People new to our hobby and others need to know!

Greetings Collectors,

It has been over a month since I have posted anything and while I am sure there are some who wished I had waited longer to open my mouth, for whatever it's worth, I'm back. As of late I have been doing my best to not take part in this economic downturn. In fact I have been trying to support as many industries as possible.

While my work continues to be steady I have picked up an additional hobby to help suck every available dollar I come accross. I have lived in Fl. most of my life but have never owned a boat up until now. I thought this would, in some freakish way, keep me away from the auctions and thus save money in the long run. The "Seadoo" jet boat has kept me and the boys on the water a good bit but the jury is still out as to whether I have saved any money. Boat does indeed stand for "break out another thousand".

As of late I have been reading and hearing of many being taken advantage of by the hoard of indiviguals and companys buying scrap gold/silver and coins. SCMnumismatics told of a dealer hinting of an inside connection at NGC, thus being the reason his branch mint gold graded so high. I think strongly this was but a feble attempt to snag some quality gold at "bargain basement" prices. What if this collector had passed away and the ones presenting this gold were his heirs. There is a good chance they would have beleived this BS from this "so called" reputable dealer.

I have heard many stories of late from people attempting to sell their scrap gold to these that advertise on the TV, radio and the net. I hear, after the fact what they got in return and it's appauling. Most of these folks have come on hard times and then they try to get a little extra cash only to be "taken to the cleaners". I am sure that most of you have heard that "so and so" is going to be at three or four locations, usually hotel/motels and will be buying from 9-5 all day Sat. People come, get maybe half of what they should have got and there is no telling how many old "branch mint" gold and CC morgans ect. that have been stolen from the unsuspecting masses.

The point of this post is to help educate ones that don't know and tell the ones that do, to spread the word about these "ripoffs". A large outfit that places ads on TV, (The Gold Kit) is one of the outfits in the forefront. Please take your items to several places and call beforehand to get the price they are paying for grams/pennyweights if they will tell you. Most will not over the phone as they will melt some of your items but the coins will be resold at 10-20 times or better from what you got and the majority of the jewelry will be resold just as you brought it to them or with very little repair for again, many times over what you were paid.

There is nothing I hate more than liars and thieves. Ones that are doing this injustice need to be exposed. If you see a dealer or a company charging unfair prices, let the rest of us know. If you see the same in the other direction, as in trying to rip someone off by offering next to nothing for their numismatic or gold and silver items, let us and all your friends and family know. The only way to curb the thieves is to expose them by letting others know. I have bought "scrap" for years and have heard horible stories as to what one human being has done to another. Frankly it disgusts me. Lets all do what we can to help stem this type of activity.

Ending on a pure "numismatic note", I picked up a nice $20 double eagle, a 1905-P in an "old Anacs" holder from Heritage that's graded AU-58. I already own this date in "NGC 58" but I swear this coin is a 62 or 63. I know this series pretty good and even researched close to a hundred high detail photos of this date, with all the coins I looked at were 58-63. I did not see many 63's but the ones I did see, this coin of mine looked every bit as good. It was by far superior to all the 62's and 61's I studied. I paid "58 money" for it but as soon as it arrives, I will be "cracking it out" from its holder and promptly sending it off for another opinion. I have been wanting to upgrade my 1902 and 1905 $20 Liberties to mint state but the costs have been out of this world. This may be my chance to go up on the '05. I also have been needing "gems" on two dates in my "Walker short set", the 1941-S and the 1942-S. I got a steal of a deal on a 1942-S NGC-65 from Teletrade. This coin is "brite white" with a great strike. I swear all the "Walker collectors" were "asleep at the wheel" or just plain "out of pocket" the night this Walker was auctioned. There were several other dates that went way cheaper than the norm. If you study these sites, YOU WILL find a great deal from time to time.

Anyway I hope all of you are finding the coins you want and need and that your financial situation continues to improve. The jobs report came in today with a dip in the unemployment rate and stocks continue to rebound from their March lows. Could it be that the light I see at the end of the tunnel is something other than a mugger with a baseball bat and a flashlight? Happy Collecting to all of you! WKF