Have you ever returned a coin you won at auction? Under what circumstances did you (or would you)?
P0CKETCHANGE
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For the first time in my collecting career, I exercised a return privilege to return a coin I won in an online auction. It made me uncomfortable to do so as I know it imposes a burden on both the auction house and the consignor, and that there is inherent risk in buying coins in an online auction. However, I was deeply unsatisfied with the item once it arrived in-hand.
I recognize the limitations of photography, even from the best talent in numismatics, so I keep my expectations in check. I do my best to interpret images and have gotten pretty good at it. My confidence improves when there are multiple photo sets—in this case, slab shots, auction house close-ups, and a TrueView were all available.
When I received the coin in-hand, I found a scratch in the left obverse field which was not evident in any of the sets of photos. Disappointment #1. Then when inspecting under different lighting conditions, I noticed areas of hazy greenish film on the reverse that (in my prior experience) may be indicative of PVC, and which was impossible to see in the photos. Disappointment #2.
The value of the coin contributed to my decision. While not the most expensive in my collection, it was a four figure coin in the top 20%, and a semi-key date coin. I felt like I'd be taking an immediate loss on the coin by keeping it. If it were in the bottom of my collection value-wise, I may have just dealt with it. The auction house offers a return privilege as standard policy.
Question to folks here—have you ever returned a coin you won at auction? What were the circumstances and what weighed on your decision? If you haven't ever done so, under what conditions would you?
Nothing is as expensive as free money.
Comments
Returned a coin from Great Collections auction last month......not as happy in hand as with pictures...returned it with no 2nd thought...believe they allow 1 return a month....
I have never returned an auction coin, I guess I'm old school and I had it drilled into my head that auctions are not approval services . I did receive a coin in a GC auction that had a spot in the field that did not appear in the photos, but it was a $ 600 coin, and I re-sold it at a loss. I' d likely return a higher priced coin
Commems and Early Type
Aside from the time I received a different coin than the one I bid in, I have never returned a coin won in an auction. I won't bid on anything that costs so much I might be tempted to consider a return if I was unhappy with it.
SNAD easy.
have you ever kept a coin that had a problem you missed? i have. it was in the photo but not nearly as bad in hand. it was nasty in hand, but had i seen the issue in the photo i wouldn't have bid in the first place. plus i couldn't snad with a clear conscience
Smad 👍
I never have.
I bought a branch mint $5 in an OGH on GC and confused the holder for a CAC sticker. I resold the coin six months later on the BST and lost a couple of hundred dollars.
I won two expensive coins on HA and SB when I accidentally bid on the wrong lot. I could have canceled my winning bid but decided not to because I screwed up. Karma was on my side. I resold them (one on a different auction site and the other privately) and picked up 20%. . I was on the receiving end when the winning bidder changed his mind and I took a beating a few months later when it was relisted.
Received the wrong coin from HA. It was much more valuable than the coin I won, but I was miffed at the inconvenience. The lot number was correct to the coin, very careless. I returned it to them in person and they retrieved the coin I won. What was memorable is that the bozo whom I dealt with acted suspicious, as though I had somehow switched lots or something. Very odd experience, but still an HA fan for many years.
Only once. I returned a low grade Chain Cent to Heritage about 15 years ago. The images did not represent the coin well at all. At the time, their images were very good. I was shocked when I achieved the coin. I sent them an email and said I was shipping the item back, 'No Return' policy or not. They promptly refunded the full purchase price. All good.
Dave
I’ve returned coins before, but never one that was won in an auction setting.
The only way I would do it is if it had some type of problem or issue that wasn’t visible in the auction photographs.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
No. It would have to be counterfeit for me to do it. It's the risk of sight unseen bidding.
All comments reflect the opinion of the author, even when irrefutably accurate.
One time only....(in Canada)
I took part in an online auction back east about 12 years ago, only for the one reason to buy this set of 5 scarce in high grades, silver Newfoundland coins. They were not graded. the looked super great on the photos.. both sides
The images in the online color catalogue suggested, and in the description stated each coin to be MS64+.
