Home U.S. Coin Forum

Would anybody like a $20 coin for $560?

RussRuss Posts: 48,515 ✭✭✭
Yep, there are a lot of rips on eBay.

I don't know what is more pathetic; the scams this guy runs, or the fact that so many bidders fall for it.

Russ, NCNE

Comments

  • What are you talking about? That's a great bargain for a $150,000 coin.

    -Jay
    small_d

    e-mail me here

    WINNER:
    POTD 8-30-05 (awarded by dthigpen)
    POTD 9-8-05 (awarded by gsaguy)
    GSAGUY Slam 12-10-04
  • I was allmost one of them.

    image
    J.Kriek
    Morgan Dollar Aficionado & Vammer
    Current Set: Morgan Hit List 40 VAM Set
  • The only thing he ever has is PCI slabs. I avoid his auctions like a plague.

    Craig
    The Rede we live by: If it harms none, do what you will.
    image
  • TrooperTrooper Posts: 1,450
    Wow....
    That's a big tag for that coin..
    Tom
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    image
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • I'm out of sympathy for people like this. Someone link in the RAW Trade Dollar he recently bought for $1300. !!!!! It looks nice in the picture, but would you buy a RAW Trade Dollar these days from Ebay and cough up 13 big ones? His ID shouldn't be slo238, it should be stupid238.image
  • When bidding closes at $550 for a "$150,000" coin, people don't get a clue? I mean $130,000 for a $150,000 coin might be a bargain, but doesn't everyone in their right mind realize $550 for a supposedly $150,000 coin isn't a bargain, but a scam?
    I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
  • Wolf359Wolf359 Posts: 7,653 ✭✭✭
    No sure how much to blame the seller. He did start the auction bidding at $2.00....no obvious shilling happened.

  • Wolf359Wolf359 Posts: 7,653 ✭✭✭
    Ok, it closed at around a PR68 DCAM price. If it's indeed DCAM the winning bidder may be ok.
  • RussRuss Posts: 48,515 ✭✭✭


    << <i>No sure how much to blame the seller. >>



    You don't think fabricating a bogus value of $150,000 is a problem? I don't care what he started the auction at, he flat lied about the value of the coin. OTOH, I'm also having a hard time feeling a lot of sympathy for the bidders. It's pretty clear that greed was a big factor there also.



    << <i>Ok, it closed at around a PR68 DCAM price. If it's indeed DCAM the winning bidder may be ok. >>



    The coin is not even a cameo.

    Russ, NCNE
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    ...............ahhhhhhhhhh, finally a good thing about dial-up!! the Coin Mover's page takes so long to load i don't ever let it fully open for my viewing pleasure. that seller seems to really be in vogue the last few months, at least that's when i first noticed them. i assume they will lay out enough rope for the hangman and burn all their bridges before summer arrives. that is, of course, unless the stockpen gets swung open for the next flock of sheep..........or are they goats??

    sometimes i have to wander if the suckers deserve what they wishfully get, but then i need to head off to my confessor and clear my soul. bottom line is that it aggravates me to see these sellers profit.

    al h.image
  • Come on Russ, Its at least a PR66CAM, a $23 coin. I'm surprised you were so far off. image
    PCGS sets under The Thomas Collections. Modern Commemoratives @ NGC under "One Coin at a Time". USMC Active 1966 thru 1970" The real War.
  • Point, set, and match, Russ!

    People are complete idiots if they can't see this for what it is. Come on, if you have something that you really think is 150K, why not cross it over and get at least 70% of the real trend? Matters not though, the guy's going to keep on doing what he does.

    Excuse me while I go take a shower,... I think I picked up some slime somewhere.

    Craig
    The Rede we live by: If it harms none, do what you will.
    image
  • ms70ms70 Posts: 13,946 ✭✭✭✭✭

    The guy might be out of line with claims to the value but he started off at $1 and there's a 7 day return privilege. The bidders are the
    ones who determined the value in the end. It's the buyer's choice to be ignorant. If they have the capability to cruise eBay & purchase
    stuff, then they sure have the ability to search the internet for more information prior to bidding.

    Let the buyer beware.

    Great transactions with oih82w8, JasonGaming, Moose1913.

  • This buyer has spent 9 GRAND on Ebay in the last 30 days. Check it out. I like the $252 1926 S Merc Dime in AU? Can you imagine the treasures that any of us could have gotten with that 9 GRAND instead of a box full of mystery junk. This buyer does not, nor could they ever have worked too hard for their money.image
  • Conder101Conder101 Posts: 10,536


    << <i>You don't think fabricating a bogus value of $150,000 is a problem? I don't care what he started the auction at, he flat lied about the value of the coin. >>


    Did he? He says he uses the Collectors Universe price guide for his pricing, but it doesn't show a value for a Proof 70 DC. What do you think the value of a 70 would be? What ever you think it is would be your opinion, not a "flat out lie". Yes the guide is only for PCGS graded coins and his implication that the prices from it would be valid on coins graded b other service is shady and somewhat unethical. And I will agree that his use of it is misleading but I won't say that he has "lied" about the value. So his use of the $2.00 opening makes the auction acceptable to me.
  • RussRuss Posts: 48,515 ✭✭✭


    << <i>What do you think the value of a 70 would be? >>



    It would be nowhere near his fabricated value of $150,000. Even at 10x the value of a PR69DCAM; even at 20X the value of a PR69DCAM; even at 30X the value of a PR69DCAM; even at 40X the value of a PR69DCAM; even at 50X the value of a PR69DCAM - even at 100X the value of a PR69DCAM, we still don't get to his bogus value.

    The market value of a true PR69DCAM is about $1200.

