Before a purchase, where do you draw the line between the seller "not talking about the problem

TheLiberator

You know what I mean...right? Sometimes we have all passed on a coin (online) because the dealer accurately described some kind of not so obvious problem. Maybe this is a spot you wouldn't have seen, a rim ding etc. That seller then has just been denied the sale for being honest. Other times (sometimes heritage for instance), you will get a coin home only to have noticed a spot or something that you didn't see in the picture and they didn't bother to talk about it in the auction. Where do you draw the line between not talking about a coins problems and covering them up? IS there a line at all? Is it all up to the buyer? Is it all up to the seller? I am interested in what you guys think!

LeeG

Honesty is always the best policy. Tell it like it is, price accordingly, then usually a happy ending for all involved. Lee

morgannut2

If you haven't noticed, Heritage doesn't give a discription of their lower value material on the Exclusively Internet Auctions. Combined with the poor images IMHO you are really buying "sight-unseen Sheet" and almost need to bid accordingly.

TheLiberator

<< <i>If you haven't noticed, Heritage doesn't give a discription of their lower value material on the Exclusively Internet Auctions. Combined with the poor images IMHO you are really buying "sight-unseen Sheet" and almost need to bid accordingly. >>



Good advice! I made one purchase from one of those and I completely agree with you!

BigGreek

I draw the line along the lines of a coin getting body bagged at PCGS.
If the problem is that severe and it wasn't mentioned then that's hiding
the problem.

michael

well it would be nice for a seller to be perfectly honest and forthright in the descriptions of any items he sells but this usually doesnot happen in this world

and especially more so in the coin game

that is why you have to depend on yourself to look at a coin sight seen in hand and use good judgment and prudence before spending any of your hard earned money

and if you cant grade or know or understand or value what you are looking at and you are spending non discretionary funds and you cant see the coin in hand sight seen first .......................this is okie

juat let the buyer beware

roadrunner

There really is no such line at all, but merely the integrity of the seller. In my opinion, one should describe all faults that bother you as the current owner. While it may kill some sales for you, it's the only way for me. And it's probably one of the reasons why I sell 99% of what I sell to dealers only. It's their job to know what they're looking at. I'd prefer not to have to be honest as hell describing the flaws on a MS64 coin to a buyer, who then thinks I'm describing a MS63 coin! That's another one of the problems of constant gradeflation since 1986. We have multiple standards floating around in our heads. We'd like to buy closer to 1986 standards and sell closer to today's looser standards. Human nature.

roadrunner

Pistareen

Being in the auction business, I find that accurately describing a problem may cost you a sale on one coin but gain you a sale on two or three more down the road. Companies that depend upon consignments do have a requirement to mention all a coin's positive attributes, but they have a responsibility to both consignor and bidder to mention notable defects -- no consignor like getting a lower settlement back than they expected because a coin got returned because some terrible flaw wasn't mentioned.

This is why you might read a description like "excellent color and eye appeal, though some light hairlines are noted with a glass." The consignor is happy that you mentioned it looks pretty good, the bidders are satisfied that you came out and said there are hairlines, and everyone ends up better off in the end.

That stated, mentioning light marks on a VF coin, or each and every flyspeck on something graded MS-62 RB is probably overkill. VFs have marks, MS-62 RB have flyspecks, etc. Look at the photo, look at the assigned grade, and look at the description. Looking at only one of the above is only a partial story.

If an auction company can't say anything nice at all about a coin in a description, odds are decent that it will not win a beauty contest.