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It's Time To Stop - Silver On Roll End

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OspreyCoins's Avatar
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 Posted 07/30/2016  10:36 pm Show Profile   Bookmark this topic Add OspreyCoins to your friends list Get a Link to this Message Number of Subscribers
After being a long time browser of the land of ebay, I have seen a recurring problem. This being rolls of coins, mostly cents, that just happen to have a Mercury dime or Indian Head on the end. What a scam. A quick search can have you finding countless examples of this phenomenon. An example can be found below. This just seems to me another way for ebay sellers to scam and have a quick reason to double the price. I assume the rest of the coins are 50's wheaties. I think some of them with Indian Heads on the ends may be genuine, but a Merc... No way...

Here is an example: http://www.ebay.com/itm/Unsearched-...AOSwAoRXF5tD

Also note they have multiple rolls in stock...

Feel free to add your opinion on the matter below.
Edited by OspreyCoins
07/30/2016 10:42 pm
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 Posted 07/30/2016  11:06 pm  Show Profile   Bookmark this reply Add Big7mag to your friends list Get a Link to this Reply
I'm sure that some of those sellers have access to a machine that can wrap the rolls for them and make them come out that way. However, I do not know. But at this day in time I'd say it is more than possible. I have actually thought about that when looking on ebay and thinking what silly person could buy that. Not to mention I also seen where sellers were ordering like a box of halves and selling each roll saying that they could contain silver. I think a roll of halves was like $16.00. However, I do not know how the sellers could possibly make any money either.
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 Posted 07/30/2016  11:10 pm  Show Profile   Bookmark this reply Add OspreyCoins to your friends list Get a Link to this Reply
Yeah, I see what you mean. I mostly think that cent rolls are the main culprits.
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westernsky's Avatar
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 Posted 07/31/2016  01:19 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
As long as it is allowed by ebay it will continue.

As long as buyers think they see a pot of gold at the end of the rainbow they will keep buying.

It is a two-fold problem.
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John77's Avatar
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 Posted 07/31/2016  02:00 am  Show Profile   Check John77's eBay Listings Bookmark this reply Add John77 to your friends list Get a Link to this Reply
They allow people to list low grade common date wheat cents for $600... this is quite literally pennies compared to that.
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
Edited by John77
07/31/2016 02:01 am
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 Posted 07/31/2016  07:34 am  Show Profile   Bookmark this reply Add CalzoneManiac to your friends list Get a Link to this Reply
There are also rolls with gold and ancients on the ends.
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Misfit Coins's Avatar
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 Posted 07/31/2016  07:56 am  Show Profile   Bookmark this reply Add Misfit Coins to your friends list Get a Link to this Reply
If it looks to be to good to be true, buy 2.
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 Posted 07/31/2016  08:53 am  Show Profile   Bookmark this reply Add John Bonzo to your friends list Get a Link to this Reply
Yes -- we will see these auctions continue as long as people keep bidding. People have consistently shown that they are willing to gamble against the odds in hoping to strike it big; Las Vegas and the lottery come to mind. There is also an entertainment component to it...$10.50 to see what I get, sounds fun--why not? I have never purchased one of these, nor a lottery ticket or gambled in Vegas, but I can understand the lure....even if it makes no logical sense (how did this seller find 416 unsearched cent rolls that happen to have a silver dime on the end?...hmmmm).

The seller makes money by averaging less than $8 value per roll that is sold. So the silver dime is worth $1.50 + throw in a couple common wheats at $.04 each + $.47 for the rest of the cents and the base cost for the seller is $2.05. Occasionally throw in an Indian Head cent at $1-2 each (especially for your repeat customers) to bump the cost of those rolls up to $3-4 each. Then sell a couple of loss leaders with a very low grade 1909s VDB or 1922 plain or multiple indian head and early wheats so that you can claim it has been found before (and hope that buyer leaves feedback). It does seem like a lot of effort on the seller's part!
Edited by John Bonzo
07/31/2016 08:54 am
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 Posted 07/31/2016  09:14 am  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply
Strictly by ebay policy, there is no prohibition against listing a Wheat cent roll that has some other coin or coins on the ends, as long as it is accurately described - AND - does not speculate about what valuable coins MIGHT be inside.

A very few sellers list their Wheat cent rolls stating "you are bidding on 48 mixed date wheat cents, and the two end coins as shown".

