New eBay policy on Coins sold for more than $500?

With the information available so far, I find that it could be a positive but it is unclear how certain scenarios will play out.

Pro:
~third party helps lower the number of returns
~protects buyers from fakes
~protects sellers from buyers switching an item (or sending an empty package) when returning

Con:
~extra time to get to the buyer
~extra trips in the mail (seller to center and then center to buyer), potentially doubling the chances of lost packages
~potential for authenticator to damage coin or slab
~free gifts to the buyer might be tossed
~no contemporary counterfeits (unless labeled as such?)....this will impact very few people so not much of a worry

Unclear:
~what happens with a coin that is genuine but the eBay photo was enhanced?...think toned coin or dmpl Morgan...does the authenticator fail it for not matching the in hand look (probably the better decision) or approve it as authentic and that prevents the buyer from returning it (not good)?
~what happens when a slab or coin is damaged at the authenticator? (does eBay compensate the buyer; does the seller have to refund; or is the buyer stuck with it?)

 

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Didn’t NGC offer a similar service for a short time? They would “authenticate” the coin based on just the listing images and description as I recall. Something like $5 per coin.

 

Oh gawd! Now it's going to take 2-3 months for delivery?

 

1-2 business days per the release for time spent at the authenticator; my guess is that they will meet that timeline in most cases but PCGS grading times will get even slower.

 

Ai:

 

A few folks at NGC ANCS or PCGS? thats a game changer for an overlord of the Internet, bout damn time. Does the buyer select the service?

 

For sports cards they use PSA (same parent company as PCGS). It’s a bit of a hassle but it does help when they buyer does not disclose serious issues with a card.

 

There are some people that prefer coins raw and in original mint sets. I'll be very upset if mint sets get torn apart because of this. If it is slabbed like the GSA morgan dollars, that is ok.

 

From what I see on eBay, most of the time counterfeit coins from China are selling well below that $500 mark. Counterfeit key date wheat cents for $30, counterfeit CC Morgans for $49, counterfeit ASEs for $27, etc., etc. I don't think it is going to help the biggest issues. It will only help those who have an expensive counterfeit in their collection accidentally.

On the bright side, I do think it may help all those "L on rim," "In Cod We Trust," and other stupid 'error' listings to disappear. That would be great.

I think it would help a lot more if they paid PCGS and NGC to scour the site and simply pull counterfeit coins from there.

 

Weird. The hair is AU, the cheek is 66 or better and the fields are MS-62 to AU-58. And it has a shield mintmark.

 

Close enough

 

That's actually the first really positive thing I've heard about this - at least I know it will actually be reputable experts. I'm worried what this might do for turnaround times though, unless PCGS is hiring every professional numismatist for a thousand miles around!

 

It’s been a horror show for sports. They have stopped taking value level submissions since June.

https://www.psacard.com/info/backlog-tracker

 

There should be no tearing apart of sets as raw coins get examined for authenticity and for accuracy compared to the listing. They are not graded. Also, sets are not eligible. This mean a proof or mint set would not go through the process.

 

Everybody is bashing eBay over this -- but the above seems like a pretty good procedure, no?

 

Not coins but my last purchases on ebay were an autographed jersey patch baseball card and an auto/patch NFL card. Both were under $500 and both were sent to ebay authentication despite being a Topps product authenticated by them. One I still haven't received weeks later. Not a fan of this. Can only imagine what that place looks like and another opportunity for something to get lost there or during the additional shipping it now takes.

 

It'll be interesting to see what transpires in the future. Hopefully it's a good system with minimal delays.