Are these Eisenhowers a rip off or not?

[swantek]

Is this Bradford coin a rip off to the actual buyer at Bradford. A feller gave it to me. He told me he was giving me a silver Ike for doing some computer work for him. After receiving this coin I realize right away the D mint mark telling me um no dice. Obviously when he order from the Bradford company he didn't know what he was buying. He then told me he paid over 60 bucks for this coin. What's the math here. It definitely doesn't look uncirculated, way to many scratches and blemishes to the naked eye. Maybe one of you coin experts can fill me in what I am missing here.

 

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[l.cutler]

You're not missing anything, you are right on the money about it being a rip off. It is about a $5 coin.

 

[swantek]

Then I see they want 100 bucks for a silver last proof haha

 

[mercury1]

Bradford exchange doesn't have a lot of customers on TN. Probably none.

 

[sagittarius98]

Those scratches could be bag marks, allowing it to still be UNC, but it would only be worth a few dollars.

 

[Generic_Lad]

Yes, it is a rip-off.

There's a bunch of so called "coin dealers" basically running scams, they lie about grading, either flat-out (selling AU coins as BU, etc.) or by deception (have a picture of a nice BU coin but only in the fine print does it say that the coin only grades as good). Some sell coins in "slabs" like the one you posted but ones that look on the surface like a true TPGed coin, but aren't. Still others just are just overpriced (for example a set of Kennedy half dollars packaged up nicely from 1964-1994 selling for $175 in circulated condition simply because its in a nice box, when you can get the '64 for $10 or so, $5 or less for the 1965-1970, and find the rest in circulation for 50 cents) .

It really amazes me that there are people that continue to buy from these places, considering you can buy the same thing on eBay or at a local coin shop for MUCH cheaper.

 

[swantek]

I informed him on the situation and told him before buying coins in the future contact me. I feel fairly knowledgeable on most American silver. I also instructed him to coinflation.com to see the silver melt values and to get any info on each coin.

 

[swantek]

Oh is it worth any more in that slab and being authentic. To me it don't seem so.

 

[coinguy*matthew]

Lol yes definitely a rip off, AU slider that discolored area to the left of Ikes ear is not annealing or bag marks thats genuine wear or damage however you want to call it. It probably left the mint that way though the treatment of these coins at the mint was horrible, they were annealed in an annealing drum for two hours bumping and scraping across each other in a soften state. The coining press also was not up to par and many suffered from weak strikes resulting in lots of hairline chatter remaining near the rims. If all that isnt enough they were run through sorters and coin counters before ever being packaged up for the public. A well struck gem Ike is a true conditional rarity and an undervalued series for sure....

 

[sagittarius98]

Oh is it worth any more in that slab and being authentic. To me it don't seem so.

No extra value. Break it out of the slab and spend it.

 

[swantek]

Ok, well no harm then, I collect all the bicentennial for fun.

 

[coinguy*matthew]

Ok, well no harm then, I collect all the bicentennial for fun.

Certainly meant no harm just being honest and that is what is best so you do not think you have something you do not. It pays to be well informed.....

P.S. i like bicentennial's too.....

PCGS PR67CAM

 

[Mzjavert]

Ouch, sorry he was ripped off. At least I only lost $2.75 on my first "well slap a MS-70 on anything grading service" slabbed coin. Oh well I bought a ton of great old silver at that auction.

 

[swantek]

Probably didn't get ripped off too bad. This was his first purchase thru these coin services. He had a laptop repaired by me 60 bucks. I charge him nothing for letting me have rights to MD on his property and I ended up with the coin. Plus he got what knowledge I know of coins so this should not happen again for him.