Shop at home TV

jetpro · December 17, 2006 9:51AM

I just noticed that on the website for the Shop at Home TV channel all the Eagles and Buffalo coins are graded by NGC. Would anyone have a reason why they don't sell PCGS coins? And why are those coins at the site at least twice the price of similar ones on ebay?

Smitty79 · December 17, 2006 9:58AM

Q: Would anyone have a reason why they don't sell PCGS coins?

A: PCGS doesn't whore their service out to crooks like NGC does.

Q: And why are those coins at the site at least twice the price of similar ones on ebay?

A: Cause Coin Vault is a bunch of crooks.

GAT · December 17, 2006 10:01AM

Rip off artists!

flaminio · December 17, 2006 10:07AM

<< Q: Would anyone have a reason why they don't sell PCGS coins?

A: PCGS doesn't whore their service out to crooks like NGC does. >>

Pass the Kool-Aid, hoss'. PCGS probably just got outbid by NGC, just like they did when they were bidding to be the official service of the ANA or the official service of the PNG.

DieClash · December 17, 2006 10:11AM

I don't purchase from the Coin Vault because their prices are inflated. But I have never heard the peddler on that show referred to as crooks nor did I know that NGC had a partnership with the show.

It seems to me that peddling your wares on cable TV would increase your costs of selling, but at the same time you are reaching a broader audience so your chance of moving your merchandise faster is greater. Also you are reaching a more general market as opposed to collectors who buy on eBay.

In addition, NGC slabbed coins are less exensive then their PCGS slabbed counterparts on the open market.

Smitty do you have evidence that these folks are crooked? And do you have specific information that links NGC with the Coin Vault?

It seems to me these guys are just peddling their wares at excessive prices to an uneducated market. If they have broken the law that is another matter altogher. And if NGC has some business relationship with HSN that would be interesting to know too.

coinman420 · December 17, 2006 10:14AM

<< I just noticed that on the website for the Shop at Home TV channel all the Eagles and Buffalo coins are graded by NGC. Would anyone have a reason why they don't sell PCGS coins? And why are those coins at the site at least twice the price of similar ones on ebay? >>

thats why it is called "Crime Vault"

Sporkadelic · December 17, 2006 10:23AM

I have seen PCGS (and very rarely, ANACS) coins offered by Coin Vault.

DickyBetz · December 17, 2006 10:24AM

<< It seems to me these guys are just peddling their wares at excessive prices to an uneducated market >>

Thats why theyre crooks. Because they MISLEAD buyers into thinking they are getting a good deal. Then some unsuspecting person buys 100k worth of their stuff, they find out its only worth 30K and theyre screwed.

Steve · December 17, 2006 12:26PM

I WATCH Coin Vault all the time. I find Rob Chambers fun to listen to. He provides interesting commentary. The people who DO buy from Coin Vault are the same type of people who buy from QVC or other home shopping networks. It's convienient. Whether it's a blouse or a coin, people can return the item for refund if they are not happy. Nobody is forced to buy. If the person believes he can make money buying coins from the Coin Vault, then that person is no different than the guy buying on EBAY. We coin EXPERTS all know that we can buy coins cheaper in other venues than television, but how many of those venues give you 5 months to pay after you get the coins. JMHO. Steve

DieClash · December 17, 2006 12:28PM

<< 

<< It seems to me these guys are just peddling their wares at excessive prices to an uneducated market >>

Thats why theyre crooks. Because they MISLEAD buyers into thinking they are getting a good deal. Then some unsuspecting person buys 100k worth of their stuff, they find out its only worth 30K and theyre screwed. >>

Caveat Emptor.

It may be dishonest to "mislead", but it's up to the buyer to do his or her homework. Obviously those who post on these boards have a clue. But don't call someone a "crook" unless you know that they have broken the law. Last time I checked it wasn't against the law to sell a product to a willing buyer at an agreed upon price.

Granted these guys on the Coin Vault are worthy of the worst connotation associated with a "used car salesman". But they aren't breaking the law as far as I see it. You and I wouldn't buy their wares, but obviously they sell enough to be the most popular segment on HSN.

Steve · December 17, 2006 12:31PM

Kirk, I agree with what you said, but Coin Vault is on the Shop at Home network (SAH), not the Home Shopping Network (HSN). Steve

jamakin · December 17, 2006 12:31PM

I would love to know what "leading numismatic catalouge" the quote the retail prices from!

robertpr · December 17, 2006 12:39PM

<< Q: Would anyone have a reason why they don't sell PCGS coins?

A: PCGS doesn't whore their service out to crooks like NGC does. >>

PCGS will "whore" their service out to anybody willing to pay for it. NGC has lower rates, therefore they got the business.

Burks · December 17, 2006 1:00PM

In a way they are crooks. They mislead the public into thinking their "silver dollar hoards" are full of high grade UNC's. Far from the truth.

Take a close look at them and you'll see they aren't high grade, probably not even above a 63 (on accident maybe). You end up paying $40 for a $25 coin.

Plus they make it seem like certain coins are nearly impossible to come by. Walk into any coin dealers shop and sure as hell there will be some UNC silver dollars, Mercs, Lincolns, etc.

DickyBetz · December 17, 2006 1:10PM

<< 

<< 

<< It seems to me these guys are just peddling their wares at excessive prices to an uneducated market >>

Thats why theyre crooks. Because they MISLEAD buyers into thinking they are getting a good deal. Then some unsuspecting person buys 100k worth of their stuff, they find out its only worth 30K and theyre screwed. >>

Caveat Emptor.

