I got some random advertisements in the mail today. One is from Nationwide Coin and Bullion Reserve. They are selling a 1/10oz gold AGE for only $172. Then you flip over to read the back.... "Price subject to change due to fluctuation in gold market". Then another one from "American Historical Society". Offering "All 50 state quarters for FREE". Then if you read the full offer on their website, you have to pay $24.95 to preview ONE COIN, then they mail the rest for $5 shipped. So when it's all said and done, you paying just about $30 for $12.50 worth of quarters. Also enclosed where the usual "hooks" from Littleton Coin and Mystic Stamp. All I can say is...I hope whoever gets these ads read up on the companies, before getting burnt. It's a shame that in numismatics, there are just as many rip-off companies as there are legitimate ones.
I've gotten a few people at work starting to collect coins and have to remind them not to fall for these types of offers. I wish companies would just be up front about everything rather than resorting to "fine print" and that goes for everything, not just numismatics. It's made me very leery of any so called "good" deals I've read, always thinking there is a catch.
OTOH, many people who would never think about collecting coins have gotten into the hobby via these mass mailings. Mail a whole bunch of stuff out to non-collectors, you will get a low yield. Someone has to pay these expenses. Its one of the first lessons of this hobby, learning where to buy is as important as what you buy.
You can get burnt that's for sure. I only buy from coin shops and when I can see the coin. I bought one from E-bay once and I don't think you can really be sure what you get until it arrives. It's not a good way to buy coins. Maybe if you buy PCGS and it's slabbed you know what you're getting, but with regular coins I like to see them in my hand before buying.
Remember the Tom Hanks movie where he was a Fed Ex employee stranded on an island? Here is a Fed Ex commercial that made me laugh: http://www.youtube.com/watch?v=alSQpinagp0
