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Canadian Notes-Ebay Dilemma

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United States
560 Posts
 Posted 01/25/2014  1:03 pm Show Profile   Bookmark this topic Add ichirensha to your friends list Get a Link to this Message Number of Subscribers
I won this ebay auction for a set of an advertised uncirculated $1 to $50 colorized notes lot. The only problem was that three of the notes weren't uncirculated, the $10 note was Ef or at very best Au, having several slight creases and edge dings. The $5 note has a faint center crease and is probably a good Au. The $2 note also has a diagonal crease on the left side. The $50,$20, and $1 are beautiful Unc. with strong embossing marks visible.

I'm very new to Banknote collecting and not very confident in my abilities yet. The lot wasn't too terribly expensive but as a buyer you do want what was advertised.

What would you do? Chalk it up to a learning experience or send the notes back for a refund? I do love the $50, $20, and $1 but note sure if the money justifies these three unc. notes and the other two Au, and one Ef note.

Thanks for your opinions and advice.

http://www.ebay.com/itm/UNC-Canadia...p=true&rt=nc
Edited by ichirensha
01/25/2014 1:06 pm
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AgCoinAu's Avatar
Canada
3049 Posts
 Posted 01/25/2014  1:25 pm  Show Profile   Bookmark this reply Add AgCoinAu to your friends list Get a Link to this Reply
I think at this point you have one of two options...

1) Send it back (make sure you send it signed mail) and get your refund as it's not exactly as described according to you.

2) Send the seller and e-mail and see if you can negotiate a partial refund according to what you think sounds fair. (I don't think you will be as successful with this though as the last bid before yours is only $2 less than the winning bid)
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yingyang's Avatar
Canada
1823 Posts
 Posted 01/25/2014  1:47 pm  Show Profile   Bookmark this reply Add yingyang to your friends list Get a Link to this Reply

Quote:
Send it back (make sure you send it signed mail) and get your refund as it's not exactly as described according to you.
Quote:


This is a must make sure you send it signed mail
Edited by yingyang
01/25/2014 1:49 pm
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Learn More...
Canada
9871 Posts
 Posted 01/25/2014  1:52 pm  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
Rule #1 in this hobby is "Caveat Emptor"- buyer beware-,never ever rely on the grading of a seller you don't have 100% faith in,grading is always a matter of opinion. If you got 3 out of 6 UNC, you actually did well by ebay standards.
Before you chalk it up to a learning experience, you've nothing to lose by contacting the seller to express your displeasure and perhaps work something out.
"Dipping" is not considered cleaning...
-from PCGS website
Pillar of the Community
Canada
1505 Posts
 Posted 01/25/2014  2:01 pm  Show Profile   Bookmark this reply Add purelywasted to your friends list Get a Link to this Reply
I would send a note to the seller, but before doing this;

1. figure out what it would reasonably cost you to purchase these notes again (was this a good deal?)
2. see what it would cost for just the $1, $20 and $50 in same condition
3. look at what it would cost to replace the $2, $5 and $10 to a condition you are happy with (less the selling price of original notes).

If you can figure out these 3 things, you can come up with an upper end of a refund value or you will see if it is better to send them back, dollar/cost wise.

Now that you have an upper refund level, decide what the least amount you would be happy with, could be $0.

In the note to the seller, I would ask them what they would like to do. They might suggest a refund value (if you are happy take it, if not negotiate) or they might say just send it back. I find that sellers are usually accommodating and returning a product is often not worth the time/cost, for you or them, especially if it is expensive shipping with tracking etc... If they are real jerks, leave negative feedback and warn other buyers with facts of transaction. As a buyer eBay/pay pal/credit card is on your side and you will get your money back if reported in time, regardless of how unresponsive the seller is.
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Canada
867 Posts
 Posted 01/25/2014  3:50 pm  Show Profile   Bookmark this reply Add tripoli to your friends list Get a Link to this Reply
Chalk it up to experience, and become more aware of note grading.....Determine your paper money grading ambitions. YOu don't need to collect every variety ie signature type, replacement, radar notes etc......then upgrade your purchasing to Graded notes in UNC 60.....unless you are going for 1937 and earlier, you should be able to collect some nice notes reasonably priced and graded. There are some nice 1975 $100 notes graded in UNC+ for a very small premium, considering the underlying value is already $100. Or buy your uncertified notes from a reputable dealer, direct and off ebay.
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kuh_85's Avatar
Canada
2366 Posts
 Posted 01/25/2014  4:13 pm  Show Profile   Bookmark this reply Add kuh_85 to your friends list Get a Link to this Reply
As @purelywasted said, the first step is always to contact the seller. Be polite, assume it was a human mistake and propose a solution. I would usually take the ratio of the value of what I received to what I expected to receive and apply that to the price paid to figure out a proposed refund. Show your math so the seller understands it. For example, using the price guide at http://www.coinsandcanada.com/bank-...75&id_cat=17 I would say a Crow-Bouey $100 from the 1969-1975 issue listed at $120 for EF and $180 for UNC. If I had paid $140 for it I would ask for a refund of $160 - $160*$120/$180 is roughly $50. Make sure the refund you ask for doesn't drop the price paid below the face value of the note though! If the seller doesn't bite then return the item for a refund (tell them you're returning it and send them the tracking number). If the seller doesn't accept returns then open an "Item not as described" case and let eBay/Paypal sort it out for you.
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persistnt's Avatar
Canada
726 Posts
 Posted 01/25/2014  4:29 pm  Show Profile   Bookmark this reply Add persistnt to your friends list Get a Link to this Reply
do your serial numbers match the ones in the picture /?//? Makes me realize I could also be taken on the bay (Make same mistake as yu)....Those in pic look good.... I am not even sure what yu mistake was......Its was a seller mistake....
Edited by persistnt
01/25/2014 4:31 pm
Pillar of the Community
United States
560 Posts
 Posted 01/25/2014  8:55 pm  Show Profile   Bookmark this reply Add ichirensha to your friends list Get a Link to this Reply
Thanks very much for everyone's replies. The suggestions and advice have given me some things to think about. I've looked at completed listings on ebay and have come up with average selling prices for the grades I should have received and the grades I did receive.

kuh_85, The link you provided was very helpful, thanks. I've also done some comparisons with prices from this site. If the prices are accurate then I made up for everything with the $50 note.


pesistnt, Yes, the serial numbers are the same.

Another question: Will a regular black light bulb work as a UV source to view banknotes?



Pillar of the Community
Canada
1505 Posts
 Posted 01/25/2014  9:20 pm  Show Profile   Bookmark this reply Add purelywasted to your friends list Get a Link to this Reply
It is good to keep in mind that the prices on Coins and Canada are well above what things actually sell for. A quick search of ebay showed graded $50 selling for $140-$180. Something to keep in mind as yours are ungraded.
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