Very Big Scam

Take a look at this 1997 1 kg. gold Panda sale (http://cgi.ebay.com/1997-Chinese-Gold-Kilo-Panda-Coin-Only-58-Minted-/260647640621?pt=LH_DefaultDomain_0). The coin in question contains $38,500 of gold yet was snapped up for $25,000. If that's not bad enough, the seller – appropriately named cheetah (ha, ha) – did it twice, unless the first sale was later canceled! http://cgi.ebay.com/1997-Chinese-Gold-Kilo-Panda-Coin-Only-58-Minted-/260644248249?pt=LH_DefaultDomain_0. Even the photo is apparently taken from someone else. Look at this auction to find the actual owner of the coin who has put it up for sale without success: http://cgi.ebay.com/1997-Chinese-Gold-Kilo-Panda-Only-58-Minted-/290457405938?pt=LH_DefaultDomain_0.

The lesson to always remember is, regardless of what type of coin, if something is too good to be true it probably is. $38,000 of pure gold for $25,000?

Best wishes,
Peter Anthony
http://www.pandacollector.com/

 

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There is a scam where ebay sellers are selling off their high feedback accounts to the highest bidder. The winners then steal images of high dollar items and put them up for sale. They won't accept paypal, in fact some recommend sending cash.

 

So you are saying the seller is scamming people because he only got $25,000 for his $38,000 dollar coin? You would not mind explaining that would you? Also, if you look at his current selling, you will find that he still has another 3 to sell.

BTW, How do you know whose picture that is? It could be either of the sellers or maybe more likely a third party's.

 

wow what a shame. but i don't think i would ever make a purchase like that on ebay... even if it was slabbed, that would be a coin to fake.

 

I am strongly suggesting that seller 10cheetah2009 is selling a coin that he doesn't own or have in his/her possession. Any legitimate gold dealer will pay roughly the melt value for it 24/7, which is way more than $25,000. If someone has a rare coin that they sell for less than market value it's possible they are in a rush and can't find a buyer, so they discount the price. If that coin, though, can be melted for $38,000+ than there should never be a shortage of buyers who would pay close to that amount.

It looks to me like 10cheetah2009 has appropriated the photo from another seller (this happens regularly) and offered the coin at a too-good-to-be-true price. The buyer may never receive anything unless PayPal covers his loss (is there a limit?).

eBay seller aldergold has been trying to sell this coin at a fair value for a while. I doubt he/she has any knowledge of what has happened and he/she has been a member for nearly a decade. Anything is possible, I guess, though.

Best wishes,
Peter Anthony
http://www.pandacollector.com/

 

I know what you were trying to infer, but you have ZERO evidence that is what is going on - especially since the seller is now trying to sell three more after the first buyers should have received their coins.

 

Yeah right... he just happens to have three more with a BIN price of $65,000 each... and ZERO feedback as a seller. Yep... believe what you want.

 

Rim's: I'm confused. Cheetah, the cheater (small joke), has sold 2 of these purported coins for $50,000 and has a third one for sale. I think he is a crook and has none of them. Aldergold, on the other hand, has nothing else for sale according to what I just looked up on eBay. He/she, as far as I can determine, was only trying to sell one of these coins and had his photo stolen. What has aldergold done to make you think he/she has done something wrong? Could you please elaborate?

My point in posting this was to make people aware of 10cheetah2009 and what may be very expensive frauds. THANKS.

Best wishes,
Peter Anthony
http://www.pandacollector.com/

 

Thank you pandacollector you just busted a very expensive scam mucho kudos
I filed an eBay report making them aware of the scam. Well see what happens.

 

You have a total of no evidence that he has done anything wrong. You do not even have circumstantial evidence that there is something wrong. All you have done is made it harder for those of us who report problem auctions because they (eBay) has more BS to wade through and less credibility in those who do report.

 

It seems to me that since 10cheetah2009 used a photo that was originally posted on eBay by someone else a week earlier (yes, I can prove that as I have the original posting by aldergold in my records with the photo) the circumstances are very suspicious. This is a fact, not circumstantial – it's a violation of an eBay rule as well as the copyright law. This same 10cheetah2009 than sells at least one of these coins he allegedly has in his possession for $13,500 less than its melt value and subsequently offers to sell 3 more – out of a total mintage of 58 coins. I'm sorry you consider this to be BS but it stinks to high heaven of fraud to me.

Best wishes,
Peter Anthony
http://www.pandacollector.com/

 

Just as proof of your none evidence. If I told you that I gave them both permission to use that picture that I took. Could you prove me wrong? In fact, you cannot prove to anyone who owns that picture or when it was taken.

The price he is getting for these is proof of nothing except maybe his stupidity.

You see, in this country, we are innocent until PROVEN guilty. No one has to prove their innocence. Oh, and suspicions or funny behavior is not even qualify as circumstantial evidence.

 

Yep... if the glove don't fit, you must aquit...

 

Is panda dealer perhaps a bit jealous that he didnt get for $25?

If I were to make that buy, would have used AX CC that gives real buyer protection...not the swiss cheese offered by PP

 

Pandacollector, Your wasting your time, I think RLM is a defense attorney - he has to defend the accused. lol Okay, this guy on eBay may not have been proven guilty, but I'd have to say it's all suspicious enough to investigate. I would think too, given eBay's recent policy of withholding funds for those with low feedback, until the item is verified as received, there's little chance of this kind of potential scam working.

 

That's not totally true.

How about if your a suspected Terrorist. You are guilty if they say so until you have to prove your innocence.
Or I know of a case where say Workers Comp says your in violation and you have to prove your not. So your guilty until proven innocent there.

This is not really the case here I know but wanted to make sure you realize that our freedoms and presumption of innocences are being taken from us all the time and we just let them.

 

That's not totally true.

Although I've heard of abuses, in both of your examples, the government should have some evidense that points to your guilt - now it's up to you to prove you're not guilty. It's called the "burden of proof" and it shifts from one side to the other and back and forth during a trial.

 

Yeah... the Johnny Cochran of CT...

 

I also prosecute a lot more than I defend. FWIW over 90% of those I accuse go away.

Aside from that, I would not hesitate buying that coin. The reason they hold the seller's funds is "eBay will cover your purchase price plus original shipping.". (BTW, that is quoted straight for the listing sited.) So, if I fall for this "scam" and get nothing, I lose nothing. eBay will reimburse me for everything I pay. I assure you, eBay will not risk paying out $25,000 twice, let alone once.

 

The only reason you will defend a scammer if that's your scam or you run scams yourself. No other reasoning. Prove otherwise.
And it doesn't matter if eBay refunds the cash, the loophole is eBay loses the 25k in each case, doesn't find this seller or get reimbursed and then eBay tears a new A**hole for all the sellers with jacked up fees.