• Report: #278492

Complaint Review: Eastern Numismatics, Inc. Also Uscoins.com

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  • Submitted: Thu, October 11, 2007
  • Updated: Wed, October 15, 2008

  • Reported By:Fort Wayne Indiana
Eastern Numismatics, Inc. Also Uscoins.com
642 Franklin Ave. Garden City, NY Garden City, New York U.S.A.

Eastern Numismatics, Inc. Also Uscoins.com false advertising, internet fraud, e-commerce violations Garden City New York

*UPDATE Employee: William from Ft Wayne CAN NOT Read or Follow Instructions!

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On 10-4-2007 I purchased a gold coin from Eastern Numismatics using their web-site. I keyed in all of my personal information including e-mail address, credit card number, expiration, as their web-site had instructed. The total cost of the coin was $800.00 plus $12.00 shipping. I received my confirmation number, status-authorized, and payment method visa for $812.00.

The following day, 10-5-2007 I was contacted at home by a "Loretta" 1-800-835-0008 ex#2460 to let me know that Eastern Numismatics was refusing to honor my completed transaction because 1. The selling price was too close to their actual cost 2. Their company has to pay their credit card company processing costs. 3. They told me I could have the merchandise if I mailed them a personal check out-of-state for the full amount.

I had never done business with this company before, and I was not going to mail a personal check for over $800.00 and hope the coin arrived sometime in the future. I guess the request was to avoid the credit card company processing costs.

I told Loretta's supervisor that I expected him to honor the price that I was quoted, and to except full payment by the method that their web-site instructed me to pay with.

They did invite me to purchase any of their higher prices coins. The old, "Bait and Switch," or "Lost Leader" techniques are still being applied to the US consumer. PS The coin is still on their web-site for the same amount 1-week later, and I'll bet they request a credit card payment!!!

Fort Wayne, Indiana

This report was posted on Ripoff Report on 10/11/2007 05:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/Eastern-Numismatics-Inc-Also-Uscoinscom/Garden-City-New-York-11530/Eastern-Numismatics-Inc-Also-Uscoinscom-false-advertising-internet-fraud-e-commerce-278492. 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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Updates & Rebuttals

#1 UPDATE Employee

William from Ft Wayne CAN NOT Read or Follow Instructions!

AUTHOR: Joseph Parrella - (U.S.A.)

William did not read the instructions that are clearly stated on the web site for ordering gold bullion coins. It states that Eastern Numismatics will not accept credit cards as payment for gold bullion coins over the internet. Due to the volitility of gold we simply can not sell 1-ounce gold coins competatively 24/7 over the internet. We list the coins we offer to clients and they are invited to call and place an order during business hours. This is standard throughout the coin industry as anyone with experience buying coins will know.

In this specific case William's credit card was never charged. He was given the courtesy of a phone call in which our customer service rep, Loretta personally explained the company policy to him. He was also given the option of sending in a check payment for the coin in question, at the amount quoted on the web site.

That this incident is categorized as a ripoff is a gross overstatement of the circumstances. There was no harm done nor was there any attempt at doing harm. In fact a case can be made whereby the comapny, Eastern Numismatics is the victim. In addition it is the ripoff report that has become the predator. By encouraging comments from ignorant consumers like William that are not factually checked out (unlike say the Better Business Bureau) you and your report site do all companies that work with consumers a disservice.
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