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Posted by Chris on May 30, 2008 at 18:13:29:
In Reply to: Re: Stopping Order At Bank/World Reserve Monetary Exchange Validity posted by JeffK on April 01, 2008 at 19:18:47:
: Any time you see a company advertising coins with all sorts of emotional adjectives attached, beware. Esp. with new coins, make sure you can't get the same coins for a lot less by going to your bank. Those are red flags to RUN, do not walk, the other way.
: Plus, buying from any organization that doesn't have any mention of adhering to industry-recognized standards (PNG, for ex.) is a lot like buying a car off the street and hoping you got a good deal (NOT).
: Your example will hopefully help others. The rules as always:
: > Do your homework.
: > Caveat emptor.
:
: Also,
: : All these negative comments are freaking me out!! I never bought a coin before in my life before responding to their fullpage ad.
: : I did receive the first five rolls and indivual coins but I signed up for the whole set and I will try to cancel.
: : HOWEVER, HERE'S A TIP TO PROTECT YOURSELVES:
: : If I am willing to pay a $20 charge at my bank, I can stop ANY charge (before the charge, that is) by indicating the PRECISE amount I don't want paid.
: : The set I signed up for is $28 per roll of 12 + one matching separate coin, plus $6.88 for shipping = $34.88. I don't know if they charge the whole $34.88 or break it down into the two amounts of $28.00 and $6.88.
: : I can tell my bank, at $20 for EACH amount, not to pay any charges in those amounts.
My extensive experience in trying to find some value in "rare and collectible coins" has led me to this conclusion: NEVER BUY ANY COIN THROUGH ADVERTISERS THAT BOAST THE COINS COLLECTIBILITY" If they were worth more than they are selling them for, they'd distribute them through unscrupulous outlets themselves (can you say Ticketmaster?). I inherited a trunk full of coins (LITERALLY THOUSANDS) from all over the globe, dating back to the 1700's. After meeting with many public and private collectors, I discovered that they are worth 2-3 dollars per pound. Most dealers don't even care to look at them. They just throw them on the scale. Sure there are valuable coins, but you and I can't afford to get them. If they have silver or gold in their composition, then you get a few bucks more. Otherwise, do what I do with my "rare and collectible coins". Drill holes and make jewelry, tie pins, money clips, etc. And... if you have the opportunity to sign a petition to end these type of predatory and unscrupulous marketing scams -- DO IT! Don't fall prey to them. Avoid supporting the companies that are at the end of those " you're almost on your way to winning some crap, just a bit more info" scams. They are Blockbuster, Columbia House, BMG, etc. But if you did, you had better be ready to play hardball for your rights and your money. Good Luck!!!