| Author |
 Replies: 19 / Views: 3,480 |
|
Bedrock of the Community
United States
11882 Posts |
https://www.ebay.com/itm/1799-Drape...112639476004Last week, there was an interesting listing on the bay. A new seller was promoting the sale of Dad's coin collection. The highlight of the offering was a listing for: 1. A 1799 Draped Bust Dollar PCGS AU53, and 2. A 1800 Draped Bust Dollar Raw but very high grade. The listing started at a dollar and sold for $13,100. I was mulling bidding on it, and wanted to discuss it, but didn't want to get in the way in case someone here was in the middle of trying to acquire these. Now that the sale is over, what are your thoughts on the listing, the story, the coins, the grades and the price it sold at? This was not the typical auction at the bay. Seller also had a bunch of key date Morgan's, 1879cc, 1889cc, 1883s, 1884s, 1891cc in PCGS slab, etc. The list of this seller's offerings was pretty interesting. Your thoughts appreciated if you want to discuss. Thanks! IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
11/20/2017 12:30 pm
|
|
|
|
Pillar of the Community
 United States
3058 Posts |
This seller has similar photos to some buyers I don't buy from.
|
|
Pillar of the Community
United States
992 Posts |
I'm kind of wondering just exactly whom is the guarantor of the authenticity of these coins?
He could have gotten a lot more money if he had a certificate with each of these, and a written offer from the 'dealer who really wanted these'.
Maybe I'm wrong, but my trust radar starts to spin sometimes.
|
|
Bedrock of the Community
13014 Posts |
I guess there's not much risk since you can always return it, but I wouldn't have touched that listing. Too many coins in the history that would have been no brainers to have graded. There may not be any ill intent but I have a hard time looking past that they know what PCGS is and still left some of those raw
|
|
Bedrock of the Community
 United States
11882 Posts |
Mine was going off too, but the raw 1800 $ looks so high grade and convincing. Looks geared to instill greed. Apparently they were successful in attracting a lot of interest unless it was just a ring of shill bidders driving the price up.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
|
Pillar of the Community
United States
1374 Posts |
I know you might get a bargain, but personally I'd never buy a raw coin off of ebay for this kind of $. Also, if the following was true Quote:
Dealer offered quite a lot on these coins.. Really wanted them. Then why start the auction at 1 cent and take the risk of selling for less than what the dealer offered? Was there a reserve for this auction? |
|
Pillar of the Community
United States
3210 Posts |
If the deal is to good to be true it usually is. Obvious there are exceptions like bandsdean scoring on the 1804 bust quarter. But the odds are never in your favor.
|
|
Bedrock of the Community
United States
11882 Posts |
It is clever to throw in a PCGS au53 draped bust dollar worth more than $5-6k in the mix for credibility. It is a pretty tantalizing inducement. It limits the downside to about half.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
|
Valued Member
United States
81 Posts |
I'm new to coins but not collecting in general, and something feels off here. In this auction the seller includes "Very toned" in the title, but in the listing we're talking about they state that "Some of the coins have started getting colorful. Not sure if this is a good thing." If you're not sure if it's a good thing, then why put it in the title? If I was the buyer however, I'd tell the seller that I'd pay cash in person. You can fly from most parts of the US to KS for $400-$500 and it would be well worth the cost knowing that you weren't getting ripped off. |
|
Bedrock of the Community
United States
94367 Posts |
|
|
Bedrock of the Community
13014 Posts |
Quote:
If I was the buyer however, I'd tell the seller that I'd pay cash in person. You can fly from most parts of the US to KS for $400-$500 and it would be well worth the cost knowing that you weren't getting ripped off. Paying cash in person puts you at greater risk as a buyer. If you're wrong or miss something you have no recourse to get your money back. |
|
Bedrock of the Community
United States
11882 Posts |
Quote:
If the deal is to good to be true it usually is. Obvious there are exceptions like bandsdean scoring on the 1804 bust quarter. But the odds are never in your favor. But how would you feel if that 1804 quarter was offered to you first and said no because you didn't like the situation and then saw bandsdean make a wheelbarrow full of money by taking the risk you didn't take? That would hurt in my opinion. There is risk if you do it and risk if you don't do it. Risk of walking away from a treasure voluntarily is small as you say. C'est la vie. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
11/20/2017 5:14 pm
|
|
Bedrock of the Community
United States
11882 Posts |
Quote:
If I was the buyer however, I'd tell the seller that I'd pay cash in person. You can fly from most parts of the US to KS for $400-$500 and it would be well worth the cost knowing that you weren't getting ripped off. I would also add that if you were dealing with bad people, you may be walking into a robbery in person rather than a long distance robbery. I might prefer the option without the possibility of physical harm. You can never know these days. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
|
Bedrock of the Community
United States
10982 Posts |
|
|
Pillar of the Community
United States
4469 Posts |
My gut is that this is a high end scam. The biggest issue is the photos on the raw 1800 dollar have glare or hot spots. The seller was able to photograph the coin in plastic without glare and we all know plastic holders are more difficult to photograph.
|
|
Pillar of the Community
United States
3479 Posts |
Quote:But seriously, it looks like the AU53 piece was added to "Daddy's" estate quite recently: http://images.goldbergauctions.com/.e=1&lot=1247 Nice detective work, BH! Overland Park is only 20 minutes away from my place. There have been a few public service announcements on our local craigslist page about folks selling fake gold bars. Although the dollar looks real it sure smell fishy. |
| |
Replies: 19 / Views: 3,480 |
Posted 11/20/2017 1:39 pm
