the biggest coin swindle of them all ???

Discussion in 'US Coins Forum' started by jimmy_goodfella, Aug 30, 2004.

  1. jimmy_goodfella

    jimmy_goodfella New Member

    is gerald fords signiture worth 19,000 usd ?

    http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=39472&item=3927477319&rd=1&ssPageName=WDVW


    it fails to amaze me how telemarketers and private companies take a mintage value of in this case 440,000 or so and then amazingly market it as otnlty 1 of 500 or 1 of 1000

    in reality theve made there own limited edition as anyone can do by just basically issuing a certificate, an edition that has no reflection on the coins minted at all.

    but it sure does help sell it for 3 times or more the true value to mug punters.

    this coin is just an example of many many similar scams that go on .

    Ask yourself is fords signiture in a slab worth 19,000 extra

    or would you be better to buy a photo of him with igniture for about 100 usd


    maybe i have it all wrong so im gonna get me 100 little fancy 1 usd each boxes and then do a fancy type certificate off my computer with watermark and numbering ststem an all from 1-100 , then i can sell these 5 million + minted coins as limited editions
    whos limited edition you ask???

    Well mines becuase anyone has the right to do exactly that find a theme pick a coin and then youve made a common coin into a rare one.


    there are a lot of mugs about
     
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  3. joecoin

    joecoin New Member

    What's a "mug punter"?
    Autograph collector?
     
  4. rbm86

    rbm86 Coin Hoarder

    Holy crap!! $20k for Ford's signature?? What's the connection? Legalizing gold in 1974? So what?

    I have a baseball signed by Gaylord Perry, a 300 game winner. More significant to me, but I will gladly part with it for $20k . . .or $2k . . or $0.2k :D
     
  5. GDJMSP

    GDJMSP Numismatist Moderator

    This having signatures on the slabs is something that PCGS and ICG both have pushed hard in the past few years. Initially the program met with a great deal of success and the slabs sold like hot cakes. But the idea soon cooled off and it became rather difficult to sell them.

    Many people joined in the signature parties, from past Mint Directors, to coin designers, to ex-Presidents. But in all cases but one - the coins were still the same as could be bought on the open market without the signature. That one coin was the Glenna Goodacre Sacky of which there were only 5000.
     
  6. jody526

    jody526 New Member

    That's what I was wondering?
     
  7. tradernick

    tradernick Coin Hoarder

    That's some pretty nifty marketing :)
    I'm sure President Fords autograph has some decent collectible value but somehow I think that price is a stretch. But I've been surprised so many times now by things like this before...perhaps this one will sell too.
     
  8. jimmy_goodfella

    jimmy_goodfella New Member

    ahh mug punter is british expression for a foolish buyer,

    like what a seller would say when he sees another buying fool stroll in

    ie "theres another mug"

    mug is fool
    punter is buyer

    hope that explains it
     
  9. JBK

    JBK Coin Collector

    You guys snoozed too long. I just snagged it for the "buy it now" price of $24,750.

    This whole series is a stretch. I actually have quite a few Ford signatures, but on proper things like letters or photos. To add his name to a coin slab is a curiosity, but it should NEVER be confused with a genuine historic collectible. Save your money and write to President Ford and tll him you have $20,000 to spend and he woul dprobably give you something FAR more historic and valuable than a slabbed gold coin. Maybe a handwritten Presidential oath of office, or a signed copy of his pardon of Richard Nixon. These things are not worth $20,000 either, but they are worth far more than that slab.

    I can see designers, even Ford on a slab if they were maing the connection to gold legalization, but these are fun novelties, not serious investments.
     
  10. susanlynn9

    susanlynn9 New Member

    Awww, but I wanted it. I was just about to start a collection of useless series and I only want the number 1's. Now what am I gonna do? :D
     
  11. rick

    rick Coin Collector

    I wouldn't say this is not considered serious investment... afterall, an investment is anything that has the potential to accrue in value over time, whether it does or not qualifies it as a good or bad investment.

    I personally think it's a bad one, but who knows what tomorrow's trends will be?
     
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