Coin of the month club

Newave

I have seen a full page ad in Numismatic news for a coin of the month club.
The charge your credit card once a month and supposedly send you a coin at about 60% of retail. Has anyone any info on this?

RGL

Welcome newave ... I would tread cautiously on such "deals." What dealer is offering it, since I don't subscribe to NN?

Baley

don't do it.

their "retail" will be high and based on an overgraded coin.

for example, you will probably get charged $60 for a $40 coin (MS63) that they have a retail price of $100 on (calling it an MS65)

you're better off shopping around for your coins, and choosing them yourself.

wingedliberty

Typical garbage in the tradition of Littleton. Avoid it like the plague.

kranky

Even if the coins are slabbed by the big services, it's likely they will be the bottom-of-the-barrel coins. Not every slabbed coin is nice. These could be coins that are difficult to sell sight-seen. And as Baley said, who decides what "retail" is? It's too easy to inflate prices then offer a big discount to give you the impression you're getting a bargain.

I grabbed my copy of NN and I'm assuming the ad you are talking about is the one on the back cover. Let's look at the ad copy a little closer. You will get MS65 coins graded by PCGS and NGC; so far, so good. "You will receive up to $200 retail value on every $99.50 you spend". That "up to" could mean anything. It could mean you get $100 retail value for your $99.50. Also it says "you will save 70-80% off market peak prices". That is completely irrelevant, since market peak prices (from the 1980's) don't mean a thing today.

There's a well-known saying: "There is no Santa Claus in numismatics."

nwcs

Send me your credit card info and I'll send you a coin every month.

If you would not trust me, why trust them?