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Let's Nuke This Seller!

Started by Red Llama,

62 posts in this topic

Red Llama

Red Llama

Posted
Posted

It has been a few weeks so Mr. Premium has over 100 listings and will get suckers to pay him 30-50k easy. Let's flag these things and get them down.

It is a nice business he has. He buys coins for 30-50 bucks, dips, and resells for 500, 800, 1000, 2k,++. GREAT MARGINS!

 

http://myworld.ebay.com/premium-quality-coin/

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coinman_23885

coinman_23885

Posted
Posted
It has been a few weeks so Mr. Premium has over 100 listings and will get suckers to pay him 30-50k easy. Let's flag these things and get them down.

It is a nice business he has. He buys coins for 30-50 bucks, dips, and resells for 500, 800, 1000, 2k,++. GREAT MARGINS!

 

I haven't looked at his listings per se, but what exactly does his resale margin have to do with doing something wrong/unethical? Is it not possible that he was able to purchase a coin through a normal public auction, at a price below its full value? I see nothing wrong with reselling coins for a profit. In fact, I have done it myself. Using a certain auction company (which I will not list) whose pictures are less than desirable, I was able to pick up some exceptionally nice Franklin Half Dollar toners for approximately $50 each. I was able to consign those coins to forum member Shane, and I believe that I more than tripled my money. On a different occasion, I purchased one coin from eBay for $5.50 and fellow board member Shane was able to net me over $100 for it (a profit margin of almost 20x). Did I do something wrong? I certainly don't think so. Along with several other coins that I consigned, it allowed me to purchase some very nice, high end coins for my collection.

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wdrob

wdrob

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Posted

I would have to agree that a quick dip and extreme rinsing to remove some very ugly toning ( some toning adds to a coins appeal yet let's face it, some toning is downright hideous), is not unethical or bad practice especially if the seller says "I dipped this in a quick bath to remove this ugly toning".

 

I had a Morgan in an ICG slab that was very ugly toned. Although it was graded 65 or above I could not get a taker. I finally decided to crack that baby out and 2 seconds in a bath and a long, long, long rinse and that Morgan sold in seconds. I even made it clear what I had done and used picture of before (in the slab) and after, of the coin I was selling in the listing. Apparently the people lining up to place a bid did not care about a quick dip since the coin had it's original mint luster and was so much easier to base a grade on when you can actually see the coin.

 

I might have even made a small profit.

 

Hurry Boy's..... Get The Noose!

 

 

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BillJones

BillJones

Posted
Posted

There is nothing wrong or unethical about dipping a silver coin to improve its appearance or sending a piece to NCS to have it stored in an ethical manner. I once owned a 1925-D quarter eagle that had an ugly bluish-black copper stain on the recessed area of the neck of the Indian. The coin graded MS-64, but the copper stain made it impossible to sell the coin for a decent price. I sent the coin to NCS, who did their magic on it. NCS sent it on to NGC, who graded it, and I was able to sell the piece for a modest profit.

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Raisethis2

Raisethis2

Posted
Posted

There are any number of Sellers trolling E-Bay that sell junk coins demanding big money. I think as long as there's a return policy on a bought coin at least you have an out.

 

All this Grampa's Estate garbage should be taken with a grain of salt.

 

 

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ldhair

ldhair

Posted
Posted

Looks like the guy starts at .99 and lets it ride. I don't care for the grades he shows on the holders. Past that it looks like he is following Ebay rules.

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jpcienkus

jpcienkus

Posted
Posted

What have we all said about buying raw coins on eBay? BEWARE! I think it's up to the buyer to know what he/she is looking at before bidding.

 

At least this seller has a 30 day return policy.

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Red Llama

Red Llama

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Guys are you guys nuts? He claims that he 'inherited' this coins from his father but he just buys them and then claims they are seriously high grades (Which is NOT allowed on ebay) and people fall for it. They auctions seem low now but please look at his past sales-these coins will go for hundreds or thousands-EACH.

People on ebay see he has an 1884s and he writes it is a "MS 63 PL" for example and they think they are getting a 50k coin for 3-4k when in fact this seller bought that coin as an Xf45 for 60 bucks.

 

Lets face it-there are not very bright people out there and people like this guy take advantage of them.

 

As coin collectors I find it hard to believe that people are defending a coin artists making maybe half a million dollars a year and all he does it clean coins and then use a sharpie. (All of which is against ebay policy big time by the way).

