Now that’s a pricy label....

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coin TV making this hobby look bad again as always.

 

I'll buy that when pigs start flying.

 

All fluff and no substance.

 

This is an example of why the label and grade on the slab matters. People who say that the grade stated on the slab is "only and opinion and does not matter" should look at this.

It was my understanding that the mint sold all of these coins very quickly and that the collectors who tried to order them on-line got shut out ... again. When sellers are making mark-ups like this and have this material in enough quantity to market it on TV, don't tell me that stuff doesn't go out the back door of the mint.

 

TV will almost always be more expensive regardless of what it is, production costs are huge and the selling channels take a big cut of sales

 

I agree. Many coin collectors do not understand the "levels" of the coin market. Its just like any other market.

Put it this way, do you ever buy groceries at small or convenience stores? Well, that is stupid, because a grocery store is cheaper. Buy groceries at a grocery store? Well that is stupid because you can go to manufacturer stores and get it cheaper. Buy from manufacturer stores? Well that is stupid because sometimes a broker can find it cheaper.

See what I am saying? If you spend the time to seek out specialized venues, and have that knowledge, you pay lower than less specialized, or more retail locations. Every single person who ever buys at convenience or grocery stores could also be called "stupid".

Put it into the coin realm. Anyone who buys on tv versus magazine ad is "stupid", magazine ad buyers are dumb versus coin store buyers, who are dumb versus auctions (maybe), who are dumb versus dealer to dealer prices.

Understand? The more knowledge and less convenience the better the price, in groceries as well as coin.

Having said that, I am with @johnmilton , something is majorly broke in distribution of these, and I am 99.9999% sure it is the MCM's of the world hiring people to teledial for limited offers. I go back to the mint should reward long term customers with these FIRST, then offer it to the MCM hacks after their customer list is offered them.

 

Sometimes that's true, and sometimes it's all marketing.

Years ago, when I lived in New England, there was highly advertised discount grocery chain that claimed they beat the regular store's prices. You had to bring your own bags and pack your own groceries after you bought them. I was single and had been doing all of my grocery shopping.

I went to this place once. It was hell. They didn't have most the brands and the selection was terrible. Furthermore, the prices weren't all that great. You might save a penny or two if that. I also ended up with a carton of off-brand milk that went bad in two days.

I think that this place's marketing strategy was, if it's hell to shop here, you must be saving money because of the extra effort. In a word, NO.

I would say the same about shopping for coins at most flea markets and antique stores. It's usually not very good and the chances of getting skinned are quite high if you don't know what you are doing or don't know about other segments of the market.

 

At $699.95 each with 3 flying pigs I'm on the hook for $2099.85!
I feel like I'm being squeezed.

 

True, just like some sellers on Ebay try to lure you in by making you think its a true inheritance or "old unsearched group put away in 1938" garbage as a marketing scheme, marketers do it in all markets. Again its knowledge. Want a 3 pound package of good processed cheese? I can show you where to get it for $7.20, 11.45, and 15.85. Exact same package. Same with coins. I bought my avatar after going through dozens of copies over the years. Worst coins than mine are currently listed for $2500-3500 more than I paid a couple of months ago. Its all about knowledge.

Those who buy on tv lack the knowledge to buy it less expensive. But, like @baseball21 said, the tv people have high production costs. Its not immoral to charge what they charge, just like its not immoral for that store today to charge $15.85 for the same package of cheese I can show you where to buy for $7.20. Knowledge and willingness to seek out knowledge allows some to get better deals. Always has been in capitalism, and always will be. Different markets. Don't like it? Put down the tv remote, get off your rear, and learn a better way. Its not as convenient, but that is their choice, right?

 

Well the part that collectors are also missing with that view is the big dealers ARE their long term best customers. The big boys will spend far more in a year (spending millions) than a collector will in their lifetime. So they would actually be rewarding their best customers if they gave them first shot at a percentage of the montage. It’s also a lot cheaper for them to sell a bulk amount to a big buyer who won’t return what they buy then send everything out to individual collectors who generally have a significant or at least not insignificant return percentage

 

Agreed. They have to charge those prices to cover the costs and give the stations their percentage and still make a profit. The margins are wayyyy lower than most people think

 

True. I would say if MCM, (I am not picking on them, its just they are a well known firm of modern coins, I am using them as a proxy for all of them), buys 5% of proof sets and other retail products a year, I would say they would be entitled to 5% of a limited issue. I would guess, however, that that industry by their practices, effectively buy a LOT higher percentage of those issues than they buy of other retail products. Hey, the mint sets the rules, I would do the same if I were them. I am simply saying the mint should CHANGE the rules and get more of these limited issues into the hands of their good long term retail customers than is happening now.

 

The actual limited products like the v75 everyone has the same chance at. When they end up with a lot it’s because people sold them to them for a profit. The mint can’t nor should they control what people do with the products on the after market.

The only time they get any first shot is on high mintage things and they actually have to pay more and pick the product up themselves when they do. Even on those it’s a small percentage (like 10% maybe) of the total mintage they can do that with.

 

I believe they were selling other 2021 proof 70’s for $200 or so. Although 400k is not what I would consider a mintage for a rare coin, I don’t think $200 is too outrageous.

What I find appalling about this offer is that the selling point is the “Advanced Releases” designation, meaning they were purchased prior to their official release by the Mint’s big buyers. What value does that add to justify the additional $400 - $500 markup???

 

Well look at it this way, not everyone that like the advanced release ones will want a “normal release” one which keeps the prices lower on those and leaves more for the people that don’t care about that designation.

 

Yeah but. I am sure you could categorize those who only call in to buy coins and are already locked in and notified of the opportunity by the MCMs of the world as "collectors who sold to MCM at a profit". I believe a more correct designation would be "MCM contractors who would never think of ever calling the mint to buy something unless MCM guaranteed them a profit".

That is the reality. They are using effectively paid hands to call in to buy coins other collectors are shut out of, they are guaranteed a "profit" (really a wage), and the small collector gets ripped off having to now buy from MCM at a hefty markup. Please do not try to pull the wool over people's eyes by saying they are simply collectors who sold their coins to MCM. They are agents operating at the BEHEST of the large firms to be able to jack up prices to collectors unfairly. THAT is the only aspect of MCM's business model I object to. If people wish to buy other stuff from them fine, more power to them, god speed, and all that. I simply object to them hiring people to steal spots in line from regular collectors.

As I said, the mint needs to change their policies to prevent this abuse. How about this? When the orders open up, you need to order with an account number that has made 5 other mint purchases the last 3 years BESIDES limited edition coins in order to place an order in the first 2 hours of availability?