First of all, I dont really know anything about coin collecting. I was wondering how coin "experts?" view the coins sold on home shopping networks. For example, I am watching this one program selling the U.S. Quarters in a gold, platinum, and silver mint as well as 2 gold dollars "P" and "D" editions, or something like that. But is this taken seriously within the coin collecting world? Are home shopping network coins worth buying?
Danger, danger!!!! These guys HSN and other TV coin sellers are not the way to go about collecting, unless you have money to throw away. I have met too many fellow collectors, mostly inexperienced, that have bought from HSN only to fine that they paid way to much for coins that are common. The Statehood Quarter deal that HSN wants you to believe saves you money is just a money maker for them. Coins that have been gold plated, colorized, hologramed, or what ever, are neat novelies and no longer have any numismatic value. They have been altered. HSN will have you believing otherwise. Now I have bought gold plated Statehood quarters to accent my "Brilliant Uncirculated" displays because it looks goods. But I know that the plated coins are what they are, noveties. Most importantly when you buy sets from companies that make them up by the hundreds of thousands, I assume, you cheat yourself out of getting higher grade coins then you could have if you selected them one at a time, judging them on perfection and appeal. You should almost always get them cheaper as well. Find a coin dealer in your area or online. Education in nusmismatics is always the best way to keep from being taken, losing money, and feeling stupid.
Welcome to the forum. A few other ripoff artists to watch out for are the full-page advertisers in Coin World and Numismatic News. They include John Paul Sarosi, Paul Sims, The Coin Depot, Skyline Coin and Littleton Coin. They sell dipped XF-AU coins as Brilliant Uncirculated. They prey on newbies and are bad for the coin community. If you are just starting out, the best advice you can get is to buy the coin book before the coin. Charlie
Stay far, far, far away from those type of coin dealers. Try to remember that anything you buy that is largely advertised, you will end up paying for that advertisement. TV slots are in the millions of dollars so guess what that means for your purchases from anything that is advertised. Same is true with dealers that have hugh ads in coin or other magazines. Someone has to pay for that and when you buy anything from them, it's you.
I admit I love watching the home shopping coin vault shows when I can't sleep. I would never purchase anything, but I have fun arguing (sometimes yelling) with the television and laughing at the things they say. Is that weird? :goofer:
No, it's cathartic. Great stress relief. I've always dreamed of being the guy who got to sell a used car to one of those clowns.
HI ALL I was over at collectors univerese forum and read that the coin vault is going off the air. And the company that owens it has lost a lot of money in the last four years.
That should tell you something about the overhead that these TV programs have. Even selling the coins and such at two to three times retail, sometimes more, they STILL lost money.
They lost money on all there shows not just coins , plus they were not on 24hours a day like other t v sell shows. Here is mesa az they were on only four hours a day and that was all there shows coins, jewelry,electronics, home and garden and so on. But the coin vault will be back on some where some time soon . THERE IS JUST TO MUCH MONEY TO BE MADE .
I agree about the Coin World ads, esp. Coin Depot. I remember awhile back they had an 1901-s quarter graded VG, the lettering was worn into the rims, it was AG-3. This stuff shouldn't be sold raw, it indicates a problem with the coin.
Slabbed may not help. Grading standards, at least for key dates, have been slipping. I have seen 01-S quarters and 16-D dimes with the rim down just into the letters slabbed by the major companies as VG.
Recently I responded to a newspaper ad for two free Walking Liberty half dollars. Just pay for shipping and the coins are free. Well they sent four free Walkers and two nice albums. Only thing is both albums were identical and started with 1934. Nothing to put older coins in. One album was printed poorly but the other was ok. Shipping charges were about $13. They included another half dollar they wanted me to buy at some rediculous price. All coins were cleaned, dipped and maybe engraved. They were only about good in grade. The company is American Historic Society. It really is Americal Hysterical Society. The coins look artificial they have been tweaked so much!
