Not my pictures... But even with the bad pics you can still see what I'm talking about. It was offered to me, and I pointed out the problem to the owner before it was consigned to this auction. I have examined this coin in hand and it is a real coin but it has most definitely been holed, plugged, and repaired. Any guess what someone is going to get nailed for? I've already contacted proxybid with my professional opinion.... but I doubt it will do anything. https://www.proxibid.com/asp/LotDet...GS-SAYS-ONLY-10-COINS-OF-THIS-DATE-HAVE-GRADE
Yeah, I saw it too before I scrolled down to see your other photos highlighting it. So would SEGS be on the hook financially for not catching this obvious defect? I am not even sure if they are still in business. I wonder how much culpability the auctioneer might have. Normally none, since he is relying on the slab. However, if a coin dealer put him on notice there is a major deficiency on the coin, and he does not mention it, I would think he might be on the liability hook as well for improperly describing the item. Lots of interesting questions.
proxibid is the wild wild west of coin auctions. There are no returns, no refunds. tons of shady coin dealers on there.
SEGS does have a guarantee... But I have no experience with it. Proxybid and I assume the auctioneer have been notified. I may call the auctioneer tomorrow as I do some work with them.
I got three ads from them late last year through the email I gave to Numismatic News (Numismaster). They seem to think that they're still a going concern, although if this coin gets publicized, it certainly won't help them. Maybe I should've sent them that holed, engraved proof Trade dollar. Maybe it would've gotten a clean PR58.
Still in business, they would be on the hook, and they do honor their guarantee. I wonder if they would have an out like the major TPG's do, calling it a "mechanical error" because it is obviously what the label says. In this case it is obviously a problem coin and not called such on the label. (I'm not saying SEGS or the major TPG's would actually try to weasel out of their guarantee that way, but they COULD.)
How did you come up with that price? I mean everything I have looked at shows prices higher than that for a details coin for this date. Curious how you priced this out.
To me this coin and a typical details coins are 2 separate animals. A coin in a details holder for cleaning or even damage is going to sell at a MUCH higher than a coin that has been holed and plugged. Would it sell for more then I was thinking? It's definitely possible... Would I sell it for more than that? No. In my experience problem coins can be like having a giveaway for leprosy. Nobody wants them. The only way to make problem coins go away is to price them low enough to get someone to bite.
An R-2 variety graded xf details by ngc, holed, plugged and whizzed sold on Heritage last year for about 2600.
