Every week, I find myself reading a Letter to the Editor in one of the weekly or monthly coin publications where the writer complains about coins purchased on eBay that when sent out to one of the major grading services, comes back in a body bag (ungraded due to cleaning, recolored, artificial toning, not genuine, etc).  The writer ususally ends up the letter with the statement that eBay should only allow sellers to offer Third Party Graded Coins.

Prior to the growth of eBay, coin collectors had limited options for the purchase of coins.  If they were lucky, there was access to a local dealer.  If not, they had to rely on mail order dealers out of these same publications that they have written to.  There were also the major annual auctions and coin shows..

Since the US Mint introduced the State Quarter program, the hobby of numismatics (Coin Collecting) has exploded.  There are more outlets to purchase coins for your collection, your local dealer, weekly auctions from the major auction houses, multiple high end auction catalogs of estate collections, and of course eBay.

eBay is a fantastic source for purchasing coins and adding to your collection.  eBay is no different than your local dealer, coin show, mail order dealer, or auction house.

There are always going to be coins that have been cleaned, artifically toned, dipped, whizzed, recolored, retooled, mintmark added, etc.  In any hobby, the unfortunate reality is there is greed and the unscrupulous person looking to take advantage of novice collectors.

The person who complains that he has purchased coins off of eBay, sent them off for grading and had them returned in a body bag, has suffered a financial loss.  For that, we are sympathetic.  For this person to place the blame on eBay and make the statement that only Third Party Graded Coins be sold on eBay suggests that this person is not taking responsibility for what is ultimately his/her fault. 

Having collected and sold coins for well over 25 years, I have made my share of mistakes over the years, just as every other dealer has.  Coin collecting, like any other hobby, trade, skill, etc is a learning experience.  I have bought cleaned coins, recolored coins, non-geniune coins, etc.  Instead of viewing the experience as negative, I consider these tools of the trade and keep them as training pieces.

I have built a reference library that has cost in excess of thousands of dollars so I can continue to expand my knowledge of the hobby as there is always something to learn. 

A collector can spend $75 on two grading books and cover the outlay for the reference material by avoiding the purchase of a problem coin from the knowledge learned in the book.

As the difference between  a few points in the grading scale can mean hundreds or even thousands of dollars, why would you not take the time to read about grading coins, identifying coins that have been tampered with, learning how to identify non-geniuine coins, and more.

The knowledge you learn from reading one of these books can save you multiples of what you spend for the reference material.  If you choose not to educate yourself, assume responsibility for the loss.  That is the cost of not taking the time to learn about the hobby you have chosen to participate in.  To buy a key date Indian Cent with no knowledge of the diagnostics of the coin leaves you open to purchasing a counterfeit or non-genuine coin.  You are responsible for your own failure to take advantage of the plethora of available knowledge and use it to learn how to evaluate a coin, whether raw or graded by a recognized third party service.

I recommend that every collector join the American Numismatic Association.  Included with your annual membership is a subscription to the monthly magazine, "The Numismatist", access to an extensive reference library, and the ability to take courses in the ANA's College of Numismatics.

The ANA has strict codes for dealers to protect coin collectors as it is presumed that the dealer will always be more knowledgeable.  Dealers are required to offer an unconditional return privilege on all coins provided they have not been removed from the dealer's holder.  If the dealer you are thinking of purchasing a coin from does not offer a return privilege, don't do business with them.  They are not operating ethically and don't deserve your business.  If you are purchasing a high-end coin and you inform the dealer that you intend to have a raw coin graded, the dealer is supposed to offer you a thirty day (30) return privilege upon request.  If the dealer is not willing to honor your request, send the coin out on your behalf or guarantee a grade, why would you do business with that person?

Ask yourself, "Why does this dealer represent the coin to be a stunning, beautiful high end example, that in their opinion would grade a certain grade", offer this coin raw and not have the coin graded themselves.  That should be a caveat.  This does not say that all dealers are selling problem coins and that all raw coins will not grade.  It just means that you should exercise caution in making the purchase.

Sydney's Collectibles offers an unconditional return privilege on all coins, both raw and third party graded, as grading is subjective and beauty is in the eye of the beholder.  We also offer a grading guarantee on all raw coins valued in excess of $1,000 that we represent as problem free examples.  We will submit the coin on your behalf to PCGS or NGC under Express Service.  The grading fees are the responsibility of the buyer.  If the coin does not grade in line with our opinion, you as the buyer have the option to cancel your transaction and receive a full refund on the purchase of the coin including the grading fees. If the coin grades as advertised or higher, we will ship the coin out promptly upon receipt from the grading service.  It is a no lose proposition for you as the consumer.  We challenge any dealer to operate to these high ethical standards.

Please note that this guarantee does not apply to coins that we have listed with the opinion that the coin will not grade due to any issues that might be present.

Sydney's Collectibles abides by the ANA Code of Ethics and exceeds the guidelines in many areas.  Evaluate the ethics of the person selling coins on eBay.  If they are making a substantial income from the sale of coins and/or currency on eBay and are not offering you return privileges or guaranteeing their coins, rethink your decision to make the purchase, as you do so at your own risk.  Remember, if it seems to good to be true, it probabaly is.

Sydney's Collectibles is always available to answer questions and welcomes inquiries.  Please use the eBay Ask A Question link and we will respond promptly.

Wishing you good collecting,

Eric and Sydney