Seller busted in Ebay gold coin fraud

The point is, when someone thinks that they are going to get something
more than what is due to them for the price that they are paying, their
greed overshadows rational thinking.

But you are assuming that buyers
are knowledgable about the current
price of gold, that might not always
be the case.

So NOW a person buys 96 ounces of gold without looking up the spot
prices?

I don't know about any of you, but the reason I bid on Ebay is to get good
deals. If I bid on a coin, it's because the price of my bid is lower than
the cost that my local coin dealer would charge for the same coin.

So I guess anyone who has made an internet purchase of an item that is sold
below the price of their local retail shop would be guilty according to oly.
Best Buy Online could make a fortune. Accept a payment for a $500 digital
camera and then send an $89 piece of crap. According to oly, this would be
as much the buyers fault as Best Buys.

Joe

Joe wrote:
I don't know about any of you, but the reason I bid on Ebay is to get
good
deals. If I bid on a coin, it's because the price of my bid is lower
than
the cost that my local coin dealer would charge for the same coin.

So I guess anyone who has made an internet purchase of an item that
is sold
below the price of their local retail shop would be guilty according
to oly.
Best Buy Online could make a fortune. Accept a payment for a $500
digital
camera and then send an $89 piece of crap. According to oly, this
would be
as much the buyers fault as Best Buys.

Joe

EXACTLY.

--dw

Exactly what? Joe, you should put "OT" in front of your posts and
replies. We are talking about buying and selling gold bullion at
auction (an inherently stupid concept because the seller is paying
unnecessary fees and the buyer isn't going to get a bargain - you
cannot buy gold bullion coins at 80% of their value without setting
yourself up for a ripoff) and you start talking about a retailer
masquerading as a psuedo-wholesaler selling high mark-up consumer
electronics - Best Buy online.

a digression - Millions of people ebay everyday. The coins category is
one of their less active ones I suppose, but 100,000 people probably
look there every day. I find it is a great place to locate things that
aren't readily available locally, but as for bargains - if you are the
high bidder on a truly desireable item (especially an item that is in
the "Red Book"), you have decided to pay more than hundreds of other
people. Don't kid yourself that it would be easy to resell the same
item for double what you just paid for it.

Auctioneers make money, retailers make money, wholesalers make money.
Tyro buyers live in their own fantasy world. Not only was Fields
correct, but so was Barnum.

oly


linxlvr wrote:
Joe wrote:
I don't know about any of you, but the reason I bid on Ebay is to
get
good
deals. If I bid on a coin, it's because the price of my bid is
lower
than
the cost that my local coin dealer would charge for the same coin.

So I guess anyone who has made an internet purchase of an item that
is sold
below the price of their local retail shop would be guilty
according
to oly.
Best Buy Online could make a fortune. Accept a payment for a $500
digital
camera and then send an $89 piece of crap. According to oly, this
would be
as much the buyers fault as Best Buys.

Joe

EXACTLY.

--dw

oly wrote:
Exactly what? Joe, you should put "OT" in front of your posts and
replies. We are talking about buying and selling gold bullion at
auction (an inherently stupid concept because the seller is paying
unnecessary fees and the buyer isn't going to get a bargain - you
cannot buy gold bullion coins at 80% of their value without setting
yourself up for a ripoff) and you start talking about a retailer
masquerading as a psuedo-wholesaler selling high mark-up consumer
electronics - Best Buy online.

a digression - Millions of people ebay everyday. The coins category
is
one of their less active ones I suppose, but 100,000 people probably
look there every day. I find it is a great place to locate things
that
aren't readily available locally, but as for bargains - if you are
the
high bidder on a truly desireable item (especially an item that is in
the "Red Book"), you have decided to pay more than hundreds of other
people. Don't kid yourself that it would be easy to resell the same
item for double what you just paid for it.

