How Do The TV Guys Sell Coins At Rediculous Prices

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Author	Replies: 5 / Views: 1,172
jimbucks Pillar of the Community United States 4692 Posts	Posted 08/03/2014 8:08 pm I am posting in this thread (yet it can apply to modern coins also), because over the weekend I saw one the typical coin hawkers selling NGC/PCGS EF-40 bust halves at around $290 or so. Of course they spend the first 15-20 minutes building up the hype. What I don't understand is that anyone with an internet connection can go to ebay and find NGC/PCGS EF bust halves at a buy-it-now for around $100 less. That's huge difference for the same "product". Any insights on how they get away with such price gouging? Report this Post to the Staff

just carl Bedrock of the Community United States 20753 Posts	Posted 08/03/2014 8:34 pm Remember that not everyone has the internet. Not everyone uses or even wants to use ebay. Not everyone knows how to find the value of coins, currency or actually anything. Actually the vast majority of people on Earth are not coin collectors. May seam that way when your looking for a certain coin. If you watch such TV shows you would see they attempt to sell almost everything for fantastic prices. And remember they have to since they have to pay for TV time and that isn't cheap. There is one that has been on for a while selling the State Quarters. And I'm sure they have sold many, many of those sets and the people that buy them are happy at least for now. Many people that have no idea of coins buy such deals for presents for someone they know that does collect coins. Report this Post to the Staff
denco7 Pillar of the Community United States 2543 Posts	Posted 08/03/2014 8:34 pm They are salesmen, that is what salesmen do. How does a used car salesman get people to pay top dollar for a car that is obviously on it's last legs. Put up something that the majority of lay people have never seen. Stretch the facts about how it is rare ... rare ...rare... convince people it is a one time super investment for the future and watch the phones light up. It is not just coin hawkers, it is real estate salesmen, car salesmen, computer, life insurance, securities salesmen. What I don't understand is online auctions, in most cases you have at least a week between the catalog release and the auction to do your research, yet people still will over pay for a coin and still pay BP and shipping on top of that Report this Post to the Staff
jimbucks Pillar of the Community United States 4692 Posts	Posted 08/03/2014 8:37 pm It was a rhetorical question. Report this Post to the Staff
edweather Pillar of the Community United States 7375 Posts	Posted 08/04/2014 01:08 am My brother is one of those guys that buys a lot of the tv stuff. He's happy with it and doesn't care what it costs. Far be it from me to correct him. He tells me about all the wonderful coins he bought off of tv, and I say 'that's great!' I'd like to think he's smarter than that, but what do I know. Some people don't really care what stuff costs if they have the money. Look at all the fake and overpriced garbage that sells on ebay....makes some of the tv stuff look like a good deal. Report this Post to the Staff
jmkendall Pillar of the Community United States 1590 Posts	Posted 08/04/2014 1:06 pm You have no idea how many people walk into the shop and want to sell their Coin Collection they bought on TV....or certain other large mail order companies. Then I have to tell them that their collection is not worth more than 5 to 10 percent of what they paid for it. As an example a customer came in last week and brought a " War Nickel" three coin set. All three were in the Fine range. The packaging was nice but they showed me the invoice and they had paid $29.99 plus shipping. I showed them a bag of War Nickels and offered them as many as they wanted for $1.50 each. It comes down to convience. Pure and simple. Report this Post to the Staff
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