Barry Stuppler is Unethical
Nobidactivity
Seller "verypq" has a 1889-CC NGC AU53 Morgan Dollar up for sale with a BIN
of $7,750.
View this auction here.
http://cgi.ebay.com/SUPERB-KEY-DATE-1889-CC-MORGAN-SILVER-DOLLAR-NGC-AU53_W0QQitemZ330281408396
Quick research indicates the last three 1889-CC NGC AU53 Morgan Dollars sold
at Heritage (April 18-July 31) for $5,175, $5,462 and $5,175 for an average
selling price of $5,270.
http://coins.ha.com/common/view_item.php?Sale_No=1114&Lot_No=2364
http://coins.ha.com/common/view_item.php?Sale_No=1114&Lot_No=2365
http://coins.ha.com/common/view_item.php?Sale_No=1104&Lot_No=2776
Of course anyone can market an item for what they want even though the
asking price is very high compared to recent auctions.
But check out the item description, this specifically.
"PCGS.com currently shows a value of an AU55 1889-CC Dollar at $9,500. This
1889-CC Morgan is graded AU53 and we are offering it for over $1,500 less.
While this is already a terrific price, today I've set a LOW Starting Bid on
this auction in order to bring you yet another great eBay deal. Get your
high bid in early or use Buy-it-Now to make this beautiful Morgan yours
without waiting. Good luck!"
I have issues with this for the following reasons.
1) This item is not graded by PCGS and their website is very specific that
prices quoted are for PCGS graded coins only.
http://www.pcgs.com/prices/PriceGuideDetail.aspx?c=744&title=Morgan+Dollar
"Important: The PCGS Price Guide prices apply only to PCGS Graded coins."
2) This item is not graded an AU55, but a AU53 thus the quoted PCGS AU55
price is not even applicable to this piece even if the price guide was
applicable, which it is not.
Previous cases where this type of citation of incompatible price guides was
considered a violation of eBay policy by T&S personnel or the CCW Program as
they did remove such listings, however it isn't codified in the Coin Selling
Policy (where requirements for certified coins are listed) so it looks like
it's discretionary. Seller "verypq" is Barry Suppler (ANA President) looks
like he's found a loophole and is exploiting it.
IMO, the seller is attempting to equate the value of the NGC item with an
inappropriate grading guide at an inappropriate grade level. Everyone who
knows something about Morgan Dollars knows, and I would expect the seller to
be in this category, that very rare key date NGC graded coins do not sell
for the same price as do PCGS graded coins. If the seller were honest, the
seller would cite the appropriate wholesale buy and ask prices in, say for
instance, the Greysheet or the retail price listed, say in the latest
edition of, Coin World or the seller would leave all reference to prices out
of the description entirely.
IMO, time to bust Barry Suppler (ANA President) AGAIN (we busted him before
when he was a member of the Board of Governors). We'll see if the CCW folks
('coin industry' hacks) have enough ball8 to do one of their own this time.
If not, we'll have to bring him to the attention of the PNG Exec. Director
Robert Brueggeman AGAIN for disciplinary action. Clearly, IMO, the seller
has violated provisions # 4 and 9 of the PNG Code of Ethics viewable here:
http://www.pngdealers.com/category.php?category_id=6
Nick Knight
>Of course anyone can market an item for what they want
There you go. Just like anyone can take issue with anything, waste their
time and post mini-stories about people with whom they have an online beef.
And they don't even have to attach a real name to it.
Duh. For fun, I'll plonk you, although when you're making up email
addresses, it doesn't work all that well. No matter, I, playing the role of
"anyone", can ignore future posts instead of replying. I do have that much
will-power, honest!
Nick
Rob
You do not like find a hobby