Reeded Edge.com

[MikeKing]

Has anyone here ever had experience with buying coins from the Reeded Edge.com?

 

 

[dragon]

I have bought a couple pieces from them without issue in the past, however, I think they have gotten a bad reputation across the street due to overdescribing their coins as well as stopping their 'no reserve' Ebay auctions and cancelling all bids just prior to ending because they didn't get enough for the coin from what I've heard.

 

dragon

[TomB]

I have had a very poor experience with them and would suggest you stay away if you don't want to potentially be treated badly.

 

I bought an MS64 half dime from this company off of ebay and I paid about $1300 for it. The total was as high as it was because they described the coin as "MONSTER TONING!" and even had something to that effect either blazened across their title or somewhere in the text. They wrote how the coin had tremendous luster and then showed two images of the coin that made it appear as though it were beaming and that it had great color. When I received the coin it looked very little like the images and I immediately called them up on the phone to ask about returning it. Unfortunately for me, their rules for an ebay return are that they will only buy it at 90% of the sell price. This was listed in the auction, on a seperate page you were taken to by clicking a link, and I had not noticed it when I bid. In this respect, it is my fault. However, they wrote that they would refund the money completely if they misrepresented the coin. Well, this coin was misrepresented big time. I also carefully and politely explained why the coin was misrepresented and that I would never have bid if they would have put a realistic image up.

 

They offered only 90% of the sell price and I accepted it as the coin was not nice, in my opinion. It went back out to them and I received my check promptly and then they changed the images in their next auction to show the coin as it truly appeared. So, do you think that they might have agreed that they misrepresented the piece the first time and just wanted to keep my $130? I think so.

 

I was unhappy. You will not see me write this often so you better read it twice; as far as I'm concerned, this company treated me like they were a bunch of jerks.

[EVillageProwler]

Hi Tom,

 

I am sorry that you had a negative experience with Rob Lehman and Co. As is my wont, I will not hesitate to defend anyone wrongfully criticized. But, I will try not to directly criticize anyone publicly if I can avoid it.

 

Moving on, I will say that I am negatively disposed to such attempts at deception like using poorly representative pictures. I know of one newbie coin dealer who is the primary imager for a major retailer, and he's made significant progress in his imaging that the principles of the firm have had to "dumb down" a few images on occasion so the images can be more representative. Just in the past two weeks, this guy was asked to make sure that a scratch on a cheek, the scuffs on a cheek and a toning spot in the field were visible in the images of three separate coins.

 

On the flip side, I do know that imaging is a difficult skill, and that on some coins the image is not easily replicated precisely. And, the imager of the coin may not have had a professional numismatist finalize all his images, and that one got loaded that was a huge OOPS! I do know that some people make mistakes, but then are unwilling simply to admit them.

 

EVP

 

[TomB]

I hear you, EVP.

 

This is the first time I have ever publicly written about my experience with this company and I believe it is the proper thing to do since someone is asking the question and this board is intended for the edification of those in the hobby/industry. The board would not be nearly as valuable a tool if I, and others, would only post glowing comments and leave out poor experiences. In this respect I am simply trying to illuminate the practice of this company.

 

As for the images, certainly I understand and appreciate the technical difficulties associated with capturing the true look of a coin. However, I carefully and politely explained to them on the phone what it was about the images that I found so blatantly misrepresented. They then immediately re-auctioned the coin with images that were not turbo charged. Since the images were the same images but were the edition of them that they had in their possession before they enhanced them, I can only believe that they heartily agreed with me that the coin was misrepresented. If that is the case, then they should not have been so shortsighted and cheap as to keep the 10% sell price from the original auction.

 

That is the issue I have with this company and that I think you have completely missed. It is not that they misrepresented the coin originally, it is that they apparently knew they misrepresented the coin yet decided to keep the 10% restocking fee.

 

I would never do business like that, would never want to do business with someone like that and would never recommend that someone else expose themselves financially in a deal with them.

[goose3]

well said TomB

 

You got the short end of the stick on that for sure. I will also add that I have Never (here or across the street) seen you post anything "negative" at all and if you are saying this then it cannot be anything but %110 true.

[EVillageProwler]

That is the issue I have with this company and that I think you have completely missed. It is not that they misrepresented the coin originally, it is that they apparently knew they misrepresented the coin yet decided to keep the 10% restocking fee.

 

Nope, did not miss that point. I was just being wimpy in the way I went about expressing my agreement. (I think you understand why I need to be careful about what I say and why I tend to speak with a blatant periphrastic style.)

 

EVP

 

[dragon]

TomB,

 

Did you at least leave them a negative feedback I hope,,,,,geeez, that really stinks!

 

DRAGON

[jom]

I bought my 27-P Quarter Eagle from him. I had noticed the "restocking" fee and asked him to recend the fee if he wanted to sell me the coin. He did and I bought it. I was happy with it so the fee was moot.

 

BUT...keep in mind I had SEEN the coin at the just completed Long Beach show a week before so I was pretty confident about the peice but, to be fair, he did NOT know I had seen the peice.

 

"Greattoning" has a restocking fee too but if I want a coin he has I'll ask for him to recend it. He has in the past so it wasn't a problem but I WILL NOT buy a coin SIGHT-UNSEEN with any fee except the sellers original mailing costs. PERIOD.

 

jom

[jtryka]

You know, even though I am not a dealer, I think my eBay return policy may be too generous! I will generally refund every cent including postage if a buyer is not satisfied within 14 days of shipping the coin. Of course the return policy is void if the coin is cracked from a slab, or if a raw coin is damaged. To balance it out, I really don't publicize this on my listings as to prevent folks from just bidding and returning to waste my time, though in my last auction someone asked me the exact policy and I told them.

