Rick Tomaska's Coin show on - this will be cool Cameo Ikes!

Sept 2022 Update: Wow, the prices really ARE sticky to the downside.

They want $3,500 for an MS-64 No-Motto Saint, probably a 50% premium to the current market price (haven't checked most recent sales).

 

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I don't know where you obtain your FMV, but here's a link to eBay with some some prices that may make his show offerings a bargain:
https://www.ebay.com/sch/i.html?_fr...leDesc=0&_odkw=20+gold+double+eagle&_osacat=0

I've offered coins on this site that were well below wholesale without an offer.

I believe that you may not consider the expenses, and value of his show.

I've collected coins and worked in coin shops for more than 70 years, and suspect his prices may parallel many B&M shops that advertise.

I personally have relative appreciation for Ricks' presentation and general/specific knowledge of Numismatics, normally unseen elsewhere.

I haven't purchased any of the offerings from him, but acquired best price similar product after viewing his free education specific facts.

JMHO

 

The 1908 No Motto is a common coin in MS-65, even up to MS-67.

That coin link is for an MS-64 coin like the TV show is selling and is offering it for $2,250....which means it's $1,250 LESS than the TV show. I don't see how the TV show's price of $3,500 is a bargain when your link to Apmex for $2,250 is available.

THAT'S the FMV, IM.

No, I think the show is great....and I understand he has to cover his costs and make a profit....the problem is the sour taste it may leave in some people's mouths if they buy TOO MANY coins at inflated prices.

1 or 2 coins, if you learn, yeah, you can live with it. But buying too many inflated coins at high prices is what hurt this hobby in 1980 and 1990. I know, I dealt with many of those people trying to re-build their finances.

I do too, IM. This isn't a critique of the message or the man or the TV show.

I'm just concerned for those whose ONLY KNOWLEDGE of these coins will be from that site and then maybe buy ALL THEIR GOLD EXPOSURE at a 50% premium to FMV.

And again....maybe Rick isn't even making any profit$$. But the cost of the program and TV ad time necessitates that 50% markup which is HUGE.

Again...if someone buys 1 or 2 or a small portion of the $$$ they want to spend in this hobby and learn from paying an inflated price....no harm, no foul in the long run.

But is that happening ? I don't know.

 

It appears the show isn't for the frugal, but maybe the informed who have learned, by buying a bargain without proper future resale value.

I personally generally pay an unacceptable for thrifty buyers premium to acquire quality coins, as I've described for a wise purchaser that meets/exceeds general technical grade specifications.

The majority of my acquisitions are for my son to learn about CAC quality and grading when he retires.

The TPG need someone to purchase their "market graded" coins in a venue as Ebay, and the frugal serve that purpose, which allows a diverse relatively inexpensive collection.

I started my collection with a goal of resale, by acquiring coins which were scarce, for the thrifty.

It generally appears that similar to other commodities, quality in Numismatics isn't inexpensive.

I'm still occasionally selling beautiful unpurchased raw coins, that buyers view with reluctance because their appearance is too nice for raw authentic coins. LOL

 

IM, my point again is that regardless of the merits of the coin, TPGs, or whatever....that buying a very common 1908 NM from the infomercial will cost $3,500 and your link to one of many sellers of the coin shows it can be purchased for about $2,200.

That's a 50% premium.

 

I only bought one coin from Rick. I knew it was overpriced, but I was just beginning and that particular coin (I don't remember which one it is, now.) was significant at the time. As a couple have said, the show's purpose is to sell coins, but, so doing, they are a good source for education.
I don't know which channel Rick's show is on, but I have Dish and I have found Rick's show on 2 or 3 channels at a time. There is another show that has 2 guys (they may or may not be brothers.) "hawk" their coins and several other items. I watch that show sometimes just for laughs. There are 3 or 4 other programs that sell coins. On one channel, the only thing you see of the sales persons are their hands. Anyway, I watch them all from time to time, but only for a few minutes because they all say the same thing over and over again.

 

I don't care how nice anyone is..or how famous they are believedvto be....when you need to sell stuff on a TV infomercials you just lowered your credibility by 100%.

Sorry just another nail in the numastics coffin.
Way to much disinformation to the general public who for the most part are clueless as to what a red book is...or what's in it.
Nothing sez it louder than selling anything at a over inflated price to someone who dont totally understand what they are buying...being ripped off....by language thats anything but true.
Ive worked to many coin shows and watched little old men and women coming it to sell a late night TV
Infomformercials crap that's not worth anything near prices paid.
They may not be a law against it...but rest assured there's a special place in hell for common thieves!

 

If the stories that are discussed -- like the European Bank Hoards and pre-1933 U.S. gold -- then it's maybe a friend to the hobby.

The rest is more dubious.

 

I do watch his coin shows now and then. I fast forward through things I've seen before or just not not interested in. Once in awhile I will check this price versus ebay. I think only two or three times have I seen his price lower or equal to those on ebay. I think he would have to have repeat customers because he couldn't continue without them for this long. I think there are several reasons why customers do return:

1. People trust him and he is a very good speaker. I'm not saying it is not at least partially hype, but does attempt to make his case by showing slabbed numbers and prices of older sales on the internet. I notice most of them are a make offer, and the stats of numbers of slabbed by grade do certainly go in his favor. Those stats can certainly be presented in different ways. I think part of this trust has to do with not being sold a counterfit coin.

2. It's easy. He is right when he says they do all the work for you. I consider finding the coins myself fun, many don't. I suppose also in this area is no need to worry about saving, they can afford it.

