Rick Tomaska

TigersFan2 · September 19, 2015 12:18PM

Is Rick Tomaska considered to be a respectable coin dealer or respectable person in the coin industry?

When I'm channel flipping, I'll often stop for a few minutes on one of the shopping networks where he seems to frequently over-hyping common date coins. Usually I can only take a couple of minutes as I get really ticked off with how he's over-hyping coins to sell way above what someone could buy the same coin from a reputable dealer or Ebay.

For example, tonight while I was flipping through and stopped for a couple of minutes, he was selling MS64 and MS65 1921-P Morgan Dollars graded by PCGS and NGS. In his over-hype, he was claiming that 1921-P Morgans in high grades are some of the rarest Morgans. Then he showed printouts of Ebay auctions where 1921-P Morgans in grades below MS64 were selling for $300 to $600. (I just did a search of Ebay sold or completed auctions and can't find any MS63s listed in that range, yet he showed all these printouts of such Ebay auctions.)

When I see this over-hyping, all I can think of is that the people that are buying are people who are believing every word he's saying and someday they'll discover that they've over-paid for their nice coins.

When he finally got to the prices, it was $99 for MS64 (PCGS price guide is $74) and $259 for MS65 (PCGS price guide is $165).

Bochiman · September 19, 2015 1:23PM

He's definitely considered to be an expert in his area of interest in the half-dollar area (Franklins).
Never dealt with him myself, nor have I been enticed by his prices.

Walkerfan · September 19, 2015 1:55PM

Rick is an expert in Franklins and Kennedys (most especially PROOF examples).

Yes, his prices are higher but he sells quality items.

A relative of mine purchased some SMS Kennedys in superb gem 67.

He definitely overpaid a little for them but he is still happy with them and they are very nice examples.

BG · September 19, 2015 3:12PM

Rick has written two books on modern proof coins.

I've bought and sold with him. He's not afraid to pay up for the right coin and yes his buy prices are high but the coins are all there.

One I purchased from Rick:

lordmarcovan · September 19, 2015 3:19PM

Definitely a recognized name.

Coin Finder · September 19, 2015 3:43PM

He is the reason we have...."Cameo" and "Deep Cameo" designations....

Boosibri · September 19, 2015 4:07PM

Has buying coins from TV every left a buyer with good value?

oih82w8 · September 19, 2015 5:48PM

My silver (1964 PCGS PR68CAM) Kennedy was purchased from Rick a couple of years ago. We have bought and sold amicably.

Treashunt · September 19, 2015 6:27PM

<< Has buying coins from TV every left a buyer with good value? >>

no

sparky64 · September 19, 2015 9:01PM

<< Is Rick Tomaska considered to be a respectable coin dealer or respectable person in the coin industry? >>

Take a look at the Red Book Guide to Franklin & Kennedy half Dollars. I think he knows his stuff.

I've never dealt with him, however.

JCLIGHTBRIGADE · September 19, 2015 9:49PM

I thought I heard or read somewhere he taught the PCGS grading team how to recognize CAM & DCAM at one point in time. IIRC.

TigersFan2 · September 19, 2015 10:30PM

Ok.... So Rick Tomaska is a knowledgeable and respectable person in the coin business. So why is he hawking over-priced coins on the shopping networks with dubious claims? It's like he's moonlighting as a dishonest used car salesman. When I've seen him hawking coins, I watch because it's like a train wreck and I can't believe anyone is buying his hype.

I've always thought these coin sales on the tv shopping networks are bad for the hobby because if anyone who purchases ever looks up on the internet the true value of what they purchased, they'll see how they're being ripped off.

For an example of what these tv shopping networks try to sell...

One TV Shopping Network Website

For example, a $139.95 plus S/H for an ANACS MS63 Morgan common date.

cladking · September 19, 2015 10:34PM

<< Has buying coins from TV every left a buyer with good value? >>

It can happen.

People need to remember there is significant overhead with TV coin sales so prices will be full retail.

