Heritage now using stock photos?!!!

DennisH · February 4, 2012 2:12PM

I was just browsing the weekly Sunday internet Morgan lots and I encountered this statement several times:

The image displayed is a stock photo of an identical coin. The coin you will receive will be the exact same date, grade, mint mark, grading service and quality. Only the serial number will be different.

Sayonara Heritage. If your objective was to turn me away from bidding, it worked.

BryceM · February 4, 2012 2:20PM

Somebody brought this up a while ago. IIRC, they're using some stock photos for a few coins that trade at essentially bullion level. I dunno. There's probably a certain point where the expense involved in photographing and cataloging the coin exceeds whatever they think they can make on it. If it was me, I'd just stick to selling the stuff worthy of an actual photo.

DennisH · February 4, 2012 2:23PM

BryceM: The coins I was looking at were 1885-S in two different Mint State grades, which is far from bullion levels.

stealer · February 4, 2012 2:34PM

Can you give us links to the auctions?

DennisH · February 4, 2012 2:36PM

<< Can you give us links to the auctions? >>

Here's the first one. Click on "next lot" at the top left of the page for the second coin. Lot #28379 is a third one. In fact, it looks like many of the "McClaren Collection" coins have this disclaimer.

It's a POOR way for Heritage to do business, particularly since no returns are allowed.

ajman · February 4, 2012 2:46PM

<<It's a POOR way for Heritage to do business, particularly since no returns are allowed. >>

bestclser1 · February 4, 2012 2:54PM

On their real auctions,Heritage Pictures are improving tremendously,they are moving in the right direction finally!JMHO

rec78 · February 4, 2012 5:04PM

Thanks for the heads up. I would not have noticed until after I made a purchase. Heritage should know that coins are bought by one's individual taste no matter what the grade. I have bought some MS61 coins (Morgans) that appear to be MS63 or even MS64-while others have some big bad scratches or other ugliness. Coins at bullion value is one thing-collector coins are another--Two different areas. Stock photos for collector coins (non-bullion), is NOT a good idea. They are just getting lazy-anything to cut corners and make more money-just like any other business these days it seems.

But are cutting corners like this making them more or less money? Sure, there is less work for the photographer, however if they miss a VAM or variety or something that bidders may bid up higher(perhaps an upgrade,even),are they making or losing more money? Some cost cutting measures are also profit-cutting measures.

The only other explanation is that the seller may be in a big rush to sell and they did not have time to take all the pictures in the timed allowed.

Bob

Tiny · February 4, 2012 7:34PM

THAT SUCKS !!!

I just checked the Eleven Morgan & Peace auctions I am bidding on and SEVEN out of ELEVN
have that statement in the description. Granted they are all worth under 100 bucks but has
Heritage turned into bullion store like APMEX? Is there a way to cancel bids at Heritage or maybe
just not pay for them? It had been a long time since I have placed any bids with them and I just
figured I would give them another shot and now this CRAP comes into play. Yea Yea, I should pay
more attention too the words but 1 picture worth 1000 words.

I am with you on this one Dennis!

golfer72 · February 4, 2012 8:56PM

Yeah thats weak! I can see using stock photos on MS-69 and 70 bullion "coins" but not on Morgans. We all know the "grade" on a Morgan is very subjective and all coins are different.

notwilight · February 4, 2012 9:31PM

Taking photos, processing them, and uploading/linking them into an auction is very time consuming=expensive. Even I, who work for free (just ask ebay buyers), don't like to do it for one inexpensive coin. Now I use stock photos for MS70 silver eagles where you don't have to wonder if there is a ding on the check or look for a vam. Frankly, the right answer is probably that heritage isn't the right venue to sell $100 coins.

--Jerry

Tiny · February 5, 2012 2:14AM

Taking photos, processing them, and uploading/linking them into an auction is very time consuming=expensive

Sure it is expensive to do all those things but with some or maybe the highest buyer fees in the business I would
think they could atleast Snap a Polaroid or Have A Kodak Moment with the actual coin that is up for auction so the
bidder can see it. Everybody on this forum talks about how auctions on eBay has some of the worst pics around so
when you'are talking about a supposedly premier aucton site I for one would think better than "Stock Photos".

mingot · February 5, 2012 2:26AM

Thanks for making this thread, dennis.

I never would have expected heritage to do this and generally don't read the descriptions because they tend to be generic for coins that are not high dollar. Glad I know that I can't do that anymore.

BarberFanatic · February 5, 2012 2:27AM

Heritage seems to be doing quite a few things lately to upset its customer base. Maybe they're taking service lessons from the Federal Government!

GRANDAM · February 5, 2012 2:43AM

They are using stock photos on most MS70 Modern Commemoratives and some of the stock photos are really bad photos.

Some show spots. I purchased several coins before noticing this. When I got the coins they were different serial numbers but all the coins were OK but some of the stock photos I would not use if I was Heritage.

I agree,,,, photos need to be of the EXACT coin being sold. I know I bid less now knowing this.

GrandAm

BAJJERFAN · February 5, 2012 2:47AM

<< Thanks for the heads up. I would not have noticed until after I made a purchase. Heritage should know that coins are bought by one's individual taste no matter what the grade. I have bought some MS61 coins (Morgans) that appear to be MS63 or even MS64-while others have some big bad scratches or other ugliness. Coins at bullion value is one thing-collector coins are another--Two different areas. Stock photos for collector coins (non-bullion), is NOT a good idea. They are just getting lazy-anything to cut corners and make more money-just like any other business these days it seems.

