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Are attributions important?
RichieURich
Posts: 8,627 ✭✭✭✭✭
An 1805 Small 5 half cent, an 1864 Small Motto 2c piece, an 1873/2 nickel, an 1883/2 Shield nickel, a 1936-D 3 1/2 leg nickel, an 1848 Large Date half dime, an 1820 STATESOFAMERICA dime, an 1839-O rev. of 38-O dime, an 1825/2 quarter, an 1828 25/50 quarter, an 1842-O Small Date quarter, an 1866 business strike quarter, an 1888 business strike quarter, an 1807 Small Stars half, an 1812/1 Large 8 half, an 1830 Large Letters half, an 1842 Small Date half, and a 1964 Accented Hair half. Could this be someone's want list, or my shopping list for my next show? No. This is a partial list of coins that I have seen misattributed at some time during 2007. That is, all of these coins were advertised as something they weren't, and if you had bought them based on that representation, you lost money. For example, if you purchased the 1812/1 Large 8 half in Fine for over $2,000, but then found out it was really an 1812/1 Small 8 half worth $60, you would have been out over $1,900!
Accordingly, the answer to the question, "Are attributions important?" is an unequivocal "Yes!"
(Note: I wrote the story above (which is true) for my website, then decided that the Forum audience might appreciate it.)
Accordingly, the answer to the question, "Are attributions important?" is an unequivocal "Yes!"
(Note: I wrote the story above (which is true) for my website, then decided that the Forum audience might appreciate it.)
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When dealing in rare, special, high value coins... you are 110% correct... without attribution (or being one of the world's leading experts yourself), purchasing a coin without attribution is very dangerous... Cheers, RickO
To not get the proper attribution or die variety, is due to wishful thinking, laziness or the lack of knowledge.
<< <i>Rich...
When dealing in rare, special, high value coins... you are 110% correct... without attribution (or being one of the world's leading experts yourself), purchasing a coin without attribution is very dangerous... Cheers, RickO >>
Actually, purchasing a coin without attribution is fine since without any attribution you wouldn't pay a premium for a normal variety. The problem occurs when that common variety IS attributed, but incorrectly.
<< <i>The problem occurs when that common variety IS attributed, but incorrectly. >>
Agree completely from a collectors point of view. From a dealers point of view selling unattributed coins seems almost foolish to me as they inevitably are going to be losing money or rare coins sooner or later.
<< <i>
<< <i>The problem occurs when that common variety IS attributed, but incorrectly. >>
Agree completely from a collectors point of view. From a dealers point of view selling unattributed coins seems almost foolish to me as they inevitably are going to be losing money or rare coins sooner or later. >>
How is a dealer going to lose money selling them unattributed? He didn't pay a premium when he bought it.
For example, I know of someone who sold an unattributed 1806 O-129 bust half. Did he receive all the premium it was worth? No, but he didn't lose any money on it either.
<< <i>How is a dealer going to lose money selling them unattributed? He didn't pay a premium when he bought it. >>
Ok fair enough, he won't lose money but he could lose potential profit.