Do I Look Like I Was Born Yesterday posted by hunter's gold
0

11 posts in this topic

CSJournals-migration   
  • Member
  • 5,398 posts

Don't be a chump

 

Hi everyone. Was looking on Ebay today trying to add some Lincolns to my registry set when I came across listing number 200331820150. It is for a 2005D NGC MS69 Red Lincoln memorial. I made an offer for $95.00 which is a little over list and was rejected. I then realized the seller was asking $995.00 for this coin. Are you #%*@^+% kidding me. I ask the seller if I had misread the list price and his response was that this is a

Business Strike coin and not a SMS coin. I am very aware of the difference. Wow, some people have a lot of nerve. This coin list for $69.00. It has a population report of 94. I am not an expert by any means because I have made my share of collecting mistakes over the years and it is sellers like this hoping to take advantage of a CHUMP. I took my share of lumps buying coins without having the proper knowledge or info. You should be ashamed of yourself. I do not know how sellers like this do it. Look for yourself and see. $69.00 coin listing for $995.00. Do I look like I was born yesterday?

8163.jpg

 

See more journals by hunter's gold

Share this post


Link to post
Share on other sites
okbustchaser   
  • Member
  • 1,395 posts
  • Location: Oklahoma

His coin; he can ask anything he wants for it. Whether he gets it or not is a totally different thing.

Share this post


Link to post
Share on other sites
Kenneth F   
  • Member
  • 1,479 posts
  • Location: Fort Campbell, KY

Yes, it is his coin. These are the types of ad I used to post on the "Joke of the Day". Price gougers will stick by their prices.

Share this post


Link to post
Share on other sites
jackson64   
  • Member
  • 1,653 posts
  • Location: Chesapeake Bay Shore

This is one of the results of changing ebay fee structures. There are now much, much fewer true auctions...and dealers are taking advantage of negligible fees for listing all of their coins in BIN and asking 5-10x values for them ( and they sit there month after month after month)..but it only takes one new collector or uneducated buyer to fall for these crooks tactics to make it worth while for them...

 

If you think "crooks" is too harsh a word, try selling something else, like a used car as "rare" when there are many, and asking 10x the blue book value--you'd probably end up in court...

Share this post


Link to post
Share on other sites
matthewmetcalfe-migration   
  • Member
  • 21 posts

I agree it's their coin and they can ask what they want but it shows a lack of moral character. Someone who knows the value of the coin isn't going to pay the price so it seems he's intentionally targeting people new to the hobby or just plain unaware. That's a shame because the person who spends a grand on a penny to fine out it's worth $70.00 is going to carry a negative impression of the dealers in the hobby with him for quite awhile.

 

 

Share this post


Link to post
Share on other sites
okbustchaser   
  • Member
  • 1,395 posts
  • Location: Oklahoma
I agree it's their coin and they can ask what they want but it shows a lack of moral character. Someone who knows the value of the coin isn't going to pay the price so it seems he's intentionally targeting people new to the hobby or just plain unaware. That's a shame because the person who spends a grand on a penny to fine out it's worth $70.00 is going to carry a negative impression of the dealers in the hobby with him for quite awhile.

 

 

On the contrary, the person who pays a grand for a coin without doing even the minimal amount of research necessary to discover the true market value of the coin has only himself to blame. He obviously has internet access since he's shopping on ebay so how hard is it to look at a price guide?

 

 

Share this post


Link to post
Share on other sites
matthewmetcalfe-migration   
  • Member
  • 21 posts

I'm going to have to disagree with you on this. $1000.00 for a $70.00 penny is an egregious example with a HUGE difference in asking-price and actual value. I would imagine most of these are more of a doubling or tripling in value for a coin and are harder to determine, especially when price guides vary as much as they do.

 

Price gouging varies in it's forms. I don't begrudge anyone from trying to make a profit on their coins. In fact if the guy gets a grand for his Penny, good on him. I still find him to be an unscrupulous person and a poor reflection on the community. If he is in fact tied into NGC or PCGS his character would reflect the character of those companies by virtue of association.

Share this post


Link to post
Share on other sites
James_OldeTowne   
  • Member: Seasoned Veteran
  • 15,660 posts
  • Location: St. Louis, MO

Unfortunately, anyone can ask anything they want for an item he wishes to sell. It's up to the potential buyer to set the market value by either agreeing to the price, rejecting it outright, or offering a lower price.

 

Share this post


Link to post
Share on other sites
hunter's gold   
  • Member
  • 657 posts
  • Location: Florida

I did state that anyone can ask what they want when selling an item, but over 15 times the actual cost is very unprofessional for some one that is a certified NGC coin dealer. This seller is by far one of the worst offenders on Ebay

Share this post


Link to post
Share on other sites
jackson64   
  • Member
  • 1,653 posts
  • Location: Chesapeake Bay Shore

the same person who thinks it is okay to sell an uninformed buyer a $70 coin for $1000 will also offer some little old lady $70 for her dead husbands $1000 coin set...

 

 

I find this thread depressing, what happened to right and wrong? The world has gone bizarro more everyday..now it is the victim's fault for being robbed...probably the victims fault for being mugged ( should have researched how dangerous the neighborhood was)..the victims fault for being raped ( shouldn't have worn provactive clothing)...sheesh..I think I'm gonna take another long hiatus from these forums...

Share this post


Link to post
Share on other sites
moondoggy   
  • Member
  • 386 posts
  • Location: IL

This is the same guy who used a photo of one of my Kennedy's in an auction on E-Bay. Yes I caught him and filed a complaint

Just check out the E-Bay name that should give you a clue of how much honor he has.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
0