Please do not confuse Coin Experts with Snake Oil Experts. That is not to say all Coin Dealers are honest. Allow the free market to work check these types of purchases out at a Coin Show. Just because they use TV as their advertising median doesn't make their product sales price justified. Check a real marketing group like APMEX.com if you want somewhere to compare market pricing on bullion type product.
There is another show on a couple times a week that also upsets me because of the way this PNG member peddles his wares.
Very true .. HSN and their type makes the double edged sword. Next time anyone thinks dealing with any type of Coin Dealer Ask before you buy "what is your buy back policy?" if it is less than 70% of purchase the term RUN FOREST RUN comes to mind
I remember coming home from the local flea market with 3 certified Morgan dollars. An 1885O, 1898O, and 1899O all graded 64 and paid $185 for the lot. When I seen he was on he had the same coins for $130/each (regular price was $179/each)!!! Felt like a genius that day!
TV and radio stations all alike. Nothing new. I keep hearing people on radio state that metals are "at all-time highs". Really? We are seeing several year LOWS for metals. In seconds I can find metal prices. All of this info is right in front of our faces, given to us. I don't get it.
All true. But it misses the point. They are simply taking advantage of the phenomenon of impulse buying, nothing more. Our "more easy" access to information via the internet certainly helps some of us to avoid falling for the TV hucksters' sales pitch, but what HSN knows is that there are still plenty of people who will not even bother to search average prices before hitting the "OK" button on their remote to purchase. People who buy these overpriced coins are thinking, "That would be a good thing to get...you know, for the grandkids." or whatever. Then it just sits around the house until they, or the person they give the coins to, shows up at CoinZip's store with the receipts and coins in their original packages and exchanges it for a small fraction of what they paid. Well, I guess it's their money... One thing this also shows us is that the point of Television, especially in the USA, is to advertise, to sell. Always has been. Ever wonder why American TV advertising is always interruptive in nature, and other countries' TV advertising is not? I watch the nightly news in the USA and see 20 minutes of pharmaceutical ads interspersed with a couple of minutes of brief news content. I can watch South Korean news (YTN) on YouTube for 50 solid minutes without an ad until the end when they show 10-15 minutes of advertising, all in one block.
I've seen worse from people who have written books on coins before. He knows what he's talking about. You don't have to like how he does it (I'm not a fan) but doesn't mean someone whose been around that long is clueless. I am not saying to buy from them, but TV isn't free. It is no different than many of the national dealers who advertise heavily and actually charge more on a lot of things. Again I am not a fan of them other than entertainment purposes and sometimes his descriptions push the line, but none of this is unique to him in the hobby. You mentioned the free market, the free market has determined they're profitable. And people are free to sell their items for whatever they want.
I did not say he is clueless, just a Snake Oil Salesman who is a Salesman knowing how to sell coins to less than knowledgeable people. Even TV being an expensive media is not justification to draw on people's ignorance. These type of individuals give honest dealers a bad rap. I have seen too many folks (especially older individuals) thinking they are doing right only to be taken advantage of. That is wrong and unethical no matter how you want to justify it.
I am not trying to justify, this just isn't something that is unique to him. A lot of major dealers engage in the same type of marketing, they aren't lies its just over emphasizing somethings. I don't view him any differently than I view a lot of bigger outlets.
HSN regularly sells bicentennial proof sets for $79.95. One day I reminded myself I would like to have one since the event was during my lifetime. I got one from an EBay seller for $16. Free shipping too. I don't doubt I still overpaid for it.
You started the thread with "There's a guy selling coins. He is supposed to be an expert in coins. " So when you say gold 2.5 g I just took it to mean 2.5 gold coin.
hsn should be banned from selling because they offer rip offs on each sale. i watch some times when i need a laugh. the other day, however, they had chinese pandas, one ounce, for $29.95, not a bad deal but from china--who knows if it's really silver. plus the s&h was $9.95. that is a deal breaker all the time. too bad so many older folks buy this then try to sell it for what they paid or more, and are slapped with the reality they have bought incredibly overpriced coins. it is sad.
