Prepaying for coins put dollars at risk

[Arizona Coin Collector]

FROM:
http://www.pressofatlanticcity.com/106/story/285564.html

Prepaying for coins put dollars at risk

Published: Wednesday, October 15, 2008

Dear Consumer Action:

When a colorized state quarter program was offered years ago,
I prepaid for the entire 10-year set. The supplier has
changed over the years, but I was able to get the coins
through 2006, most recently from National Consumer Marketing
of Central Islip, N.Y.

I have not received the 2007 set, and the phone number for
National Consumer Marketing is no longer working. - R.N.,
Mays Landing

On Aug. 30, 2007, creditors of National Consumer Marketing
filed a petition to force the firm into involuntary
bankruptcy, according to its Better Business Bureau, or
BBB, report.

The report goes on to say the company's order-processing
vendor has ceased all processing and customer service
requests, and indicated the company has ceased all
processing as well.

For further information, consumers can contact the United
States Bankruptcy Court, Southern District of New York,
at 212-668-2870. The case number is 07-12781-reg,
according to the BBB.

Consumers told the BBB that National Consumer Marketing,
also known as the American Historical Society, used
aggressive sales tactics to encourage consumers to buy
extra products when consumers called to order advertised
free coins for a $4.95 shipping and handling fee.
Consumers also said their credit cards and checking
accounts were debited for the refused items by National
Consumer Marketing, without their approval.

Colorized versions of U.S. coins are available from many
companies. None have any affiliation with the U.S.
government or U.S. Mint.

It's never a good idea to prepay for items, especially
when you must rely on a company to stay in business for
10 years in order to fulfill its obligation to you.

....