UPDATED with images - Interesting interaction with an eBay seller

astrorat · June 2, 2011 11:49PM

Update: Below are the images of the slab. Looks to be a solid 64 with maybe, but I doubt a 65. Let me know what you think.

Regardless, you can see that the seller's thought that it was a $400 coin was a bit off.

---------------

I was watching an auction for a "rare" slab (no Jeff, not a doily!

) where the seller had naively listed the "Blackbook" value of the common date Morgan at $400 based on the MS-65 slab grade. Since there were no images, I emailed to verify that slab was undamaged. Sure enough, it so it looked like I was going to bid.

I won the auction for under $40, which is fair for a common MS Morgan. I paid immediately and later that evening I received an email obviously intended for PayPal and not me that stated "refund money to buyer." I thought, oh no, the seller really thinks the coin was worth $400 and now is backing out of the auction! I send a couple of emails gently asking about the situation with no response and the PayPal payment remained "unclaimed." A couple of days go by without any correspondence and then I receive a "good news" message from the seller that they will be sending the coin that day.

I wonder what was going through the seller's mind and if he/she did a bit more research and realized the coin's true market value. I'll post when I receive the slab and, hopefully, all is well.

Yeah, I know it's not as exciting as some of the other "evil" eBay buyer and seller threads, but I don't mind the low drama stuff happening to me!

JamesM · June 3, 2011 12:34AM

This sounds like a normal Ebay transaction.

note i did NOT say a normal transaction, but an Ebay transaction.

astrorat · June 3, 2011 12:41AM

<< This sounds like a normal Ebay transaction.

note i did NOT say a normal transaction, but an Ebay transaction. >>

johnny9434 · June 3, 2011 4:19AM

<< 

<< This sounds like a normal Ebay transaction.

note i did NOT say a normal transaction, but an Ebay transaction. >>

>>

lmao, yeah, i heard that big time

Tdec1000 · June 3, 2011 4:49AM

hopefully he sends you the correct coin

LindeDad · June 3, 2011 5:30AM

Am I hearing this as you got a $400.00 coin for $40.00?

astrorat · June 3, 2011 5:44AM

<< Am I hearing this as you got a $400.00 coin for $40.00?

>>

No, that is not what I was trying to convey. In my experience with coins in this particular TPG holder, they are a point or two overgraded. I bet the coin is an MS-63 or MS-64, white 1880-S Morgan dollar. Even if the coin isa 65, it is worth nowhere near $400. I think the seller found "book" value and was thinking they he/she would get somewhere close to it as was disappointed when it sold for much less. Of course, keep in mind it was from a defunct TPG and no images were provided.

How much would anyone bid for such a "pig in a poke?" Well, it's an 80-S Morgan and I am sure it's MS based on my experience with this TPG (since I have never seen a non-MS coin in one of their holders). So, I think it was worth a sight-unseen bid in the $40 neighborhood (and my max bid was a bit higher).

To be a $400 80-S Morgan it needs to be monster in the right holder.

LindeDad · June 3, 2011 5:56AM

OK I see he was going by a grade and price of top tier TPG and it essentially was a raw coin.

astrorat · June 19, 2011 1:10PM

Updated in the OP.

DRUNNER · June 19, 2011 2:24PM

Lane . .

Once I saw it was NOT a Doily, the interest level of the thread diminished. But, a Compugrade holder is a bit of an esoteric piece, and were it not that storing it in the same household as Doilies would sully my holder of choice, I might even be a bit jealous.

Nice pick-up !!!!!

Drunner

astrorat · June 19, 2011 2:57PM

<< Lane . .

Once I saw it was NOT a Doily, the interest level of the thread diminished. But, a Compugrade holder is a bit of an esoteric piece, and were it not that storing it in the same household as Doilies would sully my holder of choice, I might even be a bit jealous.

Nice pick-up !!!!!

Drunner >>

What a Doily snob!

RunnersDad · June 19, 2011 3:13PM

Nice pickup! It almost looks like the coin was "efforting" itself towards being a bit proof like. Is there as much contrast in hand as it shows in the picture?

astrorat · June 19, 2011 11:06PM

Yeah, the image is accurate. But I would just consider it a nice, lusterous 80-S.

UPDATED with images - Interesting interaction with an eBay seller

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