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 Replies: 23 / Views: 2,185 |
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Bedrock of the Community
United States
19960 Posts |
Quote:
Nice article and unfortunately I see this stuff on a very regular basis.
People come in with "collections" that are loaded with this stuff and we pay next to nothing if we buy them at all. SO much of it is useless inventory that does nothing but take up space.
Really is a shame.
Exactly! My dealer takes that stuff in, rips off the packaging and tosses into the melt pile. I've seen him do that I don't know how many times. OT...but....this is funny...about 3-4 months ago this guy walks in with a 3 ring binder with pages of Morgans in 2x2's. I mind my business and let the transaction go down. After the customer leaves I walk over to my buddy the owner and he's ripping this thing apart! He tossing (literally) the Morgans ALL into the melt pile. They are banging and clinking. HAHAHAHAHAHAHAHAHA It's kind of sad, somebody collected all those, labeled them and thought they really had something. To the dealer it was melt silver!  |
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Bedrock of the Community
United States
20753 Posts |
Great article. As noted to bad this couldn't be published on TV or somewhere more public.
However, there is or could be a problem. Organizations, such as HSN, could well form a law suite when using their names without actual proof of what is stated. It would have been a lot smarter to just keep to more generalities of what is being sold on TV without using specific organizations names. If they wanted to they could easily find out the name(s) of the authors of such articles and take legal action.
You must remember such organizations have the ability to show and prove why their prices are what they are due to the high cost of advertisements. To prove fraudulant prices only due to comparisons in other places would not work legally.
I would suggest such articles be edited to not use specific names.
Everything said is true but proving it may well be a problem.
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Pillar of the Community
 United States
666 Posts |
Nothing written is liable or defamatory. This is a consumer advocate piece. I called one of my buddies who's a law professor at OU (FYI--- I hate the sooners) and am in the clear on this one.
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Bedrock of the Community
United States
20753 Posts |
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Nothing written is liable or defamatory. This is a consumer advocate piece. I called one of my buddies who's a law professor at OU (FYI--- I hate the sooners) and am in the clear on this one.
Smart move. Better to be safe than sorry. |
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Pillar of the Community
United States
5318 Posts |
I enjoyed reading your article. I think people who shall remain nameless are a disservice to our fine hobby.  |
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Valued Member
Singapore
104 Posts |
nice article! very informative.
thanks for sharing it!
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Valued Member
United States
300 Posts |
I don't think I've EVER seen anything offered on the TV coin shows that wasn't priced over several 100% of the actual market price
just last night I saw common date Morgans (1921) sure they were BU, but they were selling them for $47, a coin that's probably worth more like $20
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Moderator
 United States
16679 Posts |
My answer is simple. Don't buy anything from TV! These people prey on the ignorant and uninformed.
swcoin.ecrater.com
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Pillar of the Community
United States
869 Posts |
At least TV sellers don't sell fake coins  and most coins they do sell are graded buy good grading companies and have return policy. Here is a big plus for me. The coin you see is what you will get.  I would buy a coin and a fine watch from someone on the street selling them out of a briefcase  before shopping most coins on the $-bay. Edited by coindexter
11/27/2008 01:53 am
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Pillar of the Community
United States
1121 Posts |
2 words come to mind: Buyer Beware! Good Job with the article. Those poor old guys and gals spending their ss money on these overpriced dogs.
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Valued Member
United States
300 Posts |
The best thing to do is, before you buy anything, educate yourself and DYODD before you buy
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Pillar of the Community
United States
3184 Posts |
great article, I almost was fooled by them but after doing research on my own, I was like "thats a rip off!" They are good at talking up a coin but just standard research will prove they are just trying to jip you
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Moderator
United States
16679 Posts |
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At least TV sellers don't sell fake coins and most coins they do sell are graded buy good grading companies and have return policy. Here is a big plus for me. The coin you see is what you will get. That's great. I personally don't care for 400-500% markups but if that's what some folks like, good for them. I'm not a big fan of higher taxes either, but according to a recent poll, most Americans do. So I guess I'm out of the loop. Quote:
2 words come to mind: Buyer Beware! Good Job with the article. Those poor old guys and gals spending their ss money on these overpriced dogs. Exactly. swcoin.ecrater.com
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Pillar of the Community
United States
869 Posts |
I personally don't care for 400-500% markups but if that's what some folks like, good for themYes, I agree I wouldn't buy from either one. I was just stating that TV sellers send you a real coin that you don't have to inspect before you buy. Not like the fake coins we see posted on here every week that newer collectors have bought off e-bay. https://goccf.com/t/37652 At least if they did spend $100-200 on a 1921 Morgan || it was a real certified one and if they didn't like it or found out latter it was a rip off they could return it without all the E-bay,pay-pal hassles.
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Moderator
United States
16679 Posts |
The key to not being taken is education. Study diagnostics. A great book is the PCGS Grading Guide and Counterfeit Detection. Learn this book top to bottom especially the keys which I like to buy. Compare the "real deal" to the fakes. After a while, they are easy to spot. And also, learn the run of the series. The " Red Book" will tell you that the last Morgan "CC" was 1893. coindexter, I strongly agree with your quote: Quote:So buy only TPG slabbed coins with return policies and auctions with original large pictures of the coin you are buying. Excellent advice . If you buy raw, know the diagnostics of the genuine coin. swcoin.ecrater.com
Edited by vermontensium
11/29/2008 7:12 pm
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Replies: 23 / Views: 2,185 |
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First Page
Posted 11/20/2008 08:48 am
