Ultimately, he said he looked at the coin again and it was hard to tell it was the same coin (but it was) and he was a little upset he "missed it". He said coming back through he gave it 62-62+, but possibly a factor down for the adjustment marks, which he said weren't too bad. He said it was weak strike and not wear in his opinion.
I think the marks looked much more subtle on the second time around (me saying this).
The submitter routinely dips coins and he congratulated them. He said these guys often lose big so it's "live by the sword or die by the sword". Also saying the coin must have been "dusky" the first time through.
Use this information as you may. I think ultimately, you can gamble and dip AU coins in hopes they pass as MS with a weak strike. If you know your varieties well, you may be able to make a wiser decision. JA and I agreed we both wouldn't dip this coin, but I guess it is what it is.
I was appreciative of the conversation and the information he could provide.
Fascinating. Would it bean at AU55 if it was resent in that holder?
In a typical scenario where it failed with no feedback, I would have been inclined to just send it back. But in this case the coin had a sticker with "call me" on it when I got it back. From there JA detailed how much consideration they gave the coin and even brought in the VA folks. The subsequent low auction price and then the 61 CAC, which was advertised at $108K after selling for $26K at auction.....was definitely a 1-2 gut punch. Only step is to move forward....
You do have to appreciate the willingness to have the conversation and all of the feedback. You never get a bit of that with the TPGs and it's always a mystery.
Ultimately, he said he looked at the coin again and it was hard to tell it was the same coin (but it was) and he was a little upset he "missed it". He said coming back through he gave it 62-62+, but possibly a factor down for the adjustment marks, which he said weren't too bad. He said it was weak strike and not wear in his opinion.
I think the marks looked much more subtle on the second time around (me saying this).
The submitter routinely dips coins and he congratulated them. He said these guys often lose big so it's "live by the sword or die by the sword". Also saying the coin must have been "dusky" the first time through.
Use this information as you may. I think ultimately, you can gamble and dip AU coins in hopes they pass as MS with a weak strike. If you know your varieties well, you may be able to make a wiser decision. JA and I agreed we both wouldn't dip this coin, but I guess it is what it is.
I was appreciative of the conversation and the information he could provide.
Fascinating. Would it bean at AU55 if it was resent in that holder?
Collector of Original Early Gold with beginnings in Proof Morgan collecting.
I try not to be naive even though I am nothing more than a collector. But I find it a blemish on the hobby when a dealer is rewarded for “routinely”cracking old gold, here 18th century gold in a rattler, in order to dip it.
And his newly stripped creation results in a four grade upgrade, a sticker and a 50-60k payout. My own view is all the industry protections that are intended to give collectors confidence to purchase such coins failed miserably in this case, and in particular failed the OP.
Proofmorgan, thanks for the honesty here.
"Look up, old boy, and see what you get." -William Bonney.
Comments
Fascinating. Would it bean at AU55 if it was resent in that holder?
In a typical scenario where it failed with no feedback, I would have been inclined to just send it back. But in this case the coin had a sticker with "call me" on it when I got it back. From there JA detailed how much consideration they gave the coin and even brought in the VA folks. The subsequent low auction price and then the 61 CAC, which was advertised at $108K after selling for $26K at auction.....was definitely a 1-2 gut punch. Only step is to move forward....
You do have to appreciate the willingness to have the conversation and all of the feedback. You never get a bit of that with the TPGs and it's always a mystery.
I try not to be naive even though I am nothing more than a collector. But I find it a blemish on the hobby when a dealer is rewarded for “routinely”cracking old gold, here 18th century gold in a rattler, in order to dip it.
And his newly stripped creation results in a four grade upgrade, a sticker and a 50-60k payout. My own view is all the industry protections that are intended to give collectors confidence to purchase such coins failed miserably in this case, and in particular failed the OP.
Proofmorgan, thanks for the honesty here.
"Look up, old boy, and see what you get." -William Bonney.