I received some coins back from one of the two main grading services. A Trade Dollar graded "not suitable for certification". Hmmm, it sure looked good to me as an XF/AU piece with original toning. A Guinea from the 1790's with "fine" details (according to the world coin expert I bought it from) graded "authenticity unverifiable". I did get some coins certify that I had serious doubts about, and for that I am very grateful. I also had a couple of gold dollars declared "counterfeit", actually "not genuine" is the current phrase, what do you expect when buying such items from jewelry buyers for $80?
Hmmmm - never heard of them using the phrase "not suitable for certification". Which one was it that said that ? Normally they would give some other reason, like harshly cleaned or damaged. As for the guinea, take back to the dealer you got it from along with the TPG paperwork. He has to refund your money by law. And the gold dollars, they are most commonly counterfeited gold coin there is. Never, ever, buy one unless it is already slabbed.
The Trade Dollar was called: no grade comment: NOT SUITABLE FOR CERTI The Guinea was called: no grade comment: AUTHENTICITY UNVERIFIA :rollling:
It would be nice to see some pictures of the coin in question. I am continually amazed that with all the precautionary warnings regarding Trade Dollars specifically, that many of our CT members still buy Raw Trade Dollars through sites that are notorious for counterfeiters . I suppose a return at this time is not possible. Another hard earned lesson I presume. I hope your less vulnerable in the future.
Most of the trade dollars I've seen have been cleaned. The vast majority you find slabbed by NGC or PCGS only noted to be "genuine". I don't know what it is about them, but really hard to find an AU/MS that hasn't been cleaned. I did the chop mark ones.
I spoke with NGC this morning. With all the counterfeits coming out of China, they are very reluctant to assign "genuine" when there is any question. They told me I could return the Trade Dollar and they would look at it again and possibly put it in a holder. They have certified fakes before, and it must be embarrassing for them to have to pay for their mistakes. I once saw the statistics on what PCGS and NGC have to pay on a monthly basis to reimburse coin owners for problem certifications, and it is quite a bit of money.
I would understand why TPG'ers are hesitant about trade dollars. I have seen some pretty good fakes the last year or so. Even Asian markets, which used to have the really crappy fakes, now have better ones that even though I KNOW have to be fake, make me stop and look closely to be able to tell. Some I would be tempted to have my full range of equipment before I condemned it, like my scale, binocular microscope, high detail photos of authentic ones, etc. Scary, I am glad I bought mine 20 years ago. I am not sure why they would fake these more than others, except that maybe because so many US trade dollars circulated in China in the past they have more experience with them.
I would take them up on their offer. It's either Genuine or not. I think you paid for a " determination" in your first submission and it's unfair and poor business practice to leave you hanging in the wind this way.
Agreed. You paid them for their opinion, and they are punting. Did they return your money when they refused to give an opinion? I couldn't be hired to give an opinion on a company and then come back with, "well, I am really not sure" and leave it at that.
