If you were the customer submitting coins

TwoSides2aCoin · January 4, 2013 6:28AM

Would you be happy with these results ?

1878-S $1 USA MS63
1880-S $1 USA MS62
1881-S $1 USA MS65
1881-S $1 USA Genuine - UNC Details (91 - Questionable Color)
1882-S $1 USA Genuine - UNC Details (91 - Questionable Color)
1882-S $1 USA Genuine - UNC Details (91 - Questionable Color)
1883-O $1 USA Genuine - UNC Details (91 - Questionable Color)
1883-CC $1 USA MS63
1884-O $1 USA MS64
1885-O $1 USA Genuine - UNC Details (91 - Questionable Color)
1886 $1 USA MS62
1887 $1 USA MS63
1889 $1 USA Genuine - UNC Details (91 - Questionable Color)

Tell ya why I am elated. I sold these to a collector raw. He was looking for "toned coins" when he purchased them about a year ago. Some may remember the toned CC coins I posted (82, 83, & 84). I bought back 2, after he decided he didn't like them. But why ? Well all of the above were "questionable color" ATS.
Then, as it stood, he returned to the shop about 6 weeks ago , unhappy. All the coins were in THEM holders. "Drats," I thought. All were "genuine" ( I knew that) . All were considered questionable (improperly stored, maybe ? ). My heart kind of sank and I felt dejected like I just got dumped by a girlfriend, or somethin'.
After a sigh and a little whimpering , I told him that I would crack them out and "submit" them to PCGS. And that had I "known I would be under such scrutiny", it did not feel right. But alas... I have to carry the torch and be upstanding.
Sucks as it may, he wanted his $480 back on two of the CC's that were part of the trio. I gladly bought them back, even though I said, "Hey, you sent these off without even calling me and expect a grade on them at the TPGs ? "

I bought them from a lady and know the history of how they were kept. They're nice , but I would not usually spend MY money on most of these to be encapsulated, but am still elated. The coins are lovely looking and I'm not even a toner lover. But, I am NOT the customer in the shop. I am the vendor. What would YOU expect from your dealer ?

I have to say, if he is not happy, I'll be happy to buy them back at the price I sold them to him for.
I usually don't like "ranting", .. I just needed to for therapy.

For my friends of coins.... It's just another day on the beat. The beat down, that is.

LindeDad · January 4, 2013 6:40AM

Economy grading is now $20.00 per when they go back right?

nwcoast · January 4, 2013 6:57AM

That's more than I might expect from a dealer. You were very generous IMO.
He took a gamble with the toning and buying raw coins to begin with...
Interesting that ATS would AT them all though..
I'd love to see some photos if you have em...
Don't beat yourself up!

Ohh, and to answer the question.... Having not seen the coins, I guess I'd be pretty happy with about half the submission, and much happier than having them ALL come back 'questionable'.

Edited for last comments:

roadrunner · January 4, 2013 7:27AM

If I were selling toned coins to a customer/friend and I had any doubts about the coins being potentially AT, I'd certainly mention that as a part of the deal.
Based on the selling price I would either guarantee the toning or not. Usually any coins I have doubts on get wholesaled to dealers. You don't want those coins
going to customers w/o full disclosure. And even then, it's not often a wise route. It's hard not for it to end up as a lose-lose situation.

mrpotatoheadd · January 4, 2013 7:35AM

IMO, unless such an agreement is made at the time of purchase, a buyer expecting a guarantee of grades is a bit over the top. Had he gotten a couple of 66's or 67's instead of questionable color holders, what do you suppose the chances are that the buyer would have kicked a few extra bucks your way?

ricko · January 5, 2013 1:27AM

I only see one CC listed in your post....and not sure why he would be upset with that grade. Did he buy them with the impression they were a higher grade? As to the questionable color issue, I would issue a warning with any tarnished coin (raw) that it is a risk if submitting for grading.... and NOT guarantee them. Cheers, RickO

Swampboy · January 5, 2013 7:26AM

So you bought these from a little old lady coin doctor?
What did you expect?

pm sent on the genny dollar gold.

TwoSides2aCoin · January 5, 2013 8:15AM

I think the lesson here was : Grading toned coins is tricky.
Ultimately dealing with the customer is easy. I price raw coins according to what I perceive the grade to be. If it's a "problem" coin, I point that out when I believe it to be. Likewise, it's my belief that the customer should have some liberties. What may be a loss in profit could be a gain in trust. Buying back , for me, makes good sense.

