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So why can't the people on Ebay just buy them from the mint like you did?
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Because people that bought them up are only releasing them a little at a time since there are so many that play into the "limited edition" hype. Hell, I can resell regular silver bullion for a small profit from the souces I get it from. Back in 2008, silver dropped from $20 to like $9 when everything else in the markets crashed as well. Silver was still being bought near $20 on ebay, though. People are dumb and lazy. They shop at Wal-Mart, Amazon and ebay because they're one-stop places. They pay more for it.Originally posted by ZYouL8R View PostComment
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They are morons... simple as that. You have to get in at the right time though because the distributors sell out fast.Originally posted by ZYouL8R View PostComment
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All that glitters is not gold - or silver
A coin commemorating the 10th anniversary of the Sept. 11, 2001, terror attacks is drawing the ire of consumers and politicians who have learned that the coin may be just a worthless trinket that has no affiliation with the U.S. government and does not benefit the 9/11 Memorial.
Katie Smith and John Shughart of Carlisle, Pa., thought they were buying a priceless piece of history. Now, the coin they bought may have not even a cent of value.
"I think it's a complete rip-off," says Smith. "It's a scam."
The couple called a 1-800 number and ordered a 9/11 Tenth Anniversary Commemorative Coin after seeing a commercial on TV. The commercial claims the coin has "sculptures of the USS New York and the World Trade Center towers, inset with jeweler precision on its obverse, each entirely clad in .999 pure silver actually recovered from beneath the ashes of ground zero."
Smith and Shughart thought the coin was sanctioned by the U.S. government. They thought they could help rebuild the World Trade Center for the low, low price of just $29.95. Turns out, none of that is true. To add insult to injury, Shughart was charged more than $370 for 6 extra coins and display cases he never ordered. Because the general contractor used his debit card, the money was taken right out of his bank account by a company called The National Collector's Mint.
Front view of 9/11 coin.
Shugart family holding up 9/11 coin.
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Suspicious, Smith and Shughart filed a complaint with the Better Business Bureau and found out they were not alone.
The Better Business Bureau gives The National Collector's Mint an "F" rating for various complaints about the company's selling and billing practices and its 9/11 Tenth Anniversary Coin.
"It's nothing more than worthless bric-a-brac that has no value and no connection to the 9/11 memorial or the federal government. But you wouldn't know it by watching their commercial," says New York Sen. Charles Schumer (D).
In a press conference, Schumer and New York Rep. Jerrold Nadler (D) called on the Federal Trade Commission to shut down The National Collector's Mint.
FTC Chairman Jon Leibowitz acknowledges the accusations, but so far is stopping short of a full-blown investigation. "We agree that these allegations are enormously troubling, and will determine what action by this agency may be appropriate," Leibowitz said in a statement.
The National Collector's Mint is based in Port Chester, N.Y. The president and CEO is Avram Freedberg, who coin appraisers say is pocketing considerable change from that $29.95.
Kevin Shary of Gold Mine Appraisals in Mechanicsburg, Pa., says based on the medallion's precious metal content, it's worth roughly 25 cents. "There is maybe an ounce of silver and copper there, that's maybe what? A quarter?" says Shary, "It might be worth a quarter."
Profits from the sale of those coins help pay for Freedberg's seven-bedroom house in Stamford, Conn., and a racehorse which he blogs about on his website. Freedberg also once marketed the as-seen-on-TV product, "The Original BeDazzler".
Through his PR company, Freedberg refused to do an interview with Fox News or provide proof that he bought the silver used in the coins from a bank that stored silver bars in vaults below the World Trade Center, as he has claimed. However, Freedberg is standing by his product, saying in a statement:
"The Company's television commercials accurately and completely describe the commemorative medallions being offered for sale."
Schumer accuses the company of diverting money that could be spent on the official 9/11 memorial and museum. "Every dollar spent on these fraudulent coins is $2 lost that could have gone to honor those who put everything on the line for this country."
On his website, Freedberg claims he has given $2,000,000 dollars in donations to various 9/11 charities. He did once give $30,000 to the memorial fund. However, Joe Daniels, 9/11 Memorial president, gave the check back citing the fact that the company was charged with fraud and fined over its similar "Freedom Tower Silver Dollars" back in 2004.
"We returned the money right away," says Daniels, "and said: 'You guys have been investigated. You're using false claims. You're talking about metal that was reclaimed at ground zero, which is not true.'"
Daniels says if people want to help, they will soon be able to buy an official 9/11 commemorative medal, sanctioned by the U.S. government, a project that is going forward thanks to legislation proposed by Schumer and Nadler and signed by President Obama last summer.
"Dollars from the purchase of that medal will, in fact, go to help build the memorial and museum here at the World Trade Center site," Daniels says.
The U.S. Mint is expected to release the medal this summer, just ahead of the 10th anniversary of the terror attacks. Meanwhile, The Mint is issuing a warning about the National Collector's Mint coins, which are still for sale on TV and online.
Smith and Shughart plan to buy one of the official medals from the U.S. Mint. They have returned all of the National Collector's Mint coins and are expecting the company to give them a full refund.
"I would just like to give them all their crap back," says Shughart. "And get my money back."Comment
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I want 137 of them, that's right $137!! Sell them to me now, I will give you $75 each.Originally posted by Roscoe View PostI have one of those cool coins that has the world trade center insert that can stand up on the coin itself if you're interested....
I won't even charge you sales tax, and a BARGAIN at $49.95ea plus shipping and handling.
Now just wait and see who else wants them...Originally posted by racrguyOriginally posted by racrguyComment
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they are still holding strong. Been watching them in my list over the last couple days
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when do you think they will post more for sale?Originally posted by 8mpg View PostAmerica the Beautiful Silver Coins are on sale from here:
Its $975 shipped from the mint to your door. Ebay is selling them all day long for $1650+....subtract out 10% for fees and shipping and you are looking at $510 profit. The coins could sell for more, a few have bids over $1800Comment
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That just blows my mind people are buying 25oz of silver while it is only $30 per oz right now. LOL
On another note, you can't touch an ounce in the UK for under $45USD anymore. Shipping any, you'll get screwed with a VAT tax, so people are taking advantage of physical face to face.Comment
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think they are sold out.
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They ended up selling out a couple hours after I posted them.Originally posted by 03mustangdude View PostComment
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