GreatCollections Terms and Conditions
If you have any questions about our Terms and Conditions, please do not hesitate to contact us at 1.800.44.COINS or +1.949.679.4180 or via e-mail: [email protected]
1. GreatCollections.com, LLC. is a public auction and direct sale merchant of rare coins, bullion and other related products (hereafter referred to as "GreatCollections"). Bidding, purchasing and/or consigning items at GreatCollections constitutes acceptance by Registered User of all Terms and Conditions stated herein. This agreement is subject to Arbitration.
2. All certified coins have been graded and certified by one of the leading independent grading companies: PCGS, NGC or ANACS. Grading of rare coins is subjective and may differ among independent grading services and among numismatists, even though grading has a material effect on the value of the coins. GreatCollections is not responsible for the grades assigned and makes no warranty or representation regarding such grades.
3. Items are available for bid and for direct sale. All photographs posted on GreatCollections website ("Website") are of the actual items being sold but may not be the actual size or to scale. All photographs remain the property of GreatCollections and are usually available for publication when credit is given. All requests for using GreatCollections images should be sent via e-mail to [email protected]
GreatCollections reserves the right to withdraw any lot prior to the end of the auction, regardless of bids being received, although this very rarely occurs and is usually due to an error in the listing. In the event a lot is withdrawn, no bidder shall have any right to claim any consequential damages. In the sole discretion of GreatCollections, we reserve the right to delay the end time, suspend, postpone or cancel auctions or direct purchase items, without liability of any kind whatsoever to consignors or bidders, including if there is/was an error in the listing, whether made by GreatCollections or not. In most cases, GreatCollections will post notification of any such action on the Website as soon as reasonably feasible.
4. Reserves. GreatCollections does not offer coins with hidden reserves. All items offered have opening or minimum bids, which is the lowest amount acceptable to the consignor and/or GreatCollections.
5. Registration Process. A bidder must register and provide personal information to GreatCollections in order to bid and must be over 18 years of age. GreatCollections may refuse, reject or cancel any bid or purchase from any specific bidder without giving notice or reason to bidder.
6. Auctions – Bidding Process. You may bid any amount on any lot providing the bid is at least the next incremental bid displayed on the lot information page. Our website software will award the winning bidder at one bid increment above the second highest bidder, providing the minimum bid has been met. In the case of tied bids, preference will be given to the earlier bid received. Bids may not be canceled once they are placed. For more information about bidding and bidding increments, please visit www.greatcollections.com/bidding. All bids must be placed at www.greatcollections.com; if you are having difficulty in bidding, please telephone 1.800.44.COINS (+1.949.679.4180) or e-mail [email protected]
7. Auction Winnings, Buy Now and Invoicing. Once you win an auction, the item will appear in your "Buyer Invoice" in MyGC. At this time, you can add other items (Buy Now - Fixed Price items) or wait for additional auctions to end, or you can check out and pay for your invoice immediately. A Discounted Buyer's Fee of 10% (minimum $5, based on a per-lot basis) will be added to the winning bid amount for all auction items if paid by check, eCheck or wire, or our standard Buyer's Fee of 12.5% (minimum $5, based on a per-lot basis) if paid by PayPal or Credit Card. This fee is paid by all bidders, regardless of affiliation or status as a dealer. Fixed price listings do not attract a Buyers' Fee. Shipping Fees will be added to your invoice according to our standard Shipping Fee schedule located at www.greatcollections.com/shippingfees. If you are paying for multiple invoices at once, GreatCollections will gladly combine shipping.
8. Sales Tax. California residents will be charged sales tax. Please note that the purchase of coins and/or bullion with a price, including the buyer's fee, in excess of One Thousand, Five Hundred Dollars ($1,500.00) is exempt from California sales tax. This $1,500.00 rule only applies to coins appearing on the same invoice and does not apply to catalogs, numismatic accessories or membership fees. International Clients: Duties may be assessed by your country's customs office and are the sole responsibility of the Buyer.
9. Payments by Bidder. We welcome payment by check, eCheck, money order, wire, Paypal, Visa, MasterCard, American Express and Discover (Credit Card/PayPal payments are limited for invoices under US$10,000 only). Wholesale accounts can only pay by check, money order or wire. Payments are due within seven days of the auction end or your commit to purchase using Buy Now. If you are unable to make payment within seven days, please contact GreatCollections to try and make alternative arrangements. For new clients and/or large transactions, GreatCollections may request full or part payment by wire or hold shipments until payments can be verified. GreatCollections may also ask for industry and/or banking references. If GreatCollections cannot verify payment within seven days, GreatCollections reserves the right to cancel the transaction.
