We have always emphasized the importance of having well-informed customers. However, recently we have noticed an increase in the number of calls we receive from customers who are misinformed. These customers typically spend just a couple of minutes online searching for the price of a coin they found in their change. Unfortunately, they often stumble upon listings on Etsy.com where the coin is listed for thousands, or even tens of thousands, of dollars more than its actual value. In reality, most of these coins are only worth their face value. Nevertheless, the customers believe they have struck gold and envision themselves on a beach in the South Pacific enjoying early retirement.
When handling these calls, it is crucial to remember that it’s not the customers’ fault, and it can be challenging for them to grasp the fact that what they saw online is simply not true. We handle these calls and visits with great care, always going the extra mile to explain how and why they have been misled. We do this for several reasons, but most importantly, we want to ensure that the customers do not develop a negative perception of our services, staff, or shop in general. The easiest explanation would be to say, “People can list items for whatever price they want, but that doesn’t mean they are actually selling them.” However, we have found that a longer and more accurate explanation tends to work best. We explain that Etsy is sometimes used for money laundering purposes. When certain organizations need to move money from one bank to another “legally,” they will purchase a coin on Etsy at an exorbitant price. This allows them to fund other parts of their organization or specific cells without being physically present in the same area or even the same country. Since Etsy doesn’t charge a selling or listing fee, it becomes an ideal platform for both the “buyer” and “seller.” This explanation tends to put the customers at ease.
While this explanation may or may not be true in every case, it is possible that these types of listings on Etsy are simply attempts to take advantage of uninformed buyers.
