New forum member (dealer) videotapes box opening

RYK · January 5, 2006 7:36AM

This is from the University Coins website TOS:

All coins shipped to University Coins, whether for return or resale purposes, will be videotaped via our security system to insure that the contents of the package matches the included paperwork. Should a discrepancy arise, the customer will be notified immediately via phone/email, and a copy of the videotape will be made available.

Link to website

Has anyone ever heard of this before? On some level it makes sense, but on another it scares me.

They have an interesting selection of certified rare date gold, BTW.

tradedollarnut · January 5, 2006 7:41AM

In the past, Legend has told me stories of reputable dealers being accused of stealing coins by [presumed] unscrupulous customers. Sounds like a very prudent step to take.

Blade · January 5, 2006 7:46AM

I'll bet they got burned once and unfortunately need to resort to this. One of our business competitors takes a digital snapshot of every box open before shipping so the customer cannot accuse them of missing part of the order.

RYK · January 5, 2006 7:52AM

Call me paranoid, but I can envision a scam in which they tamper with the box, reseal it, and open the box with the videotape recording..."Sorry, these are circulated common date wheat cents in here, not MS-65 Saints like you said you were sending. Here, look at our videotape..."

fc · January 5, 2006 7:52AM

if i was dealing with customer's coins that cost 1000s of dollars,
darn right i would take pictures, video, and make a hand drawing
of the contents.

itsnotjustme · January 5, 2006 7:53AM

I have always wondered about this. I can send a package Registered Mail, and have prrof it was delivered. But who can prove the content was in it?

MikeInFL · January 5, 2006 7:53AM

<< Call me paranoid, but I can envision a scam in which they tamper with the box, reseal it, and open the box with the videotape recording..."Sorry, these are circulated common date wheat cents in here, not MS-65 Saints like you said you were sending. Here, look at our videotape..." >>

That was my first thought also, but I am the cynical type.

Take care...Mike

fc · January 5, 2006 7:54AM

RYK,

but word would get around that they screwed a customer who
would then come on here and cry foul.

how long would they stay in business then?

XpipedreamR · January 5, 2006 7:55AM

<< That was my first thought also, but I am the cynical type.

Take care...Mike >>

Me too

Russ · January 5, 2006 7:56AM

They have an interesting payment policy. They accept personal checks, but will not accept cashier's checks.

Russ, NCNE

tradedollarnut · January 5, 2006 7:57AM

Call me paranoid, but I can envision a scam in which they tamper with the box, reseal it, and open the box with the videotape recording..."Sorry, these are circulated common date wheat cents in here, not MS-65 Saints like you said you were sending. Here, look at our videotape

So someone's words of 'know who you are dealing with' might ring true?

RYK · January 5, 2006 7:57AM

I can send a package Registered Mail, and have prrof it was delivered. But who can prove the content was in it?

I was not going to post it here, but Pinnacle said they did not get the 8 Stellas I sent to them, just some grubby, circulated gold coins.

RYK · January 5, 2006 7:59AM

So someone's words of 'know who you are dealing with' might ring true?

No, then I would be a "lapdog". It's better to work with complete strangers and get stiffed now and then. It builds character, you know.

EVillageProwler · January 5, 2006 9:31AM

RYK - how much character did you develop from dealing with Legend?

tradedollarnut · January 5, 2006 9:33AM

Speaking of characters....

EVillageProwler · January 5, 2006 9:38AM

Especially that sasquatch in the satellite office in the PacNW...

RYK · January 5, 2006 9:43AM

RYK - how much character did you develop from dealing with Legend?

Regrettably, it has not been a character-building experience.

RalphE · January 5, 2006 11:38AM

Russ,
There are tons of fake cashiers checks apparently being circulated around eBay these days. True, most of them are coming from Europe, but they are risky. I heard a story in my hometown of someone who sold a motorcyle on eBay motors and they recieved cashiers checks that they found out weeks later were fake. He is out $9000 and a motorcycle. I have considered mentioning in my eBay ads that I don't accept them, even though I have marked the box where money orders and cashiers checks are listed together. Apparently there is also a problem with conterfeit Postal money orders. I have the postal clerks look at mine before I ship. It is getting to be a sad case of seller beware out there these days.

Ralph

Russ · January 5, 2006 11:51AM

<< Russ,
There are tons of fake cashiers checks apparently being circulated around eBay these days. >>

I know. The solution, though, is to call the issuing bank and verify the check.

