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 Replies: 15 / Views: 1,905 |
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Pillar of the Community
United States
2724 Posts |
I am sitting here this morning watching CoinVault on tv and what a joy to see. BU Peace dollar and Morgans. Should be selling for a minimum of $100 per coin. (common dates of course). They are offering at the bargain price of $45 per coin. Now lets see: Peace dollar BU $15 to $20 Morgan dollar BU $20 to $35 for many common dates. 2003 series $2 Star note sets. $1399.95 Show price $450 with late numbers. Now this series with serial numbers of 99 or lower are bringing as much and more money. |
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Pillar Of The Community
3147 Posts |
That TV time is very expensive and they must be making millions as they are still on the air preying on the uninformed and unknowledgable people who are just looking for someplace to invest a little of their hard earned money. I have, more than once, seen these individuals come in to my local coin shop with coins they paid hundreds of dollars over actual book value on TV shows and they are SHOCKED to find out what the dealer offers them. Many, I am sure, leave thinking the dealer tried to rip them off and that was not the case. He was honest and sincere, even showing them the lastest Grey Sheet "bid" and "buy". They have lost their money on a bad purchase and the hobby (We) have lost another potential collector.
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Forum Mom
 United States
5877 Posts |
I think that Coin Vault (and similar TV advertisements) do have a place in the coin community, just not as sellers. If people would watch the shows, get interested in numismatics, and go buy elsewhere, I think it would work out just fine. The problem is that people tend to act on impulse and that's how they get burned. My feeling is that, if people devoted 1 hour of research for every $2 they plan to spend, we would have better-educated buyers and much happier collectors.
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Rest in Peace
United States
954 Posts |
You know they may have a place inour society but it seems I'm the one that always has to tell the person they could have bought the coin at half of what they paid for it. I hate that. It seems they always blame me for their purchase.
catman
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Pillar of the Community
 United States
2724 Posts |
Catman, I share that boat with you. QVC calls Delaware home, and each week my staff or I have to break the bad news to some unlucky customer. Most are educated individuals and one would think that they would know that TV is bad. I met a man (dentist) a while back and he was paying 75% to 100% more than if he had bought from any dealer in the country.
When I showed the greysheet to him, he honestly believed that I printed this price sheet. As far as I know, he still buys from TV.
One of my goals in 2005 is to get ten people to stop shopping in bad places.
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Forum Mom
United States
5877 Posts |
I hope that number's going to be much higher than that, ND. That's the purpose of this forum. The more people that join here, the more we can get off the TV!  |
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Valued Member
United States
440 Posts |
Hi, Susan..Nice forum here !! I just wanted to say the guys at coin vault manage to suck you in.. They would make wonderful used car salesman. I watch sometimes and look up their prices in my books as they are selling. The coins they sell are listing an average 50% lower than selling price. I really don't like that they sell the new quarters " LAYERED 7 TIMES IN RICH UNITED STATES AMERICAN GOLD" AND "THAT 1 OF THEM CAN SELL FOR UP TO $15 BUCKS"LIKE I SAID GREAT USED CAR SALESMAN...LOUSY FOR THE COIN MARKET AND UNEDUCATED CONSUMERS.  |
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Forum Mom
United States
5877 Posts |
It doesn't help that a lot of people seem to want to take the easy (and lazy) way out, either. It's much easier to believe what they are being told than to pick up a book or get some advice before opening up their wallet. Alas, all we can do is provide the information and help, we can't force people to take advantage of it.  And I just realized that I didn't officially welcome you, grovey. So welcome! Please make yourself at home here  |
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Valued Member
United States
440 Posts |
Yesterday they had a 25 (not 24) hr coin vault show. I worked but caught part of it last night. " 10 bu Peace dollars and 10 1957 $1 silver certificates for $379.00" of couurse the Peace dollars were all common dates 1921,1922,1923.. 1899 black eagle $1 silver certficate for $169.95 in fine cond. lists in book for $80.00 THEY ALSO HAD A DEAL THAT I WAS WATCHING CLOSELY..THE COMPLETE COLLECTION OF Kennedy halves..ALL GEM BU FOR $399.00..BOY THEY WERE SHARP..CAN ANYONE TELL ME IF THIS WAS A GOOD DEAL? I'm SURE THERE WAS A MARK UP..BUT HOW OVERPRICED IS THAT ? |
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Forum Mom
United States
5877 Posts |
quote:
Originally posted by grovey
Yesterday they had a 25 (not 24) hr coin vault show. I worked but caught part of it last night. " 10 bu Peace dollars and 10 1957 $1 silver certificates for $379.00" of couurse the Peace dollars were all common dates 1921,1922,1923..
1899 black eagle $1 silver certficate for $169.95 in fine cond. lists in book for $80.00
THEY ALSO HAD A DEAL THAT I WAS WATCHING CLOSELY..THE COMPLETE COLLECTION OF Kennedy halves..ALL GEM BU FOR $399.00..BOY THEY WERE SHARP..CAN ANYONE TELL ME IF THIS WAS A GOOD DEAL? I'm SURE THERE WAS A MARK UP..BUT HOW OVERPRICED IS THAT ?
I don't watch Coin Vault. Were the halves graded? and if so, by whom? |
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Valued Member
United States
440 Posts |
Hey Susan. They were "graded" by the people selling them...no slabs no certification..in the punch out coin holder..but they were very nice.  |
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Forum Mom
United States
5877 Posts |
I would say that they were not a good deal, then. People throw around the "Gem BU" and "Choice BU" phrases without realizing that it has a numerical equivalent (which is MS65+). I have seen Coin Vault and was never impressed that the people selling the coins really knew all that much about numismatics. I wouldn't take their word that a coin was higher than MS63. JMHO  |
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Valued Member
United States
382 Posts |
Coin Vault reminds me of "Crazy Eddie"...the stereo/speaker dealership with prices sooooooooooo loooooooooowww, he's insane!
Actually I find them entertaining and with the prices they charge compared to coins I have, that they are selling, I feel good about my purchases. Maybe I got a deal on my coin inventory, but that's for another thread.
Edited by zakgold
02/08/2005 11:04 pm
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Pillar of the Community
United States
2724 Posts |
Susan, you really should take a few hours to watch. While it will kind of make any numismatist sick to the stomach to see how much a collector is being ripped off. They actually provide some decent info, and some really neat ideas on marketing. Some of the sets put together sell very well. A few hours of watching can inspire new ideas of how to get rid of material that would otherwise sit on the shelf and collect dust.
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Forum Mom
United States
5877 Posts |
Hadn't thought of that, ND. I'll take a look at it this weekend.
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Pillar of the Community
United States
2724 Posts |
quote:
THEY ALSO HAD A DEAL THAT I WAS WATCHING CLOSELY..THE COMPLETE COLLECTION OF Kennedy halves..ALL GEM BU FOR $399.00..BOY THEY WERE SHARP..CAN ANYONE TELL ME IF THIS WAS A GOOD DEAL? I'm SURE THERE WAS A MARK UP..BUT HOW OVERPRICED IS THAT ?
Depends. If the set includes all the proofs including the Matte Proof, I would say great buy. However, considering this is TV, the set was probably P&D only. A complete set (130 coins) including all the proofs and varieties sells for around $1000.00 Nice BU sets sell in the $250 range. |
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Replies: 15 / Views: 1,905 |
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Posted 02/05/2005 11:06 am
