Coin shops in this area are robbing people blind

jdimmick · July 31, 2015 1:04PM

I just had to post this as I am just in disbelief with what's going on here locally at some of the other shops:

last week, lady calls me after the fact with a set of Sacagawea $ and some other loose ends, already sold the other coins to one of the other shops . They paid here 6.00 a coin for a complete set of Peace silver $(yes 21, 28 and 34-s ) and complete set of silver eagles incl a couple of proofs. She had no idea as the value and they refused to buy the stuff she ended up calling me on. (I really didn't want t either, but did at least make an offer)

Same store, two days later because they call me on stuff that they cant buy. While I was there, guy comes in with complete set of merc dimes, they buy it at silver price. 9x face. Pays them 73.00 then offers it to me at 750.00 (which I refuse)

today, guy calls about some coins. Had herd from somebody he knows about my fair offerings, and wanted me to look at some stuff he had. Informs me that he had already sold of most of it yesterday, but they wouldn't take the rest. I say Ill take a look, comes in with a set of ikes , and misc junk sets, and stuff. I asked him what did he sell , sold two books of morgans and a box of silver $. At that point he informs me that when he got home , he started doing some checking and realized he may have not got such a good deal after all. He really didn't know the specifics on what he sold them . I called the shop with him sitting in my office and asked them I herd you guys picked up a set of set of morgans . I was told yes they did , some nice coins , several Choice UNC CC's , practically a whole set of morgans missing just a few , additional 2 row count box of f-VF morgans, peace $ set and some other 90%. I was then told ,by the shop , we hit one out of the park on the deal.
after I finished my own deals , I rode over and sure enough they did . They bought like 7500 worth of coins wholesale priced for 2500 bucks. guy was literally screwed.

it was bad enough when the traveling motel buyers were coming several years ago, but now several of these other shops are doing the same thing , they got a taste of screwing folks and getting by with it.
I wish more people would check around before they sell.

yosclimber · July 31, 2015 1:11PM

One fairly simple solution is for collectors to make sure they take care of selling their valuable coins themselves, instead of giving them with no instructions to clueless heirs.

Raybo · July 31, 2015 1:12PM

This just makes me sick.

How can a local BM shop stay in business with "references" like this?

jclovescoins · July 31, 2015 1:13PM

Ouch. How do you market your place? Too bad you cant get this customers, treat them more fairly and make something in the process...

ms70 · July 31, 2015 1:18PM

Just like an illness, it doesn't hurt to go around and get a 2nd or even 3rd opinion.

DRUNNER · July 31, 2015 1:20PM

I try to fight it as hard as I can . . .

Back in the day, I was an ANA Sectional Rep. They did away with the program, but I still try to help out in this area. Our (SLC) shops are better -- not attempting to cast ANY doubt on them -- but I inventory, grade, preserve, and do a Word Doc on all sorts of collections. I have never asked for any compensation -- although seeing an owner light up when they hear that little Lincoln Cent in the Whitman album granddad put away is worth $1000 just makes my day. Just finished up one collection last night . . . golf buddy. Nothing there huge but about $300 face in 90%. Another collection coming out of CA I evaluate on the 18th . . . and of course, all for free. I give them realistic values, and they are then 'protected' against the predators (again, none local I know of). Full itemized report of every coin, date, grade. Sheeeezzzz . . shops get $75 an hour for this???

Oh . . . one condition . . . I have to remain with 'no dog in the fight' . . . so I refuse to buy anything in the collections. I send them to the local shops, who know if I have previewed due to my report in the customer's hand. Presto -- no screw job. Just a fair deal if the shops wanna do it.

Just an outgrowth of the old SecRep program. Too bad the ANA doesn't give me a medal for each collection I did out of the goodness of my heart. Luckily . . . .not that many collections need my help.

Drunner

rhedden · July 31, 2015 1:43PM

Sounds like we've returned to the 1980s. Ugh.

commoncents05 · July 31, 2015 2:01PM

Have them review your place and the other place on Yelp, GooglePlaces, etc. It helps you in the search engine algorithms and if people run across their negative reviews, it will at least make them think twice and hopefully drive more business your way.

