ESN Direct sold me Fake Coins

ESN Direct sold me fake coins. If you recall about 18 months ago ESN Direct claimed to have bought mint sealed monster boxes of all 30 years of the silver eagle ("the Seattle hoard"). The show host, Robert Parsons, went on television to defraud people about the rarity of the set (graded perfect 70). He went on to say that they were using IGS grading service in order to make the set more "affordable". I paid ESN Direct 15k and it turns out the set is not worth any more than bullion. I have been trying to get my money back for over a year but they moved to a new location and no longer take my calls. To add insult to injury I saw that Lewis Revels of Chattanooga Coin company was selling the same "ultra rare", date run 1986-2016, ms70 set by IGS for 3k. I realize Robert Parsons and the owner of ESN Direct, Scott Singer, were able to rip me off because I new very little about coins and grading and I trusted them. I'm embarrassed for being so stupid but at the same time, stealing is stealing.

 

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I greatly sympathize, but nothing they did was illegal under any law and the coins in question aren't "fake." Only the description of value is. Numismatics is subjective by nature, unregulated as a result (you cannot subject grading to regulation because it's purely subjective), and the hobby is plagued by the morally-deficient willing to take advantage of those who do not perform due diligence as a result.

Yes, there have been prosecutions of companies who do things like this, but your loss is two extra zeros short of any prosecutorial interest. A pattern of behavior of large-scale deception must be established.

I hadn't heard of this business prior to your post; fifteen seconds after Googling them I knew they were not to be dealt with....

 

I remember that Seattle Hoard offer and I'm sorry you bought it.

ESN Direct recently disappeared from TV here, so I wonder if they're even functioning any longer. The consumer complaints about them on the web are numerous.

IGS is a so-called grading service with a history of servicing the TV salesmen.

 

Nice introductory post. Pleased to meet you too.

 

Since ICG doesn't have a price guide .
You have to use FMV .
http://www.coinprices.org/cgi/usrar...any&searchtext=fmv&search8=any&proof=&plus=no

 

Not ICG. IGS.

 

Never heard of them .

 

I am sorry to hear that you got ripped off so bad.

 

We will all help you know if a coin is a good buy or not, just post a thread!

 

IGS isn't ICG.

 

They won't grade error/varieties, nor over $500 owner declared value and several other categories.

 

why would you pay 15K without really researching it first ? you could have got a lot more silver out of 15K. you learned from this mistake. hopefully it will not deter you from collecting more silver and coins. I think we have all been burned on buying certain coins. you learn as you go. ask a lot of questions. ask other peoples opinions on buying with large amounts of silver/coins. always get 2+ opinions from experience buyers before you buy anything unless you know the value of what you are about to buy.

 

I was brand new at collecting, believed the pitch and Robert Parsons himself got on the phone to ensure me that I was getting a "once in a lifetime" opportunity. Ultimately, I kick myself, however, I just don't want ESN Direct to mislead anyone else. I did verify that they never bought mint sealed monster boxes in Seattle. I'snt a federal offense to go on television and intentionally lie to the audience for financial gain?

 

I never have seen an IGS slab any where except on TV. HSN, I believe, used them at one time until PCGS jumped into the hay with them.

 

Look up International Grading Service.

 

Unfortunately as you've found out this hobby is full of crooks. They'll smile while taking your money and then laugh all the way to the bank when the transaction is done. Or they'll offer people a tiny fraction of what their coins are worth while keeping a straight face then once again laugh once the customer is gone at 'their score'.

The one thing that is common in the stories of people getting taken though is ignorance on the part of the buyer/seller. These types of dealers hope for that level of consumer ignorance as it makes what they do that much easier. Really though in your situation there's nothing you can do except ask to return the coins for a refund. And as you've obviously experienced thus far crooks generally don't oblige requests to return/refund. The coins they sold you are real they just aren't worth anywhere near the valuation that was likely claimed in marketing them to you.

If you don't know what you're doing it's best to stick with dealers with a good reputation. You may pay a little more with them than you could find things elsewhere to do so. But you'll be sure you're getting the coins they say you are and many reputable dealers will buy back coins they've sold you later on if you have to sell. You still may lose a little when considering their margins but you'd likely still come out much better than the situation you've experienced.

 

Buyer beware. I truly am sorry for your loss but only a small modicum of due diligence was required to know it was a raw deal. I don't believe any legal remedy is available.

 

Once again: Do not buy coins from television. Just say no.

 

+1 to this, I've never heard of a situation where someone made out well by buying coins via TV. I imagine the only positive cases were people who may have bought TV junk pre 2008 and then were able to sell during the PM run up & price peak.

 

They been trying to sell the 2015-2017 AES on CSN for 2 months now . They try to claim how rare they are ...
But, what do you expect at 5:00 AM, a skin flick ....