(U.S. Coins) Catalog - Stack's Bowers

Terms & Conditions (cont.)or such other amount as Stack’s Bowers may, in its sole and absolute discretionrequire before any bids from such Bidder will be accepted. Deposits submittedwill be applied to purchases. Any remaining deposits will be promptly refunded,upon clearance of funds. It is the Buyer’s responsibility to contact Stack’s Bowersafter the sale to make shipping and packaging arrangements. Due to the fragilenature of some lots, Stack’s Bowers may elect not to assume responsibility forshipping or packing, or may charge additional shipping and handling. Lots indicatedas being “framed” are shipped at Buyer’s risk. All taxes, postage, shipping,if applicable, handling, insurance costs, the Buyer’s Premium, and any other feesrequired by law to be charged or collected will be added to the invoice for anylots invoiced to Buyer. All lots will be shipped FOB Destination, freight prepaidand charged back. Title and risk of loss pass to the Buyer at the destination upontender of delivery. Acceptance of delivery constitutes acceptance of the purchasedlots. Inspection of the purchased lots is not required for acceptance. Any and allclaims based upon Buyer’s failure to receive a purchased lot, Buyer’s receipt of alot in damaged condition, or otherwise related to delivery, must be received inwriting by Stack’s Bowers no later than the earlier of forty-five (45) days afterpayment, or the date of the Auction Sale (the “Outside Claim Date”). As Buyersmay not receive notification of shipment, it is Buyer’s responsibility to keep trackof the Outside Claim Date and make timely notification of any such claim. Thefailure to make a timely claim, time being of the essence, shall constitute a waiverof any such claim.Buyers will be charged all applicable sales tax, including Buyers who pick upat this Auction or shipments to Buyers in California and New York withouta valid Resale Certificate which has been provided to the Auctioneer priorto the auction. Please note that the purchase of any coin or bullion lot(s)with a price, including the Buyer’s Premium, in excess of: (i) One ThousandDollars ($1,000), for auctions held in Maryland, are exempt from Marylandsales tax, (ii) One Thousand Dollars ($1,000), for auctions held in Louisiana,are exempt from Louisiana sales tax, and (iii) One Thousand Five HundredDollars ($1,500) are exempt from California sales tax. These exemptions donot apply purchases of currency. Purchases of coins and currency are exemptfrom sales tax in Illinois. Purchases of coins and currency are exempt fromsales tax in Pennsylvania. On any tax not paid by Buyer that should have beenpaid, even if not collected by Stack’s Bowers by mistake, error, negligence or grossnegligence, Buyer remains liable for and agrees to promptly pay the same on demandtogether with any interest or penalty that may be assessed.6. Financial Responsibility. In the event any applicable conditions of theseTerms and Conditions of Auction Sale herein are not complied with by a Buyeror if the Buyer fails to make payment in full by the Default Date, Stack’s Bowersreserves the right, in its sole discretion, in addition to all other remedies whichit may have at law or in equity, to: (a) rescind the sale of that lot or any other lotor lots sold to the defaulting Buyer, retaining all payments made by Buyer as liquidateddamages, it being recognized that actual damages may be speculative ordifficult to compute, or (b) resell a portion or all of the lots held by Stack’s Bowers,in a commercially reasonable manner, which may include a public or private sale,in a quantity sufficient in the opinion of Stack’s Bowers to satisfy the indebtedness,plus all accrued charges, and Stack’s Bowers may charge a seller’s commissionthat is commercially reasonable. More than one such sale may take place atthe option of Stack’s Bowers. If Stack’s Bowers resells the lots, Buyer agrees to payfor the reasonable cost of such sale, together with any incidental costs of sale,including reasonable attorney’s fees and costs, cataloguing and any other reasonablecharges. Notice of the sale shall be by U.S.P.S. Certified Mail, Return ReceiptRequested to the address utilized on the Bid Sheet, Auction Consignment andSecurity Agreement or other last known address by Stack’s Bowers. The proceedsshall be applied first to the satisfaction of any damages occasioned by Buyer’sbreach, then