Remember the guy who paid retail plus 50% for three $20 gold from 1st American Reserve?

K6AZ

There was a member who posted about buying three double eagles from 1st American Reserve for something like $7500 when the market value was about $5000. I suspected their MO would to offer comeons in non-coin publications, then to hit the victim up with high pressure telemarketing. Sure enough, I just received one of my gun periodicals and found this ad:

1st American Reserve

RYK

I dare you to try to buy the silver eagles without buying something else.

K6AZ

I was thinking of buying some of the gold Eagles and see exactly what their tactics are.

RYK

I have dealt with another Texas-based company, so I will tell you approximately what will happen:

1. You speak with a very pleasant salesperson.
2. While getting your credit card info and address, he will make lots of small talk.
3. By the end of the conversation, it will be like the two of you were old friends from high school.
4. Just when you think the conversation with your old buddy is over, "By the way, we just got a spectacular deal on ___________ , and I am really not allowed to offer it to new customers, but I think you would like them so I will. Would you like to buy a roll of 20 for $14,000?" (at 2 times Trends).
5. You will likely decline.
6. "I understand, how about 3 pieces for $2000?" At this point, you will say just about anything to get off the phone. Hopefully, you resist...
7. You say no thanks, goodbye, and think that is the end of it.
8. The next 18 months you will get monthly calls from your high school buddy offering you stuff. Since I have caller ID, I do not know the details. My buddy tried to sell my wife a couple of times. He even left messages that he said were "very important."
9. Eventually, they figure you are not going to buy anything and stop calling.

ibzman350

<< <i>I was thinking of buying some of the gold Eagles and see exactly what their tactics are. >>




I was thinking the same thing.



Herb

BAJJERFAN

K6AZ

<< <i>Is there smoe kind of internet contact so we can tell em what a ripoff they are? >>



Not as far as I can tell, they don't list a web presence in their ad.

ibzman350

I just called twice...got an answer machine wanting me to leave my name and # so a rep can call me back.

Just hung up the phone, I don't do good talking to machines


Herb

RYK

If you want to get a flavor for what it will be like, talk to these guys. They are offering PCGS MS-65 Saints for $1100.

K6AZ

They say their choice of dates and grading services.

morgannut2

This kind of boiler room telemarketing will continue because dealers view and oppose any law to hinder it as a "regulation" which may hurt their high reputations and bring lots of paperwork.