Just watched their "Original Government Packaging Madness" offering a bunch of 1970's and 1980's proof and mint sets being sold for $200. The guy said that these sets are being offered for $372 elsewhere. Not really... It's $95 at one of the big companies. Yes, you also get an Ike dollar and the 2005 quarters proof set as a "bonus" from the TV guys, but that's only about $20 worth of coins, so the price should be $115, not $200. Normally I would only laugh at these guys, but I realize that a lot of beginners fall for this, and they are going to be very disappointed if they have to sell their coins in the near future and only get half of their money back. Dealers like this will scare I know that the TV guys can charge whatever they want, but they are frauding people when they tell you that the coins are much more expensive elsewhere. Perhaps I should go the the FUN show and talk to these crooks. I know that this has been discussed before, but I'm just shocked by these drooks in suits. Another great deal: 1975 and 1976 mint sets for $70 total. It's $22 elsewhere
I like to watch the same show early in the morning. Their prices are really high but I like to watch the show because I enjoy hearing the guy talk about the coins. He is very serious and he is a great salesman. Apparently they sell a lot of coins. However, they are taking advantage of people. Some of their deals are horrible. Especially the wheat penny special they had a little bit ago. Also, when the deal includes a novelty million dollar bill and novelty mini money I think you should stay far away. When they put up that "Sold elsewhere" price I wonder if they are talking about in Canada. Even in Canadian dollars it is high! I'd like to see the personal collection of the 2 guys that host the show. The guy who does the talking said, "Some weeks I don't take my pay... I tell them to give me another set of MS69 American Eagles."
High Priced Coins These T.V. people have been doing this for a long time. How do they justify the prices? Marketing Costs . The T.V. space alone is a bunch let alone the banks of phone operators, flyers, and other places they sell. A coin dealer can pay from about $300.00 to $1500.00 for a 8 foot table at a show. They have 3 days of sale time to recoup their expenses. Add to this hotel space, meals, and travel expenses. What's different between these dealers and the T.V. boys. The show dealers know that the people coming in are collectors or are interested in the coin hobby. They are more likely to spend more money because of it. The T.V. boys don't have this adbantage. They are trying to market to every Tom, Dick and Harry. They know that a seasoned collector is not going to buy from them. Regardless....They still have to cover their expenses plus make a profit. I don't endose this type of sales promotion. However I really wonder if it helps or hurts our hobby. We always hear of how bad it is for us and how people are getting ripped off....... Let's see if anyone here can come up with ideas about how this T.V. coin marketing can HELP our hobby. catman
"Just watched their "Original Government Packaging Madness" offering a bunch of 1970's and 1980's proof and mint sets being sold for $200. The guy said that these sets are being offered for $372 elsewhere". CoinSwede. It is most likely the same guy who has another shell company offering for the even higher price. Then he can show, if ever need be, the proof of his claim to a potential customer or law official and can not be charged with any fraud, etc... I think it is horrible for the hobby. Every dollar spent their is one less dollar spent at a coinstore that is concrete, website, e-bay, or table showed. As for the markup, well how much does soda cost to make and then what does that sell for. Markup is everywhere as to be expected but the point is that Coke is not misleading people in a coy manner that some of these telemarkers are. Good posting CoinSwede, I just wish that it could run underneath the telemarkers like a Cnn/Fox news highlight bulletin.
I am all for capitialism at its best. The best part of it is if more collectors are introduced to the hobby, and more people collect...what we have in our own collection increases in value. Marketing to the masses can only help our hobby as more get interested, the better.
I watch Con Vault like theatre. And it's more fun yet with a Redbook on the lap. It still isn't against the law to make a profit. But some should probably ware a bandana to the bank to cash their paychecks. Sometimes i get envious of how they can talk and sell. But truth be told, they may pull down very average pay. The suits could be rented. They could drive pintos to work. (yep, i had one too)
Do these sort of sales programs have an affect on the numismatic market? I seem to remember reading somewhere (CW?) that when the TV people put together sets, they put together so many that it inflates the price of coins in that set.
I don't think that the TV market affects the value/price of coins. But they do promote the hobby (in an underhanded way). It is unfortunate that we live in a TV-driven society. If you promote it on television, there will be a market for it. Otherwise, why would there be television stations devoted solely to sales? As the new collectors are buying these items (and unfortunately not getting good deals), I hope that they will then be searching the internet and the other media that are available in order to learn about the hobby and add to their collections. As this happens, that's where we come in. The internet forums and clubs are invaluable in educating the new collector. By keeping these forums informative and inviting, maybe we can offset the damage done by the TV sales. And, if nothing else, it brought a new collector into the hobby.
How do these guys help the hobby? They do have nice coins. Makes me want to go out and purchase coins at my local coin dealers, at fair prices.
I know that the TV guys can charge whatever they want, but they are frauding people when they tell you that the coins are much more expensive elsewhere. Actually they aren't. There are actually companies out there sending out catalogs to people with those coins priced HIGHER than he TV salesmen. I've seen them. One example several years back was an uncut sheet of dollar bills. At the time you could buy them from the Treasury for $38. The TV hucksters were asking $75 to $100. Sharper Image catalog had them priced at $200 a sheet. The real problem is that when collectors see them selling at about 100% more than they could be bought from a dealer they don't consider the much greater overhead that the TV seller faces. For starters the cable network will be taking 25% of the gross sales right off the top. Say you have a coin that a dealer would buy at $70 and sell at $100, $30 profit. If the TV people did the same the would sell for $100, network takes $25, $5 profit. In order to make the same starting profit that the dealer does they HAVE to sell it at a minimum of $133. And the TV dealer Still has to pay for the air time (yes that isn't covered in that 25% the network gets.), cameramen, sound crew, foley crew, set designers and builders, director, electricians plus others (And these are ALL Union wages folks) And there are still other miscellaneous expenses. So it isn't too surprising they have a 100% markup over what a dealer sells for.
Say what you want to about those TV people, they are laughing all the way to the bank every day. Some good honest coin dealer should be so lucky!
I too watch the TV guys occationally, just to see/hear about coins. The other day I had to laugh and cringe as they popped open a roll of the 2005 silver dollars, pawed through them, selected one and held it to the camera.......no gloves. "Look at these blast white silver dollars....with my finger prints all over them"....DOH! Its a shame seeing good coins getting mucked up like that. Has anyone ever once seen any TV shopping channel guys wear gloves when selling coins?
