POLISHED COINS

[ski]

For me anyhow....polished coins are just that...coins that have been polished.

so why polish? well were well into the ebay era, and of course ebay is all about coning some poor bastard out of their money.

polishing allows those who do not know anything about coin grading, to make a coin look better to those gullible souls who do not know anything about coin grading, seem like a very nice purchase.

check this out......http://www.ebay.co.uk/itm/1888-QUEEN-VICTORIA-DOUBLE-FLORIN-/251052113898?pt=UK_Coins_BritishMilled_RL&hash=item3a73df3fea what a piece of shit, and yet some poor unsuspecting soul will buy thinking they have bought a real piece of numismatic treasure...........ebay, and ebay sellers like this, do no good to the long term good of coin collecting.

you can keep your polished coins, theyre polished to hide grade and to con the innocent.

[Nick]

For me anyhow....polished coins are just that...coins that have been polished.

so why polish? well were well into the ebay era, and of course ebay is all about coning some poor bastard out of their money.

polishing allows those who do not know anything about coin grading, to make a coin look better to those gullible souls who do not know anything about coin grading, seem like a very nice purchase.

check this out......http://www.ebay.co.uk/itm/1888-QUEEN-VICTORIA-DOUBLE-FLORIN-/251052113898?pt=UK_Coins_BritishMilled_RL&hash=item3a73df3fea what a piece of shit, and yet some poor unsuspecting soul will buy thinking they have bought a real piece of numismatic treasure...........ebay, and ebay sellers like this, do no good to the long term good of coin collecting.

you can keep your polished coins, theyre polished to hide grade and to con the innocent.

At least the pictures show that it is obviously polished. I agree with the seller in that "I'm sure the serious collectors out there will know the value of this Item". Indeed they will and it's bugger all bar the silver content.

[ski]

obviously polished to me nick, and obviously polished to you nick.....but....

to those who are starting out?......not knowing too much about grading....their gonna get ripped off by a glitzy shiny piece of shit.........we wouldnt post our responses like this for the serious collector....of course they know its shite.....we post because of the worry that some young un , starting out, is gonna get fleeced by a piece of shit out to make a quick buck............and that my friend is what is sooo very wrong with ebay!!!

[azda]

Unfortunately, polished coins are just that.................shite, in order to try and create more money than the coin is worth. If it's toned, so what, leave it be, you might be doing more harm than good in the long run. Peck, you do surprise me.

Edited May 2, 2012 by azda

[TomGoodheart]

http://www.ebay.co.uk/itm/1888-QUEEN-VICTORIA-DOUBLE-FLORIN-/251052113898?pt=UK_Coins_BritishMilled_RL&hash=item3a73df3fea

Surely there's a trades description breach here?

pris·tine/ˈprisˌtēn/ Adjective:

1.In its original condition; unspoiled.

2.Clean and fresh as if new; spotless.

I don't think it qualifies as either. It's just plain nasty.

[Gary D]

http://www.ebay.co.uk/itm/1888-QUEEN-VICTORIA-DOUBLE-FLORIN-/251052113898?pt=UK_Coins_BritishMilled_RL&hash=item3a73df3fea

Surely there's a trades description breach here?

pris·tine/ˈprisˌtēn/ Adjective:

1.In its original condition; unspoiled.

2.Clean and fresh as if new; spotless.

I don't think it qualifies as either. It's just plain nasty.

I always get a smile from the bright EVII farthings that someone has gone to a lot of trouble removing the mint toning. Seems to be Americans mainly.

[1949threepence]

Can't abide the look of polished coins. I'm of the old school of thought that polishing a coin, even more than cleaning it with a brillo pad, totally annihilates the coin.

[Peckris]

Can't abide the look of polished coins. I'm of the old school of thought that polishing a coin, even more than cleaning it with a brillo pad, totally annihilates the coin.

I think I'd place the Brillo as #1 villainy, with polishing a clear #2.

