Incredible! - Coin Community Forum

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Author	Replies: 8 / Views: 1,872
SeatedNut Pillar of the Community United States 2797 Posts	Posted 11/06/2007 11:13 am Well I am again amazed at the world that is ebay. It's much different than the real world as evidenced by this seller's legacy. http://search.ebay.com/_W0QQsassZslbaker53 The seller offers numerous rare coins slabbed by the folks in the basement. A cursory look at the coins in the slabs confirms the grades are fantasy. Feedback also shows that knowledgeable collectors are returning overgraded coins. But what amazes me is the long list of buyers who chose to keep the coins and offered praise in their feedback. The seller only needs to keep about a 50% success rate to rake in huge profits, but they are above 90%. Oh by the way the seller is in compliance with the new ebay regulations. The downside (other than the obvious) ... down the road the buyers will face reality when they attempt to unload their coins for a profit and be soured at the experience. Or on the upside ... down the road these buyers become ebay sellers and pass this on to other unsuspecting noobs. Your only defense is knowledge! Report this Post to the Staff

justjimrob Valued Member United States 330 Posts	Posted 11/06/2007 12:12 pm I did not know that the US Coast Guard was grading and slabbing coins now. He does have some very clean coins though. Jim Report this Post to the Staff
jcook54 Pillar of the Community United States 533 Posts	Posted 11/06/2007 12:41 pm My first impression was that they were all reproductions. At the very least they could be thoroughly cleaned and generically slabbed. I am just surprised at how many folks are actually buying them! Report this Post to the Staff
halfabustisbetter Pillar of the Community United States 1984 Posts	Posted 11/06/2007 2:55 pm I'm not sure that relegating "certified and graded by third party grading company" to the sub-title keeps those listings in line with ebay policy. I'll report them and find out. Report this Post to the Staff
tnwalker10 Valued Member United States 393 Posts	Posted 11/06/2007 5:02 pm You can polish anything except dirt and get a mirror like finish. Report this Post to the Staff
USArmyParatrooper Pillar of the Community United States 1283 Posts	Posted 11/06/2007 10:22 pm Some of the positive feedback could from buyers who "paid for the coin, not the slab". Boiler room slabbed coins from shady seller (could) be a good way to find bargains. I'm just not willing to risk it, or give them my money. Report this Post to the Staff
Spider5689 Pillar of the Community United States 2269 Posts	Posted 11/06/2007 10:47 pm Buying the coin and not the slab could be the reason, or it could be the inexperienced collector, who feels he or she has found a reputable dealer. We have to remember, we were all inexperienced collectors once. Report this Post to the Staff
scubu Locked 822 Posts	Posted 11/09/2007 6:47 pm quote: Oh by the way the seller is in compliance with the new ebay regulations. Ha! Says you! By the new ebay rules these coins are raw. He states they are certified. Scumbuster's on it! http://cgi.ebay.com/ws/eBayISAPI.dl...260180080438 http://cgi.ebay.com/ws/eBayISAPI.dl...260180080447 http://cgi.ebay.com/ws/eBayISAPI.dl...260180080462 http://cgi.ebay.com/ws/eBayISAPI.dl...260180080497 http://cgi.ebay.com/ws/eBayISAPI.dl...260180080508 http://cgi.ebay.com/ws/eBayISAPI.dl...260180080520 Report this Post to the Staff
scubu Locked 822 Posts	Posted 11/12/2007 2:06 pm Chalk up another one for the good guys! Report this Post to the Staff
	Replies: 8 / Views: 1,872

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