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Is the slabbing of coins a fools paradise?
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<p>[QUOTE="Troodon, post: 3978577, member: 4626"]On one hand, I wish sellers were more honest, yes, but on the other, buyers should do basic research and educate themselves before they spend money on coins (or anything else for that matter). I'm not a fan of TPGs in general but even I can't say that they're the problem here. NGC honestly and competently authenticated the coin, identified it, and gave it a grade; that's all they're responsible for doing.</p><p><br /></p><p>There's a non-zero chance that the seller honestly doesn't know what the value is or is just being unrealistically optimistic. Just because they're asking that price doesn't mean they'll ever get it. I see plenty of similarly ridiculously overpriced items on eBay and I have to think it's unlikely they ever sell for what they're asking.</p><p><br /></p><p>In the end I have to reject the premise that "eBay sellers (are) abusing 'slabbed' coins." They're attempting (but definitely not always succeeding) at abusing potential buyers' lack of knowledge. I think they are wrong for doing so, but if buyers take it upon themselves to educate themselves about what they buy, then such sellers won't be able to get away with it. Coveat emptor (may the buyer beware).[/QUOTE]</p><p><br /></p>
[QUOTE="Troodon, post: 3978577, member: 4626"]On one hand, I wish sellers were more honest, yes, but on the other, buyers should do basic research and educate themselves before they spend money on coins (or anything else for that matter). I'm not a fan of TPGs in general but even I can't say that they're the problem here. NGC honestly and competently authenticated the coin, identified it, and gave it a grade; that's all they're responsible for doing. There's a non-zero chance that the seller honestly doesn't know what the value is or is just being unrealistically optimistic. Just because they're asking that price doesn't mean they'll ever get it. I see plenty of similarly ridiculously overpriced items on eBay and I have to think it's unlikely they ever sell for what they're asking. In the end I have to reject the premise that "eBay sellers (are) abusing 'slabbed' coins." They're attempting (but definitely not always succeeding) at abusing potential buyers' lack of knowledge. I think they are wrong for doing so, but if buyers take it upon themselves to educate themselves about what they buy, then such sellers won't be able to get away with it. Coveat emptor (may the buyer beware).[/QUOTE]
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