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 Replies: 23 / Views: 2,504 |
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Pillar of the Community
United States
1037 Posts |
All these guys are extremely long winded. They'll yak on a slabbed MS69 bullion ASE for 30 minutes and will tell you that it is a bargain at $49.99 + 9.99s/h. |
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Pillar of the Community
Canada
5417 Posts |
Haha, they are the scourge of the community.
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Pillar of the Community
United States
7629 Posts |
Fun thing to do is call in to the show and ask them simple, annoying questions. Ask for close up pictures. Ask them to cut the price. Tell them you gotta go ask your dad, or your wife, and see if it's ok to buy it.
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Pillar of the Community
 United States
4594 Posts |
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OK, a TV show. Do they really manage to fill a regular timeslot with nothing but dumbed-down market speculation and over-priced punditry? Do they really come up with new bad deals for every show? You don't watch much basic cable TV, do you? -----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 Kingdom
548 Posts |
I'm just looking at a private mint here in the UK that is selling a normal 1921 Morgan dollar for £80, plus £4 postage. That's about $135. At the same time they're selling a bullion sovereign from 1901 for £400, claiming it is rare when it fact it's worth about half that. There are many shysters in the coin business. It would be funny if these guys didn't stay in business year after year, which means they're swindling a lot of people. |
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Pillar of the Community
United States
2543 Posts |
Say what will, but that guy knows his coins (even if he embelishes ... a lot) He has sold almost 2 bil. dollars worth of coins in the last 20 years that he has been hawking coins. So someone is buying.
He was one of the first guys that pushed slabbed coins and was probably the most instrumental in the current fad of grading new modern issues. He is a huge part of ANAC's yearly business and buys millions and millions of dollars worth of coins from the U.S. Mint every year.
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Bedrock of the Community
United States
20753 Posts |
I'll go along with denco7 on this one. Regardless of what people that know Numismatics knows, there are many, many times that amount that don't know. And it's not just in coins, if you watch those many commercials about just about everything, you would see that they are there for a reason. TV time costs money and they have to make a lot to keep those adds on. Same with coin shows. Lots of people buy that stuff for presents. Not knowing what to get someone that collects coins, such programs come in handy. For every few that kno . values there are millions that don't.
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Pillar of the Community
872 Posts |
This guy has a racket that works. HE has done his homework, while others refuse to.
A buyer of his product has the cash but limited knowledge of what the price and rarity of the coin holds.
To the buyer, its ease and simplicity. The guy apparently knows his stuff, and sounds convincing - or he reads the highlights from a tele-prompter pretty good.
In the end it's the buyers choice whether or not to purchase items that are over priced.
Sure it costs some revenue to have a show, no matter what time it airs. But they may have a better reputation and higher volume if they were doing more of an ethical job.
Instead, they seem to be happy getting the revenue from the uneducated.
Players like this only get in Hot water if the general public complains about the price gouging. then the Department of Justice and FBI would pay him a visit, look over his books and decide if they have enough information to follow through with it. So, until the buyers complain, this guy continues to sweet talk and looks legit. Hey, he knows his stuff, has a TV show and calls these items a deal....what more is there to ask ? <smirk>
One last note, I am sure they buy in bulk and get some amazing deals. Then the profit price point is much lower, allowing them to make fistfuls of cash. Some people have the charisma to sell an eskimo a freezer at the North Pole.
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Moderator
 United States
23522 Posts |
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Players like this only get in Hot water if the general public complains about the price gouging. then the Department of Justice and FBI would pay him a visit, look over his books and decide if they have enough information to follow through with it. So, until the buyers complain, this guy continues to sweet talk and looks legit. Hey, he knows his stuff, has a TV show and calls these items a deal....what more is there to ask ? <smirk> There's a catch-22 though. The more evidence we present proving that they're gouging on price, the more evidence they have to prove that they're just another bit player and don't enjoy any kind of monopoly which would make their price-gouging illegal. You can charge whatever the heck you like in a competitive atmosphere; it's just usually senseless to price yourself out of the market, not illegal. |
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Bedrock of the Community
United States
36844 Posts |
These guys found out it's easer to sell coins than it is used cars.
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Pillar of the Community
United States
2543 Posts |
The saddest part is going to an auction and seeing an "ANACS MS70 First Day of Issue #2500 of #3500 in a special Red Oak Presentation Box" , go for $40. When you know the origanal owner paid HSN $129.99 plus $7.95 S&H for it  |
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Pillar of the Community
United States
4594 Posts |
Three words: "Brown Box Ike"
-----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
Canada
2805 Posts |
Any slabbed coin seems like a racket.
As for cable TV... American daytime TV deeply worries me and I try to avoid TV in general. We have free cable at home... they never cut off a free 3-month offer! We even asked to shut it off, because it was all stupid, but they wouldn't even do that!
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Pillar of the Community
United States
1053 Posts |
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Fun thing to do is call in to the show and ask them simple, annoying questions. Ask for close up pictures. Ask them to cut the price. Tell them you gotta go ask your dad, or your wife, and see if it's ok to buy it. haha  |
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Bedrock of the Community
13014 Posts |
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One last note, I am sure they buy in bulk and get some amazing deals. Then the profit price point is much lower, allowing them to make fistfuls of cash. Im sure they do get amazing deals, the HSN guy bought 10 percent of the total mintage of the 2013 silver eagle sets. At the same time though TV isn't free. Dont get me wrong I'm sure theyre making a nice profit, but its probably not as much as we would think after paying the TV bills. |
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Replies: 23 / Views: 2,504 |
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Posted 11/27/2013 12:15 am
