Blatant overgraders
mr1931S
Posts: 6,242 ✭✭✭✭✭
Anyone can make an occasional "honest mistake." Anyone is capable of occasionally rendering an "honest opinion" that would seen by many with some knowledge as slightly askew.
But the question here is how do you see a coin seller who, auction after auction, describes his coins as being mint state (put number here), provides images that show the coins as obviously having circulated and includes a disclaimer in his or her auction that says something to the effect that the opinion of grade is "honest?"
But the question here is how do you see a coin seller who, auction after auction, describes his coins as being mint state (put number here), provides images that show the coins as obviously having circulated and includes a disclaimer in his or her auction that says something to the effect that the opinion of grade is "honest?"
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
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<< <i>But the question here is how do you see a coin seller who, auction after auction, describes his coins as being mint state (put number here), provides images that show the coins as obviously having circulated and includes a disclaimer in his or her auction that says something to the effect that the opinion of grade is "honest?" >>
I'd say their grading is honestly bad!
K S
I can agree with this...to a point. But as for someone else "getting burned," what if that someone else eventually discovers that they have been burned to such an extent (in dollars) that they will never buy another coin from anyone ever again?
I'm talking about individuals who get burned for perhaps a few thousand on higher ticket items by sellers who the knowledgeable collectors can mostly agree "should know better."
Blatant and obvious overgraders. Worthy of trading with or, at the least, to be avoided by the knowledgeable collector?
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
<< <i>But the question here is how do you see a coin seller who, auction after auction, describes his coins as being mint state (put number here), provides images that show the coins as obviously having circulated and includes a disclaimer in his or her auction that says something to the effect that the opinion of grade is "honest?" >>
I see that seller on my " Don't buy from again list"
that list even includes a few forum members
Herb
Yes, in my experience as well. At a show a few years ago....well, more than a few years ago...a decade and a few years ago, I was admiring a 1900 O dime that a dealer was describing as "mint state" and he had a price on the holder to match his grade, of course. The coin was nice, like AU 50 or so, but in my opinion not mint state, and I boldly told him that. He snatched the coin out of my hands, put it back in his case, and told me, "thanks for telling him that."
Putting a stiff price on a properly graded scarce or rare coin doesn't bother me. A dealer once told me, "don't let your nice keys go to cheaply. They are hard to replace." I just think that a dealer who cares about being ethical should not be trying to get higher prices by blatantly overgrading. If dealer sees wear on a coin he or she is trying to sell don't be calling the coin "mint state." Properly grade, ask a strong price and tell people, "the price you see on the holder is what I want for this coin. I don't care what the grey sheet says."
In other words, educate the consumer instead of trying to fleece them by overgrading. Who knows, dealer might actually learn something valuable from his or her customers.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
<< <i>Putting a stiff price on a properly graded scarce or rare coin doesn't bother me. A dealer once told me, "don't let your nice keys go to cheaply. They are hard to replace." I just think that a dealer who cares about being ethical should not be trying to get higher prices by blatantly overgrading. If dealer sees wear on a coin he or she is trying to sell don't be calling the coin "mint state." Properly grade, ask a strong price and tell people, "the price you see on the holder is what I want for this coin. I don't care what the grey sheet says." >>
I can see that. I guess it depends on the clientele you're selling to. If you are selling to quality-conscious collectors who know how to grade and evaluate coins, you'll do it this way -- price it higher than many other dealers, but also grade it accurately and stand behind what you sell. Others go after the customers hoping for a "rip" -- those who sell "BU" coins at AU prices (and may or may not discover that they got what they paid for IF they were lucky).
There are a lot of different ways to do business -- which is good, because there are a lot of different types of ways collectors want to do business. I prefer a no BS approach with very quality coins for the grade, even if it's above the pricesheets. For me to pay much over the sheets, it has to be *very* strong quality, but better than than bargain-hunt and be disappointed with the coin. If I could either pay $100 and be disappointed or $150 and get a nice coin that I'd love to have in the collection, even if both were advertised at the same grade, I'd take the latter, or neither of them at all.
Why would you even LOOK at raw stuff on Ebay. Seems like you are setting yourself up for disappointment.
<< <i>one very easy way to make sure the seller is not overgrading is to only buy slabbed coins. >>
Perhaps, but it still doesn't mean the coin isn't overgraded. An overgraded slabbed coin merely shifts the blame from the seller to the slabber (though the seller should still be looked at with suspicion if their overgraded slabs are always from crummy, fly-by-night TPGs).
I agree but the amount of overgradding reduces dramatically. If you narrow it down to PCGS/NGC then you have the grade guarantee.
I am sure you understand my point. only buy slabbed coins.