We've all seen the ads. They are in every newspaper in every major city in the country at some time or other. This full-page ad was in Thursday's Rocky Mountain News. (I will quote the parts of the ad pertaining to coins.) Gold Near $1000. Oz INSTANT CASH 5 Days Only! Mar. 11th-15th (2 Locations) Find Out What Your Treasures Are Worth For Free! For the Finest Collectors - Don't Miss this Valuable Opportunity to Meet the Country's Finest Appraisers! Cash Offers PCGS & NGC Affiliates, etc., etc. Buying All Types of Coins, Stamps, Silver, Jewelery (sic), Watches and Antique Items Do Not Clean Coins. All Prices Based On Rarity & Original Condition. Cleaning Reduces Price Greatly. Used Coin Values Are Much Less. Below are some of the fantastic prices they are offering: American Type Coins US Silver Halves 1891 & older - $10 to $1500 US Silver Quarters 1891 & older - $5 to $1000 US Silver Dimes 1891 & older - $3 to $500 US Half Dimes 1873 & older - $3 to 500 US Nickels 1883 & older - $3 to $500 US Three Cent 1889 & older - $3 to $500 US Two Cent 1873 & older - $2 to $500 Gold Coins $1 - $50 to $2500 $2 1/2 - $85 to $3000 $3 - $250 to $10,000 $5 - $110 to $5000 $10 - $210 to $10,000 $20 - $450 to $25,000 What great guys. They are paying 50% or less of melt value for gold coins and 50% and less - much less - of the true value for silver type coins. And remember what they said: "Used Coin Values Are Much Less." So the prices quoted are for UNCIRCULATED coins. Gee, I wish I could buy an Uncirculated Two Cent piece for $2. For that matter, I wish I could buy a Two Cent piece in Good for $10. Same thing for Three Cent pieces. These coins Grey Sheet for about $12 in Good. $3 for Half Dimes and pre-Barber Dimes? They Grey Sheet for $11 & up in Good. $5 for pre-Barber Quarters? They Grey Sheet for $18 & up in Good. $10 for pre-Barber Halves? They Grey Sheet for $23 & up in Good. Do you think these guys pay extra for key dates? (I wouldn't bet on it.) How many people fall for scams such as this? I'm sure there are LOTS of people who find it hard to believe someone would actually pay $450 for their $20 St. Gaudens when it is easily worth double that. These prices sound amazingly high to many people who are all too eager to sell at these "high" prices. Little do they know they are being taken to the cleaners. (But, hey, at least the "appraisal" is free.) Has anyone ever taken their coins to be "appraised" by buyers like this? I have not but I am half tempted to drop by one of their locations Friday since I will be in Denver anyway. I may take a few token coins with me for "appraisal". Heck, I may even take a few Chinese counterfeit Trade Dollars and Seated Dollars and see what they are paying for those. I find it interesting that the sellers say they are "PCGS & NGC Affiliates". Does PCGS and NGC condone this kind of behavior? I hope the ANA will use some of the money they received from NGC's settlement of the "First Strikes" lawsuit to educate the public about these kinds of buyers. In fact, I think I will take this ad to ANA headquarters and suggest just that.
While you are at it, why not park your butt outside the location and offer folks twice what the guys inside are paying! Frank
I wonder if they'd buy my collectiion of 1874 Two Cent Pieces? Geez, Looks like they offer about %5 of Greysheet. HOW GENEROUS!
Two cent pieces are no longer in circulation so they are only worth 2 1/2% of greysheet.:whistle: Im feeling generous, I'll pay 10% and if you have enough give you a free car. LOL... Motel Bandits is what I call them
Honestly I haven't seen this ad locally. Course I don't really read the paper anymore it's all online. ....but it would be fun to take some stuff in to be insulted so I could make a scene. Maybe scare a few people away. I've tested coin dealers like that in the past. If I get a ridiculous offer I will not do business with them. Selling OR buying.
It's like a full page spread type of deal. http://img.photobucket.com/albums/v190/phantomskyline/c7f7abab.jpg http://img.photobucket.com/albums/v190/phantomskyline/3641ce0a.jpg http://img.photobucket.com/albums/v190/phantomskyline/fed12a29.jpg http://img.photobucket.com/albums/v190/phantomskyline/b4c1537a.jpg
I just have to wonder what kind of Security they had....Hawaii has extremely strict Gun Laws. I doubt they could've gotten a waiver from the AD, HPD. or Public Safety.
Are you seriously saying that Hawaii doesn't permit rent-a-cops to be armed? Many states require extensive training for armed rent-a-cops, but I wasn't aware that any state actually prohibited them entirely. Can these scammers at least hire off-duty cops for security? (I guess the risk of holdups justifies being more underpriced than the TV jerks are overpriced!)
People at work bring me these adds all the time. They go "look ! you can make some money.". I just make a sick noise and explain that they are crooks.
Nope, and i've rarely seen a "Certain Armoured Car" companies guards armed anymore. Heck, it's alleged that there are only TWO CCW Permits in the entire State of Hawaii. Dunno about hiring Off Duty officers.....I think they changed the rules after several officers got killed/Injured on Road Construction Sites.
I've never heard of anyone who went & came out happy. The bad part is most spend' what they 'think' they're gonna get even before they go .. so they have no choice but to sell at a ripoff low price just to semi break even.
Crooks! I don't know how people like this live with themself. Some day they will pay, maybe not in this life, but pay they will.
