You get sent a problem coin - on return Dealer says "on stuff under $100 we just buy the holder
magikbilly
Posts: 6,780 ✭
You buy a coin under $100 as a gift and get sent a certified PCGS coin that is also a "problem" coin - upon a successful return the Dealer says "well, on stuff under $100 we just buy the holder, we don't really look at the coins so some junk can slip through"..What do you think of this comment and a Dealer who would make it? Do you think a $25 coin deserves as much attention as a $675 coin or a $6500 on? To a good degree, I do.
Best,
Billy
Best,
Billy
0
Comments
<< <i>Do you think a $25 coin deserves as much attention as a $675 coin or a $6500 on? >>
It really depends on the dealer's normal market. If they usually sell high dollar stuff but occasionally get lower dollar stuff in as part of acquiring collections, I can understand that attitude. I don't necessarily agree with it, but do understand it.
If they regularly deal in $25 coins than I think they definitely have an obligation to make sure that their product measures up before sending it to their customer.
Russ, NCNE
<< <i>You buy a coin under $100 as a gift and get sent a certified PCGS coin that is also a "problem" coin >>
What do you mean by "problem" coin?
A problem coin shouldn't be in a PCGS holder.
<< <i>I think its a really good time to find a new dealer. >>
Agreed.
Billy
After all, if you don't care about the quality of coins less than $100 in your inventory, are you going to care about clients who spend less than (insert value here)?
What about the guy who does a small value order to "test" the dealer? I guess the dealer doesn't care if he sends the guy crap and has no further dealings with them.
What it all boils down to is that the quality of items that are going out the door to your clients is the primary way that you get your "image" out there. If you send crap, your image is that of a dealer who deals in crap.
Which begs the question, "Why even bother wasting your time?"
<< <i>
<< <i>You buy a coin under $100 as a gift and get sent a certified PCGS coin that is also a "problem" coin >>
What do you mean by "problem" coin?
A problem coin shouldn't be in a PCGS holder. >>
A problem coin in this case is a low end example - an original coin yes, but with one or more large problems (aka scratches) in primary focal areas that will always be obvious without a loop despite being graded PCGS MS66 and PR66 - imagine the coin which you would never buy because those marks are unavoidable (not even "the tiny hairline in the worst place", but "the four scratches in all the wrong places on the obverse"..). These problems were not described over the phone and were not visible in online scans.
Billy
K S
Cameron Kiefer
So let me get this straight: the dealer just buys the holder on stuff under a $100, right? Doesn't even look at the coin, right? Hmmmm. Okay, please send me his phone number via pm. I can buy a bunch of slabbed stuff under $100 for cheap due to problems (overgraded, scratched, cleaned, ugly, etc.). Glad to know that I have placed to dump junk without any hassle.
Of course I am just joking. But I doubt that the dealer was serious when he said that they don't even look at the coin if it's under $100. Or....maybe they look at the coin when they are buying it, but not when they are selling.
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I am not sure I was saying the Dealer was responsible - they have a return policy I took advantage of. Perhaps problem coin is the wrong term but I think I am using it correctly. They might have disclosed the marks too. I was looking to see what people though of those comments.
Dog97 - "...and I'll tell you what I REALLY think about PCGS, the dealer and the scuzzbucket that gave you such a POS as a gift."
I was the gift giver - I ordered this as a gift for someone.
kieferscoins - (Hi Cameron
Jade - I think you may be right re only looking when buying - they have eagle eyes when buying and offers show this
Best,
Billy
<< <i>These problems were not described over the phone and were not visible in online scans. >>
If you got a description and images of the coin, these problems certainly should've been noticed by the dealer IMO.
I think a good seller should always point out any problems with a coin to a prospective buyer, especially if they are not visible in a scan or photo. Just because it happens to be in a holder doesn't mean that the seller should ignore how the coin looks....
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Dorkkarl - Would the dealer be responsible if it was a raw coin? Why?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
really all anyone needs to build a nice collection and get full descriptions. And I KNOW YOU look closely enough to protect yourself at an auction for sight-seen stuff!!
<< <i>if a "problem" coin is in a pcgs holder, TAKE IT UP W/ PCGS. the dealer is NOT responsible & should not be held accountable, regardless of if it's a $25 coin, or a $197,536.33 coin.