The only time a typical collector should buy from a TV show is when they have an exclusive item.

PollywogRancher · September 19, 2015 10:49PM

Oh, enough with the whining regarding the TV sales of coins. It's been beaten to death on these boards since their inception.

Some simple facts:

The shopping network takes 30 to 40% of every sale. I believe that there is a no excuses 90 day return window. The vendor does not receive payment for the sales for 90-120 days. Just how long could a coin dealer remain so by selling at gray sheet or whatever standard price listing in the business? Could you? He still has expenses and (GASP) still has to make a profit.

TigersFan2 · September 19, 2015 11:00PM

<< Oh, enough with the whining regarding the TV sales of coins. It's been beaten to death on these boards since their inception.

Some simple facts:

The shopping network takes 30 to 40% of every sale. I believe that there is a no excuses 90 day return window. The vendor does not receive payment for the sales for 90-120 days. Just how long could a coin dealer remain so by selling at gray sheet or whatever standard price listing in the business? Could you? He still has expenses and (GASP) still has to make a profit. >>

But it's the dishonesty in the hype given in trying to sell the coins. For example, last night Rick Tomaska was citing Ebay auctions that the 1921-P in sub-MS64 grades were selling for $300-600. In showing these supposed Ebay auctions, one was for an AU58 1921-P Morgan with a $299.95 price tag. Afterwards I did Ebay searches of completed and sold auctions and couldn't find any 1921-P Morgans in grades below MS64 that were either sold or listed in the price ranges Rick Tomaska provided. They shouldn't be dishonest in their selling.

NickDanger · September 19, 2015 11:05PM

I watch those cable TV coin shows from time to time but have never ordered any coins from them.
99.9% of the times the items are wildly overpriced or just plain shlock (like gold plated state quarters).
But Tomaska wrote the book on Franklin and Kennedy halve dollars and has offered some gorgeous coins, albeit at high prices.

PollywogRancher · September 19, 2015 11:11PM

"Completed and Sold" then again, it could have been an unsold BIN

Or once in a while, an item sells for stupid money and I'm sure that a printout was made to be used as a sales tool. In all likelihood, the sale record has fallen off the history. Anything is possible.

Rarely does anyone profit from purchasing from the TV sales folks, then again, one can say the same thing about buyers purchasing from the US Mint.

TigersFan2 · September 19, 2015 11:12PM

Another thread I found

TigersFan2 · September 19, 2015 11:15PM

<< "Completed and Sold" then again, it could have been an unsold BIN

Or once in a while, an item sells for stupid money and I'm sure that a printout was made to be used as a sales tool. In all likelihood, the sale record has fallen off the history. Anything is possible.

Rarely does anyone profit from purchasing from the TV sales folks, then again, one can say the same thing about buyers purchasing from the US Mint. >>

I searched both completed auctions and sold auctions and couldn't find any that were in the ballpark of the auctions he was citing to justify his inflated prices. Perhaps they were auctions from several years back when silver approached $50/oz. Anyway, he comes across as utterly dishonest despite whatever his reputation is with cameo coins and Franklins.

LindeDad · September 19, 2015 11:50PM

How long ago did he write the book and how many sold. Many writers end up starving because they can't eat the leftover books. And even experts have to eat right.

TwoSides2aCoin · September 19, 2015 11:52PM

Buy the coin, not the cable service.

TigersFan2 · September 19, 2015 11:52PM

<< How long ago did he write the book and how many sold. Many writers end up starving because they can't eat the leftover books. And even experts have to eat right.

>>

But does the need to eat justify being dishonest to earn a buck?

braddick · September 19, 2015 11:52PM

His PCI "Signature Series" coins were pretty cool.

(He's the only dealer that would purchase, sight unseen, 500 modern proof sets I had. He even allowed me to drop them off at his residence so I saved on shipping.)

brg5658 · September 20, 2015 12:25AM

I actually agree with the OPs concerns.

