Does anyone know about....

Hello all, does anyone know how safe it is to buy from Great Southern Coins ? A friend of mine purchased 2 raw $2.5 dollar gold Indian coins from them. I was wondering if they could be trusted, or should he be worried about the authenticity of them. I don't have pics yet, was only asking if anyone else has dealt with them previously, or know of them. I see that they are highly rated, and sell many coins, but you never know. Please let me know your thoughts on them. Thanks in advance.

 

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Shady deceptive folks.......not as to authenticity, but to grade and condition. Their photos are juiced. Run, Forest.....run.

 

Read this thread.
https://www.cointalk.com/threads/great-southern-coin-gsc-joke-of-the-day.281764/

 

I don't think you need to worry about authenticity, however I would be VERY concerned about the actual grade that, say, a reputable TPG would assign.

 

I would not trust them in any way. Have the coins checked. They will take them back if they are fake.

 

I don't believe they would deliberately sell fakes, and they willingly accept returns. It is, however, highly unlikely that they're in the condition represented and reasonably certain that your friend overpaid.

 

Thanks, I'll let him know that they should at least be authentic, and see if we can post some pics soon. I'm not sure of the grades that they were supposed to be, but with your help, I have no doubt that we can assign the correct grade for both coins. Thanks again, you guys Rock. To be cont..... soon as possible..
P.S. I told him before not to buy from eBay, that there are better places to buy, but .....

 

There is a suspicion that many of their raw offerings have been cracked out of "details" slabs.

 

I agree. They would probably not sell fakes deliberately but I don't think they are good enough to spot them.

 

As much as we've heard about them over the years, I don't recall a single incident of a counterfeit being passed off. They first showed up on my radar just after Katrina; I was thinking at the time that they'd acquired flood-damaged collections and were liquidating them. The coins certainly looked the role. In the years since, they've become quite adept at presenting coins in the best-possible light (they weren't back then), and I would not be surprised if today they're the country's largest buyer of "problem" coins. The linkages between their raw offerings and coins in problem slabs (via photographic evidence) are too numerous to count.

Frankly, I've the impression that they're a pretty sharp bunch.

 

So, you are implying that they know what they are doing and, we can accept the fact that, they, sell problem coins, its their reputation.
For one, with the help of my fellow CTers, called a bunch of fakes within last week. (Pawn shops) and found that it doesn't matter if they sell fakes.
Yes, a few questions into the conversation (with a few diff mangers)
I only found one, that, if he got a return with (fake, copy etc.) that he would resale it as a "Copy" for the price of metal weight in it.
This is an example of know what you are buying folks!
It is up to you, to know.
If I didn't say" Happy Thanksgiving Ya'll"
Happy Thanksgiving

 

I've gotten some great coins from them, and always bid on their Indians, for what its worth.

 

Nothing wrong with buying from ebay, and as much as we all complain about them you won't find anywhere with a wider selection of offerings. That said things that look too good to be true generally are. It's pretty easy to avoid the traps if you just think why isn't this graded when presented to look pretty pristine and valuable.

 

Good point.

 

Nothing wrong with eBay if you use common sense. Like Baseball said, if it's too good to be true, it likely is. I have a list of reliable dealers I trade with and have been quite happy.

Three things for me that might help:
-- I do not buy raw coins on eBay, with the exception of one dealer who is super-reliable.

-- I approach with high caution any dealer whose primary business doesn't seem to be coins -- with one notable exception.

-- If I find a coin and the eBay dealer also has his own site, I check to see if the coin is on the dealer site. It's often cheaper there.

 

They don't (intentionally) sell fakes and they are good about returns. This is why their overall ebay dealer rating is pretty solid.

That is the only good thing I can say about them. Wait...one more thing...they always put a bold logo in their images so it's easy to skip past their coins when browsing.
Lance.

 

I purchased from them one time, it was the last time! I think that should sum it up....