[ski]

ski, on 02 May 2012 - 11:34 PM, said:

http://www.ebay.co.u...=item3a73df3fea

cant believe it......£28-55

somebody's gonna think theyve bought a gem......

[Peckris]

ski, on 02 May 2012 - 11:34 PM, said:

http://www.ebay.co.u...=item3a73df3fea

cant believe it......£28-55

somebody's gonna think theyve bought a gem......

Bad link there, ski

[ski]

sorry, here it is again

http://www.ebay.co.uk/itm/1888-QUEEN-VICTORIA-DOUBLE-FLORIN-/251052113898?pt=UK_Coins_BritishMilled_RL&hash=item3a73df3fea

its the same auction to which i referred to earlier in the thread.

ski.

[argentumandcoins]

I also have a few "pristine" mirrors lying around. Ebay, land of the dimwit!

[Colin G.]

ski, on 02 May 2012 - 11:34 PM, said:

http://www.ebay.co.u...=item3a73df3fea

cant believe it......£28-55

somebody's gonna think theyve bought a gem......

It will be the mint, stocking up ready for the next box set

[1949threepence]

sorry, here it is again

http://www.ebay.co.u...=item3a73df3fea

its the same auction to which i referred to earlier in the thread.

ski.

Somebody's been at it with the Silvo !!!

[ski]

i wrote to the seller and pointed out all his coins were very highly polished to make them look a better grade than what they were, he did reply, saying thats how he bought them and people would buy basing their judgement on grade.

The idea that his coins were not pristine as advertised but very highly polished was of no concern to him at all.

[Peckris]

sorry, here it is again

http://www.ebay.co.uk/itm/1888-QUEEN-VICTORIA-DOUBLE-FLORIN-/251052113898?pt=UK_Coins_BritishMilled_RL&hash=item3a73df3fea

its the same auction to which i referred to earlier in the thread.

ski.

i wrote to the seller and pointed out all his coins were very highly polished to make them look a better grade than what they were, he did reply, saying thats how he bought them and people would buy basing their judgement on grade.

The idea that his coins were not pristine as advertised but very highly polished was of no concern to him at all.

Yes, that's a shocker. As for his pathetic excuse - oh yes, so he bought them all at the same time from the same source? Yeah, right. I used to write to these people too Ski, but gave up when I realised I was wasting my 'virtual breath'. They know damn well what they're doing and also know they aren't going to sell to the likes of us who know something about the subject. They just want some unsuspecting tyro with more money than sense or experience.

[ski]

Yes, that's a shocker. As for his pathetic excuse - oh yes, so he bought them all at the same time from the same source? Yeah, right. I used to write to these people too Ski, but gave up when I realised I was wasting my 'virtual breath'. They know damn well what they're doing and also know they aren't going to sell to the likes of us who know something about the subject. They just want some unsuspecting tyro with more money than sense or experience.

i just hope that tyro isnt a kid spending his saved up pocket money.

[Peckris]

Yes, that's a shocker. As for his pathetic excuse - oh yes, so he bought them all at the same time from the same source? Yeah, right. I used to write to these people too Ski, but gave up when I realised I was wasting my 'virtual breath'. They know damn well what they're doing and also know they aren't going to sell to the likes of us who know something about the subject. They just want some unsuspecting tyro with more money than sense or experience.

i just hope that tyro isnt a kid spending his saved up pocket money.

Me too. Let's hope that - like Patrick - he finds us first.

[Peter]

Ebay is not a place for fools.Why do people accept grades or blatantly polished trash.

I've taken a couple of gambles..ok they don't always become the cash cow....a risk I will repeat.

[1949threepence]

Ebay is not a place for fools.Why do people accept grades or blatantly polished trash.

I've taken a couple of gambles..ok they don't always become the cash cow....a risk I will repeat.

Even the sharpest get stung there occasionally.

