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Not Sure If Anyone Else Has This Happen To Them Or Not

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Valued Member
United States
137 Posts
 Posted 07/24/2011  7:40 pm  Show Profile   Bookmark this reply Add oldno7 to your friends list Get a Link to this Reply
I had an older gentleman, in line behind me, at the grocery store when I spent some Presidential dollars and he told me they had gold in them. When I informed him that they did not he was very defensive and thought that I was stupid. I just shook my head and left.
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Jayman931's Avatar
United States
2651 Posts
 Posted 07/24/2011  7:53 pm  Show Profile   Bookmark this reply Add Jayman931 to your friends list Get a Link to this Reply
Tell him to sell it on ebay.... Real Gold Presidential dollar! Then laught at him when it sells for .50 cents...
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Tim Stroud's Avatar
United States
2661 Posts
 Posted 07/24/2011  8:02 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
One guy I work with was going down to the bank and buying rolls of prez dollars when they first came out. He would get 8 rolls every payday which was every 2 weeks. I saw him in the back getting some and asked why he was buying them, he responded that he liked them that is why. The next day at worked he came over to tell that I should be getting all that I can because each one was 1oz of gold and it was only a $1. Gold is going up he said so you can get real rich real quick, but not to tell anyone one else. I just acted surprised and told him thanks for the tip.
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DavidZerbato's Avatar
United States
1081 Posts
 Posted 07/24/2011  8:49 pm  Show Profile   Bookmark this reply Add DavidZerbato to your friends list Get a Link to this Reply
Very entertaining story. I agree that people shouldn't be faulted for specialized knowledge, which IMO coin collecting is. However, I am surprised at how addement people are when you tell them the facts. I guess they would rather stick to their beliefs then look dumb. Your friend came to you because you had knowledge of coins, and still didn't trust you. I don't think it's just your friends, but that's the average American.
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rachums107's Avatar
United States
3345 Posts
 Posted 07/24/2011  9:48 pm  Show Profile   Bookmark this reply Add rachums107 to your friends list Get a Link to this Reply

Quote:
I guess they would rather stick to their beliefs then look dumb.


Very true, and sometimes the first thing someone hears or thinks of is what they will fight to the death for, even if they doubt it.
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Ricardocody's Avatar
United States
1204 Posts
 Posted 07/24/2011  11:10 pm  Show Profile   Bookmark this reply Add Ricardocody to your friends list Get a Link to this Reply
You wanna rear a good one ?!
After search halves I pay whatever I buy to make easier my dump (gas, cigarrets etc )
I went to a subway for lunch and paid with halves , the indian guy who is a very nice guy and own the store said to another indian guy .. Ohh look silver dollars ! So he asked me if I want him to cash the rest then I answered sure and if you want more I can give you as much as you want ! So I went back on the car and brouth $300 worth on halves that I had and he was more then happy , cash it to me and said anytime !
Next day I came back for lunch and he was not so friendly after I asked him if he want some more he said : NO THEY ARENT SILVER !lol
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Ricardocody's Avatar
United States
1204 Posts
 Posted 07/24/2011  11:29 pm  Show Profile   Bookmark this reply Add Ricardocody to your friends list Get a Link to this Reply
Another one ?!
Last month I passed at wawa and the wawa girl told me .. It ll be $2.25 ! So I gave her 5 halves then she looked at the coins and looked very serious on my eyes and said : and what is it ? I said .. Halves . Half dollars ! So she checked again the coins and told me : you are short on 25 cents ! I said let me see the coins then look half plus half = $1 , half plus half =$2 +half = $2.50 you own me a quarter ! She told me : I know what half is then gave me the change and the other customers in line were laughing from the whole thing !
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Chadwick's Avatar
United States
271 Posts
 Posted 07/25/2011  12:11 am  Show Profile   Bookmark this reply Add Chadwick to your friends list Get a Link to this Reply
On not less that 4 occasions I've had people present me, what they thought was solid gold coins, Presidential dollars and the like.

The average Joe does not have any idea what is valuable and what is not. I see the local "hotel bandits" taking advantage of people all the time. I try to tell them, but often my advise comes to late. I am happy that there have been occasions where I have stated my opinion and have kept a few poor folks from being taken advantage of.

I always offer fair market value when I buy from co-workers. A recent story was a girl at a quick-mart wanting to sell me silver spoons. I examined them and figured they were worth $200 in bullion. I offered $180 and told her the market value. She declined my offer. She ended up selling them to a collector for $300. I applauded her when she told me of her profit. I openly admitted that I could not have paid that and she did the right thing.