I do appreciate the input and feedback. And the toned "gennies" are good looking coins, but not mine to sell

There is the possibility that a few more "attempts" could get those "gennies" in graded holders. Just FYI, Joe Public.

DNADave · January 5, 2013 8:28AM

"I gladly bought them back, even though I said, "Hey, you sent these off without even calling me and expect a grade on them at the TPGs ? "

I don't get this statement. I've bought lots of coin from dealers and sent them off, expecting a grade at the TPG's. I, however, put the responsibility on myself (for buying them), not on the dealer if they don't grade.

TwoSides2aCoin · January 7, 2013 5:42PM

<< <i>"I gladly bought them back, even though I said, "Hey, you sent these off without even calling me and expect a grade on them at the TPGs ? "

I don't get this statement. I've bought lots of coin from dealers and sent them off, expecting a grade at the TPG's. I, however, put the responsibility on myself (for buying them), not on the dealer if they don't grade. >>

Dave, thanks for the opportunity to address your misunderstanding.

I totally agree with you with regards to "purchasing". Caveat Emptor.
It is the responsibility of each of us to be cognizant of our world and the pitfalls that lie before us. It's difficult with coins, gold , jewelry and second hand goods, overall. Not just in coins, but every field of study or play.
How many football players aren't first looking out for their own body before they try to maul their way to the pigskin, even as it's a team effort ? They look like monsters, but have style and grace with their brawn. And it's a fun sport ? Sure, so is hunting ( let's sit in a deer stand and freeze all day with a thermos of coffee and a rifle ).
With coins, it's a solitary hobby, but dealers should have allowances like every merchant. It's not a requirement. And buy backs don't have to be 100%. I could have said I buy back at 80%. It just did not seem fair.

The customer in this case loves toners like our illustrious Bajjerfan. He seeks them out and wants them graded. Perhaps initially he tried to save money using the services ATS. (speculation) The fact that he did not get the grades and brought the coins back to me is indicative of the fact that he trusted me. ( cause for my elation ) ... If I had known he was going to "try" getting them slabbed, I could have saved him the trouble and told him to use PCGS. I wasn't thinking, I suppose.

As a matter of record, not EVERY coin that he brought back to me on his second visit was purchased from me. There were some "raw" specimens and I can pick them out and photograph them .... but because of my inabilities as a photographer would be "fruitless" to try. Those I sold were from an estate( L. O.'s grandfather's ), were much darker, yet close to the same shades of magenta and purples as what I'm posting.
The gennies have that AT sorta look and anyone who's seen a lot of toners would understand them going "questionable". There is a hue about them that is too vibrant, in my opinion. Too clean and too shallow.... I guess if a person saw enough toners they'd kind of understand the intricacies involved. The "layers" of skin is how I can best describe what I see. It's not so much the color of the coin but I'm probably sounding like a lost analyst...it's more the "depth of color" as viewed angularly.
I try to stick with what I know so "fairness" is my doctrine, basically.

However, as a dealer who was primarily a "collector gone wild" when I purchased this ongoing name and shop about 4 years ago, it pains me to get rid of any coin that I "LIKE".... so, it is in that respect, " I gladly bought them back". ZERO PROFIT for goodwill.

Don't get me wrong, I'm not your typical "toner" lover.... but there are exceptions to the rule.
Here are 3 of them.

The 1882 and 1884 are cracked out of the NGC holders and back in my Dansco Album. You can see where the 1883 is in the submission above. I needn't post the reverse images, me thinks. They're bright white where they weren't exposed to the air, for the most part. The rims toned a bit.

edit to add the reverse image.

LanceNewmanOCC · January 7, 2013 8:43PM

<< <i>I've bought lots of coin from dealers and sent them off, expecting a grade at the TPG's. I, however, put the responsibility on myself (for buying them), not on the dealer if they don't grade. >>

this. we all know just because they don't grade once, doesn't mean they won't next time. of course getting some noob to understand all the nuance surrounding submitting coins is probably moot.

i won't say it was the right thing to do to buy them back but may have been worth it not to hear all the whining.

exceptions would be if you said the toning was good and/or said that the coins would most likely get grades or the like, but i gather from what you said that none of this took place. the person probably thought they were getting some out of you and were going to make good but turned into an infant when things didn't go their way. sorry to hear it.
.

If you were the customer submitting coins

Comments

Leave a Comment