105,000.00 bucks for 2500 Kennedy halves???

mrearlygold

Got an email from someone yesterday with a French address. Wanted to know if I'd be interested in helping him with his "investments" in coins in the US. I usually delete these emails but this one I replied to. Well the guy called me from France and explianed what he's going thru and could I help.

Apparently he bought 2,500 Kennedy halves from a company called lloyds and Associates in NY, and that the coins are supposedly being "stored" for him at another place called Premier Depositories, also in NY I believe. The coins were sold to him as MS-67's ( sure) AND supposedly "certified although I forgot to ask him by whom.

I told him they sounded like their worth on the order of 5-6 times face but certainly not more than 10 bucks each in the best case. He then told me he paid 105,000.00 ( !!!!!) for these coins.

I directed him to the NY Attorney General Office and the FTC and advised him to file a criminal complaint. This is the second such scam I've been faced with this week with the first one in New Jersey and now New York City.

Anyone have information on this or any thoughts??

Whew
Rgrds
Tom

Russ

Can I have this guy's phone number?

Russ, NCNE

Sandhawk

Why Russ, Are you looking to make some profit on your extra Kennedies??

mrearlygold

I was told by a good friend of mine that he heard about this in the grapevine. They target Europeans. This is another blight on America and the coin business as far as I'm concerned and people like this should be in prison. I am trying to compile information so as to help these people who have been cheated and scammed and although it's probably not possible for them to recoup their money, maybe we can read a headline about these types going off to prison.

I see nothing humorous about it.

Tom

Sandhawk

Don't you think that before you go dropping $105,000 on an investment, a person would do some research and check references??

Don't get me wrong, I do feel sorry for the guy and hate to see things like this happen.

mrearlygold

Thanks and considering the only "name" you have is "sandhawk" then you don't have any credibility for dialogue.

Tom

Russ

The must be okay, they have a PCGS logo on their web site.



<< <i>This is another blight on America >>



It's not an American company. They are headquartered in Zurich.



Russ, NCNE

mrearlygold

It's an American company with a corporate identity in zurich.

Interesting that the PCGS logo is on there. Thanks for the link. David Hall needs to be aware of this.

Rgrds
Tom

MICHAELDIXON

I received this several months ago. If I'm not mistaken, the guy posted it on the BST boards, also.

MICHAELDIXON

I brought it to the top on the BST Board. Then, he had 694 of them. The thread is titled: PCGS graded 1967 MS67 Kennedy Halves

Russ

<< <i>It's an American company with a corporate identity in zurich. >>



It's the other way around.

Russ, NCNE

mrearlygold

Can you believe this?

Lloyds and its associates are the largest and most respected association of precious metals dealers in the United States. The company currently provides over 90,000 clients with assistance in protecting and building their wealth by diversifying their portfolios through investments in gold, platinum, silver and other coin and bullion related investments. Our specialized expertise and extensive international contacts in the investment community enable us to provide you with an informed perspective on all of the political and economic factors that will affect your investments in tangible assets.

Lloyds and Associates has become one of America's largest full-service tangible asset investment firms because we care about helping our clients preserve the value of their money over the long-term. For that reason, tangible assets are more than just investments to us. They are keys to the future for those with the foresight to preserve and build their wealth. We have assisted many wealthy individuals and families in better protecting and further increasing their wealth through the creation of rare coin and precious metal portfolios. However, we take equal pride in creating wealth for clients whose fortunes are still works in progress, whether they already have substantial capital to protect, or are just beginning to plan for the future.

To assist you in achieving your objectives, we can recommend an array of options from raw bullion bars to rare bullion coins, called numismatics. Some of the country's foremost numismatists will select and evaluate rare U.S. coins from the inventory available within our large network of traders at the time you are ready to invest. As the largest retailer of precious metals in the United States, we have preferential access to coins and collections. When we buy coins for inventory, we use the grade provided by a third-party grading service. In fact, the rare coins that we offer to our clients have all been evaluated for sharpness of strike, lustre, toning, overall aesthetic appeal and, of course, anticipated liquidity and resale value.

MS68

Tom- Stop attacking anyone that does not come running to your unfortunate French gentlemans rescue. While I think it is disgusting that he was taken advantage of by some unscrupulous outfit in New York, he could have done a bit of legwork and avoided the whole mess altogether. I wish him luck with getting some of his money back and hope your post may enlighten some other gullible soul to avoid a situation such as this.

mrearlygold

<< <i>

<< <i>It's an American company with a corporate identity in zurich. >>



It's the other way around.

Russ, NCNE >>




No way Russ. Wish that was so, but no way. Time will tell.

Rgrds
Tom

mrearlygold

<< <i>Tom- Stop attacking anyone that does not come running to your unfortunate French gentlemans rescue.


Not attacking David. Responding.

He's not French, he's Irish, living in France.

Tom

Gonfunko

Geez! I went to that website and had to close it so that I didn't have a seizure! And I thought the Pinnacle banner was bad!

Russ

<< <i>No way Russ. Wish that was so, but no way. Time will tell. >>



If this is an American company, why are both versions of their domain name registered from overseas? You will note that the original domain without the "NY" at the end was registered a couple of years before the "NY" version.

