Featured "COINS - AS SEEN ON TV!" Featuring the HSN Vault - COIN COLLECTOR

Appreciate your comment. It is sad and frustrating when a coin TV Host talks up a coin or set, and using language and "facts" that are bold-faced lies. But save some of your critique for my next write-up! It's "the new" AAN-TV, and I could write a book. Or at very least, a Masters Thesis! Should be posted in the next week or so. Check it out!

 

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Snake oil salesman
OG - Original Gimmick

 

An honest review...no holds barred. This kind of review helps those of us who could potentially be taken in by such sales tactics. Thanks.

 

The saddest part, to me, is that a ten second internet search exposes the horrifying prices. So, this guy is preying on people who lack such a basic skill.

One other problem these crooks cause comes up when a family member needs to sell Grandma's collection and are told by the local coin shop they aren't worth anything close to what granny paid. The family member assumes the coin shop is dishonest because granny wouldn't lie about the item's value.

I hang out in our local store and see it all the time. When the family is told, they take it out on the clerk telling them the truth, and HSN gets a free pass For committing fraud.

And I don't think fraud, or even criminal, is too strong of a word.

It sucks for the clerk too. They don't want to tell people that granny got ripped-off.

I started in coins when I was very young and like most got sidetracked. When my 9 year old son got into it a couple of years back, I felt an obligation to help him do it right. Luckily, a family member and places like this steered me right before I found Rick Tomaska, The Coin Vault, etc.

Someone mentioned that The Coin Vault isn't on very often. But, it's on all the time on Direct TV, and there seems to be a coin show, or two, on every night as well.

Mike Mesak also has a show that runs on The History Channel ( I think) on Sunday mornings. They're 1/2 hour episodes that follow the same outline as his fraudulent HSN shows, but don't use the HSN name.

What an unscrupulous cad - how does he sleep at night?

On the bright side, I tell everyone about HSN allowing this to happen and several people investigated HSNs prices on other items and stopped buying anything from them. It's a drop in the bucket, but it makes me feel like I've done my due diligence.

 

It was on in June, but it was not called Coin Collector, it was called Coin Collector Celebration...not sure why they changed up the title, my DVR did not record it because of the title switch, but I happened to be flipping channels and stumbled on it and was curious why my DVR was not recording it. Love your write up, I've been commenting on this show for many years. Love how he adds a "Red Oak Presentation Box" to an order and he thinks that makes it even more special, haha. Keep up the great work!

 

A few years back, I did some tutoring on the side at a local community college. One of the tutors was a retired engineer who tutored voluntarily to keep his days busy. He was a very kind fellow and a great coworker. Anyway, he knew that I collected coins. So one day he told me that he had a surprise for me. He said that he wanted to show me a coin that he bought: "one of the first circulating US dollar coins." I was thinking "wow, I rarely get a look at a Flowing Hair Dollar." So, he pulls out a worn out Spanish 8 Reales worth $50 at best. He told me that he bought it from a "TV coin show." He said that the TV vendor had a huge surplus of these coins and got a great deal as early circulating US coins can sell at thousands of dollars. He told me they were asking $499, but when he called TV vendor, he said they offered him an exceptional deal "for only $399 if you buy within the next 10 minutes. They will sell out in minutes. Get it now while you have the chance."

The sad thing is this: My coworker said this coin that he bought was intended to be a gift for his grandson who just started coin collecting. I didn't know what to say. Should I have said that you paid $399 for $50 coin? The worst part of it is that he bought the coin as a gift for his grandson for his birthday

In a way, I was surprised because he was a very intelligent person and I didn't think he would be susceptible to such a scam. But, I think he was so excited about giving his grandson "one of the first US circulating dollar coins" that he was thinking from his heart. I don't blame him. After all, he had no knowledge of coins, and it seemed that he was under the impression that a coin sold on TV would be a "safe buy."

What a disgrace! I have seen certified Morgans dollars sold on these TV ads at ridiculous prices. I know it's a scam, but most people don't. These TV vendors are not selling to coin collectors. These TV ads target people with limited knowledge.

 

What a lot of my Canadian friends refer to as 'Granny Bait'. The grandparents buy something for the grand kiddies, based on their heart, and what they think would be nice for the child. While Grandpa is out a few bucks, grandchild will never know (until possibly the age of maturation) and appreciate (if he/she becomes a collector). I know, because I've still got stuff that my Grandpa gave me. You can't put a price on something like this............to me, it's priceless.

 

It's not a scam. Scams are taking peoples money and not sending anything/sending something completely different or fake ect. Being overpriced isn't a scam though

 

Well, I do not get into the definitions of the words "scam" and "overpriced." I can only say that from my point of view, selling someone a $50 coin for $399 just doesn't seem right. Although it's perfectly legal, I don't think many people would pay $399 for a coin if they knew it was worth $50. I guess you can't blame the vendor. Ultimately, it's the buyer's decision. That's business. Heck, if I sold a $50 coin for $399 at an auction, I wouldn't complain.

But I still have a feeling inside that tells me this particular deal is wrong - especially when the vendor states early US circulating dollars can sell for thousands. It's true that Flowing Hair Dollars do sell for thousands. But the vendor isn't selling Flowing Hair Dollars. So what is the intention of the vendor's stating the value of Flowing Hair Dollars when the vendor is selling Spanish 8 Reales?

edit: I should mention that I did not see the TV ad. My feeling about this particular deal is based upon the facts that my coworker told me.

Well said. That made me feel much better about old Ray (my coworker).

 

I remember many years ago when the Franklin Mint was hyping on TV and in print ads their silver coinage as tremendous investment opportunities and people sunk all their savings into them. I guess there will always be people who are trying to part people of their hard earned money.

 

And always people trying to make a quick buck, without doing their homework, getting snookered.

 

It is a two-edged sword. No 'givers', just two 'takers'. If someone thinks they are taking advantage of someone who is taking advantage of them, which one is the crook?

 

A person who knows the basic difference between right and wrong does NOT sell a $50 coin for $399. And that's how that old tune goes.

 

Amen, brother.

 

Amen. Knowledge is power, and if you don't know what you're getting into, don't. I see too many people that think or hears coins are a great investment, but they don't do any homework. If you aren't willing to put some effort into knowing what you are doing with your money, there are plenty of people - especially on TV or the internet - that will take it.

 

Which one was that? I don't recall any of them being that extreme as much as a certain grading service certainly is over hyped

 

I don't intend to nitpick this point. If anyone wishes to excuse or alibi the antics of the TV coin shows, you may as well slam your head into a concrete wall than argue with me about it.

Have fun and don't forget the aspirin.

 

There's far bigger offenders that are dealers

 

That argument is a total nonstarter. The misdeeds of one group do not excuse the misdeeds of another.

 

How so? They seem to get a free pass from the crucify the tv crowd