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Re: World Reserve Monetary Exchange Validity

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Posted by JeffK on April 13, 2008 at 15:25:24:

In Reply to: Re: World Reserve Monetary Exchange Validity posted by James Simpson on April 13, 2008 at 08:42:24:

Now that we've dealt with spelling problems, on to business ...

As you've seen from the rest of the posts, these firms are aiming at people who do not have a lot of knowledge about coins. The Presidential dollars are readily available from banks at face value and from various dealers at only slightly more than that, and State quarters can be found in change by the zillions. But these companies are using wording like "rapidly vanishing" and "no more will be made" to give the impression that the coins are somehow special and if you don't "Act Now!" you'll never see another of the coins ever again.

Basic consumer awareness should set your nerves on edge when you see ANY ad, whether it's for coins or Electromatic Veg-O-Peelers, that implies it's a one-time deal and you have to send money right away. That's why the government actually passed laws giving people a 3-day window to change their mind on some kinds of purchases, basically to protect people from their own emotions*. To be very blunt about it, you have to do your homework before sending money to a place you've never heard of before, especially if their advertising uses a lot of emotion-charged wording. That means checking websites for other opinions, maybe reading Consumer Reports or similar at library, and so on. Yeah, it's work and it doesn't guarantee you'll never get scammed, but it'll sure cut down the chances.

Not trying to lecture, just doing a cold reality check.

==========================================

(*) OK, most of me says that the gov't really doesn't have any business playing nanny and protecting people from themselves. But OTOH no one can know about every risk or scam, there are plenty of shady characters in the marketplace, and some consumers are just gonna fall for a good line regardless. See under Crisis, Housing or Bubble, Internet.

: I'M [I'm] still waiting for the state quarters to finish the collection I [i] purchased along with the Walnut /WOODEN [woodin] case I [i] need the rest of 2007 and all the 2008 that are out I [i] have paid for the WHOLE COLLECTION [hole colection]

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: Now that we've dealt with spelling problems, on to business ...

: As you've seen from the rest of the posts, these firms are aiming at people who do not have a lot of knowledge about coins.  The Presidential dollars are readily available from banks at face value and from various dealers at only slightly more than that, and State quarters can be found in change by the zillions.  But these companies are using wording like "rapidly vanishing" and "no more will be made" to give the impression that the coins are somehow special and if you don't "Act Now!" you'll never see another of the coins ever again.  

: Basic consumer awareness should set your nerves on edge when you see ANY ad, whether it's for coins or Electromatic Veg-O-Peelers, that implies it's a one-time deal and you have to send money right away.  That's why the government actually passed laws giving people a 3-day window to change their mind on some kinds of purchases, basically to protect people from their own emotions*.  To be very blunt about it, you have to do your homework before sending money to a place you've never heard of before, especially if their advertising uses a lot of emotion-charged wording.  That means checking websites for other opinions, maybe reading Consumer Reports or similar at library, and so on.  Yeah, it's work and it doesn't guarantee you'll never get scammed, but it'll sure cut down the chances.

: Not trying to lecture, just doing a cold reality check.

: ==========================================

: (*) OK, most of me says that the gov't really doesn't have any business playing nanny and protecting people from themselves. But OTOH no one can know about every risk or scam, there are plenty of shady characters in the marketplace, and some consumers are just gonna fall for a good line regardless.  See under Crisis, Housing or Bubble, Internet.
:  

: : I'M [I'm] still waiting for the state quarters to finish the collection I [i] purchased along with the Walnut /WOODEN [woodin] case I [i] need the rest of 2007 and all the 2008 that are out I [i] have paid for the WHOLE COLLECTION [hole colection] 



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