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 Replies: 23 / Views: 7,047 |
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Valued Member
United States
71 Posts |
I often watch The Coin Vault to see what's going on with modern releases and Barry to see if I can learn anything, he can be informative at times. I also DVR "The Coin Collector with Mike Mezack" and "Coin Shoppe" with whoever is on HSN, which I turn on when I am almost ready to fall asleep and they do the trick. If you think Barry and the Coin Vault is high, the Coin Collector and Coin Shoppe are out of this world. I have never bought anything from tv and don't see it ever being realistic.
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Pillar of the Community
United States
9793 Posts |
Quote:
Is there really any significance of first strikes to make it worth paying such a premium for them on The Coin Vault? Maybe its just me but bullion is just bullion to me. Seems senseless having bullion coins certified. Nope no real significance to me either. Doesn't make sense to slab bullion coins. They push them because they can get them in large quantities, don't see them selling large groups of high end type coins now do you? Because those are rare coins, while modern stuff is not, it is minted in high quantities and almost all will remain in high grade, as they aren't circulated or handled. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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New Member
United States
48 Posts |
I guess paying high premiums on bullions isn't a good idea. A decent mark up on the spot price works well but anything bizarre will take you time to break-even. To me grading bullion coins is a waste of money. Just keep the coin in its government-issued packaging and the coin will be fine for years.
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Moderator
 United States
56855 Posts |
I have watched many coin tv shows and coin vault is one of my favs. All tv coin shows are a bit over priced. As for first strikes slabs,if you collect slabs and not the coins in them then first strike slabs are great. If you collect coins then the first strike slabs are a waste of money,IMHO. John1  |
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Pillar of the Community
 United States
4594 Posts |
What they do is buy a box of coins from the mint. They send them for bulk grading (see http://www.pcgs.com/services/bulksubmissions.html) at a minimum grade of 68 or 69. - If 60% of the coins submitted meet or exceed the minimum grade, each holdered coin will be charged $12. The coins that do not meet your minimum grade will be returned to you unholdered with no charge.
- If less than 60% of the coins submitted meet or exceed the minimum grade, each holdered coin will be charged $12 while the unholdered coins will be charged $5 each.
They then SELL SELL SELL the holdered coins - and dump the junk. They have to cover the cost of the coins, the grading service and their sales costs (the TV show, salaries, etc.) so you can get some guess as to the markups... -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
 United States
4870 Posts |
9 times out of 10 when I turn Coin Vault on they are always pushing slabbed Silver Eagles....a bit boring IMO.
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Bedrock of the Community
United States
17884 Posts |
If by some chance you DO see something of interest on The Coin vault you would consider buying, go the Silvertowne's web site and buy it there. Silvertowne IS The Coin Vault and they are usually cheaper on the Silvertowne website.
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New Member
United States
2 Posts |
The fact that there are so many coin shows being aired these days speaks volumes. It is a true testament to the fact that the number of "coin collectors" has grown exponentially since 1999. All of the above mentioned shows are entertaining and very funny, though I feel sorry for Shawn on Barry Chappell's show. He couldn't sell me water in the Sahara. But Mike on ShopNBC (The Coin Shoppe), tops 'em all. He moves an enormous amount of coins at basically, double retail. He exploits ShopNBC's huge customer base like a true maestro.
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Pillar of the Community
United States
9793 Posts |
Quote:They send them for bulk grading (see http://www.pcgs.com/services/bulksubmissions.html) at a minimum grade of 68 or 69. If 60% of the coins submitted meet or exceed the minimum grade, each holdered coin will be charged $12. The coins that do not meet your minimum grade will be returned to you unholdered with no charge. If less than 60% of the coins submitted meet or exceed the minimum grade, each holdered coin will be charged $12 while the unholdered coins will be charged $5 each. True, I have a friend that is a wholesaler for one of the TV shows and another large buying group, believe me he gets better rates than the prices you quote, but he also spends a lot with the TPG's some months invoicing is mid 5 figures That's $50K/in one 30 day period, so yes they slab a LOT of coins for these guys. Makes no sense to me to buy that stuff, knowing how many are out there, besides I like my coins classic and older than 1970 minimum, most before 1880! "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Moderator
United States
16679 Posts |
Change the channel.
swcoin.ecrater.com
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Pillar of the Community
United States
9793 Posts |
Quote:
Change the channel.  Best advice yet!  "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Valued Member
United States
339 Posts |
The Coin Shoppe is so terrible, I've watched both just to see how bad they're ripping people off and I really hope people aren't ordering from either of them. Reminds me of the South Park episode "Cash 4 Gold"
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Pillar of the Community
United States
3453 Posts |
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They then SELL SELL SELL the holdered coins - and dump the junk. Do you know how they dump it?  |
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Pillar of the Community
United States
2543 Posts |
They wholesale it out to your local coin shop and auction houses. They make so much on the slabbed coins and sets that dumping the leftovers for spot still leaves them a hefty profit. I read somewhere the Mike Mezack, the talking head , from HSN Coin Vault, has sold almost 2 billion dollars worth of coins in the last 20 years. 100 million dollars a year on HSN alone. I $50 haircut, a $1000 suit, a pleasant smile, a little humor and numis knowledge mixed with insomniacs with a credit card is big ..... big business. Reality, entertainment TV at it's finest, I always DVR it.  Edited by denco7
10/27/2013 11:20 am
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Pillar of the Community
Canada
726 Posts |
I think we are luckey here in canada...We don't get that show !!! Not so perfect though we hav a coin show on the Shopping Channel.....
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Replies: 23 / Views: 7,047 |
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First Page
Posted 09/25/2013 03:08 am
