If you were a dealer, unknowingly sold a counterfeit coin and upon learning of it, made good on it..
coinguy1
Posts: 13,484 ✭✭✭
I've seen more than one thread here about dealers who have unknowingly sold counterfeit coins and then made good on them once they were made aware of it. The general attitude has been - they were good, honest guys, etc.
I agree with that sentiment, but out of curiosity, ask you this:
If you unknowingly sold a counterfeit coin and immediately made good on it upon learning about it, would you prefer that people know what transpired, or would you rather no one know what happened.?
In other words, does the (positive) fact that you were a good guy override the (negative) fact that you didn't know your coin was a fake?
In the case of a dealer, how would this affect your perception of him?
Would you feel differently if the coin were certified by PCGS?
Thanks.
I agree with that sentiment, but out of curiosity, ask you this:
If you unknowingly sold a counterfeit coin and immediately made good on it upon learning about it, would you prefer that people know what transpired, or would you rather no one know what happened.?
In other words, does the (positive) fact that you were a good guy override the (negative) fact that you didn't know your coin was a fake?
In the case of a dealer, how would this affect your perception of him?
Would you feel differently if the coin were certified by PCGS?
Thanks.
0
Comments
myCCset
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
It wouldn't really affect my perception of a dealer in that situation, unless it was something ridiculous like a lead counterfeit or an altered date on a 1856 Flyer, or other example where I would expect any dealer to have spotted it. I expect any dealer to guarantee authenticity forever and would expect them to make good if the situation arises. I would hold a specialist to a higher standard, though, if the coin was in the seller's specialty.
In the case of a PCGS coin, I would imagine only a very high-quality fake would be at issue, so if the dealer didn't catch it I wouldn't feel any differently.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
I made good on it, and I did not want to advertise the situation because I was embarrassed that I did not catch it.
Still I was in good company. The coin got past a MAJOR auction house; it got past a very well-known dealer; and it got past me. After I took it back I could see what was wrong with it after I looked at it at certain angles with a 10X. Now I have a scope. The dealer from whom I bought the piece could not see the problem until I pointed it out. He returned it to the original auction house, which made good on it.
But I'd certainly give it a try.
Mistakes and extraordinarily deceptive counterfeits happen.
Honest people back the transactions up.
Bottom line, deal with honest, reputable dealers and you will have no problems.
BTW, there is no finality to any sale that involves counterfeit coins. They are always returnable.
Just as soon as someone becomes perfect, then they can have the advantage.
No time in the near future, IMHO.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
Excellent questions.
I tend to respect people who admit to making mistakes.
However, part of this may go alittle beyond the norm. Certain coins like the micro o Morgans were really not considered mainstream coins until recently (if at all...) and these coins were in Breen, the Encyclopedia of Morgan & Peace Dollars by Van Allen & Mallis among other well respected numismatic works. These coins are different than an 1893-s Morgan or a 1916-D Merc and the ability to detect an authentic example of something that now PCGS seems to imply was not issued and was a contemporary counterfeit verse detecting a coin that was clearly issued, but is counterfeit, is just different.
Experience the World through Numismatics...it's more than you can imagine.
Excellent questions.
I tend to respect people who admit to making mistakes.
However, part of this may go alittle beyond the norm. Certain coins like the micro o Morgans were really not considered mainstream coins until recently (if at all...) and these coins were in Breen, the Encyclopedia of Morgan & Peace Dollars by Van Allen & Mallis among other well respected numismatic works. These coins are different than an 1893-s Morgan or a 1916-D Merc and the ability to detect an authentic example of something that now PCGS seems to imply was not issued and was a contemporary counterfeit verse detecting a coin that was clearly issued, but is counterfeit, is just different.
Experience the World through Numismatics...it's more than you can imagine.
In my area, there are only about half a dozen guys you can call coin dealers by any stretch of the definition. If I heard one of those guys did what you describe, it would be good PR for them, since at present I don't necessarily trust them even that much. These guys aren't experts, and beyond the basics I don't expect them to be. It would be nice, but about the best I can hope is that they'll be honest. This coin almost got past him, but I already figured plenty of things do. I shop accordingly, when I shop at all.
On the other hand, if I heard the same story about somebody widely reputed to be a specialist or expert -- somebody I think of as a numismatist, a source toward whom to look from halfway across the nation for really good coins -- it might shake my confidence a little as I'd wonder what else is getting by the guy. I don't want to wind up with the one he doesn't catch.
Good question, as usual.
MD
I don't deal coins, but if I did I wouldn't be ashamed if I made a mistake and it was was made known.
You just do what's right and refund the sale price and move on.
By the way I have a collection of counterfeits. I really like the contemporary Liberty Seated ones.
Ray
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)