My dealings with pre-sales

Frany

Back in 1999 I got interested in the state quarters. I have benn doing some coin collecting since I was 13 years old along with using my metal detector. I started buying on eBay in 1999 and there was this person doing pre-sales on eBay. He was pre-selling coin 3 to 5 years before they were minted at a very cheap price. I try to figue out how he was making any money with the price he was selling his pre-sale auctions for. Back then, the interest rate was high and stock market was doing well. I thought well he has it figured out. Guess what, he did not have it figured out because the FBI called me about 8 months after he started his pre-sales. It seems he was taking my and everybody elses money but did not ship the coins to the buyers. The FBI got this person for fraud thru the Post Office, credit cards, eBay and received 5 years in Leavenworth in Kansas. I'm not saying all pre-sales are like this one but things can happen. GREED. So I have a sour taste in my mouth for pre-sales and I congratulate eBay for taking them off of there website. Just my opinion. Yes I lost money and learned a lesson.