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Good Luck Selling Autographed Slabs In California

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Alpha2814's Avatar
United States
2023 Posts
 Posted 10/16/2016  12:36 pm Show Profile   Bookmark this topic Add Alpha2814 to your friends list Get a Link to this Message Number of Subscribers
Not directly coin-related, but a comment in another thread reminded me of this recently-signed piece of legislation:

https://teleread.org/2016/09/26/new...d-books-art/


Quote:
The law requires that any autographed item sold for more than $5 must include a certificate of authenticity including information about the dealer, where and how the item was signed, and the name and address of any third party from whom it was purchased.


This is completely absurd, and while it's probably unenforceable, it does raise some issues for those who do choose to follow it. From one of my favorite writers:

http://www.newsfromme.com/2016/10/0...ed-language/


Quote:
Let's say that years later, I decide I can get a hundred bucks for it so I offer it on ebay. I don't need a COA since I'm not a dealer. A dealer sees my listing and because of his expertise, recognizes it as authentic and thinks it might be a good investment for him because he can sell it for $300. But he can't because he'll have no COA to accompany that sale.


As noted in the linked articles, previous law was aimed mainly at sports memorabilia and this extension is aimed at forgery mills but goes too far.

I'm not interested in autographed slabs (Mercanti, Baseball Hall of Fame, etc.) but I'm sure some of us here are. I doubt legislation of this type will go beyond California but the Minnesota/bullion restrictions have caught my eye -- some collectors (buyers or sellers) may not want to deal in autographed goods in California anymore if this has legs.
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Saruma's Avatar
United States
968 Posts
 Posted 10/16/2016  2:27 pm  Show Profile   Bookmark this reply Add Saruma to your friends list Get a Link to this Reply
The law will need some tweaking down the road but it really isn't that bad. I went to the state website and read the law itself. That ebay example you provide is nonsense. The law doesn't require the COA to come from a third party. The dealer can make it himself after he buys the item. He only needs to make sure he takes note of the seller's name and address when he buys it. He doesn't need a chain of custody going back to the time of signing, just to the last guy to own it.

Basically it is saying that a dealer (regular folks are exempt from the law) needs to officially take responsibility for autographed items he sells as authentic. In other words, it is requiring him to in writing state that this is an authentic item and he is responsible if it turns out to be a forgery. I'm certain that in practice if a legitimate dealer gets fooled himself and sells a fake item (that he thinks is real) that he just needs take it back and refund the buyers money if it is shown to be fake. The police won't have time or interest to prosecute someone in that situation. But it does allow them to go after a seller that profits off of selling fake items intentionally, or through willful ignorance of the source of his items.
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moxking's Avatar
United States
17900 Posts
 Posted 10/16/2016  2:29 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
The Minnesota "ban" has proven a lame horse. Many dealers who got paranoid about it 18 months ago are selling to MN buyers again, regardless of the "law", which is completely unenforceable.

None of my favorite sellers ever stopped selling to us buyers here in the Lake State.

It's simply an example of laws being passed for NO OTHER PURPOSE that to give the guys who write them a chance to say they've done something (important?).
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paxbrit's Avatar
United States
992 Posts
 Posted 10/16/2016  3:06 pm  Show Profile   Bookmark this reply Add paxbrit to your friends list Get a Link to this Reply
All this agony over the new laws can be avoided simply by selling only genuine material.
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Coinfrog's Avatar
United States
94367 Posts
 Posted 10/16/2016  4:58 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Much ado about nothing. Any serious collector of autographed material should know his material and trust his dealer.
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jbuck's Avatar
United States
188765 Posts
 Posted 10/17/2016  2:15 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Much ado about nothing. Any serious collector of autographed material should know his material and trust his dealer.
I tend to agree.
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