HI All, What are some opinions of the coins offered on the Coin Vault TV shopping program? Some coins are graded by NGC, and then of course they offer full sets in folders, eg - Peace Dollars, etc. Are these coins accurately graded. I do note the prices to be a bit higher than say ebay prices. Just curious what some of you knowledgeable types think! Thanks Chris
Hi Chris; Well the short answer they only sell 95% of their slabbed coins are by NGC, the rest are PCGS graded coins. So they do use the 2 most respected coin grading companys. As to there accurate grading, many here will tell you to "buy the coin" not the slab, so I'll say the same thing, but over all those grades are probably pretty accurate. On the raw stuff they also tend to over grade, the 2 times I order (1 roll of Morgans, and a roll of SAE) I returned them both because it was junk-Thats not to say that perhaps some of their stuff is good, but then they over charge-- The Coin Vault tho has its faults--They over charge BIG TIME!!--I feel sorry for many who have paid their asking prices on stuff, only to find out at a future date that they will never recover what they paid. (In fact I have fired off couple emails to the hosts stating to them the prices they are charging are outrageous), so far I get no response To me it is amazing the markup of the items, 100% to up 300-400% markups is common practice. Bargains are few and far between and lately their prices have actually insulted me...So have I ever bought anything from them? yes 2-3 years ago when to me there prices were more reasonable but even then I overpaid--Would I buy anything from them now? I doubt it, prices they charge now is way out of line and bargains are never televised-- There is a new coin show on satellite that I look at on Thursday nite that seems more reasonable and is more of an auction type selling, but to date I have not purchased and still developing an opinion--The slabs I see with them is mostly PCGS slabs--Can't remember the network now it is only on at certain times--right now its not even showing the channel-- cisco
Yep, I think they charge too much. Also, buying off tv would take some of the fun away, I kind of like buying off ebay. And since I'm only collecting gold eagles right now it's pretty easy to see what a fair price is. Chris
I enjoy watching the Coin Vault. I've never bought anything from them because I think their prices are too high. But, to their credit, TV time is super expensive, so they have to try to recover their costs somehow. Unfortunately, many people don't know that they can obtain the same coins elsewhere for a much more reasonable price. But, I don't fault the Coin Vault (hey, I should be a poet) because it's a free-market society and they're welcome to charge whatever they want to charge. However, an informed buyer will look elsewhere. Remember: Caveat Emptor! (Let the buyer beware!)
I guess if you will never be able to attend a coin show, can never go to a coin shop, do not have a computer or any internet access, and want to spend 2-3 times more for a coin.... then you might buy from the shopping channels. Otherwise I see no reason to even watch them unless for a good laugh.
The problem with the TV shows as I see it is that most folks who are not collectors are quite gullible when it comes to coins. They figure that if there is some guy on TV selling coins for $499 and saying they are rare - then it must be so. The plain sad truth is they just don't know any better.
I agree that the TV guys can charge whatever prices they want to. What I don't like is their inflated "price elsewhere" comparisons that they use to make their prices sound like a bargain. They charge $80 for a 2004 silver proof set and claim that the price elsewhere is $95-100. Price at the big dealers: around $40. Price from the U.S. Mint: $38.
That's right. Another tactic they'll use is to say, "We were charging $129.00 for this same item 6 months ago. But, today you can buy it for only $99.00". This makes people think they're getting a bargain when, in fact, the $99.00 price is probably still about $40.00 too much! But, when you think about it, practically every business in the world uses this tactic. Like my mama used to tell me, "It pays to shop around". Sound advice.
Hmmm, the *cue lightning* Leading Numismatic Catalogue may be to blame. Their prices are even more ovepriced than the Coin Vault, and far more than the Red Book, a very reliable source.
Kinda makes you wonder what the folks that paid $129.00 for the coin might be thinking? After all, their investment just lost $30.
They are probably not thinking "investment". Just like when someone buys at Tiffany's or Sax Fifth Ave. It is just something they like and they want it so they buy it. It's not for me. I am more frugal but to each their own.
Also gotta wonder how well anyone who bought (even from TV scammers) silver bullion and coins back when this thread was started. Original date of thread 2-12-2005... Spot price of silver $7.00... So even if some old lady or a dummy bought back then; I still say that their up if they held on. And if lucky, they could of dumped it all when silver spot almost hit $50 a while back. I certainly don't buy from tv, but only cause its boring (I don't have the patience to wait) and I can buy from whoever and wherever I want. Just kinda looks silly now, looking back to when silver was $7.00 per oz and people where calling others fools for paying $10 or $12 per oz spot... Look who is laughing now; certainly not me
Hey - don't mock the show even though most everyone here looks at from one perspective ... I never bought anything from the show it is educational to some. I never heard of some terms like monster green boxes, NGC and varieties even though I collected coins off and on for the past 20 years. hey I would never be on this web site if I wasn't watching it that one night with the Coin Vault trying to sell graded NGC 1995 DDO Lincolns. Many on here even look for a cherrypickers coin I submitted to Dr. Wiles many years ago that was shown in coin week magazine. So, if I didn't watch the show that night, the 1988 RDV-006 would of never been found. Snowman