Sounded like absolute dream coins.. like once in a lifetime.
there was speedy bidding online up to about 6K. then it came down to the rest of us.
I won the set for 8,5K (+15% juice) and paid for it with a CC. Had them shipped Fedex over night to me on the WestCoast and wowwwww, what a speedy disappointment. Something did not look right. The coins had a light pinkish sheen. I called the guy and told him that I will Fedex them to a Canadian TPG for overnight grading and immediate return by FedEx. On the phone I was told by the TPG the coins were all whizzed!! , probably with a Dremel and some solution, but the whizzing was overcome by smart photography. The coins were nearly worthless as they are. The auctioneer at first refused to accept these back.
I then suggested that I will see him in court. He then requested that at least I should pay his commission.
NO was my answer. He learned his lesson and refunded including all expenses avoiding the legal part.
Afterwards I did a little checking in on the crook. Turns out the consignor was his Brother in law and that similar had happen before but not in these price ranges.
How much worse can it get?????
Can it happen today?????
I think it can when inexperienced people buy.
H
Never a specific coin but I bought an early Lincoln cent collection where the seller listed as having a 14-D.
When it arrived in the 14-D slot was a 14 Plain.
I contacted the seller and rather than negotiate a price they just refunded me after I sent it back.
I lost out on the shipping cost, but it was a cheap gamble.
Only once. An eBay auction where the pics were doctored IMO. It was an early large cent that was a nice light brown in the pics. But a terrible orange sight seen...
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Yes, fingerprint not noted in GC photo. Easy return.
I’ve never returned an auction coin, but the “what if” has crossed my mind. I think if I experienced a situation like the OP’s, I likely would.
“The thrill of the hunt never gets old”
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If a coin is misrepresented intentionally or otherwise, of course yes.
One time- sorta kinda but in the end not
I bought an early NGC quarter from the Newman collection and the photos showed the coin with the nice Newman label etc etc
When the coin arrived it was in a plain NGC holder with no provenance. So the coin had been reholdered but the old photos in the Newman holder were used on the auction site (lazy? deceptive? mistake?)
I’m really into provenance and that was not cool. I returned it and said either refund me or reholder it. Three weeks later I received the coin back in its proper Newman labeled NGC holder.
Returned one ancient Roman coin to CNG about three years ago as it was not anything like its catalog or online picture, they were very responsive and immediately accepted it and returned my payment.
Many years ago I was putting together a set of 1890 P coins, cent through dollar, to be a graduation gift for my son born in 1990. Heritage had a half dollar that fit the bill. I bid live on-line. Through some glitch in internet, rendering on my screen, etc., I had "actually" bid on and won the next lot. The next day I called to explain what had happened, but, being an established customer, they had already shipped! So, I did get them to accept the return, but I did have to pay a 'restocking' fee, or some such. It was a nice 1891 half. After talking about things with one of their website folks, it wasn't much later that changes were made that appear to be geared to preventing what happened to me.
Collector of Liberty Seated Half Dimes, including die pairs and die states
Also, but not an auction situation... The Liberty Seated Collectors Club had some silver and gold club medals made some years ago. For the gold ones, the buyer had to submit a 1 TO coin to be restruck. I sent in a Maple Leaf. Those club gold medals would have the member's name and member number on the edge. When mine arrived, it was for a different member. Fears of total scrambling of who got what were eased when we found that that other member received mine, and there apparently were no other mix-ups. I met that other member as a result of this, and look forward to catching up with him regularly at shows.
Collector of Liberty Seated Half Dimes, including die pairs and die states
I'm more interested in knowing how auction houses handle returns with the consignor?
Has anyone here been a consignor on a coin that was returned from gc, heritage, etc.?
The images don't count for anything? Bad images, bad coin, it goes back for refund in my reality.
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Bad images, I don't bid.
The question wasn't what you should do. The question is what I would do. I have never returned a coin from an auction for images and I would never.
All comments reflect the opinion of the author, even when irrefutably accurate.
You’re SOL.
Winning bidder reneged in HA auction. My coin was relisted a few months later and I took a big haircut.