The latest SGS scam?

basestealer · May 30, 2007 9:03PM

2007 W silver eagles, "without W mintmark"...
lol

lonelyp · May 30, 2007 9:07PM

GEE I GOT ONE OF THOSE

ModernCrapNut · May 30, 2007 9:44PM

I reported the scam to ebay...probably won't do much good. Sent a complaint to SGS and since they are located here in Ohio, complaint sent to Ohio Attorney General's office.

basestealer · May 30, 2007 9:57PM

They'll probably get around it by asserting that all silver eagles are minted at West Point, so technically all can be labeled "W", even though the mint only stamps the mintmark on proofs and the special burnished whateveryoucallit uncirculated retail variety. The mint is definately partly to blame here for opening this can of worms to begin with. SGS, the bottom feeders that they are, are merely capitalizing on this wonderful opportunity--and how else are they going to entice bottom feeder scammers to submit coins to them? Certainly nobody else would!

goldman86 · May 30, 2007 11:18PM

SGS is such a joke it is ridiculous!!!

19Lyds · May 31, 2007 12:44AM

The really sad part of this is that after the 2007-W Eagles are released by the mint, this would be viewed as an Error coin and then somebody is gonna get taken for a lot of money!

I am always amazed at the lengths that some scammers will go to separate folks from the money but to have SGS jump into the fray is pure stupidity on their part! Every TPG has a right to grade or misgrade coins but this is simply rediculous!

Shortgapbob · May 31, 2007 12:49AM

This is pretty low. I hope people don't get taken for a lot of money here.

19Lyds · May 31, 2007 12:53AM

I sent SGS an inflammatory email and I certainly hope all the see this mockery of grading do the same.

SGS

19Lyds · May 31, 2007 3:27AM

Here is the SGS reply to my email:

Hi,
You are dead wrong. Both 2007 American Silver Eagles UNC and Proof are released.

Someone is snickering you.

I would suggest yo check your source.

Have a nice day.

--------------------------------------------------------
From The Official RED BOOK A GUIDE BOOK OF UNITED STATES COINS 2007 R.S. YEOMAN EDITED BY KENNETH BRESSETT 61th EDITION

Page 329: “Since 2000, regular-strike silver eagles have been produced at West Point (without mintmarks), and Proofs have been produced at West Point (with mintmarks).

The U.S. Mint does not release bullion mintage data on a regular basis.”

Here is how the above Official Red Book shows Silver Eagles with mintage figures:

$1 2000 (P).........600,000 PF ( P is on coin)

$1 2000 (W).................... UNC 9,239,132

$1 2000P (P is on coin) Proof (600,000)

$1 2001 (W) UNC 9,000,711

$1 2001 W Proof (746, 398)

$1 2002 (W).... UNC 10,539,026

$1 2002 W Proof (647,342)

$1 2003 (W)….. UNC 8,495,008

$1 2003 W Proof (747,831)

$1 2004 (W) UNC 8,882,754

$1 2004 W Proof (801,602)

$1 2005 (W) Proof (701,606)

$1 2005 W UNC 8,891,025

$1 2006 W UNC (not released yet)

$1 2006 W Proof (not released yet)

$1 2006P, Reverse Proof (not released yet)

$1 2007 (W) UNC (not released yet)

$1 2007 W UNC/Proof (not released yet)

This is an outright scam!

Bochiman · May 31, 2007 3:32AM

If anyone, around here or knowledgeable in coins, considers SGS to be ANYTHING besides a scam, then I will be truly amazed!!!!
The reply to the email doesn't surprise me. They are a pure scam.

The seller is a scammer as well but it is most likely SGS starting the scam and the seller running with it.

mrearlygold · May 31, 2007 3:33AM

Zoins · May 31, 2007 3:35AM

But they are selling on eBay so they must be following eBay's coin Code of Conduct policies based on the ANA's Code of Ethics!

19Lyds · May 31, 2007 4:15AM

This SGS guy is a real piece of work:

Dear Lee,
You still have your facts wrong as for some reason you seem to just not want to admit you are wrong. I have met
people like you in court in the past as I have litigated in all U.S. Major courts except the US Supreme court and
you are dead wrong.

Have a nice life.

SGS

PS: The mint's list in hardly ever correct, that you can count on!

On a personal note, everytime one of these auctions comes up, I'm gonna report them until EBay addresses the issue! My biggest concern here is that when the 2007-W are issued and you cannot really tell the difference between the burnished and bullion versions, will these SGS slabs start showing up as error's? Someones gionna get burned!

OPA · May 31, 2007 5:11AM

Very clever & deceptive little buggers... It's like me saying...It's a Philadelphia, whatever, without the P Mint mark...

tightbudget · May 31, 2007 5:16AM

I see a nick on the sun...but still MS70

ModernCrapNut · May 31, 2007 12:07PM

The coin only brought $30.77 so most people are getting wise to the SGS scam. The sleaze bag seller has 100s of SGS graded coins for sale.

The latest SGS scam?

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