The sight unseen market

Discussion in 'US Coins Forum' started by TypeCoin971793, Jul 21, 2019.

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  1. micbraun

    micbraun coindiccted

    A coin with a CAC sticker was inspected by a TPG and CAC and they both guarantee authenticity and grade - at least if it’s problem-free. Now with two parties having seen the coin, it makes more sense to only rely on “the plastic”.
     
    micbraun, Jul 25, 2019
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  3. Kentucky

    Kentucky Supporter! Supporter

    You've already posted them in your own thread, why drop it into an unrelated thread?
     
    Last edited: Jul 25, 2019
    Kentucky, Jul 25, 2019
    #42 + Quote Reply
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  4. okbustchaser

    okbustchaser I may be old but I still appreciate a pretty bust Supporter

    Could you see the coin before you committed to purchasing it? Yes, on Teletrade you could--albeit with a penalty. After receiving the coin you could look at it in hand and decide whether to either finalize the purchase or to return it. It was a "sight seen" purchase.

    In a "sight unseen" purchase you are doing exactly that...you are committing to purchase the coin without seeing it. You have no recourse if after you receive it you don't like it. That's EXACTLY WHY the "sight unseen" market price is lower than the "sight seen" market.
     
    okbustchaser, Jul 25, 2019
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  5. Paul M.

    Paul M. Well-Known Member

    No, that's a sight unseen purchase with a return option.

    Correct. Just like 99.9% of internet purchases, where you get to see, at best, a photo, before you commit to purchasing.

    Again, correct, if and only if there is no return privilege offered. Sight unseen vs sight seen and return privilege vs no returns are independent of each other. With or without photo are also independent of these things, except that it's probably silly to offer a photo in the case you get to actually see the coin.

    Yes, that's why the "sight unseen without photo" market price is lower than the "sight seen" price or the "sight seen with photo" price.
     
    Paul M., Jul 25, 2019
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  6. okbustchaser

    okbustchaser I may be old but I still appreciate a pretty bust Supporter

     
    okbustchaser, Jul 25, 2019
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  7. Paul M.

    Paul M. Well-Known Member

    Sight seen purchase: You get to see what you buy before you lay down money.
    Sight unseen purchase: Not sight seen.

    Do you buy many photos of coins? I don't.
     
    Paul M., Jul 25, 2019
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  8. okbustchaser

    okbustchaser I may be old but I still appreciate a pretty bust Supporter

    You finally got it. Nothing to do with photos...nothing to do with where you buy them. You see the coin before you finalize the purchase, or you don't.

    No, I don't buy photos. I buy coins after I see them in hand. Photos do serve a purpose. They help me winnow out the ones which I have no desire to look at.
     
    okbustchaser, Jul 25, 2019
    #47 + Quote Reply
  9. GDJMSP

    GDJMSP Numismatist Moderator

    The definition of "sight seen" is extremely simple - it means seen in hand !

    The definition of "sight unseen" is also extremely simple - it means not seen in hand !

    Pictures of coins have nothing to do with either one of them. Looking at pictures does not count. If you look at a picture of a coin, that coin is and remains sight unseen until you get to look at it in hand.

    Now if one's personal definition differs from that, that's on you. But those ARE the definitions. Even on the electronic dealer markets those are the established and accepted definitions of the two terms.
     
    GDJMSP, Jul 26, 2019
    #48 + Quote Reply
  10. Ike Skywalker

    Ike Skywalker Well-Known Member

    Abso-frickin’-lutely.
     
    Ike Skywalker, Jul 26, 2019
    #49 + Quote Reply
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