Cable Shopping Network ??

You've got a point there.

 

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If you read between the lines and cut the bull a bit, these shows technically tell the truth. Go on ebay and look at all the "perfect MS-70 coins." Now someone is flat out lying to your face. I find it interesting how the more informed I become, the less stuff I buy on ebay. Remember, "I may have professionally graded and slabbed the coin, but grading is subjective and I am not an expert. Please study the [blurry, doctored, fancy lighting,etc.] photo closely before bidding. Have a great day and happy bidding!"

 

Are they? The official ANA grading standards calls an MS-70 perfect, possible PCGS does as well, but every service including PCGS state that they grade by their standards not the official ANA standards. But none of them, other than ACG, PCGS, and the defunct NCI, have published standards. So an MS-70 can be anything they want it to be. Technically they are NOT lying unless they say in the auction that it is perfect. Also unless the seller is also the slabber AND says it is perfect, they also aren't lying because the seller isn't claiming it's an MS-70 the slabbing service is. Lots of deniability there isn't there.

 

That reminds me when I first started collecting coins, I got this "starter book" with the mix of foreign coins in the cover packet and a general breakdown of how to collect coins.

One of the images they had was a "MS70" 1986 ASE in an old PCGS holder. Now upon reflection, the coin didn't look like MS70 material.

 

Hobo.
I think you are right, I have always thought it is the Littleton catalog and they do sell more coins then just about anyone. As high as there price is for coins alot of people trust them and buy there coins go figure.

 

There's two ways one can look at this. Yes their prices are not realistic. They're looking for people with little to no knowledge about coins. Someone like your Grandmother who doesn't know what to get you but remembered you liked sitting at the kitchen table with gramps. On the other hand they are promoting coin collecting. And if this program can raise interest in the coin collecting community it is up to the buyer to know what they are doing. I remember many years back I thought I bought a great coin at a great price. It was a 1916 Standing Liberty Quarter. I took it to my local coin dealer/friend and he said, sorry to tell you this but the coin has been professionally cleaned. Was I in the down and outs...he then said don't look so sad, it cost me $30,000.00 for my daughters education. Your $500.00 lesson is not going to break the bank and is one lesson you will always remember. To this day some 30 years later I have not forgotten his words. If someone buys coins at an outlandish price it is a lesson they will never forget. Hopefully they will continue to buy and support the coin collecting community. As with anything: Buyer be Ware! One more note. You'll find this same kind of action within your online auction sites. People telling you it's worth $28,000.00 and I only want your best offer.

 

I guess whenever the saying,"grading is subjective" is applied, the seller is off the hook. I am a firm believer in education. Be it coin collecting, firearm collecting, religion, even shooting the bull; education is the key to making informed decisions and keeping you from making costly mistakes. When I make an unwise purchase in the coin field, I chalk it up as an educational experience. Then I vow to at least learn from it. It is a sad fact that many dealers rely on ignorance or lack of knowledge to make a living. This site offers us a chance to learn from other's mistakes also.

 

Very nicely put. Like a history lesson...:thumb:

 

Littleton is high priced but if you have ever got some thing from them or sold them some thing you know that they are very strict on the grade.