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Coin confiscation and the grading services.

Started by truthteller,

4 posts in this topic

truthteller

truthteller

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I always wondered what the policy of the grading services is to coin confiscation. If a coin is considered "illegal to own" and passes throught the grading services, do they have an obligation to hold it for the secret service, or send it back ungraded to the owner? Do you think that once the grading services know about the coin, they should report it to the proper authorities or keep hush? 893scratchchin-thumb.gif

 

 

 

TRUTH

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gmarguli

gmarguli

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The grading services are not a court of law. They have no say in whether a coin is legal or illegal.

 

If they know it is illegal, then they still have no obligation to confiscate the coin just as you have no obligation to report that your neighbor steals cable. It'd also be an awful PR move to turn the coin over to the authorities on their own. Would you submit a coin to them if they did this?

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truthteller

truthteller

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  • Author
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The grading services are not a court of law. They have no say in whether a coin is legal or illegal.

 

If they know it is illegal, then they still have no obligation to confiscate the coin just as you have no obligation to report that your neighbor steals cable. It'd also be an awful PR move to turn the coin over to the authorities on their own. Would you submit a coin to them if they did this?

 

 

I know of a specific event where a stolen coin was turned over to the former owner by one of the grading services without going through the police, so I could see a coin such as the Dupont coin being turned over to the owners.

 

 

 

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gmarguli

gmarguli

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I know of a specific event where a stolen coin was turned over to the former owner by one of the grading services without going through the police, so I could see a coin such as the Dupont coin being turned over to the owners.

 

TRUTH

 

I assume you are talking about the Schwitz coin. If so, I bet they contacted the submitter before turning it over. The liability would be massive for them to do that without contacting the submitter - even if it were the same coin!

 

I also know of an event where *several* coins were submitted to a grading service and they turned them over to the original owner they had been stolen from. The submitter was notified before they were turned over.

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