Michael,

That's an interesting thread in BST. He's offering to sell about 300 more PCGS MS67's then actually exist.

Russ, NCNE

earlwbollinger

Well there is a "victim", the victim can report it on the FBI's website under Internet Fraud.
They'll look at the complaint and forward it, if needed, to the appropriate law enforcement agency.
The victim should include as much info about it as possible, including URL's and such.

mrearlygold

<< <i>I brought it to the top on the BST Board. Then, he had 694 of them. The thread is titled: PCGS graded 1967 MS67 Kennedy Halves >>



Michael,

Do you have a link to this?

Thanks
Tom

SemperFI

There are so many of these scams going around with detailed information that it actually sound real. I called my mom one day and she said someone contacted her saying someone in our family from Italy had left a ridiculously large amount of money for my mom but did not have any information about her to get it to her. The person asked for her address, bank account to transfer the amount her phone number to better get in touch with her. It was sad that my mom actually thought it was real. They already hijacked some of her information that was floating around and she emailed them her phone number. Luckily I called my mom two days after this incident and told her that I rcv about 10 of these a month from stories of Sheikhs in Iraq to you have won millions.

Maybe this is where the terrorists are getting their finances, directly from the US public.

mrearlygold

Here's another excerpt

If you tend to be a short-term player and want a fast in and out approach you should have a greater percentage of your money in bullion coins. If you're patient and are looking for potentially big profits based on past price history your selections will favour high grade PCGS rare coins.(www.pcgs.com) http://www.lloydsandassociates.com/1024/index.html

Whew

Tom

jeffnpcb

Did they use the PCGS price guide as hype to sell these coins? If they did, maybe your French friend can get BNE to represent him against PCGS and Collectors Universe for over-evaulating their graded coins and let a company dupe him on these figures into buying pocket change coins! Of course, this should be a PRO-BONO case for BNE!

This has happened before and will happen again! It is called greed at both ends,buyer and sellers at fault!

cladking

This thread's got everything. Terrorists, fraud, and the destruction of the US's image
around the globe. There is, however, one important thing it lacks, and that's the ob-
servation that $40+ each is a highly favorable price for PCGS MS-67 Kennedys.

I'd guess that he's in a huge profit position though the market is still so small that this
number may be difficult to sell in a timely fashion.

mrearlygold

There is, however, one important thing it lacks, and that's the ob-
servation that $40+ each is a highly favorable price for PCGS MS-67 Kennedys.


Ya, all 2500 of them!

Tom

cladking

<< <i>There is, however, one important thing it lacks, and that's the ob-
servation that $40+ each is a highly favorable price for PCGS MS-67 Kennedys.


Ya, all 2500 of them!

Tom >>



Oh. I suppose there aren't that many graded, huh?

Russ

<< <i><< There is, however, one important thing it lacks, and that's the ob-
servation that $40+ each is a highly favorable price for PCGS MS-67 Kennedys.

Ya, all 2500 of them!

Tom >>

Oh. I suppose there aren't that many graded, huh? >>



If considering all years, there are quite a bit more than 2500 graded. A quick calc comes up with more than 7000.

Russ, NCNE

mrearlygold

<< <i>

<< <i><< There is, however, one important thing it lacks, and that's the ob-
servation that $40+ each is a highly favorable price for PCGS MS-67 Kennedys.

Ya, all 2500 of them!

Tom >>

Oh. I suppose there aren't that many graded, huh? >>



If considering all years, there are quite a bit more than 2500 graded. A quick calc comes up with more than 7000.

Russ, NCNE >>




I don't buy or sell kennedy half dollars. However, I was told they were all 1964's.

Tom

Russ

<< <i>I don't buy or sell kennedy half dollars. However, I was told they were all 1964's. >>



They wouldn't be PCGS certified, then. Between both mints only a little over 50 have ever made that grade.

Russ, NCNE

mrearlygold

<< <i>

<< <i>I don't buy or sell kennedy half dollars. However, I was told they were all 1964's. >>



They wouldn't be PCGS certified, then. Between both mints only a little over 50 have ever made that grade.

Russ, NCN >>




Right and he told me that the "firm" told him they were worth 50 bucks each based on "wholesale" PCGS price guide information. The best part is coming. They sold him this "investment" idea on the basis that these coins were truly undervalued rarities and that "they" would store them and "trade" them in behalf of the "client" and "roll over" his profits into other areas.

So after he bought them and they told them they went "up" he said when are you going to trade them? They replied, "we've decided to not trade for third parties anymore as we are too busy trading our own accounts".

Typical boiler room.

Tom

Russ

They sound like a nasty outfit. It might be tough for him to recover since they're not an American company.

Russ, NCNE

relayer

That's why you should only deal with companies based in Romania

jeffnpcb

If they haven't traded them, he should request to see them!

mikeschmidt

Anyone who spends over $100k without doing any due diligence is basically an idiot who gets what they deserve.

Period.

100proof1957

"PONZI"
"RICO"
"BS"
"BENDOVER"