Finally Saw "The Coin Vault"

BonPecheur

I have heard a lot about this show on here and I am watching it for the first time as I write this. Right now they are selling the 2006 Proof Gold Eagle 4 coin set for $2,499.95 ! You can get them from the mint for $1,350.00 !

How can they get away with that ? Who is buying these items from them ? Do they really sell a lot ?

ER

Welcome to the club.

millennium

Did you see the ancients coin collection they had for almost $1300.00...15 coins all silver....I wonder what that would actually cost ...

Hyperion

caveat emptor...

it shocks me what I see people spend for bullion on ebay, or common slabbed stuff that they can get perusing the inventory at places like apmex...
why overbid for an MS62 liberty ? they can demand a price fixed to gold spot...

Freak1c

<< <i>Who is buying these items from them ? Do they really sell a lot ? >>



Actually, you would be surprised to see what they bring in on that show annually.

Freak

ziggy29

Congratulations. Now you need a shower because of how dirty it makes you feel!

Hadleydog

The lowest of the low, those that feed on our senior population.
As ziggy29 said, you almost need a shower after watching it.

Burks

I watch it just to see what crap will spill from their mouths each show.

"YOU WILL NEVER SEE A COIN GRADED LIKE THIS EXCEPT ON THIS SHOW" *checks Ebay* Hey would you look at that? About 50 of them in the grade mentioned or above. 1/2 the price too.

kiyote

I *hate* when they talk about "condition condition condition" when showing the gold/platinum plated nickles... I think it's fraud!

MrKelso

<< <i>

<< <i>Who is buying these items from them ? Do they really sell a lot ? >>



Actually, you would be surprised to see what they bring in on that show annually.

Freak >>



I was watching the show late last year and the big guy said Thank you for a banner year and mentioned that they sold "a billion dollars worth of coins"

Michigan

Years later they will bring the stuff into a local coin shop to sell
and then receive the bad news, I can just imagine the conversation:

"But I paid $______ from the coin vault, they said it was a good deal".

Sorry, it is only worth $_______.

"You are a bunch of crooks....." followed by swearing and stomping
out the door.

I'm sure a scenario like this has played itself out a number of times.

100proof1957

i just turn it on when i want to wake up the lady of the house and pizz her off !

actually if ya watch every episode,bout once a year they will run something at a fair price !

BAJJERFAN

<< <i>"But I paid $______ from the coin vault, they said it was a good deal". >>



It was a good deal: FOR THEM. Lots of people don't know that you can buy right from the U.S. Mint. They see this stuff being hyped on TV and think that they are getting a good deal or making a wise investment when in reality they are getting hosed.


Too bad the Mint doesn't promote their stuff in a similar way.

Tyrock

I was going to write about the same thing. They're also selling 2006 Silver Eagles for $59.95 when you can buy them from the mint for $27.95. It's scary to see how corrcet P.T.Barnum was, isn't it? And I'll bet that some of these poor people paying twice retail for a coin will drive a few extra miles to save .05 on a gallon of gas!

MadMarty

<< <i>Years later they will bring the stuff into a local coin shop to sell
and then receive the bad news, I can just imagine the conversation:

"But I paid $______ from the coin vault, they said it was a good deal".

Sorry, it is only worth $_______.

"You are a bunch of crooks....." followed by swearing and stomping
out the door.

I'm sure a scenario like this has played itself out a number of times. >>




I have seen it many times at local dealers. Same with a lot of the Franklin Mint stuff from the 70s!

rmoss

What gets me is all the NGC stuff they have. Are they in bed with NGC?

Michigan

<< <i>What gets me is all the NGC stuff they have. Are they in bed with NGC? >>




I believe they have a businessl relationship with NGC to supply them with coins.

rmoss

<< <i>

<< <i>What gets me is all the NGC stuff they have. Are they in bed with NGC? >>




I believe they have a businessl relationship with NGC to supply them with coins. >>



By that I meant do you think they get preferential treatment on their grades?

BAJJERFAN

I wonder if the NGC graders even look at the stuff. I bet most of those silver eagles go straight from the monster box and into a holder or they have one person give them a once over either before or after they are slabbed. Why would you tie up a serious grader's time lookin at ASE's while a customer's real coins are waitin and waitin.

