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 Replies: 7 / Views: 1,138 |
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Pillar of the Community
United States
3234 Posts |
I forgot the name of the firm, but it's one of those "coin investment" companies that have an initial "come-on" to see their product and then purchase a whole bunch of their other worthless junk. My father, daughter, and now myself went through the 5 minute sales spiel to spend $5.00 for shipping and handling to get a "free" 1921 Morgan dollar. I believe they noted it was in uncirculated condition but I could be wrong about that. Now, I'm not complaining...heck I got at least $8+ worth of precious metal for $5...what could be wrong with that? The wrong/funny part is how they process these coins. They are basically under the impression (like a lot of the big advertisers are) that their customers, especially new ones, want a nice bright, clean looking, shiny object when they get their coin. Well, that's what my family got....each of us got a nice bright white Morgan dollar. The curious part about these dollars is when you wonder what they did to clean them. My 1921S that I have in hand has almost PL surfaces with it difficult to actually see where the wear is...it's definitely a lightly circulated coin. I thought...Acid? Jewel Luster? Scrubbed? Another (ex-)forum member actually pointed out what the most likely method was.....PLATING! I didn't realize coin companies still did stuff like that. But, I think my friend is right. The reeded edge of the coin has a very soft look to it with barely any depth to the reeds....like they've been coated. The whole coin has a solid silver sheen to it. I can't believe that this company is duping it's customers to believe they're getting really nice numismatic material when they're essentially getting total stuff worth no more than the metal content. If I actually carried coins in my pocket (which I don't) this might make a great pocket piece that would eventually wear down to an "original" state. I think I'll just keep it as-is and show it to others. Below are scans of the coin.   |
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Bedrock of the Community
United States
20753 Posts |
Don't worry about it. They sent you a coin although cleaned is still worth about $10 minimum. At a coin show around here it would go for at least that. As you noted most people want to jump in on the coin collecting craze and will buy just about anything if it is shinny and pretty. Haven't you noticed all the painted coins. How about the coins advertised of the trade center with the towers standing up. Everyone is jumping on the band wagon. Another example is if you looked at the 2007 Red Book on about the 4th page, not numbered, you'ld see a "free $40 value for 2 coins in NGC cetified slabs. I called and got them for S&H. A freind of mine actually got 4 of them. The only thing is you have to put up with their mail advertisements, emails and even phone calls. But I took the coins anyway. Put your coin on a inside window sill in the kitchen for several months. The heat, humidity, miscellaneous fumes will darken the coin so as to look normal. Just remember to rotate it every few months. |
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Valued Member
United States
287 Posts |
Not too bad for a $5.00 investment. It will always be worth it's value in silver or as "just carl" has stated it will bring around $10.00 if you decide to sell it. Doubling your money is pretty good no matter what they did to the coin.
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Pillar of the Community
United States
595 Posts |
quote:
Originally posted by just carl
Another example is if you looked at the 2007 Red Book on about the 4th page, not numbered, you'ld see a "free $40 value for 2 coins in NGC cetified slabs. I called and got them for S&H. A freind of mine actually got 4 of them. The only thing is you have to put up with their mail advertisements, emails and even phone calls.
Carl, do they send you coins on approval, like Littleton? And how much was the S&H? |
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Pillar of the Community
 United States
3234 Posts |
Hey, Carl...I'd love to take advantage of that deal too!
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Pillar of the Community
United States
1083 Posts |
Just think how many customers they suckered into investing thousands with them for coins that have been doctored? That kind of prevalent behavior is why the general public should never make coin collecting part of their "investment" strategy. You have to know what you are doing and most of the public is not going to spot a coated, cleaned, re-tooled, or just plain counterfeit coin. They'll just put them in a bankbox and when they get laid off and/or retire pull them out and find out they have lost thousands of dollars. You should report that company to the State Attorney General where they do business. It would be a public service.
Colin
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Pillar of the Community
United States
2540 Posts |
Great deal, if you don't take any more of their followup deals!
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Pillar of the Community
United States
7123 Posts |
The coin you have pictured IMO has not been plated, there are areas around the stars and lettering that still show luster in the photo, it has been cleaned and more than likely polished also.
Rick
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Replies: 7 / Views: 1,138 |
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Posted 12/29/2006 8:35 pm
