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 Replies: 19 / Views: 3,046 |
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Valued Member
United States
470 Posts |
The deal is simply that you just paid more than $.50 for 50 cents.
Don't keep doing it....duh.
Edited by Andrew289
03/01/2013 2:44 pm
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Pillar of the Community
United States
1721 Posts |
Let's not all pile on samQ. He's a new member and we don't need to scare him away.  Sometimes we want to believe what isn't there. More than likely, we have all made a bad purchase or two (or three). I know I've had my share. My friend once told me that you're not a real picker unless you make some mistakes. Yes, not the same ones twice but honest mistakes. Stick around Sam. There is much to learn from this forum. Edited by mds308
03/01/2013 2:55 pm
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Rest in Peace
United States
4078 Posts |
 and a big |
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Valued Member
United States
158 Posts |
Welcome to the forum Sam. And yes, they have been scamming people this way for years. And this type of scam does not just occur in coin collecting. It occurs in many other collecting type hobbies. HH and GL
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Pillar of the Community
United States
3453 Posts |
samQ! |
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Pillar of the Community
United States
3755 Posts |
Actually, you did NOT pay more than 50 cents for 50 cents. The coins on the ends of those rolls are worth more than 50 cents by far. It is a simple rule to follow on those rolls. Bid ONLY based on what is shown on the ends. If there is a FE there you like, bid to the appropriate amount, say 30 bucks, for that coin. STOP at the amount that coin is worth. Simple. I have gotten a couple of these rolls and lost bids on many more because I won't go over that amount. The couple I have gotten had exactly what was pictured on the end, and decent but common date pennies for the rest. If you operate under those rules, the rolls are actually not a bad deal. And Edited by smokeriderdon
03/01/2013 8:44 pm
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Valued Member
United States
380 Posts |
I have a roll of searched pennies with a mystery dime somewhere inside! 1916d? you don't know! Any takers?
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Rest in Peace
United States
10625 Posts |
to CCF samQ! |
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Pillar of the Community
United States
1227 Posts |
Sam, Please allow me to give you a piece of advice from my grampa, who is a very wise man: "If it looks too good to be true, it is." These lots are scams, flat out. By making you believe the roll could be worth thousands of dollars, the seller bumps bids up into the hundreds of dollars . . . for a roll that's really worth about $50, max. Unfortunately, this is perfectly legal because of the reasons pointed out above ("Unsearched . . . I MEAN FOR DIE VARIETIES" "Unsearched . . . by me" "It's a 1909! Is it an S?"), but highly unethical. Do yourself a favour . . . . stick around, learn, and let some of the experts here point you in some good directions. I'd rather pay ten bucks for an honest rare-date problem coin as a hole filler than pay the same ten bucks for an "unsearched" roll. At least with the problem coin, I know what I'm getting. |
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Pillar of the Community
United States
9796 Posts |
When ebay surpassed a billion bids every month, nothing surprised me - and that was years ago. As P.T. Barnum is credited - "There's a sucker born every minute"I bought one of these rolls on a whim once, and actually wasn't half bad some teens and twenties a nice fine 1800's Indian and an EF Seated dime with issues big scratch on the obverse. Oh well I paid less than I ended up selling them, but didn't make more than a few dollars. Plus I still have a bunch of the common Wheaties left over. The wrapper roll was actually pretty old, and not a modern made one, so I'm keeping a new roll of cherried Lincolns wrapped in it, maybe they'll become toned monsters in a couple of decades.  Overall I think a lot of the bids are by "spur of the moment" type purchases, mine was. I was browsing coin auctions ending on ebay that night and saw it, the roll was cheap enough and thought "what the heck" took a chance not really caring if I won or not - I won  "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Pillar of the Community
United States
1536 Posts |
You have to remember, real old rolls of pennies don't all have dimes, tokens, or other denominations placed at the end. I have bought unsearched items from ebay that were not advertised as such (I bought 200 V nickels that had a Shield nickel mixed in). If I buy a bag of wheat pennies at the coin shop or show and don't search them, they have been unsearched by me but you know the dealer searched it. Unfortunately those rolls don't have much in them I would imagine, just wheat cents worth 2 to 3 cents a piece. You can get the same thing at the bank in there rolls. Those rolls are really gambling and you know what they say about that, the house always wins. Edited by buddy16cat
03/02/2013 04:11 am
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Pillar of the Community
United States
3283 Posts |
Quote:
All my purchases have proven that way scam me once shame on you, scam me twice shame on me. Hopefully you haven't spent too much money on the lesson. If I was to buy a "unsearched" roll my top price would be: Value of the know end coins (already risky because you only get to see one side) plus value of 48 common wheats ($.04 ea.) Not that I have bough any rolls, I have enough common wheats. |
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Pillar of the Community
United States
1536 Posts |
I know that I used to get calls from a local bank who got too many customer wrapped penny rolls. I could get a pile of common wheats out of them at face value. I wouldn't even pay 4 cents a piece for common wheats, at most 3 cents but would probably bid face value for them plus the value of the ends. When common wheats are part of any lot, I tend to ignore them and am after something else. They go into my Whitman book if I need them or get tossed in a coffee can with my roll finds.
Edited by buddy16cat
03/02/2013 6:16 pm
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Valued Member
United States
82 Posts |
Unfortunately Some people will do anything for a buck, so it is buyers beware. I am as guilty as the next, buying an unsearched roll of Buffalo nickels, and got mostly duplicate dates. Cant blame anyone, but hardly worth the premium price. Anybody want to trade for some Buffalo nickel, not many dates but I can make lots of trades! |
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Pillar of the Community
United States
1536 Posts |
I can't blame people for falling for "unsearched rolls" hoping to score big. Look at this lot of IHC I just bought. I have no clue what dates are in this lot and no clue about the condition of most of them although I know they are all brown so it is unlikely they were harshly cleaned. The seller claims there are coins from the 1880s, 90s and 1900s and possibly older but he couldn't tell because his eyesight isn't good. My eyesight is good and I have a a jeweler's loupe. I always fall for the bad picture and sometimes it works well but a couple times the coins were junk. http://www.ebay.com/itm/17099565140....m1497.l2649 |
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Posted 03/01/2013 2:54 pm
