Dealers cherry picking and selling you their rejects.

[mackbrass]

Are we going to have to pay a ransom to dealers to stay out of your merchandise before shipping? Is Apmex starting a trend for other dealers to follow with their premium on top of the premiums for their "mint direct" products?

 

I know this happens and i have heard of large dealers cherry picking through tubes of new releases for grading and shipping out the rejects but this is my first experience seeing myself. Last week i received my first 2 tubes of 2016 libertads with the intention of submitting a few for grsding and adding a 2016 MS70 to my registry set.

 

Once the tubes arrived I looped all 50 and only 2 were worthy of submission for grading. A red flag went up immediately when I opened the first tube and the top coin was upside down. There was also a lighter type of masking tape material that was broken, i assume from the mint, and a new piece of tape, totaly difderent type, added over it. Not only was the first coin upside down but the rest were about 50/50 on how they were orientated.

 

Over the years i have purchased many tubes for Eagles, libertads, maples, perth mint coins but this was a first. Needless to say i will never buy from JM bullion again. Are we soon going to have to pay a ransom to dealers like the added fees Apmex charges for their "mint direct" coins where they charge a premium to the customer for a guarantee on not cherry picking through your merchandise before shipping? If they are going to cherry pick, at least put them back in the tubes the right way.

 

Looking at the grading for this year on the libertads it seems as though 70% are making it to MS70 with almost 1800 graded, wow. I was expecting at least 20 coins out of my 50 to select for grading, all i got were 2 out of 50, really?

 

See more journals by TMCGRADY

[coinman1794]

Were these tubes of bullion represented as unsearched or mint sealed, when you bought them?

[Revenant]

This is actually why I recently told my wife that I'd never buy a raw coin from a dealer that submitted and sold graded coins if I wanted to submit some myself. I don't know that I'd ever trust that I wasn't getting a cherry picked selection.

 

That said, I love JMBullion - when shopping for bullion. Shopping for coins there just seems like going to the wrong place.

[CSdot]

The evidence does not look good. 2 of 50 is awful.

 

[mackbrass]

This is actually why I recently told my wife that I'd never buy a raw coin from a dealer that submitted and sold graded coins if I wanted to submit some myself. I don't know that I'd ever trust that I wasn't getting a cherry picked selection.

 

That said, I love JMBullion - when shopping for bullion. Shopping for coins there just seems like going to the wrong place.

 

That is a good rule of thumb, for most tubes i buy them from provident. This was my last tube purchase from JM. I have pirchased other thing in the past from them and have been happy.

[mackbrass]

Were these tubes of bullion represented as unsearched or mint sealed, when you bought them?

 

I dont ever remember seeing any dealer make a statement such as that.

[coinman1794]

It's very common for bullion to be offered in sealed monster boxes. If you are not buying a sealed box, you don't know what you are getting.

[Nutmeg Coin]

You gotta love those "original rolls" promotions.

 

I once shipped a sealed ASE monster box to a dealer that paid more for that. When it arrived he claimed because it had only one strap not two he could not offer his premium because of that. It was original from a company that sold it to me as such in a cardboard box.

[mackbrass]

You gotta love those "original rolls" promotions.

 

I once shipped a sealed ASE monster box to a dealer that paid more for that. When it arrived he claimed because it had only one strap not two he could not offer his premium because of that. It was original from a company that sold it to me as such in a cardboard box.

 

I have had similar situations where dealers or even ebayers claim they didnt receive what was sent. What i do is take pictures and insert them with the item, no qiestion os issues on what they received anymore.

 

One strap on a monster box means it is still sealed.

[Nutmeg Coin]

You gotta love those "original rolls" promotions.

 

I once shipped a sealed ASE monster box to a dealer that paid more for that. When it arrived he claimed because it had only one strap not two he could not offer his premium because of that. It was original from a company that sold it to me as such in a cardboard box.

 

I have had similar situations where dealers or even ebayers claim they didnt receive what was sent. What i do is take pictures and insert them with the item, no qiestion os issues on what they received anymore.

 

One strap on a monster box means it is still sealed.

 

So what would be the remedy if a major dealer like upstate claimed that one strap equated to a no longer sealed ASE monster box? Send it back?