 

Incredibly sad that we allow this to happen.

 

PS-for those saying he is not breaking ebay rules is 100% false. You are NOT allowed to put a grade on a raw coin. At all. At all. You are also technically not allowed to clean and coin and then list it as uncleaned.

 

 

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mumu

mumu

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Posted

There are kids being kidnapped in the Congo RIGHT NOW and everyday. Some things you just cant do anything about man.

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MarkFeld

MarkFeld

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Posted
All it takes is 2-3 people to flag a few of the auctions for putting a grade on raw coins.

That drives attention of ebay and they remove it.

 

I only glanceed at the lsiting titles, but did not see any numerical grades included. As far as I know, he can write whatever he wants on the coin holders, so I don't see any listing violations.

 

Your best chance would be if you can PROVE to Ebay that he is dipping coins (altering them), not disclosing it and lying about their alleged source (his grandfather). Even then, it will probably be an up hill battle.

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okbustchaser

okbustchaser

Posted
Posted
Guys are you guys nuts? He claims that he 'inherited' this coins from his father but he just buys them and then claims they are seriously high grades (Which is NOT allowed on ebay) and people fall for it. They auctions seem low now but please look at his past sales-these coins will go for hundreds or thousands-EACH.

People on ebay see he has an 1884s and he writes it is a "MS 63 PL" for example and they think they are getting a 50k coin for 3-4k when in fact this seller bought that coin as an Xf45 for 60 bucks.

 

Lets face it-there are not very bright people out there and people like this guy take advantage of them.

 

As coin collectors I find it hard to believe that people are defending a coin artists making maybe half a million dollars a year and all he does it clean coins and then use a sharpie. (All of which is against ebay policy big time by the way).

 

Incredibly sad that we allow this to happen.

 

PS-for those saying he is not breaking ebay rules is 100% false. You are NOT allowed to put a grade on a raw coin. At all. At all. You are also technically not allowed to clean and coin and then list it as uncleaned.

 

 

You're right! There are dishonest people out there who will look at one of his listings and think "Wow! This guy just inherited a 50k coin and he has no clue of its "real" worth. I bet if I hurry I can STEAL it from him for a couple of hundred dollars. How come there's never a "Buy Now" button when I really want one?"

 

 

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MarkFeld

MarkFeld

Posted
Posted
Guys are you guys nuts? He claims that he 'inherited' this coins from his father but he just buys them and then claims they are seriously high grades (Which is NOT allowed on ebay) and people fall for it. They auctions seem low now but please look at his past sales-these coins will go for hundreds or thousands-EACH.

People on ebay see he has an 1884s and he writes it is a "MS 63 PL" for example and they think they are getting a 50k coin for 3-4k when in fact this seller bought that coin as an Xf45 for 60 bucks.

 

Lets face it-there are not very bright people out there and people like this guy take advantage of them.

 

As coin collectors I find it hard to believe that people are defending a coin artists making maybe half a million dollars a year and all he does it clean coins and then use a sharpie. (All of which is against ebay policy big time by the way).

 

Incredibly sad that we allow this to happen.

 

PS-for those saying he is not breaking ebay rules is 100% false. You are NOT allowed to put a grade on a raw coin. At all. At all. You are also technically not allowed to clean and coin and then list it as uncleaned.

 

 

I despise dishonesty and believe that the seller is likely a liar. I haven't seen anyone here defend him, beyond stating that we are unaware of his having violated EBay rules.

 

Please show me the Ebay rule which forbids sellers from including grades on coin holders. If/once you will do so, I will gladly report him.

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Red Llama

Red Llama

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Those who want the ebay rule go to this link:

http://pages.ebay.com/help/policies/currstamps.html

 

Look under tab "Raw Coins"

The first bullet point reads:

"The numeric grade (such as MS-65, VF-25) isn't included in the title, description, or item specifics of the listing."

 

 

 

I am pissed off that this guy is screwing people who do not know better. They are getting conned with their a big smile on their faces. Sad.

I actually had a long post before and a few other members filed complaints and we got his listings removed once and I think he either laid low or was temporarily suspended as he did not list for a long time. I emailed ebay and literally took item numbers from his feedback when he bought it and then showed the same coin now for sale and listed at a super high grade.

 

As some of you may know I actually used my account to win a bunch of his auctions worth 22k and never paid. I toyed with him and finally got him to file buyer dispute and now that I had ebay's attention I sent them a detail on his con. Wish they would of just removed his account.

