Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
300,000 items to help build your collection! Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. Specializing in Modern Numismatics Coin, Banknote and Medal Collectors's Online Mall Vancouvers #1 Coin and Paper Money Dealer Join Thousands of Coin, Bullion, & Money Collectors Royal Estate Auctions - $1 Coin Auctions








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

"Pre-Order" On Coins Dated 2014? Is This Normal?

To participate in the forum you must log in or register.
Author Previous TopicReplies: 10 / Views: 1,529Next Topic  
Valued Member
4504's Avatar
United States
379 Posts
 Posted 11/16/2016  4:08 pm Show Profile   Bookmark this topic Add 4504 to your friends list Get a Link to this Message Number of Subscribers
Hello all

just wondering if some of you more experienced collectors might be able to offer some insight, as I do not want to go off half-cocked or say anything that might not be fair. As such, I don't want to identify the seller or mint as yet until some more time passes by.

I ordered and paid for two 2014 coins that were to come from an overseas mint on 10.17/2016. There was nothing in the ad about "pre-order" or anything like that. Since the date of the coins was 2014, I assumed that they would be in stock, even from the overseas manufacturer. There was nothing said or listed about any delays, etc. This is from a non-eBay ad for the coins by a coin company.

I expected at least a several week to a month delay in receiving my coins. ok, a month has now gone by and since I have not received the coins, or updates, or anything at all since I placed the order, I thought it reasonable to call the distributor/coin company.

So I called and talked to who I assume was the owner of the coin shop. He said that these coins were of a "pre-order" type, and that it would be at least until the middle to the end of next month (December 2016) until I got the coins, possibly even longer. I had always been under the impression that "pre-order" coins were for coins not yet made, for instance, a 2017 coin.

ok. when I gave him my order number and told him that the date on the coins were 2014, he said that due to the rarity and expense of the coins, that the mint will still not actually make the coins until an actual order comes into the mint, regardless of the date on the coin. There was a mintage of 200 advertised of these coins with a value of about $5-600.00, altho I have seen it advertised for much much more by what appears to be an ebay speculator. I am not against the "make offer" provision, so please do not get me wrong here, but my experience has been that the "make offer" listings are usually overpriced.

Does this sound normal to any of you? I am not out, nor anxious or worried, just wondering if any of you have had any experience with coins dated several years earlier and being told that the mint will not make them until an actual paid order comes in. In other words, the mint does not want to have an " Overstock" on coins it cannot sell quickly due to the expense.

What did not make me feel better was that there was a "ripoff" report from someone who delt with this same coin company regarding "pre-ordered" coins and boy, did it seem like he had been through the wringer. On the other hand, there was just this one report, of which the coinshop did not respond to, but an alleged prior customer of the coinshop wrote in saying he never had a problem with the shop.

I do feel that the coinshop should have said on his advertisement that this was either a pre-order coin or that there would be a considerable delay or the coins were not in stock yet at the overseas mint or his USA shop. As I said, I was expecting a month delay, altho I have ordered from other overseas companies who had their coin in stock and I received them within 2 weeks. In the "availability" part of the order, it says "order today ship in 7-10 days", but I suspect (or hope) that this may be an ad generic statement for coins that the coinshop has in stock in the USA, and that the "availability" part of the ad for my coins was not modified for my particular order. I am really trying to be fair, folks.

now, I am aware that sometimes false "plants" by the seller going under a different name can happen, saying they had nothing but good experiences with them, but until I have the facts I will not go there yet, as the customer could be genuine. What puzzles me however is that the coinshop itself did not place a rebuttal on the ripoff report website. Of course, I do not know for sure that the shop is even aware of the complaint and therefore unable to respond.

In any case, this is just a question for now. However, in a month or so, if I have not received the coins, I will up the ante a bit. I want to give the seller the benefit of the doubt until I know for sure what is going on or we go into the beginning of January 2017 and still no coins.

thanks for any replies or thoughts... mike

p.s. I know some of you may be itching for the coinshop's name or the mint and such, but I really would rather not say for now to be fair to the shop in case this is the way this "pre-order" business is sometimes done with coins, even with coins that are dated years earlier, unless somebody out there really twists my arms to know. I can put the coinshop's website info for the coins up here.

Moderator
Learn More...
Sap's Avatar
Australia
16849 Posts
 Posted 11/16/2016  4:46 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Some countries have laws against the striking of coins with "fictitious dates" - France comes to mind. For other countries and mints, the date on an NCLT coin is more like a marketing target than an actual year of production, with actual striking dates varying from a year or two in advance of the date on the coin, to a year or two afterwards.

If the mint in question (it wouldn't happen to be the Mint of Poland, by any chance?) is only striking the coins to order, then the "mintage" figure quoted in advertisements and catalogues is really a "mintage limit"; once they hit the limit, they'll promise to close off the books and not make any more.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
Rest in Peace
moxking's Avatar
United States
17900 Posts
 Posted 11/16/2016  5:22 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Do you really want a coin that they can't sell 200 of in three years?

Having read everything you wrote I'd advise getting your money back as fast as possible.
Pillar of the Community
ace_ftw's Avatar
Canada
1747 Posts
 Posted 11/16/2016  6:38 pm  Show Profile   Bookmark this reply Add ace_ftw to your friends list Get a Link to this Reply
first I have to say that most reputable mints do not work this way, any kind of pre-order would only be a month or so prior to release. They would not mint more coins dated several years earlier, they would date them the current year.

I can only speculate at the reasoning behind the delay, but most likely the person offering the coin for sale was trying to build up an order big enough to actually get the mint to make a run for them.

