What should I do? (ACG ethics question)

Aethelred · November 17, 2003 1:15PM

I bought an 1893 Columbian Half Dollar that has really pretty blue toning. I got a great deal on the coin and I am happy with it.

HERE IS THE PROBLEM: I want to sell the coin, but it is slabbed by ACG, who I have no respect for at all. They have graded it MS-64 and in my opinion that is at least two points too high. Do I sell the coin as is, but state that in my opinion it is overgraded and let the buyer decided if it should be cracked, or do I crack it and sell it raw?

itsnotjustme · November 17, 2003 1:16PM

You're ethically clear if you state your truthful opinion that it is 2 points overgraded, as long as you believe the toning is real.

Aethelred · November 17, 2003 1:20PM

There is no doubt that the toning is real. It's the friggin POS plastic I am concerned about!

I guess if there was ever a case of buying the coin and not the slab this was it!

wingedliberty · November 17, 2003 1:21PM

Destroy the evil holder, and sell it raw, or better yet, if the coin is NT, then cross it to a legitimate grading service, and either keep it or sell it. It will realize more with pretty toning if its in a non-demonic holder.

Darkhorse · November 17, 2003 1:22PM

Destroy the slab then burn it.

Russ · November 17, 2003 1:22PM

I will not sell ACG, NTC or PCI gold label in the holder. I always crack them out and sell them raw. That's just my thing, though. I don't really see anything wrong with selling it in the holder with an honest description.

Russ, NCNE

airplanenut · November 17, 2003 1:26PM

Even if you're honest... saying ACG may keep some people away...

paulheep · November 17, 2003 1:33PM

I'm sure ACG grader(s) did nothing to the coin, it's not the coin's fault someone sent it to ACG. You believe the coin is problem free. Crack it out, and give the coin you best educated discription, good scan and honest opinion. Allow a return policy and I bet someone would be happy to own the coin.

Paul

Placid · November 17, 2003 1:35PM

Send it to me for evaluation.

Sell the coin as is, but state that in my opinion it is overgraded and let the buyer decided if it should be cracked.

Baley · November 17, 2003 1:40PM

I got a great deal on the coin and I am happy with it.

I want to sell the coin

Dog97 · November 17, 2003 1:44PM

Tough question! (Not really)
What would K6AZ do?

Aethelred · November 17, 2003 1:44PM

Baley - I don't really collect US coins, I just use them to fund my British coin addiction!

flaminio · November 17, 2003 1:49PM

Bust it out. Either sell it raw, or send it somewhere (anywhere!) else. One less intact ACG slab in the world is a Good Thing.

Deadhorse · November 17, 2003 2:15PM

Crack it out immediatly. Ship it off to PCGS, they say turnaround times are getting almost civilized these days.

You just might be pleasantly surprised by the PCGS grade upon return.

Of course, that's just my opinion, but it's what I'd do. Good luck with it.

Bochiman · November 17, 2003 3:00PM

If you leave it in the ACG container, even if you give an honest and educated, description, I believe you will have fewer knowledgeable collectors/buyers.
If you crack it out and sell it raw, you will have fewer collections buying as well.

If you want to take the time, send it to PCGS, NGC, or even ANACS....but, that is an additional cost and time drain.

You could sell it as is, with your honest description, start at $1 but put what you feel is an honest reserve on it. Or, you could break it out and do that raw.....but, you are in a rough spot on this.

Hve you looked on ebay and seen if any like it have sold raw lately and their price? If so, would you be happy with that price?
Is your ebay seller ID showing similar coins being sold? ie....do you have a rep for good quality coins already (since I haven't sold on ebay, I would want to be selling something like this for my first coin...I would get slaughtered I think).

Whichever you do...good luck!

Ron

Barry · November 17, 2003 9:22PM

Crack it out.

UncleJoe · November 17, 2003 9:33PM

When you bought the coin were you told all the caveats about ACG?

You sell the coin stating the TRUTH. The coin is graded MS-64 by ACG with blue (pretty is in the eye of the beholder) toning.

Even if you don't agree with the grade, it is only an opinion both yours and ACG's.

You can offer a return policy (even though slabbed coins are not usually offered a return policy) if that makes you feel better.

Joe.

