Ya gotta love the Gold buyers!!!
keets
Posts: 25,351 ✭✭✭✭✭
So a customer comes into the shop, has a $50 AGE in a bezel they want to sell/pawn. I look at it, flip it over and ask about the dark spot on the reverse. She tells me they just came from "Cashland" and the guy there scratched it to make sure it was OK. I asked her why he did that and she said the guy didn't even ask, she handed him the coin and when he returned it was scratched and had a dark spot from acid.
Nice!!
Al H.
0
Comments
To the Cashland guy it is gold, to you it's a coin. Big difference.
bob
I think you should ask before you deface someone else s property, JMO
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**I think you should ask **
that is what the customer said, she handed it to him and before she really knew what was happening he walked away to a back room and then returned.
that was very nice of him to authenticate it for you.
And then he apparently made a lowball offer to boot....
Imagine if it had been a high-grade Lib or Saint.
When God handed out brains, he used a teaspoon on some people.
A lot of them coin dealers.
Smoe folks is persnickety about their bullion and some not. The same school of folks who say it doesn't matter would most likely use it as a reason to lowball you.
Maybe she should get a written offer from you and take that to Cashland for compensation of damages!
How stupid to deface someone's jewelry piece without talking price and terms before doing so.
The Cashland person certainly should have asked but even without the spot does anyone buy common AGEs in bezels for more than melt?
it's crackers to slip a rozzer the dropsy in snide
I've often wondered how many gold libs/eagles continue to be melted by these gold buyers. This guy obviously didn't intend to resell the eagle after "testing" it this way. Not that there's a shortage of AMG's, but still.
I would guess that Cashland did not even offer melt.
Years ago a metal buyer acid tested some silver of mine before buying. I was naive then and said go ahead. After it tested fine, I didn't even want the coin anymore.
Lacks respect and appears to try to take advantage of people by partially destroying the value of their items. Typical douche.
"A dog breaks your heart only one time and that is when they pass on". Unknown
Not professional according to how I was raised, with established standards. At the very least tell the customer it needs testing if one is to buy it. Secondly, not in defense of damaging the item, but numismatically, it was already damaged by insertion into said bezel. Hence, a lot of good coins get taken out of the collectible market this way. Thirdly, the person selling it doesn't seem to have much "sentimental" value attached. And finally, it's a value measured by weight. So the bezel needed testing, too. Right ?
Common sense in many instances is uncommon.
When you walk into a Cashland I believe you should expect to walkout scarred. Candyland different story.
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
it was already damaged by insertion into said bezel.
a few people have said this, I didn't inspect it closely after seeing the "Cashland damage" but from what I saw there was no damage. absent the scratches/acid damage we would have resold it, now it goes to the smelter.
Here is one, was in one of the local gold buying shops earlier this week, guy comes in with three postal commem gold coins , the 1 oz ones, guy tells customer they are gold, but really hard to move, offered him 500 bucks, and they guy took the offer.
that's for all 3
Ouch
Postal commem gold coins?
My shy friend asked me to ask you what you're referencing.
And you gritted your teeth, clenched your fists but kept quiet.
Should he have gone postal?
I would have said SOLD
Remind me not to go to Cashland if I need to get some money out of my collection.
No wonder these businesses are popping up all over. 3 ounces of gold for $500. Unless the coins were stolen, the seller was very desperate or very uneducated on moving gold.
"A dog breaks your heart only one time and that is when they pass on". Unknown
Businesses like this don't always succeed. There was one (an independent) located next to my dentist's office for several years that went out of business about a year ago. The location now appears to be in the process of being converted into a "marijuana dispensary" medical supply business.
As for 'postal commem gold', still very unclear exactly what was being sold.
It would be nice to know in case I would see one someday.
Here in the Midwest, the number of gold buyers with shops peaked several years ago. There are fewer today and some of the survivors need additional/ other product lines to get by.
Businesses like this don't always succeed. There was one (an independent) located next to my dentist's office for several years that went out of business about a year ago. The location now appears to be in the process of being converted into a "marijuana dispensary" medical supply business.
I think there has always been more money in 'pot' than in gold......
Sort of like movies of the old west, where the suspectful merchant puts a light tooth bite on the gold coin to make sure it is real. In this modern version, the merchant just ruins a coin because is a complete moron.
I haven't thought about it in a while but there have not been any ads for the mobile gold and silver buyers that would set up shop in a parking lot for the weekend in some time. Must be because the price is low.
The Cashland guy had no business putting acid on the coin until an agreement was reached in principal depending on test results. He could have weighed it and made an contingent offer, then if the customer agreed tested it. If it was not genuine, no deal and nothing of real value defaced.
