WARNING ! Presidential Coins! Uncirculated! $28? Yeah, right.

[jeff of pa]

NEW SCAM

The full-page newspaper ad (sometimes in magazines) proclaims the limited availability of “sealed vault tubes” of Presidential coins being sold (hurry!) for $28. Photos abound of golden coins (and with the price of real gold skyrocketing, it’s no wonder) in stacked plastic tubes sealed with tape marked “never circulated.”

The difficulty here is the 12 coins in the tube, plus the one “free” coin you can handle and pass around, are worth — A-HA! — $13…or a buck apiece.

The peddler of the coins, with the catchy seemingly official name of “World Reserve Monetary Exchange,” is an Ohio outfit that uses an age-old advertising method designed to lend legitimacy to an ad: make it look like a newspaper story.

http://blogs.denverpost.com/dollars...residential-coins-uncirculated-28-yeah-right/

 

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[djui5]

Oh I hate that outfit. My g-ma made the mistake of buying a few coins from them....

 

[Illinois Jeff]

They run an ad in the Chicago Sun-times almost every day. I am amazed how many people send out for these. I was recently asked by a CFO of a large company about these. he thought they were a steal until i told him the only theft would be from his wallet.

 

[bradyboy]

It never ceases to amaze me how people can bite for these "scams"
There are so many variations of this rip off that it makes my head spin.
Apparently, folks think that if theres a specail deal to be found in a reputable magazine it must be a good deal.
Also feel the same way about the home shopping networks on TV.
As long as folks buy into these scams, they will keep selling.
Its amazing that still to this day people are also buying into the Nigeria scams.
If we keep paying they will keep coming

 

[bradyboy]

very surprised there isn't more input on this subject

 

[Indiana James]

Unfortunately, a friend of mine fell victim to this kinda scam. He payed a little over 100 dollars for 52 Presidential dollars. In vacuum sealed tubes of course. What a complete ripoff. A pity.

James

 

[bradyboy]

Today, sunday newspaper
Parade magizine insert
Still available, but its the last chance, need to responds within 12 hours.
How is this legal?

 

[Zephyr]

If you want a roll of uncirculated ones, just go to your local bank and buy one. They'll be GLAD to get rid of those dollar coins.

 

[firecrest789]

They had one fore the last 5 state quarters, they stated free, when I called, they wanted a 197 release fee.

 

[Sky_Warrior]

yah i recently bought 3 presidential coin holders from them and payed for them to deliver me the coins as they came out. well all was going good until they charged me $400 for a charge that they wouldn't say what it was for so after my lawyer filed a law suit they settled for 2000 and payed my legal fees. put 1 win in my section.