Heritage Auction Error

[spy88]

Letting the cat out of the bag before I receive this coin, I would like to run a poll as to what you think I should do (or what you would do) regarding the mistake. See Leo's thread about error listing of Heritage coin.

 

http://apps.heritagecoin.com/common/view_item.php?Sale_No=24061&Lot_No=13239&zoom=1&lighten=3#Photo

 

As you can see, the coin isn't listed as a DDR---by Heritage or the insert, but clearly this is what it is. As the winner of this coin and have already paid for it), and putting up this poll before I receive it, Heritage or the consignor may catch the discrepancy prior to shipping.

[Hoot]

This is a classic cherrypick. Let the "big boys" live with their oversights. If you were in a coin shop and saw this coin priced at, say, $100, would you think for a minute that if you paid that price, the proprietor would not make his/her money? Of course they would. They would benefit from the sale, and you would have cherrypicked an excellent coin. Be happy.

 

Hoot

[Wihlborg]

David,

 

I agree with what Hoot said. Also, in all probability neither the past owner nor Heritage has any idea that the coin was in fact a DDR. Over the years, I have bought a number of coins in TPG holders where the label listed the wrong mintmark and believe it or not, once the wrong date! I have always caught these mistakes before buying the coin, but since the mistakes were in my favor, I happily bought the coins anyway. The grading companies call these mistakes ‘mechanical errors’, I call them opportunity.

 

The fact that someone sends a coin in to be graded, and gets it back mislabeled and doesn’t even realize it, and then goes on to sell the coin as what the label says it is tells me that there are a lot of people out there who (1) don’t know what they really have, and (2) only read what the TPG label says the coin is and don’t bother to look at the coin itself. You can only feel taken if you know you were taken.

 

Enjoy your new coin!

 

John

[spy88]

Thanks to you both, Mark and John. Coming from the two of you as well as 8 others, it reinforces the fact that I was and still am of the same mindset.

 

Many times, we all hear about a collector cherry-picking an auction or a dealer but seem to never hear from a dealer how they do/did the same thing to a unsuspecting seller. To me, this is the same thing as a mis-priced item at any store. 99% of them will honor the lower tag price for the item (and the employee who priced it/them will be "attended" to in short order! ).

 

Will let all know how it goes.

[michael]

you own the coin

 

fair and square

 

 

michael

[Leothelion]

David

Congrats to you! I don't even own such a coin! They should send it to you, your bid is a fair value. This is a classic example of a true collector buying the coin and not the slab!

 

Leo

 

Although ICG's grade may be two points off!

[Dan Rydell-migration]

If you keep it you're a thief and your children will be ashamed.

[thebeav]

If you keep it you're a thief and your children will be ashamed.

That's a beauty.....Needed a good belly laugh to close the day.

Welcome to the boards Dan !

Paul

[spy88]

If you keep it you're a thief and your children will be ashamed.

 

Ah, no children, but will 3 cats count?

 

I know mine would drop to a 65 if crossed but...

Just comparing: The last PCGS MS66 1939 DDR sold thru Heritage went for $1265. The highest ever paid for one (thru Heritage) was $1610. back in Aug of '01.

This one could top that! The bidders sure want this one bad!! Seller is the current owner of the #3 All Time Finest w/Varieties 1938-1964 Jeff Reg set.

 

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3914353629&sspagename=STRK%3AMEWA%3AIT7rd=1

[spy88]

And the score is 19 for keeping it and 2 against keeping it. Also wondered if they would catch the mistake and not send it at all---got it today.

Also, the one listed above sold for $1475.

 

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SOOOooo close to FS!!!!!!! VERY pronounced doubling. How could everyone who ever owned this coin miss it??? One owner? How could ICG miss it when (IF?) they looked at the steps?

[Wihlborg]

David,

 

How they missed it, I don’t know.

 

Just be glad that they did!

 

Congrats!

 

John

[Beijim]

How could ICG miss it...

 

Thanks for giving me an end of the week laugh. Judging from the ICG coins I've owned, they miss a lot.

 

Beijim

[Leothelion]

The likely reason why ICG, or any other grading service, for that matter, missed it, it's the way most coins especially moderns are graded. The reverse of a coin is seldom looked at or factored into the certified grade. And this is supposedly from the horse's mouth of pcgs himself! The grade of these coins are instantly decided from just the obverse only! The reverse may be glanced over only to see it it will bring down the obverse grade. Believe it or not, this was how it was explained to me.

 

Leo