Whatever credibility Tomaska has or had goes up in smoke when you watch one of these programs. He and the other persons on these programs come across as downright disgusting hucksters when they are behind the camera on these cable programs. I'm not saying they are, I'm just saying they come across as such.

Also, knowing a thing or two about coin photography, the way that coins are photographed to over-exaggerate their cameo qualities in Rick's eBay shop has always bothered me.

On the flip side, I know many people who have purchased from him and who have been happy. So, I guess it's a bit of a dual perception.

roadrunner · September 20, 2015 12:40AM

<< Buy the coin, not the cable service. >>

Or the expert. In the end, it's only you and your coin.

I always liked reading the half and full page R&I Coin World ads many years ago. I was always impressed that someone could actually ask and get those kinds of prices.

coinlieutenant · September 20, 2015 12:56AM

Tomaska has been around a long time.

Big Franklin guy and he has broad knowledge of them. His prices are strong, and his margins are substantial. He is also a good promoter of coins on a rotating basis.

LindeDad · September 20, 2015 1:08AM

<< 

<< How long ago did he write the book and how many sold. Many writers end up starving because they can't eat the leftover books. And even experts have to eat right.

>>

But does the need to eat justify being dishonest to earn a buck? >>

So you believe every advertisement you see on TV? I really like the Roadrunner ones.

tincup · September 20, 2015 1:12AM

I have always enjoyed Rick's book on Cameo halves.

wondercoin · September 20, 2015 1:23AM

Braddick. I have bought maybe 5,000-10,000 modern proof sets sight unseen this year already. Have another (500) by chance?

. Wondercoin.

georgiacop50 · September 20, 2015 1:34AM

He has absolutely buried many new collectors who bought into the hype.

georgiacop50 · September 20, 2015 1:37AM

<< On the flip side, I know many people who have purchased from him and who have been happy .. >>

Their happiness vanishes every time if/when they they try to sell their RT purchases for anywhere near what they paid for them.

braddick · September 20, 2015 1:53AM

<< Braddick. I have bought maybe 5,000-10,000 modern proof sets sight unseen this year already. Have another (500) by chance?

. Wondercoin. >>

That was the last of them! If I never handle another modern proof set again, it can't be soon enough.

rhedden · September 20, 2015 1:59AM

He has been criticized on this forum for creating a market that is a one-way-street. On the other hand, he has done much for the hobby by popularizing cameo proof coinage. As is often the case, it's not a black and white world (awful pun

), meaning he's not all good or all bad.

Elcontador · September 20, 2015 2:08AM

Turn on your PM function.

brg5658 · September 20, 2015 2:31AM

<< 

<< On the flip side, I know many people who have purchased from him and who have been happy .. >>

Their happiness vanishes every time if/when they they try to sell their RT purchases for anywhere near what they paid for them. >>

Yes, thus the reason for the rest of my post which you ignored in your quote. I don't like the guy's business practices, but I do know some people who certainly know their stuff who have purchased from him. His prices are strong, his hype is out of this world, and his pictures are misleading (at least on eBay). I'd never recommend buying from him...just my opinions.

Walkerfan · September 20, 2015 2:38AM

<< 

<< 

<< On the flip side, I know many people who have purchased from him and who have been happy .. >>

Their happiness vanishes every time if/when they they try to sell their RT purchases for anywhere near what they paid for them. >>

Yes, thus the reason for the rest of my post which you ignored in your quote. I don't like the guy's business practices, but I do know some people who certainly know their stuff who have purchased from him. His prices are strong, his hype is out of this world, and his pictures are misleading (at least on eBay). I'd never recommend buying from him...just my opinions. >>

I think that people are safer buying lower value coins from him but I'd stay away from bigger money coins where the disparity is larger. Not percentage-wise but dollar-wise.

joeykoins · September 20, 2015 2:45AM

A salesmen sells! That's all that Rick is doing. Like mentioned earlier, "buy the coin, not the cable show". I love Rick's Kennedy/ Franklin book. Every Kennedy/Franklin lover should own Rick's version.

lasvegasteddy · September 20, 2015 2:56AM

i don't like his imaging and believe he should know better
no scooby snacks for him just because of that

bosco5041 · September 20, 2015 3:23AM

I don't know for sure but did he not start out as a sidekick on another coin TV show? before getting his own. Maybe he seen how much money could be made by the large TV crowd.

