Thinking I just got a nice deal on this graded ASE???

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=230687717667

Being graded it seemed like a **** of a deal to me, I have been paying $35-36 for ungraded lately, what do you think, good deal?

 

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I'd hate to disappoint you, but it seems a bit sketchy to me. It said that the coin pictured is what you'll receive, but he also states that it comes in an Airtite, not slabbed.

 

Hmmmm, seemed a little to good to be true, oh well, I am new to all this so something to look for next time

 

Silver at $31.27 value of 2008 $32. I paid $38 for a 2001. No profit. Sorry.

 

slabs are airtight... I think you will recieve it in the NGC holder...

 

So this is a bullion ASE that just gets graded Gem Unc ? Not MS65, MS66, MS67, MS69, MS70 ????

 

That is false adverstising if you asked me. Whether he states what item you receive it is still a form of desciption by showing a picture of something else. I would ask for a full refund then I would report him.

 

I think you did GREAT!

If you look at it as an investment, well you probably didn't get a profit (yet) but if you look at it at a collectors point of view, then you did awesome! Congrats!

 

Let us know if it comes in the NGC slab or not. He may be using the term "airtite" to mean a plastic slab (NGC). I know it is also a trademark of a brand of plastic coin holder, but you will have to wait until you get it in hand to see if it was an honest auction or not. If it comes in the slab shown (which you can verify by looking at the certification number above the bar code when you got it) then I think you got a nice deal.

Don't panic based on what some people say here. Wait until you get it and see what it looks like and if it's the same one as shown in the auction. The feedback of the seller makes me think that you will get exactly what it looks like.

:thumb:

 

How is it false advertising? The guy has 100% feedback, all positive descriptions stating that the coin received was exactly as pictured, etc. He may just be using the term "airtite" to refer to that fact that the coin is in a plastic slab. He didn't say "Airtite(R) Brand" holder. I think you are too rash in your judgement.

 

Can anyone elaborate on this point? Could this be a fake grade all together? Seems like a legit seller w/ 300+ positives with tons of ASE sales, not sure why he would do that

 

Will definitely let you guys know what I get, thanks for all the perspectives!

 

A lot of folks (dealers) do bulk submissions to NGC where all they're looking for is an "uncirculated" designation. It's cheaper than getting a numerical grade........

 

When you send coins to NGC, you can specify a minimum grade you want on a coin. If it doesn't make that grade, they will still put it in plastic but with a label like "Gem Uncirculated" or "Brilliant Uncirculated". My guess is that whoever submitted that coin submitted a LOT at one time, and likely specified a minimum grade of MS69. This one may be an MS68, but because they specified a higher grade, then it just got the label "Gem Uncirculated". This coin was submitted in a large order, as you can see from the last 3 digits of the certification number. When you submit to NGC, the first 7 digits of the certification number is the invoice number (think of an invoice as an "order") and the last 3 digits are the coin number within that invoice (incrementing from 001 and upward). This coin is coin number 210 on the invoice, so I'm pretty sure it was a mass submission.

By the way, the certification number checks out just fine on the NGC website checker.

http://www.ngccoin.com/certlookup/CertResults.aspx?CertNumber=3199921-210

My guess is that you will get EXACTLY the coin pictured, and it will be beautiful. So, don't worry too much until you get it in hand.

 

More than likely it came from a bulk submission where BU or Gem was requested instead of an actual numerical grade.

 

judging by the seller's feedback,I wouldn't worry.

 

It is a bulk submission grade, made for special sales or promotions. Theoretically a gem should be between 65-70, but I suspect they just came out of mint tubes and a 5 second glance to see if there was a scratch or ding before slabbing. Often combined with a "first issue" or some phrase for the addicted to buy right away.

Basically, it is just an ounce of silver in a plastic holder just like the average raw ones available form the dealer's tube. IMO.

Jim

 

Forget what I just posted. BRG's explanation is way better......

 

There are certified bullion coins, and there's mass slabbed bullion coins. Personally, I don't think either are worth a premium over melt, but to each his own.

They ALL come from the Mint in MS-67+, so having one gem uncirculated is like having one in a nice holder. It does nothing for value, but it looks nice and protects the coin.

Some day people will realize that there are so many of these bullion coins that even if millions of people start collecting them, there will be no shortage of them to buy.

 

Hi all -

Got the coin in today and totally legit, slabbed and numbers matched, overall happy!