I bid on some fake items, but haven't paid...

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Noob
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I bid on some fake items, but haven't paid...

#1 Unread post by Noob »

I haven't collected coins since I was child, but decided to jump back into it with some online auctions on www.liveauctioneers.com I got a little carried away with it... won a roll of "bank wrapped" Morgan dollars and a USCG graded Morgan slab. I should've done more research because the rolls are obviously fake; and the USCG slab is fairly worthless as they went defunct years ago for over-grading. "The Banker's Trust of Philadelphia" was only around from 1926-'30 and the end coins on the roll don't have any tone. So no way the roll was closed for 90 years. This auctioneer, Key Dates Auctions AKA Silver Trades, sells USCG slabs almost exclusively. So I don't see how they could claim ignorance when they specialize in coins and mostly use a defunct scam grader that went out of business years ago.

The terms and conditions for bidding were very harsh, but they never verified my identity or card info. Just my email. I still haven't received an invoice a 4 days later. Am I still gonna be on the hook for paying? Anyone have experience with this? I read they usually back off if you can prove that they're selling fakes and threaten to take them to court.
Last edited by Noob on Fri Aug 14, 2020 1:18 am, edited 1 time in total.

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Daniel
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Re: I bid on some fake items, but haven't paid...

#2 Unread post by Daniel »

I wouldn't pay if they're fakes or misrepresented.

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Re: I bid on some fake items, but haven't paid...

#3 Unread post by Paul »

:welcome:
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Re: I bid on some fake items, but haven't paid...

#4 Unread post by Earle42 »

:welcome:
Agreed - let them know you know you discovered the lot as presented was incorrect and share the facts with them.
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

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Re: I bid on some fake items, but haven't paid...

#5 Unread post by Paul »

Interesting.....

I found 2952 NGC graded items,
& 2256 PCGS graded items on the website.....???? :confused:
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Re: I bid on some fake items, but haven't paid...

#6 Unread post by PetesPockets55 »

P,
Did Live Auctioneers or did Key Dates Auctions (AKA Silver Trades) have that many listings for graded coins?

Do a search for Key Date Auctions at the link provided and a bunch of Morgan dollar ender rolls pop up. The rolls are the "window" style that were popular in the 50's & 60's I think. The empty rolls may be modern reproductions though because of the popularity of searching rolls, from cents to dollars.

BTW- Live Auctioneers is a national site that brings buyers and auctions together. We have a local auction house that uses them to open their bidding to online bidders. It increases the exposure for smaller, local auction houses. Online bidders pay an additional premium (5%?) if they win. Good for the auction house because it increases exposure and "sold for" prices and therefore their bottom line but seems to increase the cost for us bidding from inside the building.
C

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Re: I bid on some fake items, but haven't paid...

#7 Unread post by Paul »

C,
I just went to the website referred to in the post, and searched for "NGC" & "PCGS" listings.........
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