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Frequently Asked Questions (FAQ's)

Customer Service/General
1. What is instant ordering and how do I set it up?
2. How do I use Paypal to pay for my purchases online?
3. Is there a way to filter out the auctions coins when viewing your coins?
4. What is CAC certification?

Auction
1. Why doesn't DLRC post the reserve price of a lot at the begininning of an auction?
2. How can I get outbid by $1 (or less than an increment)?
3. What does BP stand for?
4. Can I negotiate the BP?
5. Does DLRC place house bids in their auctions?

myDavidLawrence
1. Does putting coins on the 'myDavidLawrence Want Lists' list obligate me in any way?

Coins
1. How much are my coins worth?
2. If I make an offer on a coin, am I obligated to purchase it?
3. I have a double-headed quarter. What is it worth?
4. I have a rare 1943 penny. What is it worth?
5. I would like to purchase one of your coins but it is not certified by my favorite grading service. Will you submit this coin to be put in a PCGS or NGC holder before I buy it?
6. What does OGH mean at the end of some of the your coin listings?
7. I've noticed that coins that share the same grade but graded by different grading services often have different prices. Why is that?
8. Do all coins eventually get toning?
9. What is the difference in DCAM and UCAM in grading proof coinage?
10. What is the difference between the PL, DPL and DMPL designations?
11. What effect does dipping coins in a silver cleaner have on the value of a coin?
12. How does the date of a coin affect the grade assigned by PCGS and NGC?
13. What is the significance of the star rating on your coin listings?

Currency
1. If I make an offer on a currency item, am I obligated to purchase it?
2. Why is there sometimes a difference between the current grade and the grade in the census?

Technical Support
1. After I login, when I click a link it shows me logged out again.
2. Cookies are enabled in my browser but the site still shows me logged out when I click a link after logging in.
3. I have made sure cookies are enabled, but I am still having problems?


Answers

Customer Service/General
1. What is instant ordering and how do I set it up?
Instant ordering is a great way to one-click order any available coin or currency item on our website. It is the most efficient and convenient way to order on-line. Jump to this topic.

2. How do I use Paypal to pay for my purchases online?
It's easy. Go ahead and place your order online via the shopping cart and select PayPal. Once you finalize the order, click the "Pay by PayPal" button , Log in to PayPal to finalize your payment.

3. Is there a way to filter out the auctions coins when viewing your coins?
Yes. Check the "Hide Auction Coins" box in the search results page and click the "Refresh" button.

4. What is CAC certification?

You may have noticed that some of our coins are now are labeled with a CAC sticker. This identifying sticker designates that a coin has met premium quality standards set by Collectors Acceptance Corporation, an independent group of well respected professional numismatists. Our experience so far is that CAC verified coins are continuing to gain popularity and acceptance and are doing well at auction compared to like coins without CAC verification. This new service seems to have instilled an added degree of confidence for online buyers that is being appreciated for many reasons. The bottom line is that it never hurts to get a second, or even third, professional opinion when purchasing quality coins. For more details regarding CAC, please visit www.caccoin.com. Jump to this topic.



Auction
1. Why doesn't DLRC post the reserve price of a lot at the begininning of an auction?
We start all reserved lots at a fraction of the reserve to begin with to encourage bidding. Forty-eight hours prior to the close of auction, we internally bid all the lots that have not met reserve up to one increment below the reserve, which effectively exposes the reserve. The other benefit of starting the lots low is that anyone who bids early gets the ability to buy the lot(s) they bid one at the reserve + 15% buyer's premium, if the lots fail to sell in the auction. This would not be possible if all lots opened at reserve.

2. How can I get outbid by $1 (or less than an increment)?
In some rare instances you can be outbid by less than a legal increment under the following circumstances.

As an example, let's say the reserve on a lot is $100 and you place a bid for $200. The system will make you the high bidder at $100 with a "hidden" bid of $200 which will only be executed if someone else bids against you.

If the next bidder comes along and bids $110, the system will automatically execute a bid of $120, and so on. As long as the next bidder comes in at least one increment higher than the current bid, he/she can bid any amount.

Given that your hidden bid of $200 is unknown to all other bidders, it is also possible that another bid can come in an bid $201, which technically is higher than your "hidden" bid of $200. Therefore you will be outbid by $1.

Note: all tie bids go to the first bid received.

3. What does BP stand for?
BP stands for buyer's premium. The amount we add to successful auction purchases. DLRC Auction charges 15% BP on all successfully won lots.

4. Can I negotiate the BP?
No. We charge the exact same amount of Buyer's Premium (BP) to all auction lots for ALL buyers. Dealers, collectors. Everyone can bid with the comfort of knowing that they are competing on a level playing field.

5. Does DLRC place house bids in their auctions?
The answer is Yes and No. Depending on whether the items are consigned or not.

