Grossly over priced coins be aware?

[madeofcarbon68]

It is quite obvious that some sellers (not everyone, as I've met some beautiful thinking people on ebay), do not care if they are bluntly being deceptive, awhile pleading ignorant on what they sell or some give way too much information to convince you that they know what they are saying in almost declaring they are an expert in what they are selling!

However when it comes to grading coins it is quite simple, first you can increase the value of a coin collection or individual coin by sending it to ANA or reputable company that have experts on historical coins or in general,,,on how it were made, and what-out-of and the meanings of the designs...etc They then at a cost too yoi will either make your dreams come true or bring your world crumpling-down. You also loose your fees that you've paid the valuation, but on-the-other-hand if real they will certify it and put the coin {s} inside a clear protective case!! Declaring the coin is authentic or not fake! Then your is graded by its detail and overall conditio, average, VG, VF, EUNC, UNCirculated, mint, proof....etc Obviously you the higher detailed coins. Which means no marks and NO cleaning, no demage...right...?

So please be wary of such people with over stated descriptions with no independant coin certifications, who are asking tens of thousands dollars for coins that are at best wroth $20.

Example:

[maranock]

If someone is looking to buy a coin worth tens of thousands of dollars I would expect that they would be experienced in coins and would know how to protect themselves from scammers, and know the value of listings. If a beginner was looking for coins they might get scammed for a cheaper coin or even a hundred dollars but it would teach them a valuable lesson and make them do their homework in the future to protect themselves.

Like most things in life, you have to do your research about what you purchase or risk losing your money. Buyer beware.

[lyndal1838]

Anyone who buys from that seller deserves whatever they get.

The seller has just started selling coins and has terrible feedback. 

They have starting prices in the hundreds of $$$ but BIN prices in the tens of thousands.  All the coins are very high grades and very expensive.

I doubt that even the biggest coin dealers in Australia would have as many expensive coins as this very small seller is claiming to have to sell.

To be honest, the pictures show coins that look to have been minted last week and with a much higher shine than they would have had when they were new from the mint, not 70 or more years old.

Not many coins buyers would need to be warned about that seller.

[collect247]

First of all when I see these sorts of listings I tend to have a laugh and then I get a bit annoyed because there is no way in the world I'd even consider buying these coins.

I do get **bleep** off and I do feel like messaging these sellers and giving them a what for lol but I just laugh it off and move on as no one in there wright mind would even consider buying them.

To me that coin looks like it's a fake anyway lol.

[collect247]

That coin might be the real deal and if it is it's only worth around $100 in uncirculated condition minted in Calcutta

[*tippy*toes*]

I reckon they've either been refinished with something or are special remints that the mint sometimes does, or fakes. I'm guessing the latter. Although all the fakes I own (which were purchased as fakes), have "copy" stamped on there, including my near proof 1930 Penny, so probably been sprayed with something.

A 1930 Penny in that condition would be worth millions. If you look at the close ups you can see where it's been sprayed. Pennys are graded by how many pearls are present in the crown. I can see 4 pearls, which is not consistent with the shine on the coin. A shine like that should have them all present. It's quite scratched up under the spray paint and a lot of the scratching is about where my fake 1930 has the word "copy". 

Dealers like this should be shut down. He offers no official certification which sellers of original rare coins all have. It is known in the numasmatic circles if there is no certificate, assume it's fake (as in for the 1930 Penny and other really rare years). It's dealers like this that scare me. Like anything, someone unknowing comes along and think they've hit the jackpot. The seller racks off before the buyers realise they've been had.

[collect247]

Just had a very close look at those coins and to me they look like they all came out of a 2up set lol

[collect247]

1930 penny in UNC cond at tops is worth around $300 grand,so this seller has obviously undervalued his coin lol.

This seller doesn't have a bloody clue what he is selling nor what he thinks he is selling is really worth what a goose lol.

[*tippy*toes*]

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@kookakook wrote:

Just had a very close look at those coins and to me they look like they all came out of a 2up set lol

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You've probably got a good point there. I know you are clued in when it comes to coins, so there is probably a lot of merit to your statement. Not something I'd thought of. I thought they looked like they'd been spray painted with something.

[*tippy*toes*]

I just sent the seller a message regarding their 1930 Penny. I asked if they have a COA for it, or did it come from a 2UP set. I said if they have a COA, then I am definitely interested. I doubt I'll get a reply.