coin flippers on ebay

Now that the real estate bubble has burst I guess some folks have given up trying to flip homes and are trying instead to turn a quick profit on ebay. Here we have a seller that just listed a coin for more than 10x his purchase price only 1 day after he won it. I mean come on, I doubt he even has this coin in his possession yet!

Today:

http://cgi.ebay.com/1798-Large-Cent...ryZ11947QQssPageNameZWDVWQQrdZ1QQcmdZViewItem


Yesterday:

http://cgi.ebay.com/1798-Draped-Bus...ryZ11947QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

 

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A small price to pay since they "are reluctantly willing to part with this coin and allow another collector to carry on the custodialship and eventually pass it on to another generation".

That's layin' it on just a bit thick :whistle:

Sigh,
Wally

 

Hard to deny that they are the same coin when the fourth-rate TPG's serial numbers are the same!

Must be more than 7 times as expensive to ship from Georgia as it is from Michigan!

Hard to tell from the picture whether it would grade VF or XF at PCGS/NGC, but assigning the PCGS MS60 valuation is about as dishonest as it can get.

 

Gopher29,

That is a darn good find there.

This just crossed my mind. Wonder ir the original seller and buyer (who is now the seller) are in together on this?

Think about it. At $550 that coin would be one hell of a deal (if it's legit and not just a picture that was pirated). Seller sees that it's going WAY to low so a shill bidder steps in.
Now the shill bidder relists same coin at $7,000? PLUS the auction ended on SUNDAY and he's already got it on Monday?

Methinks something smells REAL bad here. Time to report to ebay.

clembo

 

I just sent the "new" seller a message via ebay.
Wonder if I'll get a reply? Here it is.

"Could I possibly get some better pics of this coin?

Thanks for your prompt reply!

clembo"

Gonna be kinda tough when you don't have the coin now isn't it?

 

The corrosion on that coin looks strange. More like rust than corrosion. I wonder if that coin is even genuine. There also appears to be some wear on the reverse near the upper edge (could be due to a weak strike). My guess is that coin was body bagged by PCGS so somebody sent it to NNC.

 

In my opinion, that coin would never slab at a reputable TPG. It would be bagged for environmental damage.

In addition, the seller should be ashamed of themselves for misrepresenting the value of this coin.

 

bingo, a third rate coin at best

 

I just hit him with questions from both my accounts. LOL, this is fun !!! Lets see if he can have better pictures to me by noon Tuesday so I wont have to buy a similar coin from Heritage for $600 less.

 

FYI, I have contacted the seller, confirmed these are the same coins, pointed him to this thread, and given him a little piece of my mind...Mike

 

Can Anyone Say Liar?

Ok everyone I already got a response - you'll love this!

"
Clembo

We have taken multiple pics of this coin. These pics are the best by far. We have tried scanning and digital camera photos. I'm afraid these pics are the best we can do. Sorry we can't be more help."

So how hard DID they try? Did they fly down to Georgia scanner and cameras in hand? Give me a break!

Arizona Jack,

PLEASE post your responses to your questions.

clembo

 

I just received another e-mail from the seller, who apparently mistook me for the original seller of the coin. Their words:

As a matter of fact, we have purchased 11 coins from you, and plan to do more business with you.

Not only is he a scumbag, but he's also an idiot.

I'll bet there are other examples of this seller asking ridiculous prices, misprepresenting the coin's actual value, and all for coins he doesn't even have in-hand....Mike

 

Hmmmm.... seems he's getting hit hard all of a sudden. Think he'll pull the auction? Or... should we suggest it.

Don't act to fast on that one.

clembo

 

Reply from dirtbag:

What do you mean " what's up with this coin? "
This picture is the best that can be made. Digital photo's and scanning can do no better. If you cannot make a decision based on this photo and the grading, I afraid I cannot help you- except if you wish to see it in person. We coulld arrange that perhaps. Im sorry I cannot do better.

 

Reply from "David":

Legal purchase, legal sale. No misrepresentation. This is my buisiness, not yours or any coin board. You want the coin, buy it, if not move along. My coin, my business.

 

You all do realize that all his auctions are the same - several came from seller ryman1003, but not all of them. The 1825 large cent he paid around 232 for and now has it listed at 2200. The 1852 3 cent looks like they paid 140 or so and it is now listed for 800. So he buys these graded coins and then turns around and relists them for really high PCGS prices. Not sure how this is reportable to ebay. Buy low sell, sell(in this case really really really) high.

Now if ebay would just come up with a place for me to put all ebay sellers that I do not want to see their auctions. Maybe if enough people blocked these type sellers we could shut them down. I have a place to put my favorite sellers, but I would love to skip the flood of auctions some sellers put out there.

 

Yep - I was looking at this when 4/5 more posts arrived.

 

The seller has been reported to eBay (for misrepresenting the value, stealing photos, and selling items he doesn't have in-hand), and I suggest others report him as well...Mike

 

You can exclude sellers from your "favorite searches" . In "advanced search" "sellers" you can include or exclude any seller you desire. If you have a list of "favorite sellers", you can search just from their material.

 

1. I doubt if you will get anywhere on the value thing.
2. You cannot report anyone for stealing someone else's picture - only your own. From experience.
3. You have no proof that he does not have it in hand. Can you prove that he did not fly in and pick it up?