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Thread: World reserve monetary exchange scam: update

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  1. #1
    us
    Feb 2013
    Kentucky
    559
    163 times
    All Types Of Treasure Hunting

    World reserve monetary exchange scam: update

    First of all, a lot of you were pretty tough on Tomfromnj and me for being so gullible. We didn't do some simple research by checking the company out on Bbb or just a search of complaints online. Duly noted, lesson learned, if it sounds too good to be true, it probably isn't, Barnum bailey...blah blah. A little kinder transmission of your wisdom in the future would be welcome.

    Okay, so the World Reserve was selling "unsearched" silver vault bags to a limited number of zip codes with a short deadline containing a 100 US coins for $99. Some silver including a walking liberty and older dates were promised. Here is what I got in order of "value":
    1 waking liberty 1942
    2 mercury dimes
    1 war nickel
    3 buffalo nickels
    3 v-nickels
    2-steel cents
    1-Ike 1972
    3-gold dollars
    2-Kennedy clad halves
    3-clad quarters
    18-clad dimes
    61-common nickels
    1-Canadian nickel
    Face value around $11 and collector value maybe $30 including the $10 of common clad and nickels.
    Click image for larger version. 

Name:	image-3427972087.jpg 
Views:	106 
Size:	351.2 KB 
ID:	829175
    So, it's a scam in the sense that the advertising is misleading, preys upon the treasure hunting type of personality, and carries a 200% premium. I requested a refund and after some vocal arm twisting which included: "scam", "bait and switch", and "attorney general of Ohio", they actually obliged and accepted my return with a full refund.

    So, lesson learned, silver isn't free...unless you find it in the reject tray.

    Please don't give me or Tomfromnj any more sage advice on the matter. Happy hunting.

    Sent from my iPhone using TreasureNet
    Last edited by Zero; Jul 16, 2013 at 04:55 PM.
    Sleepy Holow and fish on! like this.


    CRH 2014 Silver Total (49.75 ozt)
    Halves:1-carver, 1-barber, 1-Balboa, 8-walkers, 5-bens, 25-64s, 218-40%
    Dimes: 35-Rosie's, 2-Merc

  2. #2
    us
    Feb 2013
    West Virginia
    154
    38 times
    All Types Of Treasure Hunting
    Okay

  3. #3
    us
    May 2013
    California
    22
    12 times
    Silver hunter!
    So glad you got a refund! I have a couple of lessons learned incidents under my belt with silver hunting, I know how you feel.
    Best of luck on your next hunt
    Zero likes this.

  4. #4
    um
    Jul 2004
    Broward Co.
    Tesoro Sand Shark, Whites M6
    11,963
    2548 times
    All Types Of Treasure Hunting
    At least you got a refund. That was a victory in itself.
    Zero and sagittarius98 like this.
    In the land of the blind, the one eyed man is King.

    You can lead a horse to water but you can't make him drink it.

  5. #5
    us
    Feb 2013
    Expanding Operations
    Never used one, but am interested
    542
    227 times
    CRHing
    Thanks for the detailed report on what you got...I know many of us were curious to know what they would send. I was hoping you were going to get some kind of key date that maybe they overlooked, but it is what it is. Good job getting your money back.
    Zero and sagittarius98 like this.

  6. #6

    May 2012
    752
    379 times
    All Types Of Treasure Hunting
    I'm glad you got your money back and I commend you for posting a follow up report. Many people wouldn't have had the guts to put up the report after the bashing you guys took. I apologize if anything I said in the original thread came off as too harsh. I just didn't want to see a bunch of people get taken advantage of.

    Quote Originally Posted by Zero View Post
    First of all, a lot of you were pretty tough on Tomfromnj and me for being so gullible. We didn't do some simple research by checking the company out on Bbb or just a search of complaints online. Duly noted, lesson learned, if it sounds too good to be true, it probably isn't, Barnum bailey...blah blah. A little kinder transmission of your wisdom in the future would be welcome.

    Okay, so the World Reserve was selling "unsearched" silver vault bags to a limited number of zip codes with a short deadline containing a 100 US coins for $99. Some silver including a walking liberty and older dates were promised. Here is what I got in order of "value":
    1 waking liberty 1942
    2 mercury dimes
    1 war nickel
    3 buffalo nickels
    3 v-nickels
    2-steel cents
    1-Ike 1972
    3-gold dollars
    2-Kennedy clad halves
    3-clad quarters
    18-clad dimes
    61-common nickels
    1-Canadian nickel
    Face value around $11 and collector value maybe $30 including the $10 of common clad and nickels.
    Click image for larger version. 

Name:	image-3427972087.jpg 
Views:	106 
Size:	351.2 KB 
ID:	829175
    So, it's a scam in the sense that the advertising is misleading, preys upon the treasure hunting type of personality, and carries a 200% premium. I requested a refund and after some vocal arm twisting which included: "scam", "bait and switch", and "attorney general of Ohio", they actually obliged and accepted my return with a full refund.

    So, lesson learned, silver isn't free...unless you find it in the reject tray.

    Please don't give me or Tomfromnj any more sage advice on the matter. Happy hunting.

    Sent from my iPhone using TreasureNet

  7. #7
    us
    Apr 2011
    1,159
    616 times
    Quote Originally Posted by fish on! View Post
    I'm glad you got your money back and I commend you for posting a follow up report. Many people wouldn't have had the guts to put up the report after the bashing you guys took. I apologize if anything I said in the original thread came off as too harsh. I just didn't want to see a bunch of people get taken advantage of.
    Completely agree


  8. #8
    us
    Feb 2013
    Kentucky
    559
    163 times
    All Types Of Treasure Hunting
    Quote Originally Posted by fish on! View Post
    I'm glad you got your money back and I commend you for posting a follow up report. Many people wouldn't have had the guts to put up the report after the bashing you guys took. I apologize if anything I said in the original thread came off as too harsh. I just didn't want to see a bunch of people get taken advantage of.
    Fish on: I consider you a good friend in CRH. So, no problem.

