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 Replies: 9 / Views: 1,463 |
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Rest in Peace
United States
5375 Posts |
People who buy from folks like GSC (greatsoutherncoin) and then "send to PCGS to verify" as if they think they're getting an awesome deal playing the game (as if they're ahead of everyone else and this hasn't been thought of before, lol). Then when they get a bad result they act self righteous and disillusioned. Now obviously GSC and related sellers do overgrade and exaggerate photos, but its a bit silly in my opinion that a lot of people actually try to get money out of something like that when folks like GSC get THEIR money from selling slab rejects and overgraded stuff. Chances are that the coin that was sent to 'verify' had already been sent twice before. I mean, it just shows how easily people will throw around a couple thousand dollars without knowing ANYTHING about what they are buying.
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Valued Member
United States
294 Posts |
I believe advertisements for these things are geared not toward the collector, but more to the poor sap with little knowledge who has a couple bucks to spend. The bad economy helps. I was driving yesterday, listening to the local sports talk channel, and heard no less than four different commercials hawking everything from "Gold Chinese Pandas starting at only $99" to "a recently discovered hoard of brilliant uncirculated 1921 Morgan silver dollars". There was even one selling "$100 coins struck from dies made from previously undiscovered sketches by George Morgan". All touted the "benefits" of investing in gold and silver. All mentioned how these precious metals play a role in the hedge against inflation. All are overpriced (in my opinion). Some of us have the knowledge to tell the difference between an investment and a scam. Most, when it comes to coins, do not. To each his own. As long as people are willing to buy into the hype, someone will be willing to take the money. If it looks like a bad deal to you, move on. That's the only advice I can give. Let someone else pay the piper. Do I think it's "dumb", yes. Is it a good business model? If the seller is making money, then it is. You can't save the world from itself. Edited by omahaorange
08/23/2010 06:18 am
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Valued Member
United States
376 Posts |
Well you know the old saying "A fool and his money are soon parted" PT Barnum and many others (GSC) have made a fortune from it. GSC is slightly more subtle in their deception but the end result is the same.
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Pillar of the Community
 United States
2448 Posts |
Ahhhhh, there's the rub. Now I understand your previous post. I've purchased only one coin from GSC (a SE) and while not dissatisfied, it had a lot of premature toning. It filled a hole. I understand exactly what you're saying. Now if you could only tell me how to get rid of their spam.......
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Valued Member
United States
376 Posts |
Not too many people get an awesome deal from GSC from what I see of their auctions. It seems like they always manage to get very high prices for the coins they sell.
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Pillar of the Community
United States
1659 Posts |
I have bought a couple of coins from GSC and I'll say that I haven't been disappointed, but the only ones I bought were NGC slabbed wheat cents that were relatively inexpensive. Quote:
Now if you could only tell me how to get rid of their spam....... I see I'm not the only one that is tired of their spam! |
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Moderator
 United States
23522 Posts |
Quote:
I mean, it just shows how easily people will throw around a couple thousand dollars without knowing ANYTHING about what they are buying. Quoted For Great Justice. It has ceased to be an amazement to me, after years of watching repeat performances. There is a long line of people waiting who are positively *dying* to throw money without the briefest glance at anything resembling "fact." Many of them then come here to cry about their misfortune with their first forum post. It is regrettable, but a lesson learned in that fashion is a lasting one. |
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Valued Member
United States
380 Posts |
This is a classic case of buy the coin not the slab. Unfortunately there are plenty of people who by the little number at the top of the slab and pay no attention to the coin. Only to find out when it comes time to sell what a mistake they made. ebay has been great and HORRIBLE for collector markets. Fakes, over grading, and fools with money. LOL |
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New Member
United States
1 Posts |
DO NOT buy from GSC! They sold me a Counterfeit! I purchased a 1856 Seated dollar from them. This was a $2,400 coin which was sent NOT insured! That raised my eyebrows even before I opened the package. I looked over the coin and definately questioned its authenticity. I took it to a show and 5 dealers said it was COUNTERFEIT. One dealer was previously a grade for PCI. He said the coin was a class III chinese counterfeit. Very good quality, but definately a fake. I did get my money back, even with my postage both ways. I then started looking in detail at pictures of other Seated dollars they sell. Specifically Proofs. Where do you get 2 to 3 Proof Seated dollars just about every week? Anyhow, since I did not see the proof dollars directly I will not make any adverse claim about their authenticity. But several did not look right and I can assure you I will NEVER buy from them. I gave negative feedack on ebay and the owner called me up to give me hell. I told him I had statements from 5 dealers that the coin was counterfeit. He said that he would get the negative statement removed. I guess he was not successful as its still there (at least for another month). BEWARE! |
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Locked
822 Posts |
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This was a $2,400 coin which was sent NOT insured! That raised my eyebrows even before I opened the package. How in the world would you know from looking at the package? |
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Replies: 9 / Views: 1,463 |
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Posted 08/23/2010 09:57 am