    And, this coin isn't even a cameo.



    << <i>In the event that a coin in our auctions does not show a value in the price guide, CoinMovers does their best to assign a value that indicates the potential asset value of the coin measured within the proximal relationship of existing price guide dynamics. >>



    He didn't even use his own gibberish policy. The "the proximal relationship of existing price guide dynamics" would put the value at $19,200 for a real PR70DCAM. None have ever been graded at PCGS, BTW.

    Russ, NCNE


  • << <i>When bidding closes at $550 for a "$150,000" coin, people don't get a clue? I mean $130,000 for a $150,000 coin might be a bargain, but doesn't everyone in their right mind realize $550 for a supposedly $150,000 coin isn't a bargain, but a scam? >>



    These people are very frustrating to me coming from a dealer's vantage point. They have money to spend and will get in line to buy junk at hyper-inflated prices, but try to sell them a real coin, meaning strictly graded and problem free at full retail and they won't even answer your email. Drives me crazy to no end.
  • DHeathDHeath Posts: 8,472 ✭✭✭
    To lie is to make statements that are untrue, whether or not the falsity of such statements is known by the speaker. A lie can be a genuine falsehood or a selective truth, a lie by omission, or even the truth if the intention is to deceive or to cause an action not in the listener's interests.

    CoinMovers does their best to assign a value that indicates the potential asset value of the coin measured within the proximal relationship of existing price guide dynamics. The price guide is only one of many indicators of the value of a coin.

    Calling the asset value of that coin $150,000 is a lie, whether or not the falsity of the statement is known to the seller.
    Developing theory is what we are meant to do as academic researchers
    and it sets us apart from practitioners and consultants. Gregor
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    In the event that a coin in our auctions does not show a value in the price guide, CoinMovers does their best to assign a value that indicates the potential asset value of the coin measured within the proximal relationship of existing price guide dynamics. The price guide is only one of many indicators of the value of a coin.

    the above is pasted from the sellers auction page under the heading of Pricing. we shall examine the potential asset value of the coin measured within the proximal relationship of existing price guide dynamics. to do this we will assume for arguement that the coin is indeed a PR70DCAM. hey, hey. get ahold of yourself, this is serious!!image

    below are the values in grades PR65DCAM through PR69DCAM taken from the current PCGS online price guide and population in PCGS grade taken from the online pop report. we will assume for arguement that they refelect accurate sales prices and existing populations. hey, don't make me tell you guys to settle down again. this is serious and you're about to get on my last nerve.

    22 coins graded PR65DCAM---$90
    54 coins graded PR66DCAM---$170 approx. PR65DCAM X 2.
    123 coins graded PR67DCAM---$350 approx. PR66DCAM X 2.
    175 coins graded PR68DCAM---$550 approx. PR67DCAM X 1-1/2.
    58 coins graded PR69DCAM---$3250 approx. PR68DCAM X 6.
    0 coins graded PR70DCAM and no listed value, but we already knew that.

    following this rise in price through the grades and assuming some day a PR69DCAM will be holdered by PCGS, lets assume that the proximal relationship of existing price guide dynamics image remain somewhat consistent. as a matter of fact, let's get wild and crazy and double them so that instead of having a PR70DCAM price 6 times that of the previous grade, it will be 12 times the $3250 price. that comes out to $39K.

    at 24 times we're at $78K.

    at 48 times we're at $156K which shouldn't be confused with anything regarding a PC!!

    i think the coinmover has sadly over-estimated a proximal relationship. did i also mention that the coin isn't a DCAM?? details, details, details................

    please do not strain my patience by defending that kind of price estimating. it is plain wrong.

    al h.image
  • Wolf359Wolf359 Posts: 7,653 ✭✭✭
    Russ, I missed the $150,000 plug. You're correct the seller is a pig. And you're the cameo expert here.
  • RussRuss Posts: 48,515 ✭✭✭
  • lathmachlathmach Posts: 4,720
    But it's certified so it MUST be a Proof 70 Deep Cameo.
    You think the Certifying Authority is wrong? How can that be possible? They must have very highly skilled people doing the inspecting and grading of the coins.
    Maybe you just don't know your Kennedy Half Dollars, Russ. Shame on you.


    Ray
  • jeffnpcbjeffnpcb Posts: 1,943
    32 bids can't possibly be wrong!image
    HEAD TUCKED AND ROLLING ALONG ENJOYING THE VIEW! [Most people I know!]

    NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!

    WORK HARDER!!!!
    Millions on WELFARE depend on you!
  • bearcavebearcave Posts: 3,993 ✭✭✭✭✭
    I've had it! I am going to send all my coins to PCI for grading!

    image
    Ken
  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭
    Gee, I can't even see a CAMEO on the obverse, let alone a DEEP CAMEO. Are you sure this thing is worth $20, Russ?

    As for the $150,000 price, If this guy's name was Pinnocheo (sp) we would not need a space probe to Mars; we could use his nose!
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭


    << <i>This buyer has spent 9 GRAND on Ebay in the last 30 days. Check it out. I like the $252 1926 S Merc Dime in AU? Can you imagine the treasures that any of us could have gotten with that 9 GRAND instead of a box full of mystery junk. This buyer does not, nor could they ever have worked too hard for their money.image >>



    It's really amazing how STUPID some people can be when it comes to auctions. They think they are getting a bargain because someone else only bid a little less than they did. AND they believe the tripe that the seller writes. People sell $150,000 coins all day long for $560! How STUPID can you be?

    I can put up a PQ NGC or PCGS coin up on Ebay and not get squat for it. This guy pays primo money for overgraded garbage in a PCI slab. What am I doing wrong?
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file