Richard Edwards Auction company Would not stand behind sale of mis-graded coin purchased at his online auction Greenville Ohio
Purchased several coins over a few months from Mr. Edwards via internet auctions.
After one purchase of a more expensive coin listed as an MS66 (which is defined as very nice) condition coin the appearance of the coin raised some questions as it did not appear to be the grade mentioned.
I sent the coin (at my own expense) to an independent grading lab to verify what I suspected. After several weeks i received the coin and grading report back and it graded at least one grade lower. The report, from the premier grading lab PCGS did not regrade the coin but only stated it was not an MS66. They alluded (via insurance) that is was MS64/64+.
In the coin collection hobby one grade can make a difference of thousands of dollars in value.
When i received the report i tried to contact Mr. Edwards via several email attempts. I know his email is correct because i did correspond with him in the past during the auctions for other matters.
Over several weeks all emails went unresponded - no replies and no return phone calls.
I am filing this report to warn other collectors about Mr. Edwards lack of follow up and support for his sales. I am having all of my purchases from him regraded to check for misgraded and even counterfit coins.
Please be warned about this auction company - he also is listed through the Auctionzip.com company. I contacted Auctionzip in the past and they say that I am responsible to "try and work it out" witht he seller.
It is apparent Mr. Edwards has no desire to stand behind his aucrtions.
1 Updates & Rebuttals
warren
South Burlington,United States
We are all responsible to be a somewhat educated buyer
#2Consumer Suggestion
Thu, November 09, 2017
I have bought many items from R Edwards Auction Company without incident and rcvd what I expected and more.
Anyone that buys a 3rd party graded coin needs to know that there are different standards and degrees of grading
between the numerous grading companies. Some have poor reputations amongst dealers as to the grades they are known
to give a coin or note for that matter. Some grade with added emphasis on physical appearance and others can be strictly technical.
There are some that are a mix of both and unfortunately a few houses are in their own world and without naming any, can be so
overgraded that you only throw up for it. Like one that only gives grades of MS-67! If Richard Edwards sold one of those graded coins
should he be responsible for it's reported grade ? How can he? One could always try to offer to an auction house to pay them the commission
that was due for the sale or a fair amount and cancel the purchase if a mistake or issue arises. Not all houses would do this but a reputable ones
often would save the discredit in lieu of the settlement.
In this case of a coin's conditon marked by hand, you are on your own and cannot follow such as the guide in this day and age.
If you can't see the coin with your own eye, then you are rolling the dice.
If it's from a well trusted company and still secrley slabbed or packaged then you can sleep a little better. If/when a coin is graded
eg an MS66, you had better know the grading company and trust them. Even the top companies make errors and some state they
guarantee their designations for errors. Errors happen. The buyer has to be the final decision maker and be ready to decipher the
best from the rest. Any grade marked on a 2x2 or any slabbed coin is just one opinion. Know the coin, country and what the mintage
strikes were like for that year(s) and be wary of a too good to be true situation. Beware of counterfeits as well. A smaller auction site
could be fooled by a consignor and supplied with a spot fake here and there.
Another scenario that I noticed arises with foreign coins/sets. Designations of proof sets when the accompanying photo clearly shows
the packaging and contents as different quality. You need to research the set and know what's what.
If a coin is stated as silver or gold and only an .800 content for example, you can't go cry later that you were were misled by a silver
or gold designation. You have to know what you are buying.
Most of the auction houses I find and have dealt with online are legit.
You need to know the real value of what you are bidding on and not realize
after the fact that you became caught up in the bidding action and overpaid for your buy.