way to many scamers today.

hey guys,

just a topic to throw out, but there are way to many scamers. I just watched a video of coinflation.com about how so many dealers and buyers and scaming their customers. a travling coin show was going to pay $6 a piece for morgan dollars. the real coin shop across the streat tried to pay the $100 for 8 morgan dollars. I was looking for coins on craigslist the other day and there was a guy advirtising "75% quarters" and "25% half dollars". sad how many untrustworthy people there are today.

 

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I just read about that on there, 6x face for Morgans?!?! Now if you thought the scamers were bad enough, the scammers are 10x worse!

 

Actually, in reality, there's just as many today as there were 25 years ago, or 50 years ago.. even 100 years ago. The only reason it might seem like there's more is our technology and communications today is better than it was in the past. Think about it, Kim Jong II's death would have take days or weeks to reach the United States if it was 150 years ago, now it just takes one twitter post and it's viral within minutes.

 

Those traveling antique shows stink. But you should also watch out for your neighborhood coin dealer too. Back in 2005 my great aunt had a sack of old coins she wanted to sell, Morgan Dollars and one was a Half Dime. My parents took her to a local coin shop which they always passed on the way to my dad's chemo appointments. The dealer paid her a total of $70. I don't know the dates or mintmarks or the condition of the coins but according to Dad she had quite a few Dollars. One of the dollars she only got a buck for. I hope it was an SBA or Ike dollar. I would have paid her a lot more if I knew she was going to do that.

 

Some of them are within the realm of reasonableness. I went to a hotel buyer at the Marriot that is there every week Thurs. to Sunday. He offered me $400 for a $5 Liberty that is AU55/58, before gold took a dive. Super Jewelers was $300 for that coin and a couple of Washington half dollars.

Brookfield Coin said that the hotel buyers buy a lot of stolen material, and it gets melted immediately so that the cops have nothing to go on. But Connecticut passed a new law with a substantial holding period. Question is whether they are enforcing it yet.

I bought some gold coins from a dealer last weekend over $4000 in cash, he doesn't want checks. That bothers me in terms of paper trails that serve everyone's interest. I know him well enough so that he does not deal in stolen coins.

 

Too* many scammers*

 

When people see media ads and selling channels doing it without recourse, it becomes easy to rationalize that bending the truth or being deceptive, is permissible.

 

Perhaps you & I could meet at the next Danbury coin show. Do you know when the next Danbury show will be?

 

And that's why many of those advertisers end up on the hit parade of various attorney generals. Remember the major advertiser, tax lady, Roni Deutsch? She is now behind the eight ball. http://consumerist.com/2011/05/tvs-tax-lady-roni-deutch-closes-firm-surrenders-law-license.html

Remember the herbal viagra alternative ad with the smiling guy, "Bob"? Raided: http://pharmamkting.blogspot.com/2005/05/two-bobs-enzyte-vs-viagra.html

Stay tuned with the coin scammers. THE RAIDS ARE COMING!!!

 

In the spring. The fall show had to be cancelled as Phil's driveway was blocked by downed trees and the governor declared an emergency because of the freaky snow storm.

 

If there are too many scammers now, how many would be just enough? How would we know if there weren't enough scammers? I say one is too many.

 

A close friend (who knew that I knew something about coins) needed some money and took a $5.00 gold piece to a coin dealer in her town without asking me first. The coin had been in a jewelry bezel and had been given to her by her late father. It was ungradeable but she made the mistake of mentioning its "collectibility" due to her sentimental connection and the age of the coin, totally ignoring the bullion value.

The dealer had her figured out and convinced her that since the coin was damaged, it wasn't gradeable and therefore not collectible. He took it off her hands for $200.

Once I told her that the gold value alone was over $350, she felt scammed but at that point there was nothing which could be done.

I'm not saying that coin dealers are scammers but I am saying that folks need to do just a small bit of research before letting go of their coins.

 

I "love" the places that advertize top dollar for your gold and then with a straight face offer you 30% more on certain days!

 

The problem is two fold although I don't necessarily agree with the morals of dealers taking advantage of people it's also on the people desperate for cash or not doing research selling the coins for so little themselves. In this day and age almost every free public library has computers with internet one can use free to look up the coins they are considering selling and see what they are worth these dealers are simply preying on stupidity and desperation it's really no different than lots of businesses do.

 

I just wanted to make a slight correction which comes with an advanced college degree from a fully accredited university.

Thread title should very likely be: (I could be wrong on this) "Way too many scammers today". Spell check feature would be nice for future thread posters. LOL!:hail::dead-horse:

 

Spellcheck would not have caught the incorrect use of "to".

 

Nice catch Hobo, good eye!!! I wasnt going to say anything

 

Eventually the programs will be good enough to do grammar checks. Just one of my pet peeves. If the computers are getting so much better, why aren't they getting smarter?

My bias comes from tournament chess where it has been around 10 years since computer programs have essentially solved the game, even a decent laptop with "Shredder" or the latest Fritz program can beat the grandmasters. And they don't have computers they need for law enforcement and for advanced business needs? Unbelievable.