Got taken advantage of 1 1

[Keith Dee]

On 12/1/2021 at 2:05 PM, RWB said:

Complain to ANA -- they are supposed to benefit collectors....

What exactly is the ANA supposed to do about it? They are a coin club. They’re not the FAA or FCC of coins and it’s not like they can go out and fine these people selling counterfeit coins. I would have to assume the people to contact would be Secret Service or FBI if the coin is legal tender and the person is selling it as such. Other then that the ANA provides you with online courses and a large library on Numismatics, access to the coin museum and free coin grading submission. I don’t recall them offering a way to get anyones money back on a bad deal.

[RWB]

They are Federally Chartered. Intended to benefit numismatics, collectors, etc. No, they could nto get your money back, but many feel they have a responsibility to collectors to aggressively  inform, defend, and pursue prosecution of ALL counterfeit makers or sellers. They can do that under the Hobby Protection Act, of which ANA was a sponsor.

With out that, as you say, "they are a coin club" - and of no meaningful value in protecting the honesty and value of coin collecting.

[VKurtB]

On 12/3/2021 at 4:53 PM, Mikhail2400 said:

$10 well spent in my opinion. Not only did you learn a valuable, yet cheap, lesson you also received a token/reminder to help you remember the lesson and its a good conversation piece. If it were mine I would put it in a capsule with a label saying "If it seems too good to be true it probably is" and I would call it my "Captain Morgan".

Love the idea. Hate the product. (Captain Morgan)

[VKurtB]

On 12/3/2021 at 8:41 PM, RWB said:

They are Federally Chartered. Intended to benefit numismatics, collectors, etc. No, they could nto get your money back, but many feel they have a responsibility to collectors to aggressively  inform, defend, and pursue prosecution of ALL counterfeit makers or sellers. They can do that under the Hobby Protection Act, of which ANA was a sponsor.

With out that, as you say, "they are a coin club" - and of no meaningful value in protecting the honesty and value of coin collecting.

Federal Charter is utterly irrelevant. They lack ALL legal standing to “pursue prosecution”, insomuch as they are not a party nor do they hold prosecutorial powers. The BEST they could possibly manage is to be an expert witness called by a party. Presumably they’d avoid bragging about being “for sale” for the right amount on numismatic message boards, unlike @RWB, hence damaging their credibility.  The ANA was NOT a “sponsor” of the Hobby Protection Act; only Members of Congress or Senators do that. The ANA even avoided taking a position on the bill that authorized the 2021 Morgan and Peace dollars, leaving that to individual Board members to do that privately on their own. (Mostly Tom Uram.)

Edited December 4, 2021 by VKurtB

[MN1]

I would hate being taken but if it happened thankful not more than $10.  Although seeing raw Morgans selling at flea markets and barn sales out my way in mid-2020 for $28 looking like F, VF, XF and then for $30-$35 last winter I would have been suspicious.  But hey, anyone new and just getting into collecting won't know this.

I lost 5x that on an Ebay purchase but not due to being fake but because the USPS delivered to an incorrect address and whoever the recipient was didn't return the package.  The Ebay guarantee doesn't cover you if the tracking number shows "Delivered".  Threw my Hail Mary pass to my credit card company which said give them 120 day to make a final decision.  Will see what happens.  I've been prepared as they said theft is only covered when it's an unauthorized purchase.

[Mohawk]

On 12/4/2021 at 12:07 PM, VKurtB said:

Love the idea. Hate the product. (Captain Morgan)

Yeah.....I'm not a rum guy myself.  I don't drink anymore because of a medication I'm on, but when I did, I was actually an absinthe cocktail guy.  

[BlakeEik]

On 11/26/2021 at 9:42 PM, Tridmn said:

Bought this for 10 and after weighing it on both sets of my scales. Supposed to be right at 27g. This one is 21g.

I hope you mean $10 as was assumed throughout the post - if so, I waste $10 at Starbucks all the time so you got a cheap hole-filler until the real-deal comes along.

My opinion: if you are going to buy a classic coin worth over $200, buy it certified or from a brick & mortar store with a return policy.

[R__Rash]

On 12/11/2021 at 1:47 PM, Mohawk said:

Yeah.....I'm not a rum guy myself.  I don't drink anymore because of a medication I'm on, but when I did, I was actually an absinthe cocktail guy.  

In all due respects to Tridmn, we’ve all been a mark somewhere, sometime, someway; 🤔

I don’t drink often, but when I do I hang out at the casino looking for the Morgan guy.  

A mark is a mark is a mark? 

Edited December 14, 2021 by R__Rash

[GoldFinger1969]

On 11/27/2021 at 1:01 AM, Tridmn said:

Guy looked like he was down an out on his luck at a casino; he offered it to me for 10

If you know silver is trading for $22 an ounce...and coins always sell at a premium to spot value....why would you think a $25 or so coin would be sold to you for $10, a 60% discount ?

If he offered you a $100 bill and said just give him two $20 bills....wouldn't you think it strange ?

I say this not to criticize you but to reiterate what others above said:  educate yourself about ANYYTHING you buy -- bullion coins, numismatic coins, bars, Hi-Def TVs, a microwave oven, furniture, etc. -- so you don't get burned.

Please feel free to run any purchases by your friends here.  This is a fun hobby and while you should not consider it investing, you can make good purchases that at least let you enjoy how you spend your $$$ even if the coins may or may not appreciate.

The best thing is to buy PCGS or NGC-graded coins from reputable dealers until you become more experienced.  Stay away from raw coins except with someone you trust highly.

Edited December 18, 2021 by GoldFinger1969

[Mohawk]

On 12/18/2021 at 1:21 AM, GoldFinger1969 said:

If you know silver is trading for $22 an ounce...and coins always sell at a premium to spot value....why would you think a $25 or so coin would be sold to you for $10, a 60% discount ?

If he offered you a $100 bill and said just give him two $20 bills....wouldn't you think it strange ?

I say this not to criticize you but to reiterate what others above said:  educate yourself about ANYYTHING you buy -- bullion coins, numismatic coins, bars, Hi-Def TVs, a microwave oven, furniture, etc. -- so you don't get burned.

Please feel free to run any purchases by your friends here.  This is a fun hobby and while you should not consider it investing, you can make good purchases that at least let you enjoy how you spend your $$$ even if the coins may or may not appreciate.

The best thing is to buy PCGS or NGC-graded coins from reputable dealers until you become more experienced.  Stay away from raw coins except with someone you trust highly.

All great points, GoldFinger.  Especially about buying coins already certified by NGC or PCGS.  

[Woods020]

On 12/18/2021 at 12:21 AM, GoldFinger1969 said:

If you know silver is trading for $22 an ounce...and coins always sell at a premium to spot value....why would you think a $25 or so coin would be sold to you for $10, a 60% discount ?

If he offered you a $100 bill and said just give him two $20 bills....wouldn't you think it strange ?

I say this not to criticize you but to reiterate what others above said:  educate yourself about ANYYTHING you buy -- bullion coins, numismatic coins, bars, Hi-Def TVs, a microwave oven, furniture, etc. -- so you don't get burned.

Please feel free to run any purchases by your friends here.  This is a fun hobby and while you should not consider it investing, you can make good purchases that at least let you enjoy how you spend your $$$ even if the coins may or may not appreciate.

The best thing is to buy PCGS or NGC-graded coins from reputable dealers until you become more experienced.  Stay away from raw coins except with someone you trust highly.

This would be true for run of the mill Morgans. An 1895-S is a whole other story. In AU55 this is about a $2k coin, and at MS-62 your are looking at close to a $5k coin. That’s a key date.