What problem with grading delays???
Robgetty
Posts: 1,112
Just Fed-Ex'd a coin to PCGS Monday at 6:00 pm. Got the grade
on Tuesday. So where is this delay problem I keep hearing about?
(Now granted, it was walk thru service. But when you have 10 days
from a dealer to make up your mind, you gotta do what you gotta do!)
on Tuesday. So where is this delay problem I keep hearing about?
(Now granted, it was walk thru service. But when you have 10 days
from a dealer to make up your mind, you gotta do what you gotta do!)
Robert Getty - Lifetime project to complete the finest collection of 1872 dated coins.
0
Comments
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
But at least I was disappointed in a timely manner!!
PCGS graders probably don't start looking at Economy coins until the rest of their plate is totally cleared.
Sorry to hear about the lower grade...but just finding that coin without problems is next to impossible. I just located another VF-25 example but it is way uglier than the one I passed up before and almost $1000 more.
RELLA
who boasts of twenty years experience in his craft
while in fact he has had only one year of experience...
twenty times.
Is that the $100 service? I had the same experience last month with the $50 service. Expressed mailed it, hits their system on the 21st, graded and shipped on the 22nd. Also got the grade I expected.
Russ, NCNE
If so, that is news to me. Not that I would disagree- admittingly I haven't given it deep thought until now, either way.
Is it wrong for a potential new owner to try and work the coin while the Dealer has the buyer's funds in hand and the buyer is working within that ten day (in this case, I've also heard of longer periods of "no questions asked" returns) period attempting to maximize the coin via PCGS? If it 'hits' the coin sticks. If not, the coin is returned with the buyer out the grading fee?
peacockcoins
Wondercoin
For regular priced (for the grade) certified coins, there is normally not an upgrade issue. The dealers I buy from know what they are doing. They are not offering upgrade candidates at regular prices.
For PQ priced raw or certified coins I will do one of two things. First, I might pay up and buy it and take a chance on the upgrade myself. If it doesn't upgrade, and I don't want it, I will offer it back usually at a lower price. Part of the PQ price IMO is an option to try for the upgrade. I think it is unethical to try for the upgrade and then return it if it doesn't go w/o disclosure. At the same time, before paying the premium I will want the dealer to disclose whether they know if an upgrade has been attempted. Or, I might ask the dealer to resubmit it themselves with the idea that if it doesn't upgrade I don't buy it, but if it does, I pay an additional premium.
I suppose that if the dealer really doesn't care if you submit, fail to upgrade, and return, then you can ethically do it. My guess is that enough of a premium is built in those cases. However, I think you should still get permission first. Of course, if you are a good customer, and only do this from time to time, then the dealer will allow it. It is kind of another to give a discount for repeat business.
On NGC coins (which I don't collect), I will offer to buy the piece only if it crosses, and offer to pay the crossover fee. Dealers will often do this, as they often assert that there is no quality difference between NCG and PCGS graded coins. Only once did I get a coin like this.
Greg
get something that would make it into a slab without problems. If it hadn't been
slabbed, I would have returned the coin. As it is, I told the dealer what I had done,
and he did not have a problem. (Especially since I am keeping the coin.) We just
discussed the grading of the coin, and I told him that my gut feel had matched his
grading of the coin; PCGS just didn't agree with both of us!
I guess that for full disclosure, it would have been courtious of me to have discussed
this with him even before I had sent a check. I did clarify the return policy beforehand.
Since I really had no dishonorable intentions, I didn't fully look at the dealer side of
tying up a rare date coin while I was verifying that it would get slabbed. (I forked up the
$100 walk thru so I could get the coin back to him on time if needed; I didn't try to slide
it through on a slower service.)
At least I filled my 1872-S hole in my collection. Only 5 coins left to have a complete set
of non gold 1872 coins!
the coin doesn't go its returned. Same with PCGS graded coins going through 1 day service as regrades looking for an
upgrade. Doesn't go, Coin returned. Don't tell me this doesn't happen every day. If the dealer is going to give out
the coin for a 10 day look see or to another dealer on memo, I see no problem trying to work the coin.
Nick
Nick: The memo'ed coin is at a certain price for what the coin is; not what it might be. I know of one mutual dealer we do business with who takes the view that if you submit the coin on memo, you own the coin regardless of the outcome - period end. I tend to agree with him on this point.
Wondercoin
Mike
Visit Our Website @ www.numisvision.com
Specializing in DMPL Dollars, MONSTER toners and other Premium Quality U.S. Coins
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Didn't we both order the Chocolate lava cake for dessert yesterday as well? You'd be surprised on what we agree on
Wondercoin
done all the time (IMO) without the knowledge of the dealer who put the coin out with thw 10 day look
or on memo. I'm playing devils advocate here.
rainbowroosie April 1, 2003
Coin dealers are in business to make money on inventory turnover. Before PCGS et. al., grading was subjective and the buyer had to beware. You would buy a coin from a trusted dealer, and, based on your own knowledge of grading, you would agree that the coin had a mutually acceptable grade and value to both of you. If you were able to purchase a coin that you felt was a higher grade than the dealer, you were a good buyer- especially if youwere able to convince the person you wanted to sell the coin to at a later date that the coin was a higher grade.
With the advent of grading services, and the subsequent fierce competition and high prices for low pop. coins, another dimension has been added to the mix. Despite this, I do not think the role of the dealer has changed. It is the responsibility of the dealer and the customer to come to a fair price for a fairly graded coin. Once that agreement has been made, a deal is a deal. The dealer was able to make an acceptable profit margin, and the customer got a coin that may or may not grade higher. If the dealer offers a 10 day return NQA policy, so be it. That is part of their service. What happens to the coin in that time is not the dealers issue as long as the coin is returned as had. I believe that most dealers know this is happening and realize that it is part of the new way of doing business. IMHO if the dealer thought the coin would upgrade, he would have submitted it himself. If the collector wants to spend the $100 to get the coin graded, so be it. That is part of the excitement as a collector-finding that incredible upgrade!
If the dealer wants to be part of this process they can announce it up front and that it is part of the 10 day policy. The buyer can then decide if it is worth the price/risk.
An Analogy to consider: You want to buy this beat up 69 Camaro from a dealer. You agree on a price and you ask the dealer to allow you to take the car to your mechanic for a once over before you finalize the deal. During the once over you find out it is an SS/396 with the all the monikers stripped off, in decent running order, but needing body work. Do you go back to the dealer and tell them? Or do you buy the car and realize that while you found a cherry and that the dealer got what he wanted for the car and was probably happy with the transaction.
hmmmmmmm Ethics?
Kenny's Bennies I