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  • percybpercyb Posts: 3,328 ✭✭✭✭

    @jefbay said:
    The check cleared on Dec 2, and they want to wait another 2 weeks to mail it. I'm just asking...why? And the dishonesty has nothing to do with not getting the coin, it has to do with removing negative comments from their Facebook page, and only keeping the good ones. And the rudeness? Calling me four separate times at home to complain that I left a negative review? I mean, who does that?

    I have used a credit card as a means of protection for purchases. Items are sent within 48 hours from my experience. Something to consider going forward if you’re anxious about items you buy. Patience comes with age.

    "Poets are the unacknowledged legislators of the world." PBShelley
  • MsMorrisineMsMorrisine Posts: 33,399 ✭✭✭✭✭

    old enugh to be married, not old enough to know it's standards business practice in all industries to hold a check?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • BStrauss3BStrauss3 Posts: 3,482 ✭✭✭✭✭

    I bought a coin from a reputable B&M coin dealer that was listed on their website. I paid by credit card. They removed the coin from the site and eBay, but also asked for my ID. They had a clearly stated policy that they required ID. It was in the T&C that I agreed to when placing the order. Guess what? No problem - scanned it and sent it to them.

    The vendor stated that they had recently opened their eCommerce site and every transaction above a trivial amount had been fraudulent. I was pleased to tell them I was their first real transaction.

    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
  • MsMorrisineMsMorrisine Posts: 33,399 ✭✭✭✭✭

    an additional note to the op: your bank - yours - doesn't give you ful access to al the money for checks deposited--- they hold them too

    (why do I even have to say this? )

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MizzouMizzou Posts: 519 ✭✭✭✭

    If that were a boxing match, Zack knocked Jeff out in the first round.

    Sometimes I think that animals are smarter than humans, animals would never allow the dumbest one to lead the pack

  • pursuitoflibertypursuitofliberty Posts: 7,008 ✭✭✭✭✭

    Just moved Zach and TECC to the "good guys" list ... welcome to the forum Zach @TECC1990

    Sorry it wasn't a more pleasant thread to start it off


    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
  • dhikewhitneydhikewhitney Posts: 473 ✭✭✭✭

    I really like to hear the rest of the story in a reasonable manner. Well done Zack.

  • BarberianBarberian Posts: 3,678 ✭✭✭✭✭
    edited December 9, 2024 5:37PM

    @TomB said:
    If this was some elaborate plot by TECC to build an alt account to attack the legitimate company and then respond in a professional, thorough manner to build sympathy for TECC then it worked. Genius!

    By the way, I have done repeated business with TECC since the late 1990s and have always had problem-free, terrific transactions and bought and sold great coins with them.

    @TomB said:
    If this was some elaborate plot by TECC to build an alt account to attack the legitimate company and then respond in a professional, thorough manner to build sympathy for TECC then it worked. Genius!

    By the way, I have done repeated business with TECC since the late 1990s and have always had problem-free, terrific transactions and bought and sold great coins with them.

    Have you ever done raw coin purchases on-line with TECC?

    3 rim nicks away from Good
  • TomBTomB Posts: 21,408 ✭✭✭✭✭

    Once, without the coin even being imaged yet, and received a great looking toned Morgan dollar. Other than that it has all been certified coins.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • kazkaz Posts: 9,200 ✭✭✭✭✭

    I haven't visited the ECC's ebay store in a while, think I will check it out. Thanks for the reminder, jefbay, I just may find something for my collection!

  • MsMorrisineMsMorrisine Posts: 33,399 ✭✭✭✭✭

    what was that? was that a backfire?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • BarberianBarberian Posts: 3,678 ✭✭✭✭✭

    I didn't have the same luck or skill when I purchased raw coins from TECC years ago. The ones I chose all had problems that I didn't like. I stopped ordering from TECC. They were friendly and great with returns, though.

    3 rim nicks away from Good
  • hfjacintohfjacinto Posts: 875 ✭✭✭✭✭

    @tecc

    Hi Zack

    Thanks for coming on here! I never knew of your website but I have it marked and hope to buying from you soon!

  • AotearoaAotearoa Posts: 1,511 ✭✭✭✭✭

    What’s a check? Is it similar to a cheque - that thing I vaguely remember from times past?

    Smitten with DBLCs.

  • MsMorrisineMsMorrisine Posts: 33,399 ✭✭✭✭✭

    @Aotearoa said:
    What’s a check? Is it similar to a cheque - that thing I vaguely remember from times past?

    what's it in the maori language?

    those things can be useful today. i'm cheap and it's cheaper than a wire. (i'm between no electronic payments and someone that laughs about concerns over wire fees)

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • HalfDimeHalfDime Posts: 162 ✭✭✭

    if a check clears can it still be bad?

