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Rare Coins Collection


Rare Coins Collection Scam: How It Works

Here is a scam that targets collectors of all kinds, especially money collectors. Let's say you are in a mall, parking lot, or in a popular place. Alternatively, you find an ad online.

As you are walking around the premises thinking about your day, you are approached by someone who is trying to sell you a beautifully arranged coin collection for, say, $100. That piques your interest as you might have found a small fortune. However, you're not feeling a good vibe about the seller as he seems agitated. Not to mention that you are not in a place that is a typical antique selling platform.

rare coins collection


Upon closer inspection, you notice that on the box holding the coins there is a name and a phone number (in very small letters), perhaps from a previous owner. You ask the seller whose name that is and he fumbles saying, unconvincingly: "Oh, he gave them to me".

The seller gives you a few minutes to inspect the coins and he even encourages you to search online for the real value of the coins.


Not wanting to buy stolen goods, you ask the seller to wait a few minutes. Thinking you're doing a smart thing, you call the number on the box and ask about the coins. But, surprise! The guy on the other end of the line is really appreciative; he tells you the coins were stolen from him and he will pay you a reward of $200 if you can return them.

This is when the scam happens. The owner and the seller are partners. You will pay the crook you just met $100 thinking that you'll get the money back - and then some - from the real owner. Except that the phone number is temporary and the coins are just useless fakes.


In the online alternative of the scam (ads on Craigslist, eBay, Oodle, Kijiji, etc), you see the name and phone number as well in the pictures featuring the collection.


Rare Coins Collection Scam: How It Works

Never buy anything from people who approach you on the street or parking lots.


Educate yourself with the videos below:


1. Top 5 Amazon Scams in 2020


2. Top 5 PayPal Scams in 2020


3. The Nigerian Scam [Docu-Drama]

This movie shows how a victim lost over $30,000 to an intricate scheme which is still around years later.

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