Now This is Just Nuts

$20,000 and you get your golds back? Insanity...........wish it was me doin' the selling......

http://www.coinnews.net/2014/08/05/...-coins-sell-for-20k-pcgs-certifies-first-six/

 

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I think the question that needs to be asked is, If I paid 20k for those 4 coins, and walked up to PCGS and asked for a label that says first 4 sold, would they do it? I'm wondering if this is the start of more and more nonsense being put on labels to seperate fools from their money.

 

1st coin sold? If you return it, will they switch the label to "first sold but returned"?

 

Sheer and utter craziness..........

 

Weren't the 'first four' graded at 70? What idiot would return a 70?

 

And I love how this thread is tagged for 'nuts'.........

 

No one returned any of the first four sold. The article stated that the first four sold for $20,000.00, that is $5,000.00 each plus each of the four people were given one purchased later to replace the coin they sold by the dealer who bought them. So, the dealer actually paid $6,240.00 each for those four coins and I think whoever buys any one them probably has more money than intelligence as he/she will probably never be able to get what they paid for it in the future.

First coin sold does not mean squat, what does matter is the first coin struck. That is the one which made history and unfortunately we will probably never know where it ended up.

The first four are graded Proof 70 and the next two are 69's makes you wonder if there is some sort of favoritism going on or, if PCGS felt that because of the intense publicity surrounding these they could not afford to grade them any lower than that. Really, how can anyone actually differentiate a 69 from a 70?

 

Slight luster break/pinhole......other than that I'm clueless.

 

Collectors won one.

 

I commented yesterday about how it's hard not to question PCGS's integrity in this case. A dealer is just going to pay $20,000 for four coins on a gamble they might grade MS70??? This isn't just any dealer either. This is a top executive of SilverTowne. The kind of person in a position to pressure a TPG. Someone at PCGS may have also gotten their pocket greased, but more importantly PCGS makes a major client very happy - which ensures future business. It really stinks in my opinion.

 

How appropriate! Actually 2 dealers bought the first four and they plan to sell them on Coin Vault. Very smart, Coin Vault knows how to sell to the biggest suckers.

http://www.coinworld.com/news/first...ld-kennedy-half-dollars-from-los-angeles.html

 

Silvertowne IS Coin Vault.

 

Very fitting as coin vault is the biggest rip off known to coin collectors. They hype and hype the coins roll em out at 3-4 times there value and just draw in suckers. I watch it to just laugh at the prices.

 

Silvertowne is just a business and a good one. Yes on Coin Vault they do sell coins for much more than a knowledgeable collector would have to pay for them, but then they aren't really selling the collector market. (And if you see something on Coin Vault that you like you can contact Silvertowne directly and buy it for less.) Does Coin Vault draw in the suckers? Yes, but that is capitalism and legal unless they make misrepresentations. And they watch what they say to make sure they stay just on the side of legal.

 

SilverTowne has the cheapest pandas at the ANA show! I may just buy about 40 of them...watching spot price of silver.

 

Many like to believe they are on the legal side until the regulators go after them. I'd say watch their ads for this gold Kennedy and ask yourself if they make any out right false claims.

 

Someone would have to post a video of them making their claims. I don't have a TV so I don't watch them. These TV shows have been on cable for decades and the regulators haven't gone after them yet, even though there have been a lot of complaints. And the regulators aren't shy about cracking down on such things.

 

The regulators are over worked and can't get to most of the scams. It takes many complaints and big money before they're forced to move. Many scam artists count on this fact.

There's a video on the net now that claims these Kennedy Halves are accent hair. Of course, if questioned, they would claim the hair is accent to them, but not the accent hair variety collectors know. Misleading, but not illegal? What American capitalism has become? Maybe, but given the correct leadership, could change overnight.

 

There still shisters, just watch there program. They will pull up ebay ads and be like its going for this on ebay and look what we are selling it for, but if you look closely at the ads they are always buy it nows and probably never sell (I can find just as many BIN on ebay that are overpriced and sit and never sell) and for all you know they could have posted the ad themselves. Or the ad might have been from 2 years ago before silver tanked (I've seen this before showing an ad a year old before a decline in silver price). It may not be illegal but its misleading on purpose.

 

Yep, that's the way they sell rolls of ASE's for $600 ($30/coin).