Demise of "Coin Vault"

Codder

Do you think the demise of the show "Coin Vault" will be a negative for the hobby? Although their prices we're crazy high, they did often point me in a direction to try to find a particular coin or series at lower prices on eBay or through another dealer. Considering they sold $100 million worth of coins last year (according to Coin World), what will replace them as far as generating viewers/interest/eyeballs for the hobby? Plus, I just do not see the benefit to E.W.Scripps by not allowing the show and its format to be sold or continued. Also, this can't be good for NGC, since the show seemed to sell mostly coins graded by them. What do you guys think?

ddbird

I dont think it would have a negative affect...

Everytime I watch it he either lies about a coin...spins it so it appears more rare...decieves collectors...and man handles it with his grubby paws.

The only positive that came from it was the advertising of collecting itself, and it may have hooked a few people that otherwise would not be interested in the hobby.

TheRaven

I think it has to have an effect on NGC's bottom line without question.....

The graders will probably be happy that they will not be grading state quarters and SAE by the truckful however.....

If the sold 100 million last year that is probably what 50-75 million in actual numismatic material?

I can't believe other shopping channels will not try and fill the void that is left, be it by hiring the people that sold the material or by offering similar deals which they did.....

Also as entertaining bit of TV was lost, it was quite funny listening to them describe items on there show.....

I also agree that for new collectors they got many ideas on what they liked from watching the coin vault, no necessarily purcashing alot or anything from there, but just to see coins they had not seen before.....

anablep

Negative effect?

No.

Good bye to bad rubbish. The hosts of the show did nothing to improve the quality of our hobby, so their departure will not leave any meaningful vacuum in the hobby. eBay does more good for this hobby than that show ever will.

LanLord

<<Everytime I watch it he either lies about a coin>>

While I don't know if I can say they actually out and out lied on that show, they did stretch the truth further than it should ever have been.

Those guys were the biggest dufuses I think I have ever had the misfortune of watching!

100proof1957

I must admit that the show got me back into coins,having left right before the crash of 89 !

Though i never purchased anything from them !

DeusExMachina

I will definitely miss the entertainment aspect of the show. The hosts would always walk the BS line. I could only handle about ten minutes at a time though...

Cladiator

I always thought their plastic rolls to put dollars into were cool. The ones that are sectioned for each coin and have little stands built in.

BECOKA

Even though they were over priced, I agree, they may have brought a lot of people into the collector market. Once people get started there they would probably start looking around at other numismatic options.

It's a huge cycle and while it was not ideal I beleive there was some value in having them around. At least Comic value.

TheRaven

I was one person that they got interested in the coin market back in early 2001.....

Was tired of the sports card hobby and the sky high prices on packs of cards and so forth.....

This combined with the state quarters to grow my interest and the coin vault was a place to see alot of coins and learn somethings about coins, a bit of looking around on the net showed there prices and how far out of line they where without coupons (had a few of those which bought the prices in line).....

Steve

Last chance to see Rob & Paul on Coin Vault for 20 minutes. Follow these instructions:

Go to www.shopathometv.com
Click on the live TV link at the top of the home page.
Click on the Coins section to the left of the live screen

Enjoy the show one last time!

Steve

Boothill40

Only watched a couple of times never bought anything and at first I thought it was a joke, so IMHO no negative impact but then i'm still new at this and learning something new each week---Tom

cladking

I see consolation everywhere. I'm neither happy nor disappointed to see them bite the
big one but I find some consolation in the fact that they haven't been selling many mint
sets in recent months. Nor have they been selling much of any mint steate moderns. Also
their stock in all this material is very low at the current time so there won't be a flood of
it coming back on the market.

Coin Vault is dead, long live Coin Vault.

Chambers did claim that the show would survive but I'll believe it when I see it.

DennisH

Coin Vault's demise will mean, however, that there will be a ton more stuff/junk for the marketplace to absorb through other routes, likely depressing prices in the process.

TorinoCobra71

<< <i>Do you think the demise of the show "Coin Vault" will be a negative for the hobby? Although their prices we're crazy high, they did often point me in a direction to try to find a particular coin or series at lower prices on eBay or through another dealer. Considering they sold $100 million worth of coins last year (according to Coin World), what will replace them as far as generating viewers/interest/eyeballs for the hobby? Plus, I just do not see the benefit to E.W.Scripps by not allowing the show and its format to be sold or continued. Also, this can't be good for NGC, since the show seemed to sell mostly coins graded by them. What do you guys think? >>



NO!

Coin Vault was only good for one thing! Julie Tello!