-Paul

Wabbit2313 · July 31, 2015 2:24PM

What are the names of these crooked shops?

Also, if someone does not want to buy something and the customer says well what would you give me. If you make a lowball offer not wanting it and the person takes it since they just want out of it, it is what it is. You don't have to sell.

TopographicOceans · July 31, 2015 2:34PM

The only reason B&M coin shops exists is for buying from the public.

Some are fair and others not so much.

BLUEJAYWAY · July 31, 2015 3:45PM

One would think in these instances that this would not reflect well on the coin hobby as a whole. And may not serve to enduce new collectors into our reralm. Caveat emptor,or in this case let the seller beware (informed).

Zoins · July 31, 2015 4:04PM

<< I just had to post this as I am just in disbelief with what's going on here locally at some of the other shops:

last week, lady calls me after the fact with a set of Sacagawea $ and some other loose ends, already sold the other coins to one of the other shops . They paid here 6.00 a coin for a complete set of Peace silver $(yes 21, 28 and 34-s ) and complete set of silver eagles incl a couple of proofs. She had no idea as the value and they refused to buy the stuff she ended up calling me on. (I really didn't want t either, but did at least make an offer)

Same store, two days later because they call me on stuff that they cant buy. While I was there, guy comes in with complete set of merc dimes, they buy it at silver price. 9x face. Pays them 73.00 then offers it to me at 750.00 (which I refuse)

today, guy calls about some coins. Had herd from somebody he knows about my fair offerings, and wanted me to look at some stuff he had. Informs me that he had already sold of most of it yesterday, but they wouldn't take the rest. I say Ill take a look, comes in with a set of ikes , and misc junk sets, and stuff. I asked him what did he sell , sold two books of morgans and a box of silver $. At that point he informs me that when he got home , he started doing some checking and realized he may have not got such a good deal after all. He really didn't know the specifics on what he sold them . I called the shop with him sitting in my office and asked them I herd you guys picked up a set of set of morgans . I was told yes they did , some nice coins , several Choice UNC CC's , practically a whole set of morgans missing just a few , additional 2 row count box of f-VF morgans, peace $ set and some other 90%. I was then told ,by the shop , we hit one out of the park on the deal.
after I finished my own deals , I rode over and sure enough they did . They bought like 7500 worth of coins wholesale priced for 2500 bucks. guy was literally screwed.

it was bad enough when the traveling motel buyers were coming several years ago, but now several of these other shops are doing the same thing , they got a taste of screwing folks and getting by with it.
I wish more people would check around before they sell. >>

Once of the easiest ways for people to check around is via Google if the store's name is mentioned. If you want people to check around successfully, it may be worth mentioning their name as requested above.

morgandollar1878 · July 31, 2015 4:15PM

That is really sickening, I don't know how those b&m dealers can sleep at night knowing what they are doing to people. I can only hope that the word gets around about them, and what they do to people. I know that when selling things you should know what you have before you sell it but some people do not have the time, resources, or knowledge to do so. I couldn't live with myself if I did this to people.

rkfish · July 31, 2015 9:28PM

jdimmick,
While this type of activity makes me want to hurl this is exactly why I opened my shop five years ago.........let me also say that this type of activity goes on with collectors/vest pocket part time collectors/dealers also. I have several local "wannabes" that bring stuff they buy from locals into my shop and sell all the while if the original seller had brought in would have netted more money. I listen to these same stories from "part time" collectors/dealers (whatever you call them) who have absolutely ZERO overhead.......trust me when I say this type of activity is not limited to the local B&M's.

Sad but true......do your homework!

ricko · July 31, 2015 10:24PM

Very sad.... I hate to see this type of thing.... and I know it is far more common than not...Cheers, RickO

BillJones · July 31, 2015 10:55PM

You are probably right about the dishonesty, but to play devil's advocate, are you sure that the Mercury Dime set was complete?

