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Would this offend you?
Singapore
Posts: 578
A dealer with whom you do some business has a PCGS slabbed coin in inventory that is potentially of interest to you.
You visit the dealer, examine the coin and decide its not what you are looking for.
Weeks go by and the coin remains in his inventory.
Weeks after that, the same dealer calls you to say he has a new coin in stock that he 'just picked up' that might interest you. It is the same type and date as the coin you saw earlier, but it is now in an NGC holder, one grade higher and much more expensive.
You examine the coin and determine that it is clearly, unmistakably, the exact same coin you saw before, reslabbed.
Would this offend you?
You visit the dealer, examine the coin and decide its not what you are looking for.
Weeks go by and the coin remains in his inventory.
Weeks after that, the same dealer calls you to say he has a new coin in stock that he 'just picked up' that might interest you. It is the same type and date as the coin you saw earlier, but it is now in an NGC holder, one grade higher and much more expensive.
You examine the coin and determine that it is clearly, unmistakably, the exact same coin you saw before, reslabbed.
Would this offend you?
Singapore
0
Comments
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>Do some plastic peddling dealers just assume that collectors are sooooo stupid that we only look at the grade on the slab? Geez. >>
Many do, and quite often they are right.
Russ, NCNE
Looking for PCGS AU58 Washington's, 32-63.
<< <i>A particular coin's toning, circulation ticks, and other markings can stick in a collector's memory for a long time. >>
I'd love to know if anyone ever tried this stunt with shylock!
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Even if I didn't remember the coin well enough to know that it was the same who is going to turn down a PCGS coin
in 65 but then decide to pony up the money for a NGC coin in 66? I'm going to see the same things I didn't like in the
65 holder and be staring at a 66 price.
I think I would laugh in his face.
-KHayse
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
<< <i>I would be insulted that the dealer thought I was that stupid. >>
Absolutely! I would enjoy laughing in his face, as well. I'm happy the vast, vast majority are way too smart to try such a dumb@$$ stunt.
Aldous Huxley
Yabba dabba doo.
Fred Flintstone
I agree w Bikingnut on this. However, when it comes to crackouts, the overwhelming majority of these coins do not upgrade. Even the best in the business get their heads handed to them more often than not in these circumstances.
"Seu cabra da peste,
"Sou Mangueira......."
However, since I tend to believe absolutely NOTHING that a dealer tells me while looking at his wares, I would not be offended.
A general rule of thumb for me is: Let the coin do the talking, NOT the dealer.
Yes, there are exceptions but I think you don't know that for sure until you have a longer term relationship.
Joe.
Total Copper Nutcase - African, British Ships, Channel Islands!!!
'Do not meddle in the affairs of dragons, for you are crunchy and taste good with ketchup'
"It's an experimental division at Ft. Benning, and
your lucky to be assigned there rather than anywhere
else, because nobody knows anything about it, which
means that you should know quickly as much about it
as anybody."
1st Cav in Vietnam
Shelby Stanton
rainbowroosie April 1, 2003
Experience the World through Numismatics...it's more than you can imagine.
<< <i>I'd be disappointed in MYSELF for not quickly recognizing the coin offered to me was a crack-out winner...I SHOULD have had the upgrade, not him. >>
Rainbowroosie - Your point may have merit in regard to, for example, Roosevelt dimes - but its not true for my specialty of colonials.
I believe any (and I mean this literally) colonial coin can be purchased raw or in a PCGS holder and immediately sent to NGC for an upgrade of at least 1 and possibly 2 or 3 grade levels.
Its finding the buyers who are willing to pay strong money for NGC colonials based on the slabbed grade thats the challenge.
<< <i>If, with your back to the dealer, while partaking of a cool cup of water from his water cooler, you felt his hand rummaging around in the pocket in which you carry your wallet, would this offend you? >>
LOL, yes, why yes it would!
<< <i>Unfortunately, this happens. If you have a good relationship with this dealer, I would let it slide...Let me explain why: Dealers deal with alot of customers etc. and he could have forgotten that he had showed you the coin previously. I am not trying to defend the dealer, its just that they are human and make stupid mistakes just like the rest of us. Will you find good coins at fair prices from this dealer in the future? If so, it may not be worth getting upset about. >>
I actually agree with you on this. As a member of a service industry, I can emphatically state that it is impossible to keep everyone completely straight. Did I tell you this before?...etc etc. So I wouldn't automatically ascribe a sinister motive to the dealer.
Coin Junkie
cameoproofcoins.com
Greg
Brian.
I seriously doubt that any rare coin dealership uses customer relationship management software where they record every single phone call, etc. Too many people to talk to and too little time for the good dealers. Actually, if there is an exception to my rule, it is probably a company like Littleton. From what I know about them I strongly suspect that they have a lot of back end computing going on, working regression analyses and so forth on mailing lists and their customer database. They have high enough margins to work those kind of angles. The smaller operators have to go on their own memory
<< <i>The dealer hasn't thought of anything new. Before slabs a dealer would take a coin that was in a flip or staple holder back to his office, telling the customer maybe he could find some thing better "in the back" and that he would return in a few minutes. Back in his little office he would put the same coin in nice black Capital holder with gold lettering, bring it out front and sell it. The whole idea was not to present the prospect with a better coin or for that matter, a different coin, but rather a major contrast in packaging. >>
That's when you rest chin briefly on thumb and forefinger and say, "You know, it's just too hard to decide, I think I'll take them both."
Aldous Huxley
Yabba dabba doo.
Fred Flintstone
K S
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.