Possible Fraud Or Misleading Certifications

Hi. My father-in-law has been suffering from diminished mental capacity. We have discovered 100s of stamps and receipts that show he has spend 100s of thousands of dollars on stamps that he believes are worth millions. We don't know where to turn to verify this. Attached is a copy of a certification and stamps that had a receipt showing be purchases them for $70,000.00 Can anyone comment on the legitimacy of this company and can this certification be believed as authentic? I have blanked out his name and address for obvious reasons. Any help will be appreciated.

Me again. Found these that the receipt shows were bought for $80,000.00 $20,000 each. Quick Internet search shows me this stamp is super rare, maybe only 50 ever printed. Him having 4 of them seems unlikely. Can anyone comment of if they think these are legit or not?

Welcome,
Can you post the address where the shipments came from so we can be sure who the seller actually is?
Don

Thanks so much. All American is at 500 N. Rainbow Blvd Ste 300 las Vegas, NV 89107.they were the first post. Another one with questionable certs but high prices paid is Lincoln Philatelics 3784-148 Mission Ave #610 Oceanside, CA 92058. they are the ones that sold him the inverted Chinese Stamps

Does anyone know these companies as legit dealers of $75,000 stamps?

Just trying to figure out if he has been buying stamps that are not worth what he paid for them or think they are worth. he is very touchy about the subject and will not allow us to take them to a PSA dealer. so doing some investigative work right now. Thanks.

I mean to type a APS dealer. Not PSA, that is something completely different.

The first one were a scam. These are probably real stamps but were sold using high pressure, over hyped telemarketing. They operated under several names. See this thread
https://800notes.com/Phone.aspx/1-855-500-1101
The stamps are not worthless, but they are not worth what was paid for them.

I'll let others address the second stamp/seller.
Sorry
Don

Thanks Don, It is what we are expecting to hear, but needed to hear it from someone with experience. Sorry to muddle up you messaged boards.

Lincoln Philatelics is a scam outfit that changes names and locations. They telemarket "rare" stamps. They also operated as Franklin Philatelics and International Stamp Store.

Hi SStamps, and welcome to the forum. Sorry about all the bad news. One good thing, you can help others by posting your bad experiences. Thank you for doing just that on our forum,


Peter

Do you have national or state consumer/trading bodies in the US that could assist you?

Hi GeoffHa,
Yes, but they close and reopen under new names staying one step head of the law. The exact same thing that PR (cartel) does in your country, scam for a year or two, close the company down, reopen under another name, repeat over and over.
Don

Peter, Thanks. In the couple of weeks I have been doing my own investigating, I have learned a bunch about stamp collecting and can see why collectors enjoy doing it. I like history in general and learning the history of some of the stamps has been educational and enjoyable, despite the reason I am getting into it. I do have a couple of PF certifications that look legit as they are registered on the PF site. However, even with that I know my F-I-L paid $45K for a stamp that is worth $10K (according to a local dealer) but my F_I_L thinks he can sell it for $85K. Seems it is a similar pattern of these guys selling people on the incredible upside of buying and selling stamps as a moneymaking or investment opportunity with no regard for respect for the actual joy of collecting because you enjoy stamp collecting.

They pray on the elderly in particular. I just went through something similar with my mother-in-law and coins. I am very sorry that this happened.

First get a appraisal of the whole group from dealer who is a APS and a ASDA member, the China block is what would need a review and a certificate talk to Michael Rogers at Kelleher Stamp Auctions

Sad to see your Dad got involued in stamp investments and purchased from a outfit that operated at such a low level of moral being .

To sell stamps at over-priced levels is not illegal but it is illegal to sell investments with out a license across state lines ,talk to the Department that deales with Security Licenses in your state and the State of Nevada

sstamps,
The US Justice Department is currently (this week) pushing their new "elder justice coordinator" program. These are special personal assigned in each state to chase down fraud and scams against elderly people. With this current push, you may be able to find some help if you contact your local State Attorney Office and see if you can hook up with the "elder justice coordinator" group.
Don

Diminished mental capacity, if it was already diagnosed by a doctor at the time of the purchase, would constitute a legal reason to void the sales and have the bank revert the money, I believe. Similar with under-age ...