When I canceled my coins on approval, I wrote to them and told them I would be willing to buy coins at fair market value, but that their prices were 2 and 3 times what that was. As for looking to rip people off for a quick score, perhaps the business model wasn't always as blatant as this, and if a company has been in business for over 70 years, that would be difficult to sustain profitability with zero repeat customers.
Mystic Stamp Co. fills a similar niche over in the stamp world. Glossy catalogs, approvals, first time offers are attractive, etc. The serve a segment of the market that is "not" on these style forum(s), or hasn't "read" further into the hobbies... Just an observation since 1960.