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 Replies: 53 / Views: 16,187 |
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Valued Member
Canada
173 Posts |
They are buyers not collectors. Businesses are based on providing a service, in this case: allowing people not into collecting numismatics a place to sell for more than face value.
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Valued Member
Canada
263 Posts |
I buy "junk" silver all the time at 16x 18x face depending on where the market is. Next time these thugs come to My town, I will gladly "leach" off of them. Offering someone 4x what they would get from those crooks is a win/win for everyone.
*PAYING 18X FACE VALUE!*
I will make sure to be on public property but within eyes reach of everyone who goes in. See how they like that.
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Pillar of the Community
1844 Posts |
@ youngloonie... You are so wrong... The people they buy for are in fact big Collectors..Dont think that if they scor an 1890h half in EF that its going on ebay..IT will go in either their personal collection or to one of the many Coin Stores they operate |
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Pillar of the Community
Canada
3692 Posts |
You don't have the "right" to commit fraud on people just because they have a legitimate business licence. That would be a licence to commit fraud. And since the RCMP basically turns their heads, it basically IS.
Having a market where the buyers' service is to buy from the public is OK. It is not OK when this business is being unethical and undercutting every legitimate business from doing the same and thus bringing prices DOWN for everyone. This is the very definition of being unethical. If you don't get it, what can I say, you can't fix stupid.
This information on these predators MUST go public. Ignorance is not an excuse, just because you "know more". The practice should be that a dealer should make an offer and back it up with experience, knowledge, and reputation, and if the seller doesn't like it they can go to their competitor who will tell them the exact same thing. It's illegal in Canada to fix prices in an industry, and it's unethical to undercut everybody else and destroy said industry.
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New Member
Canada
9 Posts |
First of all,thanks for this site!
I had no idea it even existed until now.
I was attempting to find info about the Canadian Coin Association when I ran across this thread through google.
I figured they were scam artists as they ran an add in our local paper that made some red flag's go up.
Last time I went in to see them,they were under the "Great Canadian Road Show".
I took in some nice coins that I knew were worth a few bucks(hundred's),They were kind enough to offer me silver spot. I just shook my head and left.
I couldn't believe the older people who were literally giving away their item's.
I am in the process of attempting to warn people of the underhanded tactic's used by these people to literally steal their stuff.
Again,thanks for this site,it has already come in usefull and I didn't even know it existed.
Hopefully I can contribute in a positive way..
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New Member
Canada
9 Posts |
Just got back from attempting to get my $1500 minimum pay-out for a solid 1 ounce .9999 gold coin. I knew they were liars but didn't realize the extent they would go. I was offered far less than the add advertises. They came up with excuses like,well gold has dropped since the flyer came out. Gold has dropped,but it was still less than their advertised pay-out. When I called the woman out on their scam targeting elder's and people with no knowledge of their valuable's,the woman claimed they were a top rated business with the better business bureau. Lol. I told her they were not even registered at the BBB and they have no rating. here; http://www.bbb.org/kitchener/busine...o-on-1291943She then told me to "GET OUT"! Lol. I told her they were nothing but Gypsy's who scam people out of their precious metal's and then blow town before people catch on. I talked to someone else that had a few 67 Canada goose silver dollar's they were attempting to sell,he told me the Canadian Coin Association told him that he may as well just spend them. LOL! |
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Pillar of the Community
United States
629 Posts |
Of course I see this type of ad in the Chicago Tribune all the time, 2 page ads of what they say they will pay. As a collector I know better than to sell my things there. But I do know of an older gentleman in our coin club that did sell his coins there. He just got fed up with things and decided to get rid of what he had. Full rolls of circulated wheat cents got him 51 cents each roll. I asked him why and he just didn't trust anyone at the coin club (he had a bad experience) and I don't think he has any family. Which brings to mind, these freak shows that buy this stuff are just in existence to capitalize on people who walk in with something and walk out with a lot more than that had an hour ago. That old thing is worth something! Wow, look what I got. We will never be able to educate these people.
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New Member
Canada
5 Posts |
Having paid adds placed in local papers is one thing but getting endorsed by that publication is quite another. Everytime I have seen their full page or two of adds in the local paper there an accompaning write up suppoting it. That really gives misplaced credibility to the unknowing....
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Pillar of the Community
Canada
548 Posts |
I have little use for such operations, but in a lot of cases people, seniors especially, are glad to see them, because they simply know of no other way to sell their old coins.
For many seniors this is ideal. If they aren't near a major city, aren't computer savvy, their family doesn't want their collection (or they don't want their family to have them) where else can they sell their coins? Company comes to town, they walk in with coins they don't want and leave with cash in hand. Sure, we know they're getting ripped off, but they don't care because they've got some cash.
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Moderator
  Canada
10458 Posts |
Quote:
Sure, we know they're getting ripped off, but they don't care because they've got some cash. Seriously? If I could begin to post how I really feel about your statement, the CCF moderators would send me on vacation for a long time... "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
Canada
849 Posts |
Quote:
Sure, we know they're getting ripped off, but they don't care because they've got some cash. Wow... |
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Pillar of the Community
Canada
3234 Posts |
It's sad to see such apathy in our everyday lives. True rip off artists with a license to continue doing it.
My rule of thumb is ..." Seller Beware".
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Pillar of the Community
Canada
548 Posts |
I am not referring to anyone who is simply too lazy and/or dumb to do a bit of basic research to see what their coins are worth, because anyone who can do that will come across more legitimate dealers who will give them a better deal. Those kind of people deserve what little they get.
That said, I really don't think some here understand the plight of some seniors. They NEED the money. They HAVE something to sell. They KNOW it has SOME value to SOMEONE - but their world is pretty limited, and they know of no one who will even buy what they have. So a company comes along and offers to buy their treasures. Of course they don't get a fraction of what their coins, or jewelry, or other valuables etc. are worth, but they need the money and something is better than nothing. I'm sure many are kicking themselves for not planning better and disposing of their assets while they were younger and more in charge of their lives, but it's too late for that now. The vultures are circling - at least these vultures give you a bit back.
Is there any ethical dealer/company out there doing the same, traveling the country and offering proper prices? What other choice do these unfortunate people have?
And I am not referring to anyone who is simply too lazy and/or dumb to do a bit of basic research to see what their coins are worth, because anyone who can do that will come across more legitimate dealers who will give them a better deal. Those kind of people deserve what little they get.
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Valued Member
Canada
247 Posts |
Hey, this is a sore spot for a lot of people out there, Myself included. What I've done in this community is place an add on the local website (homepage for Kelowna) simply asking
Need Help With Coins? I have researched many peoples collections for them for free and have found some amazing peices. Sometimes I offer to buy, sometimes not depending on my own situation and personal collection needs. I find it quite simple to do and I love the hobby so I get to see alot of collections that might otherwise end up in shady hands.
I still haven't been able to get my hands on the 1935 JOP dollar I found in a collection( still hoping)
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Pillar of the Community
Canada
1581 Posts |
Take a look at the Charlton Coin Guide. It sells for $8.95. It's available at major bookstores. http://www.charltonpress.com/Numism...80889683556#Quote:
The Guide now has 208 pages of information to assist you in determining "what your coins are worth."
Silver dollars (VF): 1947 dot - $90 (Trends $265) 1947 ML - $100 (Trends $225) 1948 - $600 (Trends $1150) Obviously far better prices. But, fair? For key dates? Nevertheless, getting this into the hands of people going to these shows would be a good start. |
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Replies: 53 / Views: 16,187 |
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Posted 01/21/2013 11:21 pm
