Traveling buyer's pledge not kept

Full story: Brattleboro Reformer

With full-page ads in newspapers across the country, coupled with live promotions on local radio stations promising to pay "top dollar" for unwanted gold and silver, an Illinois-based company has returned to Beaumont but is paying only a small fraction of the actual value of precious metals and other items, a month-long investigation by The ...

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nkb

Attleboro, MA

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#1
Jan 5, 2011
 
Thanks for running this article. "Roadshow" in their title had me fooled (although once I got there I like to think I would have figured it out). I did wonder why they emphasized gold. Now I know! Again, thank you.
TNG

United States

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#2
Jan 5, 2011
 
Anyone expecting "top dollar" at these events is totally naive. Several reasons: the purchasing company has every right to make a purchase offer at a price below value because they are in business to re-sell at a profit. If a seller knows the value of an item and feels the offer is too low they can always walk away. Additionally, many sellers are eager to dispose of a possession quickly and to receive payment immediately. There is obviously a trade-off in that transaction mentality and that trade-off would be a lower purchase price. Receiving "top dollar" at these venues is a myth.

Basic truth: if something is too good to be true then it isn't.
Thomas

New Haven, CT

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#3
Jan 5, 2011
 
There is a difference between legal right and what is morally right. If people acquired their antiques or coins by inheritance, as a hobby, or other lawful means they can sell or give them to whom they wish, but a competant broker or expert knows what the items are worth, and if they play the game of waiting for the seller to tell them what they will take for the items without regard to what the wholesale value is, then the advantage is greatly on the side of the seller. It may be legally right for a couple to do whatever they want in the privacy of their bedroom, but when there is no commitment and one of the two is used to taking advantage, their is a moral problem.

I have seen many examples of people being ripped off through ignorance. The seller needs to be educated.
Thomas

New Haven, CT

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#4
Jan 5, 2011
 
Meant to say huge advantage to buyer:

http://www.topix.com/forum/source/brattleboro...

"Cash for Gold" and like scams have been regularly exposed. There is often the play on the seller's anxiety as to whether the buyer might be suspicious over legal owner of the goods, and buyers may pay green cash which is their right but leaves potential theft issues out of the equation.
Joe

Brattleboro, VT

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#5
Jan 5, 2011
 
However, they did buy a 1925 silver dollar valued at $16 for $9; two sets of two-coin silver proof U.S. Constitution coins valued at $560 for $490; a 1983 $10 gold Canadian Maple Leaf coin valued at $280 for $275 and a 1908-D $5 Indian Head gold coin in PCGS-graded MS63 condition valued at $1,800 for $450.

"They have to be fairly close on the bullion prices because that is easy to check out, but when they look up these collector coins, which are worth a lot more than their actual gold value, they are offering people pennies on the dollar," said Fuljenz. "That package of coins was valued at about $2,656 and they wrote me a check for $1,224."

Fuljenz, who taught courses for 18 years on how to grade coins, said, "I have not seen competence in their appraisals of the coins that I brought in. If you are going to have your coins appraised, go to someone who knows what they are doing. These people are not specialists or experts in this field.

Mike Fuljenz runs "Universal Coin and Bullion". He specializes in certified coins, has a lot of high-pressure sellers of these certified coins.

To get a sense of the rare and certified coin marketplace, you can visit www.teletrade.com to observe their auctions.
Edward

Keene, NH

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#6
Jan 5, 2011
 
The Moral of this story is easy don't deal with some fly by night scammers that roll into town proising the moon. I sold some of mothers old jewelry to Evan James and was treated very fairly. Keep the money local!
Ralph Wiggins

Longview, TX

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#7
Jan 7, 2011
 
And don't assume that doing business locally will always be any better.
Funnybone

United States

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#8
Feb 16, 2011
 
Ralph Wiggins wrote:
And don't assume that doing business locally will always be any better.
Hello your RINOess, nice to see you again!

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