Basic return privileges in the coin industry
Return privileges in the coin industry run from none to 30 days. A ten-day return privilege is one of the more common in the coin industry. Ten days allows just enough time to examine the coin for yourself, but not quite enough time to show it to many experts, and certainly not enough time to submit the coin to any of the grading services. Make your own decision, and make it quickly.
A 30-day return privilege gives you enough time to do whatever you need to make yourself confident with your purchase.
Be sure to find out when the time period for the return privilege begins and ends. Does the ten-day period begin with the postmark date, the date the coin was shipped to you, the date you received it, or some other date? When must you return the coin? Is a postmark date sufficient for meeting the return date? What happens if you don't return the coin on time?
After you establish yourself as a legitimate customer, sellers are more likely to allow for negotiated return privileges. For example, you can arrange for the seller to submit your purchase directly to a grading service and then notify you when the coin comes back. If the grade comes back as expected, you take delivery of the coin; if not, the seller keeps it. The idea is to establish trust and a good working relationship between the buyer and the seller. State your requirements and negotiate your terms upfront.
Before you become too entangled with a seller, try a test return and see how you're treated. If you encounter any problems, be wary and consider dealing with someone else. Some dealers hate returns, and they perceive anyone who returns coins as an undesirable customer — if you return a single coin, they'll never do business with you again. Other dealers take a more reasoned approach, understanding that legitimate differences of opinion exist among buyers and sellers. However, if you return eight out of ten coins from every order, something's wrong. Are you being too picky or are the coins really that bad? In either case, move on and try your luck with another seller.
Questions and Answers
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