I recently got a mailer for a local auction that has about 1,100 coins, among other things like stuffed deer heads and a six foot tall rooster. But what I noticed was the listing of coins, and at the bottom of that list it stated "All coins and bullion guaranteed authentic." Now I have to wonder if anyone else here has seen such claims. And did they actually go through the 300 Mercs to check them? I have been to this auction house before (a life-size bronze bull went for $18,000) and didn't see anything wrong with the coins, but I never expected them to say all their coins were guaranteed authentic. Would you trust that claim?
Why would you not expect that? Basically everyone from collector sellers to dealers to auction houses make that claim or will tell you that.
The first question I would ask, is "Guaranteed by whom?" Any faker can "guarantee" their wares. So many have been caught in marketing stuff as "genuine" that they KNEW was fake , especially in areas such as autographs and such, that it boggles the mind.
I'd trust it until so have a reason not to but my suspicions would be up. When I see a claim like that I always ask myself, why?
That is a point. Who guarantees the coins are authentic? The people the auction house got them from? The ability to spot fakes is what is needed. And I could ask the people running it if they stand by their guarantees. Are they relying on the word of others? But have you ever heard of any auction house making such a claim?
I assume their "guarantee of authenticity" is less "we swear by our firstborn that everything is authentic", and more "if you find proof something isn't authentic, we'll give you your money back".
Ask Heritage or Legend or Stacks or GC if they guarantee their things authentic. Obviously their word means more overall but it is a very standard statement
If it's not in writing then it doesn't exist. What if they told you everything you wanted to hear? Sounds good. You have their word. You buy what you wanted and after receiving you send it to a TPG. The TPG grades it and sends it back to you. You're all excited and you rip into the package like a 5 year old only to discover that the coin you wanted and purchased with a quarantine is returned from the TPG as a fake, a counterfeit. You contact the auction house and find out they won't take the coin back and refund your money. What do you do then? You do not have it in writing so that quarantine does not exist.
I have never had this experience with a dealer (at least, not yet), but even with the "guarantee" in writing I'm assuming that, after purchasing something, the burden of proof is on you to prove that something is fake. The dealer may not agree or choose not to agree. Obviously, that wouldn't make for good ongoing business relationships, but depending on the cost of the purchase you may find that the "guarantee" has some loopholes.
I think if that "six foot tall rooster" proves to be authentic, then one could rest assured that all of their coins are the real deal.
I think it's just their way of saying they will refund your money if you doubt authenticity. Just my guess.
Pretty much what everyone else stated. You can't help being a bit skeptical when they trot out words like "authentic" and "guaranteed" . Sort of like those motels that used to have big flashing lights on their signage that read "CLEAN ROOMS". Would you pull right into their lot........or would you mozy on down the road in search of a more appealing place to stay? Especially when it comes to these type of auctions, it's a mine field out there. What looks enticing on the surface, many times proves otherwise once you pop the hood. We just need to do our homework the best we can.
I suspect it's nothing more than a generic authentic guarantee. Probably someone grabbed a handful of the coins, thought they looked ok and now they're ready to sell. If you go, inspect the coins for yourself. That's the best bet if you know what to look for.
Actually, if I did find out later that a coin I bought was a fake, I'd probably taken is as a lesson learned and the money spent as tuition to the school of experience. And I'd keep the coin for comparison. Or sell it on ebay!
Pretty much everybody. But then that's because there is a specific law that states that you have to guarantee authenticity because title cannot be passed on items that are fake but sold as being genuine. In other words, any coin you buy from anybody as being a genuine coin, if it turns out to be a fake they have to refund your money, by law.
