What's Wrong With This Auction For An 1843 CC Seated Dollar?

This is the tragic part. It was probably set at something rediculous for reserve with no intention of actually completing the auction. Reserve at $1000 or such knowing full well it wouldn't reach completion.

He will most likley now send an offer to the bidder to complete the purchase directly....If buyer takes the bait they will have no recourse.

Downright dirty.

Who would fall for such an obvious fake? Who in their right mind would bid it up so high?.....

People like our Wives/Husbands, Girlfriends/Boyfriends, and friends that hear us drool about coins.

They can't retain all the tiny details but they know certain words they hear us spouting about. "Morgan dollar, SVDB, Trade dollar, CC, Carson City mint, Doubled Die" the list goes on and on but the waters are packed with folks that you might think are idiotic. But not at all, they are most likely trying to get a gift for someone and trying to keep it secret so they jump in with almost no idea what they are buying.

A note to all collectors- If any friend or family asks transparent questions about what coins your looking for, out of the blue specific questions about mint marks or key dates ect.... please explain to them how shark infested the waters are that we troll for coins. It is no place for the uneducated buyer. No matter how great the intentions are. Thank them, tell them how much you love and appreciate the thought that they want to do such a thing, but STOP them from getting ripped off.

Millions of passionate collectors....so naturally millions more that are friends and family that don't collect but THINK they are going to give you a coin that will give you a heart attack when you open the gift.

Think about it. Just downright dirty, but easy prey....

-RFB

(I also reported this auction but never got a resolution response. I did get the "We are investigating" response. This is the direct correspondence to the seller.)


Subject: You've received an answer to your question about item 1843 Seated Liberty dollar! Incredible Detail BEAUTIFUL Received: Sep-02-09
From: moe145 Expires: Oct-02-09
To: sonnyc420
ItemId: 250490882563
ebay sent this message to moe145.
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Buyer has responded to your question about this item

Do not respond to the sender if this message requests that you complete the transaction outside of ebay. This type of offer is against ebay policy, may be fraudulent, and is not covered by buyer protection programs. Learn More.

Dear sonnyc420,

So what are you telling the bidders on this coin? You know, Carson City NEVER minted a Dollar Coin of this variety in 1843. It is obviously a counterfeit.

- moe145

1843 Seated Liberty dollar! Incredible Detail BEAUTIFUL
Item Id: 250490882563
End time: Sep-02-09 21:40:07 PDT
Buyer:
moe145 (1169)
100.0% Positive Feedback
Member since May-08-02 in United States
Location: TX, United States

Listing Status: This message was sent while the listing was active.


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Absolutley another win.

This makes my day that it got pulled in the time. Some collector, or collector's family member just got saved from a 400.00 punch in the wallet.

-RFB

I also always use the fraud reporting link on the forum, it gets the fastest result. If we all stay alert and warn each other, we can protect ourselves. That is one of the beauties of a site like this.

First of all, great job by everyone getting garbage like this off ebay. People like this ruin the hobby for those of us that are honestly selling quality properly graded genuine coins.

Now my question.

ebay pulled the auction; GREAT! Let's say the seller checks the auction frequently while it is still active, and keeps track of the email addresses of those that bid. What is to keep the seller from trying to contact the bidder that was the current top bidder after the auction has been pulled; make some absurd claim that ebay stopped his auctions because of, let's say "some accounting problem which I am currently working with ebay to clear up" and tells the top bidder that he is still willing to offer the coin to him/her, and for the inconvenience of the auction being stopped knock an additional 10% (or something like that) off the amount the person had bid, just to try to further entice the top bidder to close the deal? I admit, it would take an idiot to fall for something like that, but as all of you know, ebay is full of idiot buyers! Comments?

ebay does say time and time again to not engage in transactions outside the protection of ebay. Most folks familiar and experienced with ebay consider this as ebay just trying to not lose out on the auction fees.

Many still do circumvent the system as a habit. Even I myself am guilty of just emailing directly and asking the seller to name a price to sell outright.

I stand true to how shark infested the waters we swim in really are. Put up all the signs and warnings you like. The two categories of buyer will still use the schools of thought to rationalize and justify circumventing the system.

Educated buyers recognize the risk, know what they are buying and trust the seller/have relationship with the seller perhaps. They jump outside ebay to save the money. Saving 10-15% is huge when quantified on larger purchases.

Uneducated buyers will just see the perception of savings. People still will go for it thinking they are going to blow your doors of with the new gift only now at a bargain. Even better!

No argument here but back to my original point.

My wife is not very trusting of strangers, email or otherwise I don't think she would do it without at least channelling it through ebay as a BIN offer direct to her. She is aware of how the protection works and what is covered under the transaction guidelines. I have a long history with buying and selling larger items on ebay so at least my wife has seen me go through the system's loopholes and protection limits several times when deals have gone south.

My wife I think is more cautious than most simply because she lives with me. I always look for the loose ends of angles and have long preached never to follow something because it is just such a deal. Never convince yourself to overlook anything in a transaction just because the carrot is so great at the end of the string.

So for most other wives/husands I say yes, they would walk right into the soup unknowingly. Get burned without recourse. Lots of fish in the sea for sellers to burn, even if they can only get one shot at them.

The positive in the situation is when you can crush a fraud auction, you kill the exposure of it to more potential victims. Or at very least limit it.

-RFB