K
Had a woman bring me a key date AU 1911 D $2.5 gold Indian, to get graded. I submitted it to PCGS for her. It came back Ex Jewelry. There was damage on the edge from previously being in a bezel. It got AU details. I asked how it was damaged. She told me the dealer up the street took it out of the bezel. I bet a good jeweler could have removed it without damaging it, but not the bullion dealer. And I won’t name names. In the end, she didn’t like my offer (after submission) and kept the coin.
... also, the other damage wasn't the other dealer's doing, or fault.
Here is the photo from that submission.
Certainly the dealer that damaged the coin was wrong to do it without advising the customer prior to the action. That being said, there are a lot of schlock shops out there. I looked up 'postal gold coins' and found this...'Postal Gold Coins are a great, affordable way to own gold at $15.95 Over Spot Per Ounce!
Cheers, RickO
These US Postal Gold Coins contain 1 Troy Ounce of Pure Gold Mixed with Copper to add durability! Designs will be random.
Produced at West Point from 1980 to 1984, the United States Mint issued a series of 1 Oz American Arts Commemorative Gold Medallions, honoring the nation’s most accomplished musicians, painters, authors, architects and actors.'..... Looks like $500 for 3 tozs. of gold was a good deal.....for the buyer.
I'd love to see how the new business tests for authenticity
the United States Mint issued a series of 1 Oz American Arts Commemorative Gold Medallions
that is what I thought they were but I have always called them what is on the packaging, American Arts Commems. in one regard the story related by jdimmick is accurate, the AAC's are a tough sell so they get a lower bid from us, usually $5-10 under spot and I think we sell them around $15 over. they usually sit.
Look up "American Arts Gold Medallions." When these first came out in 1980 you had to order them by mail and, because the price of gold changed every day, you had to get your order form date stamped at the post office. It was the most ridiculous way of selling gold ever created.
Here is a recent article with pictures that MintNewsBlog did about these “postal coins”
http://mintnewsblog.com/revisiting-the-mints-american-arts-gold-bullion-medals/
I do know what the 'American Arts' bullion is, but had never heard them called 'postal commem gold' before now.
I was initially thinking of the tinny stuff churned out by the so-called 'Postal Comemorative Society'.
In 1980-81, an older friend asked me how to sell two full bags of Uncirculated Morgan Dollars. Wowser. I put him together with a Dealer who I knew was properly capitalized and wouldn't cheat my friend. After the deal was done, the Dealer slipped me two Marian Anderson golds as a 'finder's fee', which I was not expecting but happily accepted.
Or they could do it right and buy a non-destructive PM tester.
Those non-destructive testers are probably worth more than the automobile that the 'We buy Gold' guy happens to drive.
Typically a notoriously undercapitalized business.
Wow - I learned TWO things today...
1) that those gold buyers will not only rip you off but they will also ruin your stuff (important to know in case you hare not committed to selling).
2) that the American Arts gold medals, which I do remember, are also called Postal Commemorative gold.
Now I have to figure out which two things to forget to make room for this new information....
**Those non-destructive testers **
they are also not infallible. I would never just test with the gun and nothing else. in our store I tend to be over-cautious with my boss' money so I will test on a small machine we have after locating a hallmark and then scratch with acid. even after all that and having my several years of seeing jewelry some stuff still needs to be cut.
gold filled is the worst for the gun to scan.
Investment wise, health services seems to be where its at the past few months. Go from gold bullion to Columbian gold.
"A dog breaks your heart only one time and that is when they pass on". Unknown
I don't like them either, but would have paid the guy at least 90% of (melt)gold price, are wholesaler only pays us 95% of melt for these, luckily I don't get that many, but this gold shop sells the gold he takes in for at least what I can get, honestly, he probably gets a percentage or two more than I can , due to his volume.
A customer brought in a fruit bowl from 1859 Imperial Russia Winter Palace silver collection complete with hallmarks stamps .875 marked right on the dish oh and the Romanov family imperial seal all over it. A piece of 1 of 1000 items estimated to still exist cataloged of the families historical silver.
Earlier that day the customer had brought the dish to a local hotel where some out of town "antiques, jewelry, gold buyer, coin professionals promised to pay $$$$ Top Dollar Cash for your goods." the people that come in for a weekend and buy up all the locals antiquities and gold for 1/50th of its actual value before skipping town to the next major city meanwhile bouncing checks across the country.
She explained that one of the "Professionals" had taken a file to the corner of the dish, Filed it right down and poured silver tester on it and offered $200 for the dish......
all around collector of many fine things
Bizarreness
"A dog breaks your heart only one time and that is when they pass on". Unknown