    Yes, even if a check "clears," it can still be considered "bad" if the bank later discovers insufficient funds in the drawer's account, meaning they will reverse the deposit and the check will bounce, leaving you responsible for the funds even though it initially appeared cleared; this can happen if the bank didn't initially identify issues with the check during processing.

    "Clearing" doesn't always mean fully verified:
    While a check may initially appear cleared, the bank might still be verifying the funds, and if they find insufficient funds, they can reverse the deposit.

    Potential for scams:
    Be cautious of situations where a check appears to clear but later turns out to be fraudulent, as this can happen in scams involving fake checks.

  • MsMorrisineMsMorrisine Posts: 33,399 ✭✭✭✭✭

    jefbay, some time after 9am pacific this thread will be locked and you will possibly be banned

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MartinMartin Posts: 999 ✭✭✭✭✭

    Jefbay the pharmacy called

    Martin

  • coastaljerseyguycoastaljerseyguy Posts: 1,407 ✭✭✭✭✭

    I've purchased a raw VF30 Morgan 1891-O Vam 1A1 from TECC via EBAY and was completely satisfied with purchase. If they use to have a B&M office in downtown Cincinnati many years ago I have also purchased several coins from their shop. Always a pleasant experience.

  • seatedlib3991seatedlib3991 Posts: 796 ✭✭✭✭✭

    @TECC1990 . Oh well, there is always a bright side. I am an active collector who shops coins daily but somehow your company slipped through a crack. I have added you to my favorites list. Who knows? Ying Yang, Gain a customer lose a customer. James

  • BStrauss3BStrauss3 Posts: 3,482 ✭✭✭✭✭

    Somebody asked up thread about having a "cleared" check returned and the account debited.

    Your agreement with your bank will define the terms under which the funds of a deposit are made available to you.

    e.g https://www.bankofamerica.com/salesservices/deposits/resources/deposit-agreements/

    and

    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
  • MaywoodMaywood Posts: 2,329 ✭✭✭✭✭

    @coastaljerseyguy said: If they use to have a B&M office in downtown Cincinnati

    Family business in Stow, Ohio and not far from Akron.

    When I worked for a friend at his Coin/Jewelry/Pawn Shop for about 12-15 years starting back around 2003-4 I got to know Dave from The Executive Coin Company. He was one of the principals with his brother and father if I remember correctly. He did a lot of business with my friend. Dave was a regular on the "circuit" in western Pa. and Ohio as their buyer. TECC paid fair and sold fair. We seemed to be on the phone with them regularly and would have a bucket ready when Dave showed up at our table. We did enough business together that we visited each others stores when needed and I got to meet the whole staff, friendly and helpful. If something went south it was quickly fixed, but that rarely happened. The highlight for me was watching Dave and my friend argue about who was paying for breakfast!!

    Sometimes mistakes happen in a transaction. Sometimes our patience gets tested. Being disagreeable doesn't usually help. That's why some genius invented PayPal.

  • ProofCollectionProofCollection Posts: 6,325 ✭✭✭✭✭
    edited December 10, 2024 6:57AM

    @Maywood said:
    @coastaljerseyguy said: If they use to have a B&M office in downtown Cincinnati

    Family business in Stow, Ohio and not far from Akron.

    When I worked for a friend at his Coin/Jewelry/Pawn Shop for about 12-15 years starting back around 2003-4 I got to know Dave from The Executive Coin Company. He was one of the principals with his brother and father if I remember correctly. He did a lot of business with my friend. Dave was a regular on the "circuit" in western Pa. and Ohio as their buyer. TECC paid fair and sold fair. We seemed to be on the phone with them regularly and would have a bucket ready when Dave showed up at our table. We did enough business together that we visited each others stores when needed and I got to meet the whole staff, friendly and helpful. If something went south it was quickly fixed, but that rarely happened. The highlight for me was watching Dave and my friend argue about who was paying for breakfast!!

    What was the bucket for? I'm envisioning Monty Python's Meaning of Life. Surely you're referencing something else?

    @BStrauss3 said:
    Somebody asked up thread about having a "cleared" check returned and the account debited.

    Your agreement with your bank will define the terms under which the funds of a deposit are made available to you.

    e.g https://www.bankofamerica.com/salesservices/deposits/resources/deposit-agreements/

    and

    Makes me wonder about what Wells Fargo assured me. The personal banker assured me that once the funds settled in my account (after 2-3 days) the funds were good/solid, but now I'm thinking that's not necessarily the case and I need to wait longer next time.

