Auction Hijinks...Auction house, Grading Company, consigner? UPDATE

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lermish
lermish Posts: 4,999 ✭✭✭✭✭
edited August 8, 2024 8:04PM in U.S. Coin Forum

I have no idea who is being...optimistic?.. here but it's certainly one (or all) of the related parties. This auction is posted to Proxibid:

https://www.proxibid.com/Coins-Currency/Coins/Major-Highlight-1876-cc-Trade-Dollar-Chopmarked-1-Select-Unc-USCG-fc/lotInformation/85873384#topoflot

My buddy sold this coin on GC a couple of months ago:

https://www.greatcollections.com/Coin/1579881/1876-CC-Trade-Silver-Dollar-Chop-Mark-PCGS-AU-58

I don't know what to say without running afoul of forum rules.

chopmarkedtradedollars.com

Comments

  • World67
    World67 Posts: 13,098 ✭✭✭✭✭
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    Looks like it was graded by US Bullion

  • Dug13
    Dug13 Posts: 340 ✭✭✭✭
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    USCG ???

    Wall of HONOR transaction list:WonderCoin, CoinFlip, Masscrew, Travintiques, lordmarcovan, Jinx86, Gerard, ElKevvo, PROMETHIUSS88.

  • MetroD
    MetroD Posts: 2,568 ✭✭✭✭✭
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    @Dug13 said:
    USCG ???

    U.S. Coin Grading
    Reference: https://coinauctionshelp.com/USCG_TPGS.html
    Recent Forum Thread: https://forums.collectors.com/discussion/1075069/anyone-heard-of-this-grading-company
    Defunct Website: http://uscoingrading.com

  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    Is that gouge near the obverse rim considered to be a chop mark? The chop mark on the reverse looks like it can be easily duplicated using a flat bladed screwdriver as a punch to create that cross. Hard pass.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • lermish
    lermish Posts: 4,999 ✭✭✭✭✭
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    @PerryHall said:
    Is that gouge near the obverse rim considered to be a chop mark? The chop mark on the reverse looks like it can be easily duplicated using a flat bladed screwdriver as a punch to create that cross. Hard pass.

    The obverse may be a test punch of sorts or could just be damage. I don't have any issues with the chops on the reverse though.

    Opening bid is only $20k though.. a bargain! How can you pass?😉

    chopmarkedtradedollars.com

  • CaptHenway
    CaptHenway Posts: 34,164 ✭✭✭✭✭
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    What was the GC sale price?

    Professional Numismatist, Retired. 55 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Winner of the PNG's 2026 Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
  • lermish
    lermish Posts: 4,999 ✭✭✭✭✭
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    @CaptHenway said:
    What was the GC sale price?

    chopmarkedtradedollars.com

  • CaptHenway
    CaptHenway Posts: 34,164 ✭✭✭✭✭
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    Thank you that price sounds reasonable.

    Professional Numismatist, Retired. 55 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Winner of the PNG's 2026 Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
  • DisneyFan
    DisneyFan Posts: 2,965 ✭✭✭✭✭
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    Description from KDCI:

    We are proud to present 5000+ lots of part 2 of our 3 day Wow! Phenomenal Texan Rare Coin Collection! This is a not to be missed event!

    Join us on Tuesday, 7/16 - Thursday 7/18!

    The Texan Collection, featured in the PM portion of this auction, was entirely put together with
    East Texas Oil Money! East Texas oil dates back to the 1930’s, a time that people referred to as
    "the gusher age" or the "Texas oil boom".

  • lermish
    lermish Posts: 4,999 ✭✭✭✭✭
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    This just popped up and sold immediately (I never saw the live listing).

    So, do we think they never cracked it out before putting it in the auction and photoshopped the pictures? Or they are sending the coin raw?

    https://www.ebay.com/itm/276509671447?

    I don't know is being shady but someone involved with this whole deal (or multiple someones) are being extremely shady IMO.

    chopmarkedtradedollars.com

  • TomB
    TomB Posts: 23,189 ✭✭✭✭✭
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    My guess, based simply upon the first post and the latest from @lermish at 10:50PM, is that the auctioneer (KDC) purchased the coin from GC then listed it as an MS63+ graded by USCG. However, they never cracked it out of the holder and only would have done so if they had someone bid their opening $20k that had a stipulation of "This Lot Must Be Paid Monday". Since they had no opening bid, then they either wholesaled it out to HNC or they are HNC, as well. Then the coin was listed under the HNC name on ebay and sold in the PCGS holder, which it was in the entire time.

    Simple. Easy-peasy.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • lermish
    lermish Posts: 4,999 ✭✭✭✭✭
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    That makes sense @TomB , but it's so gross. I guess I'm naive.

    chopmarkedtradedollars.com

  • sellitstore
    sellitstore Posts: 3,086 ✭✭✭✭✭
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    @lermish said:
    That makes sense @TomB , but it's so gross. I guess I'm naive.

    You will learn with time and experience.

    There's a much easier way to deal with sellers like this. Ignore them instead of trying to figure out their scams.

    If a coin keeps showing up at auction, it's not really for sale. Walk away.

    Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.

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