Coin currently up for auction
gtstang
Posts: 1,783 ✭✭✭✭✭
There's a coin currently running at auction that imo is a problem coin in a pcgs cac approved holder that will sell for a very very high price.
I of course am not going to post the auction now. I only noticed it today and it ends pretty soon.
It has a low pcgs price guide value but if the buyer realizes the problem, who should be responsible for the coin? I know pcgs only does price guide or market based on grade but what about cac?
Are they only responsible for market based on grade or a higher responsibility based on their approval of the coin? Will the auction company buy it back if the buyer makes that request or is it buyer beware?
This coin does have a history btw.
0
Comments
I'd think it is all dependent on what the "problem" is. I'd guess if truly a recognized problem and a rather inexpensive resolution would solve things, one or more of the parties would be willing to resolve. That said, life is too busy for me to knowingly chase a coin with some sort of problem to it that I would have to chase TPG's to rectify for me. Unless it was uber rare or stupid cheap for what it should price at, then I might have a different take on it.
notify the auction house
Let the auction company know.
If you think a mark constitutes as "damaged" or think it's cleaned, then the company will probably tell you you're wrong. If the coin is altered and you can prove it, different story. Opinions don't matter here, you must be right beyond doubt.
I only noticed the coin today and it ends soon.
It's on gc. If @ianrussell would like to know more about it, please respond.
Would you mind sending me the link. I've worked with GC on coins like this before and had them successfully removed and corrected.
go to the contact page on the gc site
If you really care to draw attention to a potential issue that can be solved, why don't you email/call Ian or Great Collections rather than make some cryptic, public, and potentially embarrassing post?
Ian may or may not care to respond but he doesn't run his business via the PCGS message boards.
chopmarkedtradedollars.com
@FlyingAl
Pm sent
"Problem" is a subjective term. For the sake of discussion, where would you draw the line between a problem within tolerance and a clear mistake that should be fixed? There is much opinion to this question but I am curious to everyone's thoughts. I've seen problem coins in CAC holders, so to assume every CAC coin is perfect is an an unreasonable expectation.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
Why do you say the coin will sell for a very high price, but it has a low pcgs price guide value?
Is the “problem” not market acceptable, or at least noticeable to the general bidder? Not that things don’t slip through, but PCGS, CAC, and the GC team have all seen the coin in hand.
The odds that both PCGS and CAC missed a "problem" are very low. Whatever the "problem" is must be market acceptable.
All comments reflect the opinion of the author, even when irrefutably accurate.
The coin sold for 60x price guide.
My opinion is the coin is a problem coin. The powers that be don't have to agree as it is pcgs and cac.
The origins from what I know of this coin is it was originally in a Legend auction in a different pcgs cert number holder with cac. The coin was posted about here and the problem was noticed and agreed upon by others in the hi resolution pics.
That original cert number is no longer active but now has a new cert number and cac.
I don't know why it would of been changed but definitely was.
Anyway, there is a new buyer and hopefully they are happy with it.
This has to be some sort of toned coin commanding the 60x price premium correct? And you think it’s artificially toned?
Can’t say I’ve ever known of a normal example on a coin bringing 60x guide. Pcgs normally doesn’t get it that wrong.
PCGS and CAC would both have to have gotten it wrong. I believe this coin, whatever it is, does not actually have a problem.
All comments reflect the opinion of the author, even when irrefutably accurate.
I believe we have entered Quantum Numismatics and this is an example of Schrödinger's Coin.
In honor of the memory of Cpl. Michael E. Thompson
Lol. Exactly. I'm not sure why we can't see the coin now that the auction has ended.
All comments reflect the opinion of the author, even when irrefutably accurate.
Because this thread is guesswork anyway, I will guess without looking: