CSN (Collectible Shopping Network)?

It is so entertaining though!!! If you are true coin enthusiast, you will laugh your you know what off at that salesman, and some of the claims he makes. The giant silver quarters that have recently been showcased, lol hahahaha.

 

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I agree with above, and will also add that the overhead from a TV show necessitates the need for high prices / poor overall value. Any offer that seems too good to be true usually is.

 

I have tuned in for laughs a few times. They frequently share some good information, but then only tell you the facts that help them sell coins. I was watching one night and they were selling 1960's Lincoln cent proofs NGC graded, talking about super low populations in higher grades. The population info is probably true, but they don't share that they are so common it's usually not worth having them graded in the first place and try to convince viewers it's the investment of a lifetime while charging $50 a coin.

 

Overall I have to agree that most home shopping network tv shows are only good for laughs...But, But
I did make a stab back in 2004 and bought a couple of The American Eagle Program sets. The set consists of a 5.00 Gold 1/10 oz American Eagle with an ASE. Each set cost 100 bucks. So that was maybe the only time, it was somewhat legit. Apology in advance for the quality of the photos.
So you never know.

 

Somewhat legit? In 2004 the coins were worth about $49 and they charged you $100. The only reason you have made out is the fact that the metals went up. Today the spot value would be around $145, would you think they were "somewhat legit" if they were asking $290 for the set today?

Oh and $100 at 12 years at the rate of inflation would be about $145, so you've just broken even.

 

Yep but it's not about the money, I am a collector.
I believe gold was around 475 an oz and silver was ??? So I think your calculations are a bit off.
It's not all about spot metal prices though imho.
Breaking even, as you said,, hey in this economic climate, breaking even is ok by me. Thanks for your opinion.

 

Sometimes I'm amused by watching coin salesmen on the T.V. shopping networks as they display their pomp & puffery. I would never purchase anything from them. Everything I've seen offered is way-over priced hype.

'dude

 

Have you noticed how the TV salesmen can pull out MS70s and PR70s by the dozens? Of course, basement slabbing services help a great deal.

 

I should be pretty close. I don't know what day you bought but gold in 2004 ranged from 375 to 454 so an average of 414. (That 414 figure is too high as well because for most of the year it was below 420. It only popped up to the 450 level for about a month in late Nov and early Dec. Without that aberration the average would be 402. ) The silver figure was accurate at around $7.

My point was that we complain about the TV people for charging double retail or more today, and in the example you posted they charged double retail for it as well back then.

Can you tell us how many coins they had to submit to get those dozens of 70's? If you can't then you can't say they are getting any special treatment. You have no way of knowing if they are getting a higher percentage than other submitters or not. And basement slabbers? I guess if you consider ANACS to be a basement slabber, and they do have NGC and PCGS slabs as well. Are you including them in the "basement slab" catagory too?

 

The TV salespeople are holding a significant percentage of all examples minted. They're the cash cow for TPG's whose slabs they sell, and probably the reason ANACS and ICG can stay in business at all.

 

Sometimes it is WORSE!

 

I understand your reasoning. But, like many other people involved in coin purchasing and collecting, I feel that , for me it was a good purchase. I was stepping into the precious metals and coin market and felt that if the US mint was selling the 1/10 oz gold coin at around 90 bucks at the time and ASE s were around 20, not considering spot price mind you, it was a good purchase for me. Spot prices of gold and silver went thru the roof in the years after my purchase, so in the long run, even as an inflationary hedge it was ok.
I don't even exactly know the price I paid. Maybe it was 79.99, I don't remember. Hopefully I can find an old receipt. Again, thanks for your concerned opinion.

 

I am talking about a basement service called IGS which is widely used by the TV salesmen. You can't even resell one of those coins on eBay with a grade quote.

Of course I'm not talking about PCGS and NGC. But you rarely see those on TV -- and of course they are overpriced when you do. From what I have seen, the latest, hottest Mint releases are run through IGS and ANACS. They are not run through the top two.

 

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