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TV Coin Sellers
Icollecteverything
Posts: 1,029 ✭✭✭
I think we can talk about this as long as we don't name names,,? I sometimes watch them purely for entertainment purposes, the little lady tells me to change the channel because she knows that soon I will be yelling at the TV.
Anyway, I was trying to figure out why they talk so much. They drone on and on aboutall kinds of unimportant trivia and meanwhile they're not selling! One guy recently was making a big deal about that this coin was the FIRST ever to be struck in .9999 fine silver. That's 4 nines! They go on about the metal content then they price it at 10 times the bullion value.
Then they always start at a ridiculously high price and take it way down in steps (cause they are CRazY!). When he got down to the final sell price he proclaimed that if HE could find these coins at this price he would buy every one of them........what?
I realized that the more they talk they give you information that would lead a collector not to buy from them. Then it dawned on me, duh, they don't want people to buy from them that know anything about coins. That would lead to complaints and returns. They want the lowest common denominator, someone who would believe everything they say, and think they got a great deal.
Anyway, I was trying to figure out why they talk so much. They drone on and on aboutall kinds of unimportant trivia and meanwhile they're not selling! One guy recently was making a big deal about that this coin was the FIRST ever to be struck in .9999 fine silver. That's 4 nines! They go on about the metal content then they price it at 10 times the bullion value.
Then they always start at a ridiculously high price and take it way down in steps (cause they are CRazY!). When he got down to the final sell price he proclaimed that if HE could find these coins at this price he would buy every one of them........what?
I realized that the more they talk they give you information that would lead a collector not to buy from them. Then it dawned on me, duh, they don't want people to buy from them that know anything about coins. That would lead to complaints and returns. They want the lowest common denominator, someone who would believe everything they say, and think they got a great deal.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
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What an amazing find!! We only have 10,000,000 to sell after that their GONE!
Or how about how they go on and on about the .999 silver/gold/platinum PLATING. As if the few cents worth make theses just as valuable as bullion.
"This isn't the bullion coin that they made 40 million of. This has a W mintmark on it and goes through a special burnishing process and is much rarer than the bullion coin and therefore much more valuable."
A couple items later....a bullion silver eagle in MS70.
"The single most important factor in a coin's value is its condition. And this one has been certified as perfect!"
But didn't you just say that they made 40 million of them.?
<< <i>I think we can talk about this as long as we don't name names,,? I sometimes watch them purely for entertainment purposes, ................ >>
I do not find them entertaining in the least bit as everyone of them are liars and shills, preying upon the ignorant of which, there appears to be quite a few.
The name is LEE!
<< <i>I do not find them entertaining in the least bit as everyone of them are liars and shills, preying upon the ignorant of which, there appears to be quite a few. >>
Whats worse is when they bring the junk to a B&M like ours, we look like the bad guy for telling them its worth melt at most. Or nothing at all in most cases.
<< <i>It is so sad when someone you know gets taken by these hucksters.... Two people in the company I used to work for brought in coins they purchased from these guys.... and when myself and another knowledgeable collector told them what they were really worth they became indignant (outraged), said we were ignorant and never did talk to us again. Yes, people hate to be scammed, but even worse, hate to be told they were scammed. Very sad. Cheers, RickO >>
i know a couple of people that brought into that as well and still swear by it to this day. yes it is still sad.
<< <i>Well I suppose this makes a good thread for a short confession. Before I had a single clue about numismatics, I bought this foursome from one of the TV coin sellers. In fact, it happens to be the first set of coins I ever paid for, and it was completely on a whim, at a time when I had no business spending money on anything like this. This is what can happen after a few too many adult beverages while channel surfing at 2 am (their favorite kind of customer I presume). I think I paid over $200 for them. If the guy on the show was right, these are precious and rare and should be worth about $10,000 by now. So, yeah.
Hey - at least you got 4 dollars and a nice cherry wood looking box out of the deal
All kidding aside, watching the show and making this purchase may have helped get you interested in coin collecting. That is a positive thing!
I also made a purchase years ago from the same.
<< <i>Anyway, I was trying to figure out why they talk so much. They drone on and on aboutall kinds of unimportant trivia and meanwhile they're not selling! One guy recently was making a big deal about that this coin was the FIRST ever to be struck in .9999 fine silver. That's 4 nines! They go on about the metal content then they price it at 10 times the bullion value. >>
The first thing you have to bear in mind is that these shows are basically low budget operations. They don't spend money on fancy graphics or illustrated documentaries with classy voiceovers. All of they have to work with is their words.
Second, you have remember the target audience. Most of them are non-collectors or novice collectors at best. These people know little about coins, and the fact that you say the same things over and over might not sink in with them. In fact it might work because after you have said it the fourth time, they might come to learn or believe it.
Finally there is the "gift of gab" factor. Some people are taken in by a smooth delivery and a convincing tone of voice. The best politicians are masters at this.
Back when I was in college I worked for a political candidate who was running for Congress. His opponent was super wealthy. He had graduated from Princeton University and went on to Harvard Law School.
This candidate came on campus to speak a student group, and a number of us went there to ask some pointed questions. This guy was so slick you could be lulled into a stupor by listening to his calm and cultured voice. His voice was so calm and re-assuring that even if you disliked everything he had to say, you could see were those who were on the fence could be persuaded by him. I think they must teach you that in law school, or at least the best law schools.
Needless to say this guy beat our candidate, but he got his comeuppance when he tried to run from president. He fumbled his opening press conference when he announced his candidacy, and it was all downhill for him from there.
I know a guy who bought a bunch of Redfield dollars from TV years ago, including a 95-S and a 93-CC. While he got ripped off at the time, he was whistling Dixie last year!
I am sure a lot of us didn't make the wisest purchases when we started but as long as you figured it out it becomes a positive.
It seems like these days most people who have internet would do a little checking first before you spend your life savings.
Fot the 2 who did buy from tv shows: Did they hassle you afterwards with phone calls trying to get you to buy more? Did they sell your phone number to the telemarketers?
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
And if people would only use google, the business models of these places would change dramatically.
<< <i>For the 2 who did buy from tv shows: Did they hassle you afterwards with phone calls trying to get you to buy more? Did they sell your phone number to the telemarketers? >>
No. I have never been contacted via phone or email directly from the seller. Don't know if they sold my info. I get random calls from some
"coin shop" in the North East about 3 times a year trying to hock "OBW" Franklins, but don't know how they got my info.
As it is now they kill the potential for appreciation on modern stuff by buying boat loads of stuff in an attempt to create demand that doesn't exist (and at a huge premium over market rate.)
I don't know how these folks sleep at night. I also can't understand why anyone would buy from them when there are so many avenues available to check prices.
<< <i>It is so sad when someone you know gets taken by these hucksters.... Two people in the company I used to work for brought in coins they purchased from these guys.... and when myself and another knowledgeable collector told them what they were really worth they became indignant (outraged), said we were ignorant and never did talk to us again. Yes, people hate to be scammed, but even worse, hate to be told they were scammed. Very sad. Cheers, RickO >>
I know the feeling. They are half-right, a rip-off did occur, just long before you ever got there. I had a guy, very sincerely show me his safe FULL of Ballistic Presidential Rolls he bought for $149 each several years ago. When I told them were worth $50 each he practically threw me out of the house. He also thought his one ounce Silver replica $100 bill could be cashed in at the bank for $100, so that tells you something.