Any claim or controversy arising out of sales, purchases or trades shall be settled exclusively through binding arbitration with the American Numismatic Association. ANA’s Code of Ethics can be found here: Code of Ethics
About Coin Grades
Uncertified (raw) Coins
Coin grading is an art, not a science. On uncertified coins, any condition, grade or description of any numismatic items sold is the opinion of J Daniel Rare Coins LLC (herein referred to as JDRC Ltd.) and is not a warranty of any kind, including a warranty of merchantability. Whether numerical or adjectival grading is utilized, it represents JDRC Ltd’s opinion as to the particular state of preservation that the numismatic item sold is in, and may not necessarily correspond to the opinion of others. The price for which each item is sold represents the price that the JDRC Ltd. has offered, and the buyer paid, independent of any description by JDRC Ltd.
‘Proof’ is a method of manufacture, not a grade. On pieces struck before 1936, the term ‘proof’ shall
be considered the opinion of JDRC Ltd. Certified Coins
Any and all coins certified by 3rd party independent grading services
are represented as being authentic and assigned a grade, within the
policies and guarantees of said grading services. Any disputes as to authenticity, condition grade, etc. shall be the sole responsibility and must be addressed directly to said grading services. JDRC
Ltd. accepts no responsibility for any disputes of grades, authenticity,
statements of condition, etc.
Individual Policies can be found at:
PCGS Guarantee of Grade and Authenticity:
Purchases of coins, bullion and collectibles involve substantial risk. Historically, there have been periods of varying length during which prices of coins, bullion and collectibles have moved adversely. Market prices are volatile and unpredictable and may be affected by a variety of factors including, among others, general economic conditions, political events, monetary policies of various countries, speculative activity, transactions and events in futures markets and the degree of concern people have about these matters. It is impossible to forecast accurately how or to what degree these or other factors will affect prices.
Purchases of coins, bullion and collectibles should only be made with discretionary funds and not with monies necessary to cover or produce Client's day-to-day living expenses.
Before Client chooses to buy or sell, Client must determine in Client’s own mind Client’s ability to understand the transaction and to meet all financial commitments to be made. Persons with limited investment experience or low incomes or assets should be particularly sensitive to the risk and requirements involved in buying coins, bullion and collectibles.
JDRC Ltd. and its representatives are not agents for Client and owe no fiduciary duty to Client.
Neither JDRC Ltd. nor its representatives can guarantee any market movement.
While JDRC Ltd. intends to maintain a buy and sell market for its coins, bullion and collectibles, there is no guarantee that JDRC Ltd. will continue to do so. In the event that JDRC Ltd. is unable or unwilling to quote firm prices at any time, Client may be obliged to dispose of Client’s coins, bullion and collectibles in another market.
JDRC Ltd. will rely upon instructions and orders given by Client over the telephone. It is the practice of the industry that all trades placed over the telephone are binding contracts and must be honored. Once a trade is placed by Client and accepted by an authorized JDRC Ltd. representative, a contract is created. Trades may be reversed only upon mutual consent of the parties to this Agreement.
In times of highly volatile markets, JDRC Ltd. phone lines may be busy due to the volume of incoming and outgoing calls. It is also possible for telephone lines to fail for reasons beyond JDRC Ltd's control. Because of this, Client is advised and will be responsible to have alternative methods to communicate with JDRC Ltd. (e.g., e-mail, courier messenger service, etc.) should it become necessary to do so.
Client is solely responsible for all purchasing, selling and borrowing decisions for Client’s account. This means Client makes and is responsible for all Client’s trading decisions. If Client believes that any representative of JDRC Ltd. has made a verbal or written representation that is inconsistent with the terms or risks set forth herein (e.g., "At its current price, your coins, bullion and collectibles can only go up in value.") or is offensive or unprofessional in nature (e.g., high pressure or unresponsive to requests), Client will notify JDRC Ltd. in writing immediately. If Client fails to make the required notification by the tenth (10th) business day following the date on which the event first became known to Client, Client waives all right to contest such order, matter or omission and Client's account will stand, as is, as of the end of such business day.
Tax consequences of transactions with JDRC Ltd. are the sole responsibility of Client. Client shall pay to JDRC Ltd. any sales, use or other tax applicable to transactions with JDRC Ltd. Commodities delivered to depositories located outside California for Client are intended for use by Client outside California. If physical possession of such coins, bullion and collectibles is taken subsequently by Client within California, sales and use tax may apply, depending upon the commodity purchased.
Client is a sophisticated investor who understands that coins, bullions and collectibles can be purchased from and sold to competitors of JDRC Ltd..
All communications shall be sent to JDRC Ltd. at 236 W. Portal Avenue #303, San Francisco, CA 94127. All communications given by JDRC Ltd. to Client by mail shall be effective forty-eight (48) hours after deposit in the United States mail, postage prepaid, or upon receipt, whichever is earlier; if hand delivered, when delivered to Client's address; if telephonic, at the time of such phone conversation or facsimile transmission; or if by e-mail, on the day of transmission.
In the event of adverse conditions in the marketplace or other factors beyond the control of JDRC Ltd., including, but not limited to, acts of God, national emergencies, adverse governmental actions, or suspension of trading of silver, gold, platinum or other metals by U.S. commodity exchanges, or the delivery of the coins, bullion and collectibles underlying such contracts, or the failure or delay of suppliers, the maximum time for delivery of such coins, bullion and collectibles may be extended indefinitely during the period of such adverse circumstances. JDRC Ltd. will not be responsible for delays or failures in the transmission, receipt or execution of orders, payments, deliveries or information due to the incapacity or failure of computer, transmission or communication facilities which are beyond the control of JDRC Ltd.
Client agrees that JDRC Ltd. may monitor and may electronically record any conversation between JDRC Ltd., its employees or agents and Client or Client’s agents.