3. I'm sure many people see something they like and want. They have no idea what they are really worth, and they have never tried to sell anything they bought previously. I sure referring to children or grandchildren to pass the purchase on to them has resulted in many sales. Let's be honest impulse buying is a big item these days.

I never have, but if something raw was really important to me with an okay price I would buy it. I do notice he appears to really push Fanklins and Kennedys

 

If his prices are LOWER than actual sales on Ebay (NOT offers) then it's probably because the market price (FMV) for the item fell substantially. I would say the average markup I have seen is about 25-35% over FMV.

Again...I understand he's a businessman....he needs to cover his costs and/or make a profit....so I understand the markup.

My fear is not someone who dips their toe in and buys 1 or 2 or 3 coins but someone who blows their entire budget for the next 5 or 10 years and then finds they are underwater and need a mini-bubble to break even.

Which is why it's important that people do their DD so they aren't disappointed later. He's a good story-teller and most people can goto the internet to check prices, I hope they are doing that.

I don't know about grade slabs going in whose favor....but most of the Double Eagles and Morgans I have seen offered are common or semi-commons. As to be expected.

Yes, the certified coins eliminates most of the possibility of counterfeits but again the question is are the prices offered close to FMV.

True, if you want to buy off the TV -- Rick or QVC or Home Shopping Network -- you get convenience at a price.

But the internet is cheaper, whether it is Amazon for general goods or HA/GC/Ebay for coins (if you know how to buy).

No problem. It's the repeat buyers or those who put big $$$ they really can't afford that will come back to bite the hobby.

We want coins in STRONG hands.

I've seen some shows for them, but most are on Double Eagles (Liberty's and Saints) and Morgans. I know he also had some on the 6-coin ASE set that came out in 2021.

 

I get where you are coming from, Paddy, but at least Rick is a legit numismatist and not a con man. He's not a boiler room operator selling crap, the coins are GOOD quality.

My onlly quibble is the markup which some people -- the ones buying LOTS of coins upfront -- might not know. The person who buys 1 or 2 and then intends to buy the rest at auctions or LCS, I have no issues with that. It's people getting BURNED by paying the huge markup and who are upside down from Day 1 and never see the coins close to what they paid for them.

Again....caveat emptor. No reason for anybody under the age of 80 to not know how to research things/prices on the internet.

My father (who has memory issues) was talked into/purchased without doing DD several thousand dollars worth of these presidential and historical "commemoratives" which are mostly tin or copper coins with images and other stuff on the front and back of the medallions/coins. I'm currently in dispute/talks with one of the companies and hoping to teach them a lesson by not paying for a while to scare the c*** out of them.

I WISH he had purchased an overpriced Saint !!

 

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They prey on the elderly and lonely people, making it sound like such a great deal
they should be hung up by there toes and stoned !

 

They ASSUME you know what you are doing which people like my father may or may not be aware. He was sharp until about age 85 1/2; started having issues the last year or so.

 

I just witnessed 1st hand of an older gent who wasn't dumb but taken in by TV coin crap.
He was a nice man who walked into a show with shopping bags of T V coin crap! He had a binder with all the paper work for this mess . The only thing that he had of REAL VALUE...was the 5 coin ASE set what 20 year set... the rest was crap...that the boxes and displays were of more value than the CRAP in them!
The man a grand father who actually purchased this stuff for his grand children.
Well his grand daughter had wrecked her car and he was going to liquidate his coins to help her get backmon her feet.
Of course none of the dealers wanted any of this stuff....I said to the dealer whom show I was working that I was going to escort him out to his car. To make sure he wasn't a target
Leaving a coin show with shopping bags...the look on this poor mans face will forever be etched in my memory.
That was the end of me not speaking my mind over TV infomercials.
And the soul less jackasses that are on them.

If I want a coin ill go to a dealer I know......if I need a set of cook ware ill go to a culinary store....if I need wrinkle cream.... well ill go to a liquor store as a fifth of Vodka will make anyone look good!

 

My late mother in law was similar, though she didnt buy coins but bought some autograph baseballs, gold foiled baseball cards thinking someday they would be worth something even bought some old new in box barbie dolls, still have all the
receipts 10 years later still not worth what she paid

 

I feel bad for such people, but you HAVE to be smart.

I've seen people fleeced by coins, baseball cards, stocks, penny stocks, Beanie Babies, etc. If you're going to give someone thousands of dollars and do LESS due dilligence than buying a Hi-Def TV or a microwave oven, you are asking to get burned.

My father probably spent $3,000 on this crap. If it's worth $300 ....maybe they're worth a bit more, but I doubt it. I think he's got one ASE of some kind in the group. He gave them away to the grandkids and kids at Christmas, birthdays, etc. Some were nice little historical things -- military and the like -- but again, way overpriced.

Thankfully, he didn't have access to his retirement savings which I manage and control. I'm not sure he would have bought more as he pretty much spent $$$ from credit cards and didn't take it from existing accounts.

Still, I can see how boiler rooms could call back...tell someone their purchase is now worth 2x or 3x....would they like to sell ? No....they want to hold them....OH, OK...hey, maybe I can find you more winners....etc...etc...etc.

 

These late night shows prey on the un educated and trusting viewers to make there
pitch they believe it so they make the purchase, not only that, the get your personal information and want to sell you more worthless junk, by mail and worse yet by phone, they tell you what a great investment it will be, just a few more thousand dollars

 

Really? How old are you?