I offer less than market value, but I always inform them of what market value is. Its principle. Do not be a thief. Those hotel bandits are thieves. I will not be like them. I offer a price, and inform what the market value is. Collectors will always offer more, if they want it. But I'm not a collector, I'm a hoarder. And I prefer coins. Spoons are nice, but coins are gold....so to speak.
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amassey08873's Avatar
United States
584 Posts
 Posted 07/25/2011  03:07 am  Show Profile   Bookmark this reply Add amassey08873 to your friends list Get a Link to this Reply
Great topic and posts, When I started collecting coins about 3 short years ago. One of the first things I bought was 20 Dateless Buffalo nickels. The description said Hurry and buy now before silver gets any higher. Even though they were dateless I knew they were pre65. I won the bid at $23, I was so excited I found 3 similar lots and bought them too. Needless to say I thought I was doing good. So when my father questioned my small silver hoard, I showed him all my Buffalo nickles and he couldn't stop laughing, I though it was due to the amount, but he quickly let me know my error. Good thing I had some junk silver to save some dignity. lol

Chadwick I'm the same way. I've witnessed coin shops pull the rug out from under people who clearly needed the money. Theirs one dealer who sells commemorative's still in the capsules. Out of a big tote, for under melt. Some really good deals, but I won't go back into his store from the things I seen him do. The last one was an old man selling 22karat solid gold necklaces 48grams worth. The dealer offered $400 quietly, but the elderly man repeated it. The dealer swore it was a good deal, nowhere else was going to offer him that much. And that it was old, none of those styles were in anymore. The man tried to sell just 1 but the dealer said no its not worth it, all or nothing. Luckily the man picked up on a few patrons shaking their heads. And left. Gold was around S1300 at the time.
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wrestling_135's Avatar
United States
802 Posts
 Posted 07/25/2011  03:16 am  Show Profile   Bookmark this reply Add wrestling_135 to your friends list Get a Link to this Reply
Oh I love those types of stories. Yes I started coin collecting just this year and I am amazed at how much the average person doesn't know.

They know I collect coins at the bank and one of the tellers secretly pull out a wheat and ask me "what's this worth?" thinking he struck gold. It was just a basic wheat in average condition, I said "3 cents tops". He was surprised.

I've had others ask me about a "unique" coin and say, well it has a P on it, that has to be special right? And then I explained the mints to them lol.
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wrestling_135's Avatar
United States
802 Posts
 Posted 07/25/2011  03:20 am  Show Profile   Bookmark this reply Add wrestling_135 to your friends list Get a Link to this Reply
I agree Chadwick, I am like you. There aren't very many honest people like us out there. I've heard of and seen people screw people over so bad, it's sad.
Valued Member
United States
460 Posts
 Posted 07/25/2011  10:11 am  Show Profile   Bookmark this reply Add dumprat to your friends list Get a Link to this Reply

Quote:
I offer less than market value, but I always inform them of what market value is. Its principle. Do not be a thief.




I then explain why I am buying for less. I also tell them that the price is good for 1 week just in case they want to check other places. Most people sell on the spot.

The worst people are the bullion people though. I try to explain that I am not a bullion person so I don't care how much silver is in a dateless Standing Liberty quarter. Some get it some don't
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allranger's Avatar
United States
1391 Posts
 Posted 07/25/2011  10:36 am  Show Profile   Bookmark this reply Add allranger to your friends list Get a Link to this Reply
Went into the coin shop last week and the guy handed me back a $2 bill with the change. He kind of joked about it being valuable and I told him it was probably one I used to pay for a purchase the other day. He laughed and showed me a whole stack of them and said everybody was bringing them in because they thought they were valuable. That got use talking about what people hold onto thinking they are worth a whole lot more than they are. Then he pulled up a huge bag of Presidential dollars. Probably $500.00 worth of them. Some people brought them in thinking they were gold...
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SilverRoosevelt's Avatar
United States
917 Posts
 Posted 07/25/2011  1:41 pm  Show Profile   Bookmark this reply Add SilverRoosevelt to your friends list Get a Link to this Reply
When I pay with Anthony dollars, some people call them "silver dollars," and I tell them that we haven't made a circulating silver dollar since 1935. I've only had two people think that dollars made since 2000 were made of gold, but I told them, "If they were truly made of gold, we wouldn't be seeing them widely available from banks, for only $1."

Another time, people I've run into mix up U.S. Notes and Silver Certificates, and there was this one teller at a bank who swore she saw a blue-seal $2, and was adamant about it, but I told her that the U.S. never printed small-size $2 silver certificates, only U.S. Notes and FRN's.

Sometimes, when I point out an old coin or an odd-looking one to people, they get interested in it. For example, when I was dumping dimes after a search, the bag in the machine had to be removed, and I noticed the reverse of a Mercury dime in it. I asked if the tellers could open it and pull that dime out, but they said they could not. But eventually, they pulled it out just for me (hours after I left, I returned to the bank for something else), and after I explained the design and mentioned the key date of 1916-D, they did some research learned about the miniscule mintage (The Mercury dime they found was a 1940). So, sometimes, properly informing people, and if they're willing to listen, can bring people into the hobby.
Edited by SilverRoosevelt
07/25/2011 1:43 pm
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yankee1227's Avatar
United States
1151 Posts
 Posted 07/25/2011  2:15 pm  Show Profile   Bookmark this reply Add yankee1227 to your friends list Get a Link to this Reply
I've had the same experience when my couson came to me saying she had 30 silver dollars. She came to me with 15 SBA and 15 Ikes. I calmly said to her that these were made of copper and nickel...so she took them and then pelted me with them...
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