If you are selling a circulated set, and it is missing the 1916-D, 1921, 1921-D and 1942 over 1, you are looking at something that is not worth much more than silver. You might disagree with this, but without the keys a circulated set is not a great buy for a dealer. Quite often you have to break the set up and sell it as single coins, and I can tell you from personal experience that it takes forever to sell the common dates one at a time. In fact the later dates are just junk silver.

amwldcoin · July 31, 2015 11:16PM

<< You are probably right about the dishonesty, but to play devil's advocate, are you sure that the Mercury Dime set was complete?

If you are selling a circulated set, and it is missing the 1916-D, 1921, 1921-D and 1942 over 1, you are looking at something that is not worth much more than silver. You might disagree with this, but without the keys a circulated set is not a great buy for a dealer. Quite often you have to break the set up and sell it as single coins, and I can tell you from personal experience that it takes forever to sell the common dates one at a time. In fact the later dates are just junk silver. >>

Do you think that dealer would offer Jimmy a set of mercs without a 16-D for $750???? How in the world could you think it didn't have a 16-D? Most sets do not include the 42/1.

Silver Dollars and Silver Eagle for $6 each straight across the board? Can you play devil's advocate to that?????

BAJJERFAN · July 31, 2015 11:39PM

<< jdimmick,
While this type of activity makes me want to hurl this is exactly why I opened my shop five years ago.........let me also say that this type of activity goes on with collectors/vest pocket part time collectors/dealers also. I have several local "wannabes" that bring stuff they buy from locals into my shop and sell all the while if the original seller had brought in would have netted more money. I listen to these same stories from "part time" collectors/dealers (whatever you call them) who have absolutely ZERO overhead.......trust me when I say this type of activity is not limited to the local B&M's.

Sad but true......do your homework! >>

When those sellers bring their ripped off booty for you to buy do you tell them to F O or do you lowball them or?

rkfish · July 31, 2015 11:46PM

When those sellers bring their ripped off booty for you to buy do you tell them to F O or do you lowball them or?

Tom......I pay the same prices I would anyone that brings in material to my office to sell. One thing I like to do at night is sleep well.

Bottom line is this........DO YOUR HOMEWORK! Information is SOOOO readily available these days......

roadrunner · July 31, 2015 11:54PM

<< Sounds like we've returned to the 1980s. Ugh. >>

I don't think we've ever really left the 1980's. I've not seen any difference in how "most" B&M shops in my state have operated since the early 1970's. Trying to buy at 20c-30c on the dollar is quite typical when the buyer knows nothing. Probably the shop I feel is the best around in my area succumbed to this a few years back when they bought a group of some really rare raw US coins worth over $20K each. It was a $80K-$100K deal that they bought for 30c on the dollar. A non-collector could have done some looking up in coin books and found general prices for those coins. But no way could they have got the grades right...and grading is a huge difference. Had they shopped those coins from shop to shop I suspect they'd have been low-balled at each one. And had they used the price from the first shop as "leverage," they'd have been dead in the water.

A fresh shop opened up in my area about 6 years ago to take advantage of the rising bullion prices. They were screwing people left and right and laughing about it at shows. They bragged to me on how they finagled a front row table at a big show in the Philly area and got to fleece clueless newbies as they came through the door with items to sell. I drove through their town last fall and they were gone. I guess the well finally ran dry. There's a reason that >95% of what I've sold over the past 35 years has been to other than B&M shops in my state. There are better places to get fair value. For every Jim Dimmick there are several others of "those guys." In the 1980's I'd have told you to avoid 80%-90% of all B&M's. While that number may not be as high today, especially with slabs having helped, it's not a whole lot lower than that number imo.

mr1931S · August 1, 2015 12:07AM

Someone off the street bringing in the typical,run-of-the-mill Mercury dime collection in a folder can expect an ethical,"beyond reproach" dealer to identify anything special he sees right up front. It's unethical in my book, no matter where you're from, for a dealer to immediately offer just silver price when dealer can see that all the holes in a merc album have a coin in them,for example.