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MarkFeld

MarkFeld

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Posted
And anybody who says "Well he actually wrote the grade in the picture so it is ok".

 

 

NOOOO. Talk to ebay-they do not agree.

 

Sorry, even after looking at the link you provided and your comment above, I am not convinced it's against Ebay policy to write grades on coin holders. If I am mistaken, however, you should easily be able to report the seller to EBay for such a volation and have the listings removed. And I would be happy to assist you in the future.

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Six Mile Rick

Six Mile Rick

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Posted

Red Llama,

Did you buy a bad coin from this seller ???

 

You should have known better and it seems he did absolutely nothing wrong except in your deal!!! :)

 

Rick

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Mark T

Mark T

Posted
Posted
And anybody who says "Well he actually wrote the grade in the picture so it is ok".

 

 

NOOOO. Talk to ebay-they do not agree.

 

Sorry, even after looking at the link you provided and your comment above, I am not convinced it's against Ebay policy to write grades on coin holders. If I am mistaken, however, you should easily be able to report the seller to EBay for such a volation and have the listings removed. And I would be happy to assist you in the future.

 

Mark you are correct – you can write whatever you want on the coins holder. You cannot write a numerical grade in the description or heading.

 

 

Llama – the majority of people who post here would never purchase the kind of stuff this seller is offering. As I have said it the past this type of seller will go after the naïve or gullible collector who just don’t know any better and think they can get a MS 67 coin for an MS 63 price. While your intentions are good posting obvious stuff about a seller like this is not doing much good on this forum .

 

 

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e1cnr

e1cnr

Posted
Posted

Red Llama, people who buy coins from him that say MS63PL on 2x2 and expect to get a MS63PL are delusional. Any type of grading skill whatsoever would be able to tell that something is wrong with the surfaces to cause big color differences a t the point where the field surrounds the lettering. We are either looking at XF/AUs or some sort of cleaning - dipping by itself will not cause what is seen on most of those dollars.

 

You may have to do your own 'save the world' campaign and buy some of the stuff and leave glowing red negative feedback. TOOK TO DEALER< SAYS CLEANED OFFERED 10% PURCHASE PRICE.

 

I am on my own personal crusade. DO NOT BUY LLLAMAs. The meat tastes like , you can't make shoes out of them, no feathers - but do have a purpose if you live higher than 13,000 feet. It is all just a investment scam.

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Red Llama

Red Llama

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I get the points here-yes people who buy this are, well -stupid but that does not mean that you can't put minimal effort to stop it.

 

You are incorrect-ebay does not allow you to put grades on raw coins at all...at all. How I got this and others coins removed before.

 

Stupid or not-you must feel tad sorry that some ahole is ripping off people who do not know better and most likely are not exactly plush with cash to being with AND this guy is make 500%-1000% on his money.

 

And if taking 20 seconds to report a few items of his is too much then I guess we disagree BIG TIME.

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EVillageProwler

EVillageProwler

Posted
Posted
I can't believe this thread is still going.

Given how the OP started out here, and across the street, I read in one eye and out the other ;)

 

I don't know the OP's history, but I get the point. However, I'd like to encourage the readership not to shoot the message because of the messenger. Also, I'd like the readership to acknowledge that the OP's heart is in the right place, at least in this thread.

 

For the record, I also feel the seller made no technical violation of eBay rules (based on what I read in this thread, since I didn't actually do research on eBay).

 

EVP

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Conder101

Conder101

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Posted
Look under tab "Raw Coins"

The first bullet point reads:

"The numeric grade (such as MS-65, VF-25) isn't included in the title, description, or item specifics of the listing."

Well he does not include a numeric grade in the title, description, or item specifics so he does comply with the rules. This is why it is OK to post pictures of third tier slabs that show the grade even though by ebay rules they are considered raw. A numerical grade in the picture does not violate their current rules.

 

Did you buy a bad coin from this seller

Well according to what he said he bought a lot of coins from the seller and then didn't pay for them, which does violates ebay rules.

 

Your heart is in the right place but you aren't the national nanny who can decree that he can't operate this way because you don't like it. Believe me we don't like some one who operates this way either and if you can actually find where he is truly violating an ebay rule I'm sure we would be happy to nail him to the wall. Until then caveat emptor.

 

And he can make up any story he likes about how he got his coins

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