recently I have started selling boxes of rolled coins that I got straight from the fed reserve coin rolling company. Another seller on ebay contacted me and told me he was also selling the same item, but he got the coins in the large bags that the fed res sends them to the coin rolling center and he has his own coin rolling machine that he paid $12000 for and he buys NF STRING & SONS wrappers and rolls his own coins. He lists the coins that they are uncir and unsearched. I told him unless they came rolled and sealed in boxes from the coin counting company, you can not say his coins are unsearched as he has every opportunity to look through them as he is putting them in the hopper of the machine at the very least. He says he is a member of the ANA....which to me means not much as all it takes is send them a check and you are a member.....but he says he has to abide by a code of ethics.....well i see no ethics NOT telling people that he rolled the coins himself and therefore it is impossible to say they are unsearched. I contacted the ANA and inquired about filing a complaint....they told me it was either a $50 or $75 fee (I forgot which one) if I a non member wanted to file a complaint. Talk about having a shield to hide behind and get away with being a fraud. Whats your opinion on this.
sam I do not think this is splitting hairs......its about being honest. If you were a collector who favored UNSEARCHED coins for errors and paid premiums for unsearched rolls....I think you would be disappointed and felt ripped off if you found out the person rolled the coins themselves because there that seller had ever opportunity to search the coins. If is was a non issue, why wouldn't the seller just disclose what he is doing.
I agree sound like someone doesn't like his competitor and is slamming them to make his produce look better.
I also get rolls of coins from the Fed at my local bank. Sometimes they contain brand new coins sealed in boxes of 50 rolls that have never been handled but sometimes they contain older coins that have circulated. Maybe your ads shoud say "not searched by me" because you really have no idea whether they have been searched by someone before you got them. Right? P.S. Your shipping cost must be huge.
Just going by what you posted (meaning I don't know anything more than what you posted)... If this guy bought a $12K machine to roll coins, it indicates some volume (one wouldn't buy a $12K machine just to roll a few). Just because someone has the opportunity to search bags, doesn't mean he is. There's a very big distinction there. Unless you have some proof that he's searching through the coins (which I highly doubt given the information you've posted), then I'd give up this battle. Just because the coins aren't rolled at the facility the fed sends them to to be rolled doesn't automatically mean they are searched. If he's saying the copins are rolled at the fed's contractor but he's doing it himself, them maybe you have something, but unless he's misleading people in some way...
Personally, no I wouldn't feel ripped off. If he doesn't search the coins, then I believe he's completely right to say they are unsearched. Because that's what they are.
I throw all my pocket change into a jar every night. When it is full I dump it into my $40 Wal-mart counter/sorter. I never look over the coins as they are automatically dumped into the wrappers and when the rolls are full I put them away to eventually go to the bank. The rolls are 100% unsearched by me. If I were to sell them and say that I never searched through them, then I am being dishonest and ripping people off? Touchekidd, yes the world is full of crooks and you have to be carefull but you must understand that there are honest people still living on this planet.
Do you really think if he is NOT telling people he is wrapping them, he would say he didn't search through them as well. C'mon.....as the saying goes...if it looks like a duck its a duck!
I doubt the whole story. If he spent $12,000 on a rolling machine, and otherwise made a net profit on each roll of fifty cents, he'd have to sell 24,000 rolls just to break even. If he otherwise made a net profit of ten cents (more likely), he'd have to sell 120,000 rolls just to break even. That's a theoretical minimum of 2.4 million coins. Quite a few to search.
I don't think it makes one bit of difference whether he wraps them or not. Just because you receive yours already wrapped, how do you know they were not searched? Maybe the employee that wrapped the ones you bought did glance through the coins to see if there were any he/she could set aside to purchase and take home (just like many bank employees do). Since these coins were not wrapped by you, how can you honestly say they are unsearched? If he truly does not search through them, in my book he's completely justified in calling them unsearched. Who rolls the coins and whether or not they are searched are mutually exclusive facts.
Maybe I should may mentioned he is selling other rolled coins besides the 2004 Nickels.....thought that was obvious
I love the guys selling Wisconsin "Unsearched rolls" Like they didn't search for the error coin. What's funny is I've seen some sell for over $60.00. I wouldn't trust something like this either , but that's just me. Not saying anybody is a crook just that this kind of thing is rampant on Ebay. Its usually the young upstart collectors who get ripped on deals like this. IMO it has the potential to turn away a lot of first time coin collectors which in turn can hurt the industry and is sad. Almost as sad as people destroying old coins that can never be replaced in order to doctor them and try and make an easy buck.
