Ebay mistake costs big money

I would not be happy if I spent good money on a "perfect" coin and got less than perfect eye appeal for a slab flaw. I know it bugs me when I get a coin online where they focused past the scratches in the slab and I get a slab so beat up it really does detract from the eye appeal of the coin. That's the risk of older slabs that have been passed around a bit. But not something that was this new.

I wouldn't blame the seller, buyer or ebay. IMO NGC put out an inferior product. Why the awful slab and not edgeview that present all coins so much better? Why the smudge? After 20+ years in business they should have a product that doesn't produce that problem. Would you all accept your $400 iPhone with a similar defect? Likely no. So why this coin?

I bought an NGC slabbed modern to fill a type set spot. It's obvious it was sent in with a bulk submission and the seller never put hands on the coins, only the graders at NGC yet there was a big fingerprint on it that will certainly get uglier with time. He and I worked out a deal but it was only a $10 coin.

I know this site is loaded with "sellers" that stick together and can't stand buyers either returning stuff or negotiating for lower prices, but that's part of the market. It's a shame the seller lost his huge profit margin but I wouldn't like the coin if the slab was not to my liking either. And I would probably send it back to. If I was buying a VF35 or something I wouldn't care, but a perfect coin MS70 I would want everything looking good and it has nothing to do with buyers remorse. It might be in this case, but there is no way to know for certain so why throw assumptions out there about this guys character.

If the buyer started a thread first about getting the coin with a slab problem and said dealer should have disclosed it, 99% on here would agree with the post and slam the seller.

 

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I completely understand what you are saying...but I don't think this is what happened here. First, the smudge can be seen in the photos...so their shouldn't be a surprise there. Also, there is another reason (one that makes a ton more sense)...buyers remorse.

I know that's not a "good reason" but it makes the most sense. These coins were HOT when they first came out (and I mean RED HOT). Those who got their hands on the first examples quickly sold them and made big money. Even only a couple weeks later...the prices have dropped significantly. Yes, they are still expensive and still a hot item...but not $5K hot like they were. I'm sure the buyer realized this and returned it within the return window. I believe the slab smudge was an excuse.

It's not the "right" thing to do on the buyers part...but it's within the rules.

Oh, and I'm not really a seller so I don't have anyone to "stick together" with.

 

Yep, think the buyer would have returned it if the price had gone up?

 

Not for a second.

 

I dont see a scam here. I don't know why you blame Ebay. Ebay buyers have a 14 day return policy, If you choose to sell on ebay you follow their rules.

 

In this case the reason the coin was 4k was the slab. So yes you would want the slab perfect

 

I don't think anyone said it was a scam. The original poster said he made a mistake by allowing returns. I think he accepted fault.

I don't think the buyer did anything wrong. He put down a lot of money on a coin from a seller who has a lenient return policy. Then he changed his mind.

 

I agree...no scam here. I think what the buyer did is a little "underhanded" but it's certainly within the stated policy. IMHO, it's just not the right thing to do from the buyers perspective.

 

what does IMHO mean?

 

IMHO

 

I might have ostriches

http://www.acronymfinder.com/I-Might-Have-Ostriches-(IMHO).html

 

In my humble opinion.......

 

whaaa?

 

Darn kids wit yer wacky terminology

 

It's true...I'm totally a kid and that's never gonna change.

 

Actually, it was 4k for the label, not the slab. The slab is only worth $10. ....and the label was perfect!

 

That is not true. If I had the coin and the label cracked out of the plastic holder, It is not a 4k coin

 

There's fools willing to pay moon money for labels. That's their business and preference for collecting.

 

Couldn't have happened to a nicer guy either. I really hate it Joe! Hope everything works out.

 

Thanks Jay. I really appreciate it.


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