On DLRC-owned inventory: We never place competitive bids on house (owned) inventory. For every lot that has a reserve, the system will place a house bid at one increment below the reserve at approximately 48 hours prior to the auction close. The system bid has the net effect of revealing the reserve to bidders, and also sending outbid notices to the highest bidder on a lot where reserve has not been met. NOTE: this bid is never placed on a lot where the reserve has already been met.

On Consigned Inventory: On consigned inventory, DLRC will, from time to time, place bids to purchase items. In such cases, DLRC will bid only once and often quite early in process to allow for the most competitive bidding possible. We do this to facilitate higher results for our consignors, as well as to uphold proper market values for inventory. In NO CASES will we place a second bid after we have been outbid by another bidder.

In the case of Guaranteed Auction lots, all lots are entered with a minimal starting bid and a "hidden" DLRC bid which represent the Guarantee Amount that was promised to the consignor by DLRC. By it's very nature, to win a lot, a bidder must exceed the DLRC guarantee. In some cases, DLRC will place a second bid on Guaranteed Auction lots the exceeds our "Guarantee". Again, this bid is placed once and early in the process to give the advantage to later bidders.

IN ALL CASES, DLRC PAYS THE SAME 15% BUYER'S PREMIUM AS ANY OTHER BIDDER. ANY COINS ACQUIRED BY DLRC THROUGH THE AUCTION PROCESS ARE PURCHASED AND INVENTORIED BY US WITH THE SAME BUYER'S FEE.

myDavidLawrence
1. Does putting coins on the 'myDavidLawrence Want Lists' list obligate me in any way?
NO. If you enter coins into the want list, you will automatically receive an email notice if a match comes in. For example, if you enter a 1901-S quarter PCGS or NGC AG4 through MS70, you will get an email when ANY matching coin is offered in our inventory. Even if you have no intention to buy, but like to keep tabs on how common (or NOT!) that these are, this is a great way to monitor coins of interest.
Jump to this topic.

Coins
1. How much are my coins worth?
A coin's value is based on many factors: the country of origin, denomination, year of production (minting), the Mint facility where the coin was struck, the condition and survivorship of similar coins. Demand is also a huge factor, of course. To simplify this complicated answer, we simply recommend that you pick up a copy of the industry-standard reference: "The Official Red Book: A Guide Book of U.S. Coins". This price guide is affordable, very clear and will answer most of your questions.

If your collection is large, and you already are aware that it is valuable. Please contact the at DLRC with an image and description of your holdings.

2. If I make an offer on a coin, am I obligated to purchase it?
Yes and No. If your offer is accepted, an order is automatically generated and you will be invoiced for the coin. However, if we make a "counter-offer", you are not obliged to accept our counter. Of course, you still have a 10-day return privilege with your order.

3. I have a double-headed quarter. What is it worth?
Double Headed quarters are simply a novelty item produced by private companies and sold in novelty/magic shops for up to $5.00. They are trick coins made for the sole intention of winning the age-old "Heads or Tails" game. We have also seen double headed nickels and half dollars. Apparently, the novelty wears off and the owners (or their children) decide to spend them, putting a new wave of "treasures"

4. I have a rare 1943 penny. What is it worth?
1943 Copper Lincoln cents are the next biggest 'find' among many of our web-site visitors. In 1943, all U.S. cents were made from steel, as the government needed the copper for bombs and ammunition for World War II. A few pennies were mistakenly produced in copper, but these are very rare and mostly accounted for. The easiest test to verify you have the steel penny (even though it may look copper due to a coating) is to place a magnet on the coin. If it's steel it will stick to the magnet, if it's copper it won't. The average steel penny is worth about fifteen cents.

5. I would like to purchase one of your coins but it is not certified by my favorite grading service. Will you submit this coin to be put in a PCGS or NGC holder before I buy it?
That's called cross-over service and we tend to discourage people from buying coins in one service pending "crossover" to PCGS (or NGC) because the statistics generally do not support the expense. It takes at least 30 days and only a small percentage of coins cross. Therefore it's simply better to wait for a coin in the holder of your choice. That said, we still advocate the "buy the coin, not the holder philosophy." The coins we sell, certified by PCGS, NGC and ANACS, are nice, high quality coins for the grade. We do not sell coins that we feel have been mis-represented.

7. What does OGH mean at the end of some of the your coin listings?
The OGH designation at the end of some coin listings stands for "Old Green Holder". When PCGS first began grading coins, their first labels were green, not blue as they are today. Many collectors like to know if the holder is either the older green label or the newer blue label in order to keep their sets in conisistent colored holders. There are many other reasons or factors individuals collect green label or old holders, so we decided to make it easier for those collectors by designating all green labeled holders with OGH.

8. I've noticed that coins that share the same grade but graded by different grading services often have different prices. Why is that?
That's a very complicated question. Generally the prices of these coins is determined by supply & demand and the population at the different grading services. PCGS tends to grade very few MS and Proof 70's while NGC hits that mark more often. Hence the price difference. We price our coins based on cost and what we believe to be fair market value. In many series and grades these prices are the same. But the PCGS Registry has also skewed the prices of PCGS coins in the highest grades as collectors complete for the ultimate PCGS-graded sets.

