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Television Coin Show Wars

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Lucky Cuss's Avatar
United States
4883 Posts
 Posted 12/14/2014  08:11 am Show Profile   Bookmark this topic Add Lucky Cuss to your friends list Get a Link to this Message Number of Subscribers
I was watching a bit of Barry Chappell's and Rick Tomaska's shows last evening. Now for those of you who may not know, Tomaska used to do segments for Chappell until earlier in this year when he struck out on his own (evidently taking Jack McNamera with him). It's my understanding that Tomaska association with Chappell's operation began with his role in assembling Chappell's premier collection of proof Morgan dollars. And certainly Tomaska has some bonafides within the hobby by virtue of the books he's authored. I can only assume that their parting was acrimonious, as each has been sniping at the other on the air since. But Chappell now appears willing to take this to a whole new level.

Recently Tomaska had offered a package of four Peace dollars certified at MS66 for $2,595. Chappell countered last night by offering the same for $1,995. He even went so far as to suggest that anybody who had bought Tomaska's product return them, and buy his instead, pocketing the $600 savings. He remarked that this matter was "personal" for him, and labeled Tomaska as "greedy.' Without getting into minute detail, let me just say that the whole tone of the presentation was one of ridiculing Tomaska.

I want to emphasize that I'm not taking sides here. I have no inside information that would serve as the basis for my doing so. I'm merely a small time collector who's never done any business with either party. It's just that I've never seen anything quite like this. Sure, you'll hear coin show guys vaguely refer to their competitors in promoting their deals, but this level of specificity and vitriol seems to me to be something entirely different.

If I have any of my facts wrong, feel free to correct me. But I'm more interested to reactions to this particular broadcast, and if anybody else sees this rather public dispute as having become somewhat unseemly, and whether some sort of line has been crossed.
Colligo ergo sum
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Pertinax's Avatar
United Kingdom
2133 Posts
 Posted 12/14/2014  1:30 pm  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply
I think this sort of competitive offering is pretty common amongst UK dealers in stamps and coins, either in public ads or in their newsletters.

It's often "Why buy X from A when we'll sell you X at half A's price ?".

There are several dealers offering the same product as The Royal Mint but at a discount to The Royal Mint's price.

I don't think it's unseemly; at least providing there's no physical violence.


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denco7's Avatar
United States
2543 Posts
 Posted 12/14/2014  3:17 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
Maybe they will snipe each other down to offering reasonably priced coins ?


Nah ........
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SsuperDdave's Avatar
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23522 Posts
 Posted 12/14/2014  5:14 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply


Not in our lifetimes.
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jimbucks's Avatar
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4691 Posts
 Posted 12/14/2014  6:02 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
I wonder what the percentage of overpriced items get returned to these guys.

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Lucky Cuss's Avatar
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4883 Posts
 Posted 12/14/2014  6:07 pm  Show Profile   Bookmark this reply Add Lucky Cuss to your friends list Get a Link to this Reply

Quote:
Maybe they will snipe each other down to offering reasonably priced coins ?


Yeah, I get that aspect of the situation. I wasn't especially expecting sympathy for either guy.
Colligo ergo sum
Edited by Lucky Cuss
12/14/2014 11:52 pm
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edweather's Avatar
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7375 Posts
 Posted 12/15/2014  12:44 am  Show Profile   Bookmark this reply Add edweather to your friends list Get a Link to this Reply
For all I know they could be in collusion taking turns overcharging the public.
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Pertinax's Avatar
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2133 Posts
 Posted 12/15/2014  02:23 am  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply

Quote:
I wonder what the percentage of overpriced items get returned to these guys.


I think not very many.
First of all, 'buyer beware' - why would they give a refund.
Secondly, when coins get marketed to non-numismatists, the buyers accept what they're told and don't find out for many years that they've paid over the top or that the items are overgraded.

I saw 2 coins in the local auction recently, both still with their invoice from a well known coin marketeer.
1. GB halfcrown (2s 6d) 1887 jubilee EF £120. Except it was barely better than VF and book for EF is only £30 now, and probably a lot less in 1984.

2. GB 1900 crown (5s) EF £250, bought 1991. It was almost EF but cleaned and I suspect the field on the obverse had been polished.
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Pertinax's Avatar
United Kingdom
2133 Posts
 Posted 12/15/2014  02:25 am  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply

Quote:
For all I know they could be in collusion taking turns overcharging the public.


I hadn't thought of that.

Two coin marketeers could clean up very easily with an unsuspecting public, both with hugely inflated prices sharing the profit.
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