• Report: #801599

Complaint Review: Littleton Coin Co

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  • Submitted: Thu, November 24, 2011
  • Updated: Tue, May 01, 2012

  • Reported By: electric88 — North Las Vegas Nevada United States of America
Littleton Coin Co
1309 Mt. Eustis Road Littleton, New Hampshire United States of America

Littleton Coin Co Over charging for sub standard, graded coins, and proofs by over 255.5789% above actual value Littleton, New Hampshire

*Author of original report: You did, Mr. Coast.

*Consumer Comment: no bounds

*Consumer Comment: Who called you that?

*Author of original report: response to the JERK at COAST-(USA)

*UPDATE Employee: Response from Littleton- We will help you resolve this

*Consumer Comment: Research before buying

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I had Been buying coins and paper currency from Littleton Coin Company for over 5 years before I found out that I had been ripped off and cheated.  I spent over $4000.00 on hard to find coins and paper money, thinking that I was putting together a good collection that would be worth something when I was done.  A lot of the hard to get coins came in A/C grade (average circulated ), but most of the coins I ordered were supposedly good ( G ) to choice proof ( PR63 ) according to their grading standards.  One of the sets of coins that I put together was the Philadelphia uncirculated American Eagle coins.

This set cost me over $3000.00 to put together piece by piece, and each coin was supposedly a choice uncirculated MS63 coin.  All the coins they send come in plastic bags not containers, so are subject to the mail handling and shipping.  I found out that I had been cheated when I took my collection to get it appraised for insurance purposes, it cost me $200.00 to find out that I had paid $4934.75 for a bunch of junk that was only worth $1822.31 actual real value.  I asked the appraiser why such a low value, he said that because they came in bags and not in cases and were not graded by a coin grading service wit a certification  that they were basically no better than pocket change in value.  Also every coin that I had whether it was choice uncirculated or choice proof all had marks and damage on them from the way the coins were shipped to me.

Even the proofs had damage and marks, these are coins that are supposed to be untouched by human hands and are supposedly worth more than all other coins because of this fact.  The price that they are charging is just over 255.789% mark up on the actual value of these coins, which equals roughly the value of coins that have been graded by a service with a certification and at least 3 grades higher and encapsulated in a holder with no damage.  In other words they are selling a coin graded good by them for the price of a certified graded and slabbed coin in a very fine grade from a service.  Example: I paid $196.00 for a 96 American Eagle in MS63 condition, and found out that the highest price retail for that same coin had NEVER been higher than $52.00 in any coin shop.  Does this give you a clue as to how crooked this company is?

This report was posted on Ripoff Report on 11/24/2011 09:50 PM and is a permanent record located here: http://www.ripoffreport.com/r/Littleton-Coin-Co/Littleton-New-Hampshire-03561/Littleton-Coin-Co-Over-charging-for-sub-standard-graded-coins-and-proofs-by-over-25557-801599. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
2Author 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

You did, Mr. Coast.

AUTHOR: electric88 - (United States of America)

You did!

"You clearly have no idea what you are doing. Coin collectors view coins with a magnifying glass."

Insinuating that I am stupid.

and,

"Incorrect. The highest price paid was $196.00."

Insinuating that I am ignorant too.

With this in the text and written in such a smart ass manor how do you expect me to answer?

I work on electronic circuit boards, so yes I do know what a magnifying glass is and how to use it.
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#2 Consumer Comment

no bounds

AUTHOR: voiceofreason - (United States of America)

The sense of entitlement and arrogance that so many "wronged" "victims" come to this site with is astounding.

I understand the frustration of the coin collector here, but that vitriolic attack on Coast was utterly beyond the pale. Attacking someone who merely suggests your take on the matter might be flawed, with the ferocity with which you did, just makes you look like a loonie, and shreds your credibility.

Small wonder you got "ripped off", if one can really call it that. You probably take an arrogant approach to everything you do, figuring you know it all.

Maybe the appraiser lowballed you. Did that possibility occur to you?

Maybe the mark up you paid represented retail and the appraisal is based on wholesale.

Anyone buying such things site unseen via mail order takes a calculated risk.

And the company offered here to try and work the issues out. Did you have further dealings with them regarding this?

I remember Littleton from decades back as a young stamp collector. If nothing else, thanks for the memories. And if your of a mind to now insist we both work for them, please, when you do follow up with their resolution offer, please remind them that Coast and I are eagerly waiting for our paychecks.
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#3 Consumer Comment

Who called you that?

AUTHOR: coast - (USA)

"have a lot of nerve calling me stupid and ignorant"

Who called you stupid and ignorant?
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#4 Author of original report

response to the JERK at COAST-(USA)

AUTHOR: electric88 - (United States of America)

For your information, JERK at COAST- (USA). I am not a stupid person and at the time I was buying from them I had no reason to question the quality or value of the product received from them. I DID examine each and every coin before purchase with a magnifying glass and did not see any damage that stood out. I am not a coin grading expert, that being said have no schooling in what ALL the specific variations are in the grading system. As far as I could tell they were all in good shape, as to some with marks being attributed to BAG marks on the uncirculated coins.

As for buying for over 5 years before having any of them checked out or regraded, I had no reason to question a company that has been doing this for so long. The reason that prompted me to get them appraised was that we had several break ins in my neighborhood and was advised to have the collection valued for insurance purposes. This is when I took the collection, and ALL the receipts for the amounts paid for them to a reputable coin dealer with a ANACS certification to have them evaluated.

NOW all that said, YOU who don't know me from Adam, have a lot of nerve calling me stupid and ignorant.  And further more you should keep your snotty low life opinions to yourself. NOBODY  likes a JERK!!!
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#5 UPDATE Employee

Response from Littleton- We will help you resolve this

AUTHOR: Rose Crosby - (United States of America)

Dear electric88,

  We are truly sorry that you are not pleased with your experience with Littleton and would like the opportunity to help you with the situation you described. Of highest concern is the appraisal you have received for your collection. It appears to only apply face value to coins that are not certified by a third party grading service. In fact, the vast majority of collectible coins are not certified which is why so many collectors rely on well-known expert dealers like Littleton. In addition, the damage marks you note may be bag marks which are not uncommon in Uncirculated coins and are easily identified by coin dealers.  I highly recommend you get additional appraisals on your collection. Our experts would be glad to review your collection and provide the price wed offer you or to recommend a reputable 3rd party dealer who is an expert in the industry. 

As a long standing customer, I hope you can regain your trust in our service. Weve worked with millions of collectors since 1945 and have an A+ rating with the Better Business Bureau. Our veteran coin buying and grading experts have over 100 years of combined experience and are members of the American Numismatic Association and Professional Numismatists Guild. They carefully inspect each coin before making it available to our collectors.

Please give us the opportunity to help you with your situation by calling me directly at 1-800-645-3122, extension 506 (Monday-Friday, 7:30 a.m. 5:00 p.m. ET) or by emailing me at rcrosby@littletoncoin.com. Please indicate your screen name electric88 so I will be able to identify you and address your specific concerns.  I hope to help you resolve this!

Thank you,
Rose Crosby, Manager of Customer Service
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#6 Consumer Comment

Research before buying

AUTHOR: coast - (USA)

You clearly have no idea what you are doing. Coin collectors view coins with a magnifying glass. You should have seen the damage on the first proof you bought. You should have had some of the coins appraised before you continued to buy from them over a five-year period.

"I paid $196.00 for a 96 American Eagle in MS63 condition, and found out that the highest price retail for that same coin had NEVER been higher than $52.00 in any coin shop."

Incorrect. The highest price paid was $196.00.
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