Home› U.S. Coin Forum
Options

ripped off

sawyerjoshsawyerjosh Posts: 416 ✭✭✭
in U.S. Coin Forum
I live in Maine. There is a shop where I live called the "Gold Experts," who pay for gold an silver and pledge to pay the highest prices. I was at work and I was talking to an older lady. She said she was payed $12 each for 10 Morgans two weeks ago! She was told they are quite common and aren't worth much and they showed her "graphs" of years of Morgans that are very numerious. I feel she was ripped off and I can't believe these types of businesses exist. I asked her why she went to them and she said because their radio ads made them seem honest.
As a seller: USARarities, acloco, coindudeonebay, Twinturbo, MICHAELDIXON, blu62vette, mothra454, LukeMarshall, USARarities
As a buyer: QualityCurrencycom, tychojoe, AurumMiner, Collectorcoins, perfectstrike, ModCrewman, LeeBone, nickel, REALGATOR, MICHAELDIXON, pointfivezero, Walkerguy21D
Trades: georgiacop50

Comments

  • dollarsandcentsdollarsandcents Posts: 486 ✭
    Your point?
  • RampageRampage Posts: 9,511 ✭✭✭✭✭
    It's a better rate than some I have seen people post about.
  • MsMorrisineMsMorrisine Posts: 35,566 ✭✭✭✭✭
    the scam is losing its shock value image
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • cmerlo1cmerlo1 Posts: 7,955 ✭✭✭✭✭
    I feel bad for her, but there are plenty of resources available that she could've educated herself with. People are responsible for their decisions. That doesn't mean the 'We Buy Gold' people weren't bad, but they thrive precisely to feed on people like her.
    You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
  • COALPORTERCOALPORTER Posts: 2,900 ✭✭
    $12 each for 10 Morgans ????????????

    Am I lost on something ? thats about 1/2 of melt isn't it ???
  • drwstr123drwstr123 Posts: 7,049 ✭✭✭✭✭
    "A foole & his money,
    be soone at debate:
    which after with sorow,
    repents him to late."
    Thomas Tusser, 16th century
  • NickcapNickcap Posts: 977 ✭
    With a we buy gold business on each corner here in Houston, $20 is tops that is paid for Morgans.

    While she may not have recieved melt, those places are in business to make money.
    Morgan Everyman Set
    Member, Society of Silver Dollar Collectors.
    Looking for PCGS AU58+ 1901-P, 1896-O, & 1894-O
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    yes she was ripped off. Wish those gold places were out of business
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • milkcoinmilkcoin Posts: 583 ✭
    Yeah, so? Who cares.
  • JustlookingJustlooking Posts: 2,895 ✭
    Those are gold experts, all right. She wasn't paid; she was played.

    I think those types of shops are convenient for people. If you have gold to sell, you naturally would go to a place with a "GOLD" sign out front. Plus, if they advertise, they HAVE to be honest, right? No newspaper, radio station or TV station would run ads for someone who was dishonest, now would they?

    Sad state of affairs.
    Let's try not to get upset.
  • PerryHallPerryHall Posts: 46,785 ✭✭✭✭✭


    << <i>Your point? >>



    I think he trying to warn any new collectors that may be reading the forum that there are crooks masquerading as legitimate gold and silver buyers. Us old timers already know about these crooks but there are people who are new to this who need to be warned.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • RobertSRobertS Posts: 485 ✭✭
    Thnks for the post sawyerjosh. I visit your neck of the woods from time to time, Portland area. sorry to hear about the lady that got taken.
  • BAJJERFANBAJJERFAN Posts: 31,234 ✭✭✭✭✭
    So what is a fair price [to you] to pay for circulated Morgans?

    Give one price based on your heart and the other based on your head.
    theknowitalltroll;
  • UnknownUnknown
    This content has been removed.
  • NickcapNickcap Posts: 977 ✭
    The issue with some people is they will not go to multiple shops.

    Honestly, what is a good price a gold shop should pay for silver?

