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COIN LAWSUITS UNIVERSALLY DIRECTED AT COIN SELLERS
NOT COIN BUYERS

Often when gold coin collectors go to sell their gold coins and get a lowball offer they often universally blame, and may consider a complaint or coin lawsuit against, the coin business that sold them their rare coins and not against the rare coin company that may be making a low offer to buy their coins.
There are high profile hotel based coin buyers that take out full page advertisement stating they pay “top dollar” but in actuality may pay far less than reputable area coin dealers. In the past, some coin buyers may universally blame the numismatists at the retail coin business of fraudulent or scam pricing while knowing full well that in actuality they may be paying far less than the customer’s original dealer or other major dealers would pay.
To the point is a revealing in depth cover story titled “Treasure Hunters or Gold Diggers?” published by a prominent Southeast Texas publication The Examiner. News editor Jerry Jordan undertook a remarkable month long investigation that culminated in the definitive work on this subject.
Mr. Jordan thoroughly tests and analyzes the full page advertisement claims of a midwest based coin buying company that claims in full page newspaper ads to pay “top dollar” for gold and silver rare coins when they set up for business in local hotels.
Mr. Jordan asked for and received numismatic assistance from noted coin expert Mike Fuljenz of Beaumont, Texas. Mr. Fuljenz has won numerous Numismatic Literary Guild awards for his writings and taught grading and authentication seminars for the American Numismatic Association.
This well researched cover story cleverly uses a timeline to show how the “hotel coin buyers” in one city offered $640 for the same group of coins reputable major dealers offered $1,550. The story explains how two hours later in another nearby city hotel, the same company’s different representatives offered only $300 for the same coins. That’s less than twenty cents on the dollar compared to offers from reputable regional dealers and less than half what their own representatives offered earlier in the day in another city’s hotel according to the story.
The principle of caveat emptor, let the buyer beware, could be rewritten as let the seller beware when dealing with some traveling coin buyers rather than reputable market making dealers that are Better Business Bureau accredited. It is recommended to get a second opinion before selling your gold, silver or platinum coins.
A final point made elsewhere in the same publication is that unfortunately, coin lawsuits universally are not necessarily a viable option after you sell your coins too cheap unless you can prove you were a victim of criminal fraud which is not easy or inexpensive to prove.