,935 ✭✭✭✭✭

    @seatedlib3991 said:
    Sorry to be ignorant but could someone post how much a CMQ sticker costs and what it is suppose to designate? James

    https://cmq.stacksbowers.com

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    seatedlib3991seatedlib3991 Posts: 504 ✭✭✭✭

    Thank you @MetroD. I would consider that to be a meaningful amount of money to have scraped off. I would ask that if that is their policy then they refund the cost of the sticker on your consignor statement. As far as the market effect the sticker has, I assume this is part of the other auction houses marketing program to retain quality material for future auctions. James

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    MrEurekaMrEureka Posts: 23,938 ✭✭✭✭✭

    Does Heritage do the same?

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
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    ianrussellianrussell Posts: 2,454 ✭✭✭✭✭

    Over the past month alone, we've had consignments arrive with 40+ different stickers affixed to them for a myriad of different purposes (you can see most of them all over eBay). Some coins look like Christmas trees. We have to remove them prior to listing.

    Please note, I have nothing against CMQ or David Hall and Greg Roberts - Raeleen and I have the utmost respect for both of them.

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
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    TwoKopeikiTwoKopeiki Posts: 9,537 ✭✭✭✭✭

    I think the question should be "what needs to be true for the CMQ sticker to be recognized by GC the same way as CAC sticker does?".

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    Coin FinderCoin Finder Posts: 6,953 ✭✭✭✭✭

    Regarding some comments, the coin in hand is always a better indication of its eye appeal than a photo of the coin. So bidders do not have that option unless they see the coin in hand. With GC however, they do a good job photographing coins so I agree with Perry, let the market decide how much of a premium coin it is and how much its worth. Looks like a nice coin! Curious why did you not auction it with Stacks-Bowers?

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    lilolmelilolme Posts: 2,456 ✭✭✭✭✭

    @ianrussell said:

    @PerryHall said:
    Why not let the bidders decide if the CMQ sticker has any value?

    Where do we draw the line? Have you seen the # of stickers that are being privately added to coins in the U.S.?

    • Ian

    Ian can you answer your own question? That is where does GC draw the line? What stickers does GC remove and which ones does GC let remain on the slab? And why if possible?

    https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023

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    PerryHallPerryHall Posts: 45,404 ✭✭✭✭✭

    @ianrussell Do you also take off the Eagle Eye stickers issued by Rick Snow?

    Worry is the interest you pay on a debt you may not owe.

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    jedmjedm Posts: 2,940 ✭✭✭✭✭
    edited March 27, 2024 7:58AM

    @PerryHall There's a 1908 Indian Head cent on GC with the Eagle Eye sticker on it showing on the website right now, so it appears that those stickers are not being removed.

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    MetroDMetroD Posts: 1,935 ✭✭✭✭✭
    edited March 27, 2024 8:37AM

    Comment retracted.

    Reason: The slab image that @Byers posted was meant as a joke, but I, embarrassingly, failed to realize it.

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    jmlanzafjmlanzaf Posts: 31,869 ✭✭✭✭✭

    @TwoSides2aCoin said:
    it's a sticky situation :cold_sweat:

    Not sticky enough...

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    jmlanzafjmlanzaf Posts: 31,869 ✭✭✭✭✭

    @Byers said:

    @ianrussell said:
    Over the past month alone, we've had consignments arrive with 40+ different stickers affixed to them for a myriad of different purposes (you can see most of them all over eBay). Some coins look like Christmas trees. We have to remove them prior to listing.

    Please note, I have nothing against CMQ or David Hall and Greg Roberts - Raeleen and I have the utmost respect for both of them.

    • Ian

    I am assuming that Ian is referring to this slab:

    You should probably send it in and try to get it stickered for "clarity of plastic".

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    NJCoinNJCoin Posts: 1,420 ✭✭✭✭✭

    @PerryHall said:
    Why not let the bidders decide if the CMQ sticker has any value?

    Exactly!! It's kind of a BS response, and is likely less than 100% truthful. OTOH, you have to respect Ian for not wanting to provide a platform to a competitor. After all, while it's a DH approval, it's a SB product.

    That would totally explain why THIS sticker has to go while others are allowed to remain. So this information is not shocking, and I guess the takeaway is that if CMQ stickers are your thing and you want to later sell in auction, you should plan on sending the coins to the auction house marketing the stickers, as opposed to its competitors.

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    yspsalesyspsales Posts: 2,210 ✭✭✭✭✭

    On one hand, don't auction houses send coins in for reconsideration to maximize the return.

    I guess there is a stated or implied intent.

    To me it is part of the provenance.

    Eagle Eye, CMQ, CAC would be important to me as both buyer and seller.

    I get the GC POV, but could care less about GC marketing, and smell some BS.

    BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out

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    NJCoinNJCoin Posts: 1,420 ✭✭✭✭✭

    @bsshog40 said:
    I don't do auctions houses, so this confuses me a little. Isn't GC an auction house like Heritage, Stacks, etc...? Don't they make money with consignment fees? They are a venue for selling other peoples coins. Why are they concerned about competing firms? Why should they worry about a sticker on a sellers slab that they own, when they are merely a middle man venue for selling someone elses property? What gives them the right to modify a persons property? I would think that they would have to notify the seller first instead of just removing a sticker without permission. Let the seller decide if the sticker is an advantage or disadvantage.

    Because they still compete. If you were to sell an item you bought from HA through GC, I'd fully expect them to remove the HA label before sending the item to the buyer. Same type of thing, although I get why a consignor might not see it that way.

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    bsshog40bsshog40 Posts: 3,776 ✭✭✭✭✭

    @NJCoin said:
    Because they still compete. If you were to sell an item you bought from HA through GC, I'd fully expect them to remove the HA label before sending the item to the buyer. Same type of thing, although I get why a consignor might not see it that way.

    Ya, the more I'm following the thread, the more I learned that the CMQ sticker is an SB product. Still, seller should be notified before removing any stickers. Looks like Ian is addressing that now.

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    messydeskmessydesk Posts: 19,683 ✭✭✭✭✭

    I would think the qualifications for a sticker remaining on a slab are that the sticker has a proven track record of adding value of some sort to the buyer, and not just the entity affixing the sticker before selling the coin. As far as approval stickers goes, this narrows it down to CAC, QA, and Eagle Eye. Thankfully, my attribution sticker is also now recognized.

    I imagine soon we'll see an updated GC T&C that enumerates stickers that will not be removed from consignor holders.

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    TwoSides2aCoinTwoSides2aCoin Posts: 43,835 ✭✭✭✭✭

    This glue situation is getting worse. It's not rocket science. Ian, use WD-40 on a rag to get that sticky off , next time.

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    JBKJBK Posts: 14,745 ✭✭✭✭✭
    edited March 27, 2024 3:07PM

    As far as I know, GC does not offer their own stickers so there's no competition there.

    SB exists and is a respected name in the field, as is GC. As a notable philosopher once said, "Can't we all just get along?".

    One thing is for sure: GC needs to buy some GooGone. :p

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