Unfortuantely Story. Don't let this happen to you.

Since the dealer doesn't want to own up to the "error", I think the only recourse is legal action. At the worst he may lose his coin, but he already has. At best, he could be made whole monetarily. I don't know what his state's limits are for Small Claims Court actions but that is probably a better (i.e., cheaper and faster) course of action that a full-fledged lawsuit in County or State court.

 

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unfort.........................

............the character on the X-files program said it best........TRUST NO ONE!!!

 

If my memory serves me right it was NGC. He said the PCGS one were to thin and cracked to easily when opening them. Also, had some luck with other ones.

 

I doubt that any ethics provisions would stop a dealer from joining. I've been going to 2 to 4 coin shows a month for many, many years and very few are members of ANA. Nothing to do with ethics, rules, provisions, etc. Just mostly small dealers that do it for a side job or just work out of their homes. Even the few dealers there from coin stores don't brag about being members. In fact I only know one dealer that makes it known he is a member of the ANA. I would think the reasons they don't join is just not interested.

 

OK, happy ending to the story....I hope. Found out today from a buddy of mine that belongs to the coin club with me that he received a call from this dealer. Apparently, he wanted to buy his 1893S Morgan off of him so he could pay back this guy for the fake one he bought. Now although his 93S isn't slabbed, he says he brought it by one of the TPG tables at one of the large shows and had it authenticated. So at the next club meeting this Tuesday, I am going to tell him to send it in to one of the TPGs and get it slabbed. All's well, that ends well..... I guess.

 

If you buy a key or rare coin, always buy it certified by PCGS or NGC and through a dealer that is a member of the PNG.