Auction Hijinks...Auction house, Grading Company, consigner? UPDATE

lermish

I have no idea who is being...optimistic?.. here but it's certainly one (or all) of the related parties. This auction is posted to Proxibid:

https://www.proxibid.com/Coins-Currency/Coins/Major-Highlight-1876-cc-Trade-Dollar-Chopmarked-1-Select-Unc-USCG-fc/lotInformation/85873384#topoflot

My buddy sold this coin on GC a couple of months ago:

https://www.greatcollections.com/Coin/1579881/1876-CC-Trade-Silver-Dollar-Chop-Mark-PCGS-AU-58

I don't know what to say without running afoul of forum rules.

Manifest_Destiny

Looks like it was graded by US Bullion

Dug13

USCG ???

MetroD

@Dug13 said:
USCG ???

U.S. Coin Grading
Reference: https://coinauctionshelp.com/USCG_TPGS.html
Recent Forum Thread: https://forums.collectors.com/discussion/1075069/anyone-heard-of-this-grading-company
Defunct Website: http://uscoingrading.com

PerryHall

Is that gouge near the obverse rim considered to be a chop mark? The chop mark on the reverse looks like it can be easily duplicated using a flat bladed screwdriver as a punch to create that cross. Hard pass.

lermish

@PerryHall said:
Is that gouge near the obverse rim considered to be a chop mark? The chop mark on the reverse looks like it can be easily duplicated using a flat bladed screwdriver as a punch to create that cross. Hard pass.

The obverse may be a test punch of sorts or could just be damage. I don't have any issues with the chops on the reverse though.

Opening bid is only $20k though.. a bargain! How can you pass?😉

sellitstore

Wait, are you trying to say that there are dishonest sellers on Proxibid? How could that be?

CaptHenway

What was the GC sale price?

lermish

@CaptHenway said:
What was the GC sale price?

CaptHenway

Thank you that price sounds reasonable.

DisneyFan

Description from KDCI:

We are proud to present 5000+ lots of part 2 of our 3 day Wow! Phenomenal Texan Rare Coin Collection! This is a not to be missed event!

Join us on Tuesday, 7/16 - Thursday 7/18!

The Texan Collection, featured in the PM portion of this auction, was entirely put together with
East Texas Oil Money! East Texas oil dates back to the 1930’s, a time that people referred to as
"the gusher age" or the "Texas oil boom".

lermish

This just popped up and sold immediately (I never saw the live listing).

So, do we think they never cracked it out before putting it in the auction and photoshopped the pictures? Or they are sending the coin raw?

https://www.ebay.com/itm/276509671447?

I don't know is being shady but someone involved with this whole deal (or multiple someones) are being extremely shady IMO.

TomB

My guess, based simply upon the first post and the latest from @lermish at 10:50PM, is that the auctioneer (KDC) purchased the coin from GC then listed it as an MS63+ graded by USCG. However, they never cracked it out of the holder and only would have done so if they had someone bid their opening $20k that had a stipulation of "This Lot Must Be Paid Monday". Since they had no opening bid, then they either wholesaled it out to HNC or they are HNC, as well. Then the coin was listed under the HNC name on ebay and sold in the PCGS holder, which it was in the entire time.

Simple. Easy-peasy.

lermish

That makes sense @TomB , but it's so gross. I guess I'm naive.

sellitstore

@lermish said:
That makes sense @TomB , but it's so gross. I guess I'm naive.

You will learn with time and experience.

There's a much easier way to deal with sellers like this. Ignore them instead of trying to figure out their scams.

If a coin keeps showing up at auction, it's not really for sale. Walk away.