If you look at his feedback as a buyer he is buying coins in bulk. then he rolls them add artificial wear to the roll and resells them as unsearched rolls. http://feedback.ebay.com/ws/eBayISA...d=-1&de=off&items=25&interval=0&mPg=49&page=2
How about this one? $10k for a gem 1880 S Morgan. It would probably grade MS65 with at least PL but it's a $750 coin tops. Dramatically less if not MS65DMPL http://www.ebay.com/itm/1880-S-MORGAN-DOLLAR-RARE-ORIGINAL-RAINBOW-TONED-HIGH-GRADE-BU-DMPL-/300703593920?pt=Coins_US_Individual&hash=item460354b5c0
I don't condone the dudes' behavior, but it's just suckers that are being scammed by this. Also, I suppose, new collectors, which is too bad.
I hate to say it, but it is up to the buyer to do their homework before buying a coin. How can you fault a dealer for asking too much money for a coin? Just don't buy it. I understand that it is wrong for dealers to participate in fraudulent practices like cleaning or otherwise altering a coin without stating that the coin has issues. But just asking too much for a coin is perfectly ethical. Recently, on this forum, a well respected dealer bought some coins that just about everyone graded way below what NGC eventually graded them. I have no idea what the dealer paid for the coins, but I am sure he was pleasantly surprised with the grades that NGC gave him. And yet a member said that it would be the ethical thing for him to pay the seller for the grades that he received. Coin dealing is a business like any other, he has to grade on what he sees, he has to determine if the coins are authentic, he has to take the risk. Why is he not entitled to make a profit? It is all too easy to call a dealer unethical, but it is really up to the buyer to learn about what he is buying. How many new collectors are really spending 10K on a Morgan dollar anyway?
I understand the Caveat Emptor argument, and do not judge you for your position on the matter. I certainly encourage making a profit, and engage in that sort of enterprise all the time. It is not ethical, in my opinion, to ask such a price and to describe it as "ms67, ms68 or proof cam" is totally misleading. It is a business strike or a proof coin, not both. The chance of one getting burned on this is low, I just don't understand the point if all you are trying to do is get someone on a huge mistake.
That is why education is important. I totally agree that a dealer should not misrepresent anything that they are selling though.
Reading the negative and neutral feedback for the first seller I get the impression that a lot of it is "Wah, I got what I paid for and not what I was hoping to get and I paid more than I should have." I mean one guy paid $6 for a roll of 1955-D wheat cents, and is unhappy because all the cents in the roll were 1955-D's.
Rofl reminds me of a guy I sold to on Ebay once. My auctions title is "$1.00 FACE VALUE JUNK US 90% SILVER COINS" the details in the listing say "You are bidding on 1.00 FACE U.S.90% Silver coins from a random pick of quarters,dimes, or half dollars." He leaves me neutral feedback saying "4 junk quarters. what a rip. 1935 1935 1936 1936 " [TD="class: vi-ip_2"][/TD] [TD="class: vi-tTblS"][/TD] [TD="class: vi-tc_2 vi-tc_0"][/TD]
The name kinda throws me off, Would you buy a coin from a DJ ? [video=youtube;otCpCn0l4Wo]http://www.youtube.com/watch?v=otCpCn0l4Wo[/video]
Lol I remember when I kept begging my mom for MC hammer pants . She said **** no . On the bright side she did get me a michael Jackson leather jacket when I was like 4.
It is going to be very interesting to see how the new eBay Top Rated Seller requirements are going to impact all of those "unsearched wheat rolls" sellers. With the new requirements, a Top Rated Seller will not qualify for the 20% discount on final value fees unless they provide a return policy of 14 days or more. I can just imagine buyers opening the rolls and asking for refunds
They just wont offer a return, kinda like now. I dont do returns on ebay. It would be way too much hassle and every time you accept returns all it is, is a money loss. Personally I Ebay to make money, not ho hum around and wait for a game of tiddly winks. Plus with coins, its way too easy for someone to ruin the coin even by just touching the face, or maybe they spill coke on it or some other crud, or worse they scratch the heck out of it. Then they wanna return it after its gone from a $200 coin to a $20... Nah no thanks lol. The thing that amazes me though is how stupid some people are on ebay. Why anyone would buy "unsearched" rolls is incredibly durrrrrrrrrrrrrr. Its like these people grew up in a town of 100 people, never met a con artist and never seen someone steal something in their entire life.
Nah too many rules that would hinder my business more then help it. A lot of my sales are bullion sales and taking returns on bullion would just be foolish on my part.
What do you do when a seller simply files a "significantly not as described" claim? Typically paypal automatically sides with the buyer on these and pulls the money out of your account.
