Heads you lose, tails you lose

http://www.houstonpress.com/2007-07-19/news/texas-coin-companies-target-elderly-investors/

expose printed recently in Houston Press about the top level scum in the coin biz...just the phrase 'coin biz' sucks.

 

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That's just plain wrong. Making a bad name for coin collectors/dealers in general AND ripping off all those people.

 

dirt bags.

 

Makes me sick :headbang:

 

Agree, quite disgusting...

 

Thank you for posting that thread Drusus. I still cannot believe that some dirt bags target the elderly like this. It is truly unbelievable. I feel so sorry for those people that lost all. Maybe some day they will pay..... and hopefully they will pay BIG time. Thanks again Drusus. Great article.

swick

 

quick check their picture (oops none shown) perhaps this is a side line for those TV guys?

 

You know, the courts in Salem, MA had a good form of punishment back in the 17th century. I'm trying to remember what they called it. Something about steak?

People like that make me sick. My dad used to buy from Blanchard. He paid horrible markups on stuff I could've got him at local shows for a lot less. Still, he wasn't all that hip to collecting and just wanted to make some money. When he turned around to sell them, he got all mad because he only got back about half of what he spent.
I'd like to get one of these guys on the phone just to jack around with him and then debunk all of his garbage.

 

omg, the poor thing! I hope she walks away with a few million from that lawsuit

BUT the judge may rule 'buyer beware'

 

I had a dealing with that dealer---he was giving away free books so I took him up on his offer. The lady was really pushy...trying to find out what I collected, the grades of my coins, number, how many were slabbed, and trying to sell me better and nicer coins. I turned down all of her offers and really didn't think I'd get the book but I did!

Speedy

 

GRRRRRRRR, these are the people that put a black mark on our hobby.

 

These are the type of people that look good in the sights of a high powered rifle.

 

were the books being given away written by Fuljenz?

 

I don't know about Conn. or Texas but here in Georgia it is a serious crime to bilk the elderly.

 

Yep---I'm just glad it was a 1-800 number that I called, other wise the book wouldn't have been worth the phone bill.

Speedy

 

My hope is that those involved end up in Hell with the constant sound of a phone ringing and having to listen to their own high pressure sales pitches for eternity. Even that won't be enough punishment for ripping off the elderly.

 

These crooks are only 30 miles south of me. The local media(tv and newpaper) has beat up on them for many, many years, all to no avail. They are still in business!!!

 

Shouild they be convicted of a crime they shold repay all the $$ they bilked and do some hard time for ruining these peoples lives.

 

The woman in the start of the article said she knew nothing of coins. And yet she bought thousands ''worth'' here a few thousand there. Why? because she fell for some sales talk. I dont feel sorry for someone who spends thier entire life savings on something they know nothing about. She was greedy. Was she taken advantage of? She sure was. She mustve heard of the US Mint, right? Or coin shops. She wasnt a shut in. She stated when she came home from shopping the phone was always ringing. Would she buy a car over the phone? A salesman once told me if you want to sell a product door to door; go to the houses that have ''no soliciters'' signs. that means the residents are weak and can be duped. She was greedy and it bit her in the butt. Yeah, guys like that are dirt bags. And it gives a blackeye to the coin hobby. And I bet her stockbroker tried to talk her out of selling. But she was probably promised a higher and quicker return with the coins. Whos fault is that? Just my opinion.

 

In the 2007 redbook this year, universal coin and bullion advertised a $10 ASE (included shipping).

So I called to get it. The guy tried selling me some $20,000 of gold nonchalantly (only worth about $9,000 when I looked it up). I had read about these guys before I called, so I didn't even use the word yes throughout the conversation.

Well about 2 weeks later the same guy called again trying to sell something. I never received the ASE, so I told I didn't want to deal with them anymore as they were unreliable. Low and behold he found my order held up by a computer glitch and promised I would get it this time. Funny thing was he didn't try to sell me something else in the same call.

Well the next time they called, they tried to sell me $25 platinum coins. I forget their price, but I told them since I could buy them for the local dealer for half their price, I'll pass. They wouldn't take no for an answer so I hung up on them.

They called again and tried to sell $25 gold coins for double their value. I pointed out that APMEX, MJPM, and the local flea market had better prices for the grade they claimed. They did make me hang up on them again, but they never called again.

Of course it was after that call that I realized I should have gone the other way. I should have said that I had some $25 platinum coins (the same as in the previous call) that I needed to unload in order to buy the gold and ask how much they were paying. Would have been funny to hear their number in context with the previous sales call.

For those that want to have the chance to put them in their place, the $10 ASE deal is still there and it's in the redbook. But I will tell you, it's not as much fun as I thought it would be. Although you do get to hang up on them everytime.