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Do Coin Companies Sell TPG Rejects?

 
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Author Previous TopicReplies: 7 / Views: 412Next Topic  
Valued Member

United States
144 Posts
 Posted 08/03/2021  9:20 pm Show Profile   Bookmark this topic Add livingwater to your friends list Get a Link to this Message
I've purchased coins, not slabbed, that sometimes are scratched, gouged, etc. I send them back for another. It makes me wonder when companies send coins to TPG and some are rejected not MS69/MS70, do the companies sell these rejects on their web sites? The coins could have been damaged before the companies receive them. Here's two I sent back for better ones. Also a pic of $5 gold eagle graded by PCGS MS69 with bad digs I sent back for another. IMO the PCGS employee obviously didn't look close at it, just rushed it through.







Edited by livingwater
08/03/2021 9:39 pm
Valued Member
United States
166 Posts
 Posted 08/03/2021  9:38 pm  Show Profile   Bookmark this reply Add 1847bill to your friends list Get a Link to this Reply
The big guys used to send low quality product back to the mint. Then the mint prohibited returns. The big guys then decided to sell to unsuspecting customers. Vicious cycle.
Bedrock of the Community
Australia
18958 Posts
 Posted 08/03/2021  11:54 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I can't see any reason why a coin company would not sell TPG rejects, if they can see a profit in it.

I do not collect slabbed coins for a number of different reasons.
As a potential customer of a coin company,
if I can see a numismatic cherry pick at the right price, I may well consider adding a TPG reject to my collection, if the price is right,
although as a general rule, I do not collect NCLT anyway slabbed or not slabbed.

Other collectors, that are a little different to myself, are very happy to add un slabbed NCLT to their collections. For example, silver round stashers (bullion), or World silver crown collectors (numismatic).
Edited by sel_69l
08/04/2021 12:44 am
Pillar of the Community
Canada
4779 Posts
 Posted 08/04/2021  12:02 am  Show Profile   Check thedollarman's eBay Listings Bookmark this reply Add thedollarman to your friends list Get a Link to this Reply
These are bullion..so not too sure what the difference is if there are minor post mint quality issues..

The PCGS grade on that coin is unfortunate, but the coin is still just gold.
feel free to call me Will. I'm a 21 year old collector/dealer from the Greater Toronto area

my PMs are always open, whether you have a question or simply wish to talk!
Valued Member
United States
144 Posts
 Posted 08/04/2021  07:58 am  Show Profile   Bookmark this reply Add livingwater to your friends list Get a Link to this Reply
Yes it's just bullion. I don't mind mild imperfections, damage, but if I can see it easily with my eye, no magnifier, it's going back for exchange.

There is a market for slabbing modern bullion. I think low mintage and mint errors are good reasons to slab modern bullion. A friend of mine mainly buys TPG ASE. I don't care much for them, but I have a few. For me slabbing/grading is best for older collectable coins. To each their own.
Edited by livingwater
08/04/2021 08:32 am
Pillar of the Community
Canada
4231 Posts
 Posted 08/04/2021  08:41 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
I don't see anything wrong with selling TPG rejects, as long as the defects are not hidden for the buyer. If it's gold or silver, they have a value, even if they are sent to the refiner.
Bedrock of the Community
United States
17480 Posts
 Posted 08/04/2021  2:22 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Of course they sell them. What else are they going to do with them, melt them down? Throw them in the trash? Even if the grade on the slab is higher than it should be they will ship them out. Most of them will stick simply because of what it says on the label.
Gary Schmidt
Valued Member
United States
144 Posts
 Posted 08/04/2021  5:13 pm  Show Profile   Bookmark this reply Add livingwater to your friends list Get a Link to this Reply
Obviously dealers won't throw rejects in the trash. My LCS puts problem bullion in separate tubes, labels them LTP, less than perfect, so buyers know there are scuffs, scratches, etc. Dealers who don't do this should expect some unhappy customers who send them back.
Edited by livingwater
08/05/2021 11:56 am
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