Post a classic Coin Vault "deal". Tonight, they were offering 2014 US Mint Proof Sets for only $39.95 + $9.95 S/H. They were also trying to sell 1921 Morgans saying "it's the most highly sought after Morgan". I'm a Morgan collector and I hear I thought the CC mint mark coins were the most sought after...lol.
Last week it was 16 copper rounds and a like 1 or 5 pounds of wheaties for 100 I don't remember if it was 1 or 5 pounds
Probably the biggest overhead operation in the Coin Business is having a Television Show! Fortunate for those folks is that there are lots and lots of people around that are willing and able to throw their money away!
While I would never buy anything from Coin Vault, I like the fact that they're using the power of TV to expose the uninitiated to the hobby of coin collecting. If a CV purchase gets someone hooked on collecting, that's good for all of us, and in all likelihood that person will eventually wise up and turn to other sources for buying.
The cheapest 2014 proof set costs $35-$40 on ebay. I would have expected the TV guys to ask much more than $39.95 plus their expensive shipping.
Or throw up their hands in discust and walk away from the hobby. The problem with many of the 'uninitiated' is that they think coin collecting is an investment.........
Yeah, I wasn't suggesting that every noob who buys something on CV will end up becoming an avid coin collector. The vast majority won't, but a few will, and that's not a bad thing. As for the "investors" . . . if they ever try to sell those overpriced mint sets or slabbed ASEs, they'll learn a valuable lesson. And that's not a bad thing either.
Folks, there are literally THOUSANDS of folks out there that have some type of initiation in coins. Mostly from reading stories in the news about untold wealth achieved from pocket change. These people know NOTHING about coins other than if they collect them, then someday what they've collected or accumulated will have some value over and above what they paid. They REFUSE to entertain the thought that they just might be wasting their money. Just last week, I spoke with a fella that has been buying proof sets for his kids and grandkids. Common, everyday, CnClad Proof Sets. I tried to tell him that usually, these are cheaper in the aftermarket but he was insistent on buying them as Christmas gifts. Sadly, these "inheritance coins" are just heart breakers for someone as they simply do not have nor will they ever hold a value even close to what was paid. People might as well stick an orange in a safe deposit box for when they get hungry. With that said, probably 9 out of 10 folks will actually leave coin collecting (or blind purchasing) once they find out that they've been wasting money on something they know nothing about. As such, these TV Shows do more to hurt the hobby than actually encourage the hobby. But.....that's just my opinion.
True but they will be worth a LOT more than what the person who received them as an inheritance or gift paid for them. (Of course they would have been even better off if they had just been given the money that was paid for them.)
