International Coin Collectors See Link Very Deceptive

jmdm1194

I opened up the Ogden Standard Examiner this morning and found a 2 page AD for International Coin Collectors. I found their online AD that is virtually identical to the paper AD and can be viewed here. They will be at the Comfort Suites @ 2250 South 1200 West in Ogden from Feb 8th to the 12th. My problem with this AD is that they are advertising Moon Money for coins. It is going to be nothing more than bait and switch. People who have a $500 Indian Head Cent more than likely know what the hell they have. They are going to get peoples hopes up and get the unknowing to bring in those rare wheat cents only to crush them. My guess is that if they are that deceptive on the high end they will also low ball on something that may have actual value. Any thoughts here?????

Darkwaverave

The International Coin Collectors Association is the same old hotel super low-ball buying group as before, but they just changed their name. When I typed their name into Google the first link to appear came from Coin-Fraud.com. A few coin collectors from the Salt Lake area should go up there and see what they offer. I bet they would offer at least $5 bucks for Drunner's Doily Slabs and maybe $10 for the NGC Black slab.

Here is the article from a few months ago:


"Once again, a group of traveling gold buyers has descended on Southeast Texas, setting up shop in the Holiday Inn-Park Plaza on Jimmie Johnson Boulevard in Port Arthur.

This time it is the Ohio Valley Gold & Silver Refinery group- the one that kicked off The Examiner’s ongoing and award-winning investigations into the misleading tactics used by the people trying to separate local residents from their precious metals, antiques and other collectible items.

Ohio Valley Gold & Silver is also known as the Treasure Hunters Roadshow, which is being sued in federal court by PBS’ Antiques Roadshow for trademark infringement. The group is also known as the International Coin Collectors Association, the International Vintage Guitar Collectors Association, the International Military Collectors Association and THR & Associates.

Treasure Hunters Roadshow (THR) in December 2009 after it set up shop in a meeting room at the Comfort Suites on Walden Road. Using three of its employees and asking help from Universal Coin & Bullion’s Mike Fuljenz, one of the leading numismatists in the country, the newspaper determined that THR was offering prices far below the fair market value of the items brought in.

Since that time, The Examiner has investigated THR in five states- Georgia, Alabama, Mississippi, Louisiana, and Texas- and each time the findings were similar. The most recent time THR visited Southeast Texas, the newspaper again sent reporters in undercover who were offered just $8 for a proof silver coin worth more than $1200. After haggling for nearly a half-hour, the hotel buyers offered $30.

The company is based out of Springfield Ill., and has a multi-million dollar operation that travels the country buying gold, silver and other items for pennies on the dollar, The Examiner’s ongoing 11-month investigation has revealed.

Keith Wann, the manager for the show currently in Port Arthur, had little to say to the newspaper when a reporter dropped in on the first day of their stop. Just an hour before the show was set to close for the day, fewer than 20 people had actually visited, yet the advertisement in the Wednesday edition of the Port Arthur News claimed “dozens cash in yesterday with jewelry, railroad watches and guitars. An estimated $200,000 in Port Arthur!”

To set the record straight, a reporter who was outside watching those people coming and going from the show never observed anyone bringing in a guitar. Additionally, the advertisement claimed that a woman named Claudia McDonald “received $825 for a gold coin minted in 1986.”

A search of the Texas Department of Public Safety’s Drivers License Database showed there are only eight people in the entire state named “Claudia McDonald” and none of them live within 250 miles of Port Arthur.

The Beaumont Better Business Bureau warns against dealing with traveling buyers and recommends that people take their items to local reputable dealers and educate themselves before accepting any offers."

Tassa

They were in town last week. I had some spare time on Tuesday so I decided to see what they were offering on typical items. I was offered 3-5x face for 90% silver and $250 less than spot for a 1 oz Krugerrand. My blood was boiling.