SEGS NOT HONORING GUARANTEE

I agree with Conder101 fully. He's a damn fool for not honoring it in some fashion. I suggest the op email a link of this thread to them. See how quick he gets a call then. This thread alone is now here forever. For every Tom Dick & Harry to find in a Google search under "SEGS guarantee" FOREVER. What an idiotic move on their part

 

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This post of yours explain a lot. If you are new to collecting, you should never have bought a $5,000 coin (which apparently you thought is or could be worth $19,000) since it seems you didn't think there was any downside risk.

You could have submitted the coin 100 times to SEGS and it would have no bearing on the grade any other Third Party Grading service will assign because SEGS has their own grading standards and so does every other service. This is assuming another service will even assign it a grade at all since grading services frequently "reject" coins in other holders with "genuine" or "details" designations.

I can assure you that if crossing over a $5,000 SEGS coin into a PCGS slab where it would be worth $19,000 had any realistic prospect whatsoever, the overwhelming probability is someone would have done it long before you ever saw it. US gold coins at that price level are frequently offered for sale or sold multiple times in 10 years and someone would have noticed it.

 

I'm still thinking Larry made some type of offer but the OP would not work with him.

 

Distinct possibility though I don't recall the OP admitting it. I agree with the recent posts that even if no legal liability exists, it is a public relations loss.

 

I disagree with your logic as it is flawed. The market value of your dollars has decreased because people were paying less and less for them as time goes on. The $5.00 purchases came after the $500 purchases, therefore setting the new standard and market value. That is EXACTLY how market values of coins work. The values of coins CAN drop. The seller can reasonably expect to get what the last similar coin sold for.

 

I see your point but no way in Hades is the OP entitled to an exorbitant windfall on a coin that sold in another companies slab.

 

That wasn't my point. I don't see how you came to that conclusion from my post. I'm just saying a coin is worth only what someone is willing to pay for it. The OP was willing to pay $5k for the coin in question in the holder in question, so that is what it is "worth" in that holder.

 

Gotcha.......

 

It was well-known to him because he owned the company both before and after - he founded it; the change was only in legal definition. Otherwise, I cannot fault your excellent post.

 

It has been my experience, especially in the higher grades, scarce date coins, that buyers are reluctant to purchase a coin in anything other than the 2 touted A.N.A. representative TPG. The sales pitches of sites as this, and others have seemingly created unrealistic attitudes pertaining to TPG capability.

I've collected sight-seen coins from TPG, as ACG, who was publicly ridiculed by many. Upon clandestine submission to the Paramount TPG, received grading greater than that which ACG had originally assigned. The new grades more than doubling their value.

My general observation has been that I'm more likely to receive a lower regrade on a peer TPG graded randomly selected coin, than a selected less respected TPG graded coin.

I've publicly predicted in advance on this site that a severely labeled problem coin in a Paramount TPG slab would be sold for multiples of that guessed by site participants. It did.

I've offered on this site a scarce date mint state Liberty $20 with virtually flawless detail, lustrous fields, lacking device "bag marks" and hairlines. The coin was in a SEGS designated "cleaned" slab. No coins of that date are recently offered on primary sales sites. Intent was to determine/show buyer bias. It will eventually be housed in a "Top Tier" TPG slab. Expected sales price is $1900-$3200, based on current Gold pricing.

No interest was shown here.

 

What does "basically" mean? There is more to this story.

 

basic

 

101 don't crack um out to me... leave um

 

That's really not a comparison at all though. You're basically saying you can cherry pick (aka selected) coins at a better rate than random chance would give you.

 

My guess is they'd look at the community standard relative to how SEGS holds themselves out in the market. If you're a physician who is trained in general medicine but you hold yourself out as an expert in plastic surgery and get sued the court will apply the plastic surgeon standard and not anything lower. SEGS website:

"When you select SEGS as your rare coin grading service you can expect the highest degree of numismatic skill will be utilized while authenticating and grading your collectible coins."

You hold yourself out at the highest standard you will be judged by the highest standard. The law is clear in all jurisdictions. You don't get to say you're an expert when it's convenient and then say "well, I'm not as much an expert as my competition" when you get called to the carpet.

 

But grading is a SUBJECTIVE OPINION. The laws and standards regarding plastic surgery are pretty much facts set in stone. The standards of grading, especially in the AU/MS level, are not. They are relatively consistent, but not enough so to be admissable in court. I have seen, IN FIRST-TIER TPG SLABS, MS-62's that look like other MS-65's, and I have seen MS-66's that look like other MS-64's. This little bit of inconsistency makes your argument invalid.

 

Actually that's not correct. Medicine is very much an art - like coin grading. Trials are held to find fact and ferret out the community standard. And almost no case - like a coin - is identical.

 

Not really but I guess some folks choose to believe that simply because one individual bid up a coin in a 3rd tier slab based upon a 1st Rate grading companies slab means that a "market price" has been set.

I tried that years ago with an MS65 1923-D Peace Dollar in an NTC slab. I stupidly bid it up to $125. Should that have been the market price for the coin or simply a dumb error in judgement that everybody except me and the underbidder knew?