Ever ask the auction house for a couple extra days to pay an invoice?
DocBenjamin
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After the lots had closed. What happened?
Did it once a long time ago with Teletrade. Won an 1895-S Morgan NGC MS65. Terms were 7 days.
Called a couple of days after the auction requesting two or three extra days. The reception was surprisingly chilly. Paid them as promised.
Didn't do much business with them after that.
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Guess I am done atoning for the day.
I had a check to Stacks that had USPS issues twice (the machine kept misreading the address and delivering it back to me).
They were cordial and everything was fine.
I had gone out of town to a coin show, and upon my return, I found a letter in my mailbox that one of my bank accounts was being closed for “unusual activity”. Whatever month it was, I got the letter on the 3rd (which was a Friday) and the account was being closed on Monday 6th. I had paid heritage with an e check a few days earlier, so I called to let them know it would probably bounce and I would wire them. They said no worries, it shows that it’s cleared for now. It bounced a few days later and I sent a wire for that check and one other paper check I had sent. Thank goodness i didn’t just go on a buying spree, otherwise it would have been a royal cluster f.
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Banks are a damn mess now. Didn't cause a bounce, but similar here when my account got hacked ten years ago.
I remember just taking those few extra days for my credit card statement to post so the charge goes on next month buying me an extra month to pay.
I'm very relieved to learn I'm not the only one using a credit card to buy coins.
If your issuer gives you 30 days grace you would have still had nearly an extra month to pay.
Stack-Bowers used to have a 60 or 90 day layaway plan. I used it once.
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With most credit cards you get a rebate so it makes sense to use a credit card for all purchases assuming you have the discipline to not overspend your budget. Of course, if there is a discount for paying with cash, that's the way to go.
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
i mail checks, when they mention terms i tell them the checks is in the mail and if it gets lost i'll express mail a replacement. luckily none have been lost, but it does take the full week at times.
considering the low value of my winnings, checks don't add a painful "payment premium" over the juice.
Whenever that happens, be sure to mark out the barcode before giving it back to the PO. Once the barcode is on it that's all the machine reads. If it's the barcode for your address, it'll keep coming back to you until it's marked out.
ive done that with coin dealer at coin show. i was happy when i picked the coin/paper. all prior agreements although some woulndnt , cash and carry, fwiw
If a dealer/auction house can’t give me an extra few days or so to get the funds in order I will just use someone else. They may have a coin I really want, but I will just change my mind and select a coin from another place I really want instead. 😉
Yes a few times. Was waiting to get my pay check and for it to clear. Never had any issues they always gladly helped and I always paid them. I am not rich so things like this happen once in a while.
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That's exactly what the PO told me! It's unlikely it'll happen again because I typically pay electronically but good info for anyone else who happens to read it.
Decades ago, I attended a Stacks auction in NYC just to bid on one item. I really stretched for it and finally won. It was not until I got back to the hotel that I remembered the juice of 10%. I thought about selling some $20 gold when I got back home but just stalled for a few days until I had some more money coming in.
I always pay with my Citi bank credit card. Here is why. Many years ago I had a coin stolen in the mail and spent over 8 months fighting with the post office to "Prove" it even existed. later I found out that all purchases are 100% covered by my credit card and it takes about 5 minutes to get your money back. I had another coin stolen in the late 1990's. Post Office delivered a package with the coin cut out! I got my money back that same day.
Just this week I thought I might have had a coin stolen. (Ordered from Northeast Numismatic on Sept. 16th and coin had still not arrived on Oct. 10th). I called Citi and they offered to do a refund right then but I told them we would wait just a few more days. Glad I did because the coin showed up on Sat. the 12th. Get this though. The coin came in a mailer with a sticker saying original package damaged. Someone took the return sticker off my invoice and used it to send the coin to me in a new package. (My guess is that they were looking for something more valuable than a $150 dollar coin.) James
I’ve also occasionally received packages with stickers and new packaging. Why guess a bad act on the part of a would-be thief rather than just a damaged package and someone doing a good thing? Besides, if someone had decided to steal the contents, why then go to the trouble not to steal, just because it turned out that the value wasn’t higher?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@MFeld . You don't think the size of the prize plays a role when deciding what is worth stealing? James
Could have just zapped the security chip before opening if the intent was stealing a high value coin.
Maybe it is the reports of stolen and missing coins that has some paranoid. Reality is that 999 of 1000 coins make it to their destination without incident (though occasional tardiness.)
@MFeld . I went back and looked at the sequence. I ordered the coin from Northeast numismatic.
The coin made it to the Saint Paul distribution location (About 100 miles from me). The next day a banner appeared saying some tracking numbers would not work due to hurricanes.) Very few hurricanes make it to Minnesota but my tracking number quit working. Three days later it was reactivated. In San Francisco. For 7 days it crossed the bridge back and forth between San Fran and Oakland. Then the number quit working so I called Citi bank because a dead tracking number usually means it is considered delivered. The agent suggested maybe it was being restarted (Which it was with a new track number).
i don't believe in coincidence. My package got damaged during a window when it could not be tracked? My package was then sent on a lengthy trip that would obscure who all handled it? The price for theft is severe so even the biggest dullard would check the invoice to make sure the prize was worth doing the crime. My opinion. James
I don’t claim to know how most thieves think, once they’ve opened a package and checked the contents. My guess would be that some follow thorough at much lower value thresholds than others. Just out of curiosity, at what value level for the package in question would you have guessed this incident didn’t involve a would-be thief?
Most importantly, I’m glad you got your coin!
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I have a Citi credit card, as well. Specifically, a 'World Elite' Mastercard. So, this post was interesting to me, and I decided to investigate the coverage for my own purposes.
When I checked the benefits associated with my specific class of card, I discovered that "rare or precious coins" were explicitly excluded from coverage under the 'Damage & Theft Purchase Protection' program.
It appears that your card currently covers "rare or precious coins". This is something that I would be interested in learning more about. If you are willing to share publicly, which Citi credit card do you have?
My card is through Sears Mastercard. James
I think the current fine for postal theft is over $5,000 dollars. Not to mention you would lose your job and be guilty of a crime that might have jail time. I would think the prize would have to be something easy to sell such as gold, or a coin with significant value that could be sold sans holder. Just my guesses though. It has been over 10 years since I was a contractor working for the Post Offices so it has been awhile since I sat around chatting with postmasters. James
Thanks.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@MetroD. It is worth mentioning that this card is through my wife and she has a program that doubles all warranties on all purchases and gives a 100% return on any disputed purchase. We also used it to fix the broken dish washer machine, and got our money back on a television,, a fancy coffee pot and some pottery that arrived broken. James
Excellent information. I am going to look into it, specifically for coin orders.
Thanks for sharing.
Not when you already have the item in hand. You might not risk opening a package with a $10 coin. But once you've already opened it, what is the point in throwing it back?
i use to work with post masters. One of their complaints was that some workers seem to have a regular problem with packages "Getting damaged". Or as a post master in Fulda called it
opportunity shopping. james
I haven’t paid one cent interest in over 25 years. I think I use to do it years ago so I wouldn’t have to wait for a check to clear but now’s it’s for 2% cash back.
When they drive customers away, they help their remaining customers save money. So it’s not all bad.
Doggedly collecting coins of the Central American Republic.
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