Collectible coins or a bag of lies?

Collectible coins or a bag of lies? »Play Video
KATU photo.

PORTLAND, Ore. - You may have seen the full-page advertisements in the newspaper or online - national companies offering up coins and bills they say are collectibles.

But what are you really getting for your money?

Cherie Barnard thought she found a treasure in a bag of coins that she purchased after seeing one of those types of advertisements. She paid $129 to World Reserve Monetary Exchange for a bag of coins that were supposed to be scarce and highly collectible.

But when Barnard brought the coins to Clatsop Coin in Astoria, she learned the truth - that her bag contained mostly coins that you can get from the bank. Sure, there were a few old Buffalo head nickles in the bag, but according to the coin shop's owner, Scott McClaine, the total worth of the entire bag of coins was only around $30.

We took a closer look at the World Reserve Monetary Exchange company and found that they have been in trouble in California, Nevada, Pennsylvania, Massachusetts, Connecticut and Minnesota. The Better Business Bureau gives the company an 'F' and has told them over and over again to stop their misleading advertisements.

The company did not respond to our request for answers and they tell customers there are no returns on the bag if the seal is broken.

McClaine recommends that folks take these types of advertisements to a local coin shop and have them take a look at what's being offered. You could save yourself a headache and perhaps find the same thing for much cheaper.