Hotel buyers gone wild! Long story inside

With the overhead costs of their business - advertising, travel, and lodging its no surprise they have to buy low to make it work, especially if they are flipping it somewhere like the Bay. However, I am amazed at some of the really low ball offers illustrated in this thread. I don't see how an experienced numismatist could even keep a straight face, etc making such an absurdity of an offer.

 

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One of these places(not the same company) ran an ad in my paper. And I'm REALLY hoping this is a typo or a misunderstanding or something, the said they pay 100% of face for 90% silver!

 

Whats the world coming to seriously!

 

I've seen similar tactics in established coin shops.
They don't get charged with fraud.

 

I just checked the THR website, and the ICCA IS one of their subsidiaries.

 

What would be fun to do is get a room in the same hotel and set up your own buying venue with advertising in the lobby claiming you'll pay more than the other guy. Perfectly legal and nothing they could do about it.
Guy

 

Or just run a counter ad offering to grade/appraise all items prior to the event. Specifically state that you wont buy any items, just give a signed valuation to give people a better idea of what they should expect to be paid(wholesale)

 

An article from about a year ago:

http://www.sj-r.com/top-stories/x593978074/Treasure-Hunters-president-defends-business

They came to my area (Houghton, MI) earlier this year. Unfortunately people don't listen...

(from my local paper): "more than 500 people had taken part, and about $40,000 was spent on items brought in"

...Makes you wonder what the actual value was.

On the bright-side, this area DOES have a respected dealer who wrote to the paper and explained how bad these people are, and how badly they ripped everyone off... but by then it was too late. If and when these knuckle-heads come back, they will face more opposition.