JJ Teaparty monthly coin program in the early 80s
Gazes
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I remember back in the early 80s that JJ Teaparty had a program where you would choose an amount to pay per month and they would send you coins. The amounts varied and went up to some pretty steep amounts if you wanted to put a lot in. Back then I didn't have much money for coins but I remember considering it. Keep in mind this was pre internet and pre lots of things that we take for granted now. I was curious if anyone participated in the program and if so how did it turn out for them?
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I don't recall JJ Teaparty going this, but remember well that Littleton advertised their program heavily in things like TV Guide and such. I once had an opportunity to view a collection built largely around the Littleton program and all the coins were quite solid and without problems. The owner paid a lot for them upfront, but the market also moved up and they did very well in the end.
In honor of the memory of Cpl. Michael E. Thompson
I recall seeing ads for others in CoinWorld that offered this service, but don't recall JJTeaparty being one of them - but they could have been.
I didn't start working with JJT myself until around '87.
Bowers and Ruddy did it.
First Coinvestors also did this.
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
I didn't do the monthly deal but bought several coins back in that era. Two Mint State buffs ('38 d/d and d/s) IIRC and a 1972 doubled die cent. No internet, no photos, sent on approval. All were eventually sent to PCGS and graded higher than on the JJT flip. I should have bought more from them in retrospect.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
i remember littleton doing this but didnt know of the other doing that. its a good thing then
It was sometime during the 1983-1987 time frame---maybe my memory is playing tricks on me. Given their quality, I would bet that anyone who did it probably fared pretty well.
I thought they still had some kind of “monthly acquisition program” that’s promoted on their website?
I don't remember who it was(wasn't JJ Teaparty)...but I did this around 1987! I don't even remember the amount I did each month. They gave a free lot after 11 months on a monthly subscription. My subscription was for nice original Seated Coins in XF/AU. They or he had trouble finding me stuff! I believe it was 1 guy. I always received type coins when no Seated was shipped. I had to remind them after 11 months past I was due my freebie! I received a very Nice Seated Dollar...that I do remember and it was worth more than my monthly subscription price. I will say every coin I received was PQ but had to stop when my twins were born!
Dealers who have these programs are still out there. I remember reading some ad copy on such a program in "COINage" magazine a few months ago.
I am glad to hear that some people made out okay with these programs. Much of what I heard about tuned out to be a disaster for those who got tied up with them. Some dealers treated it like they had a fish on the line and reeeled them in with sliders that were sold and priced as
Uncs.
Seems like maybe they still have it (or something similar) - http://www.jjteaparty.com/monthly-acquisition-program.asp
Never did it myself but have delt with Gail and been happy with what I got.
I remember Teaparty doing that, but I did not participate.
I remember Teaparty doing that, but I did not participate.
I suspect most collectors who participated fared poorly. It's just too easy for dealers to package up inventory that isn't moving into these programs. Glad to see a few success stories here at least.
I didn't either although I bought a few from them back then, from Ed. Never got a bad coin. Once he forgot to charge me for a coin and I called him, I think he was ready to faint that someone would do that.
JJ Teaparty still does this. They call it their ‘Monthly Acquisition Program’. I’m impressed with JJT, and their inventory, but I would never personally be interested in such a program.
Dave
I never participated in these programs. However, my Mother purchased a coin for me years ago through Littleton.... then they started sending her coins monthly....I had to call them to make them stop... actually had to get pretty strong before they terminated the program. I was not happy about that....Cheers, RickO
After the 1st call telling them to stop you just keep what they send! It's totally legal and I did that several times as a kid with stamps!
After the 1st call telling them to stop you just keep what they send! It's totally legal and I did that several times as a kid with stamps!
I actually participated in both the Littleton and Bowers and Ruddy programs. I did not have much money maybe 50$ a month. Littleton would have a full page add for a silver dollar to get you to join their program, I bought a 1904o for 24$.
Their retail prices were very high. So I only stayed two months and bought a 1929 nickel ms 63 into a pcgs ms63 and 1908 one cent ms 63 rb to pcgs ms 64 rb.
I joined B+R next, their bust and seated coins were nice and graded higher. Modern not as much as I remember 1934 nickel ms65 to pcgs ms64 and 1909vdb ms65 to pcgs ms 64 red.
One coin that was a loser was a 1859o half dime au50 that I paid 159$. I was at a coin show that CaptHenway was giving opinions and he thought it was baked. Fast forward 35 years I had a free grading and few coins that are not graded. I have not looked at this coin in years and was surprised to see all the scratches hidden by the gold toning. I did not think it would straight grade, it came back scratch au details.
I cannot post a picture but if anyone wants to see it has true views. slab #34672373