The sellers that are a problem do one or more of the following:

1) Put a VDB reverse Lincoln Cent on one end, the speculate in the title and/or description as to whether it might be a 1909-S VDB. (or a S mint marked IHC reverse, and speculate that it is a 1909, etc.).
2) Mention what the seller has found IN OTHER ROLLS (such as, "in the few rolls I have opened, I found blah, blah blah). What a seller found in other rolls is not a description of what is being sold, but is instead a speculation about what MIGHT be in the roll being sold.
3) Mention what "has been found". Such statements don't specify by whom, when, etc. but again it is irrelevant because it is not a description of what is actually being sold, but is instead a speculation about what MIGHT be in the roll being sold.
4) List supposed feedback comments from OTHER rolls sold. Again this is irrelevant because it is not a description of what is being sold, but is instead a speculation about what MIGHT be in the roll being sold.

The policy that governs this type of scam, is covered in the "grab bag" section of the "chance listings" policy.

This states that "The listing doesn't single out anything that "may" be contained in the grab bag that has particular monetary or obvious collectible value. For example, grab bag listings for collectible comic books can't allude to the possibility that a specific rare, high value comic book "may" be included in the grab bag. This type of listing is considered a lottery, which is not allowed on ebay."

The policy specifically states that the item speculated about must have "particular monetary or obvious collectible value". It does not define a minimum monetary value or how to determine if it has obvious collectible value.

One interpretation might be that any coin that is worth more than face value has a "particular monetary value", and that any coin the seller bothers to mention in the listing that might be in the roll must be of "obvious collectible value".

Think about the following:
"Possibly a 1909-S VDB"
"Possibly contains key dates"
"Possibly contains silver dimes"
"Possibly contains civil war tokens"
"Possibly contains Indian Head cents"
"Possibly contains steel cents"
"Possibly contains error coins"

Personally, I believe any speculation about what coin/coins MIGHT be included violates this policy.

Additional personal opinion - I believe 99% of Lincoln Cent rolls that contain any coin "of interest" on the ends was PUT THERE by the seller. No seller in their right mind would sell a Lincoln Cent roll with a 1909-S obverse, or a VDB reverse showing if the TRULY did not know if it were the valuable 1909-S VDB, or what other coins might be in the roll. These rolls are put together by sellers to appeal to buyers desire to "get lucky" and "take a chance", which is exactly why ebay formulated the chance listings policy to prohibit such practices.

It has been tolerated (well let's say there was no working mechanism to report such listings where anything would be done to enforce the policy) for many, many years, and some sellers had basically started to make a living with this type of listing.




In general, back stories purporting to describe where the coins came from (which are most likely fabricated/lies) don't seem to get ebay upset. "Rolled in 1959 by a man who was a bank teller at a major bank in San Francisco right across the street from the San Francisco mint, then sat in bank vault gathering dust until last year when I acquired them at an ESTATE SALE from the man's grandson who knows nothing about coins and just wanted to sell them quickly."

Oh, and let's not forget the lie of "good mix" and "unsearched" about which ebay will do nothing.
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nss-52's Avatar
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 Posted 07/31/2016  10:26 am  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply
coin.galaxy Top Rated Seller, 100% positive feedback, with literally over 1,000 such rolls sold...

At least they TELL you that "I have thousands of Wheat Cents and roll them up
and put a Silver Dime on the end for you !"

Their cross over the line is adding "1909svdb and 1922 plain found", which, even if true, violates the policy prohibiting mentioning things that might be included.
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 Posted 07/31/2016  1:23 pm  Show Profile   Bookmark this reply Add OspreyCoins to your friends list Get a Link to this Reply

Quote:
coin.galaxy Top Rated Seller, 100% positive feedback, with literally over 1,000 such rolls sold...


Aaaand if you read a lot of the reviews on some sellers they seem a bit off...
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 Posted 07/31/2016  2:12 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
Gone.

Reviews are tied to products, not sellers.
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 Posted 07/31/2016  2:25 pm  Show Profile   Bookmark this reply Add OspreyCoins to your friends list Get a Link to this Reply

Quote:
Reviews are tied to products, not sellers.


Yeah. I just worded that wrong.
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 Posted 07/31/2016  4:09 pm  Show Profile   Bookmark this reply Add OspreyCoins to your friends list Get a Link to this Reply
It's a wonder that people still buy them...
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 Posted 07/31/2016  4:21 pm  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply
..they are gamblers lured into gambling by the words used by the sellers implying the rolls might contain valuable coins.
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