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There Ought To Be A Law

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chris12018's Avatar
United States
2130 Posts
 Posted 01/14/2011  10:02 am  Show Profile   Bookmark this reply Add chris12018 to your friends list Get a Link to this Reply

Quote:
but from the name, I don't infer that they are coin dealers or numismaticians


The ad stated that they will price numistic values.
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oblakavshtanax's Avatar
United States
757 Posts
 Posted 01/17/2011  8:03 pm  Show Profile   Bookmark this reply Add oblakavshtanax to your friends list Get a Link to this Reply
well, chris, they did didn't they? it just so happened that the numismatic value was 0 in most cases. heh.
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alganbagerap's Avatar
United Kingdom
2490 Posts
 Posted 01/17/2011  8:29 pm  Show Profile   Bookmark this reply Add alganbagerap to your friends list Get a Link to this Reply
I've not yet encountered this kind of jackal in the UK for coins yet. Sure we have the "gold buyers" in shopping malls but, Hey this kind of piracy's legal.
There are similar types of scams over here though. In my neighbourhood, around once a year a company comes to a local theatre advertising a "Rock & Pop Ephemera Exhibition". 'Cept of course they want to buy said items, just without straining the wallet too much.
So three years ago I went with 36 pieces of 60's & 70's Beatles & Paul MacCartney material, plus alist of 3,248 other related items. After a consultation that lasted a whole six minutes they offered me the huge sum of £358.00.

That's when I showed them the auctioneers catalogue for the following month. Estimate: £17,500

Lowballing or what?
Bedrock of the Community
United States
20753 Posts
 Posted 01/17/2011  9:16 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Sounds like you people don't get out much. This goes on all the time at coin stores, coin shows, pawn shops, etc. If people don't know what they have and try to sell it, someone will always try for some fantastic low price. I've seen so many situations where this happens. I've seen a person sell a large bag of Mercury dimes for double face value at a coin show. I was watching as a dealer at a coin store give a little old lady about double face value for rolls of Buffalo nickels. And so many other situations like that. I'm sure at that place you were at many, many people lost out on some valuable items due to not knowing what they had.
Ever watch those things on TV for sending in your Gold? Note how they say stupid things like we are giving a 20% bonus today only. Imagine how many people send in a few thousand dollars worth of Gold items and get a few hundred dollars for them.
What you experienced goes on so many times every day you would really get ticked off if you could witness it all the time.
Valued Member
United States
92 Posts
 Posted 01/24/2011  6:43 pm  Show Profile   Bookmark this reply Add gasman96 to your friends list Get a Link to this Reply
I've seen ads here in N. Fl.from people you're talking about.Drove to a site and it amazed me all the cars,people there.Looked around and felt sorry for some, boy are they cheap in their offerings Highway Robbery

Poverty and unemployment seem to be the norm and people are just scraping by,then these guys show up to take advantage.Makes my blood boil gasman96
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Maineman750's Avatar
United States
3592 Posts
 Posted 01/24/2011  9:03 pm  Show Profile   Bookmark this reply Add Maineman750 to your friends list Get a Link to this Reply
Thought about it a little bit and there is a law ! That law says they cannot force you to come in or force you to sell if you don't want to. A right to choose is the greatest law we have.


Quote:
Sounds like you people don't get out much

Valued Member
SilverFossil64's Avatar
United States
183 Posts
 Posted 01/30/2011  12:54 pm  Show Profile   Bookmark this reply Add SilverFossil64 to your friends list Get a Link to this Reply
Easiest ways for (dishonest) people to make money on coins/metals without knowing too much about them is to super lowball the even less knowledgeable people out there who inherited or obtained through other means...
Valued Member
soccerdad's Avatar
Canada
311 Posts
 Posted 01/30/2011  2:16 pm  Show Profile   Bookmark this reply Add soccerdad to your friends list Get a Link to this Reply
The sad thing about this story is that a lot of people who bring in slabbed coins or key dates acquired these as an inheritance. They maybe don't do the research and the unscrupulous buyers are able to "steal" these coins. Because these people move from town to town they probably don't care that they may be confronted by the odd knowledgeable collector.
Valued Member
coinsoldier's Avatar
Canada
85 Posts
 Posted 02/01/2011  10:42 am  Show Profile   Bookmark this reply Add coinsoldier to your friends list Get a Link to this Reply
Jaobler said: Your only defense is knowledge.
When buying or selling coins, knowledge is key.
You have to do a lot of research, but knowledge pays big time.
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