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 Replies: 23 / Views: 2,182 |
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Pillar of the Community
United States
666 Posts |
I think I wrote a pretty good article on the subject of buying coins off the Television. I'd love to hear some of your comments either here or on the site. The article is here |
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Moderator
 United States
187851 Posts |
Good article, thanks for sharing!  |
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Valued Member
United States
115 Posts |
Very good article. I wish there was some way of letting people know these types of things before they buy but there isn't and once they get burned they're usually done with the hobby. These channels aren't doing anything illegal but it sure does seem unethical. I stated in another post that I believe if they were to sell these same coins, but at fair market value, and maybe offer some other more truly collectible coins, that they would do just as well if not better by earning some repeat customers.
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Rest in Peace
United States
3730 Posts |
Good article.
Many people taken in.
Many potential collectors lost.
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Valued Member
 United States
306 Posts |
Thanks for sharing the article. Very nicely done and I hope many, many people see your article. Price gouging is one thing, but all the mis-information these people use is frustrating to collectors. Keep up the good work. Just a thought but maybe they should try using an Cherry Wood Box chopped by Washington for the presidental coins. |
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Pillar of the Community
 United States
666 Posts |
It kind of surprised me as well... I knew the prices were high, but I didn't realize just how off kilter they were. Their bullion prices aren't as bad, but are still crazy (I'm seeing about 3x book). But the 7x that I found on the numismatic items was just crazy.
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Pillar of the Community
United States
671 Posts |
Great article, I just wish it could be spread to more people/potential collectors.
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Valued Member
United States
442 Posts |
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.
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Bedrock of the Community
United States
19935 Posts |
Nice job! I zoomed in on the Lincoln in the example photo.....it's at least an MS65 and the obverse has a hint of rainbon toning. It's a beautiful example, probably a $175-185 coin retail. However, I suspect the buyer actually gets a G-VG coin.  ....but, you get that fancy holder! LOLOLOLOL Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Bedrock of the Community
United States
19935 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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Replies: 23 / Views: 2,182 |
Posted 11/19/2008 7:10 pm
