They have been selling overpriced coins since the Pops got out of the service at the end of WW2 and started the company.
It takes two to make a transaction so I guess they are just a good example of predatory American Capitalism at its best
(worst?)
Collector of Buffalo Nickels and other 20th century United States Coinage a.k.a "The BUFFINATOR"
I have been doing some research on the 1912-S Liberty Nickel. From a Google search I found an offering from Littleton. Their price on a 1912-S Nickel in PCGS graded VG is $375. The "Coin Facts" price guide is only $175. Recent auction results have been a lot lower than that. The higherst was $120 in a Heritage sale. Furthermore the coin they show has no letters of the "LIBERTY" and only grades Good in my opinion.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
There are pros and cons and I think the pros outweigh the cons.
Cons: Overpriced, or you can easily find similar coins cheaper.
Pros: Littleton supports the lower circ market with their buy lists, which get published in the greysheet. Other sellers use that as a baseline and will sell problem coins at this level as "bargains." OK, some non-problem coins will get offered at these levels too. Without Littleton being an aggressive buyer, the market prices will be based on auctions sales on eBay only. This would be a race to the bottom. If the prices for circulated coins collapsed, the market would be much, much slower and smaller.
The extensive advertising they do will bring collectors into the hobby. They may continue with Littleton or they may try and buy elsewhere. The hobby benefits with this expended market.
The properly graded coins from Littleton will be a great guide for a beginner to gauge future purchases from other sellers.
Littleton employs about 400 people. In this regard they are the biggest coin dealer in the country.
I became a "rookie" professional numismatist in 1972. I formulated the original TRUE "Technical Grading System" that was used for internal identification records at the Certification Service in DC and carried over to the first TPGS - at the International Numismatic Society's Authentication Bureau. Before the second TPGS graded coins, our grading "opinion" was given for free and kept separate from the photo certificate of authenticity.
In the late 1960's and early 1970's I had NOTHING GOOD to say about ANY (read between the lines) of the large advertiser's selling coins in the major numismatic publications. Over the decades things changed. Sometime after 1990 I made my first call to Littleton and spoke with the owner. I praised him very highly for the coins sent into PCI (still in his packages) to be graded. EVERYTHING we received was UNDERGRADED. Ms-65 silver dimes, quarters, and half dollars were sold as Unc's. Years latter I called him again about the quality of the coins he was selling.
The quality of the coins are high. I don't know what they cost (I'm not stupid) but I have heard and read in this thread that the prices are high. I for one don't ever want to tell anyone what they must sell a coin for and don't want a "national coin pricing organization" to be established either.
The ads I really got a kick out of were the ones from (I forget who) that had lots of boxes and always the same description:
"We don't do much with these so we're selling them cheap."
I can't remember if it was the same place that kept saying they would sell coins "just as they come out of the bin."
Their buy sell spreads are as large as they come from a business like they run; and they don't sell certified coins so we are supposed to trust their objectivity?
I have been "ripped off" numerous times in my collecting career, and I will probably continue to be ripped off until the day I die.
Heck! Some of the people that "ripped me off" even posted in this thread.
@Raybo said:
I have been "ripped off" numerous times in my collecting career, and will probably continue to be ripped off until the day I die.
Heck! Some of the people that "ripped me off" even posted in this thread.
@topstuf said:
The ads I really got a kick out of were the ones from (I forget who) that had lots of boxes and always the same description:
"We don't do much with these so we're selling them cheap."
I can't remember if it was the same place that kept saying they would sell coins "just as they come out of the bin."
I remember reading ads in Coin World many years ago that stated that very phrase "just as they come out of the bin", and similar wording.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
Littleton helps grow interest in coin collecting. I admire their high standards and trust their opinions. Everybody is free to buy anywhere they choose. I hope you never buy a counterfeit by mistake.
Comments
They have been selling overpriced coins since the Pops got out of the service at the end of WW2 and started the company.
It takes two to make a transaction so I guess they are just a good example of predatory American Capitalism at its best
(worst?)
a.k.a "The BUFFINATOR"
I have been doing some research on the 1912-S Liberty Nickel. From a Google search I found an offering from Littleton. Their price on a 1912-S Nickel in PCGS graded VG is $375. The "Coin Facts" price guide is only $175. Recent auction results have been a lot lower than that. The higherst was $120 in a Heritage sale. Furthermore the coin they show has no letters of the "LIBERTY" and only grades Good in my opinion.
There are pros and cons and I think the pros outweigh the cons.
Cons: Overpriced, or you can easily find similar coins cheaper.
Pros: Littleton supports the lower circ market with their buy lists, which get published in the greysheet. Other sellers use that as a baseline and will sell problem coins at this level as "bargains." OK, some non-problem coins will get offered at these levels too. Without Littleton being an aggressive buyer, the market prices will be based on auctions sales on eBay only. This would be a race to the bottom. If the prices for circulated coins collapsed, the market would be much, much slower and smaller.
The extensive advertising they do will bring collectors into the hobby. They may continue with Littleton or they may try and buy elsewhere. The hobby benefits with this expended market.
The properly graded coins from Littleton will be a great guide for a beginner to gauge future purchases from other sellers.
Littleton employs about 400 people. In this regard they are the biggest coin dealer in the country.
Thanks EagleEye... you prompted me to reply in a separate thread.
https://forums.collectors.com/discussion/1005823/littleton-coin-is-one-of-the-best-coin-dealers-for-our-hobby/p1?new=1
I became a "rookie" professional numismatist in 1972. I formulated the original TRUE "Technical Grading System" that was used for internal identification records at the Certification Service in DC and carried over to the first TPGS - at the International Numismatic Society's Authentication Bureau. Before the second TPGS graded coins, our grading "opinion" was given for free and kept separate from the photo certificate of authenticity.
In the late 1960's and early 1970's I had NOTHING GOOD to say about ANY (read between the lines) of the large advertiser's selling coins in the major numismatic publications. Over the decades things changed. Sometime after 1990 I made my first call to Littleton and spoke with the owner. I praised him very highly for the coins sent into PCI (still in his packages) to be graded. EVERYTHING we received was UNDERGRADED. Ms-65 silver dimes, quarters, and half dollars were sold as Unc's. Years latter I called him again about the quality of the coins he was selling.
The quality of the coins are high. I don't know what they cost (I'm not stupid) but I have heard and read in this thread that the prices are high. I for one don't ever want to tell anyone what they must sell a coin for and don't want a "national coin pricing organization" to be established either.
The ads I really got a kick out of were the ones from (I forget who) that had lots of boxes and always the same description:
"We don't do much with these so we're selling them cheap."
I can't remember if it was the same place that kept saying they would sell coins "just as they come out of the bin."
Their buy sell spreads are as large as they come from a business like they run; and they don't sell certified coins so we are supposed to trust their objectivity?
I have been "ripped off" numerous times in my collecting career, and I will probably continue to be ripped off until the day I die.
Heck! Some of the people that "ripped me off" even posted in this thread.
So...what kind of coins are you looking to buy?
I remember reading ads in Coin World many years ago that stated that very phrase "just as they come out of the bin", and similar wording.
Littleton helps grow interest in coin collecting. I admire their high standards and trust their opinions. Everybody is free to buy anywhere they choose. I hope you never buy a counterfeit by mistake.
So put on your big boy pants and go buy your coins some were else !
Littleton employs about 400 people. In this regard they are the biggest coin dealer in the count
Well that makes me feel better........they have the most" cooks in the back"..