Author Topic: UK commemorative themes for 2016  (Read 30848 times)

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Offline eurocoin

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Re: UK commemorative themes for 2016
« Reply #195 on: July 02, 2020, 09:33:53 PM »
I know what was behind this. The seller was a young man who was advertising his eBay listing on several Facebook coin groups. He nagged for people to bid on it as he needed a new bike and said his coin was very rare. The starting bid on the listing was 1,500 pounds. Collectors on the groups do not like this kind of behaviour. To ridicule him and his listing people started to bid on it. The winning bidder, an acquiantance of mine, of course has no intentions whatsoever to pay for it.

Subsequently the media picked the story up and while they are factually right that it sold for that, these kind of news articles are still very bad. I do not at all understand why Alexandra Fiddons of Change Checker did not tell the media that this can never be true. She must have known.

In other cases in which coins sold for more than they were worth, there were other reasons for it. It is indeed thought that occasionally money laundering happens. Furthermore there are people who have been bidding up all listings of the Hercules coins for example as a kind of protest against the prices people ask for them directly after their release. Again without any intention of ever paying. Lastly it is thought that there have been cases where people have tried to drive up the prices of certain coins by making numerous eBay accounts, listing the exact same coin and letting these accounts win each other's auctions in the hope that people will notice the high prices for which the coins 'sold' and will start to advertise their coins too for the high price.
« Last Edit: July 02, 2020, 10:44:06 PM by eurocoin »