Well I did it. A few years ago I bought a 1927p dime from one of these guys. I'm not a dime collector, but I wanted a nice Mercury. The cardboard had MS written on it. I put it in my box and never looked at it again. This morning I took it out of the holder and put it in a flip and took it back to where i bought it. I asked him to grade it for me, and it wasn't for sale. He spent about a half a second looking at it, and graded it "very fine---ebay AU". I asked him to explain to me the grade. He explained about the wear and a scratch on the obverse. He never offered me his loupe so I could see for myself. I told the guy I bought it from ebay, and it was listed as uncirculated. He went into a rant about buying from ebay. He also told me that he would give me melt for it if I wanted to sell it. I'm PO'ed. I paid around forty bucks from the same guy that offered me melt. I looked at it when I got home. It looks like a nice coin to me. I saw no scratch on the coin. I don't think I got ripped off. I honestly think it's an MS dime. You would think that me being a twenty year customer would amount to something.
I am sorry for your disappointment Pilkenton. It sucks when we see that a relationship of many years is valueless to someone. That said, This should demonstrate exactly why you don't take people's word for grades and learn to do it yourself. There is much good advice offered in this thread, but what I will say are the two most important things are: 1) Read everything that you can. 2) Look at thousands of coins. You will never be able to tell subtle differences on coins until you have the details etched into your brain indelibly. LOL This is the only thing that separates the good graders from the scholars, practice.
@Pilkenton......That really sucks......it would have taken the good grace of the Lord for me not to rip that dealer a new one if I were in Your shoes. But, on the bright side.....at least now You know what type of person You`re dealing with....better late than never.
Everyone should do this with any dealer they deal with. You are much better off knowing exactly how someone is going to treat you! As an informed buyer/seller you have a much better chance of getting a fair deal. What's more important, your feelings or understanding how to get the most for your money? I would not have said anything to the dealer as now you know that he probably sells high and buys low. I am sure in his mind he is justified because it is a business to him and he wants to make as much money as he can to keep it going. Collectors should treat these transactions the same. Make sure to learn how to grade and if your are going to buy raw coins, make sure you are not paying for an inaccurate grade. If there is enough money involved, agree on a minimum grade and have the dealer get it graded. Then pay for the coin at the graded value with the additional grading costs. Dealer will not be as tempted to try to sell you a AU coin at an MS grade. There are two parties to any transaction and both have a certain responsibility to protect their interests.
