Have you ever sold an ungraded coin to a dealer that neither you or the dealer were sure of it's aut

BLUEJAYWAY · March 8, 2024 8:41PM

Both sides agreeing to the transaction with no strings with both sides unsure of the coins authenticity.

BryceM · March 8, 2024 8:49PM

I once tried to buy some known counterfeits from a well-known national dealer to use in a presentation my local club. IIRC, he sent me five for a modest sum.

After I posted them here, several people commented that they might be genuine. I sent them in to our host. I think three straight-graded as MS coins and two got details BU grades. Well, they sure weren't very useful for my presentation. Eventually I sold them for a few hundred bucks. Maybe I should have given them back to the dealer for the cost of grading. I dunno. It's one of the weirdest things that's happened to me in this hobby.

BLUEJAYWAY · March 8, 2024 9:09PM

@BryceM said:
I once tried to buy some known counterfeits from a well-known national dealer to use in a presentation my local club. IIRC, he sent me five for a modest sum.

After I posted them here, several people commented that they might be genuine. I sent them in to our host. I think three straight-graded as MS coins and two got details BU grades. Well, they sure weren't very useful for my presentation. Eventually I sold them for a few hundred bucks. Maybe I should have given them back to the dealer for the cost of grading. I dunno. It's one of the weirdest things that's happened to me in this hobby.

So even the experts, on occasion, are duped.

BryceM · March 8, 2024 9:14PM

@BLUEJAYWAY said:

@BryceM said:
I once tried to buy some known counterfeits from a well-known national dealer to use in a presentation my local club. IIRC, he sent me five for a modest sum.

After I posted them here, several people commented that they might be genuine. I sent them in to our host. I think three straight-graded as MS coins and two got details BU grades. Well, they sure weren't very useful for my presentation. Eventually I sold them for a few hundred bucks. Maybe I should have given them back to the dealer for the cost of grading. I dunno. It's one of the weirdest things that's happened to me in this hobby.

So even the experts, on occasion, are duped.

Maybe not duped. Maybe he felt that the cost/benefit decision to have them graded wasn't worth it. If you buy an estate that contains a few dozen albums, you have to pick your winners somewhat efficiently.

TennesseeDave · March 9, 2024 2:23PM

Yes, several years ago I traded a raw 1873-S Trade dollar in AU condition to a dealer at the Knoxville coin show that Pcgs had returned to me as Authenticity Unverifiable. I told the dealer what Pcgs said, and he looked at it and thought it was genuine, as did I or I would not have submitted it in the first place. I got about $250 worth of coins for it. Here are pics of the Trade $.

may · March 9, 2024 4:14PM

@BryceM said:
I once tried to buy some known counterfeits from a well-known national dealer to use in a presentation my local club. IIRC, he sent me five for a modest sum.

After I posted them here, several people commented that they might be genuine. I sent them in to our host. I think three straight-graded as MS coins and two got details BU grades. Well, they sure weren't very useful for my presentation. Eventually I sold them for a few hundred bucks. Maybe I should have given them back to the dealer for the cost of grading. I dunno. It's one of the weirdest things that's happened to me in this hobby.

Do you have pictures of them?

lermish · March 9, 2024 4:31PM

@TennesseeDave said:
Yes, several years ago I traded a raw 1873-P Trade dollar in AU condition to a dealer at the Knoxville coin show that Pcgs had returned to me as Authenticity Unverifiable. I told the dealer what Pcgs said, and he looked at it and thought it was genuine, as did I or I would not have submitted it in the first place. I got about $250 worth of coins for it. Here are pics of the Trade $.

Definitely a counterfeit 73-P...because it's a 73-S

TennesseeDave · March 10, 2024 5:42AM

@lermish said:

@TennesseeDave said:
Yes, several years ago I traded a raw 1873-P Trade dollar in AU condition to a dealer at the Knoxville coin show that Pcgs had returned to me as Authenticity Unverifiable. I told the dealer what Pcgs said, and he looked at it and thought it was genuine, as did I or I would not have submitted it in the first place. I got about $250 worth of coins for it. Here are pics of the Trade $.

Definitely a counterfeit 73-P...because it's a 73-S

My mistake, it was a 73-S

BryceM · March 10, 2024 7:36PM

@Ownerofawheatiehorde said:

@BryceM said:
I once tried to buy some known counterfeits from a well-known national dealer to use in a presentation my local club. IIRC, he sent me five for a modest sum.

After I posted them here, several people commented that they might be genuine. I sent them in to our host. I think three straight-graded as MS coins and two got details BU grades. Well, they sure weren't very useful for my presentation. Eventually I sold them for a few hundred bucks. Maybe I should have given them back to the dealer for the cost of grading. I dunno. It's one of the weirdest things that's happened to me in this hobby.

Do you have pictures of them?

Nope. It was a long time ago. You might be able to find the thread, but the photos might not still be there.

Have you ever sold an ungraded coin to a dealer that neither you or the dealer were sure of it's aut

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