Forum

[J.Cordeiro]

I do not deal with slabbed coins often and this is probably old news but, PCGS allows people who are auctioning off U.S. coins to attach a link from their auction to the PCGS price guide (Here) so that potential buyers of that auction can have a “current retail price” of a slabbed and PCGS graded coin to compare its value to a potentially un-graded coin. Great.

What’s wrong with this scenario?

If I understand this right, Sloppy Joe’s used coin world can attach a link from their auction to the PCGS Price Guide and, by association, use it to justify and convince people that their fair condition coin is equal to that of a slabbed, Proof coin?

I can understand PCGS wanting the free advertisement that will come from linking their site to as many auctions as possible, but won’t this have the potential of being used in the worst way? They do have a disclaimer that states:

Important Note: The prices listed in this price guide are for PCGS graded coins only. Coins graded by other grading services, or not certified by any grading service, may sell for different, often lower, prices.

But I wonder how many people will see it and understand it.

In my thinking, this will just help dishonest people overprice their coin auctions to an largely unsuspecting and gullible public. These are the same people that will go crying to the auction site responsible for the auction saying that they got ripped off and the next thing you know, the auction site will make up more rules that make it more difficult and expensive for the honest numismatist to sell coins.

Why not avoid all the arguments and drama by stopping the practice now.
Of course, this could just be me not having enough coffee yet.