Dorkkarl - Would the dealer be responsible if it was a raw coin? Why? >>
YES, absolutely, because then the dealer is selling HIS opinion that the coin is "problem-free". the difference is PCGS said the coin was problem- free -because it's in a holder. the dealer is merely a clearinghouse for something that PCGS is certifying, therefore if there's a problem w/ what's certified, the solution lies w/ the certification co.
read it again:
You buy a coin under $100 as a gift and get sent a certified PCGS coin that is also a "problem" coin >>
if it's a problem coin in a pcgs slab, then pcgs screwed up, NOT the dealer
of course, it was not proven to us that it was a problem coin, we're going by what magikbilly alleges
K S
alleged..hmm. I was pretty clear - so I'll repost what I originally said with a qualifier:
"A problem coin in this case is a low end example - an original coin yes, but with one or more large problems (aka scratches) in primary focal areas that will always be obvious without a loop despite being graded PCGS MS66 and PR66 - imagine the coin which you would never buy because those marks are unavoidable (not even "the tiny hairline in the worst place", but "the four scratches in all the wrong places on the obverse"..). These problems were not described over the phone and were not visible in online scans."
I will add, a coin like this might be condsidered by some to many to be properly graded technically - however it is a "problem" piece in that no one will want it - it will always be chosen last from several examples if you like.
Billy
I would think many dealers would/do buy many coins from a particular seller as fillers and cheap "gifts" in their inventory. IF this seller was approached by some one who had 10 - 15 coins (in PCGS slabs) I rather doubt it he would take the time to really LOOK at this particular coin. It's graded MS66 by PCGS and it's a $25 coin to boot. He probably just looked at the holders and added up a price he offered the seller of the 10 - 15 coins. The dealer would be taking PCGS's word (They slabed it) on the grade and such ... For $25 I wouldn't stress it ... Lesson learned and just don't buy from him again ... Cheap coin .. Cheap lesson .. If it was sold for $25 I'm sure the dealer didn't pay that making his mark up not very much ... If you wanted a high end $25 MS66 you should always look at the coin in hand. I really doubt he would have sent it to you on approval ...
Yes .. someone will want it ... put it up on eBay ...
Perhaps If I bought a $50 coin...or $150...Maybe $1,500...I wonder where does the dealers responsibility to provide some accuracy kick in? Low price coins don't matter as much? True I guess, but sad. What does one have to spend to get a proper description and the priveledge of spending money? All the other coins I have purchased from them were NOT $25 - many over $400 and several in the last year. I had this coin described over the phone - if I bother to call up they could bother to mention obvious marks in primary focal areas - $25 or $25,000 - the grade is important, at least to me and I was buying it. Yes, they were sent back and accepted. No, there were no restocking fees. Just a waste of my time. No need for eBay - the items were returned at once and I will go elsewhere in future. This dealer has lousy online images anyway, although that can work to your advantage.
Billy
<< <i>You buy a coin under $100 as a gift and get sent a certified PCGS coin that is also a "problem" coin - upon a successful return the Dealer says "well, on stuff under $100 we just buy the holder, we don't really look at the coins so some junk can slip through".. >>
I think you are being a bit hard on this dealer. You got your money back, no questions, you've purchased coins in the past and have been happy.
What's the problem??? Someone can't make a mistake???
He didn't say all of our coins under $100 are junk. He said some junk can slip through? Did you consider the coin you got as junk? He's just being honest. I don't think from his statement that all cheap coins are considered junk by the dealer.
What coin did you buy for $100? Did you pay above the sheets for it (PQ money)? Did you pay under the sheets for it? Did you think you got a good deal on the coin, until you saw it?
Tell us what coin and in what grade, then we'll know if you paid for a problem coin or a problem free coin?
It was actually 2 small coins - I was trying to make this generic and maybe that was a mistake....the coins..lemme see..they were gifts for a kid. War 5c 44-S, and the other was a 66 5c SMS in 66. $50 for the pair. The War 5C had several unmissable large gouges above the dome I could see on a table without my glasses (thats bad), and the other had 4 cuts, one on the cheek in "the worst spot"
Billy