    I think most of the pile-on stemmed from concern that our posts would encourage others to get taken advantage of as well. Looking back on it. I can't believe I fell for it. For some reason, I was convinced the federal government was redistributing some silver that had been sitting around. After reading the ad a bit closer and the complaints at the BBB, I knew I was in trouble. They did include a pretty nice looking 1926P buffalo nickel worth maybe $3 to a collector, but I am a stacker, so a silver vault bag should contain more than 2-mercs, a war nick, and a walker. I imagine that they put these vault bags together using coins that have already been searched through and they know how much they are worth. The person I talked to on the phone seemed very knowledgeable about the number and type of coins in the bag. If they had just put enough junk silver in there to make it worth $70 or so, then I probably would have kept it and considered it fun to look through. They just made it so far below the retail price, it just didn't seem right. At first, I was just going to call it a loss and hang on to the 4 silver coins, but then I started thinking for $99 I could have bought 4 ASE's or 10 walkers. It also felt good to send it back, so that I wouldn't be reminded of being swindled every time I looked at a walking liberty in my stash.


    CRH 2014 Silver Total (49.75 ozt)
    Halves:1-carver, 1-barber, 1-Balboa, 8-walkers, 5-bens, 25-64s, 218-40%
    Dimes: 35-Rosie's, 2-Merc

  9. #9

    Feb 2013
    150
    13 times
    All Types Of Treasure Hunting
    Thanks for the vote of confidence and yes I already apologized for this and will not again lol. I'm glad you got your money back as I canceled my bag the very next day. But if your looking for a reputable place to buy vault bags full of silver you can go to 90% U.S. Silver Coins time im bought some stuff from this site and I have read 90% of post and all with positive results. But you pay over premium. I'm just here trying to help so don't murder me over this. Do your research.

  10. #10
    us
    Feb 2013
    Kentucky
    559
    163 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Tomfromnj View Post
    Thanks for the vote of confidence and yes I already apologized for this and will not again lol. I'm glad you got your money back as I canceled my bag the very next day. But if your looking for a reputable place to buy vault bags full of silver you can go to 90% U.S. Silver Coins time im bought some stuff from this site and I have read 90% of post and all with positive results. But you pay over premium. I'm just here trying to help so don't murder me over this. Do your research.
    All is forgiven...I take full responsibility for my actions on this. Glad it worked out for you as well.

    Sent from my iPhone using TreasureNet


    CRH 2014 Silver Total (49.75 ozt)
    Halves:1-carver, 1-barber, 1-Balboa, 8-walkers, 5-bens, 25-64s, 218-40%
    Dimes: 35-Rosie's, 2-Merc

  11. #11

    Sep 2012
    382
    69 times
    All Types Of Treasure Hunting
    I was about to tell you to sue for false advertising because of the canadian nickel... but i added it up and its 100 US coins not including the canadian nickel. Anyways thanks for the advice about "attorney general of Ohio". Never know when that might come in handy
    Zero and sagittarius98 like this.

  12. #12
    Expert CRH'er/ Newb Dirt Fisherman

    Oct 2012
    Fema Region 3
    Ace 250, garret pro pointer, sawtooth gator
    1,477
    760 times
    All Types Of Treasure Hunting
    I really like what fish on said... Atleast you still followed up on it, honesty is a rare quality these days...

    I did see that post as it was active, but I think I kept out of it :P

    HH
    Zero likes this.
    There is a war on for your mind(whether you know it yet or not)

    “Truth is treason in the empire of lies.” - Ron Paul

  13. #13
    us
    Feb 2013
    Kentucky
    559
    163 times
    All Types Of Treasure Hunting
    Quote Originally Posted by billionaire View Post
    I was about to tell you to sue for false advertising because of the canadian nickel... but i added it up and its 100 US coins not including the canadian nickel. Anyways thanks for the advice about "attorney general of Ohio". Never know when that might come in handy
    Actually, it was advertised as 100 us coins plus a free walker...so the Canadian was a mistake on their part. They don't seem like a company with a conscience but the attorney general of Ohio has been contacted by several people who felt ripped off. So, they are feeling some pressure perhaps.


    CRH 2014 Silver Total (49.75 ozt)
    Halves:1-carver, 1-barber, 1-Balboa, 8-walkers, 5-bens, 25-64s, 218-40%
    Dimes: 35-Rosie's, 2-Merc

  14. #14
    um
    Jul 2004
    Broward Co.
    Tesoro Sand Shark, Whites M6
    11,963
    2548 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Tomfromnj View Post
    Thanks for the vote of confidence and yes I already apologized for this and will not again lol. I'm glad you got your money back as I canceled my bag the very next day. But if your looking for a reputable place to buy vault bags full of silver you can go to 90% U.S. Silver Coins time im bought some stuff from this site and I have read 90% of post and all with positive results. But you pay over premium. I'm just here trying to help so don't murder me over this. Do your research.
    Actually, if you want to purchase pm's, there is a slightly cheaper place to do it and they are very reputable- GOLD BULLION COINS | American Silver Eagles | BUY SILVER BULLION ROUNDS & BARS
    In the land of the blind, the one eyed man is King.

    You can lead a horse to water but you can't make him drink it.

  15. #15
    us
    Jul 2011
    165
    32 times
    glad that worked out for you and thanks for the update

 

 

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