Is this a scam to get free NGC graded Franklins?

[Ducksoup]

" THESE COINS ARE GUARANTEED TO GRADE BETWEEN NGC PROOF 63 AND PROOF 65! IF A COIN FAILS TO GRADE AT THAT LEVEL BY NGC, RETURN THE COIN IN THE NGC SLAB, WITH THE DATED RECEIPT BY NGC, WITHIN 25 DAYS OF PURCHASE, AND YOUR COIN PURCHASE PRICE WILL BE IMMEDIATELY REFUNDED."

 

Franklin ebay Auction

 

I looked to see if they refunded the cost of slabbing but it doesn't look like it. Or is this just an oversight by me?

[WoodenJefferson]

I'm not certain the seller knows exactly what he is selling....and besides, how can he prove a coin returned to him under this guarantee was from this batch of coins?

[noow]

Scam? Maybe. It is definately a snoopy way to get free grading.

[MarkFeld]

The seller describes the coins as uncirculated, yet guarantees they will grade as Proofs.

 

 

[noow]

The seller describes the coins as uncirculated, yet guarantees they will grade as Proofs.

 

[James_OldeTowne]

" THESE COINS ARE GUARANTEED TO GRADE BETWEEN NGC PROOF 63 AND PROOF 65! IF A COIN FAILS TO GRADE AT THAT LEVEL BY NGC, RETURN THE COIN IN THE NGC SLAB, WITH THE DATED RECEIPT BY NGC, WITHIN 25 DAYS OF PURCHASE, AND YOUR COIN PURCHASE PRICE WILL BE IMMEDIATELY REFUNDED."

I don't know whether it's a "scam", but I do know for sure that some dealers do get their coins holdered this way, as you suspect. There's not necessarily anything wrong with it. You are, after all, buying a RAW coin, so why should the seller take on the risk and cost of certification?

[mtnstyne]

You would never get it back from NGC in time to collect on the return policy, plus I just don't trust anyone who only has feedback from private auctions.

[TheCoinGeezer]

SCAM

[Dcoin]

I don't know if its a scam, but the return policy is not worth the effort.

 

Lets say you submitt and pay the fees then get back all 63's and one 62. He pays you back for the one coin and you are stuck with late-date, low-grade Frankie proofs.

[johnny9434]

scam for sure ( depending how it pans out for whom )

[johnny9434]

I'm not certain the seller knows exactly what he is selling....and besides, how can he prove a coin returned to him under this guarantee was from this batch of coins?

 

I believe you are very close on this. I asked the seller a question on what made an uncirculated coin a proof. the answers was

HI. A proof 60 or higher is uncirculated, by definition. Have a great day.

 

There is some confusion on the definition for sure