Russ, NCNE

BAJJERFAN · January 5, 2006 12:02PM

<< One of our business competitors takes a digital snapshot of every box open before shipping so the customer cannot accuse them of missing part of the order. >>

That still doesn't PROVE that the stuff was still in the box at the time it was taped shut, only that they took a picture of an open box with some stuff in it.

mrearlygold · January 5, 2006 2:00PM

Who are they? The about us section merely refers to them as The staff , Our hard working employees .

BAJJERFAN · January 5, 2006 2:12PM

"they" would be University Coins

see fer instance: the OP

<< I'll bet they got burned once and unfortunately need to resort to this. >>

mrearlygold · January 5, 2006 2:14PM

<< "they" would be University Coins

see fer instance: the OP

What's OP?

Coppernicus · January 5, 2006 3:56PM

This would be an interesting question for the Q&A forum. How does PCGS protect itself from someone claiming they had say, 10 Saints in the package when only say, 8 are actually in there?

Mike

BlindedByEgo · January 5, 2006 4:11PM

Sorry, they lost me as a potential customer at "ICG". But heck, that's just me.

JadeRareCoin · January 5, 2006 4:26PM

I know from personal experience that NGC has a video camera directly above the table where they open incoming packages. I would bet money that PCGS and ANACS does the same.

p8nt · January 5, 2006 4:50PM

<< I know from personal experience that NGC has a video camera directly above the table where they open incoming packages. I would bet money that PCGS and ANACS does the same. >>

Is it for "insurance" and protection for/from the submitter?

The other thing to think about is that it could be for personal (company use). Say for instance one of the people in the shipping department decides to pocket a coin. Or someone entering them into the system drops a coin and it gets a rim ding. The submitter gets his coin back with the ding and claims it wasnt there earlier. Then the slabbing company can go back and check.

BAJJERFAN · January 5, 2006 9:31PM

<< "they" would be University Coins

see fer instance: the OP

What's OP?
xxxx

OP means original post or poster!! or if you bum smokes you smoke OP's or other peoples; I believe that Bob Seeger had a record album titled smokin OP's

Longacre · January 5, 2006 10:48PM

It seems a little excessive to me. I am sure it is probably more efficient than having a witness present who can later sign an affidavit that the coins were or were not in the package when opened. Personally, I would never send anything of value to anyone who I didn't have a previous relationship with and built trust.

BAJJERFAN · January 5, 2006 11:10PM

<< Personally, I would never send anything of value to anyone who I didn't have a previous relationship with and built trust. >>

Not everyone who works at PCGS necessarily fits that description.

Mark · January 5, 2006 11:51PM

Re "who are these guys:" I live in Gainesville, where "the staff and hard working employees" are located, and I have never heard of this company. There are two coin dealers with shops in town. One I think is trustworthy, but it has few slabbed coins. The other I think is untrustworthy and it has many slabbed coins. I shop at neither. To the best of my knowledge, University Coins does not have a brick and mortar shop. Personally, I thought it was a bit disingenuous that they never listed a name of a proprietor on the web site. Personally, before I sent them my check for $81,000 to buy the (non-pictured) AU53 NGC 1793 Chain cent, I'd like to know to whom I am sending my money...

Mark

RYK · January 6, 2006 12:03AM

Personally, I thought it was a bit disingenuous that they never listed a name of a proprietor on the web site.

I agree 100%. They have a lot of high end coins. They should identify who they are, give references, etc.

Trime · January 6, 2006 12:07AM

There is nothing wrong and something good in video taping received goods.
It provides oversight for the managers of the business for losses that may occur between the mailroom and coin evaluation.
Is it foolproof. No, for the reasons stated above.
I too have never heard of this company, would never send valuable merchandice or moneyto an unknown recipient, do not like their inventory, do not understand why so many coins are priced as "call".

Longacre · January 6, 2006 12:10AM

<< Personally, I thought it was a bit disingenuous that they never listed a name of a proprietor on the web site.

I agree 100%. They have a lot of high end coins. They should identify who they are, give references, etc. >>

I agree with both comments. One of the first things that I do when I find a new website is to check the "about us" section. I expect to see the owner's name, possibly picture, etc., along with some background. I think it is just a good form of doing business. I don't like when the owner is not identified because it raises some questions about the legitimacy of the company.

New forum member (dealer) videotapes box opening

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