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 Replies: 23 / Views: 4,008 |
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Valued Member
United States
275 Posts |
*** Moved by Staff to a more appropriate forum. ***I forget what show, bit tthey hit a unit with a stash of coins. The unsuspecting winner took clabbed Morgans to the coin shop along with other slabbed coins and ,mint sets, silver and old bills. Right away the guy is like " ok Mint sets are like $5 , this ones silver so $10 , picks up slabbed Morgans and is like $30, ,$60, and then made a big deal about a magnet on a fake early " Trade dollar" I'm like Wow lol. The things that people get away with. She walked away with a grand or so, and prolly only a small fraction of what she coulda had, especially if she looked at what she had . Edited by Coppertop
01/12/2012 04:29 am
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Pillar of the Community
United States
3276 Posts |
That's why you never sell coins like that. lol. They will prey on the fact that you don't know what they are worth so they can suck you dry but also make you think you got a good deal. ewww.
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Pillar of the Community
United States
2335 Posts |
I saw the same episode. The mint sets he was saying were $4-5 were from the mid 80's, when he got to one from the 60's he priced it at $30. Those prices don't seem too out of line to me. I thought it was pretty funny that he said the ASE's that were in NGC MS69 slabs were worth $31 & then showed a raw one & said it was worth $40. He priced proof ASE's in capsules with no gov packaging at $40. I didn't catch what he priced the Morgan's at & he lumped all the notes together so no telling what was really up with those. The part that kills me is they take the items in for an "appraisal" & most of the time the "appraiser" gives them a retail value. Then they show them walking out of the store with the item & claim they made $X profit on the unit. |
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Pillar of the Community
United States
666 Posts |
I looked up the Morgans that were shown in that episode. He quoted close to FMV for all that I saw. I remember the episode because of the magnet on the Trade dollar. An easier test for the the Trade dollars would have been to just look at the date on the coin. They were dated 1872. |
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Pillar of the Community
United States
526 Posts |
The one raw eagle that quoted at $40.00 was a 96. Caught a quick glimpse when they discovered it in the black bag. I almost had a heart attack when I saw the Trade dollar then thought to myself, (Self, betcha it is a fakey), was right on that one. There was also another one where Darrell and his son hit a huge coin collection. 40% Ikes in the brown box, 411 silver quarters in a coffee can, tons of Morgan and Peace dollars along with silver and proof sets. Total came to over $5,000 dollars. Funny thing was that he said each quarter was worth $5.25 (Darrell), guess it was filmed quite some time ago.  |
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Pillar of the Community
United States
5855 Posts |
I saw that episode of Storage Wars (which can be seen in its entirety here), but I don't think it was quite as bad as you seem to think it was... Most of the mint sets were not silver and were therefore correctly not worth very much. The silver proof set from 1962 was appraised at around $30, which isn't too far off. The Silver Eagles may have been slabbed, but there didn't appear to be anything special about them ("Gem Uncirculated") and were correctly appraised at $35 apiece. There was actually a bunch of counterfeit Trade dollars (at least 3 or 4), which were therefore completely worthless. And he did appraise the currency at $500. All told, he appraised the collection at $350 for the mint sets, $500 for the currency and $340 for the miscellaneous silver coins. The last packet of coins contained one Silver Eagle ($40) and all the fake Trade dollars. So that's about $1200 for everything. They never actually showed the slabbed Morgans or the Canadian silver dollar during the appraisal process, so I don't know if they were included in the total or not. But notice that she walked out of the store with all her coins after the appraisal! She didn't actually sell them to the guy appraising them, so she didn't really get ripped off. One odd thing I noticed was that the audio didn't seem to sync up with the video during parts of the appraisal. For example, the camera would show what was obvious a Mint Presentation Set from the 1990s but the voiceover called it a "1955 Proof Set." Similarly, two Peace dollars were shown while the appraiser's voice was heard saying "and these are the proof ones and are about $55 apiece" (he was obviously talking about proof Silver Eagles and not proof Peace dollars). I'm assuming that was due to bad editing and not incompetence on the part of the appraiser. Edited by barryg
01/12/2012 09:14 am
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Pillar of the Community
United States
5855 Posts |
Man, I type really slowly! Sorry to repeat what everybody already said on the subject...
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New Member
United States
38 Posts |
I saw that as well and though the same thing. He just took that lady for quite a bit of money (if she sold them to him, not sure she did), basically giving her the melt value of everything. You would think a person whose life basically revolves around collectibles and selling found items would have more knowledge of coins.
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Pillar of the Community
United States
5855 Posts |
Kaus,
See my response above. She didn't sell to him -- it was just an appraisal.
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Pillar of the Community
United States
7840 Posts |
I was playing around with selling my Jefferson Spouse Proof and stopped in at a "Pawn Shop" here in OKC. The lady was curious and friendly enough but only offered $100 for it, after numerous trips back and forth with her "manager" in the back room. Needless to say that I went elsewhere and received $898 for it (back when gold was $1800+ an ounce), just under spot.
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Valued Member
United States
313 Posts |
C'mon man you guys don't believe that stuff,really?These people are buying lockers and they don't know what coins,guns,high tech audio-video,etc are worth but a microwave that you can buy at a garage sale for $10.00 bucks they say "oh this is a good item at least $90.00 to $120.00 buck in my store"  |
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Pillar of the Community
United States
666 Posts |
Kaus... from what I saw it was a very fair appraisal.
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Valued Member
United States
404 Posts |
It's TV, I bet they all know the value of the coins, but they have to fill 30 minutes, so they bring in an appraiser. The same with Pawn Stars, I'm willing to bet they're not constantly bringing in experts to buy items like they show on EVERY episode. They want the viewing audience to see a second opinion.
Also, why would he not give her the retail price on an appraisal? She didn't ask him to make an offer. An appraisal is asking how much an item is worth, not what he would pay for it. She wants to know how much to charge for the items in her store.
Last, I think they actually did something positive on the show that night. I bet a lot of people don't know about testing their coins with a magnet. How many people do you think took a magnet out and tested their coins?
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Pillar of the Community
United States
5855 Posts |
Quote:
Last, I think they actually did something positive on the show that night. I bet a lot of people don't know about testing their coins with a magnet. How many people do you think took a magnet out and tested their coins? Heh. After we watched the show together, my wife asked me if I had a "special tool" like the appraiser had to test for counterfeits. I said, "yes, dear -- it's called a magnet." |
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Pillar of the Community
United States
759 Posts |
Remember, these are scripted shows and the performers don't work for free either.
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Pillar of the Community
Canada
3692 Posts |
It's television. It's acted out and scripted. Otherwise, it's a waste of everybody's time.
(What he ^ said.)
I'm pretty sure that some of the personalities are people in the business who are trying to get more suckers into their auctions, but it's scripted like hell. And that one guy Barry is a comedian, I'm almost sure of it. What else needs to be said - FAKE!
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Replies: 23 / Views: 4,008 |
Posted 01/12/2012 08:56 am