But are cutting corners like this making them more or less money? Sure, there is less work for the photographer, however if they miss a VAM or variety or something that bidders may bid up higher(perhaps an upgrade,even),are they making or losing more money? Some cost cutting measures are also profit-cutting measures.

The only other explanation is that the seller may be in a big rush to sell and they did not have time to take all the pictures in the timed allowed.

Bob >>

Seems like they ought to have a return privilege under those circumstances.

fc · February 5, 2012 3:07AM

<< Taking photos, processing them, and uploading/linking them into an auction is very time consuming=expensive. Even I, who work for free (just ask ebay buyers), don't like to do it for one inexpensive coin. Now I use stock photos for MS70 silver eagles where you don't have to wonder if there is a ding on the check or look for a vam. Frankly, the right answer is probably that heritage isn't the right venue to sell $100 coins.

--Jerry >>

Would not a company taking that many pics have a programmer who could automate a lot of the repititious stuff?

keyman64 · February 5, 2012 3:09AM

YIKES!

BaronVonBaugh · February 5, 2012 7:55AM

<< Heritage seems to be doing quite a few things lately to upset its customer base. Maybe they're taking service lessons from the Federal Government!

>>

Maybe ebay bought them and nobody mentioned it. You know how ebay likes to make questionable improvements. Heritage takes paypal now too.

BryceM · February 5, 2012 1:12PM

<< Heritage seems to be doing quite a few things lately to upset its customer base. Maybe they're taking service lessons from the Federal Government!

>>

Yep. They're 0 for 2 now as far as I'm concerned. I'd say returns MUST be accepted if no photo is provided. My own personal sense of the world is that eBay is a better venue for coins in the $1-$400 range. Heritage is probably the best game in town for the consignor to receive top dollar bids on higher-end stuff over $5k, as long as its associated with a decently large show. In between I'm not sure. I hope they don't start the stock photo stuff for common-date Saints. If I want that I can find it at any number of Internet sites.

Tiny · February 6, 2012 1:12AM

Well I am getting this post back up to the top so that people will see it and
becasue I won three Peace Dollars last night that had those "Stock Photos".
I didn't read the description and now I have another 3 or 4 auctions closing
on Tuesday and there are "Stock Photos" on them also. Dang It I hate that and
when I get them I can only hope they're nice as the "Stock Photo" coins.

Lakesammman · February 6, 2012 1:19AM

Interesting - thanks for pointing it out.

swhuck · February 6, 2012 3:44AM

Thank you to everybody who posted in this thread for bringing this to our attention. While we do use stock photos for some modern coins and bullion coins that appear essentially identical to each other, we completely agree that the coins mentioned in this thread should never have been treated that way.

We are making the appropriate changes to the descriptions now, reimaging all coins, and we will make sure that this is done only for moderns/bullion in the future.

Please contact me directly at 800-872-6467 x1355, or stewarth@ha.com if you have any questions.

GRANDAM · February 6, 2012 3:56AM

That is great news but I don't feel a PCGS MS70 Modern Commemorative should be considered as a Bullion Coin with stock photos. The premium paid for a MS70 should surely take it out of the "BULLION" catagory?

What will be Heritage's position be on these coins?

I saw several coins with stock photos and spots which I was afraid to bid on.

PeaceBD · February 6, 2012 5:01AM

<< That is great news but I don't feel a PCGS MS70 Modern Commemorative should be considered as a Bullion Coin with stock photos. The premium paid for a MS70 should surely take it out of the "BULLION" catagory?

What will be Heritage's position be on these coins?

I saw several coins with stock photos and spots which I was afraid to bid on.

>>

+1. I stopped bidding on the PCGS MS70 Modern Commemorative at Heritage when they started using stock photos. heritage was my main source to buy these from.

Beernuts · February 6, 2012 5:30AM

<< 
+1. I stopped bidding on the PCGS MS70 Modern Commemorative at Heritage when they started using stock photos. heritage was my main source to buy these from.

>>

I'm about ready to stop after receiving several $500+ coins with toning, spots, etc... Of course the stock photos were PERFECT and the descriptions stated the coins would be identical. Not even close on a few of them.

PeaceBD · February 6, 2012 11:04AM

<< 

<< 
+1. I stopped bidding on the PCGS MS70 Modern Commemorative at Heritage when they started using stock photos. heritage was my main source to buy these from.

>>

I'm about ready to stop after receiving several $500+ coins with toning, spots, etc... Of course the stock photos were PERFECT and the descriptions stated the coins would be identical. Not even close on a few of them.

>>

That is just not right for a coin you bought sight unseen. I would try and get in touch with some one at Heritage. Last option would be to send it in for a grade review.
If they want to use stock photos, those coins should come with a certain no questions asked return policy.

DennisH · February 6, 2012 3:21PM

Everyone:

Pick up the phone and call Stewart (swhuck) as he offered in his post above. I did, and he was most gracious and understanding -- and in agreement -- about our concern. Seriously... call him.

Heritage now using stock photos?!!!

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