The most successful strikes on e bay fall into two camps, in my experience:-

a) Nice coins with a high initial bid price, which nevertheless is still nowhere near their true value. Would be bidders are strangely put off by the high start price, and often by-pass it completely, leaving someone else to make the only punt at the original price, thus bagging a real bargain.

b ) Really high end coins which would be better off in a proper auction. They will sell, for sure, but usually end up at between 55% to 75% of what they could potentially realise elsewhere. It's a real mistake for high quality expensive coins to be put on e bay.

Gambling strikes which may or may not pay off, are on those with poor photography, where the coin cannot properly be seen. This often puts buyers off, leaving the speculator room for a potential killing, or to get their fingers burned.

Edited May 11, 2012 by 1949threepence

[Peckris]

Ebay is not a place for fools.Why do people accept grades or blatantly polished trash.

I've taken a couple of gambles..ok they don't always become the cash cow....a risk I will repeat.

Even the sharpest get stung there occasionally.

The most successful strikes on e bay fall into two camps, in my experience:-

a) Nice coins with a high initial bid price, which nevertheless is still nowhere near their true value. Would be bidders are strangely put off by the high start price, and often by-pass it completely, leaving someone else to make the only punt at the original price, thus bagging a real bargain.

b ) Really high end coins which would be better off in a proper auction. They will sell, for sure, but usually end up at between 55% to 75% of what they could potentially realise elsewhere. It's a real mistake for high quality expensive coins to be put on e bay.

Gambling strikes which may or may not pay off, are on those with poor photography, where the coin cannot properly be seen. This often puts buyers off, leaving the speculator room for a potential killing, or to get their fingers burned.

I'd agree with this analysis apart from the one factor you missed out - certain key dates that somehow seem to do far better on eBay than elsewhere, I'm thinking of things like 1903 and 1905 halfcrowns.

[1949threepence]

Ebay is not a place for fools.Why do people accept grades or blatantly polished trash.

I've taken a couple of gambles..ok they don't always become the cash cow....a risk I will repeat.

Even the sharpest get stung there occasionally.

The most successful strikes on e bay fall into two camps, in my experience:-

a) Nice coins with a high initial bid price, which nevertheless is still nowhere near their true value. Would be bidders are strangely put off by the high start price, and often by-pass it completely, leaving someone else to make the only punt at the original price, thus bagging a real bargain.

b ) Really high end coins which would be better off in a proper auction. They will sell, for sure, but usually end up at between 55% to 75% of what they could potentially realise elsewhere. It's a real mistake for high quality expensive coins to be put on e bay.

Gambling strikes which may or may not pay off, are on those with poor photography, where the coin cannot properly be seen. This often puts buyers off, leaving the speculator room for a potential killing, or to get their fingers burned.

I'd agree with this analysis apart from the one factor you missed out - certain key dates that somehow seem to do far better on eBay than elsewhere, I'm thinking of things like 1903 and 1905 halfcrowns.

I've not noticed that, but then again, I haven't been looking at halfcrowns ~ or indeed anything other than pennies (obsessively ) for some considerable time. I'll have to start looking outwards a bit

[Coinery]

Ebay is not a place for fools.Why do people accept grades or blatantly polished trash.

I've taken a couple of gambles..ok they don't always become the cash cow....a risk I will repeat.

Even the sharpest get stung there occasionally.

The most successful strikes on e bay fall into two camps, in my experience:-

a) Nice coins with a high initial bid price, which nevertheless is still nowhere near their true value. Would be bidders are strangely put off by the high start price, and often by-pass it completely, leaving someone else to make the only punt at the original price, thus bagging a real bargain.

b ) Really high end coins which would be better off in a proper auction. They will sell, for sure, but usually end up at between 55% to 75% of what they could potentially realise elsewhere. It's a real mistake for high quality expensive coins to be put on e bay.

Gambling strikes which may or may not pay off, are on those with poor photography, where the coin cannot properly be seen. This often puts buyers off, leaving the speculator room for a potential killing, or to get their fingers burned.

I'd agree with this analysis apart from the one factor you missed out - certain key dates that somehow seem to do far better on eBay than elsewhere, I'm thinking of things like 1903 and 1905 halfcrowns.

