Concern over a Capitol Coin Grading Service coin

Discussion in 'US Coins Forum' started by PR70, Dec 6, 2004.

  1. GDJMSP

    GDJMSP Numismatist Moderator

    PR70 -

    Normally I wouldn't do this - and if I get flack from others for doing it then I get flack. And I'd like you to know up front - I am only trying to help you. But stop buying these high dollar coins from sellers such as these on ebay. As a matter of fact - don't buy them from anybody or in any slab.

    I'll be the first to admit that in order to learn about coins - you have to have coins in your hand. Of course you have to read some books first too - but when push comes to shove you can't really learn much without coins in your hand.

    So buy yourself some coins - buy yourself some nice coins slabbed by NGC, PCGS, ANACS & ICG - only them. But you don't need to spend hundreds of dollars on each coin to do that. You can spend $20 - $30 - $50 per coin and still have some very nice, high grade coins. And these coins will help you to learn about them.

    At the same time - participate in the coin forums and ask questions. And not just this one - visit them all. There are many nice folks out there who are more than willing to help you learn and answer any question you might have. And don't worry about asking what you think might be a stupid question. There's no such thing - except the one you don't ask.

    Please - don't take my comments the wrong way. I really am trying to help you do what is best for you.
     
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  3. satootoko

    satootoko Retired

    Second the motion! :)
     
  4. cdb1950

    cdb1950 Senior Member

    Experience is a good thing, and I'm sure everyone has been here before. PR70, I think you have made the right choice.
     
  5. tradernick

    tradernick Coin Hoarder

    Actually the seller can get the final value commission fees refunded by ebay just by filling out a form on the site. He can indicate that you two "mutually agree" not to complete the transaction. This way there's not a "strike"
    against you as a buyer. The only thing that won't be refunded in that case is the aptly named "insertion fee", which is a charge to sellers for listing their item, regardless of whether it sells or not.
    Hope this info is helpful
    Nick
     
  6. National dealer

    National dealer New Member

    Lincoln, while much of what you say makes sense, most of us that have been around have learned the hard way. Here on this forum, most of us are trying to save the new collector from having to learn the hard way. If we did not share our experience and knowledge, we would be doing a disservice to all who come with questions.
    There is nothing wrong with taking chances. However, you must have some experience and knowledge to make those chances work in your favor.
    A few here like GDJMSP, Jody, Roy, Nick, and Susan could run through Ebay snatching up true bargains easily due to their knowledge. They pass on the too good to be true deals, because they have learned that these deals are too good to be true.
    Finding coins that are of a good variety, or overlooked by the hobby itself are easy to find if you know what you are looking for. Coins that end up in "unknown" grading service slabs are there for a reason. If anyone with half a brain owned this particular coin, it would be in a slab from one of the 4 "good" grading services.
    Add that to the fact that this particular seller seems to pass along some shading deals, and this coin should be passed on.

    Go back and read the $30 experiment thread. That was a great chance. Little lost if wrong. Take chances on small coins. Learn all you can before jumping into the big deals.
     
  7. Prethen

    Prethen Senior Member

    The funny thing is that I've seen this exact coin (and holder) for sale on eBay a number of times. It hasn't successfully sold in the past. Something is fishy with that coin.
     
  8. PR70

    PR70 Junior Member

    The seller agreed to the mutual agreement and that issue is behind me. I received a call from the seller of the 1880 Proof Indian Head coin and it was confirmed that I received the wrong coin. They said that the one I will get is much better looking.

    I will take everyone's advice into consideration and although I may not follow it to the tee, I have learned that I will avoid the graders that are not in the big 4, and take price into consideration (ie, gauge it as a MS61-62 if it is listed as a MS65) if I see one that I like from them. I will also make sure that the picture is a quality example of the coin.

    I bought a PR69 DCAM Gold $5 piece last night that was PCGS slabbed, it is my first gold piece.

    I appreciate everyone's feedback.

    PR70
     
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