Someone bringing in a bag of Mercury dimes is another matter. I,as a dealer,would be able to look at myself in the mirror next morning by offering just silver price,maybe a little more if I immediately see some potential for better dates and grades to be found in the bag when I go through them.Most likely I would check the bag later for better dates. I Find a '16-D in the bag? That's my good fortune and it came without any chiseling from me.

What goes around comes around. Collector should develop some sense for bad karma coin dealers and avoid. Sadly,it seems the bad far outnumber the good these days.

Yorkshireman · August 1, 2015 12:08AM

Makes me ill.

PerryHall · August 1, 2015 12:10AM

<< Bottom line is this........DO YOUR HOMEWORK! Information is SOOOO readily available these days...... >>

Great advice for the elderly widow who is still grieving her husband's death and is forced to sell his collection to pay for his funeral.

rkfish · August 1, 2015 12:29AM

Great advice for the elderly widow who is still grieving her husband's death and is forced to sell his collection to pay for his funeral.

I will be the first to admit that I don't have ALL the answers for ALL the different scenarios but I'm a local guy (retired 28 years state law enforcement) that has lived in the same community/county my entire life and brought up by a father who DROVE it into our heads! A man's reputation/word is all he has! Like I said earlier........I sleep well at night.

nwcoast · August 1, 2015 12:35AM

Makes me sick!

I've seen this type of activity take place in one of my local shops with an elderly widow.
Haven't stepped foot in the place since!
Really sickening part is just how sincere they seem in their efforts to convince the seller what a favor they're doing for them!

Edited for "they're" not their

DaveG · August 1, 2015 12:48AM

I seem to recall another "buying from the public" threads a few years back, in which the dealer who posted said that "if I offer a fair (and much higher than they can get around here) price, then the seller gets all suspicious and won't sell to me because he's convinced that what he has is worth millions."

As I recall, his implication was that the secret to buying from the public is to offer enough above face so that the seller thinks he's making a "score", but not so much as to press his greed/fear button.

Personally, these stories just reinforce the idea that the collector is responsible for either selling before he dies or else must leave complete instructions for his heirs on how to sell.

PerryHall · August 1, 2015 12:55AM

<< Great advice for the elderly widow who is still grieving her husband's death and is forced to sell his collection to pay for his funeral.

I will be the first to admit that I don't have ALL the answers for ALL the different scenarios but I'm a local guy (retired 28 years state law enforcement) that has lived in the same community/county my entire life and brought up by a father who DROVE it into our heads! A man's reputation/word is all he has! Like I said earlier........I sleep well at night. >>

Don't get me wrong. The bad dealers are in the minority but they give the coin dealer profession a bad name just as a few bad apples among the pawn brokers and used car dealers. Thanks you for your service as a law enforcement officer and as an honest coin dealer.

rkfish · August 1, 2015 1:03AM

Don't get me wrong. The bad dealers are in the minority but they give the coin dealer profession a bad name just as a few bad apples among the pawn brokers and used car dealers. Thanks you for your service as a law enforcement officer and as an honest coin dealer.

Thank you!

I've learned after the years of service and my years as a dealer (plus being on this board) not to take anything personal.....

DAVEG said it best and instructions I give any serious collector after good safe, good firearm/safety deposit box, insurance, and complete instructions in case of accident/death as to what is in the collection and a approximate value to each coin (if certified) and groups of coins if bulk.

telephoto1 · August 1, 2015 1:22AM

Wow... sounds like the guys in your area are paying sub-pawn shop prices. I hate hearing stories like this because they only feed the myth that ALL dealers act this way. Dealers who want longevity in this business don't pull stuff like this. These guys are bottom feeders that rip and zip whenever they smell blood. I feel bad for the folks who got hosed.

