Do many people buy coin sets from tv hucksters?
spotthedog
Posts: 313 ✭✭✭
I just ran across a show selling ms 69 silver eagle sets for around 2600 dollars. I don't know exactly which coins are in the set, they're from 1986 to 2020. I think it's just 34 coins. Just wondering.
Best Answers
-
silverpop
Posts: 6,738 ✭✭✭✭✭
yeah many do and find out later they got took as the coins are worth less then what they paid for them
6 -
CoinJunkie
Posts: 8,772 ✭✭✭✭✭
If they didn't, those shows probably wouldn't be around anymore by now...
10 -
BryceM
Posts: 11,852 ✭✭✭✭✭
When my grandma passed away she all sorts of nonsense from those guys. Circulated bicentennial quarter rolls, made up sets of state quarters, Ike’s, and other random stuff. I doubt she spent all that much, and she probably had a bit of fun doing it. Fortunately, nothing all that valuable.
5 -
PerryHall
Posts: 46,817 ✭✭✭✭✭
I bet dealers hate them. They are in the unenviable position of breaking the news to the buyers of these coins that they got ripped off when they bring them in to sell them.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire12 -
davewesen
Posts: 6,646 ✭✭✭✭✭
I can't decide the best time to cash in my gold and platinum plated state quarter collection.
9
Answers
It's a lot of money. Not something that should be done casually.
Very few coins sell at retail so it always looks outrageous when they do. In the future there might be lots more coins trading at retail prices.
Don't forget, too, that a lot of coins sold in such venues are "value added". Customers pay extra to have sets assembled for them.
While many of the prices really are "too high" there is a lot of overhead in such operations and in some cases wholesale prices are far higher than catalog. For instance the Redbook lists the '72 Ike at $2.50 in MS-63 but wholesale price on this coin is $3 (in BU) and mark-up can take the selling price to 8 or $9.
A buyer shouldn’t care what overhead a seller has. It makes zero difference to the value of the object being bought.
It makes my blood boil when they go through the individual coins and give the values. They fully know they are outright lying on what the coins can be sold for.
I don’t know how folks like that can sleep at night.
I do not support the misstatements of facts and lies.
But there really is a growing retail market for coins and some of these venues have high overheads.
Some of the coins that they offer are a little unusual, albeit very overpriced.
If you want/need it and KNOW what your getting into, then I see no problem.
If you're drunk and bored at 12:00 AM and DON'T know or understand current price trends, then you should BEWARE!!
All of these shows offer a guaranteed 100% refund.
It takes VERY LITTLE effort to do some research....Some people are just too lazy or simply DON'T care to do so.....
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Yep, talk to any dealer they have likely had to break the bad news to many people. It is also very common that they think you are the one trying to scam them. to paraphrase Mark Twain.
It's Easier to Fool People Than It Is to Convince Them That They Have Been Fooled.
Post edited to change it from a quote to paraphrase since there is no evidence that Mark Twain said those exact words. However, he did say something similar.
Join the fight against Minnesota's unjust coin dealer tax law.
According to Snopes...
Did Mark Twain Say ‘It’s Easier to Fool People Than to Convince Them That They Have Been Fooled’?
While the quote "it's easier to fool people than to convince them that they have been fooled" is often attributed to Mark Twain, there's no evidence that the author actually wrote this phrase.
https://www.snopes.com/fact-check/did-mark-twain-say-its-easier-to-fool-people-than-to-convince-them-that-they-have-been-fooled/
It looks as though you've been fooled (not that you'll believe me).
Why do you say that?
I was attempting to make a joke. He believed that Mark Twain said that. You pointed out that he had been fooled into believing the source of his quote. Perhaps I amuse too easily.
I find it ironic that MasonG believes Snopes.
https://www.forbes.com/sites/kalevleetaru/2016/12/22/the-daily-mail-snopes-story-and-fact-checking-the-fact-checkers/#4b95d701227f
Join the fight against Minnesota's unjust coin dealer tax law.
Fair enough, sorry for not getting it. Although the link I provided said there was no evidence he wrote that, I'm certainly open to the possibility that there might be something out there that's not yet been seen. My personal opinion would be that that's unlikely.
I posted a link to them, some people seem to consider them reliable. Didn't say I believed them or that they were the final authority or anything.
Just sayin'.
edited to add... Having read a fair amount of his writings, I'd want to see evidence of exactly where it came from before I'd be willing to believe he wrote those words, as the wording doesn't ring true to me.
Those TV infomercials can be entertaining and ...gulp... sometimes educational, especially, Rick Tomaska, but I would never buy from them. The mark up can be steep. They show prior sales histories and twist the facts slightly so it looks like you're getting a good deal.
According to the link you posted, Snopes thinks it is a paraphrase and not a direct quote. Snopes claims there is evidence Mark Twain did say, “How easy it is to make people believe a lie, and how hard it is to undo that work again!” – Autobiographical dictation, 2 December 1906. Published in Autobiography of Mark Twain, Volume 2
I stand corrected.
