Old Banks Filled With Coins

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Daniel
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Old Banks Filled With Coins

#1 Unread post by Daniel » Sun May 04, 2014 7:43 pm

I just wanted to point out another type of fraudulent listing. I see ebay sellers selling vintage banks that are full of coins and it's tempting enough but there's a few things you should know.

Does the seller sell these often?

Are all the images in focus?

Why do you think the seller would sell possibly rare coins before looking at them?

In the following auction you will see the seller has decent images of the bank itself but the coin images are blurry. It's just too bad people can see through this and continue to bid on these auctions Bank Full Of Coins Auction



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Re: Old Banks Filled With Coins

#2 Unread post by PALH1 » Sun May 04, 2014 8:05 pm

OH MY......
i actually busted out lol: d!

get a $1 flee market "replica" (even states it) bank, rinse it off, spray it silver (minus wheels + base-plate), even spray the 'black' rubber plug....throw $1.85 in change in it....put it on :ebay: ,....as a 'private auction'.....SHILL BID it up to, say $60, $70, $80?
KA-CHING!
:l
but people will buy/bid on 'anything' if someone else is trying to buy it also....this is called 'greed'

notice how ALL the pics without coins are nice & clear??

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Re: Old Banks Filled With Coins

#3 Unread post by Nolifeking » Mon May 05, 2014 1:47 am

Thanks for the post Daniel. Surprisingly enough I bought a cast iron bank not too long ago from a local auction. I paid less for the bank than it goes on ebay and didn't even know that there was coins in it. Not sure if the owner put them in there to try to increase bidding or what, but when it rattled after buying it I assumed it to be all modern coins. I was surprised to find an IHC either seeded or not I was happy with the price and the IHC. Part of me wants to think that the coin might have been stuck in the corner and that the seller didn't know it was in there and added a few modern coins. All speculation of course.

It's interesting that you bring up shill bidding PAHL because there was an ebay auction recently for a different type of item that I collect. I was very disappointed to see the seller was shill bidding so I couldn't bring myself to even bid on the item despite me really wanting it. I wish there was more we could do to stop it.

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Re: Old Banks Filled With Coins

#4 Unread post by PALH1 » Mon May 05, 2014 2:39 am

the 'shill bidding' is so much of it now, it's really the 'norm', for anyone1 who sells .99 NR (& gets a system with several accounts going) at on-line auctions.....WHATEVER THEIR SELLING.
just what it's turned into.....that's why i never do a :ebay: .99 NR.

1. some of these guys are MASTERS at this. they have been doing it so long...it's a gut/second nature to them.......(i've even asked a few "how high are you gonna shill this up to please?)

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Re: Old Banks Filled With Coins

#5 Unread post by dipper13 » Mon May 05, 2014 6:17 am

The more you guys talk of these EBAY scams, the less I want to buy there. It seems like a jungle of deceit. Where are the legit deals? How do you recognize the good from the bad?

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Re: Old Banks Filled With Coins

#6 Unread post by Daniel » Mon May 05, 2014 6:55 am

When I am buying I look at the seller's feedback. I look to see if they sell this item often, own a pawn shop, coin dealership or an auction house or even a storage unit business.

I know you can't always know but it's worth looking at their feedback, descriptions, their ebay stores and listen to the tone of their descriptions. You can usually pick up on possible deceit. It takes more time but you can eventually find some auctions that a seller just happen to put some coins up and don't know much about them if anything.

This particular seller admits enough things that it's an immediate red flag for me.

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Re: Old Banks Filled With Coins

#7 Unread post by PALH1 » Mon May 05, 2014 11:26 am

dipper13 wrote:The more you guys talk of these EBAY scams, the less I want to buy there. It seems like a jungle of deceit. Where are the legit deals? How do you recognize the good from the bad?
internet auctions, like everything else in life.....the more you do it, the 'better you get' at it. figuring out all the different ways/tricks they use, is ever evolving/more creative. a new favorite one i see is the "crack-out sale". these are coins that were supposedly 'graded', but "cracked out by me, for my collection" sellers. this is the 'newest' big scam i've seen. they call themselves "professional collectors" that do not like 'slabs'......their not stupid though....they at least wait the 90 day time limit, so the "sold info" gets 'dropped off the history search'.
what happens here is that they re-cycle the grading company 'label' used in the background behind the coin1. they are usually 63's or 64's......but, if you follow them, & keep track of the serial #'s, you can see the same label used on different coins in a 91 day rotation. TRICKY HUH?
they are always coming up with something new....i just could not figure out....if the guy was a professional collector, & they say that they pass them through a tgc (top grading company) to assure authenticity, & find out a 'grade', why would you then "crack it out?" if you are a 'pro', then you would not need to have it "graded or verified" genuine.....right?
you get the coin when you win...but no slab!
"SCON" = scam + con

1. this also allows them to put a 'grade & company name in the listing title'.......a HUGE search bene., in addition to you thinking the coin was graded!
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Re: Old Banks Filled With Coins

#8 Unread post by PALH1 » Tue May 06, 2014 11:17 am

GREAT GOOOGLY-MOOOGLY!!!
$127.50

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Re: Old Banks Filled With Coins

#9 Unread post by Daniel » Tue May 06, 2014 7:24 pm

How sad, people deserve this if they don't bother learning, reading and asking around. It's why these sellers thrive and I struggle to make a buck.

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Re: Old Banks Filled With Coins

#10 Unread post by PALH1 » Tue May 06, 2014 7:45 pm

Daniel wrote:How sad, people deserve this if they don't bother learning, reading and asking around. It's why these sellers thrive and I struggle to make a buck.

this is just 'greed' d,....on both sides.
what i don't get, is how people bid on any :ebay: "PRIVATE AUCTIONS"

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