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 Replies: 23 / Views: 3,847 |
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Pillar of the Community
United States
1101 Posts |
So I bought a rather expensive coin on a website where the seller did not provide certification number until auction ended. Here's a timeline of what occurred. 1. After receiving the cert number, I verified it belonged to the coin I bought. At this point, I was 40% confident the sale was legit. 2. I then called PCGS and verified the number and they confirmed the coin. Now I'm around 75%. 3. I then figured I'd call a coin auction site I normally use and talked to the owner. He pulled the coin up and said it sold in August last year for around 3 times what I paid for it and was suspicious. He also said it appeared the pictures the owner posted were from the Auction sale. He also said that sale in August was a few thousand light on what the coin should have sold for. 4. I called the seller and had a discussion with him. He said he knew what the coin was worth but needed the money due to Hurricane Harvey in TX last year. Plausible story I suppose. 5. I went ahead and paid for the coin using AMEX, as I'm covered from fraudulent sales. 6. I then wondered where he got the coin from so I asked. Said it was a gift for their wedding from his wife's cousin in Seattle. OK,  7. The seller asked for shipping information and said it would be sent 2-day mail, w/ tracking and signature required. I provided my work address as I'm always there so signature wouldn't be a problem. 8. Seller ended up sending coin this morning, to my home address and it should arrive Sat or Monday. Far from 2-day shipping. 9. I asked numerous times today for tracking info and he said he will provide tracking info tonight. 10. I then mentioned that the same certified coin is for sale on ebay and that the coin was sold back in August 2017. He said he didn't know anything about that but my coin was enroute. 11. I did contact the other seller on ebay and he said that same coin is being sold my numerous sellers (must be a consignment sort of thing) but suspected my sale was fraudulent and only buy expensive, graded coins from dealers on ebay with PNG beside their names. So, long story short, I'll post pictures of the coin I get and expect to get thrashed on here from my knuckle-headedness  But that's ok. At least I'm covered by AMEX  |
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Pillar of the Community
United States
608 Posts |
Your story sounds like a nightmare in the making!
I hope it has a happy ending. Good luck.
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Pillar of the Community
 United States
3058 Posts |
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Pillar of the Community
United States
992 Posts |
It certainly sounds ominous, you already saw the red flags.
When you receive it, have it looked at very carefully, the fakes are out there and nicely made, too.
Personally, I would cancel the payment right now. If it ever arrives, you can pay him for it then if it's genuine. If a fake, don't bother.
Tough beans for dealers in counterfeits.
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Pillar of the Community
United States
4963 Posts |
 Well, good luck. I suppose it's not too bad- worst case, you can probably contact ebay and get it straightened out. Best case, you got a pretty good deal. I'm pretty suspicious as well, but I suppose we'll find out soon enough. |
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Moderator
 United States
34413 Posts |
Quote:
Tough beans for dealers in counterfeits.  "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Bedrock of the Community
United States
12477 Posts |
In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Rest in Peace
10197 Posts |
We have been given intuition for a reason, the ladies are usually a bit better than ours but most of us do have it to some degree. Your ROFL should have kicked you in the pants, and 10/7ed that sale PDQ! You may be "covered by AMEX", but somebody's gonna end up burned in the end. Too late now to canx payment, dudes already probably drank/shot, snorted or smoked it by now.
Houston perhaps? Or So Cal/LA?
Edited by Crazyb0
05/01/2018 10:27 pm
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Pillar of the Community
United States
2023 Posts |
Quote:I then mentioned that the same certified coin is for sale on ebay... This tells me that not only is the coin likely to be fake, but the slab as well. When you get the coin, look up the certification number again and see if there are any photos of the coin anywhere online. If PCGS doesn't have their own photo on their site, further down the certification page are links to where that coin had been seen on other auction sites -- sometimes there are photos there. If those photos don't match your coin, you've been had. (Even then, take the auction photos with a grain of salt -- maybe they've been had too.) If there are no photos available and the same certification number is on a coin elsewhere on ebay, at least one of them is fake. Chances are yours is one of them. |
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Pillar of the Community
United States
7621 Posts |
Red flags were up everywhere and YOU still decided to set sail for the eye of the hurricane!
Hope this works out well!
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Pillar of the Community
United States
5832 Posts |
Quote:
bought a rather expensive coin on a website where the seller did not provide certification number until auction ended. I don't have to read the rest of it to know you got scammed. What auction site so other can avoid? |
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Bedrock of the Community
Australia
21788 Posts |
Women have intuition, men have hunches.
They are of equal strength.
OP's is working fine.
I won't say how I buy expensive coins; that is just being wise after the event in this case,
just to say that I use a 'belt and braces' approach to buying.
You need use this sort of philosophical approach, when comes to buying real estate, cars, and sadly, expensive coins.
I hope this story has a good ending.
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Pillar of the Community
 United States
1101 Posts |
Quote:
Houston perhaps? Or So Cal/LA? Rockport, TX Quote:
PCGS doesn't have their own photo on their site, further down the certification page are links to where that coin had been seen on other auction sites -- sometimes there are photos there. If those photos don't match your coin, you've been had. When I spoke w/ PCGS on the phone, I asked if the coin had pictures and he said no. The coin sold on Stacks Bowers in August 2017 and had pictures. So when coin arrives, I can compare to those. He didn't provide shipping last night. I'll start a AMEX dispute this morning. |
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Bedrock of the Community
United States
20753 Posts |
Just one of the reasons I keep away from on line sales. Hopefully your outcome will be OK.
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Pillar of the Community
United States
7840 Posts |
I found a coin that was listed at Dealer A's website. Called Dealer A and he said that it was "missing" from their vault. I asked him the keep me informed if they find it. Later that day I see the same coin, PCGS Certification number matched and images, so I called Dealer B to ensure that the coin listed was the coin they had on hand. It matched...I bought it. The coin is now safe with my imager friend.
Hopefully your outcome will bear similar semblance as well.
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CCF Advertiser
United States
1533 Posts |
Photos from auction sites being used is hardly a red flag. I sell coins all the time that I bought at auction using the photos from Heritage or Stacks for no other reason that they take good photos.
There are also some bottom feeder dealers that try to sell coins they do not have by reposting them from dealer sites figuring if they sell, they can buy them at the dealer's posted price. This too will lead to multiple listings as well as reused photos as they don't have the coin on hand. This has led to some Facebook groups insisting that any coin posted over $200 has to have a piece of paper with your name and date on it in the picture.
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Replies: 23 / Views: 3,847 |
Posted 05/01/2018 7:46 pm
