Will this escrow alternative work, or will I get burned

[carterhaines-migration]

I am working with someone in prague, czech republic to finalize an expensive ($1000-1200) coin deal. As I cannot necessarily trust someone like that, I worked with him on a plan so that no one gets scammed. He is in a rush, and has declined my requests to employ an escrow service. The plan that we have almost agreed on is that I will go to www.westernunion.com and purchase a money transfer for the correct amount, but not under his name. I will give him the information about the transfer (senders name, recipients name, and MTCN [western union money transfer control number]) so that he can verify that the money transfer exists. He will then send me the coin. After I receive the coin, I have Western Union change the name of the money transfer to hism thus finalizing the deal. It seems decent to me, but does anyone have any thoughts of even the most unlikely ways that I could be scammed?

[truthteller]

I believe there was a news article on a recent network that described the scenario exactly as you have stated. End result: customer lost his money. Your end result: You will lose your money.

 

TRUTH

[gmarguli]

Why not just use PayPal?

[carterhaines-migration]

if you get scammed with paypal, you get NO money back whatsoever.

[gmarguli]

You can have the charges reversed by your credit card company (provided you pay with a credit card).

 

You can also buy their insurance that protects your purchase.

[darktone]

credit card is best in my opinion because there is some recourse even if you use it through paypal. Alway's be willing to accept the loss of your money if you do deals like this because if he keeps your money or sends you no coin there is really not much you can do. mike

[MarkFeld]

DON'T do it ! - I think the "seller" can get the $ from Western Union, as soon as he pleases, under the scenario you provided. And, you'll never receive the coins.

[Count_Erfit]

Are we talking about a bad Czech here?

 

 

groooooannnn

 

 

[Hoot]

Oh! Count_Erfit! Your punnery spillith over.

 

On the topic: I agree with Greg - use your credit card (as also others have said) and purchase the PayPal purchase coverage if you're really nervous.

 

Hoot

[JD-migration]

Oh! Count_Erfit! Your punnery spillith over.

 

On the topic: I agree with Greg - use your credit card (as also others have said) and purchase the PayPal purchase coverage if you're really nervous.

 

Hoot

 

I agree... This is the safest way to do the transaction. Asfar as the Seller's proposal, I think it smells of scam. Convoluted deals usually end up the same way.

[TomB]

I say DO IT as long as you want to absolutely lose your money! Complete and total scam! There is no reason why a legitimate seller will try to avoid escrow and make you go through this procedure. You are doomed.

[carterhaines-migration]

Okay, this person just agreed to accept escrow if I was the high bidder on the auction (at my expense). Do you think I should do the deal?

[truthteller]

DOOOOMMMED. I tell you, DOOMED.

 

TRUTH

[gmarguli]

Okay, this person just agreed to accept escrow if I was the high bidder on the auction (at my expense). Do you think I should do the deal?

 

Yes. Just use a REAL escrow company, not one of the scam ones. Use the one that eBay provides.

[michael]

pass

 

 

sincerely michael

[rgv]

http://www.msnbc.com/news/773280.asp?0bl=-0#BODY

[Beijim]

I agree with MarkFeld, TomB, and michael. I'd pass on the coin unless you really can't live without it and are willing to bear the time and expense of the escrow company. I mean, what's the chance that you'll never see another example of this coin from a source upon which you can rely?

 

Whatever your decision, good luck!

 

Beijim

 

[Dog97]

I'll say the same thing here that I said on the PCGS board:

 

Most overseas sellers take money orders or personal checks and they few that don't, they take PayPal sent to their brother in law in New York or Chicago and a few even offer "well hidden cash" as a payment option.

Since the seller "is in a rush" I think I find a good place in a #10 envelope to hide 12 $100 bills, slap a 67¢ stamp on it & throw it in the mail box.