Where does GSC get their coins from?

I don't know where they get their coins, but they definitely let some valuable coins slip through. Someone there probably got fired. *Cough 1909 VDB Matte Proof Cough*

https://www.cointalk.com/threads/ebay-still-a-cherrypickers-paradise-2017.290909/

 

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That's not a matte proof. It was a PCGS clerical error.

 

Contemplate what this says about many dealers, given that they're knowingly complicit in the process of cracking and reselling problem-slabbed coins presented as original.

 

Granted some probably do it themselves, but what are they really supposed to do make people sign a contract saying the details coin will never be cracked out?

 

Not at all, but they knowingly support a seller who uses deceptive sales practices simply because it allows them to dump their problem coins. The shady side of numismatics runs far deeper than we might think.

 

I'm not the least bit surprised. I honestly don't blame them, it's a way to sell and ultimately the deception is the blame of the person doing it. I'm probably to jaded but I am always more surprised that people are surprised at stuff like that

 

Something about doing unto others as you would have them do unto you..

 

GSC, TV sellers and big outfits that price gouge. They all fit into the same sorry bolt of cloth.

 

It's exacerbated by the fact that one's opinion of coins offered online is wholly dependent upon the quality and character of the images offered, and few are better-qualified to understand better than I just how radically you can alter the appearance of a coin either by subtle manipulation of the photograpic circumstances or in postprocessing. These people deliberately spin the character of their imaging to emphasize the virtues of their coins, and minimize the faults, to take deliberate advantage of the less-sophisticated understanding of their buying audience who don't know how radically simple lighting regimen can alter the character of the resulting image, and profit more greatly than a more nuanced, honest evaluation of the coin should produce.

Blame them.

 

They get their coins the same place anyone gets them...from people seeking to sell them.

For all of you who jump on dealers for selling GSC less than perfect coins, a question. Are you planning on being buried with any problem coins which you may own? Or are you (or your heirs) going to sell them to someone else?

 

They won't be sold as non-problem coins, disguised by clever photos, you can be assured.

 

Just to clarify I was meaning that I don't blame the sellers selling the coins that may ultimately end up cracked out by someone else.

 

And if collectors are making buying decisions based on "clever photos" rather than examining the coin in hand then, "Sorry, no sympathy. Better luck next time."

 

On the flip side there a few dealers who specialize in problem coins as they have clientele looking for better dates at reduced prices.

 

Nothing wrong with buying online based off photos, but when it comes to online people should be asking themselves "why isn't this slabbed?" for valuable coins

 

If one buys "sight unseen" slabbed coins they are doing themselves the same disservice. There is a reason the sheets price sight unseen coins at a strong discount to sight seen coins. If one wishes to purchase valuable coins this way then more power to them, but if one gets stuck then IMO "Tough nougies!"

And no, online pictures--regardless of quality--have nothing to do with whether a sale is "sight seen" or "sight unseen".

 

Well, that's a new one to me. I've bought a problem coin or two (with them clearly indicating what they are), but I've never heard of a dealer specializing in this kind of thing.

 

There's a couple on eBay that overwhelmingly deal in them and they're slabbed and upfront.

 

That's not really true, granted learning how to interpret pictures is a skill and saying definitively something is this grade from a single picture alone is silly. That said online purchasing is the bulk of coin purchases now and in the future it will continue to grow larger.

And yes sight unseen prices are super low because it is assumed those are the bottom of the grade coins. Everyone knows top end ones would be touted and displayed for the premium they bring

 

Once again, looking at a picture--REGARDLESS OF QUALITY--has absolutely nothing to do with buying sight seen or unseen. Nor does the fact that it was purchased online rather than from a local shop. If one has the option of seeing the coin in hand before making a final buying decision (in other words there is a reasonable return option) then it is a sight seen purchase and the responsibility of the buyer to determine for himself if it is a problem coin or not.