TPG Verifications in Face to Face Transactions

Discussion in 'Coin Chat' started by Randy Abercrombie, Feb 23, 2020.

  1. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    There is a very good thread going on in the US Coins section that concerns the proliferation of bogus TPG slabs. It brings to mind a question that troubles me. More a question of ethics, really.

    I am a rabid hobbyist and not nearly as numismatically educated as most here. Being older with a little more disposable income, I tend to purchase better coins. The TPG verification tools are extremely helpful to me particularly if I am buying from an unfamiliar source. It is the face to face transactions that trouble me a bit. When I am walking the floor of a show and am interested in a dealers coin. Six other folks are awaiting that dealers attention at the same time. Is it in poor taste to pull up the TPG verification tool? I am reasonably seasoned enough to detect a problem, but the counterfeiters are getting better. And thing is, I don’t know the man whose coin I am interested in at a show or at an unfamiliar shop.

    Is it unheard of to do TPG verifications when dealing face to face with someone you don’t know?
     
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  3. Inspector43

    Inspector43 Celebrating 75 Years Active Collecting Supporter

    I personally think if you are disposing of income, you should use what ever tools you have commensurate with the potential purchase value. But, I don't buy slabbed coins and don't understand the verification tool you speak of.
     
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  4. okbustchaser

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

    If you have already made a buying decision pending verification of the slab then I don't think there should be any problem with you checking with PCGS/NGC.

    As a customer waiting in line I might get a little frustrated if you wanted to check 4 or 5 coins and then only wanted to buy 1 of them.
     
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  5. GDJMSP

    GDJMSP Numismatist Moderator

    Randy I'd say you have every right to do that. In fact, given today's world, I'd say a man would be a fool if he didn't do it.

    That said, every dealer there is, anybody who sells a coin for that matter, is required by law to refund your money IF they sell you a coin that you can prove is a counterfeit.
     
  6. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Presumably, you are writing mostly about relatively expensive coins, for which certification was justifiable in the first place. All dealers are different but, for me, justification for slabbing generally starts with coins priced at $300 on up. That being my assumption, I say yes, it is fine for you to take the extra time to verify the cert for the coin being considered. However, I would caution readers against standing in the way of the dealer's other potential customers to check for certs on a fistful of $50 coins. That would be inconsiderate. There's no reason one cannot take down the serial numbers and step aside to check the certs while other people look at that dealer's coins.
     
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  7. baseball21

    baseball21 Well-Known Member

    If you have doubts, you can always step away/to the side and do it and come back if they really are that busy.
     
  8. Publius2

    Publius2 Well-Known Member

    When I'm at a show, I routinely make a sweep and take notes on coins I'm interested in, including TPG serial numbers and anything else I might need to make a decision. That information often includes the slab serial number. Then I go off and do some research and if I'm still interested I'll go back and buy it or negotiate as appropriate. That way, I don't take up the dealer's time, obstruct other customers, and keep my research or uncertainty to myself.

    Other than obstructing a dealer's other customers, a dealer should have no reason to object to you verifying a serial number. If he does, you might want to reconsider doing business with him.
     
  9. Conder101

    Conder101 Numismatist

    There is no problem pulling out a price guide, there is no problem pulling out a variety reference, why should there be a problem checking the verification site? If the dealer does have a problem with you checking to make sure his slabbed coin is legitimate you have to wonder if he has something to hide.
     
  10. Inspector43

    Inspector43 Celebrating 75 Years Active Collecting Supporter

    I don't care much for coin shows anymore. Too many people bumper to bumper.
     
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  11. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I am that way. My wife goes looney at Christmas time. She loves being in those crowds. I steadfastly refuse. I should have been a professional hermit..... However, the occasional hustle and bustle of a well attended coin show can get my blood flowing.
     
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  12. geekpryde

    geekpryde Husband and Father Moderator

    What I do at shows is just quickly ask the dealer if he's fine with me taking a photo of the slab, that way you can very quickly take a picture of the coin, and get out of the way. Then research previous auction records, TPG cert look up, and any other research you want to do at your own pace, sitting comfortably nearby. It's better for the dealer and it's less stressful for you, making for better decisions. You can even compare a few coins that you have taken cell phone photos of that are competing for your money, without having to make the rounds again back to each table. keep in mind I'm talking about just quick snapshot photos to get the basics of what the coin is, a cert number, the grade, variety, toning, etc, so I break all the normal rules about good coin photography. Honestly I normally don't even take the photo of the reverse, but each snap only takes a couple of seconds so if it's a high value coin I would do that too.

    I haven't done this a ton of times but I've also never had a dealer say NO either. If a dealer did say no, that would be a deal breaker for me right then and there anyway.

    A cell phone photo is going to be faster than handwriting down the cert number, I'm surprise not everyone does this.
     
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  13. Inspector43

    Inspector43 Celebrating 75 Years Active Collecting Supporter

    I took my wife to a gun show some time back. In the same building was an antique show. She drug me in there - I do like antique shows. She put her name in for the door prize and won a cup, saucer and small plate from the 18th Century. Value over $600. I can't find that combination of shows or we could spend some together time.
     
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