Cleaning and reselling
Merc
Posts: 1,646 ✭✭
I was bidding on a 1922 plain strong reverse Lincoln cent on ebay. The first seller had sent it to NGC or PCGS (I forgot which) and it was bodybaged for environmental damage. The coin had some large carbon spots but wasn't too bad. I was outbid by an ebay seller who sells almost only the key dates. Well, just a week later, another EF looking 1922 plain strong reverse was up for bids. It was the same coin. Most of the carbon spots had been removed, but some of the bigger ones were still there. There was no mention of it being a problem coin. Then it sold for more than 3x what it sold for the previous week.
Questions: is this a common practice in the coin business? Do dealers commonly buy ugly or problem coin and clean them to resale?
Questions: is this a common practice in the coin business? Do dealers commonly buy ugly or problem coin and clean them to resale?
Looking for a coin club in Maryland? Try:
FrederickCoinClub
FrederickCoinClub
0
Comments
let the buyer beware
michael