"COINS - AS SEEN ON TV!" A Review of The Coin Vault

I have not seen this show in years. When I did happen to turn to it, I watched it for its entertainment value. I called the hosts “barkers,” and unless they have turned over a new leaf, that’s what they are.

 

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Look, if these TV coin programs introduce new collectors to the hobby then I applaud them. But we all know the deal. They are turning a buck just like everyone of the rest of us.... At the very least give @Norsk64 credit for offering an objective view rather than just body slamming them.

 

The trouble is I have seen shows like this push crap like gold or platinum coated State Quarters and bill them as “investment opportunities.” When a perspective collector finds out that they have been taken, it can turn them away from the hobby.

 

Just like others, they are preying on the uninformed. I personally don't care for that at all.

 

The coin vault... It's a J-O-K-E... Garbage... Everytime i pass by the channel, THE SAME CRAPP. Silver dollars. LOW GRADE GARBAGE and other trash. They make it sound that there "giving away" rare jewels of the Nile. They try and keep a serious face those 2 guys to think there giving away jewels of the Nile. I also love to watch Mike on HSN peddling his "stuff". STAY AWAY FROM ALL coin "dealers" shows on TV IF your smart. If you want to get ripped off buying krap, Deal with them. Buy at a reputable dealer people and sleep good at night.

 

This topic has to be some joke or something.

 

Why would you say that????? It happens to be a very serious topic of good people trusting these clowns on tv to purchase coins. Of course they should do there homework first, But, It is what it is.

 

I am talking about the original post who is praising Coin Vault, which we know is a ripoff scam.

 

And that, in a nutshell, is the long term damage that these shows do to our hobby.

 

Lots of ill informed people out there when it comes to coin collecting

 

There are ill informed people in all manner of commerce. Heck, I own a business that fully relies on technology to function. I struggle answering an email..... Thing is, we live and learn. TV coin shows are doing the same thing every one of us is doing. Making a buck to feed a family. We can poor mouth them all we want. What’s that accomplish? May as well poor mouth every money making venture. That’s certainly in vogue these days..... Rather we can educate folks via interested youngsters or even by use of this forum.

 

In business, there is a difference between ethical and unethical behavior. Turning a profit via hype based on false information is not ethical. I never bad mouth honest coin dealers who have a profitable business. In fact business success is an indicator that that seller is a good source for material, but it’s not the only indicator.

 

I don’t disagree at all. However think about it.... People flock to shopping malls to purchase sneakers for $150.00 that can be had at Kmart for thirty bucks. I run to the corner convenience store and spend six dollars for a gallon of milk that I can get at the grocery store half that price........ It’s about being savvy enough to target a market and capitalize on that market..... Look, I do not deal with TV coin hawkers. I am just on a personal mission to decriminalize capitalistic ventures in the 21st century.

 

I do not disagree with anyone's comments pro or con about The Coin Vault. They are overpriced. They are knowledgeable concerning the inventory. They do take advantage of naïve collectors. They are collectors themselves. You do have to give them credit for longevity on TV, and I believe the reason is they are likable because they are professional marketers. If they sold cars, they could sell them as well. I flip through their shows when on the air. I do not buy, but do like their presentations. If you do not like them, change the channel.

 

I used to watch the show about 15 yrs. ago...the show was called Coin Country back then. The two main hosts were Bob Chambers and John Bins who wore the funny hats. They sold a lot more single type coins back then, but still were over priced on most stuff...I bought a run of proof and mint sets from them at a fair price and were nicer quality than ones for sale now. Just got lucky I guess...the 1956 Franklin they included was the type 1 variety but they never caught it!

 

In their defense, these TV coin salesmen do have most overhead that most coin sellers. Therefore one would expect their prices to be higher than most full time dealers. The problems come in when they imply that you making an “investment” when you buy some of the stuff they offer. Heavily promoted coin sellers got into big trouble when they made claims like that in the 1980s. The FTC came in and shut them down, and I think, sent some of the owners to jail.

Coin dealers have to be really careful when they make claims about “investments.” A claim that can get you in a lot of trouble.

 

On their website they advertise Proof Sets form 1964-2011 for $599.00. Have no problem with the price, The problem is there were no proof sets made in 1965, 1966, & 1967. Imagine that, advertising and selling things that don't exist. Now tell me again how great they are. I like the way they stand there and smile at you.

 

From the TV presentations, they include the 65, 66, 67 SMS as a free gift in the purchase of the 64, 69-2011 proof sets. I am not saying they are great, but they tell you on the TV presentation, no proof sets were issued in 65, 66, 67. They usually include the 76, 3 coin set as a bonus as well.

 

Website clearly said, Proof sets 1964-2011. I said nothing about presentations.

 

I've watched The Coin Vault, for a very long time. I really enjoyed it, when Robert Chambers, and Scott Houk, (and sometimes other special guests), were the hosts, working out of Murfreesboro, TN.

Back then, they told you about the item, (whether it was a coin, note, medal, or other collectable), with great knowledge, and important information. They're selling the item, so they can keep the show on the air, so there was the typical sales tactic. However, unlike the current hosts of, Andy and Tyler Abel, they didn't try to shove it down your throat.

The current hosts, won't be around very long, the way they present the items. They will soon have a brain aneurism, the way they try to make you think, the item they're selling, is going to disappear forever, after their presentation. I do still like to scan through the show, but I record it and fast forward, so I don't have to listen to the BS they push.

There is really only 2 main things I can't stand about TCV.
1) If you're new to the show, you'll see very quickly, they record their presentations, and you'll only see about 2 hours of actual live footage.
2) Any time there is a low mintage item, that you know you're going to want to get, they scoop them up from the mint, and jack the price up by 1000%.

There has been several times, I've wanted to purchase one of those low mintage items from the mint, only to be told that they were sold out. A few nights later, you'll see that item on TCV, for 20 to 90 times the price, I could have purchased it for from the mint, had they not bought them all, before I could purchased it from the mint.