ShopNBC Ripoff on Coins

dollardude · December 2, 2003 2:25PM

They are selling raw AU 1880s $20 gold liberties for a whopping $695 + $12.95 S&H! What a ripoff!

I just checked, and a similar one on eBay recently sold for only $442!

1889-S DOUBLE EAGLE GOLD IN NICE CASE&HOLDER

sumner1984 · December 2, 2003 2:52PM

those shows on home shopping channels are geared to impulse buyers that no nothing about the coin market. these sad people dont have the nerve to go into a coin shop or learn about coins and market conditions on the internet. so they like what the sales man on TV says, they believe in the sales man, and thus they act on the impulse. Thinking they got something really great. I think the Dell computer comercials are pathetic also.

SarasotaFrank · December 2, 2003 3:34PM

There's always "Monaco Financial"

I can only imagine what they are selling for!

slothman2000 · December 2, 2003 4:02PM

shopathome and hsn are worse...at least shopathome are coming down on there prices and their stuff is graded by ncs.....

wingedliberty · December 2, 2003 8:17PM

Yes, they also outright lie about numismatic history and call common coins "rare". They are a severe detrement to the hobby and just ouright scum.

XpipedreamR · December 2, 2003 9:51PM

<< they also outright lie about numismatic history and call common coins "rare". They are a severe detrement to the hobby and just ouright scum. >>

So...tell us how you really feel. Don't hold back!

P.S. These "dealers" all suck!

4thStooge · December 2, 2003 10:18PM

Since all you titans of business think you can do a better job than they do at a lower price, then why don't don't you?
Maybe the lot of you could pool your savings from the insignificant jobs you have and put together a coin show that is informative AND sells coins at close to the greysheet. People would ring your phones off the hook. You'd all be millionaires in a matter of weeks.

...Well?

XpipedreamR · December 2, 2003 10:23PM

<< Since all you titans of business think you can do a better job than they do at a lower price, then why don't don't you?
Maybe the lot of you could pool your savings from the insignificant jobs you have and put together a coin show that is informative AND sells coins at close to the greysheet. People would ring your phones off the hook. You'd all be millionaires in a matter of weeks.

...Well? >>

What exactly is your beef?

I'm not a dealer, and have no interest in becoming one. There are, however, plenty out there who make a great living and don't mislead or rip anybody off in the process.

LucyBop · December 2, 2003 10:26PM

<< from the insignificant jobs you have >>

Heh heh, praytell 4th Stoogie, what is your job?

4thStooge · December 2, 2003 10:30PM

<< There are, however, plenty out there who make a great living and don't mislead or rip anybody off in the process. >>

Here's an inside secret for you. ALL dealers earn their living on rips. Even all the sweeties that post on these forums.

<< I'm not a dealer, and have no interest in becoming one. >>

So, this is a case of those who can, do, and those who can't, criticize.

4thStooge · December 2, 2003 10:33PM

LucyBop · December 2, 2003 10:38PM

<< Insignificant, just like yours, sweetie. However, you'll never find me on a forum suggesting to you on how to do yours >>

you would love mine... Heh heh, I retired at the age of 36.......

my job is hanging out, doing DooWop/Rockabilly shows.... Running my website... being a fulltime HepKitty....

XpipedreamR · December 2, 2003 10:39PM

Boy, this guy's really got a bug up his...well, you know

It's going to be OK...just chill out...

4thStooge · December 2, 2003 10:45PM

<< Boy, this guy's really got a bug up his...well, you know >>

Let me quote you again.

<< P.S. These "dealers" all suck! >>

You can dish it out but can't take it? Awfully thin skinned aren't you?

<< you would love mine... Heh heh, I retired at the age of 36.......

my job is hanging out, doing DooWop/Rockabilly shows.... Running my website... being a fulltime HepKitty.... >>

That's great, sweetie. Take care of your health. Without that the rest is superflous.

XpipedreamR · December 2, 2003 10:51PM

In all seriousness, I'm just not really sure what your point is.

I'm in a position where I could use my knowledge to lead the uninformed down whatever path I wanted to, and at great personal gain to myself, but I wouldn't because I would feel really sleazy doing it.

