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I have a new one... straight from the bourse floor.

2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭
in U.S. Coin Forum
This last weekend I attended a local coin show. I feel that a common sales tactic on the bourse is to describe a TPG coin as "under graded". Particularly in the era of CAC stickers, and the potential to beholder OGH. However I heard several coins this weekend, from multiple dealers & collectors describe coins as "over graded". Whats the rationale behind this sales tactic?

Has anyone else heard any other confusing sales tactics, or descriptions?
WTB... errors, New Orleans gold, and circulated 20th key date coins!

Comments

  • MsMorrisineMsMorrisine Posts: 35,566 ✭✭✭✭✭
    maybe they were trying to be honest.
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • 2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭


    << <i>maybe they were trying to be honest. >>




    this could be true... but the coins being described were not in OGH, they were in Secure Plus holders...
    WTB... errors, New Orleans gold, and circulated 20th key date coins!
  • illini420illini420 Posts: 11,466 ✭✭✭✭✭
    I recently was at a local coin shop and was looking at a Seated Quarter graded PCGS VF with a price marked on it that I thought was a good deal. I looked at it under my loupe and before I could say that I wanted it, the shop owner said, "looks more like a Fine, doesn't it?" I said the coin still had a nice look to it and before I could buy it at the stated price, the dealer offered it to me for another $10 off! I think it's probably a F coin under the strict ANA grading standards, but it's a nice VF based on other PCGS coins I've seen of the series... image

    Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448

  • aclocoacloco Posts: 952 ✭✭✭
    Reverse psychology.
    Successful BST transactions with: jp84, WaterSport, Stupid, tychojoe, Swampboy, dragon, Jkramer, savoyspecial, ajaan, tyedye, ProofCollection, Broadstruck x2, TwinTurbo, lordmarcovan, devious, bumanchu, AUandAG, Collectorcoins (2x), staircoins, messydesk, illini420, nolawyer (10x & counting), peaceman, bruggs, agentjim007, ElmerFusterpuck, WinLoseWin, RR, WaterSports, KeyLargRareCoins, LindeDad, Flatwoods, cucamongacoin, grote15, UtahCoin, NewParadigm, smokincoin, sawyerjosh x3
  • BochimanBochiman Posts: 25,556 ✭✭✭✭✭
    So, the dealer(s) describing them as "over-graded"....were they pricing them accordingly (ie...the lower grade's price) or were they still priced at the higher grade?
    I have seen a few dealers, generally on the forum here, describe their own coins as over-graded and also price accordingly. Seldom on the bourse (but I have seen one or two local ones do that).

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • BAJJERFANBAJJERFAN Posts: 31,234 ✭✭✭✭✭


    << <i>This last weekend I attended a local coin show. I feel that a common sales tactic on the bourse is to describe a TPG coin as "under graded". Particularly in the era of CAC stickers, and the potential to beholder OGH. However I heard several coins this weekend, from multiple dealers & collectors describe coins as "over graded". Whats the rationale behind this sales tactic?

    Has anyone else heard any other confusing sales tactics, or descriptions? >>



    Were they selling? Or buying?
    theknowitalltroll;
  • Cougar1978Cougar1978 Posts: 8,759 ✭✭✭✭✭
    I can't imagine a seller describing his material as overgraded. A more pertinent question would be if he feels its overgraded then why is it in his case / display?
    Coins & Currency
  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭
    What were the issue, grade and price involved? If it were a.....????? then a clearer picture of the potential transaction's financial underpinnings and the dealer's rationale might be speculated upon. Whatever makes you believe that a coin in a Secure Plus holder should be considered free of such considerations per the well-established principle of "buy the coin not the holder"?

    Did you engage the dealer in discussing these factors?

    How about "this coin is on consignment from a customer. I didn't sell it to him, told him I'd only sell it at a discount because I have no upside in selling it to someone who thinks I'll buy it back". That's enlightened self-interest since it covers both your *sses.

    You can be sure someone here would then say "so he wants to sell it to another dealer who can make a score screwing a different customer".

    To which my response would be "Grow up".

    We can speculate endlessly.

    Consider my remarks to be a variation on "This thread is useless without picture".
    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • 2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭
    One of the coins was a $10 eagle (Indian) graded ms 63 secure plus. I forget the date & mm put it was priced higher than pcgs price guide for the assigned grade. I also saw a dmpl dollar the same way. These coins were both being offered for sale from different dealers.
    WTB... errors, New Orleans gold, and circulated 20th key date coins!
  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭
    Then I can only laugh at the mysteries of human nature. image

    Theirs, not yours.
    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • CoinspongeCoinsponge Posts: 3,927 ✭✭✭
    Trust is important in sales. Could be an attempt to build trust.
    Gold and silver are valuable but wisdom is priceless.
  • valente151valente151 Posts: 1,070 ✭✭✭
    Perhaps some of these coins that are being described as overgraded, could instead be problem coins that slipped through, and the dealer knows he wont be able to sell them to a knowledgable collector if they notice the problem, so he describes them as overgraded to make the customer think thats the only thing wrong with the coin, hoping they'll look over someother unnoted problem? just a guess.
    My Retired Toned Proof Mercury Dime Set
  • lkeigwinlkeigwin Posts: 16,893 ✭✭✭✭✭
    Perhaps he figured you might buy something else, and feel good about his honesty and tough standards?
    Lance.
    Coin Photography Services / Everyman Registry set / BHNC #213
  • gripgrip Posts: 9,962 ✭✭✭✭✭
    Was there a bottle of wine at the table,and mustard stains on his shirt?image
  • 2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭
    I am not bashing the dealer, I am was just taken back. I am use to dealers selling OGH as guaranteed upgrades or sticker candidates... I agree with buy the coin not the holder... however when a dealer shares that he feels a coin is overgrazed but is asking for FMV at the assigned TPG grade, one must scratch their head!

    am i right or am i right?
    WTB... errors, New Orleans gold, and circulated 20th key date coins!
  • renomedphysrenomedphys Posts: 3,800 ✭✭✭✭✭
    I have heard this from dealers before. Also the use of the phrase: "in its final resting place" as if to say that it'll never grade higher, and you'd have to be crazy to crack it out.

    Empty Nest Collection

  • gripgrip Posts: 9,962 ✭✭✭✭✭
    Sounds like he was joking.
  • camlov2camlov2 Posts: 123 ✭
    After saying a particular coin was overgraded did they then show you other coins that they felt were correctly graded? Bait and switch? Trying to sell something else out of their case?
    Looking for Northern California National Bank Notes, Chico, Redding, Oroville.
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>it was priced higher than pcgs price guide for the assigned grade.
    ...

    however when a dealer shares that he feels a coin is overgrazed but is asking for FMV at the assigned TPG grade... >>

    This assumes the PCGS price giude is an accurate reflection of current pricing for the coin in question. Do you know that this is so?
  • DeliaBugDeliaBug Posts: 881 ✭


    << <i>

    << <i>it was priced higher than pcgs price guide for the assigned grade.
    ...

    however when a dealer shares that he feels a coin is overgrazed but is asking for FMV at the assigned TPG grade... >>

    This assumes the PCGS price giude is an accurate reflection of current pricing for the coin in question. Do you know that this is so? >>



    The only coin I would trust that price guide on is the unique Type 2 1804 dollar which is A. Impounded and B. Not in PCGS plastic. And that begs the question - where did that price come from in the first place???

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