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 Replies: 29 / Views: 3,374 |
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Valued Member
United States
463 Posts |
interesting article, found it funny that the guy thought 7.50 was a fair offer after he looked online lol. Even though I hate people that sells fakes as it ruins the hobby, greed is a suckers game http://www.northjersey.com/news/118...t_coins.htmlIf they were real, for 160 silver dollars melt is 4,656.79 yet offered 1200/$7.50 per coin It absolutely amazing how people will overlook things to make a huge profit, when there selling for 28-35 each |
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Pillar of the Community
United States
3540 Posts |
Very true. "Business Owner" should be embarassed at what was offered and purchased for.
Have seen MULTIPLE times, how people are ripped off by "business owners". It is one thing to make a profit, but 7.50 per coin is a ripoff when silver is being traded for 25 times face.
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Pillar of the Community
United States
3184 Posts |
I hope the seller gets caught and the business owner is ashamed of his offer. Imagine if they were real....he would have made a massive profit.
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Pillar of the Community
United States
3592 Posts |
Those two guys were meant for each other.
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Valued Member
United States
314 Posts |
Looks like the Pot sold to the Kettle.
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Bedrock of the Community
United States
20753 Posts |
Quote:
It absolutely amazing how people will overlook things to make a huge profit, when there selling for 28-35 each Not amazing at all. Your just looking at things from a Numismatically educated point of view. If you consider how many millions of people have no idea of the price of Gold, Silver, coins, or anything. Massive quantities of Copper coins are melted all the time for just Copper. If there were 100 1909S VDB's in the pile to be melted, to those that sell them, those that melt them all that is just Copper. Don't believe that. Just go ask the average person the price of Gold, Silver, Platinum. Yet these same people will collect cans for recycling for the weight of the Aluminum. If there was a 1974 Aluminum Cent in that pile of cans, so what, it's only Aluminum. One good thing about all that is if you ask the average person for any old coins laying around, you might end up with something really great since they are only coins. |
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Valued Member
United States
425 Posts |
I don't understand? First, it does not say what type of business it was....... was this a coin shop or a shop that normally buys and sells coins? Let me see if I can explain...... I drive into the parking lot of a "BUsiness" and say I wanna sell my 1955 porsche Spider. The "Business" owner looks it up and finds that it is worth over $100,000 but offers me $60,000. The problem is the "Business" owner does not know what he is looking at or maybe does not know how to discover that this is really a $20,000 VW kit-car of a Spider! If I take the offer am I a thief? I mean the guy walks in w/a bag of coins and says "what will you give me for them?", the same thing goes on on ebay every week with Pillar Dollars. I see clearly modern fake Pillars going for $200, one guy from Spain was selling the exact same 1767 coin.....with the same flaws pictured just one hour apart! They both sold for over $250! This guy may be a good con-man but he is no thief! |
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Pillar of the Community
United States
3294 Posts |
In my books, a con man is a thief too. Just one with different tactics.
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Bedrock of the Community
United States
10045 Posts |
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I mean the guy walks in w/a bag of coins and says "what will you give me for them?" It should also depend on who's being asked. If the buyer is a dealer with expertise, and he's asked "what are these worth", they should be upfront about coins with premium value. I've known "dealers" who specialize in buying collections off seniors. So how strong is the human temptation to underbuy something rare; do dealers bear a special responsibility here? I say this because I suspect collectors get "ripped off", especially by the melt guys in malls. When you've been warned several times against giving opinion as to value when collections are brought in, you shut up--but start to wonder why dealers get so defensive.  |
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Bedrock of the Community
United States
17884 Posts |
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If I take the offer am I a thief? If you represented it as a 1955 Porsche Spider, yes. How you present what you are selling can make a big difference |
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Pillar of the Community
Canada
3692 Posts |
It's the responsibility of the buyer and the seller to come to an agreement over the price. When they both agree on it, it presupposes that each has a level of knowledge about the product and that final price reflects that. That's like the rule among coin people - is that you should know what you're buying (or selling). Same with a car - you don't want to buy or sell a car filled with ignorant facts about it.
Con artists have ways of playing dumb to appear to have the lower hand when in fact they come out on top, preying on the ignorance and confidence of others.
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Valued Member
Canada
311 Posts |
Wow these two guys were made for each other. Most people reading this article would not pick up the fact that the business owner was also trying to rip off this guy. Coin collectors are very astute. If these Morgans were real the rip off would have never been reported. This rip off happens everyday. Oh wee, buyer beware and you can also add to that seller beware.
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Pillar of the Community
United States
1348 Posts |
Well this only means 1 few things to me:
This is what a pawn shop deserves offering such a horrible price. Maybe if it was somethign they would have to sit on for a year but these will sell the next day if he wanted.
Pawn shops will offer even less in fear of getting scammed.
The guy selling should be put in jail for ruining it for us.
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Pillar of the Community
Canada
3692 Posts |
Again, there's no mention of what kind of shop it is. It mentions "local merchant, businessman, and business owner".
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Pillar of the Community
United States
1231 Posts |
Yellow pages list no pawns shops in Bergenfield, but there is 2 coin shops in the town
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Valued Member
United States
337 Posts |
I agree odentheviking to a point
it is a con game not really theft
they both came to a price and agreed
theft would've been if the man walked into the store and took all the money or merchandise
People get conned so much and they don't even know it...education is the key
never take anyones word when buying something
the reason they are looking for this guy is that he is passing counterfit money
if it wasn't for that, if he lets say sold the guy his car which is an example I heard,
the shop owner would be out of luck
can the shop owner legally get his money back anyways I would think he is out of luck
he bought counterfit money
I think that is a more exciting question, anyone know the answer to that
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Replies: 29 / Views: 3,374 |
Posted 04/01/2011 01:03 am
