Featured "COINS - AS SEEN ON TV!" Featuring RCTV Rare Collectibles TV

Many posters have made it clear that they are not being critical of where YOU purchase coins. If you feel paying the premium has value and gives you some level of comfort, then we should not (and most have not) been critical once you stated your reasons.

However, I do have a big concern when you profess that others should follow the same process. You keep stating that you are comfortable paying a 15-20% premium when buying coins TV coins.
Unfortunately, there many, many instances where the premium is 50% - 100% more than you would pay to a good, fair dealer.

You expressed concern about getting burned buying coins in the past. There are a few ways for new collector to reduce this risk. First, learn as much as you can about the coins that interest you. If you like modern, high grade proofs, learn as much as you can about grading. Look at lots of coins at shows and local coin shops. Talk to knowledgeable dealers and collectors (do you have a local coin club?). This will help reduce the risk of purchasing overgraded or problem coins.

Second, develop a relationship with some dealers that specialize in the area that interests you. Talk to them and ask questions. A good dealer will see that you are interested in forming a collection and will cultivate that relationship. Here is where your logic kicks in. Paying full retail for accurately described coins to a dealer you know and trust may not be a bad strategy. Paying a 50%-100% premium on top of full retail? Once again, no issues if you do this, but please don’t recommend that others do this.

This is a lot like buying a new car. My mother has gone to the same dealership for years. I know, I could find a cheaper price for the same car on line, but even though she isn’t getting the best price, the peace of mind has value to her. The reasons you give for buying TV coins are a lot like this, however, you’re paying the equivalent of 50%-100% over the sticker price. If it works for you, great. But my concern is telling other new collectors that this is a good strategy. A better strategy is taking the time to learn a little before you start paying large sums of money.

Sorry for the long post, but just want to make sure that new collectors who may be reading this thread get the whole story. I truly wish you well with your collecting endeavors

 

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I love watching Rick's show! I have a basket next to my recliner filled with wadded-up newspapers that I throw at the TV everytime that I don't agree with something he say's. "I pick up and refill the basket often," All said, whether it be Rick or anyone else, I refuse to let anyone try and tell me that I won't find a nicer coin at a better deal anywhere. I use my own judgment and knowledge to choose the coins for my collection. This will be a fun topic I expect, and a busy one too! Can't wait!

 

There are many, many fine dealers out there, including more than a few who are contributors here. If you wish, drop me a personal message and I’ll tell you the ones I have had good experiences with. I don’t want to post it here and risk an unintended slight against any of them.

 

Yeah, slighting them is my job.

 

There’s one in every crowd.

 

Hey, I can't help it if I grew up around people who sell nearly EVERYTHING by public auction.

 

Unfortunately, I have no crayons handy, so you're just going to have to deal with this like a big boy. Sorry for the inconvenience.

Apparently you have a problem remembering not only what you've said, but what others have as well. This may explain much of the greater problem here. "Should" or "must", it makes no difference and simply because either way you're directly recommending garbage to folks who may not understand it is nothing more than garbage. This has nothing to do with tolerance, so please take your virtue signaling nonsense elsewhere.

This "review" is one person's personal opinion, and is also that of a guy who does little else here but participate in threads such as this one. This isn't a bad thing, but also doesn't automatically mean everyone else agrees. Still, no one is disputing Tomaska's knowledge, particularly in the area of his specialty, but this doesn't automatically translate to the "bargain" you've repeatedly suggested, especially since you insist upon underestimating the premiums most actually end up paying. Perhaps what is most sad to me about your ongoing display of idiocy is that I wholly agree that a good dealer is invaluable, as is paying up for quality. Unfortunately, in this case Tomaska TV simply isn't an example of a good dealer offering his customers value beyond that of the coin, but of a guy using his name to rape them.

However, and for what feels like the umpteenth time, if YOU want to collect this way, you and only you will have to deal with the consequences, well, that is if you ever decide to actually collect instead of making questionable comparisons. The problem is openly suggesting others follow your would-be lead, and simply because you fail to understand said consequences. Many folks are under the impression that collections either retain or only go up in value, and only realize their foolishness when it comes time to sell. Buying from outfits like this where one starts out so ridiculously buried that they'll almost certainly never dig themselves out isn't good for this hobby. I've watched many folks walk away from this hobby disgusted simply because of the lessons they've learned from doing as you've suggested. In the long run this hobby doesn't benefit, nor do other dealers, and collectors certainly do not benefit, but only the clown that burned them. Is this really that hard to understand? When someone pays 2x high retail for what may be a fine coin and then tries to sell it reasonable wholesale, well, let's just say it's usually not a pretty picture. No crayons necessary.

