1799/8 Draped Bust Large Cent

First and foremost.



Moving on. I am very sorry to hear that your coin dealer would be so unethical as to take advantage of your lack of knowledge to basically steal a coin from you.

PCGS data for the cert # you provided:

PCGS Coin Information
PCGS # 1446
Date, mintmark 1799/8
Denomination 1C
Country The United States of America
Grade Genuine Fine Details (97 - Environmental Damage)
Mintage 42,540
Holder Type Standard

I am guessing from your post that you asked the dealer to submit the coin to PCGS on your behalf.

If you have not signed anything, and no exchange of goods has taken place (you did not accept any payment), then the dealer has committed theft, and you would have to call the police.

If you agreed to something along the lines of "I'll sell the coin to you depending on what PCGS says", you are still welcome to take the coin and decline his offer. You would still be responsible for any fees you agreed to pay him for his time and submission fees.

If you consigned the coin to him for resale, and signed something to that effect, and you are the one who told the dealer a consignment value, that may be something that cannot be fixed. However, the dealer must either pay you the agreed amount or return the coin, or it is theft.

If, at any point, you accepted payment of any amount from the dealer, without a written sale agreement or receipt, that complicates things to where you're going to need legal counsel, most likely. There is an outside chance that if the dealer is a member of organizations such as PNG or the ANA or even PCGS that they might be able to force the issue under threat of his reputation and privileges; speaking to an investigative reporter might also provide leverage in your favor. No dealer wants to see this headline in the morning paper:

"Local youth finds $35k coin, coin dealer takes coin and refuses to pay for it"


Possible example: You have an oral agreement with a dealer to sell a coin to him for $3500. Dealer takes the coin, on a promise to pay you, and you leave without receiving payment; dealer then offers you a small payment later on but has not paid the $3500; dealer is possibly committing a crime, and you will need to get the police and/or an attorney involved to protect your rights. I pray that you have something in writing such as a sale agreement which denotes the terms of the sale (e.g. Dealer X agrees to pay $250 per month for 3 years until the balance of $3500 is satisfied, or whatever) in which case there is an enforceable contract. If this was entirely word-of-mouth it may be much more difficult to force the dealer's hand and you may need counsel. I am quite confident that if the facts you have given us are accurate that a judge would rule in your favor since the dealer's actions are at best unethical and at worst theft.

We need more details, please.


Standard Disclaimer: The above is not intended to serve as legal advice or counsel. You should consult with a local attorney and/or the police department, who are familiar with local laws and ordinances regarding sales transactions, for reliable legal advice prior to making any decisions.

You have got to be kidding me...

Sorry to have to post this way, but, this is one of the dumbest, stupidest, etc., posts I have ever read on CCF. The OP hands over a coin that is property of his to someone that he probably does not know well, decides to let this person send it in for grading and then decides to let the person sell it for him. WHY? The OP states that he is 24 and that he is young and dumb but learning every day. Well, at 24 you should be wiser my friend...Not sure I believe this story, but if true call the police and take it from there. Good luck!

A couple hundred bucks for a F details S-188?
This guy is a crook. Get law enforcement involved. If true, he needs to be shut down from what you told us.

Update?

Okay let me start from the top.

July 10th dropeed of coin at shop. Here is a copy of the receipt.












Now the deal was that he would send it to get graded and he would charge a 15% fee for selling the coin.

Here are a few pictures I took of the coin when I dropped it off.














/Now fast forward to 8/27/15

Not one call from him in that time.

He tells me that the coin was graded this and printed this sheet out for me.

I don't think this is the correct cert number. PCGS #32175634


I think he gave me a different one so that I couldn't trace the coin back to him.

So he says its graded enviormental damage fine details.

I asked what does enviormental damagae mean.

He tells me it significantly decreases the value by more than 50%.
and that I should be able to get a couple hundred bucks for it. So I left and went to another coin store and asked them what they would pay and showed him pictures and what not. He told me to not take any less than 3500. So I emailed the dealer that had my coin and said don't sell it without calling me first. I just had someone offer me 3500 for it. he replies and says ok. A month later I go back in and he says he traded it for some other coins and that I would get my 3500 when he sold the coins he traded it for. This is where he has done nothing but give me small payments and doesn't even act like he cares what I do or say.. I told him not to sell it without calling and he just trades it and makes the decision for me and than I'm still waiting to get paid. I think he didn't sell it he is just holding onto it to put it In auction so he can gain all the money.

I think I found the auction. Do this coin and the one from my pictures look similar.?

http://www.collectorscorner.com/Pro...?id=22576823

or this one

http://coins.ha.com/itm/large-cents...auction-info

thank you all for the help

I am late to this topic, but based on the documentation you provided it looks like you have been accepting payments and the balance is now down to $380. he owes you.
I am not a lawyer, but to me your accepting payments ( there is quite a few over time) looks to me to be a contract/agreement you accepted. Had you not taken any payments from the dealer maybe this would be a different story.
Hopefully someone can come along and clarify what your options are.

I wish you had found us earlier and we could have walked you through the process.

Welcome to the CCF, Blezzysallday. Sad beginning, this. It's doubly sad because you didn't start your journey with the 1799/8 here, first. That coin looks better than a fine details grade to my eye, but closeup pics can make quite a difference. Then too, there can be a very large swing in prices offered by the most knowledgeable dealers on these. Oftentimes, the trick is finding a dealer who is in need of one for a wealthy customer. Your 1799/8 could have changed hands multiple times by now.

IMHO, you need to consult a lawyer about this. You might be able to negotiate a larger settlement from the dealer so he could avoid civil court, yet I'm not optimistic.