New Ebay Program For Coins Over $500 Sends Them Through PCGS For Authentication?

I was going to mention that, but thought I that would put this topic too far into the weeds...

I think this program just started recently. I clicked on the ebay link, then clicked their eligible coins link near bottom of article. They show 7,888 coins, some already graded. I don't know if employees will add coins over $500 to the program or AI will do it. I assume AI.

I just bought an NGC 8 Reales Concepcion shipwreck coin for $845 two days ago on ebay. I didn't notice until now it has this authenticity guarantee. I'll follow the tracking and see if it goes to PCGS for review. They might just look at the photos and call it good.since it's already graded. I'll let you all know when it arrives. Here is what it looks like in the listing:

ebay coins in the authenticity program now show over 15,550, a mix of graded and raw. The seller of my 8 Reales lives near Atlanta. USPS has the coin but it's still in Atlanta. .

I spoke with my son, who is a Baseball card collector, and he explained to me that trading card authenticity on ebay has been going on for awhile.

As a seller of a card valued at $200 or more, once a purchase is made, the seller prints off a mailing label to the authenticity service, packages the card and sends it off. The authenticity service reviews the card to guarantee that it is authentic and meets the description of the seller (bent, curled edges, mint, near mint, etc.). The authenticity service then puts the card in a slip and seals with a "tamper proof" hologram label. The authenticity service then mails the card to the buyer.

His understanding is that multi card, bulk card listings are not covered, but he wasn't sure.

From his perspective it has made buying and selling cards on ebay a much more secure process.

I can definitely see this being a positive for bullion purchases as you cane be sure that what you are buying is real (gold, silver, etc.).

I guess we will see.

What happens to items that can't be confirmed as authentic?

My 8 Reales shipwreck coin went from the seller in Georgia and arrived at Santa-Ana, CA. That's where PCGS is. I'll let you know how long it takes PCGS to authenticate it and mail it to me. The seller used a bigger package because it has the original salvager COA. I hope PCGS doesn't loose the coin or COA.

This ebay authenticity service should help stop fakes. But maybe it should be a buyer option at checkout to use it or not rather than mandatory.