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Turns out I'm stupid...

Started by TD Henson,

16 posts in this topic

TD Henson

TD Henson

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Second part of what I'd hope would be a several part journal through certification.

 

The 1832 Capped Bust Half Dime arrived yesterday and I didn't even have a loop on it before I was disappointed. When will I ever learn that pictures hide soooo much?

 

First the coin has been lightly cleaned on the obv - as it is showing subtle hairlines, but enough to guarantee a details slab, which was enough to make this deal a loser.

 

Then the surface condition of this coin is deplorable and something given the angulation and distance of the original picture was incredibly not visible. The seller sold the coin as an MS 64, which I figured had to be high, but I had hoped for at least a 62. Given the surface condition I doubt this coin would garner more than an MS 60. The surfaces are so bad that I almost have myself talked into this coin being a cast counterfeit...

 

Bummer...

 

The good news is I'm returning it to sender for a refund. I guess the morale of the story is if you are going to be stupid and buy raw coins without having them in hand always check the return policy.

 

Today's pic the reverse of the 1832 half dime. Comments would be appreciated.

 

Todd

13022.JPG

 

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TD Henson

TD Henson

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Comments would be appreciated

 

See my comments in your other thread about this coin purchase. ;)

 

Mark,

 

Appreciate your comments. I never really expected the coin to be MS 64, but was hoping to maybe get an MS 62 out of it. However, I do agree with your assessment about trying to beat the odds. I resist most of these coins offered up, knowing this will likely be the outcome, but every once and awhile I've got to try only to get egg on my face... :blush:

 

Thanks again for the comments.

 

Todd

 

BTW - Great website - gorgeous coins and a very cool Collecting Tips page!

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MarkFeld

MarkFeld

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Comments would be appreciated

 

See my comments in your other thread about this coin purchase. ;)

 

Mark,

 

Appreciate your comments. I never really expected the coin to be MS 64, but was hoping to maybe get an MS 62 out of it. However, I do agree with your assessment about trying to beat the odds. I resist most of these coins offered up, knowing this will likely be the outcome, but every once and awhile I've got to try only to get egg on my face... :blush:

 

Thanks again for the comments.

 

Todd

 

BTW - Great website - gorgeous coins and a very cool Collecting Tips page!

 

Thank you, Todd - I appreciate that.

 

The good news is that at least you are able to return the coin and you sound as if you have a good grasp of grading.

 

Sadly, I have seen countless buyers who are clueless about grading and buy coins, figuring that even if over-graded, they are getting a good deal. In fact, they are badly over-paying for problem and/or significantly over-graded coins. And they don't find out until much later, if ever.

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Ultra Cameo Collection

Ultra Cameo Collection

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I would have asked if the seller would pay to get it graded. You may be wrong and it could come back as a MS62. I know of a dealer near me that has an early proof half cent that they want about 4k for but are unwilling to allow me to pay to get it graded before I buy it.

 

I offered to pay the full fees to get it graded to make sure it is at least PF62 BN. They claim it to be PF64 BN. They stated that they do not grade coins. A little paperwork would suffice to allow me to send it in. Some dealers are unwilling to work to make a deal happen. That coin has been for sale for at least 5 years and they haven't sold it.

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TD Henson

TD Henson

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I would have asked if the seller would pay to get it graded. You may be wrong and it could come back as a MS62. I know of a dealer near me that has an early proof half cent that they want about 4k for but are unwilling to allow me to pay to get it graded before I buy it.

 

I offered to pay the full fees to get it graded to make sure it is at least PF62 BN. They claim it to be PF64 BN. They stated that they do not grade coins. A little paperwork would suffice to allow me to send it in. Some dealers are unwilling to work to make a deal happen. That coin has been for sale for at least 5 years and they haven't sold it.

 

This would have been a preferrable plan, but the seller stated that no returns if removed from original holder, which he went on to say meant don't send it to 3rd party TPG and expect a refund. Perhaps this should have been my clue to pass...

 

Thanks for the idea though. I'm also 100% sure that NGC would of Details graded this coin due to hairlines on the obverse and I'm 90% sure the coin has been dipped due to some "dirty" areas in the pitting.

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coinsbygary

coinsbygary

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Todd

I have followed your journey with interest and I want to thank you for sharing your experience with us in the hope that we won't have a similar experience. Truth be told, none of us can say that every one of our coin acquisitions have been what we would like. However, the important thing in all this is that we learn from our mistakes to become more discriminating in our future buying decisions. As an aside, your Roosevelt Dime collection is awesome and your eye for finding top rate raw Roosevelt Dimes is exceptional. That dime set of yours is a very nice set. All the best.

Gary

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MarkFeld

MarkFeld

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I would have asked if the seller would pay to get it graded. You may be wrong and it could come back as a MS62. I know of a dealer near me that has an early proof half cent that they want about 4k for but are unwilling to allow me to pay to get it graded before I buy it.

 

I offered to pay the full fees to get it graded to make sure it is at least PF62 BN. They claim it to be PF64 BN. They stated that they do not grade coins. A little paperwork would suffice to allow me to send it in. Some dealers are unwilling to work to make a deal happen. That coin has been for sale for at least 5 years and they haven't sold it.

 

This would have been a preferrable plan, but the seller stated that no returns if removed from original holder, which he went on to say meant don't send it to 3rd party TPG and expect a refund. Perhaps this should have been my clue to pass...

 

Thanks for the idea though. I'm also 100% sure that NGC would of Details graded this coin due to hairlines on the obverse and I'm 90% sure the coin has been dipped due to some "dirty" areas in the pitting.

 

The coin looks to be an AU example which has been cleaned. I agree that it would have received a details grade, only.

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TD Henson

TD Henson

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Todd

I have followed your journey with interest and I want to thank you for sharing your experience with us in the hope that we won't have a similar experience. Truth be told, none of us can say that every one of our coin acquisitions have been what we would like. However, the important thing in all this is that we learn from our mistakes to become more discriminating in our future buying decisions. As an aside, your Roosevelt Dime collection is awesome and your eye for finding top rate raw Roosevelt Dimes is exceptional. That dime set of yours is a very nice set. All the best.

Gary

 

Gary -

 

Thanks! I appreciate the kind words and encouragement. I've been able to learn so much from others on this forum that I enjoy giving back even when the experience was bad. Learn from our mistakes and gain more knowledge.

 

Todd

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TD Henson

TD Henson

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[quote=

 

The coin looks to be an AU example which has been cleaned. I agree that it would have received a details grade, only.

 

Mark,

 

Thanks for the comments and expert opinion on this coin.

 

Todd

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