Scams on Gold Coins

keith — Sat, 17 Apr 2010 10:32:25 +0000

While everyone seem to be involved in a Gold Rush Silver has been steadily growing in worth .
Although Silver is still growing in value it will probably continue growing in value.
One investor tried to corner the market in silver but was eventually thwarted.

Scams on Gold Coins

when buying or selling gold coins,look out for gold coin scams
Selling - when you are selling a gold coin (or coins) how do you know who is bidding on your coins?
Usually you cannot.
Ebay has a problem here in that they want to avoid direct selling between buyer and seller and then they lose their commission.
So they try to keep buyers details secret.
You on the other hand want to find out if they buyer is real or is using a stolen ebay account.
(I had this happen to me with a gold bracelet)
First thing to do is check the LOCATION of the buyer from their ebay about me page.
Thieves usually choose to use a stolen account from a different country.
First thing to do is to write to a successful bidder asking them to confirm that they have actally made a bid !
You MUST do this through the eBay communication system.
When this happened to me the buyer was in Manchester England but the actual owner of the account was in Australia !
She was very surprised and we cancelled the transaction.
The thief still went ahead and made a bid on the same item again when I re-listed it ! He was subsequently banned from eBay of course.
Moral of story -
ONLY send valuable items AFTER you have checked that the buyer has made a bid and ONLY send them to the PAYPAL Address.
If you fail to do this then wave bye-bye to both the goods AND the money (as Paypal will deduct the funds from your account too)
Then you will lose out twice.

When BUYING on ebay make the same checks in reverse.
the Seller MUST be in the same location as the Paypal address (people steal Paypal accounts too !)

If you fall for this scam then you also risk the thief stealing YOUR eBay and Paypal accounts too.
Just be careful out there !

One simple scam that was tried on me in Paris last week in one of the passages (rows of 18th century shops)

A fairly pretty girl aproached me grasping a gold ring - she claimed she had just found at the entrance to the street - I congratulated her (in my best French) and suggested that as she was having lucky day she should buy a lotto ticket !

This scam is fairly simple - the ring is offered to you for 10 or 20 $ but it is not the ring you end up with.
The Girl switches rings on you and you end up with a brass ring !
I've seen the same con worked all over the world.

Most scams on gold coins operate on a similar basis - you are offered an impossibly good bargain - and you end up with the equivalents of a brass ring.

If it looks too good to be true - it almost aways is !
That is the basis of all scams on gold coins (or gold rings !)

One of the other things to lok out for is expensive gold coins being sold on a PRIVATE SALE (this is where the public cannot see the identity of the seller or the buyer.)

I would personally avoid such auctions as there is no practical way to idenity the seller without a good deal of time and trouble (scam artists motto is usually take the money and run - so they will not even be there when you eventually get their addrss !
While the sellers say that this is to protect the buyer (and to a degree that is true !) in actuality the seller is even more protected.

articles expanded on the same theme

http://greatgoldcoins.net/nazi-fake-coins/

http://greatgoldcoins.net/scams-on-gold-coins/

http://greatgoldcoins.net/identifying-fakes-and-forgeries/ The following are genuine auctions from ebay !

2012 American Silver Eagle Dollar Coin 1 Troy Ounce Of 999 Fine Silver GEM BU
US $34.90

Native Indian Women Teepee Doubloon Token Coin 1984
US $3.50

Belly Dance Black Sequined Velvet Gold Coin Hip Scarf
US $10.80

1 10 Troy Oz 999 Silver Liberty Incuse Indian Head Wheat Coin Brilliant P0021B
US $9.98

Belly Dance Red Sequined Velvet Gold Coin Hip Scarf
US $10.80

Belly Dance Pink Sequined Velvet Gold Coin Hip Scarf
US $10.80

Before You Buy Another Coin

keith — Fri, 16 Apr 2010 15:39:21 +0000

Before you buy another Coin
Apr.30, 2009 in Ancient Coins, Coin Identification, Fake Coins, Gold Coins, scams

I really suggest you should check out a few of the links on my previous post.

I was not aware of a few of these fakes and I would like to try to help you avoid some of the fakes around at present.
Quite a few of the forgeries seem to come from the Far East so I would SERIOUSLY ask that you check out the Feedback for any vendor selling from China.
Notably the Panda Series are often copies.
I have noticed myself fakes of German Nazi Gold Coins (they are base metal gold plated recently) and Trade Dollars (there are more details on he link above)
As for Roman Coins - well I would check out any valuable ones carefully.
A good way to do this is to go onto eBay and do an Advanced Search looking for the same coin you are considering - if more than a couple show up with the same details and especially from the same vendor then it might be wise to look elsewhere.

Another of my websites is www.bestvintage mickey.com and the exact same situation arises with Fake Mickey Mouse rare collectors pins.
A few Chinese factories are really geared up specifically to copy and mass produce rare collectors pins to sell on auction sites.
I assume it is the same factories who have seen the posssiblities of mass producing Trade Dollars and other valuable coins.

http://www.bestvintagemickey.com/Store/disneypins

greatgoldcoins.net » fake gold coins

Scams on Gold Coins

Before You Buy Another Coin