Passing on A Lesson Learned
Silvereagle82
Posts: 1,219 ✭✭✭
Guys,
Remember this post Auction Pick-ups - Gold & Silver?
Well I just got the gold German States - Augsberg 1689 Ducat back from NGC/NCS
and guess what
"NO GRADE - EF Details- Improperly Cleaned"
but the good news is I have contacted the Auction House and they have agreed to refund my money upon my return of the coin ( I'm lucky). Of course I'll still be out a $75 -$100 in S&H, NGC/NCS fees, etc.
but
I've assumed the value of the coin has been severely impacted by the cleaning ( 20-40%) and I had paid book value (Krause & Fr) for coin so I'm still better off in the long run. I have a couple of "problem" coins in my collection now so why have one more.
LESSON LEARNED : Buying "raw" coins from photos (in this case a scan) sight unseen from auction houses or dealers are not always without RISK !!
Remember this post Auction Pick-ups - Gold & Silver?
Well I just got the gold German States - Augsberg 1689 Ducat back from NGC/NCS
and guess what
"NO GRADE - EF Details- Improperly Cleaned"
but the good news is I have contacted the Auction House and they have agreed to refund my money upon my return of the coin ( I'm lucky). Of course I'll still be out a $75 -$100 in S&H, NGC/NCS fees, etc.
but
I've assumed the value of the coin has been severely impacted by the cleaning ( 20-40%) and I had paid book value (Krause & Fr) for coin so I'm still better off in the long run. I have a couple of "problem" coins in my collection now so why have one more.
LESSON LEARNED : Buying "raw" coins from photos (in this case a scan) sight unseen from auction houses or dealers are not always without RISK !!
0