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Coin cert. verification now links past auction results
fastfreddie
Posts: 2,902 ✭✭✭✭✭
Hypothetically, as a seller who just got a great deal as a buyer at auction and wanted to 'flip', I would be inclined not list the cert. number or photo the entire slab on my Ebay or alike listing for fear it could give a potential buyer too much information and could hurt me on a counteroffer or otherwise.
Ebay's policy is "...In addition, listings for certified coins must include an image of the item, showing the coin in its graded holder. The image needs to be clear and the grading company, grade, and certification number should easily be readable."
The cert. 'should ' be easily readable - I think you can get away with hiding it as I have seen on some auctions.
Has PCGS created a headache for a would-be seller or is this just open and honest fairness and access of public information? Now I don't have to do as much homework, just look up the cert. history and BOOM there it is - if any exists. Known auction history reporting shown is: Heritage, Teletrade and DLRC - no Ebay yet.
Case in point:
Cert Verification #: 21414527, Mintage: 710, PCGS Price GuideSM Value: $1,650
Auction Appearances of This Coin:
Date Price Firm Sale Notes
2/3/2011 $1,380.00 Heritage 2011 February Long Beach Signature US Coin Auction #1152
1/7/2004 $1,121.00 Heritage 2004 Orlando, FL (FUN) Signature Sale #336
So this coin (in general) went up 23% over 7 years and now the seller wants another $270 for less than a months time. Hmmm, this tells me this ain't a good deal unless it was an auction sale fluke. Of course I would check other sources of information to determine value. All else equal if may be another 7 years before it's worth $1650 - regardless of what the trend guide says. So in a brief look at this auction, I would say - PASS.
A seller's profit margin may be at risk...
Ebay's policy is "...In addition, listings for certified coins must include an image of the item, showing the coin in its graded holder. The image needs to be clear and the grading company, grade, and certification number should easily be readable."
The cert. 'should ' be easily readable - I think you can get away with hiding it as I have seen on some auctions.
Has PCGS created a headache for a would-be seller or is this just open and honest fairness and access of public information? Now I don't have to do as much homework, just look up the cert. history and BOOM there it is - if any exists. Known auction history reporting shown is: Heritage, Teletrade and DLRC - no Ebay yet.
Case in point:
Cert Verification #: 21414527, Mintage: 710, PCGS Price GuideSM Value: $1,650
Auction Appearances of This Coin:
Date Price Firm Sale Notes
2/3/2011 $1,380.00 Heritage 2011 February Long Beach Signature US Coin Auction #1152
1/7/2004 $1,121.00 Heritage 2004 Orlando, FL (FUN) Signature Sale #336
So this coin (in general) went up 23% over 7 years and now the seller wants another $270 for less than a months time. Hmmm, this tells me this ain't a good deal unless it was an auction sale fluke. Of course I would check other sources of information to determine value. All else equal if may be another 7 years before it's worth $1650 - regardless of what the trend guide says. So in a brief look at this auction, I would say - PASS.
A seller's profit margin may be at risk...
It is not that life is short, but that you are dead for so very long.
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Comments
I don't understand how this post just slipped past the first
page with no one interested.
If smoeone has a PCGS # and enters it in the certification verification
link they will obtain the following information, if it is available:
* The type, grade, holder type, pop, & PCGS price guide value of the coin
* Any auctions the coin appeared in, with a link that takes you to that lot
sale page & what the coin sold for
* A link to & name of what set it resides in currently at PCGS
Many list there sets with images of the PCGS slab with the coin # shown.
Many list there sets with images of Trueviews that have the coin # shown.
Many dealers are selling coins that show the coin #.
It would seem that perhaps some would want this information to remain
confidential, if only for security reasons.
Anyone else with an opinion?
R.I.P. Bear
I for one favor this addition, especially with all the counterfeit slabs on the market
and am glad PCGS is doing something visible for the collectors to help
prevent them from being defrauded and help PCGS maintain their market dominance
I am not sure what big dealers will feel about this
and whether those prices include premiums, shipping, and travel expenses
<< <i>I don't understand how this post just slipped past the first
page with no one interested. >>
Goldbully posted a thread about this a day earlier than this thread. Link
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
<< <i>
<< <i>I don't understand how this post just slipped past the first
page with no one interested. >>
Goldbully posted a thread about this a day earlier than this thread. Link >>
Yes, that is where I first heard of it. It just seemed to pose an interesting dilema IMHO.