Auctioneers make money, retailers make money, wholesalers make money.
Tyro buyers live in their own fantasy world. Not only was Fields
correct, but so was Barnum.

oly


linxlvr wrote:
Joe wrote:
I don't know about any of you, but the reason I bid on Ebay is to
get
good
deals. If I bid on a coin, it's because the price of my bid is
lower
than
the cost that my local coin dealer would charge for the same
coin.

So I guess anyone who has made an internet purchase of an item
that
is sold
below the price of their local retail shop would be guilty
according
to oly.
Best Buy Online could make a fortune. Accept a payment for a
$500
digital
camera and then send an $89 piece of crap. According to oly,
this
would be
as much the buyers fault as Best Buys.

Joe

EXACTLY.

--dw

do you ebay at all?
I often bid on junk silver, well below bullion. I get perhaps 1 out of
50 bids. I have never been ripped off buying bullion, and only get it
below spot.

BTW-This thread went OT when you posted a victim should be charged 50%
of the amount stolen from him. As I see it, the last dozen(?) posts
were really about that, not bullion purchasing.

PS-In a way I do know what your saying about; "you get what you pay
for."
It's a truisim I live by. But I have been cheated by companies at
times, I am thankfull we have laws that prosecute criminals, and I am
glad I get my money back when they are caught. 100%.
--dw

BTW I have a very respectable ebay feedback score. On ebay, I
generally buy mexican caps and rays 8 reales; nicely medals and other
exonumia that appeal to my historical interests; and local postcards
especially of the Illinois State Fair. I tend to sell elongated coins
and tokens that I manufacture or produce personally (in the last four
years I have made over 80 original elongated coins, two original A.
Lincoln related tokens and am in the process of making a 2 inch sized
historical medal - all three of these round pieces are mostly of local
historical interest).

I've collected coins for over thirty-five years and I've paid a lot of
"tuition" for what I know. The times that I've gotten burned the worst
were exactly those times when a deal was too good to be true but my
personal greed overruled what I should have known.

If you are getting a small bargain on silver bullion "on one out of
fifty ebay auctions" congratulations; but you could probably make more
money collecting (picking up)aluminum cans. What is your time worth?

oly


linxlvr wrote:
oly wrote:
Exactly what? Joe, you should put "OT" in front of your posts and
replies. We are talking about buying and selling gold bullion at
auction (an inherently stupid concept because the seller is paying
unnecessary fees and the buyer isn't going to get a bargain - you
cannot buy gold bullion coins at 80% of their value without setting
yourself up for a ripoff) and you start talking about a retailer
masquerading as a psuedo-wholesaler selling high mark-up consumer
electronics - Best Buy online.

a digression - Millions of people ebay everyday. The coins
category
is
one of their less active ones I suppose, but 100,000 people
probably
look there every day. I find it is a great place to locate things
that
aren't readily available locally, but as for bargains - if you are
the
high bidder on a truly desireable item (especially an item that is
in
the "Red Book"), you have decided to pay more than hundreds of
other
people. Don't kid yourself that it would be easy to resell the
same
item for double what you just paid for it.

Auctioneers make money, retailers make money, wholesalers make
money.
Tyro buyers live in their own fantasy world. Not only was Fields
correct, but so was Barnum.

oly


linxlvr wrote:
Joe wrote:
I don't know about any of you, but the reason I bid on Ebay is
to
get
good
deals. If I bid on a coin, it's because the price of my bid is
lower
than
the cost that my local coin dealer would charge for the same
coin.

So I guess anyone who has made an internet purchase of an item
that
is sold
below the price of their local retail shop would be guilty
according
to oly.
Best Buy Online could make a fortune. Accept a payment for a
$500
digital
camera and then send an $89 piece of crap. According to oly,
this
would be
as much the buyers fault as Best Buys.

Joe

EXACTLY.

--dw

do you ebay at all?
I often bid on junk silver, well below bullion. I get perhaps 1 out
of
50 bids. I have never been ripped off buying bullion, and only get it
below spot.

