Do TPG's go after exposed coin doctors?

stinkinlincoln · July 11, 2009 3:14PM

IIRC I recall hearing that TPG's would go after coin doctors if caught... Is this true, and if so, how? & has this ever happened?

I hate doctored coins, but if someone wants to do this to their own coins thats their choice. But if they sell them as original, is that not fraud?

CHAMELEON · July 11, 2009 3:16PM

Yup, that is fraud if they advertise it s original.

shottaker · July 11, 2009 3:22PM

NGC takes away submission rights.
PCGS does the same

Not sure if they could make the fraud deal stick in a court of law unless they could show a pattern of the person doing it for personal profit. They would catch some that fleabay their items or keep accurate records/take checks.

A lot of that stuff gets flipped for cash after holdering I'm sure.

Catching the real pros would be tough.

stinkinlincoln · July 11, 2009 3:27PM

So they dont go after them? They just slap the hand that doctors the coins and makes everyone look bad?
Good response I guess.

They can still doctor coins and have someone else send them in cant they?

CHAMELEON · July 11, 2009 4:35PM

I reported one guy to NGC that had a LOT of AT coins slabbed. He is still around, but I haven't been seeing much of the crap that was being certified since I talked to NGC. So, yeah. A slap on the hand appears to be the action taken.

Bochiman · July 11, 2009 4:37PM

Aside from taking away submission rights, unless the coin doctor fully admitted it and showed evidence, what could they really do?
If they had a written "confession" and evidence of the doctored coins, AND proof of loss (due to guarantee payouts), then I would imagine they would have a leg to stand on.

Absent that, though, I would be really curious what they could do......?
They won't say who they suspect as they don't want to be sued in this day and age.
So, what could they do....?

ricko · July 12, 2009 12:05AM

I am sure their profits are applied in other areas rather than pursuit of something they really cannot prove. The really great doctors do not get caught, and the not so great sell to collectors who cannot tell the difference and are all starry eyed over meaningless color on metal. Cheers, RickO

BAJJERFAN · July 12, 2009 12:10AM

There was a thingy a few years back where PCGS paid off I think 5 figgers for a coin that Laura complained about here. IIRC PCGS was going to go after the submitter to recover their $$$.

ricko · July 12, 2009 5:03AM

How did that work out for them??? Obviously not very well or we would have seen it posted all over the place. As I said in another thread, they will not be stopped as long as a market exists - and the toning fanatics and neophytes will continue to provide that market. Cheers, RickO

Bear · July 12, 2009 5:28AM

Sorry, wrong thread.

GoldenEyeNumismatics · July 12, 2009 5:32AM

<< <i>I hate doctored coins, >>

No, you only hate the doctored coins that you've been told are doctored or have been able to recognize.

FatMan · July 12, 2009 5:34AM

TPGs want you to believe they go after coin doctors but they are much more interested in the dollars from their submissions than they are in shutting them down.

MikeInFL · July 12, 2009 5:45AM

<< <i>Aside from taking away submission rights, unless the coin doctor fully admitted it and showed evidence, what could they really do?
If they had a written "confession" and evidence of the doctored coins, AND proof of loss (due to guarantee payouts), then I would imagine they would have a leg to stand on.

Absent that, though, I would be really curious what they could do......?
They won't say who they suspect as they don't want to be sued in this day and age.
So, what could they do....? >>

Even an admission on the NGC forums is apparently not enough:

NGC, as far as I know, has taken no action whatsoever.

19Lyds · July 12, 2009 6:05AM

"Do TPG's go after exposed coin doctors?"

Only if they can catch them while they are exposing themselves!

pennyannie · July 12, 2009 6:24AM

Coin docs are not high on the list of items that need to be fixed. Lawsuits are expensive even if you win and plain scary to be involved in.

stinkinlincoln · July 12, 2009 6:26AM

<<Even an admission on the NGC forums is apparently not enough:>>

Ive seen that coin on ebay before...

Is cleaning a coin doctoring?

Also, I do remember on the ebay listing that coin was advertised as 100% original. To me, that IS fraud. It was priced at several thousand dollars.
Also, isnt it the only star MPL in the entire series at NGC? If so, doesnt that speak volumes about NGC and their grading standards?

Pushkin · July 12, 2009 6:28AM

Thanks to PCGS, NGC and CAC our prisons are now overflowing with incarcerated coin doctors. Another example of a highly successful "The War on ...", The War on Coin Doctors.

Do TPG's go after exposed coin doctors?

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