coin grading prior to resell

[waybri]

Hi

i was on another forum recently and read lots about how dealers cherry picked th best coins and supplied us with the lower grades.

 

Is that process carried out by dealers like silver-to-go  or any of the other european dealers ??

 

any information welcome as quite a few people have been asking the same questions

 

http://forums.silverstackers.com/topic-45857-myth-or-not-do-dealers-cherry-pick-mint-rolls.html

[silversword]

I'm sure it happens to some extent with the coins that are likely to have higher premiums because that is human nature, though i don't know for sure.

 

I expect for basic bullion that it's not worth it. I have seen several dealers state that they don't have the time to open everything up and sort through looking for good/bad specimens. I also expect that it's pretty difficult to sell tubes complete with the original tamper-proof mint seal if you've already opened it.

[HawkHybrid]

it only works if they also sell graded coins. dealers like silver to go don't currently sell graded coins,

so even if they picked out the perfect coin it won't sell for more than the rest unless they have it

graded.

 

HH

[waybri]

just because they dont sell graded coins to us does not mean it does not happen ?

 

im sure another selling  outlet would be sensible due to the nature of the original business of bullion not numistic

apmex have already admitted it to customers that this process occurs .

[waybri]

I hope its not the case

 

perhaps livia could respond

[HawkHybrid]

 

 

just because they dont sell graded coins to us does not mean it does not happen ?

 

think in terms of profit, if they don't get it graded and sold as a superior product

then there is no point making the effort.

 

apmex do sell graded coins so it works out.

 

maybe some previous buyers of silver to go tubes can confirm whether they arrived

sealed?

 

HH

[waybri]

they can easily sell to a slabbed coin dealer

 

i have recieved many tubes from silver to go and only tubes which are sealed are the saltwater crocs with hologram seal

all my polar bears,britannias,etc come in non sealed or previously opened tubes.

[Cornishfarmer]

I asked stg for sealed crocs and panda, and livia

Was happy to sort out for me, was very impressed by them as a company

[StackemHigh]

I think STG will send tubes / rolls when you order that amount but will only guarantee it if asked for in advance.

 

This could be a money spinner for a big company ie, get everything graded that they get in on contract or for a one man operation checking incoming stock on the off chance to make am extra profit hit and miss!

 

If this is the case STG wouldn't fit into this scenario being a small to medium sized bullion company.

[waybri]

i think its naive to think a low cap company would not consider it due to size.

 

profit is profit

thats what we are all here for and only a fool would think businesses dont think the same

 

most people are here due to corrupt FIAT lol .... dont forget everybody loves money including dealers

[ChrisSilver]

I am pretty sure that the majority of tubes come like that, without a seal on them. That is just how they come from the mint.

Apmex sell 'mint direct' tubes which are gauranteed to be sealed in the mint, 'Mint direct' is Apmex's own brand and these branded tubes are supplied to Amex only.

1oz Kookaburra, koala, australian silver eagle, lunar series etc are sealed in a plastic type of wrap in rolls of 20 at the mint. If you order 20 of one of these coins, you should get them sealed like this. Silver 1oz Pandas come in a sealed sheet of 30.

[Danny-boy]

When we say "cherry picked", this isn't usually done in house.

The monster box (or equivalent) is usually sent to the grading house with instruction to only slab the 69's and 70's. They pay a nominal fee for those that are 68 and below, and the agreed slabbing / grading fee for the higher grades.

If STG buy direct from the mint, I highly doubt the coins would get cherry picked. If they buy from a secondary dealer then they may be cherry picked.

[Dave]

No great market for graded ,slabbed coins on this side of the pond, I try to buy my libertads from euro dealers rather than USA ones, for the reason they are never picked over in Europe , also Chinese are faking slabbed coins now ,easier for them as you can't test them if slabbed. Never heard of any euro dealers cherry picking coins .

[LongJohnSilver]

I asked stg for sealed crocs and panda, and livia

Was happy to sort out for me, was very impressed by them as a company

Just gone on their site for the first time, great prices for the coins I was after, what are they like for shipping etc ?

Sent from my iPhone using Tapatalk

[Danny-boy]

Just gone on their site for the first time, great prices for the coins I was after, what are they like for shipping etc ?

Shipping tier 1 is about £14 but it'd be a hefty order to go over that, and even if you do the upper tiers are reasonable.

Best to hit a 15oz order or more to make it massively worth while, you can hit £15.26/oz delivered for maples with a 15oz order.

That's bloody spectacular.

[iluvbeanz]

A general rule of thumb is to avoid any dealers that sell slabbed coins alongside their raw coins if you care about high quality raw coins. Now for those dealers that don't sell slabbed coins, then it's questionable whether they cherry pick or not.