I don't think this is anything to envy, I think it's pathetic.

newbiecollector · December 2, 2003 10:52PM

4thStooge
Is it a mental problem you have or some other situation....... Just concerned and would like to know.

4thStooge · December 2, 2003 10:58PM

<< 4thStooge
Is it a mental problem you have or some other situation....... Just concerned and would like to know. >>

Fell free to define my dislike of cheapshot artists in any manner you please.

razorface1027 · December 2, 2003 11:12PM

those shows on home shopping channels are geared to impulse buyers that no nothing about the coin market
IMPULSE BUYING...Does that exclude EBAY?....

4thStooge · December 2, 2003 11:19PM

Touché, razorface. Touché

coinchallenged · December 3, 2003 12:58AM

If the majority people truly informed themselves on everything they were about to buy, they wouldn't buy it and the advertising business would be down the tubes. IMO

bearcave · December 3, 2003 1:17AM

If I had the dough and could set up a TV show, it would be a lot of fun. I was a disc jockey for about 10 years and that was a blast! You would have to try to sell coins over grey sheet some to keep up with your costs. These guys that are doing it now have to make a profit or they couldn't stay in business.

Now, maybe they could lower their profit some and get a lot more buyers, which you would think would make more sense. Unless, they don't have the inventory for lots of buyer they have to sell to a few with the price hiked.

jom · December 3, 2003 1:35AM

You know the OVERHEAD it costs to put on a TV show would certainly cause the high charges on most of these coins. The FACT of the matter is some people like to buy this stuff from TV shows. They feel it's safer than going to a show or whatever. You cannot judge what other people's motivation might be. This is really no different than some sporting events that charge $5 for a beer. Fans pay it all the time. Why not just wait until after the game and go to the local bar? Because people want it NOW....know what I mean?

jom

dorkkarl · December 3, 2003 1:57AM

<< They are selling raw AU 1880s $20 gold liberties for a whopping $695 + $12.95 S&H! What a ripoff! I just checked, and a similar one on eBay recently sold for only $442! >>

is it really a ripoff? seems to me that your $$$ figures show that ebay is a bucnch of cheap-skates.

K S

cladking · December 3, 2003 3:53AM

I think we tend to be too harsh with those who sell coins at large
markups. Coins have traditionally been priced at close to wholesale
because it is such a small esoteric field. Even here though there has
long been ways for dealers to get larger markups and this has been
especially true when the market is hot. As supplies dry up, it is likely
that we'll see increasing numbers of coins selling at retail prices.

Nearly every other business has 200% to 400% markups. While 50%
on common gold may seem outrageous people still flock to jewelry
stores to pay much higher markups for gold rings and the like.

Conder101 · December 4, 2003 1:09AM

<< What exactly is your beef?

I'm not a dealer, and have no interest in becoming one. There are, however, plenty out there who make a great living and don't mislead or rip anybody off in the process. >>

And they don't have the overhead of hours of TV"broadcast" time to cover.

airplanenut · December 4, 2003 2:01AM

<< You know the OVERHEAD it costs to put on a TV show would certainly cause the high charges on most of these coins. >>

Granted...HOWEVER, that's no excuse for telling people that these are the same prices you will find anywhere you look-- it's no excuse to tell people that a silver eagle is a very rare coin-- it's no excuse to blatantly LIE and withhold facts in order to make people think they are getting a better deal. Price as you wish, but if you misinform your buyers to get those sales, it is YOUR fault, and YOU are wrong.

LAWMAN · December 4, 2003 2:11AM

4th Stooge: What do you do? Other than starting flame wars, implying that all dealers are crooks and saying nasty things on this Board? Are you trying to get yourself banned here? You are doing a good job if that is your goal.

291fifth · December 4, 2003 2:35AM

Where is the rip-off? Compared to most products this has a very reasonable mark-up. The thing most collectors forget is that the coin dealers they deal with are generally very poor marketers. This is what happens when a field is overpopulated by undercapitalized dealers. The real problem with the tv coin marketers is that they are running a strictly one-way market. When it comes time to sell, the coins go right back to the same group of undercapitized dealers who supplied the tv marketers with the coins in the first place. Then the cycle begins again as the undercapitalized dealers sell the coins back to the tv marketers at wholesale prices.

ShopNBC Ripoff on Coins

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