Post A Coin You Are Hopelessly Buried In

[AnkurJ]

I'll sell for a loss before being buried.

 

sell for a loss == being buried

 

I disagree. Being buried to me means you cant even sell the coin for anywhere near what you paid. I just sold a coin for $4100 that I paid $4400 for. I was happy to take the loss because it was a problem coin, and it freed up capital.

[Walkerfan]

I'll sell for a loss before being buried.

 

sell for a loss == being buried

 

I disagree. Being buried to me means you cant even sell the coin for anywhere near what you paid. I just sold a coin for $4100 that I paid $4400 for. I was happy to take the loss because it was a problem coin, and it freed up capital.

 

I agree with you, Ankur.

 

We would all like to make money or, at least, not LOSE any on a resale.

 

Losing $300 is not a fun thing but considering that you are recouping 93% of your cost, which is better than the standard 85% that you would at a major auction house----well then... it's not too shabby.

 

I have found that the problem lies the higher up the food chain that you go. 7% loss on a 10K coin is a WHOOOOLLE lot worse than 7% on a 1000 dollar coin, obviously, even though the percentage stays the same and still seems good.... it is NOT and it becomes much less 'acceptable'.

[Mary B]

Depends on your budget, on mine losing $20 hurts the next purchase.

[Oldtrader3]

What has probably hurt my feelings more as a person than monetarily, is being sold an altered coin by someone with whom I have respected as a dealer and done business with many times. These coins that had been doctored were not cheap coins though and I certainly do not have the proof that the dealer willingly even participated in the specific coin doctoring involved in these incidents.

 

The issues in my case, were classic, better grade/MM, type coins that were purchased raw at larger,highly promoted, auctions. I have bought (3) of these coins in the past and all three were doctored so skillfully that it literally took years for the evidence to change state sufficiently to see the problems under a 4X loupe.

 

Because of these circumstances and because I trusted these dealers, I did not send them in to be certified right away. Shame on me. I do not feel right about assigning any blame to the dealers as well because there is no "smoking gun" evident here and it is just misfortune all around.

 

Fortunately imaging and TPG services are now preventing some of these issues from arising as frequently as in the past. Live and learn.

[coinman_23885]

Topless Auctions from MI via an online bid system.

 

Try reporting them to that state's attorney general office. Many have consumer fraud divisions. Also contact the state corporation commission to see if they can do anything. You may be able to pressure them. All in all, I would assume they would rather refund your $60 dollars then fight with you over it.

 

Also, if you used PayPal, did you pay from your credit card? Explore the possibility of a charge back as a mechanism for getting around PayPal.

[TomB]

Topless Auctions from MI via an online bid system.

 

Try reporting them to that state's attorney general office. Many have consumer fraud divisions. Also contact the state corporation commission to see if they can do anything. You may be able to pressure them.

 

Seems like an exceptional amount of time and effort on the part of many individuals to force an auction company that may have pre-bidding agreement terms into refunding a possible $20 loss.

[coinman_23885]

Topless Auctions from MI via an online bid system.

 

Try reporting them to that state's attorney general office. Many have consumer fraud divisions. Also contact the state corporation commission to see if they can do anything. You may be able to pressure them.

 

Seems like an exceptional amount of time and effort on the part of many individuals to force an auction company that may have pre-bidding agreement terms into refunding a possible $20 loss.

 

I personally agree with you, but some people are willing to fight it as a matter of principle.

[jerseycat10]

Topless Auctions from MI via an online bid system.

 

Try reporting them to that state's attorney general office. Many have consumer fraud divisions. Also contact the state corporation commission to see if they can do anything. You may be able to pressure them.

 

Seems like an exceptional amount of time and effort on the part of many individuals to force an auction company that may have pre-bidding agreement terms into refunding a possible $20 loss.

 

Agree 100%. In my opinion, this is a classic case of caveat emptor.

[Mary B]

Not worth the stress to me. Stress amplifies my pain so something to be avoided.

[Oldtrader3]

This was a whole lot more than $20. lost on each coin but like I said no "smoking gun". Shame on me for waiting to at least have the coin certified.

 

I am too old to care about revenge anymore, Just justice once in a while or maybe warning another collector about something that might affect them down the road. One could call it the cost of entry in this or any hobby by figuring you are going to lose half of your cost in a "Details" holder.

[Kamillion]

i am buried in everything except coins.

[mailman1959]

I plan on being buried with at least one of my coins! Who said you "can't take it with you"? Date and location not yet determined............