9. Do all coins eventually get toning?
Any silver coin can tone over time depending on its exposure to various surfaces. If you put the coin(s) in a paper album the edges will toned where they come in contact with paper, etc. If you keep them in inert holders (like PCGS & NGC slabs), their surfaces will generally remain the same.

10. What is the difference in DCAM and UCAM in grading proof coinage?
The answer to this question is simply just a matter of PCGS versus NGC. PCGS uses the designation DCAM for Deep Cameo surfaces. In other words: strong frosted devices (the raised parts of the coin design) against deeply mirrored, clear fields.

NGC uses the term UCAM for the exact same designation, only they call it Ultra Cameo. Likewise, ANACS uses the UDCAM (Ultra-Deep cameo), etc. It all implies the same depth of mirror and contrast.

The CAM designation only would suggest a partial effect. Usually this is seen more in earlier proof coinage.

11. What is the difference between the PL, DPL and DMPL designations?
DPL is the same as DMPL. NGC simply refers to 'deep mirror proof-like' coinage with the DPL designation, and PCGS uses 'DMPL'. ANACS uses 'UDM' (Ultra deep mirrors) for the same thing.

PL is used by all grading services to designate a lighter degree of proof-like surfaces.

12. What effect does dipping coins in a silver cleaner have on the value of a coin?
It depends on a number of factors including value of the coin, the current surfaces of the coin and the type of solution you are using. The best advise, however, is that only a coin professional should dip (or conserve) coins because you have more to lose than gain in terms of damaging the coin.

13. How does the date of a coin affect the grade assigned by PCGS and NGC?
Often different dates of coins (within a series) are graded with different expectations. For example, 1933 $10 gold are almost always seen with bag-marks on the reverse -- even in the highest grades. The Richmond coin is an example of this, as well. For this reason, the professional graders at NGC and PCGS will use a reference of the "typical" example they see of a specific coin to measure how they grade a specific date.

Another example is the 1919-D Walking Liberty half dollar. This date is a notoriously poorly struck issue. For that reason, even a mildly poorly struck coin can be considered well struck and therefore potentially worthy of an MS65 grade. The same weakness of strike on a 1933-S Walker (which usually comes very well struck) would be considered a detriment and therefore graded lower than the same coin dated 1919-D.

One other consideration is rarity. Famous rarities, like the 1933 $10 are always in high demand by the grading services for their notoriety, and often they get the benefit of the doubt during the grading process because of their fame.

14. What is the significance of the star rating on your coin listings?
We have long used the star rating to help buyers understand more about the coin before purchasing. A typical star rating is built of a single digit from 1-10, followed by a sequence of asterisks. The number...is a numerical description of the degree of toning. 1=pure white (or untoned for gold; full red for copper, etc); 10=black, or so dark features will not be visible. On average, most coins fall between 1-4 in toning. The stars...we typically try to sell coins with 4-stars (****) which represents above-average eye appeal. Five star coins have exceptional eye appeal; and a 3-star coin is just average appearing.

Currency
1. If I make an offer on a currency item, am I obligated to purchase it?
Yes and No. If your offer is accepted, an order is automatically generated and you will be invoiced for the note. However, if we make a "counter-offer", you are not obliged to accept our counter. Of course, you still have a 10-day return privilege with your order.

2. Why is there sometimes a difference between the current grade and the grade in the census?

The unfortunate aspect of the census is that many of the grades were based upon what one auction cataloger said about the note years ago. The current grading systems have concensus grading that establish the condition of the note. Also, as more grading occurs and more large size issues are handled, many of the large size notes are not held to the strict standards of modern small size due to age, storage etc… For example, it is very possible to find a note that was in the census years ago in VF, but is now found in an XF holder. What the current collector must remember, as mentioned above, the grading standards may have not only weakened, but the grade assigned years ago during that particular auciton was determined by the cataloger of the auction and not by third party consensus grading. Also, in the census there were not ultra-gem grades assigned as it was the older system of grading. Therefore, you may see a note in the census listed as CU but you now find it in a third party holder as a Gem 66. There are certainly instances where there are large discrepancies and we avoid handling notes were there are dramatic variances in grade in opposition to the historically noted census grade.

At DLRC we only sell notes that we would be happy to buy back in the future and hope we do so. Whether PCGS, PMG or CGA, we only carry those notes we feel are solid for the grade.



Technical Support
1. After I login, when I click a link it shows me logged out again.
If you are experiencing log in problems, you may have cookies disabled in your browser. For the DLRC site to function properly, we need to set a cookie that allows us to keep track of who you aare from page to page. We never store any personal information in the cookie, only a coded identifier to let us know which user you are from page to page.

To enable cookies, we have included instructions for most of the popular browsers.

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Select the medium security level.

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2. Cookies are enabled in my browser but the site still shows me logged out when I click a link after logging in.
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Click the button labeled Delete Cookies.

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