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 Replies: 9 / Views: 1,390 |
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New Member
United States
2 Posts |
I recent acquired a NGC Grade 62 1908 D NM St. Gaudens. I bought it sight unseen from a reputable dealer for $2683. The coin was listed at the time of purchase for around $2000 on NGC and S1750 on PCGS. It's a beautiful coin. I contacted the seller afterward because I was concerned by the spread between the listed NGC and PCGS price and the price I paid for the coin. The explanation I was given seems lame They explained that they valued the coin above the NGC/PCGS list price. Has anyone ever heard of this before or am I getting my chain yanked? I mean I can't return the coin so it's mine but I don't have to do business with this company again and I can spread the word about their practice but I won't  about something that is legitimate. I'm new at buying non-fungible coins. |
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Pillar of the Community
Canada
5417 Posts |
You overpaid for it, plain and simple. The dealer can value it at whatever they want, doesn't make their price reasonable. See if you can return it for a refund, if it's a major dealer then I don't see why not (Although you've said you can't so...). There isn't any point is spreading the word, you paid the price they asked and their practices aren't bad fundamentally or morally so they did nothing wrong.
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Valued Member
United States
291 Posts |
You paid $1,000 too much for a common coin in a common grade. For the price you paid, you should have received a MS66. Seriously. In the future you should look it up first before ordering.
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Valued Member
United States
360 Posts |
Blame one person, yourself.
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Rest in Peace
United States
10625 Posts |
Is this seller a member of the ANA and PNG? You call this seller "reputable" and yet they have a coin listed for $1,000 above the FMV. I'm sorry, but his seller is fishing for this exact scenario, an inexperienced buyer to show up and pay waaay too much for something. The best thing you can do now Roger is stick around CCF and learn from the pros on this site. Please post questions here if you are not sure about a coin you want to pull the trigger on.  |
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Pillar of the Community
United States
3453 Posts |
Roger, I hope you are able to return the coin if you do not like it. In my opinion you did pay too much but this could be a watershed moment for you in your collecting career. In my opinion, published lists in most cases are only useful a guide for insuring coins, NGC/PCGS included. For a coin like yours, I would look up the sales history on Heritage coins and ebay to see what recent sales are. Always make sure you inspect coins that you are going to purchase especially if they are at the upper end of your budget. And even more important, please make sure to educate yourself and ask questions. CCF is a good place to post pictures and learn from. And remember that everyone's (dealers and CCFer's alike) opinion is just that, an opinion. |
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Valued Member
United States
291 Posts |
Please let us know the dealer.
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Moderator
 United States
23522 Posts |
Yes, we need to ensure that no CCF member ever patronizes this ripoff artist. NGC and PCGS prices are overinflated as it is, and someone charging even more is a thief.
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Pillar of the Community
United States
931 Posts |
Please name the dealer. He should be known as a scam dealers. I can understand how You can kind of blindly trust a big dealer, but sometimes
They have a big website and a not so hot business. He is actually kind of a thief.
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Pillar of the Community
968 Posts |
As somebody in the market for an '08 NM in 66, you should have done your homework. You paid about $1k in "tuition" there.
Bet you'll check more than just guides before you shell out that kinda dough for a coin next time... at least it's real and graded.
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Replies: 9 / Views: 1,390 |
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Posted 06/07/2014 11:21 pm
