Featured "COINS - AS SEEN ON TV!" Featuring RCTV Rare Collectibles TV

I hardly doubt that he's cherry picking the best examples for the grade to sell. He's obviously cherry picking the best examples he has in hand to display on TV.

 

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I'd guess his ECC coins do indeed have exceptional cameo contrast (ECC acronym); however, the premiums he charges are over the top. If that premium was 5-10%, than sure, but it's often much, much higher. Plus, with patience, you can also find those types of modern proofs.

I agree with you about buying the coin. Every coin (with exception to recent moderns) has unique characteristics. Two coins that technically will grade MS65 might have vastly different eye appeal. That's what makes the hunt so fun.

 

This might be very true. I would NEVER buy a numismatic coin without being able to examine the coin in some form of media or in-hand. If I ever developed a strong relationship with a dealer that new my tastes, I might change "never" to "rarely". But as it stands today, I want to see the exact coin I'm buying.

 

Same here. Unless I see the exact coin I'm buying I'll pass (exception are US Mint products that I rarely buy these days).

 

I agree about mint products. I still buy some, but not many.

 

Just been watching the RCTV Comedy Hour...Rick is selling a 1908 No Motto and a 1908 With Motto both in MS64 for $7295...I spent only 2 mins. on the net and found the very same 2 coins PLUS an additional 1908-D No Motto in MS64 ...3 coins for the price of Rick's 2 coin set for the same money!

 

I hadn't watch any of these coin shows on TV until I started reading about them here. On the plus side I did find them entertaining. But to say there are only adding a 15 to 20 percent premium is an understatement. When I did a little comparison shopping while I was watching one of the shows it was more like 50 to 100 percent premium - or more. I think the info most provide is pretty good, right up to the point they start telling the viewer how rare and hard to get the coins are, and they just happen to have a very limited number of 200 of them. I just think it is a real shame that people can legally falsely represent a product like these guys do and get away with it. And by falsely represent I mean tell people how super rare an coin is, when it is really just a difficult date at most, then tell people what a bargain the coin is at 50 to 100 percent more then what legitimate dealers are selling the same coin for.

 

There are those who will argue that the TV salesmen are tap dancing on a chalk line and, according to the letter of the law, aren’t doing anything “illegal.”

I’ve quit arguing with them.

Here’s my question: Is what the TV salesmen doing ethical? I say “of course not” and, as far as I’m concerned, anyone who says they are ethical is likely someone I don’t want anything to do with.

 

This is a very good question. Rick claims to be a member of the PNG, which requires all members to maintain a highest level of ethics, or any other member may submit a complaint against him, which could result in his termination. Perhaps none of the PNG members regard Rick's sales tactics as unusual.

 

He doesn't claim to be, he is.

https://png.memberclicks.net/index....rams[task]=usersearch&params[templateId]=1931

 

I don't think legally he's misrepresenting his coins. He talks them up and ultimately there's someone out there willing to send him money. He's like a used car salesman. Many years ago I worked for a used car dealer while in high school and college. If the buyer saw the condition of some of the cars before and after detailing they'd be shocked. I wasn't a salesman and never could be. But I felt a sense of guilt when I saw someone bring in a car they purchased over and over for repairs. If only they knew.

 

So if a person asks and gets $100 for something they paid $10 for and has a real world value of $20, is that wrong or just being a good salesman? After all, nobody put a gun to anyone’s head to make the purchase. I’m don’t want to sound like I’m defending any of these TV people. I’m just asking the question.

BTW - last week my son bought a spent LAWS rocket launcher tube for $35 on Friday and sold it for $300 on Saturday to a dealer. Was that unethical? Should he have only sold it for $50 or $75? (Cited from: https://www.cointalk.com/threads/co...ring-rctv-rare-collectibles-tv.293380/page-13)

 

It's only unethical if he didn't give dad a cut.

 

In my eyes, their behavior lessens my opinion of them, even the PNG members.

I won't say which TV personality usually states something like this "buy it and put it away and years from now, you'll be happy you did". What they really are saying is "you're paying such a huge premium for this coin that it will take decades before the market catches up to the price".

 

Your sons sale is, in my mind, is a different animal. IMO, he made a nice deal.

What the TV sales people are doing is very different.

 

Which is fair enough. That said far worse happens in LCS and shows constantly. The memberships should have no baring on someones opinion in my opinion

 

I hear 'ya. I don't care for that behavior either. I do believe in most dealers. There are always a few bad apples in every bushel bucket.

 

Thanks to all for your excellent conversations. I started with RCTV about three years ago and have spent at least $5,000 learning which coins really interest me. I set a ceiling to pay no more than $500 for a single coin, and I'm glad I did. It has been fun. I noticed many of the marketing patterns you all have mentioned. Providentially, RCTV is no longer available on our FIOS in the Annapolis MD area. We have a good local shop with ties to a catalog (with Richmond in it's title). I feel fully confident in continuing my new hobby with them. Thanks again for the great advice.

 

I think 'Likability" of the host plays a much bigger part in his success than you give it credit for. The people who buy coins on TV are not really coin collectors. They are members of the mindless masses who hypnotize themselves daily into the artificial TV world that is scripted specifically to separate them from their money.

 

Good review. I look forward to your continuing efforts...Spark