Kyzivat Currency

(Q&A)/Market Commentary

Latest eBay SCAMS!!

It seems that there is no end to the scams that are being run on eBay. Talking to several friends at a show over the weekend, we were made aware of several scams and want to let our customers and friends know about them. Perhaps you have already seen them!

SCAM #1 - bidder renigs, now you can buy! You receive an email stating that the top bidder or bidders have reniged on their bids and you, as the underbidder, can now purchase the note. They request that you send them the money and they will send the note. Guess what? There is no note and they were not the seller! Be wary of this situation and be sure to check with the real seller before sending any money.

SCAM #2 - selling other dealers notes! Scans are being appropriated from web sites, auction listings, etc. and are being offered and represented as legitimate notes. While it will be harder to detect these notes, those who have a significant presence on eBay may well recognize notes that they have seen before. The best way to counter this is to deal with well known dealers. Check feedback very carefully and do extra checking if a significant note is being offered.

SCAM #3 - NO RETURNS ALLOWED! In my mind, stay away!! A reputable dealer or seller will allow returns. While you can sometimes review what you are buying by a close examination of the scan, what about notes like Obsoletes and Fractionals that have no serial#? Put up a CU note, send a VF - what do you do? This is a situation to be investigated much further before bidding - or just stay away! No reputable person sells as is!

We are sure that there are more scams out there. If you are aware of others, please let us know so we can pass them along. The best buyer is an EDUCATED buyer!