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 Replies: 15 / Views: 358 |
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Pillar of the Community
 United States
6833 Posts |
https://www.ebayinc.com/stories/new...tible-coins/I had not heard about this program until last night from a podcast. Mention was made of announcing it at the ANA World's Fair of Money. The gist is that slabbed or raw coins over $500 will be sent through PCGS for examination as part of the purchase process. It was not immediately clear to me if sellers are forced to offer a money back return policy as part of the program, or if ebay covers the cost of fakes. It seems like a step in the right direction.
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Pillar of the Community
 United States
6815 Posts |
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Bedrock of the Community
Canada
21826 Posts |
Wonder how long it will take to have a coin authenticated?
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Pillar of the Community
United States
6815 Posts |
That's one thought that comes to mind..........
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Bedrock of the Community
United States
19463 Posts |
Yes, saw this a couple days ago in a communication from ebay. Will be fun to see where this goes. |
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Pillar of the Community
United States
5710 Posts |
It does seem like a good move. I wonder what percent of their sales of $500+ coins will be canceled because they are determined to be fake? If they are also verifying the accuracy of the listing, it seems that may protect against INAD returns.
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Pillar of the Community
United States
2064 Posts |
Thank you for the article link, Brandmeister.
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Bedrock of the Community
United Kingdom
18403 Posts |
I imagine the idiots posting road-rashed Lincoln Memorial cents as 'unique errors' will have to reduce their prices to $499.99...
Edited by NumisRob
Yesterday 11:54 am
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Pillar of the Community
United States
5877 Posts |
Yep! Those $100,000 rare coin will now reduced with free shipping.
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Pillar of the Community
United States
5249 Posts |
ebay claims "no additional costs", but I bet it will be made up for by (slightly) increasing fees.
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Pillar of the Community
United States
3499 Posts |
Quote:
ebay claims "no additional costs" I wonder who will be paying for the shipping and insurance to PCGS, the PCGS authentication fees and the shipping and insurance back to the seller. |
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Pillar of the Community
United States
7250 Posts |
Can't say I've ever bought a raw coin over $500 off ebay. Edited by Greasy Fingers
Yesterday 11:03 pm
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Forum Dad
United States
24219 Posts |
Won't work unless they hold the seller's money until PCGS authenticates it. If not, you'll still have fakes galore on there. Of course, most ot the fakes aren't over $500 because they know they're fakes.
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Bedrock of the Community
United States
27045 Posts |
A better approach would be to authenticate / verify sellers. Funds from sales by non-authenticated / unverified sellers would be held in escrow until 1 week after delivery. Plus, all sales would be subject to returns for refund.
Inordinately fascinated by bits of metal with strange markings and figures
Edited by HondoB
Today 1H 31M ago
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Pillar of the Community
 United States
6833 Posts |
I thought that newer sellers already have their funds withheld for much longer than sellers with a good track record established. I take it as a positive that ebay is at least trying to address the problems around fakes and false listings. |
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Pillar of the Community
United States
6833 Posts |
Quote: Can't say I've ever bought a raw coin over $500 off ebay. Apparently they will also be checking slabs. Although you'd think that CAC would have jumped all over that. They could have introduced a new bean color for "this slab is real but the coin overgraded"! |
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Replies: 15 / Views: 358 |
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Posted Yesterday 08:38 am
