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Teletrade now has PCGS Genuine Coins Intermixed with the Graded Stock...
OneCent
Posts: 3,561 ✭
Should I be surprised and can this potentially be misleading?
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
0
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The only thing I like about Teletrade is its search engine. Your can pretty much include or exclude anything you want.
The grade is clearly marked as 0 (zero)- clear enough.
What would be Teletrade's alternative?
The problem with PCGS Genuine Only Graded slabed coins is even though there's a problem code the auction houses, dealers, and private sellers really aren't mentioning the code.
To some degree I feel reading their descriptions they are making up their own conclusions on why they feel the coin Genuine Only Body Slabed.
IMHO these coins are not something you can bid on without a return option until PCGS states what's wrong on the slab.
<< <i>They've been mixing ANACS Net coins forever so I don't see any issues.
What would be Teletrade's alternative? >>
Instead of using 0, state Not Genuine in the description.
Of course, they can do as they like as it is their business.
Imho, it is not entirely transparent to the customer, especially
someone new to coins.
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
<< <i>The problem with PCGS Genuine Only Graded slabed coins is even though there's a problem code the auction houses, dealers, and private sellers really aren't mentioning the code. >>
Which is why PCGS needs to spell out the problem on the label. Not every collector is aware of their secret code.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>The problem with PCGS Genuine Only Graded slabed coins is even though there's a problem code the auction houses, dealers, and private sellers really aren't mentioning the code. >>
Which is why PCGS needs to spell out the problem on the label. Not every collector is aware of their secret code. >>
c'mon you guys, did you not take the "anti-paranoia/conspiracy theory" pill today?? it took me less than a minute and a few clicks to link the the secret codes you mentioned.
Open disclosure harms no one, and helps most.
<< <i>Worms....in an open can...
Open disclosure harms no one, and helps most. >>
Do you want to own a coin in your own collection in a holder which says "Scratched" in big letters write in your face?
I don't, and I can't imagine anyone else that does.
And since PCGS is providing a product which they hope to sell, wouldn't they be wise to make one that people want to buy?
And if you are so concerned about the potential misuse of the product, aren't their other products on the market (weapons, explosives, etc.) that you should be more concerned about?
<< <i>
<< <i>They've been mixing ANACS Net coins forever so I don't see any issues.
What would be Teletrade's alternative? >>
Instead of using 0, state Not Genuine in the description.
Of course, they can do as they like as it is their business.
Imho, it is not entirely transparent to the customer, especially
someone new to coins. >>
Zero is going to get people to buy? How stupid do you think people are? Ok, don't answer that, considering some other products, and segments in the hobby. Still, what kind of person pays the full normal price for a coin graded zero? How long would that person keep their money in a hobby tank full of sharks?
<< <i>Worms....in an open can...
Open disclosure harms no one, and helps most. >>
CCU makes a good point. Listing the problem on the label makes it more difficult for dealers to sell problem coins.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Should I be surprised and can this potentially be misleading?
They have been selling NCS and ANACS problem coins for some time. Why would adding PCGS to the mix change things?
<< <i>
<< <i>Worms....in an open can...
Open disclosure harms no one, and helps most. >>
CCU makes a good point. Listing the problem on the label makes it more difficult for dealers to sell problem coins. >>
While I can see CCU's perspective, it is worth noting that not calling out the problem makes it harder for a buyer to understand what the TPG thought was wrong with the coin, and easier for the seller to misrepresent it.