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Authenticity vs. Statute of Limitations
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<p>[QUOTE="GDJMSP, post: 48675, member: 112"]Well, first of all the article isn't relative to slabbed coins or the guarantee issued by the grading companies. The guarantee issued by the grading companies is separate and beyond what this article deals with. Slabbed coins aren't even mentioned. </p><p><br /></p><p>The article states - " The Uniform Commercial Code implies into every sale of collectibles a warranty from every sale that the goods are merchantable, i.e; authentic. " The article further states that dealers can disclaim this warranty if they do so in writing. </p><p><br /></p><p>Then the article goes on to say that this warranty implied by the UCC is only good for 4 years. And that is because within a 4 year time frame the buyer should be able to determine if the item in question is authentic or not. </p><p><br /></p><p>The grading companies issue their guarantees over and above the UCC. There is no time limit and the guarantee does not expire. Neither does the guarantee only apply to the original buyer. It applies to the coin regardless of who owns it or how many times it has been sold.</p><p><br /></p><p>The real key here is that this 4 year staute of limitations only pertains to the warranty implied by the UCC. It has absolutely nothing to do with the waranty or guarantee that is voluntarily issued by the grading companies.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 48675, member: 112"]Well, first of all the article isn't relative to slabbed coins or the guarantee issued by the grading companies. The guarantee issued by the grading companies is separate and beyond what this article deals with. Slabbed coins aren't even mentioned. The article states - " The Uniform Commercial Code implies into every sale of collectibles a warranty from every sale that the goods are merchantable, i.e; authentic. " The article further states that dealers can disclaim this warranty if they do so in writing. Then the article goes on to say that this warranty implied by the UCC is only good for 4 years. And that is because within a 4 year time frame the buyer should be able to determine if the item in question is authentic or not. The grading companies issue their guarantees over and above the UCC. There is no time limit and the guarantee does not expire. Neither does the guarantee only apply to the original buyer. It applies to the coin regardless of who owns it or how many times it has been sold. The real key here is that this 4 year staute of limitations only pertains to the warranty implied by the UCC. It has absolutely nothing to do with the waranty or guarantee that is voluntarily issued by the grading companies.[/QUOTE]
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