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 Replies: 12 / Views: 2,178 |
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New Member
United States
3 Posts |
Hi, Someone I know supposedly bought a 1910 st gaudens $20 m-66. It was slabbed by the NNC. This person was told he was getting a steal because there are only 4 inthe world and it's worth $50,000. He paid $8000. I can tell you the people that sold it to him. Was this a major rip_off? How might I found out how much the coin is really worth?  |
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New Member
 United States
3 Posts |
P S I forgot to say that this coin is supposed to be a p not a d
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Pillar of the Community
United States
1534 Posts |
Yes, the person definitely got ripped off. Most likely the coin is worth in the $2000 range. NNC is a basement slabber and is not reputable.
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Valued Member
United States
161 Posts |
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Moderator
 United States
23522 Posts |
Your friend is about to learn a very expensive lesson.
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New Member
United States
3 Posts |
Thanks for your feedback. He's going to return the coin.
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Rest in Peace
United States
5375 Posts |
make sure he sends it back with signature confirmation and the whole package, etc. This way they cant claim nonreceipt and double burn him. Please do tell who sold it to him, also.
Edited by coinguybrian
04/06/2010 7:40 pm
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Moderator
United States
16677 Posts |
Tell your friend to stick with PCGS,NGC,ANACS,or ICG. By the way, the seller has no idea what he's doing. At least that is what it sounds like.
swcoin.ecrater.com
Edited by vermontensium
04/07/2010 12:28 am
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Pillar of the Community
United States
3076 Posts |
NNC self grades there own holders and are at least 3 grades over the actual grade and are often problem coins..just check out the TPG section on this site for additional information.... |
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Pillar of the Community
United States
511 Posts |
NNC is another in the long line of what are known as third world grading services.
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Pillar of the Community
United States
968 Posts |
The biggest problem I see in all of this is that your friend didn't seem to do even a basic amount of research before making this purchase. I don't mean to sound harsh, but buying coins, especially online, is about as "buyer beware" as it gets. Tell him to get a RedBook at the very least. It is easy to look up in the RedBook and see that all three types of 1910 St. Gaudens only go for about $1500 in MS-63 in that book. Even accounting for the increased value of gold we are talking maybe $2000 or so. It is very important NOT to trust claims made by the seller along the lines of "only 4 in the world". Coins that rare do not sell for $50,000. They go for 10 times that at least. For example, there are 13 1933 St. Gaudens in existence. The one that was for sale in 2002 went for $7.6 million dollars! Similarly, the 1913 Liberty Head Nickel is known from only 5 coins. One just sold a few months ago for $3.7 million. THAT is the kind of money 4 of a kind coins go for. |
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Pillar of the Community
United States
1304 Posts |
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Pillar of the Community
United States
3294 Posts |
NNC = No (k)nowledge of coins (or spelling)
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Replies: 12 / Views: 2,178 |
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Posted 04/05/2010 7:49 pm