But if you are suggesting that the coin is retail $5-6k, then this is not a real coin but some sort of NCLT large (several oz) silver or gold "coin".

I would also suggest requesting to get your money back, the longer you wait the harder it is fight with your CC company to dispute the charges. I would not wait long.
Pillar of the Community
fistfulladirt's Avatar
United States
4333 Posts
 Posted 11/16/2016  7:26 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Are you willing to mention the coin in question?
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Valued Member
4504's Avatar
United States
379 Posts
 Posted 11/17/2016  10:29 am  Show Profile   Bookmark this reply Add 4504 to your friends list Get a Link to this Reply
oh oh... it is the mint of Poland, Sap...
Pillar of the Community
Alpha2814's Avatar
United States
2023 Posts
 Posted 11/17/2016  12:12 pm  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
Depending on how you paid, the longer you wait the lesser your chance of filing a claim. If it were me, I'd try to get my money back sooner rather than later.
Valued Member
4504's Avatar
United States
379 Posts
 Posted 11/17/2016  7:01 pm  Show Profile   Bookmark this reply Add 4504 to your friends list Get a Link to this Reply
I paid with paypal under item not received. boy, have I got a story to tell you but I would rather wait until the results are in. I did contact paypal, who forwarded my message to the merchant, I then have about the first week of December to report to paypal the results of the communications between the coin shop and me. this is encouraging, because I was told by the merchant that the coins would not be arriving until the end of next month... at best.

I do not know what this means, if anything, but I checked my order status on the coinshop's website, it now shows that the transaction's status is "reversed". I do not know what that means for sure, and I have yet to get a message from paypal or the merchant, but it is somewhat of an encouraging sign.

I can say, without reservation, that the seller, in his listing, was misleading at best and dishonest at worst, however, I am one to give the benefit of the doubt. btw, this was not an ebay listing.

thanks for your thoughts, and once this is settled, I will tell you a story of which you old timers here already know, and that the newcomers (like me) should learn by.

as an advance tidbit, I will say this... whenever their is a conflict, people will fatmouth the other party to the nines (could be true or not), yet leave out ANYTHING which tags them as being the real bad guy.

well, I learned possibly an expensive lesson, which is about the only way I truly learn (making a mistake first), but do I have a story to tell you once the matter has been settled... one way or another.

lastly, I know a lot of dealers out there are on this board, and I will not pass judgement until I have all of the facts (which I do) and the matter has been resolved. I do not wish to paint all dealers with the same broad stroke, as it is not fair and untrue. I will tell the story later and you can tell me where and how I messed up, altho I knew it at the time but did not want to believe it.

mike
Valued Member
4504's Avatar
United States
379 Posts
 Posted 11/17/2016  7:18 pm  Show Profile   Bookmark this reply Add 4504 to your friends list Get a Link to this Reply
to avoid any confustion, the total toal was $970. if I indicated or inferred it was in the thousands, it was a mis-interpetation of my figures.

ace, you are a wise person, you have guessed more than half of it already, thanks for the info, it very much makes sense, that the mint would wait until enough orders came in, even for a coin that is going to be dated several years earlier.

and thanks to the rest of you.

common sense... if they could not sell the advertised 300 mintage within 3 years, it is likely not much of a value... thanks mox... and to the rest of you.

the kicker is that I once fat-mouthed this mint for several reasons, and I STILL bought from them. how dumb is that, but in my defense I will say some said that I had nothing to worry about (or words to that effect).

the only way the seller can wiggle out of this is for them to beg the mint to make the coins NOW instead of waiting for a few more orders to come in, so that I would get them before the paypal deadline looms. remember, paypal crunch time is weeks before the dealer says the coins MIGHT arrive (too bad the seller did not bother to list such small things as coins are being pre-ordered, when to expect them, etc.) before the purchase was made. of course, the case could also be made that I had my head in the sand.

I do not think the Poland mint would bend under such withering pressure haha.
Rest in Peace
moxking's Avatar
United States
17900 Posts
 Posted 11/17/2016  7:38 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Be certain to re-read Pay Pals message as there are usually deadlines for both the buyer and seller to meet, based on when the order was placed.

Reversed probably means that PP has already snagged those dollars back from the sellers account.
Valued Member
4504's Avatar
United States
379 Posts
 Posted 11/20/2016  3:59 pm  Show Profile   Bookmark this reply Add 4504 to your friends list Get a Link to this Reply
hello all

I was just notified that my refund was processed. it was a bit of a process, with more involved than some might suspect, in order to get it done. for instance, after I had filed with paypal, I got an email saying that the coins "MIGHT" now come at the end of THIS month, instead of the end of NEXT month. I respectfully declined, as "might come" then was no real reassurance and I was already suspicious enough to assume that when the end of this month came, I would then get an email saying that they now "might" arrive in another two weeks, then when that deadline up I would get another email saying it the coins now "might" be a few more weeks, and possibly so on and so forth.

After I declined, I got another email from them, saying that they were willing to give me $300 credit on top of the money they had already from me... if I bought something from them. I declined this most generous offer as well.

They finally just gave up and refunded the $ and I do give them credit for that. I think the main deciding factor for them, that despite their date of delivery estimates, that, in my opinion, they had no idea at all when they would arrive, but that they did assume or know that the delivery would be certainly beyond paypal's deadline. However, I know I made mistakes as well and am more informed and will not make the same mistake again.

There is more involved in this story but these are the highlights and I do not wish to bore you with everything unless you have just got to know the whole story.

Thanks to all for your input and advice... mike

  Previous TopicReplies: 10 / Views: 1,529Next Topic  

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.4 seconds to rattle this change. Forums