That said-not blaming the victims here, but I never have been able to fathom why people don't bother to educate themselves at least a little bit about things they inherit before running off to immediately liquidate them. In this internet age it is really easy to do at least enough research to determine whether you potentially might have something of significant value. You don't need to be an expert, or even a coin collector for that matter to at least do some minimal homework. If nothing else get 2-3 different bids, or go online to get a few recommendations for someone reliable in your area...maybe even image some of the stuff and post it for comments about value...or, pay someone a few bucks for their time to appraise the deal for you before you start shopping it around.

johnny9434 · August 1, 2015 1:30AM

theres a coin dealer a few towns over that does the same thing ( short changes people who dont know ). their reputation is not the best in this area and they have to travel to coin shows to do their deals. its a shame

FullStrike · August 1, 2015 3:46AM

Coin Dealers are businessmen. Crooked businessmen are the norm.

If you find an honest businessman , report that.

Cougar1978 · August 1, 2015 4:27AM

Question for the OP:

Do you also have an area shop? Or do you run an ad as I am curious how your getting calls from these sellers. It seems like they are running it by a shop first, the shop takes the good stuff and then hitting your ad for the leftovers - are you advertising in Numismatic publication, local newspaper or what?

It sounds like the modus operindi of a dealer from another city having the only shop in town who would set up next to me at a local show. He had really impressive stuff, but it was priced 100% retail or more at a show which was predominately wholesale buyers. He did tell me he came to buy (obviously not sell unless at full retail). So was his buying cash coming from his shop or deals he bought at the shop he flipped to dealer friends at the show? Of course if he was buying stuff at 20-30c on the dollar at his shop he was not going to brag.

BAJJERFAN · August 1, 2015 4:48AM

<< When those sellers bring their ripped off booty for you to buy do you tell them to F O or do you lowball them or?

Tom......I pay the same prices I would anyone that brings in material to my office to sell. One thing I like to do at night is sleep well.

Bottom line is this........DO YOUR HOMEWORK! Information is SOOOO readily available these days...... >>

Not to be combative, but it doesn't help matters when honest dealers give these "wannabees" a ready outlet to sell the stuff they ripped from someone else.

Zoins · August 1, 2015 5:19AM

Is one reason this continues to happen because the names aren't published so that people who aren't "in the know" continue to be easy prey?

rkfish · August 1, 2015 5:23AM

Not to be combative, but it doesn't help matters when honest dealers give these "wannabees" a ready outlet to sell the stuff they ripped from someone else.

Tom,

I don't take it as combative and never will......honestly, I run my biz the way I would want to be treated if I was a collector, vest pocket guy, dealer, novice, 10 year old kid or grandma/grandpa. I try and be fair with everyone and still keep the doors open. I hear more stories in the shop than you can shake a stick at.......true/false? I'm sure some are and I'm sure others are fluff, entertainment, etc. The way I see it is, I can only control ME.......I'm in the country, rural farm area 30-45 minutes in each direction to a city. (not large at all) We buy not only coins, gold, silver, currency, but anything that walks through the door that I think we can make a buck on......everybody is a "picker" it seems these days and most like to "gloat" when they "score." but you never hear the stories of all the "scores" that failed. (but that's another discussion)

If you ever open a store Tom I assure you it would enlighten many areas for you as it has me.........I still love coins, talking to people, and doing biz the good old fashion way!

BAJJERFAN · August 1, 2015 5:33AM

<< Is one reason this continues to happen because the names aren't published so that people who aren't "in the know" continue to be easy prey? >>

Just saw this past week where someone took one of the local property management outfits to task on CraigsList.

Zoins · August 1, 2015 5:36AM

<< 

<< Is one reason this continues to happen because the names aren't published so that people who aren't "in the know" continue to be easy prey? >>

Just saw this past week where someone took one of the local property management outfits to task on CraigsList. >>

Does this happen for coin shops? These complaints for B&Ms have been going on for years and decades but it seems rarely are names mentioned allowing these things to continue.

bestday · August 1, 2015 5:36AM

<< One fairly simple solution is for collectors to make sure they take care of selling their valuable coins themselves, instead of giving them with no instructions to clueless heirs. >>

Times are tight for B&Ms ... very slow summer ....

