quick question

I got an offer in the mail from Bradford exchange mint just want to know are they a scam? Or are they legit and worth doing business with?

 

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Bradford Mint is not a scam but their prices are outrageous. They are much like the hawkers on TV selling common Morgan dollars in Fine condition for $100.00. Please avoid them, you can do a lot better at your local dealer or Ebay.

 

I don't have any local dealers close to me. I usually have to travel an hour or so away that's what sucks

 

But...you have...Internet access...

 

Yes I do

 

I've already bought stuff online before I was just asking about this if it was worth it

 

I understand asking for previous buyer experiences. No issues with that.

I'm also saying you can see what this company's prices are like and compare them to other online sources. The magic of the Interwebs!

I went in to Menard's today for a replacement light bulb. While I was there, I was looking at some LED spot lights that I'm considering to give a try (to see if they'll help improve my coin photography.) Menards wanted $24 for each bulb...Amazon says $16. Took less than 30 seconds.

You, too, have this power...

 

HERE is an example of a product they are selling ("The Complete US Peace Silver Dollar Coin Collection")

There are SO many issues with this listing, but I'm bored, so why not:

*They use the word "complete" and say the collection is from 1922-1928, 34, 35...yet a complete Peace Dollar collection would include the 1921 (one of the keys)

*They also use the word "rare" - and yet fail to state that you will receive the two rarest Peace dollars (1921 and 1928 P). Nothing about any of the other Peace dollars is rare.

*There are two Peace dollars that normally will be worth more than the rest: 1921 and 1928 P. The 1921 isn't included. If you read the description, at no point does it say that you will get a 1928 P...it says:

• "Issue One - 1922 Peace Silver Dollar," will be followed by "Issue Two - the FREE display case," "Issue Three - 1923 Peace Silver Dollar," "Issue Four - 1924 Peace Silver Dollar," "Issue Five - 1925 Peace Silver Dollar," and additional collectible U.S. silver dollars, as they become available

So, we have 4 of the most common Peace dollars at $80 each...and then the rest "as they become available." Is there a single person in this forum who would ever believe you'll get a 1928 P as it comes available? No. And notice how they say "additional collectible US silver dollars" - anyone else think you'll start getting beat up Morgans and Ikes, too?

BUT...

*They charge you $69.99 per silver dollar PLUS $9.99 S/H for EACH COIN. That's $80. For coins you can easily find for less than $25, many times closer to $20 each. Multiply this times at least 9, because they can ship you a 1928 S for the year 1928. Again, a common coin. If they also decide to send you each year/mm except the 1928, you're looking at 22 coins...$1,760. And these coins could be the nastiest of the nasty because...

*They never mention condition. You could get cleaned, worn, damaged coins that are basically worth silver melt ($12.70 at the time of posting.) For $80 each.

*The wooden display box is a $70 value. Anyone think that's a $70 value? Anyone? No, didn't think so.

*You never get to see the coins until you've paid for them. This is a huge no-no unless you're buying from a dealer you trust.

Okay, I have a feeling that at this point, you're thinking I'm criticizing you, and not this company. This is not the case, if you've read this far...

Companies like this buy junk coins, put them in fancy holders, print out a worthless COA or assign an unrealistic grade (MS70 for a clearly VF DETAILS coin), and then try to tack on as many fees as they can. I see junk coins like this all the time...because people bring them to my boss, or to the coin shop, to sell, thinking they will get anywhere near their investment back. They prey on the elderly, the uninformed, and the lazy.

*"Once in a lifetime opportunity" - yet eBay can show us that these sort of opportunities can happen on a second to second basis.

Based on this one listing, what do you now think about the Bradford Exchange?

 

Junk and a waste of money. thanks for the help never thought you were criticizing me I know you are helping and it is very much appreciated

 

Really in they're own little way they are a scam.telling people they are getting something nice and selling junk a charging out the A** for it

 

I'm glad you don't think I was ranting on you. I just HATE the disappointed looks on people's faces when they bring this stuff in expecting to recoup all the money they've thrown down the toilet.

Someone left this feedback on Amazon for a 3-coin silver dollar set (for $249!!!)

"The brand Bradford Exchange is me just say the coins look nothing like picture. Coins were tarnished and scratched. The protective capsule was even chipped. The only thing nice was the box. Very disappointed in coin quality.

Update: company rectified situation by providing 20% refund since I kept coins. Will order from them again."​

Notice how they sent them an American Silver Eagle. These you can buy at about a billion places for a few dollars over spot...and this person paid $83.33 for it. And then left them a 4-star feedback.

 

Consumer Affairs gives them a 1-star rating out of 119 ratings.

Again, see how helpful a quick Google search can be? Although we do appreciate you asking other coin enthusiasts for help

 

Just for fun: You can buy a 1973 S 40% silver Ike dollar from Bradford Exchange for **ONLY** $129.00 (plus $9 shipping) HERE on Amazon.

"A once-in-a-lifetime commemorative coin collecting opportunity, full of historical significance and potential value"

Okay, I'm done for the evening. Hopefully everyone got a good laugh over this...

 

Again thanks for the help a lot of good info

 

Am I to understand that you don't think this is a good deal?

Chris

 

Not a scam, but you will never get your money back by way of the item being of the value you paid, so it has to be something you really want and can't get elsewhere

 

If you read down into the Consumer Affairs complaints (which I was bored enough to do last night) you'll see that they have been known to send unsolicited junk coins to people claiming they'd already been paid for, trying to get them to buy more. To me, that sounds an awful lot like a scam...

Also, being intentionally vague about exactly what a customer is buying...picturing high end coins and sending junk...again, sounds like a scam.

 

Good write up! I received the same offer in the mail and the only reason I did not say "scam" was to protect myself. This company and so many others walk a very fine legal line and are always in a gray area. There is also a certain New Hampshire company that I bought from when I was young. Although I have the utmost respect for the owner, their coins also, are way overpriced and would also be a disappointment somewhere down the line when going to sell your coins. They do well in grading but why would I pay $5.00 for a common date Buffalo nickel in fine condition? Or $8.00 for a common date Mercury dime in Very Good? The teaser flyers they send out are the only good deal they offer. They do make a nice quality coin album of which I have many, along with my Dansco's but I would not buy them at full retail from them either when I can get them online for 25% off shipped free.

 

And says he plans to throw more money away, I mean plans to buy from them again. This person or one of his family members will one day be the one bringing these "treasures" into a coin shop to learn he can get back pennies on the dollar for them.

 

Here's another good example of what NOT to buy. Forever damaged & defaced by the glue in the stickers. These sell for $20.00 plus shipping, when someone could have purchased a nice Peace Dollar in circulated condition for the same amount or close. On the other hand, if these had been truly hand painted I might have purchased as a gift for someone as each would have been a unique piece of art.