Bought a CHEAP 1923 Peace dollar!

Brendanhusk

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Mar 22, 2011
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So i haven't had much luck detecting, butttttt i found a great deal on ebay on a 1923, MS-65 Gem Uncirculated Peace Dollar for only $52! I looked around and these go for well over $100, so i think i got a heck of a deal and wanted to share =]]]
 
thats interesting dusty... idk it LOOKED a bit scratched up in those pictures but who knows if its a bad picture or what. the good news is that i havent payed for it yet. but that website you posted has some comments on people that disagree, and if you look at the ebayer i purchased it from, he does NOT have bad feedback, he has over 100,000 at 99.7% so i doubt hes giving out bad coins...
 
yeah i have seen a few NNC coins in the past month and was wondering about them, as I had not heard of them before.

Thanks for sharing!
 
thats interesting dusty... idk it LOOKED a bit scratched up in those pictures but who knows if its a bad picture or what. the good news is that i havent payed for it yet. but that website you posted has some comments on people that disagree, and if you look at the ebayer i purchased it from, he does NOT have bad feedback, he has over 100,000 at 99.7% so i doubt hes giving out bad coins...

Bad coins, no. Overgraded coins, according to the comments, yes. A one-man company that slabs his own coins.......dang, why didn't I think of that?????:D Don't feel bad, ya still got the melt value and maybe more......You might want to check with Ebay and see if that NNC is on their "approved" graders list.....if not, you may have grounds to back out of the deal.....

Dusty
 
So i decided to message this guy, and heres what i said, "Hi, i recently won an auction for this peace dollar, and i assumed that the coin was an MS-65 coin. now that i looked at it, i see that the grading company is NNC. That grading company is unacceptable, and illegitimate for many coins, and im sure if you checked with more reputable companies, such as the NGC you would get a MUCH lower rating, especially after closely inspecting these pictures of the coin. An MS-65 coin is supposed to have few or NO scratches on the surface of the coin, and by seeing these pictures, it seems like this coin has a LOT of scratches. i contact you now, before i pay because i would like to not purchase this coin anymore. If that is fine with you, then i will just not pay and we will leave it at that, if not then i guess we will figure that out. I hope that you are understanding and that you can just relist it and sell it, and possibly get more out of the coin, thanks again for your time and patience."

hopefully he can accept this and i can get myself out of trouble...
 
So i decided to message this guy, and heres what i said, "Hi, i recently won an auction for this peace dollar, and i assumed that the coin was an MS-65 coin. now that i looked at it, i see that the grading company is NNC. That grading company is unacceptable, and illegitimate for many coins, and im sure if you checked with more reputable companies, such as the NGC you would get a MUCH lower rating, especially after closely inspecting these pictures of the coin. An MS-65 coin is supposed to have few or NO scratches on the surface of the coin, and by seeing these pictures, it seems like this coin has a LOT of scratches. i contact you now, before i pay because i would like to not purchase this coin anymore. If that is fine with you, then i will just not pay and we will leave it at that, if not then i guess we will figure that out. I hope that you are understanding and that you can just relist it and sell it, and possibly get more out of the coin, thanks again for your time and patience."

hopefully he can accept this and i can get myself out of trouble...

You're NOT in trouble.....he is for representing something that is not true (the condition of the coin). According to one of the posts in the "rip-off" link, his coin grading company was deleted from ebay's approved list (as were several others).

Dusty
 
excellent advice dusty... i just looked it up and i DID find on ebay, the official grading companies allowed to be sold, and NNC is NOT on there. so if he doesnt want to cancel it then i cant talk directly to ebay about it and get it cancelled. i wish my dumb butt would've known about this illegitimate company in the first place >:(
 
excellent advice dusty... i just looked it up and i DID find on ebay, the official grading companies allowed to be sold, and NNC is NOT on there. so if he doesnt want to cancel it then i cant talk directly to ebay about it and get it cancelled. i wish my dumb butt would've known about this illegitimate company in the first place >:(

Happy to be able to help and maybe save you some $$$$.....:yes::yes:

Dusty
 
yes for sure... im now hunting for a peace dollar in GENUINE uncirculated condition for $10 less haha thanks again buddy. this is my favorite coin... such a beauty on the front =]
 
thats was cool of you dusty to look out for brendan there are alot of scam artist out there i hope i spelled his name right i always butcher this poor kids name lol

Damo

hey! someone got my name right :lol: im usually not a sucker to scams, and i wouldn't call this a SCAM as much as a slightly untruthful sale. but i really do appreciate dusty's help, and i hope any others who read this will be aware of the dangers of uncertified coin graders.
 
There is no way that coin would be graded MS-65 by any of the three major grading services. It also looks like it was dipped. Glad you haven't paid yet. I would file a complaint with eBay to put that seller out of business.
 
At least you only bought one fake coin I bought 14. I bought them in Afghanistan from a local guy that was on base. I should have know they were fake. I am pretty sure Hellen Keller could have pointed it out, but I was excited. I think I paid 15 dollars for all of them. Luckily for you Dusty found out before it was to late.
 

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I like those fake coins... not too bad for $15 ;P cool to look at, and actually there is a TINY market for fake coins, because people like to make there little coin portfolios perfect. I once bought a fake chinese coin for like 6 cents... it was awesome haha he shipped it out for free, and i got this brass/bronze coin for 6 cents... i THINK its fake... but idk looks legit.

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EBay

You need to be very very careful when you buy coins on E-Bay. 90% of these coins have been "Dipped" to give it customer appeal. And do not feel safe because you are buying a graded coin. NGC just discovered in 2008 that China had been making NGC cases, assigning numbers to them that match the coin in the holder and then flooded the market with them. That is one of the main reasons NGC changed their slab to look the way it does now.

There should be three arrows on all sides of a real NGC slabbed coin, the fakes did not have these. I am referring to the "New" holder.

I always buy using the axiom, "If it is to good to be true, then run like Hell in the opposite direction".

If you truly want a nice coin, go to a coin shop.
 
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