    Morgan Everyman Set
    Member, Society of Silver Dollar Collectors.
    Looking for PCGS AU58+ 1901-P, 1896-O, & 1894-O
  • WTCGWTCG Posts: 8,940 ✭✭✭
    It always surprises me how more people don't randomly trip over more.
    Follow me on Twitter @wtcgroup
    Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
  • camlov2camlov2 Posts: 123 ✭
    A quick google search of "how much is my morgan dollar worth"

    first link is an about.com page that gives $24 for common date morgans. Not the most current data but a lot better then $12
    http://coins.about.com/library/US-coin-values/bl-US0100-Morgan-Dollars-Prices.html

    second link is hobbizine link that lists them at $34 for lowest grade
    http://values.hobbizine.com/morgan-dollars.html

    It isn't right to rip someone off but I can't feel too bad for someone who can't do a single google search.
    Looking for Northern California National Bank Notes, Chico, Redding, Oroville.
  • PerryHallPerryHall Posts: 46,785 ✭✭✭✭✭


    << <i>A quick google search of "how much is my morgan dollar worth"

    first link is an about.com page that gives $24 for common date morgans. Not the most current data but a lot better then $12
    http://coins.about.com/library/US-coin-values/bl-US0100-Morgan-Dollars-Prices.html

    second link is hobbizine link that lists them at $34 for lowest grade
    http://values.hobbizine.com/morgan-dollars.html

    It isn't right to rip someone off but I can't feel too bad for someone who can't do a single google search. >>



    The person who was ripped off was an "older lady" so she probably didn't own a computer or know how to use one. Let's not blame the victim here.


    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • libertydudelibertydude Posts: 243 ✭✭
    It's hard for me to feel bad for her. She obviously knew the Morgans contained silver and were thus worth more than face value. It's her own fault for believing their sales pitch without further research/inquiry into silver prices, etc. These places exist to make money. It's no excuse to blatantly lie, but everyone should know that all sales businesses exist to maximize profit. It's the consumer's responsibility to educate themselves before agreeing the terms of a sale.

    But really..... was she ripped off if she was happy with the money that she received? Nope.

    EDIT: I think it's lame that the elderly are always excused just because of their age (e.g., racist remarks, being rude, etc). Is there some age threshold where one cannot simply ask, "What's the silver content worth?" She had to known the Morgans contained silver!
  • greatnortherncoingreatnortherncoin Posts: 412
    local junk shop wantabe coin shop is paying 12.00 for morgans here to
    dont send sheep to kill a wolf...
  • ResRes Posts: 1,086


    << <i>

    << <i>A quick google search of "how much is my morgan dollar worth"

    first link is an about.com page that gives $24 for common date morgans. Not the most current data but a lot better then $12
    http://coins.about.com/library/US-coin-values/bl-US0100-Morgan-Dollars-Prices.html

    second link is hobbizine link that lists them at $34 for lowest grade
    http://values.hobbizine.com/morgan-dollars.html

    It isn't right to rip someone off but I can't feel too bad for someone who can't do a single google search. >>



    The person who was ripped off was an "older lady" so she probably didn't own a computer or know how to use one. Let's not blame the victim here. >>



    She doesn't have access to a library a relative a neighbor a friend? Everyone has access to a computer. They even have them in prisons.

    Maybe she was a thief and just dumping them with no questions asked.

    100% her fault.
  • AUandAGAUandAG Posts: 24,921 ✭✭✭✭✭
    If she had just left that place, not selling her Morgans, and ran right into you. What would
    you have done if she said she wanted $15 each and not what they offered. What would
    you do then?

    bob
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • johnny9434johnny9434 Posts: 29,135 ✭✭✭✭✭


    << <i>

    << <i>Your point? >>



    I think he trying to warn any new collectors that may be reading the forum that there are crooks masquerading as legitimate gold and silver buyers. Us old timers already know about these crooks but there are people who are new to this who need to be warned. >>

    exactly.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Format
SpoilerCodeQuote
Heading 2Heading 1
Emoji
:):D:(;):/:o:s:p:'(:|B):#:*<3o:)>:)
Url
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
Home • U.S. Coin ForumComment As ...