I have a question regarding the coins that are sold on the Home Shopping Network (HSN). Yesterday, they were advertising 2010 ASE. They showed a slabbed eagle that purported to be graded MS70 by ANACS, dated 2010, first day of issue. The date on the coin was obscurred by glare or writing. I assume they could presell these, but how do they know that ANACS will ever grade one MS70 and how do they know they will get enough to fufill the reasonable demand? Do they have a source we collectors do not have access to? They were charging $99 plus S&H so I guess they can pay a lot to get them, but it doesn't sound right. They were also advertising 2009 Lincoln silver dollar commemoratives with four 2009 proof pennies. The price was outrageous ($199 plus S&H) but my real question is where do they get enough of the proofs to offer them? They claimed to have several hundred sets. Can they buy in quantity straight from the mint and if so, do they (or other dealers) get a better price than collectors? Or do they just have to buy them on the market? Or is it like the ASE they just charge so much it does not matter what they pay for them. I do not plan on buying from them, by the way, but the prices they charge are outrageous, even if they do put them in a pretty presentation box. I do not believe much of what they say, but it seems to me that for them turn a profit on a half hour or more of air time pushing these two things that the volume of sales must be significant.
With ANY of the TV hucksters (HSN, QVC, CoinCountry, etc...).....use them as a learning tool. Watch for entertainment value, then see what those same coins go for on ebay. Most of the time, you'll be able to pick up the same coins/same grades in PCGS or NGC slabs for MUCH less than their ANACS slabbed coins. The rest of the time, they'll cost SOMEWHAT less. Oh, NEVER use your phone while watching them. I only turn them on as I get to watch coins on TV. VERY infrequently you'll pick up a tidbit of info you didn't know, but you will ALWAYS know you can get coins for much less than they charge. Scary thing about it is, the do a brisk business, or they wouldn't be peddling them on TV.
HSN is a huge dealer and ripoff. Their markup on coins is way too high, and a good idea to stay away from. That said, they get their coins super early from the us mint, I think they have a satellite office very close to one of the mint buildings. They always have first strikes and something special to go with them. I remember the Lincoln cents and how quick they had them graded. Also, I wouldn't put it past a company like that to just slab them themselves real quick. They are very gung ho about making big dollars and they are always telling untruthful info. look out for them!!!
