Dumb question on Heritage..

Julio

Take six months to pay. Way I read it you have to buy at least a $2500 coin. $2499 would not qualify? Can you but 3 with a total over $2500 but would not qualify for the 6 month extended plan if auction ended up @2499.00. I've let 3 poeople read their policy and I got 3 different opinions.
Just in case you are wondering I do not buy coins on credit. I am just curious. TIA. jws

GoldenEyeNumismatics

$2500 is the cutoff... so presumably, if your total was $2499.99 you would not qualify unless perhaps you called them up and argued your case

Julio

Thanks Golden Eye that was my read on their policy. jws

USAROK

The $2,500.00 amount is your total invoice price before any taxes and shipping charges are added. The invoice can be for a single coin or many coins just so long as it totals $2,500.00 or more.

rec78

This is a good question. But- what if you get two different coins on two different days?. Say one on the 6th and one on the 8th and they each go for $1700.. can you combine invoices ? i asked them this at least twice (in emails) and did not get a definative answer-their return email just restated the policy as written. The policy is rather vague and if you buy from inventory then the minimum goes down to $2000. So because of a vague email that just confused me more-i did not bid at all.Instead of getting two coins that i would have paid off in 6 months i got none and they got no bids. I did not have enough to purchase either one outright but would have had enough to purchase both if i had the 6 months to pay. OH WELL. Not a problem their loss-not mine-i spent the money elsewhere. Bob

garsmith

<<what if you get two different coins on two different days?. Say one on the 6th and one on the 8th and they each go for $1700.. can you combine invoices ?>>

It is my understanding that if the coins are from the same auction i.e. the Long Beach Coins and Stamp Show series of auction sessions they would qualify because you are billed on one invoice. If the coins are from two separate auctions where you receive two or more separate invoices it is based on the total of each individual invoice not the combined invoices!

ER

I think the most correct answer probably would be from Heritage. Just give them a call.

LeeG

I've used this program twice. Both totals were under the $2,500 threshold. Communication and a clear record are the key's I think.

Conder101

If your invoice comes in at $2499, just tell them to up your bid on one of the coins a hair. You were the winning bid so it won't matter to the under bidder, It gets you over the threshold, the consignor gets a tad more, and you get six months to pay. Everybody wins.

Julio

Thanks all; I've got an E-mail into them and I do believe a call would help depending on whose on the other end. Right now I'm thinking $2500 minimum which can be different coins if in the same auction. Bottom line is either I'm just stupid or the policy could be dummied down to where I was confident that I was correct. I think I'll call but I'd still like something in writing. It does state clearly that you can pay off early which was good news. I could never wait 6 months for a coin
My plan should I go over the edge and see that special coin I just have to have would be to go to my local bank. They know my name and I know their policy. A 30/90 day note get's my coin a lot quicker and I know exactly what I signed up for. jws