  • pointfivezeropointfivezero Posts: 1,851 ✭✭✭✭✭
    edited December 10, 2024 7:16AM

    Truth be told, I had a similar set of circumstances as the OP in 2020 with the team at @TECC1990 , albeit with a slight variation. My issue was the 10 business day hold with a Bank of America Cashier's Check. I understood the need to hold a personal check but my impression was a CC or MO should be subject to a different set of guidelines, most due to my naivety.

    I won't publish our series of communications here without permission from Zack but I believe it was far more professional and constructive.

    Tim

    Edited to correct address to TECC1990

  • BStrauss3BStrauss3 Posts: 3,482 ✭✭✭✭✭

    @ProofCollection said:
    Makes me wonder about what Wells Fargo assured me. The personal banker assured me that once the funds settled in my account (after 2-3 days) the funds were good/solid, but now I'm thinking that's not necessarily the case and I need to wait longer next time.

    How do you know a Wells Fargo banker is lying? Their lips are moving. Or more charitably, the large print giveth and the small print taketh away. Reading the Wells account agreement from https://www.wellsfargo.com/assets/pdf/small-business/agreement.pdf

    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
  • jedmjedm Posts: 3,046 ✭✭✭✭✭
    edited December 10, 2024 7:49AM

    @Ronsanderson said:
    I purchased from Executive Coin just within the last few weeks, as well as several years ago. The coins are great, good for the grade or much better, and I am happy. If the Original Poster had just used some other form of payment all his angst could have been avoided. I call this a self-inflicted wound.

    Seriously. As soon as the truth came out and the op admitted to using a check to purchase the coin, I thought "there's the problem right there." If paid by paypal, or credit card or any other type of electronic transfer this whole catastrophe could have been averted.
    Edited to add: Next time I should finish reading all of the following posts before quoting and commenting on something that was later completely hashed out. ;)

  • SwampboySwampboy Posts: 13,020 ✭✭✭✭✭

    It's good to consider forum rules before even thinking about calling a member a cheat, or for that matter, a loser.

    "Inspiration exists, but it has to find you working" Pablo Picasso

  • coinbufcoinbuf Posts: 11,466 ✭✭✭✭✭

    Quite the kerfuffle over nothing.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • lermishlermish Posts: 3,130 ✭✭✭✭✭

    @BStrauss3 said:

    @ProofCollection said:
    Makes me wonder about what Wells Fargo assured me. The personal banker assured me that once the funds settled in my account (after 2-3 days) the funds were good/solid, but now I'm thinking that's not necessarily the case and I need to wait longer next time.

    How do you know a Wells Fargo banker is lying? Their lips are moving. Or more charitably, the large print giveth and the small print taketh away. Reading the Wells account agreement from https://www.wellsfargo.com/assets/pdf/small-business/agreement.pdf

    Even more charitably, or the exact opposite depending on one's opinion, it is almost assuredly an honest mistake. Retail bankers are predominantly early-mid 20s kids with no training in the operations of the bank other than basic day to day transactions and safety procedures. They don't know that funds being available in an account is not the same as the funds being settled from the other bank (although of course they should).

    Running a retail bank location is a loss making endeavor these days and the banks have (and will continue to) cut as much fat as they can get away with. If one likes dealing with a knowledgeable banker in person, things will only get worse over time; it's never going back to what it was even a few years ago.

  • jmlanzafjmlanzaf Posts: 34,839 ✭✭✭✭✭

    @pointfivezero said:
    Truth be told, I had a similar set of circumstances as the OP in 2020 with the team at @TECC1990 , albeit with a slight variation. My issue was the 10 business day hold with a Bank of America Cashier's Check. I understood the need to hold a personal check but my impression was a CC or MO should be subject to a different set of guidelines, most due to my naivety.

    I won't publish our series of communications here without permission from Zack but I believe it was far more professional and constructive.

    Tim

    Edited to correct address to TECC1990

    You have the same basic problem as with personal checks. There are fake cashier's checks and money orders. In fact, we've seen a couple of them locally that attempted to be used to purchase bullion.

  • pointfivezeropointfivezero Posts: 1,851 ✭✭✭✭✭

    @jmlanzaf said:

    @pointfivezero said:
    Truth be told, I had a similar set of circumstances as the OP in 2020 with the team at @TECC1990 , albeit with a slight variation. My issue was the 10 business day hold with a Bank of America Cashier's Check. I understood the need to hold a personal check but my impression was a CC or MO should be subject to a different set of guidelines, most due to my naivety.

    I won't publish our series of communications here without permission from Zack but I believe it was far more professional and constructive.

    Tim

    Edited to correct address to TECC1990

    You have the same basic problem as with personal checks. There are fake cashier's checks and money orders. In fact, we've seen a couple of them locally that attempted to be used to purchase bullion.

