Certified Morgan dollars on TV
seatedlib3991
Posts: 722 ✭✭✭✭✭
This morning I turned on the TV and found an infomercial selling a group of 21 "sleeper" Morgan dollars.
Only $3,995 for the 21 coin set in NGC 63 holders.
Zero mention of PCGS
Claimed 63 is "The most coveted collector grade".
Jotted down some of the "sleeper" dates. 83-O, 84-O. 85-O, 88, 89, 90. Have not collected Morgan dollars in a while but think those are the most common. Kept flashing population reports and showing how "these" dates were the same as much more expensive dates in comparison.
Wife is still mad at me for yelling at the TV at 7 in the morning but some things just get under my skin.
Could not help but wonder what kind of set could be done with that much money to spend. For one thing, I bet you could do the same set in the "popular" collector grade of 64. PCGS. James
Comments
Never buy a coin from TV.
I call these guys on TV "barkers." They are introduced as "experts," yet I have never heard of any of them. They usually say that common "stuff" is rare and lots of collectors want it. It's usually not the case.
They have rather high overhead which explains their high prices.
I watch them for a few minutes for their entertainment value only.
Dang it. Looks I’ve been going about this collecting thing in the wrong way completely.
I’d much rather have one really nice example of an MS 67 Morgan dollar worth $3995 than 21 MS63 “sleepers” from TV at the same price.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
Yeah, well, your wife is right. I promise you that whoever you were yelling at could not hear you, so all you accomplished was annoying your wife. 😀
Beyond that, just understand that TV is a very expensive way to reach people, and that ad was not meant for you. It is meant to bring new people into the hobby. They are expensive to reach and the sellers are not running a charity. So the prices are always going to be high for what you are getting.
That said, there is really nothing wrong with NGC. For the more common stuff in the more common grades, which is precisely what you are complaining about, there is no premium attached to PCGS slabs as compared to NGC.
Both services have deals with telemarketers, and you will find numerous slabs from both companies all over TV, especially with moderns. 63 is undoubtedly a more popular "collector grade" than 64 because they are both considered "choice," neither is considered "gem," and, coin by coin, 63 will be less expensive.
Yes, you could find anything for less money anywhere other than TV. But, you have to know what you are doing and where to look. And those are simply not the people being marketed to on cable TV at 7:00 a.m. on a Saturday.
They have to be selling a lot of this greatly overpriced stuff to keep on doing the show.
I have found myself yelling at the TV a lot over the past several years. (Yes, maybe a little nuts here :-))
My own son actually fell for one of these scams and bought a bunch of uncirculated modern nickel rolls from some of these “barkers” several years ago. I was very disappointed!
I have a dim view of such marketing endeavors.
I sympathize with your screaming at the blasted TV.
For my health and sanity, I watch it very seldom these days and have disconnected from most services.
Take care of yourself and stay away from those shopping channels at least.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
I have to watch these coin shows for a little while, just to hear the "whoppers" they tell.
Personally I just hate to see my hobby used so often as a get rich ploy that ends up fleecing the innocent. I mention PCGS only because the lying trash on TV was pretending NGC was the only game in town. My guess is his "scant" populations would double and triple when all the rest are thrown in. James
And they surely do. There are several telemarketers on cable and satellite TV several times per week. As I said, production and air time is not cheap. If they weren't making money they wouldn't be all over the place. Even at 7:00 a.m. on a Saturday.
P.S. @NJCoin . Just for the record. Annoying the wife has been my ONLY other hobby for more than 40 years. James
Figure it this way...
Somebody has to pay the studio to create the broadcast. Somebody has to pay for airtime. Somebody has to pay the (air quotes) talent. And the makeup people. Production assistants. Director.
I guarantee it's not coming out of the seller's cut - they have to pay off the Benz somehow. Nope, they jack up the prices enough to cover everything.
If you go to a local coin shop, you're paying for their overhead, and a new shirt because the old one has mustard stains. What's cheaper - a Benz or a shirt??????
ANA 50 year/Life Member (now "Emeritus")
THIS ^^^^^. Again, telemarketing is not aimed at numismatists. It's a very expensive selling platform, and is priced accordingly. It's not a "rip off" to the extent that it reaches people who would not otherwise be reached, even though they certainly pay a lot more than they would if they bought through other channels.
Kind of like buying a car and then paying for a driver is more expensive than renting a car and driving yourself, calling an Uber, taking a bus, or walking if you need to go from Point A to Point B.
RCTV must be good if it comes on at 7AM.
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I find that yelling at the tv is part of my entertainment of watching it.
When it comes to pro hockey games, the yell is always shoot the puck.
My wife only gives me the eye stares when it comes to my computer not doing what I want it to especially when it comes to email composing.
Wayne
Kennedys are my quest...
Words to live by.