Gold coins

[Xander]

Should Gold Proof coins be sold as Bullion if they are faulty?

The last two I bought were anything but a proof condition, though, the dealer didn't mention this.

[sixgun]

The minting process for proof coins differs from bullion. A proof coin is a proof coin however mangled it is.

There is no such thing as proof condition. 

Your question is, should damaged proof coins but sold at bullion coin prices? 

Well they certainly aren't worth the price of a perfect proof. A badly marked proof might be worth less than a nice bullion coin.

Were you misled as to the condition of the coins?
Sounds like the condition of the coins you thought you were buying weren't.

[sovereignsteve]

57 minutes ago, Xander said:

Should Gold Proof coins be sold as Bullion if they are faulty?

The last two I bought were anything but a proof condition, though, the dealer didn't mention this.

To some dealers, a proof coin is a proof coin, regardless of condition.

If you were buying blind, I don't suppose they were misleading you unless they stated they were in perfect condition.

That's one good point for feebay; you usually get good pictures and a description, plus the opportunity to ask the seller detailed questions about condition.

They don't always answer though, in actual or in truth!

[Xander]

4 minutes ago, sovereignsteve said:

To some dealers, a proof coin is a proof coin, regardless of condition.

If you were buying blind, I don't suppose they were misleading you unless they stated they were in perfect condition.

That's one good point for feebay; you usually get good pictures and a description, plus the opportunity to ask the seller detailed questions about condition.

They don't always answer though, in actual or in truth!

I agree about the dealer selling a proof coin as being proof, although, I would have thought they would have some kind of moral obligation to declare obvious marks on the coin. I think the problem stems from showing a picture of another coin and not the one you are getting. I suppose that's the way of it goes. In future, I will be phoning for a description before purchase, save me the hassle of returning it. The reason I was asking about selling a proof coin as bullion, one of the forum members sold a proof coin as bullion on the forum the other week, I took it that was because it wasn't perfect and possibly had marks on it, seemed pretty decent of him. Incidentally, my new Michael A. Marsh (revised by Steve Hill) edition of The Gold Sovereign arrived in the post yesterday, all I can say is, I would highly recommend this book to anyone interested in Gold Sovereigns.            

[sovereignsteve]

25 minutes ago, Xander said:

my new Michael A. Marsh (revised by Steve Hill) edition of The Gold Sovereign arrived in the post yesterday, all I can say is, I would highly recommend this book to anyone interested in Gold Sovereigns.            

I look forward to seeing how much of the original book is in there and how many updates have been added. A must buy but not desperate

27 minutes ago, Xander said:

I would have thought they would have some kind of moral obligation to declare obvious marks on the coin. I think the problem stems from showing a picture of another coin and not the one you are getting

It's a bit of a minefield and a grey area I agree, but larger dealers move so many coins it's probably not possible to photograph and accurately detail every one.

Who was it? Did it clearly say that the photo was not of the actual coin?

[Xander]

57 minutes ago, sovereignsteve said:

I look forward to seeing how much of the original book is in there and how many updates have been added. A must buy but not desperate

It's a bit of a minefield and a grey area I agree, but larger dealers move so many coins it's probably not possible to photograph and accurately detail every one.

Who was it? Did it clearly say that the photo was not of the actual coin?

It was the R.Mint. I returned it and asked for a refund. Your right, though, it wouldn't be feasible for them to photograph every coin.

I'll just put it down to part of the learning curve in coin collecting.

Thanks for your help.

[sovereignsteve]

45 minutes ago, Xander said:

It was the R.Mint

so it was a 2nd hand coin from the mint? just shows you what their standards are like