TC71

MrKelso

There is always the other show for plenty of laughs and high prices. Jimmy Gerstel and that Laura and that Barry Chapleman on the Treasure Hunting show. I caught that show a couple of times
Talk about old time board walk sales pitches. Not $500 Not $400 Not even $300 $49 Dollars is your price for this rare AU 1964 Kennedy Half Dollar with the Buffalo on the back and Monticello on the front

Codder

Exactly my point, Dennis. More supply (because they're not selling it), and less demand (because the eyeballs--and wallets that followed the show are shut out) equals lower prices for everyone. Not good. Where would the hobby be without eBay? Worse off, for sure.

Tyrock

Exposing people to the hobby is a good thing, ripping them off isn't.

TheNumish

I have to say it will be very bad for my business. You have a guy who likes to buy coins watching the show and sees a 1986-2006 silver eagle set graded MS-69 for $1,200. The guy is interested. Sees my ad selling them for $700. Picks up the phone and buys the set. If he didn't watch the Coin Vault he never would have bought the set from me. So many of my customers told me they saw stuff on the show and that's what got them interested. Probably won't effect rare coins but it will have a big effect on modern coins. Will be interesting to see if the show pops on another channel. Silvertowne has so much invested in this project I can't see them not trying.

Petarded

TorinoCobra71...I HIGHLY agree with you on the Julie Tello thing...OH MYYYYYY, last time I saw her, she had a camo T-shirt on, ripped the sewn collar from around the neck, tight tight....you get my drift....and she was selling coins in that thing...bet they had a BANNER night that night....

Cladiator...that tube is actually called 'The Coin Vault'.....I actually bought a few of them (no, didnt buy their coins, just the vaults) and that must be the best thing that ever came from that show...

......besides Julie Tello!

relayer

People will have to buy their junk from eBay now

ChangeInHistory

I agree it gave coin collecting great publicity, but it also soured a lot of people when they found out how much they got jobbed.
Great to get people into the hobby but a terrible way to do it.

Manorcourtman

Good riddence(sp). At least newbies will be screwed the traditional way now via eBay and shady third party grading services.

MrKelso

<< <i>I always thought their plastic rolls to put dollars into were cool. The ones that are sectioned for each coin and have little stands built in. >>



Those things are Great, i picked up 4 of them at the Parsippany Coin show from a dealer there, they were used but in new condition. $I think i paid like 4 or 5 bucks a piece.

Stooge

Now that the "Coin Vault" is gone where will I go to buy 40 years of Proof sets for $1,000?

Everytime I seen that Paul Hollis dude tell me about the infamous 1963 PR70DCAM Lincoln that sold for $40,000 in a "Recent" auction, and that it is possible to get the same out of his sets, I just wanted to call the show and scream at him! What a loser!!!

What a lier and what deception! I think the world is better off having them OFF TV. Its one thing to have a hugh impact on the market by not having them around, but it is a greater impact by not having them circumvent false advertising.

Later, Paul.

jabba

Yes I thought the show was sad! I did get a kick out of thinking about the poor people who spent a lot of money there.
Dont worry I think they will be back as some one's cash cow.

Coindexter

<< <i>I always thought their plastic rolls to put dollars into were cool. The ones that are sectioned for each coin and have little stands built in. >>





<< <i>Cladiator...that tube is actually called 'The Coin Vault' >>



Actually they referred to this as the "Sure Safe Vault." I also bought the vault. I recently sold all of the big silver that lived in it. Now I have an empty plastic tube.

Time to fill it or grill it.

Coindexter

Also, the Coin Vault played a big role in me getting in to numismatics. Here are the conditions that led to me becoming a coin collector:

1) Obsessive nature
2) High degree of apreciation for artistry
3) High degree of appreciation for money
4) I was actively seeking a hobby (this makes me chuckle from time to time. who goes actively looking for a hobby? don't most folks just naturally slip into them?)
5) Due to my being part racoon I'm up all night almost every night and saw many hours of the Coin Vault

You can say what you want about the Coin Vault (I know I do), but an analogy I posted here a long time ago will always be true:

The Coin Vault was to numismatics what Nirvana was to punk rock in the 1990s.

For those never interested in Nirvana, punk rock or the 1990s, I'd apologize for the obscure reference if it weren't for the fact that you lucked out.

HighRelief

The Morgan's that they sold looked overly dipped

koynekwest

Some of the local dealers around here sure will miss it.

Julio

1st time I watched I was blown away. A show with coins. I fell in love instantly. then I checked my Red Book

MrBreeze

One thing I would say is similar to other's thoughts. If the show (or coin TV shows, in general) appealed to customers who might not normally be "coin collectors," then it certainly created demand. The market will be affected by the lack of $20-$50 million worth of buying to fill that demand. Who else is buying generic Morgans, mint sets, Proof sets and similar items. I will actually miss the show. You can learn from anything. My opinion is, if there was enough supply on the market that they could acquire enough for their purposes, then there was no need to own that item. Or, at the very least, never pay more than bid for such items.