291fifth · November 17, 2003 10:24PM

You should accurately describe the coin and give your opinion of the grade. This is what I do in my auctions. In the mail order coin business it has often been said that 60% of the bad merchandise sent out won't be returned. A large number of sellers on eBay operate on this principle. My own standard is that I don't want to send out any bad merchandise so I describe the defects, even if it will cost me money. Low ethical standards have always been a problem in the coin business. You simply have to make the personal decision that your standards will be high regardless of the financial consequences.

newbiecollector · November 17, 2003 10:27PM

How much 'ya want for it?

Conder101 · November 17, 2003 11:04PM

What generation holder is it in? If it's one I need your problem is solved.

XpipedreamR · November 17, 2003 11:31PM

1)sell as is, stating your opinion of the coin

-or-

2)put it in a PCGS holder

If I were buying, I would prefer option 2.

hamiltonjh · November 17, 2003 11:32PM

You may not want to spend more, but why not send it to PCGS for a crossover? Then, you dont risk hurting the coin when you open the case or if you accidentally drop it or whatever.

Then it will be in a respected holder, your conscience is clear, and everyone is more confident in their bidding/buying, concentrating on the coin versus the negatives regarding the current slab.

maybe I dont have a clue, i'm new at this, but, I'd think crossover before risking damaging it by opening it and selling it raw. If I decided not to crossover, I think I'd keep it slabbed even if I didnt like it and be honest with my thoughts when advertising. Of course, I'm not in this situation so I really dont know WHAT I would do, but integrity first. As long as you feel comfortable with your decision, thats what matters.

Good Luck! :-)

mgoodm3 · November 18, 2003 1:27AM

Just tell it like you told us. Sell it raw. Crack it out of the ACG slab and tell people you took it out of the evil plastic and that it was ACG MS64, but overgraded 2 points.

Myriads · November 18, 2003 4:05AM

Several good options are out there, all of which leave you clear in the world of morals, in my humble opinion.

1) Sell it in the evil holder and state your opinion about the coin just as you told us. That way everyone knows you are being honest about the coin, and can take that into account. You don't have the expense of a crossover, or the hassle (and possible damage, small though it may be, of a crackout) Of course the evil holder might chase some bidders away like garlic affects a vampire, lowering your auctions final price realization.

2) Crack it out and sell it Raw with your own opinion clearly listed. This way gets rid of the evil holder, but now you face the 'raw' worries of the buyers. Some might avoid the auction because they don't trust the images and more importantly their own ability to grade it.

3) Cross it over. This costs you a bit in money and time to do, but it leaves you with an item that is clearly going to attract bidders a bit better. With some luck, you might be able to do significantly better in sale price this way. But of course there is the cost of the cross to take out... Of course you collect the good karma of killing the evil coin prison this way too :-)

I would lean toward #1 if I wanted to flip my investment quickly, and #3 if I was confident of my grade and was willing to hold for a short bit before I got my dollars back.

Myriads

seanq · November 18, 2003 4:36AM

There's one problem I see with selling the coin in the current evil holder with an honest description - maybe the next owner won't be as scrupulous when he sells it.

I would definitely crack it out.

Sean Reynolds

1jester · November 18, 2003 5:23AM

"One less intact ACG slab in the world is a Good Thing." --Flaminio

Here, here!!!

Dead King, why don't you just give it away on the boards?? That would solve all your worries.....I'm just trying to be helpful...

Catch22 · November 18, 2003 6:31AM

Unless you are very confident that it will cross at one of the more respected services in at least Mint State without remarks, I wouldn't crack it out. A lot of people assume the worst when bidding on raw, Mint State coins and bid accordingly. Not much difference in an ACG slab, but would still lend a certain amount of credibility that it is at least Mint State...though not with me.

To put it bluntly, I seldom bid over AU values for any Mint State coin offered raw or slabbed by ACG.

If you intend to sell it sight seen, at a show or something, it wouldn't make any difference.

Syracusian · November 18, 2003 5:53PM

Crossgrade or resubmit a Columbian 1893? It'll cost you more than the coin itself traitor

1jester · November 18, 2003 8:20PM

"...traitor

" --Syracusian

Dimitri, you have a way with words. I couldn't have said it better!

What should I do? (ACG ethics question)

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