Great info Ben. Also never invite a buyer or seller of a coin to your home. Always conduct the transaction at the police department. I work in law enforcement in Canada and have seen crimes where the buyer/seller shows up at your home and within days you get broken into to, or you are robbed on your doorstep. If the buyer/seller shows up with another person, never let one person into your home to use the washroom while you are at the door with the other person. Only deal with reputable dealers.
I can only agree with Ben. I have only been collecting for a couple of years but the best deals are usually going to be from a reputable dealer. Fair price, expertise, no buyer premium and if there is an issue they will make it right.
great PSA Ben! thx... kind of like those folks in mall parking lots asking if you want to buy speakers (still in box) for really really cheap.... boxes are full of newspapers and/or rocks....
Thanks for the excellent video Ben, very important info!!! One of the things that drives me crazy about some RU-vidrs... they'll advertise for mining stocks, some will do anything for a buck, and I always feel like they know better than push that junk!
There's this guy in Tuscon who keeps trying to get me to buy coins though the youtubes. Posts every single day, flashing the bling, talk about high pressure.
This has been going on for years either there is no coins or they charge crazy prices for common coins but I have seen that with coin shops pay 80 percent grey sheet then sell in coin shop for 10 percent over retail making 90 percent profit but that’s ok they say because you the collector not supposed make any money matter fact one dealer told me it’s a hobby your supposed lose money like a hobby like hunting or fishing as he stood in his brick mortar business drawing a 100 thousand salary
I've seen the elderly taken advantage of in this hobby. But it's also very common to see others buying into media hype as well. I've had conversations where a common coin is in someone's safe and treated like a treasure until I hand them three from my pocket, clearly not so rare. My LCS talked recently about a guy with a lincoln cent that wanted insane money. My shop owner pulled a bucket out and said I'll sell you all of these for less than you want me to buy one for. The guy was clearly ill-informed. In my opinion, if you don't take the time to learn about something, don't take the time to spend money on it. It's sad that with such an ease of information, people are still misguided and abused.
Publishers clearing houses is a really big scam that prays at the elderly! My mother had Old timers and when she first started coming down with it they were sending her little toy cars every week sometimes twice a week for 19 dollars each! She lived by herself and I went over there one day and she had at least 50 toy cars all over the place and she said she liked them but I knew something was wrong the next day they sent her this really cheap plastic stick from China I forget what it was again it was 19 dollars I told to stop it I called the publishers clearing house and told them to knock it off! I then went to the mailbox every day and there were 10 or more letters from them telling her she was close to winning the grand prize. Every day for 6 or 7 weeks mail came and I didn't let my mother even see none it! Finally, they got the message and stopped the scam!
I got an unsolicited call a year or two ago. "Do you remember [our name]?" I said "uh no." (It barely rung a bell.) I have no idea if they were legit but they wanted me to buy raw coins unseen.
One that calls me is government mint and when you answer they say remember me from a few months ago stuff like that they will set up a payment plan to your liking I know better thank God
Hi Ben my wife got scammed buying some morgan dollars for me as a gift ,when I received them everyone of them were fake I felt bad for my wife because she was taken advantage of always keep your eyes and ears open
It’s kind of funny seeing local dealers whine about online dealers. Whereas local dealers are usually the ones down playing a collectors coin. You have to be careful where you buy any of your coins. Being educated about collecting is important. There are good and bad dealers everywhere. Obviously the guy on his channel has his agenda as well.
If you work with an online dealer, make sure they have a 30 day return policy. Make sure they have been in business a long time. check the BBB. Reality contrary to what this channel is suggesting there are decent and reputable companies online or who advertise on TV, radio.
