Littleton SCAM alert!

Quoting myself for a reason. I have an issue with a coin seller grading their own coins. It's a conflict of interest. But I guess in Littleton's defense, they were probably the first graders of coins or at least a pioneer in pointing collectors in the right direction as far as quality of coinage. Here is an example. It doesn't make me mad or insult me, or make me hate them. I wonder if some of their earlier stuff is collector grade just being in their old holders/packs. I don't know. It just doesn't spark my interest.

 

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It's an issue of the market.. Littleton markets to blue haired grannies. Not collectors.

 

Oh, they're a little better than that. Their coins are accurately graded, even if you are paying full retail for them.

(Full retail is a NICE coin shop where the chairs are not held together with duct tape, the lighting doesn't blink and the mustard stain on the proprietor's shirt is Grey Pupon)

Blue haired ladies shop at The Bradford Exchange.

 

That's one of the only positives I have with Littleton, but I will give them credit for that. I have a 2024-D innovation dollar graded "60" but anyone that looks at it can tell it's a 66 to a 67.

When I say I'm done with them, though, that may not mean forever. At today's silver price, if another $30 off $60 comes in the mail, I could get Eagles at a little under melt. I'm done, though, definitely for short-term.

All I have to do now is to see what I can do with 31 2023 pennies, and I'm good to go. LOL, if I did that, my money would be made completely back!

P.S. Next time I may get a Krugerrand for the mix. They're $1 cheaper than an Eagle, with the same silver.

 

I used to get letters from Littleton, when I was a dealer, offering to buy common varieties of Civil War Tokens are good prices. I found out from another dealer, what the game was. They cherry picked the highest grade pieces and made you pay to send the others back to you. They wanted to buy AU and Unc. pieces for EF money. I'd be a buyer too.

 

I been a businessman a long time. Over 90% of my business is transacted at a 7% overhead. That don’t go very far when you have to pay people, insurance, light bills, etc. etc……. Once every blue moon the stars will align and a project will go my way and I can realize a 25%~30% margin. And brother when that happens the Champaign corks are a-poppin’ in my place.

I am sorry to keep on standing behind this deal. I just can’t sit aside while good, honest American businesses get poked in the eye because it is currently fashionable to do so. We all have the choice to deal or not to deal. And if we don’t like the landscape, we also have the choice to found our own establishment and try to do it better.

 

I agree with you. We could go off into the weeds discussing this, but then we'd both get booted. The good thing about getting old is we won't have to witness the complete meltdown that is coming.

 

I'm likely at least as old as you are. People have been yacking about "the complete meltdown that is coming" for 50 years or more, as if they really want "it" to happen. Whatever "it" is. I had to comment on this, because frankly I'm tired of hearing it. Many things are measurably better now. The Chicago River used to start on fire when I was a kid. Etc etc. And Littleton Coin keeps on trucking.

 

Well I wasn't born yet when WWII ended so I'm thankful for not being that old.

 

Why isn't Littleton coin on ebay ?

 

They've got too much price competition. Even people on there whose coins are somewhat overpriced would sell before Littleton does. I think that's why the majority of these overpriced coins dealers aren't on there.

 

SCAM ALERT, if this happens to you hang up and call the legitimate number for Littleton, know for sure before you criticize the company. Just my opinion.

 

I don't think they are a scam, just wicked over priced.
Look at their prices for silver eagles.
They advertise in magazines and "junk" mail.
My mother in her older age bought from them.
She enjoyed it since she was always interested in the hobby.
The nearest coin shop / dealer is probably 150 miles away.
She was never on the internet.
So Littleton has a niche in the business.
Hard Telling Not Knowing what competitive pricing is out there.
But again, she enjoyed getting a coin in the mail.
Truly enjoyed the hobby and got me into it at a young age,

 

Everything old is New Again

It's a business model from the 1950s that has somehow survived even thrived the rise and demise of local coin shops on every corner, the We Buy Gold places, and the internet.

 

That was me. I was in the Army serving overseas 79-82. The were no interwebs so when I got my occasional Littleton envelope I was ecstatic. I would bet Littleton was directly responsible for introducing more new collectors to our hobby than anyone.

 

Key word here is starting, I would say a good percentage of people leave them only after just a few months when learning there prices are to high and a lack luster selection.

 

These are the 3 words I thought of immediately after reading the Littleton scam alert..."Professional Numismatists Guild".

I have a "Daily Coin Stop" online vendor/dealer list I peruse regularly and the vast majority of them are PNG members. Non-member listees must have a long and upholding professional reputation. I learned my lessons with bottom-feeders early in life. Now in my mid 60's and on the back side of life's bell-curve I have no tolerance with shenanigans, time-wasters, foolishness and barrel-bottoms.