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 Replies: 30 / Views: 4,668 |
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Pillar of the Community
United States
601 Posts |
This is a horrible story and I empathize with the OP. With that said (and I'm very genuine), it really illustrates an important point. Finding a dealer you're comfortable with and trust is priceless. Forging a relationship of trust with someone that you feel comfortable with is a stress relieving and sensible thing. If a buyer purchases a coin from someone that they know, or have gotten to know, said dealer will (nearly always) "make it right" if a counterfeit coin slips past them. Good coin dealers greatly appreciate return customers and prefer to deal with collectors they like as well. ebay is a huge marketplace- where you can make a buck and save more than a few. But the situation above is scary. I am a coin dealer myself, but I have perspective on both sides. I'd really rather pay $50 more for the coin, from a dealer I respect and trust, than risk the sort of thing that happened. There's greater security in dealing with someone you're familiar with. And I'm not suggesting you don't do business through eBay- some of the most impressive people I know in coins, I met through ebay. There are a ton of really decent folks selling. When you find a seller whose coins you like and you feel comfortable with, make a point of inquiring with your want list. In most cases, the seller will be eager to do business and help you acquire what you're seeking. One of the neatest things about the internet is that you find highly motivated sellers who are pleased to do business, not the sluggish, condescending dealer you might find in a Coin Shop! Again, scary story. I am confident in my ability to spot most raw counterfeit coins....but I don't think I'd have a chance in the world recognizing a fake slab (even though most of my inventory is slabbed). A Gem of a coin dealer is like a coin of the same grade- maybe tough to acquire, and they're wherever you find them, but there's no substitute! Best wishes all, enjoy the hunt! Edited due to TTS (Ten Thumb Syndrome) Edited by liveandievarieties
04/08/2011 1:04 pm
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Bedrock of the Community
 United States
10982 Posts |
The buyer will likely get his money back. I'll see if I can find the follow-up and let you know what happens.
Most of PCGS "experts" on CU Forums said the pics of the slab don't reveal any clues that the slab is fake.
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Pillar of the Community
United States
648 Posts |
Would some one please tell me what a "split coin" is ?
thank you (looked in glossary )
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Valued Member
United States
312 Posts |
Token - two coins are literally split in half and combined into one. This would be easily identifiable with a non-slabbed coin, as you'd see a line around the rim. They took the front of a 1916 dime and combined it with the reverse of a dime with a D mint mark.
Edited by mshev
04/08/2011 4:57 pm
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Pillar of the Community
United States
648 Posts |
Thank you, Man that guy must have strong fingers,lol.very help full info.
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Pillar of the Community
United States
721 Posts |
Token - FYI, coins that are tried to be passed off as error heads/heads or tails/tails are not true error coins either. They are also split coins. This story really makes you think twice when purchasing slabs!
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Rest in Peace
United States
5375 Posts |
Do you think its possible this guy was duped himself by some con man? Didn't he have a reserve on it himself? It seems unlikely, but I dunno...
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Pillar of the Community
United States
642 Posts |
ShadowCreator has a good point. If I had acquired this slab to sell, and it looked legit, even preliminary checking of the Serial comes up legit, generally I wouldn't think to go much farther.
With a return policy, and allowing the buyer to send it to be authenticated, perhaps the seller was duped himself.
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Moderator
 United States
16679 Posts |
I don't think the seller has any idea this coin and slab is fake. 7 day return seems legit. I'm with you guys.
swcoin.ecrater.com
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Rest in Peace
United States
5375 Posts |
Yeah, I've seen auctions for fakes/hidden problem coins and they usually don't look like this. Then again, it could be part of the trick.
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Rest in Peace
United States
9104 Posts |
As mentioned, the seller's track record is like going from rusty toys and costume jewelry to Fabrege eggs.
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Valued Member
United States
320 Posts |
you know, I was thinking the other day... why does PCGS (or NGS or ANACS, or...) not offer an "escrow" service? Or maybe they do? I am thinking sometihng like the following... I as the seller have a coin. I put it up on ebay or wherever, and say that for an extra x amount I will send it off to TPG, they will do their thing, and once it is verified the coin is sent direct from TPG to the final buyer. The TPG has no additional expense, but could charge a nominal extra fee for this service. The buyer could be absolutely assured of a verified coin because it came direct from the TPG, and the seller would have no questions raised to him later. |
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Valued Member
United States
312 Posts |
Pretty clever idea Secret Agent. If I had an extremely valuable coin, I'd probably just pay for the TrueView (I wish it came for free with slabbing though). With that, a buyer could match up the online image of the coin to the coin itself to insure that the cert # hadn't been swiped off another.
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Rest in Peace
United States
9104 Posts |
Isn't that essentially how teletrade works? The owner sends the coin to be slobbed, and after that, has no further contact with it? ebay tried to push escrow for years, with a couple different services, IIRC. It was nothing but an expensive time-consuming PITA for both buyer and seller. |
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Pillar of the Community
United States
2049 Posts |
The slab looked off to me right away because I seem to remember PCGS slabs having little clear circles, almost like points where the slab is sealed if that makes sense. I don't see those in either picture so that would have stopped me right there. If you look at this auction, 2nd picture, it should show what I am talking about: http://cgi.ebay.com/1885-CC-Morgan-...em43a68af0d5Did PCGS recently redesign their holders where the little circles aren't there any longer? I started to poke around on other ebay auctions for PCGS coins and seemed to find many examples of both styles. I don't buy slabbed coins anymore so I don't really keep up with changes in slab designs. |
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Replies: 30 / Views: 4,668 |
First Page
Posted 04/08/2011 12:58 pm
