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Scam On Craigslist Be Aware

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Valued Member
Danester's Avatar
United States
213 Posts
 Posted 04/28/2011  03:48 am  Show Profile   Bookmark this reply Add Danester to your friends list Get a Link to this Reply
I guess as a seller of gold and silver, bringing a friend and meeting in a public place isn't enough. You need to bring a dog - part pitbull and part greyhound would be preferable! Read the story in the link below.

http://www.wowt.com/news/headlines/...0833334.html

Yes, Greybulls.... they actually exist. Bred to "Run-Down your Silver"!
http://www.designermixes.org/Breed_...reybull.aspx

Scam-On-Craigslist-Be-Aware



The Danester
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vermontensium's Avatar
United States
16679 Posts
 Posted 04/28/2011  03:50 am  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
Don't buy coins on Craigslist...period.
swcoin.ecrater.com
Valued Member
Danester's Avatar
United States
213 Posts
 Posted 04/28/2011  04:01 am  Show Profile   Bookmark this reply Add Danester to your friends list Get a Link to this Reply
Or sell... that's what this lady was doing.
Valued Member
Chriscoinmaster's Avatar
United States
337 Posts
 Posted 04/29/2011  08:43 am  Show Profile   Bookmark this reply Add Chriscoinmaster to your friends list Get a Link to this Reply
I wouldn't say never use it, but just don't expect much
I bought from a Craigslist ad once
the guy said he had a bunch of silver and wasnt a collector, just stuff he pulled back in the day when he was a cashier
I bought a bunch of silver off him for melt, he threw in a 2 pound bag of wheats and a big bag of foreign.
foreign contained 2 indian heads
wheats contained a 1922 I got certified (1922 no D) and silver has more then doubled since the buy
I wouldn't say never but beware lol
Pillar of the Community
Broken-Coin's Avatar
United States
1812 Posts
 Posted 04/29/2011  09:55 am  Show Profile   Bookmark this reply Add Broken-Coin to your friends list Get a Link to this Reply
Back when I used to purchase 90% Silver coinage at flea markets, I used the formula "face value x .720 for uncirculated coins and .715 for circulated coins" and this would give me the troy weight in ounces, I would then offer 80% of spot and explained that the other 20% was overhead expenses... I have never received any complaints with this formula... Back then silver spot averaged $4.00 a ounce...
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Broken-Coin's Avatar
United States
1812 Posts
 Posted 04/29/2011  10:01 am  Show Profile   Bookmark this reply Add Broken-Coin to your friends list Get a Link to this Reply
I failed to mention above that at that time I was also paying $8.00 each for all common date Morgan & Peace Silver Dollars ($2.00 above what the coin dealers were paying)...
Valued Member
United States
439 Posts
 Posted 04/29/2011  10:34 am  Show Profile   Bookmark this reply Add monkeyman67 to your friends list Get a Link to this Reply
I buy and sell on CL all the time. I am always fair at just below spot and have sold 15k in silver, maybe more. I have some great contacts now
and continue to deal on CL. You have to be careful, meet in public and get a feel for who you are dealing with. First meet, and large deals I do at the bank. After you meet someone you can decide after that. I get great deals all the time and no shipping. But always be careful.
The guy with the scale was trying to rip people off, he knows exactly what he is doing.
Valued Member
Danester's Avatar
United States
213 Posts
 Posted 04/30/2011  2:30 pm  Show Profile   Bookmark this reply Add Danester to your friends list Get a Link to this Reply
Selling on Cragslist is definitely more hazardous then buying. If you are selling there is a danger of your property being taken from you during the presentation (or bodily harm to you) even if the meeting is in a public place, as the lady in the above story.

If you are the buyer then the danger is bad or counterfeit merchandise, which you protect against by bring a loupe, small scale, and magnet. One might argue that "Hey, they can rob you of your money if you are the buyer". Yes, that's true but the "bad guys" generally don't have property or cash to bring to a meeting (or won't), so it is easier for them to play the buyer.

Monkeyman's suggestion to buyers about bigger deals is good advise - first meet to just see an example of what the seller has, and then complete the transaction at the bank. This also puts your sellers at ease when you suggest a "first meeting". So, determining the size of the deal before the meeting (e-mail or phone) is important for buyers.

The Danester.
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