Altered Coins on Proxibid

This is a short post that exposes the bad and the good on Proxibid.

In the past month we have received four lots of doctored, dipped and ungradable coins. In two cases, we believe, the auctioneers oft-stated exclamations that they are not coin experts resulted in coin doctors sending them fraudulent consignments. That, coupled with acceptable (for Proxibid) but still substandard photography, hid the alterations.

In another case, we believe, the way an auctioneer photographs coins is to blame as he typically shoots coins against a black background with strong lightning, a technique that unintentionally hides dipping.

We no longer will purchase any coins from him or those who sell, even once, altered coins, as their judgment cannot be trusted, especially with their all-sales-final terms of service.

Some of the doctored coins were so skillfully done that they escaped our detection. As we frequently resell coins to Proxibid auctioneers, we sent them to one of our top houses and, in our view, the best grader in the business, Larry Fuller from Silvertowne Auctions.

He returned the coins to me with a note. See for yourself.

See why we keep advocating for sharp photos and better terms of service on Proxibid that allow for returns of fraudulent (and often criminally liable) sale of altered coins.

We will post in the coming weeks an article from Coin Update News discussing these issues in detail. Stay tuned.

Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.

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