What do you think about this.... (poll)

Peaceman

Recently bought 100 VG-XF Peace dollars from a large silver & Gold dealer.

This BBB company advertises that a bag of 100 Vg-XF Peace dollars contains "77.34 Ounces of pure silver". On a different note, they also did not mention in their ad that many of these coins (over 50% for me) were scratched, polished or "problem" coins. They just go by the ANA standard for the grade (full rim, some devices still present but worn) but that's another story.....

Back to the advertised amount of silver..... Take a look at this picture.



The coins on the right are full weight coins. Coins on the left, their coins, clearly show that I'm almost short 1 coin in just a roll.

I sent back 9 coins to them that I didn't feel made the cut:



I asked them to replace these with correctly graded coins and also made the point in a letter about the "77.34 Oz." of silver that was advertised. I asked for an additional 3 coins to make up the difference in weight. They exchanged the 9 and did not receive any additional coins to make up the weight. The shipping cost to send the package to them became a "credit" in their system.... which I don't think I'll ever use. Now, I've spent more $ per coin than I should have....

What say you? Vote.

Peaceman

Bueler....

llafoe

Why do people that buy junk silver think they'll get something other than junk silver?

GrumpyEd

<< <i>I'm almost short 1 coin in just a roll. >>



By height but probably not by weight. It's mostly the rims that made the stack shorter.

Most people deal with junk silver only by weight or by face value, that would have solved this.

I voted 1 & 2.

keets

why are you angry about weight and showing us a picture of height to make the point?? what did the 100 coins weigh?? as grumpyed stated, junk silver is typically sold by the dollar, so you bought $100 face and paid a premium because they are mixed Dollars which is also typical.

weight, please...........................

DNADave

you should have known better.

Coinosaurus

Not a lot of sympathy in the voting here.

Frankiefanatic

this is silly

.03 is too much time to have read this

let alone respond

TomB

You are not showing evidence of weight, but rather are showing evidence of height. Since the rims are raised and will wear down sooner than the bulk of the coin it means that the height will reduce faster than weight as a percentage.

AMRC

Let's see. 77.34. Carry the one. Divide by 100. Subtact the height of the worn rims. Call the BBB. I think I got it!

Well, maybe not.

blue594

We need weights. If not the entire 100 coins, maybe of the two sample stacks in your pic. What is the difference between them?

John

RRich2004

<< <i>Recently bought 100 VG-XF Peace dollars from a large silver & Gold dealer.

This BBB company advertises that a bag of 100 Vg-XF Peace dollars contains "77.34 Ounces of pure silver". On a different note, they also did not mention in their ad that many of these coins (over 50% for me) were scratched, polished or "problem" coins. They just go by the ANA standard for the grade (full rim, some devices still present but worn) but that's another story.....

Back to the advertised amount of silver..... Take a look at this picture.



The coins on the right are full weight coins. Coins on the left, their coins, clearly show that I'm almost short 1 coin in just a roll.

I sent back 9 coins to them that I didn't feel made the cut:



I asked them to replace these with correctly graded coins and also made the point in a letter about the "77.34 Oz." of silver that was advertised. I asked for an additional 3 coins to make up the difference in weight. They exchanged the 9 and did not receive any additional coins to make up the weight. The shipping cost to send the package to them became a "credit" in their system.... which I don't think I'll ever use. Now, I've spent more $ per coin than I should have....

What say you? Vote. >>



Let me ask you, were you buying these as unsearched Peace dollars, or as junk silver?

If it was junk silver, then you got what you paid for, 77.34 oz. of pure silver.

notwilight

Weigh the two piles.

When buying junk silver for bullion prices, I don't think you can be that picky. I didn't vote because you didn't have a "mountain out of a molehill" choice. --Jerry

thebeav

I can't get VG money for the three peace dollars in your photo.
No rims, no VG.......

johnny9434

you brought junk silver. what else do you want?

tightbudget

I sometimes wished companies would at least put a disclaimer next to the actual silver weight stating that the weight is based on uncirculated coins and that some silver may have been worn off in circulation. On the other hand though, you did get what you paid for since the ad did state that you'd be receiving VG-XF coins.

anablep

So the question now is, what are you going to do with this purchase you are clearly unhappy with?

Shamika

I think you're lucky they exchanged the coins you returned.

Amigo

Every Dealer in the Country puffs what they sell, and undergrades when buying.

Two weeks ago I sold 500 Silver Dollars to a Wholesaler, all in various grades. 121 of them in VG-VF. They said I overgraded and wanted to pay me $1 less for each under our locked price. It was a bunch of hokey BS, there might have been a handfull of problem coins. They just chose to see how much they could squeeze out of me. I didn't appreciate it all and may not sell them any more in the future. On the other hand, if you're buying a bag of VG-XF, you got just what I would expect. Silver Dollars carry a premium over other junk silver, however it's a very low premium right now.

magikbilly

Hi,

I'm sorry, did you just say you were a coin short of a roll? Oh, I am just kidding

Best wishes,
Eric

cladking

There's nothing whatsoever wrong with th bag being light though they should
have informed you that circulated bags would be due to wear. I don't consider
it in the least unethical merely less than good business practice. I would refuse
to give a refund on this basis but would change my advertising.

However giving you more than a very few problem coins is misrepresentation and
with half of them bad it's a blatant ripoff. If they advertise VG to VF then the vast
majority should be in these grades or at the very least they should be represent-
ative of average circulated for these grades. It looks as though you actually just
got the rejects.

The only caveat here is that if they were primarily just selling these as silver and
this was clear in the ad then it doesn't matter that thy are junk unless there are
also an inordinate number of light coins by excessive wear, holes, filings, or any
other process.

fcloud

There is a reason it is called junk silver. Bulk is bulk and that is what you get. Nothing wrong, maybe you should have asked first. The dealers around here pay on face value and sell on face value not weight.

bushmaster8

Next you'll be buying unsearched bags of wheaties, and you'll make the observation that it is quite strange that most of the various date/mm's were present in multiples of 50.

cladking

<< <i>

>>



I'm surprised at the way most people are responding to this thread. If he had bought these at
melt price or melt basis then I could see the lack of sympathy but he bought VG-VF coins and half
are problem coins. A VF with a gouge is not a VF. Apparently half of these wouldn't grade at all.


I'm also a little concerned that a couple of these appear to have the rims ground off and the pile
of dollars doesn't seem to sit quite right. As coins get thinner they're suppposed to nestle more
closely together rather than leave gaps.

This all just smells rotten to me. Perhaps cutting your loses and running is the best option but
I can certainly understand the concern.

Again though the price relative spot is pretty critical here and it isn't mentioned.