Baley · September 20, 2015 3:27AM

Maybe both the buyers and sellers of coins on TV should be ashamed of themselves, the buyers for being naive and gullible, and the sellers for preying upon them with half-truths and hype

TigersFan2 · September 20, 2015 3:51AM

<< I don't know for sure but did he not start out as a sidekick on another coin TV show? before getting his own. Maybe he seen how much money could be made by the large TV crowd. >>

Barry Chappell is another snake oil salesman on those coin tv shopping network shows. If you do a Google search on him, it's not pretty and I think he was an associate of Rick Tomaska at some point.

EagleEye · September 20, 2015 4:30AM

Rick has bought many nice proofs from me on eBay. Glad he's a strong buyer.

TopographicOceans · September 20, 2015 5:58AM

Years ago there was a 1959 PR68DCAM Franklin with a $900 BIN.

I bought it and when I clicked to pay eBay said another buyer had already purchased it.

Rick had it listed a week later for like $5k, which is what it is worth.

I missed it by that much.

joeykoins · September 20, 2015 7:08AM

<< Years ago there was a 1959 PR68DCAM Franklin with a $900 BIN.

I bought it and when I clicked to pay eBay said another buyer had already purchased it.

Rick had it listed a week later for like $5k, which is what it is worth.

I missed it by that much.

>>

That was funny. Don Adam's catch phrase.

sparky64 · September 20, 2015 7:34AM

<< Barry Chappell is another snake oil salesman on those coin tv shopping network shows. If you do a Google search on him, it's not pretty and I think he was an associate of Rick Tomaska at some point >>

I can do a Google search on Mother Teresa and find that she was a scoundrel or on John Wilkes Booth and learn that he was a saint.
Not sure where all this is going?

Cougar1978 · September 20, 2015 8:24AM

He is a well known expert on proofs, especially Cameo's. As a result of reading his books I have pursued Cameo Proofs, especially in the Franklin series. His book about Brilliant and Cameo Proofs of the 1950-70 era is in my library and a must have.

cameonut2011 · September 21, 2015 10:32AM

How accurate are his images? Are the images juiced in any way?

georgiacop50 · September 21, 2015 11:49AM

The images are completely unrealistic, using low tech lighting tricks to enhance contrast and/or color.

SoCalBigMark · September 21, 2015 12:00PM

I don't really have a problem with Rick, he pays strong for the right coins. He does know what dates and mints are rare for FBL's, cams and ultra cams. His pricing schedule of course takes that into account. You know what I want to see? Someone stickering DMPL's, they are all over the board! What if some dude who takes great pics had a sticker?

lasvegasteddy · September 21, 2015 12:56PM

<< How accurate are his images? Are the images juiced in any way? >>

here's a link to his ebay...stroll through some of his images and see for yourself

http://www.ebay.com/itm/1964-Roosevelt-NGC-PF-69-ULTRA-CAMEO-BLACK-AND-WHITE-CONTRAST-/181878123625?hash=item2a58c7ec69

TigersFan2 · September 21, 2015 1:05PM

<< I don't really have a problem with Rick, he pays strong for the right coins. He does know what dates and mints are rare for FBL's, cams and ultra cams. His pricing schedule of course takes that into account. You know what I want to see? Someone stickering DMPL's, they are all over the board! What if some dude who takes great pics had a sticker?

>>

I don't think the issue is what he pays for coins or how he prices coins. I think the issue is his hype and half-truths on his tv shopping show. On the show, he has a definite integrity/ethics problem.

Rick Tomaska

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