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 Replies: 20 / Views: 1,330 |
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Bedrock of the Community
United States
10995 Posts |
This seems like such an easy scam to perpetrate. Open a new account, list a coin in the TPG Registry for an unbelievably low price, and cash out before delivery is to take place. Someone should contact NGC and have them ask if the owner of that coin posted it for sale. I suppose another layer of the scam could be to claim to own coins you don't own to the TPG registry and then post them for sale. Not sure what TPGs do to verify ownership and whether that process is robust. It doesn't pass the smell test that someone with an $18,000 would risk having this sell for $3,000. New account with zero feedback. Also why have only local pickup? Looks like no one bit on this "opportunity." What are the chances that this is legit? https://www.ebay.com/itm/364607276803     |
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Forum Dad
 United States
23754 Posts |
I could be wrong, but I think ebay holds the money for new sellers until delivery. |
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Bedrock of the Community
 United States
10995 Posts |
Withholding the money in an escrow until delivery would be a good safeguard. I contacted the NGC Registry, sent them the listing and asked if they would contact the owner of the registry set and ask them if they listed their coin for sale in that strange way on ebay. Not sure if they will contact me back even if they reach out to the owner or purported owner of the coin and figure out what happened. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS My coin e-commerce website: https://fairfaxcoins.com |
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Bedrock of the Community
United States
10995 Posts |
The coin's been relisted and the seller account was created 3 days ago.   |
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Valued Member
Canada
384 Posts |
Just a "heads up" I certainly have no certain knowledge of this listing or this particular item....but I had stumbled across a site about a year ago with a large number of slabbed coins being offered at a very low fraction of value (mostly NGC). The serial numbers did match the 'alleged' coins on offer. Other items I recognized from (legitimate) sellers who still held the items ...so draw your own conclusions. I did contact one of the admins on this site but since it was not an ebay listing he couldn't/wasn't able/willing to do anything. NGC was also not helpful. So ,,,,,proceed with caution |
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Pillar of the Community
United States
502 Posts |
Edited by burfle23
12/03/2023 5:26 pm
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Moderator
United States
54172 Posts |
Good Job burf
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
4233 Posts |
Seems like this kind of scam has been going on for years. You can steal images from anywhere for it. We've also seen the bot version on here where they hijack an old account and spew thousands of listings using stolen listings. I'm curious how they make money doing it. Maybe they get the money faster than we think?
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Pillar of the Community
Australia
1150 Posts |
Yes some seller's have there money with held until selling item reaches buyers doorstep,but selling at such a low price makes you wonder.
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Pillar of the Community
United States
4984 Posts |
I think ebay has strong fraud protection for buyers so you're not going to get stuck with paying a bill for goods that are never delivered or do not match the listing. |
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Pillar of the Community
United States
1257 Posts |
Maybe the scam is simply making contact with an interested party - using the platform for reach only. Then gloves are off. Like hey, move this off ebay and I'll give you 10% off - just send the $$ vai Zelle and we are good. |
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Pillar of the Community
Canada
5045 Posts |
If there is a way to scam people, somebody will do it for sure. Either exploit a loophole or rely on someone's ignorance/ greed. The latter method will always find new customers.
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Pillar of the Community
 United States
4703 Posts |
From the scammer's point of view, what is the risk? They are in some distant country that doesn't have any sort of fraud enforcement. They can spew out fake accounts with realistic-looking listings. All it takes is one good hit and it's a huge payday for them. $3000 is like a whole house in less developed places of the world.
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Pillar of the Community
United States
4233 Posts |
Quote:Maybe the scam is simply making contact with an interested party - using the platform for reach only. Then gloves are off. Like hey, move this off ebay and I'll give you 10% off - just send the $$ vai Zelle and we are good. This is what the bot scam was doing. There was an image and description directing you to contact them and that no ebay bids would be accepted. If anyone bites on that, they're screwed. I'm still curious how they get money when the transaction is through ebay.
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Pillar of the Community
United States
1257 Posts |
Quote:I'm still curious how they get money when the transaction is through ebay. I propose the ultimate goal is to move the transaction off ebay. The only reason they are on there is for audience visibility. Bottom line - there is a sucker in every crowd. If they can get 10 direct contacts for every 1K views and just 1 of those is the proverbial sucker who can be conned into paying direct, they win. Automated until that sucker marked, then it becomes solely a game of social engineering, and some scammers are very good at it.
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Pillar of the Community
United States
502 Posts |
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Replies: 20 / Views: 1,330 |
Posted 12/03/2023 12:55 pm