[gmarguli]

I'm not a dealer either and I make it a point NOT to list any return options in my eBay listings. While I will take a return if the person thinks I misdescribed the coin or they have a legitmate reason, I don't want a blanket return policy that will allow people to abuse it. eBay isn't an approval service.

[dragon]

I agree with jom, and I also think restocking fees or any other type of return fees are complete bogus. Too bad you can't get all of your money back and return 90% of the coin, LOLOL.

 

dragon

 

 

[MikeKing]

I appreciate everyone's response, and Tom, I'm sorry to hear of your bad experience. In the end, it would have cost this company less if he had given you a full refund, because good faith promotes partnership in business, bad faith, the opposite. By changing the photo they admit to misrepresenting the coin and should not have witheld part of what you paid for the coin, which is totally absurd, in and of itself.

 

There's a clear difference between someone who honestly phones a business to discuss their concerns asking for a refund, and someone who keeps purchasing coins from a company over and over again, always returning them and costing that business money for no good reason. In that latter case, it makes sense to have a 'restocking' fee or something like that, as a means of protection.

Here, it was used in a stingy, unfair, and really unjustifiable fashion. It's like going to an expensive restaurant and getting an exceptionally small portion that wouldn't be enough to feed a cat. Do they really think this is good business?

 

You see a coin you like, you trust the company advertising it to provide you with both the coin, and service. They proved themselves unworthy of your trust. There was no good will on their part in how they settled this with you.

 

I also appreciate your telling me about your experience. I don't find it malicious, just you honestly telling me about your experience with them. I think it's obvious you know how to judge and not judge photographs of coins. I trust your opinion in these matters.

 

It's kind of like PCGS removing the Norweb designation but not compensating the owner for the resulting price differential; which appears to me, in clear violation of their guaranty. Bad business.

 

 

 

 

 

 

[EZ_E]

re: I also appreciate your telling me about your experience. I don't find it malicious, just you honestly telling me about your experience with them.

 

I whole-heartedly concur. I did not find Tom's post to be vindicative or mean-spirited. It was, however, very informative both in general and specifically. Thanks for sharing.

[jom]

Whether or not the seller lists it on his Ebay page doesn't really matter too much to me. BUT I will always ask and if there is no return policy I do NOT bid.

 

I try my best not to make problems for people so I usual ask as many questions as I can so to keep the PO fees as small as possible....

 

jom

[toneddollars]

Tom is as staight up a person as you would want to meet. I have met Tom on a few occasions and he strikes me as respectful person. i have never seen him take shots on these boards or others. A question was asked and answered. Tom related his experience with the reeded edge. All others are free to post about their experiences with this company, so do so and do not take Tom apart for his.

[IrishMike]

I purchased one coin from them on Ebay. I kept the coin but the description of the coin was overblown. Since then I have not purchased anything from them. For what I spend on that series I prefer dealing with dealers that are more forthright in their description and who allow a return privilege without cost other than return postage.

[jom]

Why did this post come back up to the top?

 

Anywho, since it's here...I also bought a 12-S Eagle from them that I was satisfied with....it must have been sometime after my posts above....well then...there ya go.

 

jom

[Hoot]

Why did this post come back up to the top?

 

I wondered the same... curious. Archie messin' with our minds (what's left).

 

Hoot

[gmarguli]

Why did this post come back up to the top?

 

Because you posted to it you dingus?

 

There is a thread across the street about Fairlaneman getting screwed by Reeded Edge. TomB linked this thread in that thread.

[Hoot]

Why did this post come back up to the top?

 

Because you posted to it you dingus?

 

There is a thread across the street about Fairlaneman getting screwed by Reeded Edge. TomB linked this thread in that thread.

 

Actually, this thread came back to the top before dingus , I mean jom, posted to it. Really! Perhaps the link to it somehow made this happen.

 

Hoot

[TomB]

I had linked this thread to the one at PCGS more than a week ago, and it only rose to the top today. This is a guess, but I wonder if someone posted to this thread and then went back into their post and deleted it? Might that completely erase their post yet leave the thread at the top?

[Hoot]

This has the smell of the Evil One™ all over it. Now, which one is that? Arch, TomB, Greg, GDJMSP, EVP, or MelMcbee?

 

Did I miss someone?

 

[cpm9ball]

This has the smell of the Evil One™ all over it. Now, which one is that? Arch, TomB, Greg, GDJMSP, EVP, or MelMcbee?

 

Did I miss someone?

 

 

"KILROY WAS HERE!"

 

Chris

[Here]

This has the smell of the Evil One™ all over it. Now, which one is that? Arch, TomB, Greg, GDJMSP, EVP, or MelMcbee?

 

Did I miss someone?

 

 

Yes you missed someone. According to the thread across the street, Reeded Edge should be added to Evil One. I've never had a problem with them.

 

 

Jerry

[Fairlaneman]

This is funny and no I did not put this to the top here. Maybe when Coinguy1 put my original thread back to the top across the street it automatically triggered this to the top here.

 

I will say that I am glad this guy is getting all of the great publicity that he deserves. If he takes alook at this post maybe he will threaten Legal Action again via Email like he did a few weeks ago.

 

Ken

[jom]

Looks like I'll have to go check that thread out across the street....if it isn't on the 5 page by now.

 

Edit: Well, the first thing I noticed was that it now says Reeded Edge is NOT a registered user on Ebay. That's odd since I have them listed under "favorite sellers" (believe it or not). TDN mentioned they sold the business so maybe this had something to do with Ken's problem.

 

Anyway, like I said before I never had a problem with these guys and Rob seemed like a nice guy.

 

Ken, don't waste MORE of your money on sending this coin it. It's obviously hairlined and cleaned. Just put it up on eBay, describe the coin fairly and sell the thing. You might get some of your money back.

 

jom