Arrgh. That's sickening, roadrunner. Lest it should happen to one of us - beware the fact that any of us might pass away unexpectedly, and possibly leave our loved ones with a bunch of stuff they may know or care little of - just ripe for a similar plucking. Keep a detailed record for them!
The worst I've seen was during the bullion bubble around 1980. I went to a coin shop to unload every generic silver coin I had. People were lined up out of the door to buy Krands, Maple Leafs, etc. when gold was around $800 an ounce.
What the dealer and his staff would do is say, "we don't have any right now, but we should get them in a day or two. Tell you what. Give me your money & I'll give you an IOU so you can lock in today's price for them." The guy took the money and went BK.
He did four years in the big house and is the only coin dealer I know of who actually did some time.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
Sure, everytime I see someone pay over face value for a modern I cringe. Of course like any good PT Barnum/Ponzi scheme, as long as there is another sucker out there willing to keep the market made for such junk no gets hurt for the present anyway.
Knowledgeable collector rips a dealer...this translates roughly to, "the collector bothers researching, learning, and gaining knowledge, then buys a coin from a dealer at a profit to the dealer on the chance that the time spent learning will pay off." I don't see this as "ripping." I see it as learning a subject well enough to do business with savvy.
I don't know if this qualifies as a "rip", but at a coin show, I paid 75c for a mint state 1996-D Jeff with 6FS that I found looking through an album of 2x2 carboard holders. That coin looked beautiful. It now resides in an NGC MS67 6FS slab as a POP-2. The other one sold for $100 on eBay recently.
I was browsing a coin shop in my area and a woman came in with a bag of coins and silver bars, from what I could see there were several morgans, peace dollars and a bunch of silver 1 ounce bars along with other coins.... He put them all on a scale and told her $153.00.... she took it and walked out smiling..... I should have said smoething but I bit my tongue... and of course I don't deal with him.
There is nothing more powerful than the power of goodbye
Comments
What the dealer and his staff would do is say, "we don't have any right now, but we should get them in a day or two. Tell you what. Give me your money & I'll give you an IOU so you can lock in today's price for them." The guy took the money and went BK.
He did four years in the big house and is the only coin dealer I know of who actually did some time.
"Seu cabra da peste,
"Sou Mangueira......."
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<< <i>That coin looked beautiful. It now resides in an NGC MS67 6FS slab as a POP-2. The other one sold for $100 on eBay recently >>
I'd call that a solid rip!
<< <i>How about the dealer that counterfeited certificates to use at Long Beach? >>
Now this one I would like to hear about. What service and how they were recognized as fakes.