BAJJERFAN · August 1, 2015 5:40AM

<< Not to be combative, but it doesn't help matters when honest dealers give these "wannabees" a ready outlet to sell the stuff they ripped from someone else.

Tom,

I don't take it as combative and never will......honestly, I run my biz the way I would want to be treated if I was a collector, vest pocket guy, dealer, novice, 10 year old kid or grandma/grandpa. I try and be fair with everyone and still keep the doors open. I hear more stories in the shop than you can shake a stick at.......true/false? I'm sure some are and I'm sure others are fluff, entertainment, etc. The way I see it is, I can only control ME.......I'm in the country, rural farm area 30-45 minutes in each direction to a city. (not large at all) We buy not only coins, gold, silver, currency, but anything that walks through the door that I think we can make a buck on......everybody is a "picker" it seems these days and most like to "gloat" when they "score." but you never hear the stories of all the "scores" that failed. (but that's another discussion)

If you ever open a store Tom I assure you it would enlighten many areas for you as it has me.........I still love coins, talking to people, and doing biz the good old fashion way!

>>

Funny thing is I was just talking to a coin club member the other night who used to work at a coin/jewelry shop. No doubt he had tons of stories and anecdotes other than the few he mentioned.

roadrunner · August 1, 2015 5:57AM

<< ....I hate hearing stories like this because they only feed the myth that ALL dealers act this way. Dealers who want longevity in this business don't pull stuff like this. These guys are bottom feeders that rip and zip whenever they smell blood. I feel bad for the folks who got hosed. >>

In my B&M days it was the norm for dealers to act that way. And all of them had as much longevity as they liked. Most that I knew were dealers until the day they died. Some the luminaries today that pulled this kind of stuff back in the 1960's to 1980's have exceptional longevity and guru-like status. Frankly, I've always figured it's those dealers who are trying to keep integrity and honesty at the highest of levels don't seem to do as well as the flim flammers. Any time I told someone they had something valuable the odds that I could ever purchase it from them was near 0%. They'd always finds someone willing to pay a little more than what I offered. It seems illogical the coins brought in by widows and orphans are usually successfully low-balled....but, it's what seems to frequently happen. The entire business is illogical at times. It's easier to rip someone off where both parties feel "good" at the time than it is to other a "fair" price and risk not even getting the deal.

Coin Dealers are businessmen. Crooked businessmen are the norm. If you find an honest businessman , report that.

Still hard to find in today's world are the honest car dealer, honest auto mechanic, and the honest coin dealer.

golden · August 1, 2015 6:01AM

Back in the early 1970's I walked into my buddy's coin shop. He showed me a 1793 Wreath cent in Good on so condition. He had just bought it from a walk in customer for $150 which was a fair price for the time. The customer had first taken it to another shop in town. My buddy asked me how low I thought anyone would offer for the coin. I said that anyone would have to have a lot of nerve to offer less than $50. He said the other dealer ( who was a preacher ) offered the customer $5!

jdimmick · August 1, 2015 7:22AM

Let me Post a follow up to some of the comments:

1) I don't have a shop any longer. Sold it to a gold buying outlet going on 3 years ago due to being robbed and almost killed once and 3 min from being hit again a couple years after that, this time my son was with me in the store.
I work from an office now, Luckily my name and reputation have helped me make it using this venue vs a store front for at least the people who know me or referrals from them. The group I sold the shop too , were also shady, and it took a long time for people to realize that they were not me and that I had nothing to do with their operation. Thankfully , they moved across town to another location and don't operate the old location( my old store front) any longer. This has helped, along with getting all the search engines corrected . took a lot of time and $ to do this.

2) One of the shops in question actually has good reviews because most of the people don't know they were ripped unless they happen to investigate after the fact, like the one guy in my opening comment. Apparently , they don't write reviews.