Regarding the above point b

I absolutely agree with the percentages, but I'm not sure which auctions outside of eBay are being talked about for better prices? I spent a few days, six month's back, looking at the realised prices for a number of major auctions...I didn't find that many there that were making Spink book prices either, and sellers premiums aren't any better than eBay (mostly). I know minus 5% has been mentioned before but, generally speaking, eBay aren't off the scale at 10%, and they know it!

Does anybody know how often nice coins make their book price in major auctions? Would it be more often than not? I mean, the book prices are set according to the major auction results, so one would think they must more often do, it just doesn't look that way.

Do you think books like Spink attempts to 'drive' the market, rather than be an honest reflection OF the market?

Edited May 11, 2012 by Coinery

[Peter]

Spinks are high and low.I know what I want and the price I want to pay.

Some coins seldom see the light of day so I may push the boat out.

I love chasing varieties but come up against a few forum members.

I have been lucky but certainly put the hours/miles/sneeking funds in.

[Rob]

Ebay is not a place for fools.Why do people accept grades or blatantly polished trash.

I've taken a couple of gambles..ok they don't always become the cash cow....a risk I will repeat.

Even the sharpest get stung there occasionally.

The most successful strikes on e bay fall into two camps, in my experience:-

a) Nice coins with a high initial bid price, which nevertheless is still nowhere near their true value. Would be bidders are strangely put off by the high start price, and often by-pass it completely, leaving someone else to make the only punt at the original price, thus bagging a real bargain.

b ) Really high end coins which would be better off in a proper auction. They will sell, for sure, but usually end up at between 55% to 75% of what they could potentially realise elsewhere. It's a real mistake for high quality expensive coins to be put on e bay.

Gambling strikes which may or may not pay off, are on those with poor photography, where the coin cannot properly be seen. This often puts buyers off, leaving the speculator room for a potential killing, or to get their fingers burned.

I'd agree with this analysis apart from the one factor you missed out - certain key dates that somehow seem to do far better on eBay than elsewhere, I'm thinking of things like 1903 and 1905 halfcrowns.

Regarding the above point b

I absolutely agree with the percentages, but I'm not sure which auctions outside of eBay are being talked about for better prices? I spent a few days, six month's back, looking at the realised prices for a number of major auctions...I didn't find that many there that were making Spink book prices either, and sellers premiums aren't any better than eBay (mostly). I know minus 5% has been mentioned before but, generally speaking, eBay aren't off the scale at 10%, and they know it!

Does anybody know how often nice coins make their book price in major auctions? Would it be more often than not? I mean, the book prices are set according to the major auction results, so one would think they must more often do, it just doesn't look that way.

Do you think books like Spink attempts to 'drive' the market, rather than be an honest reflection OF the market?

Out and out raities, best known or way better than average pieces you can disregard the book. Just below that will try to push the boundaries, but not too much. Mid-range pieces will probably make around book after you have added buyer's premium, low grades won't sell unless an acknowledged rarity.

Spink doesn't attempt to drive the market prices. As a rule, there will always be a specific coin that goes way over the odds and the reason for it doing so filters into the market gossip. Consequently the yearly price revisions will not reflect a high price in full. We all notice the lots that sell for more than expected, but rarely comment on those that mark time in keeping with the estimate. The latter is a truer reflection of where the market is at and will probably go in the future. The top end is driven by a larger number of people who recognise relative quality and have sufficient funds to not worry about overpaying on occasions. If you are happy paying £10K or more for a coin, it doesn't really matter if you pay £300 for a £100 coin in the overall context of the collection as the overpayment will be a praction of a percentage point of its total value.

The problem with overpaying on ebay is that most culprits are doing so out of ignorance with respect to the general market, what dealers have on offer (usually at substantially lower prices), have a reliance on the quoted grade as gospel, and mostly have never seen a high grade coin with which to make a considered judgement.

Edited May 12, 2012 by Rob