10. Non-Payment by Bidder. Bidders personally and unconditionally guarantee all payments that are or become owed to GreatCollections. In the event the Bidder/Buyer fails to make payment when due, GreatCollections reserves the right to rescind the sale or to resell the lots in another auction or private sale. Buyer agrees to pay for all costs associated with reselling the items, including the standard commission rates charged to Consignors by GreatCollections. Any shortfall will become immediately due to GreatCollections by Buyer, together with any attorney costs, collection fees and interest. Bidder grants GreatCollections the right to offset any sum due from any past, current, or future consignment or purchases that are in the possession or control of GreatCollections or any related company. All overdue invoices attract an interest charge of 1.5% per month until invoice is paid in full (unless this rate exceeds the maximum permissible by law, in which case any amount paid in excess will be applied to the principal). To the extent that the winning Bidder for any lot consists of more than one person or entity, each such person or entity is jointly and severally liable for all obligations of the Bidder, regardless of the title or capacity of such person or entity. There is a $30 fee for returned checks. GreatCollections reserves the right to assign its interest to any third party.
11. Shipping. Items will be shipped to the address on file, which you need to confirm when paying online after each invoice. GreatCollections ships using a variety of shipping companies based on insurance levels, cost and service, and in general, you will need to sign for your package. GreatCollections provides limited insurance coverage for loss, theft or damage of coins while in its possession and for shipments it makes to Bidder in an amount as determined by GreatCollections's insurer. In the case of shipping auction and Buy Now purchases to Bidder, the insurance coverage will be for the full purchase price of the coin(s) listed on an official GreatCollections invoice. GreatCollections makes no warranty or representation regarding the adequacy of insurance coverage it provides which is solely as an accommodation to the parties. Any claim by Bidder for loss or damage (1) shall be limited to such insurance as is provided by GreatCollections, and (2) must be made in writing to GreatCollections no later than thirty (30) days from GreatCollections ship date. In the event of a claim, Bidder must comply with all insurance and U.S. Postal Service requirements.
12. Return Policy. On all non-bullion items, GreatCollections offers a generous return policy (unless otherwise marked on the item information page) as a courtesy to Buyers, providing the item is paid for within seven days of the auction date (or in the case of a Buy Now item, when you confirmed to purchase the item) and no request to delay shipment is made by Buyer. To return an item, the Buyer must notify GreatCollections within 24 hours of receipt and receive a return confirmation number. Please mail the coin via Insured Mail to GreatCollections within 72 hours of receipt of coin. Original and return shipping costs are not refunded. Returns will not be accepted without the return confirmation number. Registered bidders are allowed one free return each month. For more than one return in a calendar month, a 5% fee will apply, based on the total purchase price of the item. Clients found to be abusing our return policy will be notified in writing that they will no longer have any return policy privileges whatsoever. If you viewed the item prior to winning the auction or offered the coin for sale to any dealer, collector and/or marketplace, there is no return privilege.
13. Although owning inventory is not GreatCollections core business model, from time to time, we own coins or we own an economic interest in a consignment (e.g. we advanced the consignor payment prior to sale). We reserve the right to include in any auction or for direct sale coins or other items that we have an interest in, whether direct or indirect.
14. NO WARRANTY, EXPRESSED OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, IS MADE IN RESPECT TO ANY ITEM EXCEPT FOR WARRANTY OF TITLE. IN THE CASE OF TITLE, GREATCOLLECTIONS IS SELLING ONLY THAT RIGHT OR TITLE TO THE ITEM THAT THE CONSIGNOR MAY HAVE AS OF THE AUCTION SALE DATE. ALL ITEMS ARE SOLD "AS IS" AND WITH ALL FAULTS. PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND RELATED TO THE GRADING, QUALITY, DESCRIPTION, CONDITION, AUTHENTICITY, AND PROVENANCE OF AN ITEM.
15. Member acknowledges that the rare coin market is speculative, volatile and unregulated, and that coin prices may rise or fall over time. GreatCollections does not offer investment advice and does not guarantee that items will be able to be sold for a profit in the future.
16. These Terms and Conditions of Sale and the auction shall be construed and enforced in accordance with and governed by, the laws of the State of California in Orange County.
17. Arbitration. Any claim or dispute arising out of the sale of coins/items by GreatCollections shall be settled by arbitration between the parties in accordance with the rules of the Professional Numismatists Guild (PNG) or if the PNG cannot or will not hear the matter, by the American Arbitration Association (AAA). Any claim must be commenced within three months of the Auction date or Buy Now confirmation or the claim is waived.
18. GreatCollections reserves the right to amend these Terms and Conditions from time to time. The current Terms and Conditions will always be posted online at www.greatcollections.com/terms.