3) the set of dimes were complete with 21 21d and 16d all ag to Vg , but complete and yes, the rest are pretty much melt as that's how I would buy them too. and then pay for the other three.

4) Ive lost a couple of deals for being honest, I have posted this in years past, one in particular was a 1841-C $5.00 where I made a strong offer , and because it was so valuable, they kept it and sold the other generic stuff. Only to find out 2 monhts later, son stole the coin from mom and sold it to the gold buying shop for 100 bucks coin is worth 2500 probably 3k now.

5) Not going to be able to openly state the shops, as I have to deal with them myself. Just because they rip people , I still have to buy off them if something comes in there place, so I can make money on on top of that for my business.

6) This place has always been a terrible place for people needing to sell in a hurry, folks wont check around, they fly to the fastest quickest place to unload, a place that's always open. Most of the time, they usually don't have much, but other times if they just happen to inherit something even a large collection , they do the same . First stop, they let loose and sell it all.

There are so many places to sell coins gold silver in this town, its unbelievable, with all the pawn shops, gold buying shops and coin dealers and wannabe's is very thinned out.

I do advertise, and have a good rep here, but again, people just don't do their homework, Its their loss if they don't.

Jinx86 · August 1, 2015 7:35AM

As a coin shop employee it nearly makes me tear up reading post like this. I love it when costumers almost explode into tears when I tell them how much their collection/inheritance is worth. Just last year I had a family bring in a bag of coins they were hoping to get enough money for their kids tuition, around $8000, after going through everything I wrote them out a check for $28K. They almost couldnt contain it. They could actually afford to put both kids through college on with the sale of the collection. I still have most of the inventory, but its worth while items Im willing to pay to have in our shop.

What I hate most about my job is telling someone they got ripped off or that something is fake. With nearly 40 years of business here in the community people know to trust us, the other coin dealer in town too. I really cant say much bad about my competition witch I think is a good thing. If I have customer doubt my offer price I tell them where the other coin dealer in town is.

crazyhounddog · August 1, 2015 8:39AM

I have a guy like that in my little town. Yes it makes me sick too.

pennyannie · August 1, 2015 9:26AM

You also have the educated seller, the one that checked the internet and saw that his vg 1884 cc morgan is worth 5k

rkfish · August 1, 2015 9:35AM

You also have the educated seller, the one that checked the internet and saw that his vg 1884 cc morgan is worth 5k

that's for a new thread!

jdimmick · August 1, 2015 10:32AM

Yeah,

I get that too. Lady came in yesterday with a a bag of junk, cull large cent worth about 3-4 bucks on a good day, she tells me where she saw on line it was worth like 500 Bucks. I politely explain, sometimes they get it other times they don't.

On the positive note had a collection (That I hope to get) shortly, where they drove down from about an hour away, when I gave them the price , they were blown away. I think they had no idea as to the value. These coins were like off the market for 20 years.

UtahCoin · August 1, 2015 10:37AM

Maybe you could get the local TV station to do one of those "investigative consumer fraud" type stories.

jmski52 · August 1, 2015 11:51AM

jdimmick, are you going to tell us what town you live in? It could be helpful.

Wabbit2313 · August 2, 2015 1:18AM

<< 5) Not going to be able to openly state the shops, as I have to deal with them myself. Just because they rip people , I still have to buy off them if something comes in there place, so I can make money on on top of that for my business. >>

So it is OK as long as you also can make money off from the rips. So why start the thread?

BAJJERFAN · August 2, 2015 1:35AM

<< 

<< 5) Not going to be able to openly state the shops, as I have to deal with them myself. Just because they rip people , I still have to buy off them if something comes in there place, so I can make money on on top of that for my business. >>

So it is OK as long as you also can make money off from the rips. >>

That was sorta my drift to a post earlier in the thread. The sad reality is that failing to do business with lowball buyers won't put them out of business. As long as their marks don't do their homework, they'll continue to get shafted. If you don't buy their stuff someone else will.

Coin shops in this area are robbing people blind

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