SCOTT MCCLAINE, owner of CLATSOP COIN, was featured in the news lately on KATU’s “PROBLEM SOLVERS – ON YOUR SIDE” (http://tinyurl.com/bago coins).

Intrigued by an advertisement, CHERI BARNARD, bought a bag of supposedly valuable and collectible coins for $129 from The World Reserve Monetary Exchange. The company’s website touts Mary Ellen Withrow, retired 40th U.S. treasurer, as being an “executive advisor.” It all looks very official.

The problem arose when Cheri took the coins to Scott to be appraised. They are both pictured in still shots, courtesy of the KATU video.

“You've got some Mercury dimes – that's some nostalgia,” he noted. But there were mostly nickels, including three very worn buffalo heads. “I have seen a lot of nickels, but never in a $130 bag sold to someone,” Scott observed. “I think that's obscene." Especially since he estimates the whole shebang is worth about $30.

KATU discovered that the company that sold the coins is in trouble in several states, and would not return the TV station’s phone calls.

While KATU wasn’t able to solve Cheri’s problem, or get her money back, Scott was able to offer some sage advice: Bring this type of ad to your local coin shop for expert advice before buying anything. You could save yourself a lot of grief, not to mention money.

— Elleda Wilson

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