post the scam

Discussion in 'Coin Chat' started by kaosleeroy108, Aug 28, 2018.

Page 3 of 4
  1. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    I noticed all his coins look artificially toned and severely overpriced
     
    kaosleeroy108, Aug 28, 2018
    #41 + Quote Reply
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    but when couple with unfounded charts and false facts as well as misleading claim's sure it's dishonest
     
    kaosleeroy108, Aug 28, 2018
    #42 + Quote Reply
  4. LakeEffect

    LakeEffect Average Circulated

    Solar power, my friend, solar power.
     
    LakeEffect, Aug 28, 2018
    #43 + Quote Reply
    Gregg likes this.
  5. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Agreed . . . I just want to make sure that the more impressionable among us see this distinction discussed early on.
     
    ToughCOINS, Aug 28, 2018
    #44 + Quote Reply
  6. adam5000

    adam5000 Member

    Junk drawer lot
     
    adam5000, Aug 28, 2018
    #45 + Quote Reply
  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Okay, I'll add an example that is guaranteed to be controversial among our members.

    I don't care for major sellers of AGE & ASE promoting "self-directed IRAs" wherein their customers take custody of the precious metals themselves. This is a sales-pumping predatory practice, as the IRS has already declared that the tax benefits of such IRAs will be denied when claimed by the customers. The customer may never take custody of the precious metals for the investment to qualify as an IRA.

    Is it illegal to promote such non-conforming purchases? Not yet, but I think it's only a matter of time. Will it eventually be labeled a scam? Almost assuredly, because these outfits are deliberately playing on the passage of time between their misled customers taking the bait and later paying the piper.

    The customers are of course guilty of making a bad choice, but these purveyors are worse, in that they have strategically laid a trap for their unwary customers to step into.
     
    ToughCOINS, Aug 28, 2018
    #46 + Quote Reply
    Santinidollar and LakeEffect like this.
  8. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Don't go letting them off the hook so easily. It is their fault that they choose to express the gold weight in units less familiar to those they know to be interested in buying gold. If they truly wanted to be above board, it would be more appropriate to express the gold content as 0.006 troy ounces of gold per coin.
     
    ToughCOINS, Aug 28, 2018
    #47 + Quote Reply
  9. LakeEffect

    LakeEffect Average Circulated

    I think this is the best definition of "scam" yet presented in this thread.
     
    LakeEffect, Aug 28, 2018
    #48 + Quote Reply
  10. TheFinn

    TheFinn Well-Known Member

    TheFinn, Aug 28, 2018
    #49 + Quote Reply
    Jaelus likes this.
  11. Ana Silverbell

    Ana Silverbell Well-Known Member

    The words "rare" and "scarce" are thrown around loosely by sellers. A coin is "rare" only if a few examples are known to exist. The word "scarce" is much more vague. It may best be described as a coin that is more common than a rare coin but still difficult to find. Do an eBay search of current or sold listings of a coin and you can pretty much determine for yourself if it is readily available.
     
    Ana Silverbell, Aug 29, 2018
    #50 + Quote Reply
  12. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I find it curious that, at this writing an eBay search for scarce and rare coins in the coins & paper money category turns up 30,076 results and 108,295 results respectively.

    I'd expect to find many more scarce coins than rare coins. Apparently, sellers are abusing the "rare" description as claimed above . . . either that, or rare coins just don't sell.
     
    ToughCOINS, Aug 29, 2018
    #51 + Quote Reply
    ldhair likes this.
  13. ldhair

    ldhair Clean Supporter

    I don't think that most ebay sellers have a clue of what is actually rare.
    They probably understand rare on the grill at home but that's about all.
     
    ldhair, Aug 29, 2018
    #52 + Quote Reply
    Santinidollar, ToughCOINS and Gregg like this.
  14. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    Scarce is not a vague term at all. These words are not interchangeable. They have very real definitions.

    Rarity describes the quantity extant. Scarcity describes that the quantity extant is insufficient for meeting the demand.

    A coin can be rare without being scarce (low number in existence but no or virtually no demand).

    A coin can likewise be scarce without being rare (a significant quantity in existence but not enough to fulfill collector demand).
     
    Jaelus, Aug 29, 2018
    #53 + Quote Reply
    Randy Abercrombie likes this.
  15. Conder101

    Conder101 Numismatist

    That is definitely a scam because the sellers are deliberately lying by saying that the customers can hold the gold themselves in the self directed IRA when the IRS has come out and specifically said you can't do so even using the method they tout. They are telling the prospective customers something which is demonstrably untrue. That makes it fraud and a scam.
     
    Conder101, Aug 29, 2018
    #54 + Quote Reply
  16. Ana Silverbell

    Ana Silverbell Well-Known Member

    I did not say the words were interchangeable. I said that the term "rare" is defined by numismatists but I do not see as definitive a definition for "scarce." The greater point I was making is that these terms are thrown around loosely by sellers.
     
    Ana Silverbell, Aug 29, 2018
    #55 + Quote Reply
  17. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    I didn't say that you did. I agree with you. But my point is that scarce doesn't have to have an alternate numismatic meaning for it to be used properly. Its meaning is readily applicable to numismatics as it is.
     
    Jaelus, Aug 29, 2018
    #56 + Quote Reply
  18. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    kaosleeroy108, Aug 29, 2018
    #57 + Quote Reply
  19. Garlicus

    Garlicus Debt is dumb, cash is king.

    Garlicus, Aug 29, 2018
    #58 + Quote Reply
  20. Conder101

    Conder101 Numismatist

    Why do you say that?
     
    Conder101, Aug 30, 2018
    #59 + Quote Reply
  21. Double Die

    Double Die I know just enough to be dangerous

    Double Die, Aug 31, 2018
    #60 + Quote Reply
14 more messages...
Page 3 of 4
Draft saved Draft deleted

Share This Page