cwgii wrote:It does beg the question. Did the dealer not know what he had. As in he mainly deals in dollars etc. or did he ,,steal,, it and just marked it up, 100%. Or maybe, he had reason to believe that the grade would not hold up to regrading...
He's mostly bullion. When he buys numi stuff I'm sure it's to his advantage. I mean, who sells a graded coin to a dealer other than someone willing to off-load it cheap.
Your point about regrading is on point though, and one that has been bothering me for a while. There seems to be this idea going around that PCGS or NGC coins must, if they are to remain credible, be sent back to PCGS or NGC every 8 - 10 years to be re-slabbed in the 'appropriate' holder for the current market.
This is a huge self-inflicted scam. If the perception is that I must have my entire collection of Mint State coins updated to a shiny new plastic box to be considered accurately graded...whew! How could it not be a scam? It's almost as if the grades have an expiration date.
It is a disturbing trend. And I don't see the coin graders rushing in to defend their own standards of the past 25 years.