Coin Vault

dustified1234567

Anyone ever watch those coin shows on TV? I am watching the coin vault just for the heck of it and they are offering an 1887 Morgan in MS-63 NGC from the Mclaren collection for $42.95. Any idea why they would sell this coin for under value?

cladking

It's on Ion right now in Chicago. It's broadcast ch 38.1

It's always interesting but I usually will warn people not to buy unless they're sure they know what they're doing.

There's nothing wrong with quality or service but [prices are usually quite high; nearly full retail or more.

cladking

Who'd a thunk it?

The guy was saying that most of the highest grade coins come from mint sets. He was selling
a complete Kennedy set from mostly mint and proof sets for $1000 at the time.

I'd wager there weren't any of the typical junk you see if you look at sets and rolls but that there
were precious few gems as well. Usually sets like this exclude the dregs from mint sets which
means the worst 10 to 30% are excluded but the top few percent are missing too.

I never imagined hearing that the best coins are in mint sets right on TV!!!! This always seemed
to be the best kept secret in the country until a few years ago. Untill 1998 the mint alwaysre-
ferred to these as being just like any otherb coins but even a cursory look will show otherwise.

RWB

The quality of coins coming out of the press hoppers is quite high. It is only later that they acquire marks, scrapes, etc.

In my opinion, the mint should scrap the special "satin" coins, and simply use coins fresh from the press. If handled individually as they come out of the coining chamber, they will uniformly be MS-68 or better.

ricko

I cannot watch any of these TV coin sales shows. They make me retch. Have seen too many people hurt by them. Cheers, RickO

AUandAG

What makes you think this common Morgan in MS63 is under value?
Seems a bit high to me. Here's the same thing on Ebay for $36.00.


Ebay link

bob

cladking

<< <i>I cannot watch any of these TV coin sales shows. They make me retch. Have seen too many people hurt by them. >>




My problem with Coin Vault is a little different than this but your point is well taken.

It's not really fair to lump them in with the others since they rarely sell things for several
times the true value unless there's a lot of value added. Of course if people are spend-
ing a lot of money they can't afford to lose it makes little difference if they get fifty cents
back on the dollar or fifteen.

cladking

<< <i>The quality of coins coming out of the press hoppers is quite high. It is only later that they acquire marks, scrapes, etc. >>



This is true now days for most coins but it certainly hasn't been true during
most of the modern era and especially in the early days of clad. These coins
were lightly struck by poorly aligned and worn out dies in most cases. Cu/ ni
clad doesn't take a strike well anyway but they weren't even trying in the old
days.

It's really been only the last five or six years that quality has made a signifi-
cant improvement. Most of the coins are still scratched up when they leave
the mint but at least they're better made now.



<< <i>
In my opinion, the mint should scrap the special "satin" coins, and simply use coins fresh from the press. If handled individually as they come out of the coining chamber, they will uniformly be MS-68 or better. >>



I'm coming to agree. The SF wasn't a terrible idea but it took away everyone's
source of good quality coins for collections. If this had been done in conjunction
with sales of nice choice rolls of each denomination it would be easaier to sup-
port.

But I disagree that they should lower the quality of the mint set coins by just
using run of the mill coins like before 1965. While quality is improved it is still
far below what it was when silver was made. To get gemmy coins once in a
while there is probably no choice but to make the coins on special presses at
higher pressure and lower speeds. Dies are replaced so rarely on regular
presses that workers would often gather up coins from dies beginning to ex-
hibit wear.

The "mint set coin" concept is a good one but they should return to being indis-
tinguishable from the regular press runs.

BillJones

Common date BU Morgan Dollars have been really hard hit by the current recession. The collectors who are on a budget can't afford to buy them. The current bid/ask is $37/$40, and I'll wager that you can buy them in bulk for less. I've also seen some grades that were all over the place for bulk grade dates like this. These coins are not as big a rip-off as normal for the Coin Vault, but they are no bargain either.

sparky64

I've been flipping to it quite a lot lately.
I like when they have a variety of things.
Had some '40's & 50's Proof sets, Cetified GSA's and other cool things to look at.
Will never buy but enjoy looking.

RyGuy

<< <i>What makes you think this common Morgan in MS63 is under value?
Seems a bit high to me. Here's the same thing on Ebay for $36.00.


Ebay link

bob >>



But where's the pedigree?!?!?!?!?!?

astrorat

Did someone mention Coin Vault?

ElKevvo

That is a neat slab Lane...

K

MsMorrisine

Coin Vault on here. ION channel


Selling NGC 2009W PF70 platinum proof for upwards of $4000 and pf69 around $2500. They purportedly sold 1 of the 2 remaining 69s, too.


""the only other place I've seen offering them is another show with 3 letters and for $_____ ((much more))""


and some coin or coins for $60... but that includes the $20 NGC box.... so it is more like $40.



amazing.

NotSure

Coin Vault has toughed it out, really. I remember back in the late '90's, that Chambers guy hawked his wares on Shop-At-Home with the head of Chattanooga Coins, Lewis Revels. Back then, they sold a majority of raw items (mostly crap from what I recall....yeah, I'll admit thats when I actually bought something from them...a roll of 1986 ASE's, in a Mint tube....it IS worth alot more than I paid for it, which is unusual, and it's the ONLY thing I have ever bought from them). They weren't pushing the new moderns like they do now, back then. The errant graded coins they sold were in PCI slabs, back then. Following those early days, Revels left (effectively ending their association with 'Chattanooga Coins', leaving them without a major wholesaler to supply them with merchandise...but it was a relief, as Revels fingers and fingernails looked like those sellers on ebay that hold their coins in their hands, and they look like they just finished gardening...for a month straight). The show/on-air personalities became more 'professional' (their clothing went from jeans/golf shirts, to suits/ties), as they became affiliated with 'Silvertowne'. Then, when Shop-At-Home went down, they bought airtime on their own, though still on the SAH network.

After SAH was done, and Coin Vault needed a new home, I recall Chambers tried one of the other 'home shopping' channels, but that was very short lived (that Mezack character left whichever network he was on for a short time, then came back, and Chambers was gone). Thats when they went and joined up with Coin Country (changing the name from 'Coin Country' to 'Coin Country Coin Vault'.....even allowing Chambers to shed the designer suits, as he (and his sidekick Houk are back to wearing jeans/golf shirts). Since going to DishNetwork, they have expanded, and got a new piece of cable, recently having joined ION (as was mentioned earlier), and also on CSN (I believe that's a non-24 hour shopping network). They have grown exponentially since joining up with Silvertowne, as they now are one of the (if not THE) biggest submitters to NGC (the HSN, ShopNBC and QVC coin shows use MOSTLY ANACS and ICG, but do have alot of NGC coins), and deal mainly in ultra-moderns (naturally, with ultra prices). It's funny, as NONE of these shows offers more than a VERY minimal amount of PCGS graded coins.

Like them or not, they obviously move ALOT of product (obviously to those who are undereducated in the hobby). You may ask yourself how I know all this.....it's simply because I have watched it (I'm an insomniac, and leave it on for 'white noise' while trying to fall asleep), or it's on specifically for background noise . Also, you CAN actually pick up some tid-bits of true info, so it isn't 100% BS.....perhaps ((.((% BS, but not 100%.