It may be dishonest to "mislead", but it's up to the buyer to do his or her homework. Obviously those who post on these boards have a clue. But don't call someone a "crook" unless you know that they have broken the law. Last time I checked it wasn't against the law to sell a product to a willing buyer at an agreed upon price.

Granted these guys on the Coin Vault are worthy of the worst connotation associated with a "used car salesman". But they aren't breaking the law as far as I see it. You and I wouldn't buy their wares, but obviously they sell enough to be the most popular segment on HSN. >>

You dont have to break the law to be a crook. Crooks can be any kind of dishonest person who take advantage of others who are not in the know and are at a great disadvantage. These guys KNOW what they are doing. They KNOW the kind of uneducated people who watch these shows and buy their product. They ARE crooks in this regard. They may not be breaking the law, but they sure are doing wrong.

Smitty79 · December 17, 2006 1:50PM

<< 

<< Q: Would anyone have a reason why they don't sell PCGS coins?

A: PCGS doesn't whore their service out to crooks like NGC does. >>

Pass the Kool-Aid, hoss'. PCGS probably just got outbid by NGC, just like they did when they were bidding to be the official service of the ANA or the official service of the PNG. >>

No Kool-Aid involved, just my humble opinion.

Ducky1100 · December 17, 2006 2:01PM

Back when the network was going through their restructuring, I had one the Telephone Operators tell me the Coin Vault was backed by SILVERTOWNE. Silvertowne is a fairly large coin dealer and I'm sure has negotiated a real good price for the 1000's and 1000s of coins they send in for grading. My guess is they went out for bids to NGC and PCGS, and NGC came in with the better deal. After the contract runs out you never know, PCGS may realize what they can get in on and bid a little more competitively.

flaminio · December 17, 2006 2:49PM

<< No Kool-Aid involved, just my humble opinion. >>

There's a word for an opinion, no matter how humble, that is unsupported by the facts:

"Wrong."

Smitty79 · December 17, 2006 2:59PM

<< 

<< No Kool-Aid involved, just my humble opinion. >>

There's a word for an opinion, no matter how humble, that is unsupported by the facts:

"Wrong." >>

Whatever, to each his own I guess.

DieClash · December 18, 2006 12:10PM

<< Kirk, I agree with what you said, but Coin Vault is on the Shop at Home network (SAH), not the Home Shopping Network (HSN). Steve

>>

Greg,

I have a problem discerning one used car salesman from another. So it doesn't surpise me that I'd mix up SAH from HSN.

ILikeMercs · December 18, 2006 12:17PM

<< But don't call someone a "crook" unless you know that they have broken the law. Last time I checked it wasn't against the law to sell a product to a willing buyer at an agreed upon price. >>

and last time I looked, we had freedom to say whatever we want.

DieClash · December 18, 2006 12:27PM

<< 

You dont have to break the law to be a crook. Crooks can be any kind of dishonest person who take advantage of others who are not in the know and are at a great disadvantage. These guys KNOW what they are doing. They KNOW the kind of uneducated people who watch these shows and buy their product. They ARE crooks in this regard. They may not be breaking the law, but they sure are doing wrong. >>

Yeah. Like a lot of Dealer's, some of whom post here, whether they sell their wares on Coin Vault or at a Show or on e-Bay or those big advertisers in CoinWorld.

Most folks who post here are either collectors or dealers. And most who post here have a clue if you wil..

What irks many about these "Goobers" on Coin Vault is that they are so unapologetic about the excessive prices that they command for their wares. In addition as youve mentioned they do take advantage of the uneducated public.

I think the Dealers here may be envious of the prices that they realize and the educated collectors who post on these boads despise them for the fact that they are driving the market price up for modern slabbed coins in high MS condition.

The only winners are the "Goobers" and SAH.
As for "crook", I tend to define that as a person who has broken the law. Whereas for the "Goobers", I can think of some other synonyms like "shiester", "scammer", "rip off artist" (ever read a thread on these boars about successful "Rips" on e-Bay and little old ladies hoards?); I may even accept "crook" to a limited extent. But I still think a "crook" is someone who broke the law and was convicted of it. Just my opinion though. And on that basis the "Shiesters" at Coin Vault don't quit live up to that label.

Steve · December 18, 2006 12:31PM

Silvertowne does supply the coins. The "leading numismatic cateloge" they refer to is Littleton Coin company. They have sold coins for over 50 years out of Littleton, New Hampshire to newbees. Overpriced for the grade, BUT real coins. Rob and the boys also use the Red Book in their pricing calls. Honestly, don't you believe that many of us coin folks here get ripped off from retailers when we go to buy things? Any maybe it's not really being ripped off. Maybe it's just more convienent to pay more because it's closer than a COSTCO or a Walmart. Don't be so hard on the Coin Vault guys. They are promoting the hobby to a large audience and that is one reason the hobby is growing now. JMHO. Steve

123cents · December 18, 2006 12:53PM

Silvertowne as said provides the coins for "The Coin Vault". Also, all of the graded coins I have seen in the Silvertowne Catalog are graded by NGC.

DieClash · December 18, 2006 1:03PM

<< . Don't be so hard on the Coin Vault guys. They are promoting the hobby to a large audience and that is one reason the hobby is growing now. JMHO. Steve

>>

Interesting perspective Steve. There is a silver lining in that gray cloud of CoinVault profiteering afterall! Even if it is a Silvertowne NGC slabbed MS69 SAE from Littleton

Edited to add: All joking aside I do see the value to the hobby of the coin promotion aspect that Steve alludes too.

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