Join the fight against Minnesota's unjust coin dealer tax law.
At least he doesn't sell problem coins, just nice coins marked up by many multiples IMHO.
They sell a lot ... and the people that buy them, believe they have treasures. When they ask you about them, be careful, they get very angry when you tell them the truth. Even showing them reference material such as the Redbook and others....They become defensive and defend the TV hucksters. It is tough for an individual to accept the fact they have been scammed. Been through it several times, one fellow would never speak to me again. Cheers, RickO
Coin collecting comes on every night here from 3-5 am on the History Channel. All the coins are NGC MS69. Most of the time they are ASE’s and the average for each coin is $69 per coin. The barker hypes the mintage, the importance and this is the last year etc. No scarce dates etc. You can pick up the same coins on eBay all day for
$29-40.
Why do I know it’s on? I have tinnitus and keep the TV on low all night to drown out the hum. I wake up to him and most mornings I’d rather have the hum.
"I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
Same hucksters hocked sports cards in 1990. Buy these, save them. Put your kids through college. 99.99999% are only good for the fireplace. Broken many hearts when I told them the news. At least coins have some value even if it only 1/4 of what they paid.
"I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
My dad loves Morgans. A few years ago he overpaid for a roll of 'Brilliant Uncirculated' coins from a TV sales pitch.
I, immediately, drove over there and asked to see them after they were shipped to him.
I could tell, right a way, that they were raw, polished sliders (most of them, anyway) and that they were priced well above the price of a graded, choice, example in MS, so I urged him to send them back.
At first, he was disappointed and wanted to keep them but I pressed the issue. Before we sent them back, I tried to tell him the WHY. I showed him the cleaning, the rub and what they were TRULY selling for online (problem free and graded).
He was upset after 'losing' his new found collection.
This made me feel bad, so I took him with me to the next few local shows and bought him some CERTIFIED, MS 63/64 examples of PQ Morgans. Some were semi-key but all were beautiful and problem free for the issue.
It warmed my heart to see the old man's face light up, once again, and gave me comfort and satisfaction KNOWING that he now had great coins and hadn't overpaid for junk nor been taken advantage of.
I'm soooo glad that I was able to do that for him, because through his influence and help, I was able to start this wonderful, yet sometimes dangerous, hobby, as child. This was my way of paying it forward and simply looking out for my father.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
The more important question to ask is, " Do many people buy TV sets from coin hucksters?"
Sorry. I couldn't resist.
I recently bought an item from a so-called TV huckster. Rocket fast shipped. Free postage, 2 day priority. I'll give them some future business.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
What constitutes "retail" in the coin biz and why bring it up if coins seldom trade at that price?
Speaking of overhead cost, does anyone here realize how expensive costly selling on television really is?
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Why should buyers care?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Why should buyers care?
Just trying to throw some light on why the TV sellers ask so much for their merchandise.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
My advice to potential buyers of merchandise from TV sellers is to stay off the sauce while watching and listening to their pitch.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Even if the TV time was free, they would still charge what the traffic would bear.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
TV sellers are responsible for many people having jobs in the television industry so support TV sellers at least a little bit.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
I guarantee you all that the camera operator on the TV show that is selling coin sets needs his or her job more than you need your coin set, a luxury item.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Even if the TV time was free...
Not on this planet is TV time free.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
As long as uninformed people will pay that price and the sellers are making a profit it’ll continue for evermore. Sad
My point was these hucksters are going to charge whatever they can get away with no matter how much or how little the TV time costs.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
My point was these hucksters are going to charge whatever they can get away with no matter how much or how little the TV time costs.
I've found the same to be true when dealing with coin show hucksters. Charging as much as they can get away with, that is.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
As opposed to the many serious collectors here, who endeavor to sell their coins at the lowest possible prices, I'm sure.
If you a serious collector you don't sell your coins.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Even Johnny Lawrence got duped.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I’ve had a few dealers in B&Ms tell me about keeping the lights on and paying rent when I make offers on coins. I don’t pay more than I want to because they have overhead, but it certainly Goes into their pricing model (which makes since). For me, the coin is the coin when I get it home and won’t be more impressive or worth more because I got it from a B&M.
With that said, though, whether it’s a coin show, B&M, eBay, or TV show, you’re partly paying for the convenience. I don’t think I know anyone who buys from the TV guys, but it sounds like you often don’t find out until they’re dead.
I'm sorry, but this is one of the most absurd comments I have ever seen here. Serious collectors upgrade all the time. No one wants a dozen duplicates (except maybe Mr. Hansen
).
You can see mr1874 every Saturday and Sunday mornings from 7 to 8am on the Huckster Shopping Channel.
Sometimes I feel like Rodney Dangerfield around here. Can't get no respect.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Very sad. Knowledge is power.
Dave
I don't get no respect. I could tell that my parents hated me. My bath toys were a toaster and a radio.
Whoever is careless with the truth in small matters cannot be trusted with important matters.