| Author |
 Replies: 14 / Views: 2,124 |
|
|
Bedrock of the Community
United Kingdom
17883 Posts |
I regularly get e-mails from the Koin Club and Westminster Collection. This just makes me sad - is this 'collection' really 80% sold out?  https://www.westminstercollection.c...jAR1G.Tubw6A Let's ignore the hype and look at the three coins: 1948 cupro-nickel halfcrowns in circulated condition are mega-common - I could probably pull ten easily in Good VF condition from the 25p junk box at my LCS. 1926, admittedly, is a slightly scarcer year for George V halfcrowns, but the specimen illustrated would sell for little over melt - and it is NOT sterling silver, as advertised, but 50% silver! Worth perhaps £5. An 1895 halfcrown in (being generous) Fine condition is catalogued at £15. So anyone splashing out £145 for this 'set' receives coins worth £20 and some fancy packaging! When any of the purchasers (or their heirs) are short of cash and take the coins to a dealer, they will be in for a big disappointment. Not to mention the serious GB collector who gets this as a lovely 18th or 21st birthday present from their Auntie Agatha..  Edited by NumisRob
02/02/2025 08:02 am
|
|
|
|
Moderator
 United States
34393 Posts |
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
|
|
Bedrock of the Community
United States
19112 Posts |
Almost worthy of a Monty Python skit...
|
|
Moderator
United States
94672 Posts |
I'm pretty sure that the "80%" sold out statement is just to catch somebody and jump in to buy this before it is "sold out"
|
|
Bedrock of the Community
United States
24894 Posts |
Soon to be seen here in the US on late-night coin infomercials...
Inordinately fascinated by bits of metal with strange markings and figures
|
|
Moderator
United States
187582 Posts |
Oh brother.  |
|
Pillar of the Community
United Kingdom
2133 Posts |
Quote:
80% sold out? Could be valid if they started out with 5 sets and conned 4 buyers. Buyers are paying £125 for the box and the advertising. What's common in auctions just now is three common date nickels in F to VF condition in a little packet with recessed depressions. I've seen dates ranging from 1924 to 1942. Some people paid £39.95, others £29.95! None of these lots received a single bid - the minimum bid is £2 and there's 25% buyer's premium. |
|
Moderator
United States
187582 Posts |
Quote:
Could be valid if they started out with 5 sets and conned 4 buyers. Ouch. True.  |
|
Moderator
Australia
16806 Posts |
These kinds of "value-adding" mass-marketing companies have been around everywhere, for decades. The modus operandi is the same:
- Buy a common coin, either an old circulated coin or a coin from the Mint gift shop.
- Make some fancy packaging for it.
- Spin a story.
- Sell the coin for 10x what you paid for it.
- $$$profit.
And yes, the "almost sold out" and "limit 3 per household" are gimmicks aiming to delude you into believing there's some kind of rarity about. In truth of course, the only "limit" is the number of fancy packagings they made. And there's literally nothing to stop them from ordering more packagings.
And as the OP points out, the target market isn't actual coin collectors (since most of them would know better). The target market are the idly curious about coins (who will probably get burned and abandon the hobby altogether once they realise the truth), and the friends and relatives of actual coin collectors, who become sad and confused when the collector begs them to stop giving them those coins and to try to get off that mailing list.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
|
|
Pillar of the Community
Germany
1062 Posts |
I have such a story. My father in law is Chinese. He found out I collect coins, so he went and spend like £50 on coins. Turns out most of them aren't even coins, he bought some medal for the coronavirus effort and some other trash, all in all it was worth about £5 or less.
I told my wife to go and get him to talk to the seller, some dude he'd met, and get his money back. He wouldn't, it was a saving face thing for him. No wonder he's poor.
|
|
Pillar of the Community
United States
1057 Posts |
Come on, Rob...the heirs won't take these to a local coin dealer.
They'll post them right here on this forum so we can all ruin their life planning for them!
"If everything seems to be under control, you're just not going fast enough."
--- Mario Andretti
|
|
Bedrock of the Community
 United Kingdom
17883 Posts |
 You're probably right, daltonista! |
|
Pillar of the Community
United Kingdom
694 Posts |
These outfits are just bottom feeding cowboys but you have to ask the would be buyers of this tat are a little to blame?. A little research would certainly set them straight as to the 1000% mark up. I guess also we used to be and still are to some extent collectors of all things in their original packages with C.O.A unless of course it's one of these cowboy entities who make their own and is no way official merchandising in any shape or form. Just worthless eye candy
|
|
Valued Member
United Kingdom
376 Posts |
So sad. I think "80% sold out" refers to the seller's scruples.
|
|
Moderator
United States
187582 Posts |
Quote:
I think "80% sold out" refers to the seller's scruples.  |
| |
Replies: 14 / Views: 2,124 |
|
Posted 02/02/2025 09:16 am