 

If Rick is making a presentation it will be high priced gold coins or Franklin Half Dollars. He uses price comparisons from eBay sellers who over price their coins hoping to get uninformed people to buy them. A more honest approach would be to use only sold items from eBay. Rick said he would never sell bullion coins and he has kept his word, he has Jack sell them, except he walks on the set and keeps interupting Jack's presentation. Rick is an expert in his own mind that consistently sells overpriced, even considering his TV overhead, coins. If he explains the difference between Uncirculated and Proof coins one more time, I may lose it. I have Dish Network and get just about all the coin shows and Rick, other than HSN, is probably the most overpriced on the air. I 've proudly state that I have never bought a coin from a TV Coin Show.

From my Samsung Smartphone
I hate autocorrect!!!!!!

 

Another one of Rick's tricks is explaining he just bought a "HOARD" of these from an old client he sold the same coins to years ago...funny how the coins ended up in five or six different types and vintages of holders after he just acquired them. Sometimes I get the feeling Rick is bidding against me for certain items just so he has enough inventory for his next presentation. I think I'll try and keep track of cert. numbers just to see if any of these coins end up on his show.

 

Jack really was a buyer for Stacks, so I guess he still has some contacts. Also, dealers tend to buy in bulk from the mint, so I assume he gets his more modern coins this way. The TPG give huge discounts to people like Rick because of the large number of coins sent to them and the free publicity they give the TPGers. Rick has had "Miles" from NGC on several of his latest shows.

 

Yes. This. the discount from the Mint is modest. The discount from the TPGS is significant.

 

I often wondered the same about some catalog companies like Littleton. How do they stay in business? Why would someone buy from them when their prices are extraordinarily high? Mike Mezack would hold a catalog in his hands, point and quote the high catalog price on a particular item, and then state and compare his price, which was lower than the catalog but still too high.

 

All the coin shows use that catalog to compare their "low" prices to the catalogs. They ought to chip in and help the company pay for publishing costs, they quote from it so often. Rick's the only one I know of that consistently cherry picks over priced comps from overpriced eBay sellers.

Hey Kurt, you've grown your hair longer.☺

 

I’ll say this. In the 1970’s and early 80’s I was serving overseas in the Army. I purchased a few coins from Littleton as I didn’t have an Internet at the time. Every other month they would send me 2-3 overpriced coins on an approval basis. Pay for them if I like them. Send them back if I don’t sort of a deal..... For a fellow half a world away from his coin dealers I came to look very forward to receiving those envelopes. It was a long distance life line to the hobby I loved.... Granted it was a very over priced lifeline. But they fed my need at the time.

 

That's Kurt's Calif. surfer look.

 

Funny thing is that it does that all by itself. I just don't get it cut as often.

It's a look I need in my new role as a Dead-Eye Master and Guardian of The Farce.

Speaking of California surfer looks, I realized over the weekend that Val Kilmer never needed to act a lick. He REALLY IS that much of a douche.

 

I admittedly watch Rick's show when I'm bored. It's entertaining.

BUT he did personally sell a bullion coin with a signature for over $3K. I don't remember all the details, but I was so disappointed I actually e-mailed him and told him what I thought of his actions. One thing I did respect, is he did e-mail me back. I wasn't kind in my initial comments, but I wasn't unprofessional. We went back and forth a few times, but I stopped responding because he was trying to justify his actions. If memory serves, he buried someone in a bullion piece for about $2800 more than what you could buy it for on eBay. I believe it was one of the 2017 S Silver Eagle Proofs.

I agree with many of the comments in this thread. If you can find a coin being sold on his show that is only 15 - 20% over full retail, consider it one of his bargains. Generally, he sells for well over those percentages. For example, recently he was selling MS64 St. Gaudens for ~$2400. HA Index: $1150 - $1400. That is my mind is the definition of buried.

@Mickey Rothenberg, while you may enjoy buying from him, if you continue to enjoy this hobby, you'll start to learn why your original post got the reaction it did.

 

The one thing that has been tempting to me - but I have not succumbed to the temptation - is whether it is worth buying Rick Tomaska's coins (especially his trademarked ECC coins) on the premise that they are worth more since he is allegedly cherrypicking the "best examples of that coin for the grade."

Another way of asking this is to first acknowledge that all coins of similar type and grade are not alike; by example, all MS64, 1903 Morgan dollars, in a PCGS holder, are not alike, and the prices are not the same. Is Rick Tomaska providing a service by offering for sale that coin with better eye appeal, tone, etc.?

I personally prefer to do that work myself- that's the fun part of collecting coins- but new collectors may benefit.

 

In my somewhat dated opinion (And I admit that openly) Rick does have a truly fine eye, so if he puts his imprimatur on a coin, it's nicer than typical. That does NOT say HOW MUCH extra it's worth. It is at minimum a tool to learn what goes into a superior piece.

It's like this: all Rick's choices are nicer pieces, but not all of the nicest pieces are Rick's.