100proof1957

i think the grades are on the up and up,likely no different than the giant PCGS submitters

Its the BU coins they sell that are suspect,and they admit that only one grader looks and finalizes those.

Heck even PCGS sold out to em when they graded the Bugs Bunny Frankies as BU and they dont even attribute those !

rmoss

I thought the "Bugs Bunnies" were like the "Bar Nickels" of 1960, just a passing craze.

Burks

There's another show "can't remember the name" that sells almost all ICG stuff. Nothing against ICG but man......$70 for a MS69 silver eagle? No thank you. I'll go buy one from a tube for $11.

carl

Part of the problem is how many people watch programs like that. Then they tell thier friends who tell their friends, etc. The more watchers the better the chances of someone buying the stuff. It's sort of like buying a used car. You just don't know what your really getting. Those TV people are in the buisness to make money and somehow they manage to take in enough people to do it. If there are 5 million people watching, only a few percent have to buy to make it worth it. To bad we don't have a few million viewers here to counter those types of shows. One good reason to spread the word about this forum to everyone you know.

rmoss

<< <i>Part of the problem is how many people watch programs like that. Then they tell thier friends who tell their friends, etc. The more watchers the better the chances of someone buying the stuff. It's sort of like buying a used car. You just don't know what your really getting. Those TV people are in the buisness to make money and somehow they manage to take in enough people to do it. If there are 5 million people watching, only a few percent have to buy to make it worth it. To bad we don't have a few million viewers here to counter those types of shows. One good reason to spread the word about this forum to everyone you know. >>



I have had people at work that know I dabble with coins ask what I think about the Coin Vault. I always tell them under no circumstances buy anything from them unless they want to pay twice what it's really worth.

Steve

We WATCH "Coin Vault" because the show is about COINS and we all love coins. It is that simple. We should not worry what other people do with their money. Believe me, lots of people waste their money or overpay on lots of things. Enjoy the show for what it is. ENTERTAINMENT. I love Robert Chambers and Paul Hollis. I love Prime time Monday night. I love those 50 years of Proof Sets display. I bet most of you guys agree with me. Steve

Mark

What I wonder about Coin Vault is precisely how representative is its prices of the prices of the other stuff that is sold on HSN? In other words, we all know that the coin prices on HSN are vastly inflated. Does this fact mean that the prices of everything sold by HSN inflated? I have never purchased anything from HSN because of this fear. So, what do you think: Are the prices of everything, not just coins, on HSN much higher than prices of the same stuff elsewhere?

Mark

Coxe

Not sure which program program that is, but I have been seeing this guy hawking plated state quarters almost constantly on cable TV. He doesn't lie in his deception. ("The Mint with NEVER produce another 1999 quarter!") I see he compares the value with ones from a print ad and wonder what gonniff is selling that crap for those even higher prices. Nonetheless, I have seen schemes in the four decades of my collecting and suckers seem to be born at a frequency higher than one per minute.

PhillyJoe

"BU Morgans at a price you'll only find at HSN"

Ain't THAT the truth.

Joe

kiyote

<< <i>"BU Morgans at a price you'll only find at HSN"

Ain't THAT the truth.

Joe >>



I bet they were laughing thier heads off when they wrote that one...

MrBreeze

I guess I have a couple of questions. Has anyone ever seen/heard a "reputable" dealer make a claim considered, let's be nice and say, overly optimistic? Has anyone ever seen/heard a "reputable" dealer offer a coin at twice what would be considered the market value? Has anyone ever seen/heard a "reputable" dealer say or do something that, you would say, "that is BS and he/she should not have done that to that customer?" Have you ever bought a coin form a reputable dealer that is painfully overgraded or cleaned, with no mention of the cleaning? In my coin collecting life (25+ years), my answer to those questions is "yes," several times over. Why is it that a TV show should draw so much scrutiny, when the people who are "supposed" to be the models of integrity and support for our passion, are doing the same things? If you don't like it, don't watch. Your opinion is your opinion and I appreciate every single one. But, don't forget to look all around you before pointing the finger.

aficionado

Look on the bright side, you can show the wife what your coins are selling for on HSN, and point out what a great deal you got, AND how much money your actually MAKING....

gonzer

Those guy's belong on Jerry Springer's show.

JoshL

I find that I can't turn it off once I click on that show...I have to force myself to turn it. It is worth little more than a good laugh.