Check Your Coins After You Receive Them

[Kman]

Should go without saying, but check your coins after you receive them

A couple of years ago I got a 2005 proof sovereign, I inspected it using just my eyes, looked perfect, put it away

It was listed as "Gold sovereign "2005"rare low mintage one off design proof Fdc Condtion"

2 years later now after finally looking at it under a loupe, I can see a hint of finger print on an edge and a couple of scratches when the coin is tilted under a certain light

Obviously when I come to sell it I would have to list it honestly, which will knock a significant premium off the coin 

I paid £300 which I still think even in not perfect condition it would comfortably get with current prices, so I'm not totally stuffed, but what a silly goose for not checking it properly after I received it

 

[Lindeman]

It's a really good point @Kman! -amazing what the eye misses and the loupe reveals! 

Even for new bullion coins it's always worth a close look in the middle of the day under natural light with a loupe (if you have the luxury of time to do so - i.e. At the weekend for most of us). 

As has been well documented on the Forum, gold QB lion quarter ounce gold coins are a perfect example. I recently bought 8 in the US, and on first glance they all looked OK. But under the loupe I saw all sorts of different lines and marks on 4, while 4 look immaculate (at least to me).  

Always worth checking and then making notes or taking macro shots of every coin. 

And a good lesson/example for all of us in how to honourably describe your coins when selling. Thanks! 

[sovereignsteve]

38 minutes ago, Lindeman said:

But under the loupe I saw all sorts of different lines and marks on 4, while 4 look immaculate (at least to me).  

 

Possibly a bit much to expect a bullion coin to be perfect under the loupe? They won't polish the blanks to the same finish as the proofs.

[Lindeman]

You are probably right Steve, but I believe most of these marks are not from the minting itself - more from the subsequent throwing around at the Mint before they get into tubes or shipping materials  ?. 

But I will reserve the right to perfection once/if the QB proofs appear at a hefty premium?! 

Lindeman 

[a_a]

It happened to me with a well-known dealer which is very popular around here

Bought a tube of coins, when they arrived I looked at the top one for a minute, put it back in and then didn't look again for another year, by which time I saw some of them have fingerprints on.

 

[Pete]

I too was mightily p*ssed off when a new coin received from a well known dealer, also referenced many times on this forum, arrived with large greasy thumb prints on both sides.
Clearly the handlers were not using gloves and perhaps working whilst eating their lunch or a packet of crisps.

Okay - so what - it happens BUT this coin was a brand new, just issued, Perth Mint Lunar in a capsule.
I kept the coin because the cost of return shipping was too high and it was my word against a major bullion seller.