A question about ANACS and HSN

I was watching HSN Coin Collector on my DVR and they are pre-selling ANACS graded Proof 2010 ASEs. This is not really news, the fact that they are showing a slabbed coin marked 2010 Proof ASE MS-70 1 of 4579.

Now, if you're observant, the are not showing a 2010 coin. They are showing a 1986 Proof ASE in a slab marked with a 2010 label. They cover the date with a "chyron" (that's a tv term for a line of text that shows below the center screen usually displaying information of some kind). Funny thing is that as Meczack turned the coin to show the reverse, you could plainly see the "S" mint mark and as he saw it, he quickly turned the coin back around to its obverse. It was fun to try to see around the graphics and see what date the coin actually was.

Personally, I have no problem with pre-selling them, but if they haven't been delivered to HSN yet, how do they know that ANACS will certify exactly 4579 of them in MS-70?

Is it possible that they (ANACS) have the coins already? I didn't think anyone had them yet, including the people who belong to the subscription program.

Anyone have any thoughts on this?

How do they know?

 

Log in or Sign up to hide this ad.

I'm with ya, Mike... I'm confused.

ANACS' website makes it difficult to find their pop reports, but I finally navigated the maze and found the 2010 dollars. The total for "Modern Eagles" was 502 - only 17 were 70s. They also indicated they were MS, not proofs. At least that's the way I read it.

Strange...

 

I know... they have yet to be graded as far as I can tell. So how can you possibly know how many will grade 70 unless you pre-determine it?

The graphic on the show stated the number 1 of 4579. 4579 seems like a really strange number to just create out of mid-air, so could they have possibly received the coins yet (AND sent them off to ANACS already) before the general public got theirs on subscription? Doesn't seem very likely to me.

 

ANACS will grade at least 4579 of them in MS-70.

 

I believe that you're right, kanga, but HSN sold them as a limited edition 1 of 4579. This implies that ONLY 4579 will be certified. This implies a value that will be degraded if more are certified.

 

I don't believe they have them all in hand yet. They may have a few but not the figure 4579. There's a house hold limit of 100 so they must have a lot of folks ordering these pieces for them. How do they arrive at 4579? I think Stan and Ollie pick numbers out of a hat.

 

OR does it mean HSN will be limited to 4579?
The other 10,000 or so will be sold by other vendors.

Please note sarcasm, pessimism and other negative connotations in my responses.

 

Careful calling them idiot's GD, Krispy might attempt to thrash you, as he did with me for saying they were fools. I guess you didn't get the memo either about " Krispy" being elected the new CT censor . I happen to agree with your descriptives, as stated.

 

but kanga, they weren't in any special slabs, just regular ANACS slabs. If ANACS says that they are a "limited edition", is that how they get around the number problem of having a finite edition in a regular looking slab?

I mean the slab doesn't mention any special program, or edition, just looks like a normal ANACS slab to me. I need to add that the slab does say limited edition 1 of 4579.

 

I've seen these ANACS pieces, being offered through CSN as well. I could be wrong, but the figure of $139.00 comes to mind.

 

Up until now, ANACS has graded 17 70s out of a total of 502. That's about 3.4% 70s. At that rate, it would require submission of over 134,000 coins to get 4579 70s.

Some might argue that a large submission might get "special privileges", thus raising the batting average. Personally, I doubt it, but hey - anything's possible I suppose.

Don't forget... it is possible to order from the Mint but have them drop-shipped directly to a grading service. I think that's a bad idea; I'm not recommending it, I'm just submitting it as something to consider in this discussion.

 

There's a lot of things misleading on these silly shows, as Mike pointed out in the OP.

For instance, the fact that they are holding up a slabbed MS70 doesn't mean that all 4,579 are 70s. It's the sort of misleading "allow the public to jump to conclusions, even though we didn't say anything" ploy these kinda guys pull. "Plausible Deniability" - "We never said all of them were 70s"

 

There is probably some pre-set amount for the first day of issue MS-70 coins. I will buy mine directly from the US Mint. TC

 

My question with that is this.
Why set the bar so high of how many coins you want a PF70? Why not say there will be 100 of them. That way HSN sends in less coins to be graded, and their target is reached faster, and their price can be higher due to the limited quantity.

 

I think the top 3 grading companies in the industry are well taken care of for doing whatever the money says to do and the graders don't care whose paying the money either. Not only that, it seems like HSN has an inside connection at the US Mint as well, or at least that's how they try to make it look. Of course for all anyone knows, they could have only 10 Proof 70's graded from ANACS and the rest are simply placed in fake slabs. After all who the heck is regulating the auction companies on TV anywAYS? I remember one of the members on this forum said that they bought an MS70 coin from HSN and when they received their coin, it was a low grade piece of krap placed in a top tier slab. We will never know the true sleeze of any of the TV auctioneers as they are now affiliated with all the hot shots of the industry. Enjoy watching them but that's only for amusement and if they suddenly went off the air it would be fine with me. I'm just sayin'!!

 

I haven't seen the HSN commersh, but from what I'm hearing they never actually claimed to be selling only 70s; they flashed a 70 knowing that we humans tend to make natural "leaps of logic".

Perhaps it's useful to know the rest of the pop report...

64 - 1
65 - 4
66 - 15
67 - 89
68 - 129
69 - 246
70 - 17
total 502

 

Would you rather sell 100 pieces at $200 apiece, or 4579 pieces at $130 apiece?

 

I got a present from a HSN viewer (relative) about 4 years ago. It wouldn't have been such a bad deal, actually, but the ad showed an NGC certified coin, and we received a PCI certified coin instead. Needless to say, we sent it back, minus shipping and a $10 re-stocking fee, about 45 days and 3 phone calls, we got the refund.

 

Gotchya!