to any other indebtedness owed to Stack’s Bowers, including withoutlimitation, commissions, handling charges, carrying charges, the expenses ofboth sales, reasonable attorneys’ fees, costs, collection agency fees and costs andany other costs or expenses incurred. Buyer shall also be liable to Stack’s Bowersfor any deficiency if the proceeds of such sale or sales are insufficient to coversuch amounts.Buyer grants to Stack’s Bowers, its affiliates and assignees, the right to offset anysums due, or found to be due to Stack’s Bowers, and to make such offset from anypast, current, or future consignment, or purchases that are in the possession orcontrol of Stack’s Bowers; or from any sums due to Buyer by Stack’s Bowers, itsaffiliates and assignees. In addition, defaulting Buyers will be deemed to havegranted to Stack’s Bowers, its affiliates and assignees, a security interest in: (x)the purchased lots and their proceeds, and (y) such sums or other items and theirproceeds, in the possession of Stack’s Bowers, its affiliates or assignees, to secureall indebtedness due to Stack’s Bowers and its affiliated companies, plus all accruedexpenses, carrying charges, attorney fees, and costs, until the indebtednessis paid in full. Buyer grants Stack’s Bowers the right to file a UCC-1 financingstatement for such items, and to assign such interest to any affiliated or relatedcompany or any third party deemed appropriate by Stack’s Bowers. If the auctioninvoice is not paid for in full by the Default Date, a carrying charge of one-andone-halfpercent (1-1/2%) per month may be imposed on the unpaid amountuntil it is paid in full. In the event this interest rate exceeds the interest permittedby law, the same shall be adjusted to the maximum rate permitted by law, andany amount paid in excess thereof shall be allocated to principal. Buyer agrees topay all reasonable attorney’s fees, court costs and other collection costs incurredby Stack’s Bowers or any affiliated or related company to collect past due invoicesor to interpret or enforce the terms hereof or in any action or proceeding arisingout of or related to the Auction Sale. Stack’s Bowers reserves the right to assign itsinterest to any third party. To the extent that the Buyer for any lot consists of morethan one person or entity, each such person or entity is jointly and severally liablefor all obligations of the Buyer, regardless of the title or capacity of such personor entity. Stack’s Bowers shall have all the rights of a secured party under theCalifornia Uniform Commercial Code and all rights of the consignor to collectamounts due from the Buyer, whether at law or equity.7. DISCLAIMER AND WARRANTIES. NO WARRANTY OF MERCHANT-ABILITY OR FITNESS FOR A PARTICULAR PURPOSE IS MADE OR IMPLIEDON ANY LOT. NO WARRANTY, WHETHER EXPRESSED OR IMPLIED, ISMADE WITH RESPECT TO ANY LOT EXCEPT FOR WARRANTY OF TITLE,AND IN THE CASE OF TITLE, AUCTIONEER IS SELLING ONLY THAT RIGHTOR TITLE TO THE LOT THAT THE CONSIGNOR MAY HAVE AS OF THE AUC-TION SALE DATE. ALL LOTS ARE SOLD “AS IS” AND WITH ALL FAULTS.PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND RELATEDTO THE GRADING, QUALITY, DESCRIPTION, CONDITION, AUTHENTICITY,AND PROVENANCE OF A LOT.a. COINS LISTED IN THIS CATALOG GRADED BY PCGS, NGC OR ANACS CA-CHET, OR ANY OTHER THIRD PARTY GRADING SERVICE OR EXAMINEDBY THE BUYER PRIOR TO THE AUCTION SALE MAY NOT BE RETURNEDFOR ANY REASON WHATSOEVER BY ANY BUYER, EXCEPT FOR CLAIMSRELATED TO AUTHENTICITY.b. For non-certified coins that have not been examined by the Buyer prior tothe Auction Sale: if it is determined in a review by Stack’s Bowers that there is amaterial error in the catalog description of a non-certified coin or the coin is notauthentic, such lot may be returned, provided written notice is received by Stack’sBowers no later than seventy-two (72) hours of delivery of the lots in question,and such lots are returned and received by Stack’s Bowers, in their original, sealedcontainers, no later than fourteen (14) calendar days after delivery, in the samecondition the lot(s) were delivered to the Buyer, time being of the essence.c. If an item or items are returned pursuant to the terms herein, they must behoused in their original, sealed and unopened container.d. Late remittance or removal of any item from its original container, or alteringa coin constitutes just cause for revocation of all return privileges.549