Wednesday, September 01, 2010

Unsolicited Calls from Liberty Gold Trying to Sell You So-Called Rare Coins: Scam or Legit?

It comes up on the caller-id as simply "Out of Area." If you don't answer, they call back . . . up to 5 times a day . . . EVERY DAY!  They eventually wear you down and you have no choice but to answer.

When you do finally answer you get the sales pitch.

"Hey John, this is your pal so-and-so at Liberty Gold. I've got a great deal on Morgan dollars that you've got to hear about."

Or the deal might be gold eagles or some other spectacular hoard that they were able to acquire. And they don't like to take "no" for an answer.

When they finally realize you aren't falling for their sales pitch, they quickly hang up before you can tell them to take your name off their list. There's no "Good bye" or "Thanks for your time" . . . just a cold, sharp click.

A few weeks later, and the phone begins to ring again. One look at the caller-id and your blood pressure begins to rise.

"Out of Area!"

A Plea for Help

I have a friend that this has been happening to and he's asked me for my help in making it stop. You see, he's never done business with anyone named Liberty Gold. In fact, he's only done business with a couple of well known and respected coin dealers . . . ever! These are dealers that protect their client list and are not likely to sell his name to a company like Liberty Gold.

This week the calls started again. It had been at least two weeks since the last call where they hung up on him before he could tell them to take his name off of the list. But this time he was ready for them.

"Hello?"

"Hi, can I speak to John?"

"This is John."

"Hi John, this is your pal so-and-so from Liberty Gold . . ."

As soon as he heard the name Liberty Gold, he stopped them right away.

"Excuse me, can you please take . . ." 

CLICK

That was all he managed to say before the click cut him off in mid-sentence.

The Mysterious Liberty Gold

So my friend wants my help in getting the calls to stop, but all he has is the name Liberty Gold. A quick look at the Better Business Bureau comes up with at least 3 different companies that might be this Liberty Gold, one in Chicago, one in New York, and the last in Oklahoma. But which one is it? Or is it someone else?

There is a law that limits the number of times a company can call you once you've asked them to stop. But what if they never let you complete the request like Liberty Gold?

Unfortunately, I haven't been much help to my friend since I am not familiar with this company. They are as much a mystery to me as they are to him.  If there is one piece of advice I can give to people getting these unsolicited calls to buy coins it would be, "Don't buy the coins unless it's a dealer you already know and trust!"

5 Comments:

At 11:28 AM, Anonymous Monterey Company Blog said...

The other thing to do, which becomes a game really, is cut your demand for them to stop down to as few words as possible. So rather then say, "Excuse me, can you..." The minute you hear Liberty Gold, with no courtesy, simply and sternly say, Take me off list. or Stop Calling!" I find intrusive scam artists and sales people like this so incredibly frustrating.

 
At 1:15 PM, Blogger A.C. Dwyer said...

Since I wrote this post, my friend says that he hasn't had a single call from Liberty Gold. The calls have stopped for the time being.

However, almost immediately he started getting calls from Sunrise Numismatics which he's never heard of or done business with before. It went straight from Liberty Gold to Sunrise Numismatics with a day or two in-between.

Could Sunrise be affiliated with Liberty Gold?

Stuff like this makes you leery about the hidden 1099 rules in the recent Healthcare legislation affecting coin dealers. Do you really want these guys to have your Social Security number?

 
At 2:56 PM, Anonymous Coin Auction said...

Buying coins from these "brokers" will get your phone ringing off the hook. Don't do it, they are the "used car salesmen" of the coin world.
Coin Auction

 
At 6:17 AM, Anonymous Anonymous said...

I HAVE DONE A BUNCH OF MONEY WITH SUNRISE NUMISMATIC, SHOULD A RED FLAG GO UP? E MAIL ME IF I SHOULD BE CONCERNED.

 
At 11:12 AM, Blogger A.C. Dwyer said...

For me, Sunrise Numismatics is a HUGE red flag for the following reasons:

1) Sunrise Numismatics is the same company as NYCOINMART on ebay. Click here for what little information there is on Sunrise Numismatics.

Although NYCOINMART is an ebay powerseller, check out their "About Us" webpage and take a look at their building. Here’s another webpage with a larger view of their supposed location.

Then take a look at a picture of their actual location here. They list their address as "94 Gardener Ave., Suite 337 or 391." It appears their suites are nothing more than a mailbox at a UPS store. A far cry from the office building they put on their webpages.

Sunrise Numismatics has a different address listed than NYCOINMART. Want to see Suite 57 on Sunrise Hwy? Click here.

I have a problem with any company that misrepresents who they are. The fake building versus a UPS Store mailbox is enough to make me do business somewhere else.

2) Sunrise Numismatics claims to be a NGC and PCGS member but they are not listed on their authorized dealers lists for NY. NYCOINMART is not on their lists either. They also claim to be a member of the Certified Coin Exchange (CCE). UA America is listed as a CCE member using the NYCOINMART address with Kevin McNerney as the owner. But even that may not be accurate anymore. See #3 below for his connection to all this.

Most importantly, they are not a member of the PNG.

3) They tend to sell a lot of PCI graded and slabbed coins. There are plenty of online forums where collectors complain that when they try to crossover PCI coins at PCGS or NGC, they come back with either a lower grade, or as a problem coin. I’ve seen forums also discussing that PCI was bought by the owner of NYCOINMART. If true, that is a huge conflict of interest that you won’t find at PCGS or NGC. However I’ve also seen a supposed message from the owner of UA America who states he no longer owns NYCOINMART and is in the process of selling PCI. So the truth just gets murkier.

Whatever the truth, do you want to do business with these guys?

 

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