BTW-This thread went OT when you posted a victim should be charged
50%
of the amount stolen from him. As I see it, the last dozen(?) posts
were really about that, not bullion purchasing.

PS-In a way I do know what your saying about; "you get what you pay
for."
It's a truisim I live by. But I have been cheated by companies at
times, I am thankfull we have laws that prosecute criminals, and I am
glad I get my money back when they are caught. 100%.
--dw

I might add that my worst losses were all sustained on U.S. coins, not
on foreign crowns or medals. These problems were either raw gold coins
bought personally (later found to be high quality fakes) or certified
coins bought from major dealers via their catalogs (they sell the high
end for that specific MS at shows and the low end stuff for that MS
goes out through the mails).

My worst coin losses pale in comparison to the retail trash my wife
brings home from the mall. It helps to be philosophical.

oly


oly wrote:
BTW I have a very respectable ebay feedback score. On ebay, I
generally buy mexican caps and rays 8 reales; nicely medals and other
exonumia that appeal to my historical interests; and local postcards
especially of the Illinois State Fair. I tend to sell elongated
coins
and tokens that I manufacture or produce personally (in the last four
years I have made over 80 original elongated coins, two original A.
Lincoln related tokens and am in the process of making a 2 inch sized
historical medal - all three of these round pieces are mostly of
local
historical interest).

I've collected coins for over thirty-five years and I've paid a lot
of
"tuition" for what I know. The times that I've gotten burned the
worst
were exactly those times when a deal was too good to be true but my
personal greed overruled what I should have known.

If you are getting a small bargain on silver bullion "on one out of
fifty ebay auctions" congratulations; but you could probably make
more
money collecting (picking up)aluminum cans. What is your time worth?

oly


linxlvr wrote:
oly wrote:
Exactly what? Joe, you should put "OT" in front of your posts
and
replies. We are talking about buying and selling gold bullion at
auction (an inherently stupid concept because the seller is
paying
unnecessary fees and the buyer isn't going to get a bargain - you
cannot buy gold bullion coins at 80% of their value without
setting
yourself up for a ripoff) and you start talking about a retailer
masquerading as a psuedo-wholesaler selling high mark-up consumer
electronics - Best Buy online.

a digression - Millions of people ebay everyday. The coins
category
is
one of their less active ones I suppose, but 100,000 people
probably
look there every day. I find it is a great place to locate
things
that
aren't readily available locally, but as for bargains - if you
are
the
high bidder on a truly desireable item (especially an item that
is
in
the "Red Book"), you have decided to pay more than hundreds of
other
people. Don't kid yourself that it would be easy to resell the
same
item for double what you just paid for it.

Auctioneers make money, retailers make money, wholesalers make
money.
Tyro buyers live in their own fantasy world. Not only was Fields
correct, but so was Barnum.

oly


linxlvr wrote:
Joe wrote:
I don't know about any of you, but the reason I bid on Ebay
is
to
get
good
deals. If I bid on a coin, it's because the price of my bid
is
lower
than
the cost that my local coin dealer would charge for the same
coin.

So I guess anyone who has made an internet purchase of an
item
that
is sold
below the price of their local retail shop would be guilty
according
to oly.
Best Buy Online could make a fortune. Accept a payment for a
$500
digital
camera and then send an $89 piece of crap. According to oly,
this
would be
as much the buyers fault as Best Buys.

Joe

EXACTLY.

--dw

do you ebay at all?
I often bid on junk silver, well below bullion. I get perhaps 1 out
of
50 bids. I have never been ripped off buying bullion, and only get
it
below spot.

BTW-This thread went OT when you posted a victim should be charged
50%
of the amount stolen from him. As I see it, the last dozen(?) posts
were really about that, not bullion purchasing.

PS-In a way I do know what your saying about; "you get what you pay
for."
It's a truisim I live by. But I have been cheated by companies at
times, I am thankfull we have laws that prosecute criminals, and I
am
glad I get my money back when they are caught. 100%.
--dw