    No doubt but as with the OP, I reached out to the bank to confirm proof the funds were received and credited.

    Contrary to the OP, our series of communications resulted in a common understanding and the placing of another sizable order with TECC.

    Tim

  • nagsnags Posts: 811 ✭✭✭✭

    I'm in the legal field and we are required to hold settlement checks for 10 days. A local firm recently got hit with a scam involving a fictitious real estate transaction and had to eat low 7 figures after an associate had funds wired to the "seller" too soon. Insurance did not cover the loss.

  • willywilly Posts: 336 ✭✭✭✭✭

    One transaction with TECC and it went smooth for a nice CAC Saint. Paid with PayPal if I remember correctly.

  • slider23slider23 Posts: 658 ✭✭✭✭

    @TECC1990 said:
    Hi all.

    Zack at Executive Coin here. I got alerted about this thread through some other dealers as they all know what's going on as well. I wanted to give a little more clarity here as the customer isn't giving the full story.

    We received his order on our website on November 21st. We received his check on December 2nd and deposited that day. Our company has a policy that once deposited, we hold check by mail orders for 10 business days. This would make the shipment date December 16th. We sent an email confirmation of this info to Jeff on December 3rd. Our email was the following...

    Jeff,
    Your payment for order #W******* has been received and is being processed. Your order is scheduled to ship 12/16/2024. We will email you the tracking on that date. Thank you for your business!

    https://executivecoin.com/topic/payment-methods

    Sincerely,
    TECC

    Jeff's response to this email was, and I'm going to bleep something out as I don't know if it is allowed on this forum...

    Why are you withholding my order when my check has cleared already?  What the ****?  I've made my last purchase from Exec.

    After this, he went to BBB to file a complaint. The BBB has sided with us on this issue, but his response was as follows...

    "It doesn't matter what the "company policy" is. It is illegal to place a hold on goods that have been paid for. As someone who worked for the Federal Reserve Bank for many years, I can assure you that once a check has cleared it CANNOT be taken back. I request that Executive Coin ship my purchase IMMEDIATELY or I will pursue legal action."

    He is correct. We called 4 times over the span of 2 days to try to rectify and explain why our company policy is what it is. Each time when I was trying to explain how there is fraud in our industry, he became very angry, raised his voice, cursed, and eventually hung up on me.

    I sent him some emails to hopefully calm him down giving him examples of many other large companies that have holding periods on check by mail orders as well as links to the FTC talking about how checks can bounce even after clearing as well as companies having the right to hold funds for a period of time if a company states when the items will ship (which we clearly did). I asked him if he received these emails, but his response on the phone was that his inbox is empty and he did not receive them.

    I hope this information clears things up for everyone following along. We here at Executive Coin appreciate all of your business over the past 30+ years.

    Have a great holiday season,
    Zack

    Hi Zack,

    I have purchased coins from you in the past and I have no issues. It appears that you could have done a better job in handling the customer service as it got out of control with negative reviews, phone calls and a online thread. You might want in the future to make an exception for a repeat customer that was upset with your 10 day check holding policy. The end result on the way it was handled you lost a customer. I buy coins from Heritage on a regular basis and on my last purchase they notified me that the coin would ship before receiving the payment check.

  • Hi @slider23

    First off, we appreciate the business.

    When this customer says he's a repeat, he purchased one coin from us last July using either credit card or PayPal (I don't have this info saved on which one it was). It's not like we've done a ton of business with him over the years or even recently.

    I tried to rectify the situation by emailing him (which he says he did not receive) and also call him, but he continued to hang up on me when I tried explaining the situation.

    Zack

  • johnny9434johnny9434 Posts: 28,512 ✭✭✭✭✭

    our host should have a room just for whining, just saying :*

  • SweetpieSweetpie Posts: 489 ✭✭✭✭

    I missed the part on the OP being a repeat customer.

  • raycycaraycyca Posts: 1,651 ✭✭✭

    I like MANY others have used Executive Coin and have been VERY happy, as have other of my fellow collectors. In fact, I bought coins from other "competitors" after I found out they got a coin I wanted. They were also very nice and were willing to help. Executive has some great coins, nicely graded and their photos leave nothing to the imagination. If the OP wanted "protection" why didn't they use a credit card? That way the coin would have shipped ASAP, the purchase would be covered by the credit card company, there would be a purchase trail and it would help raise their credit score. An all around win. INSTEAD, all we have is a "sour grapes" situation which we can all now see was hot air. TECC wins, OP outed, not to be counted for anything positive in the future. Just my fifty cents.

    You only live life once, enjoy it like it's your last day. It just MIGHT be!

    image
This discussion has been closed.