Lessons Learned

FC57Coins

Well as I posted last week I went out on a limb on two coins that I thought would be good finds IF they turned out to be the genuine items. One was this Franklin Half, the other one was this Trade Dollar.

The Franklin turned out to be lackluster and had enough minor problems that I would grade it an MS65FBL at best - lesson learned - NTC leaves something to be desired in the grading biz - but we were speculating that already.

The Trade dollar, while pretty, had been harshly cleaned and retoned. The seller claimed that he didn't grade the coin so again it was a shot in the dark just to see the coin. - Lesson learned - be very very leery of raw coins on Ebay.

Fortunately both sellers have good return policies, so both coins are going back for a refund. I learned a good lesson, I hope it can be passed on to others on here. And yes - if you want to tell me "you told me so" feel free

Frank

Russ

I see that NTC's terrible grading is not confined to only the proof Kennedy series. I wasn't as smart as you. Instead of just one coin, I gave them multiple chances.

Russ, NCNE

IrishMike

Frank the seller's comments on the Trade Dollar are interesting (stored in wax paper), there is a seller on Ebay and Yahoo whose pictures look waxy.On a dare I bought what look like a really nice bust half. Sure enough it was harshly cleaned, but he had a generous return policy so I sent it back. Is waxing the coin now a trick used to hide cleaning in a picture?

Spooly

I always stick to NGC, PCGS, ANACS slabs on e-bay (with a return policy). I only buy RAW coins from trusted dealers(with a return policy) or at shows. Risk management.... seems to work.

airplanenut

Told ya so

FC57Coins

Mike:

It really opened my eyes to see the coin in person. Amazing what the camera can hide - I guess when I sell coins I tend to use the camera to highlight problems - oh well - lesson learned as I said.

Russ:

This weekend I tried something different and bought two 1964 proofs in ICG slabs. They were both under $11 bucks so you couldn't beat the deal - when they get here I'll take pics and see what you think.

Frank

heavycopper

Yep, I told you that was a real gamble on the 1957 half . That trade dollar is sneaky too. I can't see the cleaning but the fields don't look right. They look watery/wavy, not like normal silver luster. I guess you know that since you saw the coin close up. Sometimes gambles to pay off. I got lucky on a 1940 proof Mercury dime.

stman

But the real question is, Did you have fun learning this lesson?
Most times when I see images lit up, it makes me wonder why right off the bat. For me I would rather see a dull ugly picture than maybe it hasn't been enhanced. And maybe when receiving the coin be surprised.

Stman

FC57Coins

True enough stman - this whole thing has been a wonderful learning experience - sharing information on here - and learning a whole heck of a lot since coming on the boards. I'm very appreciative of everyone's input.

Frank

HuliganRS

Frank: A lesson learned & no loss!

Congrats! some of us had to lern the hard way!

Rusty.

LucyBop

Frank, because of your willingness to share this experience I learn as well. Thanks.