What do you think does the most disservice to coin collecting?
dan1ecu
Posts: 1,573
Like fine art, coins should be preserved for people to learn from and enjoy. Unfortunately, there are those who for selfish reasons alter coins (coin doctors), or engage in less than honest business practices, thereby driving off many potential collectors.
I’m sure that there are some dealers and some collectors who are who are a detriment to the hobby. What do you think are the worst things going on in coin collecting today?
Dan
I’m sure that there are some dealers and some collectors who are who are a detriment to the hobby. What do you think are the worst things going on in coin collecting today?
Dan
0
Comments
I love Ike dollars and all other dollar series !!!
I also love Major Circulation Strike Type Sets, clad Washingtons ('65 to '98) and key date coins !!!!!
If ignorance is bliss, shouldn't we have more happy people ??
JMHO as always.
Ken
The US Mint's refusal to mint attractive coins. The same boring coin for 70 years isn't exactly helping breed new life into this hobby.
PCGS's refusal to use the proper 60-70 grading scale. Their "lumping" of coins into one grade has resulted in being unable to buy/sell coins sight-unseen.
The registry. Come on, it's a hype machine that too many people are getting caught up in and end up buying low quality, yet higher grade coins for stupid money.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins, justindan, doubleeagle07
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me. . . . . . .
sincerely michael
<< <i>What do you think does the most disservice to coin collecting? >>
most of anaconda's threads lately?
TRUTH
<< <i>Whinely, never satisfied coin collectors. >>
without whom, dealers would be in a business suited to their skills, such as grave robbing, for example.
I know the professionals at ICG and am sure that some of the other services may also have excellent numismatists on staff.
Michael, coin dealers, again as a class, do far more as a service than a dis-service.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
any businessman who rips off his customers, by misrepresenting the product or service, or overcharging (and yes, there's a can of worms) whatever the industry, especially new customers who trust the businessman for information, is unethical. And unethical businessmen are usually, eventually, weeded out by the market. Honest businessmen often go after unethical ones because it is often an unfair competitive advantage not to be bound by ethical business practices.
so, like everything else in life, it's a continuum, with the most honest and upstanding business leaders at the top, and, at the bottom, the most blatant attempted rip offs that we all laugh about on here, who dwell, apparently, in bags of scum, or are the scum, or the scum is on the coins, or whatever.
anyway there's the whole big bell curve in between, and I think the best we can do is to try to be fair and make a fair profit for honest work. If someone feels like being a "more than fair" dealer, I am always willing to take their charity and buy their nicest coins at less than wholesale. and if someone offers me coins for more than I thinnk they're worth, I will pass and also advise anyone who asks me against their purchase at that price.
maybe it is a little too much to ask us to stand there and keep doing it, or to try to right every wrong in the whole marketplace, but we can do an appropriate amount about that which comes to our attention.
Liberty: Parent of Science & Industry
PCGS's refusal to use the proper 60-70 grading scale. Their "lumping" of coins into one grade has resulted in being unable to buy/sell coins sight-unseen.
Would you not include paragraph 2 into paragraph 1?
The US Mint's refusal to mint attractive coins. The same boring coin for 70 years isn't exactly helping breed new life into this hobby.
Beauty is in the eyes of the beholder!!
Just my opinion, Ken
<< <i>What do you think does the most disservice to coin collecting? >>
dealers who hype up slabs, representing them as something more than they really are.
however, i admit that such misrepresentation is a great service to the business
K S
those dealers that have the merchandise, integrity, pricing and personality that makes
you comfortable. Im sure that we have more then our fair share of collectors that are less
then admirable in conducting their hobby with dealers. I guess both dealers and collectors must
seek each other out for a good and mutually satisfying fit.The relationship can last longer
then many marriages. The greatest disservice to coin collecting is the lack of knowledge and
unwillingness to seek that knowledge among new collectors and a number of dealers. Joining
this Forum is an important step for both newbies and advanced collectors and dealers. I have
learned so much this past year, I can now almost cross the street without help.
I can even tell the difference between a coin in VG condition from a coin in MS-70. But it takes
me a long time to actually do that.
Camelot
I think that a re-vamp of all coinage would effect the collectors in a positive way! Look at the State Quarter program and it has effected the rest of the market. High MS quarters are really taking off in price, especially prior to 1964!
HOW DO YOU GET THIS SPELL CHECK TO WORK!!!
ANACONDA has gotten to me again!!!
NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!
WORK HARDER!!!!
Millions on WELFARE depend on you!
I can't say how many times at shows or even in one particular shop (unfortunately one of the only ones around me in the Dallas area, to my surprise it was recomended to me) questions or comments are met with sighs, eye rolling, or completely ignoring them. Not questions like "Whats MS mean?", but questions like "Do you have any others I can look at?". I have a 8 year old son I have been including in my coin adventures to foster interest, and it has been working. He is very interested and has his own collection, unfortunately many dealers out there treat him rudely at the shows we have been to, I assume guessing he is not going to bring them much money. I can't tell you how hard it is to watch him ask a dealer a question or ask to see something and have the dealer blow him off completely. It sucks.
Having said that, I have had my share of good experiences as well. Dealers who ask my thoughts about a coin I'm viewing or my interests. Dealers who talk to my son about his interests and treat him with respect. One sparked an interest in modern commemoratives by telling him about them and showing him some.
Anyway, this "whinely, never satisfied coin collector" thanks the dealers out there who treat customers with respect and have fun with it. They are the ones who make it possible for myself and my son to enjoy our collecting, and they are the ones who get our continued business.
Manipulating coins (altering and artificially toning)
Dealers who lie about a coin's attributes
Dealers who lie when selling and buying
Collectors who are arrogant towards those who disagree to the point of creating an us vs. them atmosphere.
You can't blame grading services for all the collectors problems. If YOU, as a collector, depend TOO MUCH on the grading services you will get burned. Who's responsible then? IMO, the services do a good job but I think collectors have depended far too much on the services opinion and have lost the desire (or whatever you call it) to do their own THINKING. Who's opinion matter most? It should be the collector him/her self. After all, who is paying for the coin?
jom
al h.
I will say that as a beginner I got ripped off a few times. come to think of it, as a beginning stock investor i paid my dues, learning to ski, scuba dive, play golf, etc, I paid my dues, when I was starting out in business I paid my dues... and I'm sure the next thing I'll try, I'll pay my dues too.
can't make it easy for everyone you know, you just have to be straight with people and things will work out.
Liberty: Parent of Science & Industry
Thanks for telling both sides and kinds of dealers you have worked with.
TBT
the few crooked dealers/coin doctors.
I am not too happy with PCGS and NGC either. If I am right, they spend 10 seconds grading a $20 coin and 10 seconds grading a $20,000 coin. I think they should allow more "seconds" to a coin that is valued over $10,000, and in the extra time might also look for any signs of doctoring.
I also think the grading companies are in the best position to determine who the coin doctors are and that they should put whatever pressure, legally in their power to shut them down.
Otherwise, I am going back to Booze, fast women, and a new Viper.
I believe this industry acceptance has lead to more dipping and cleaning than was being done years ago when the 2 major services first started grading coins.
<< <i>you know, in a way the TV coin vault guy is bad, because the stuff is soooo overpriced, but if he brings people into the hobby who then seek out, shall we say, more competitively price material, and who's tastes then mature into developing a more advanced collection, well... >>
But on the contrary... a lot of people realize they got burned, then they leave the hobby, figuring everyone is out to get them... not pretty... not pretty at all!!!
Jeremy