Guy selling coins on HSN ripping people off!

I take offence to this as I am an elderly and I am not stupid yes I do watch them on tv but laugh at the way they sell and in 40 years of collecting I have not purchased one and have talked to collectors my age and older they feel the same yes pushing 70s

 

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It's almost like watching a car crash, you don't want to, but you just can't seem to look away....

 

He must have an army going through boxes of quarters so he can change$100 for a $15 W 2019 quarter. Really that program was for the collector beginner and to get interest in our hobby not for some scammer to profit and make hobbyist s look like common criminals. He should be banned from tv.

 

I've been collecting for 39 years.i don't take offense. Sadly it's true, many of elderly people do fall prey to scams like Mesaks. Young people too but sadly it's true" no fool like an.....

 

Thank You. Exactly. Twice over.

I'm glad to hear the term, "ethics" enter into this discussion.

The attitude that "well, anybody should go ahead and sell any crap to any gullible person for any reason at any price" is a thief's logic. Especially when it applies to our elderly.

Yes, as buyers we have to have our malarkey filter on all the time, but for those of us on the other end of the transaction we should keep in mind the adage that "character (and I would also argue, 'ethics') is what you do when no one is looking (or caring what you do to others)."

 

It's the MS70 part that makes them buy. Perceived rarity.

 

I tune in about once a week for a good belly laugh. While he is quite the embellisher, Mike often provides some bona fide info on what the mint is doing. The newly announced S minted ASE should be showing up on Mike's show soon for about triple what the gov is asking for it, I'll guess.

 

There are many who think they can.

 

It's true, everybody drives a used car. My 2010 car was bought brand spanking new at the end of the model year. It is a very popular sport model that, even today, gets lots of compliments. I drove almost 200 miles to a small-town dealership that still had one in the limited edition paint color I wanted. A friend of the past 30 years asks me if he can buy my car from me whenever I am ready to buy another new car, but he knows that I usually keep a car for at least 15 years. My 1992 Honda Accord—the worst built car I ever owned—was an exception as the repair bills started mounting within days after my warranty expired. Like my current car, it had been driven fewer miles than allowed in the then 3-year warranty. Still, my wife loved the thing, so I dumped the price of a new car into it for her over the next couple of years, but then traded it in on a brand new Mercury Grand Marquis that she has been driving trouble free for the last 19 years. She insists that it's the best car we've ever owned. That's why somebody might buy a new car.

 

In this instance, I would think it is one of those discount MS 70"s.
Probably graded by Eds bait shop and grading service.
The incentive provided to graders was, $1 for MS 69 and lower. $10 for MS 70.
So far as I know, these coins received no special handling, aside from distributing them everywhere. Unlike ASE's mint sets and proofs, etc.
You can find some nifty looking coins in mint rolls for circulation, but how many are realistically MS 70?
Buy one for $100 and find out!

 

Sometimes it's the First Day Of Issue perception. How in the hell do you certify First Day Of Issue for a coin coming out of the mint? Does he, or someone he knows, stand at the end of the production line for the first 24 hours buying up each and every coin for the day to then turn around and have them graded to see how many 70s he can get? I highly doubt it.

 

You buy it from the mint as soon as it goes on sale and have it shipped directly to the TPG with that days postmark. Standing at the end of the production line wouldn't help because they are struck, at least the initial ones sold before they go on back order, well before the first day of issue.

 

HSN buys them by the thousands on the first day minted and most likely has them drop-shipped straight to NGC. When they buy as many as they do, it's very likely they're going to get plenty graded MS70. The rest are probably MS69. I would guess they have a deal with NGC not to slab any that would grade lower. They sell all the slabbed coins on television for way too much and probably dump the ungraded coins through dealers.

 

You don't have to buy it. He has the god given right to sell anything he wants.

 

And to ask any price that he wants. Asking a ridiculously high price is perfectly legal.

 

With the Chinese faking everything but human organs a slabbed modern gold issue is worth more to me than ungraded because at the very least it's (more than likely) genuine. No way I'd buy an uncertified modern gold on Ebay or most other auction sites. To say a slabbed modern bullion coin has no added value over raw is inaccurate IMHO. Esp. higher dollar stuff bought online. Not necessarily ASEs.

 

Good grief. Why is there so much drama over this?

It's like you go to the supermarket and cry foul over priced of bottled water. Vending machine? Out in the streets? Even more.

Moral of the lesson - no one is forcing one to buy. Shop around and know what you are getting.

 

Almost everything on HSN (and QVC) is way overpriced. It's not just the coins. TC

 

It's fun to watch when Wolfgang Puck comes on to hawk his wares, though.

 

Of course the Chinese are marketing fake modern gold coins in fake slabs as well.