Hi all: Has anyone heard of this firm and had any dealings with them? They seem to be a firm that gathers sets or "Rare" coins and offers them to the investor community. Any input is greatly apprecaited! Thanks, G.E.
Generally speaking, when coins are offered to "investors" they are likely to be over-priced, often, considerably so. However, to be fair to them, could you provide us with a few examples of what they are offering and at what prices?
offering details they are offering PCGS PR69 DCAM for the ike, SACs and SAB dollars. 22 coins, all PCGG graded PR-68 DCAM. they are asking $895.00 plus shiping and handling.
I am admittedly strongly biased against those types of coins, avoid them and have a strong hunch that they are a bad deal. However, hopefully some posters who are more familiar with modern coinage will chime in.
I would have to say that is definitely not a deal. Those coins wouldn't even be worth a third of that.
thanks! all: Thanks! you confirmed by gut level feeling. I want to start a high grade modern collection and that would have been a nice way to get started if the price had been right!!
Agreed. They're marketing to people who don't know coins, so they know they can "do the hustle", as we said in the 70s.
Never heard of them. However, with the coin collecting boom being what it is now, new dealers, coin shops, coin books, on line coin companes are poping up faster than humanly possible. They are everywhere. Be carefull. So many of them will vanish after a few sales.
They are offering Silver Eagle PCGS MS70 First Strike for around $159.00 which is limited to 5 per person.. Larry
Limit of 5 per person unless you want more I am of the opinion that "first strike" offers are gimmicks aimed at the uninformed and that it's even worse/more dangerous financially when super high grades are involved.
Stick to Kitco for pricing guide lines. As they are a Canadian outfit they can not always ship certain products to the US. Some times you find marginally better pricing at other BULLION dealers. Most of these "collectible" bullion coins are come ons. The sale of insurance and high shipping and handling fees should also be a consideration. How is the Government going to confiscate gold? The same way they have conducted the war on drugs? The Gov't has no way of determining who owns 80% of the privately held gold bullion and gold bullion coins in America. Now there are the bullion silver ,palladium and Platinum coins as well. Is the metal in a 50 ruble palladium Ballerina worth anymore or less against spot than the metal in a 1927 US quarter. Some perhaps. Coins have two attributes that provide them some premium in value to bullion. One is they are pleasing to the eye and have "some" standing as art like a Bugs Bunny stamp. The other is that they are more easily recognized for their being minted having quality assurance and authenticity from a recognized government mint. Some times you can do pretty good buying on E-Bay. The Woodstock Generation is 60 million strong. Vietnam taught them a strong life long lesson, do not trust the Gov't. Many of them took out 10-17% mortgages on their first home. With more than half and inheriting another 25% of the nation's wealth they are not turning any thing into the Govt., least of all their gold or other bullion that they have put away against a return to the fiscal fiasco of the late '70s and early '80s. Are the piles of brass, copper and nickel scrap that Chinese pig farmers are putting in ten foot high piles on land they don't really own safer from confiscation than the gold Americans hold? Any attempt to confiscate gold in America would result in a very quick drop in the value of the US dollar by half of it's then current value. We will all be paying $20/Lb for coffee eventually any way. But by then a beat up non-collectible one ounce Libertad, someone carries as a good luck piece will be worth over $100. Precious metals are just another investment class that all investors probably should have some portion of their wealth stored in. Less than 10% of those who do so are "investing" on the basis of collectibility. Beside gold Dubloons there were pieces of eight and two bits. That is, actual bullion coins were cut into eight reasonably equal pieces. There was no quibbling over whether they were exactly equal no more than any one today worries about any of the pennies in change they often put into the tray next to a cash register. When we return to that level and we might very well go there, no one is going to care if there are a couple nicks or scratches on your two bits of a silver American Eagle that has been chopped up with a chisel. All of our experience is the portal through which we view the future. The pre-'82 penny is the last "precious" metal coin left, that is commonly in circulation. As those pennies are worth nearly 2 cents in terms of their copper content they are not just valuable as bullion coins they are collectible. They are to become increasingly so as millions are melted down leaving the actual numbers in circulation and set aside by collectors dwindling. Copper pennies are then very much more valuable as collectibles than un-circulated mint proof KruegerRands. Then there is just buying SZR?
They sell NGC/PCGS graded MS69 UHRs for only $2299...WooHoo! Pssst...:secret: they're $1389 directly from the US Mint (not affiliated with GovMint.com)...ungraded, of course
Hahahaha! I JUST checked the mint site, and was about to make the exact post! I pull my hair out when I see them going for 3 grand on the coin TV shows... Joe
Stay as far as possible from First Federal Coin. They robbed my elderly father blind over a two year period. Even now, 18 months to 3 years later (and after great appreciation in both the gold and silver market) the market value of what they conned him into buying is approximately 1/3 of the money he originally spent. This company is all jungled up with an investment advisory outfit called Agora Publishing, who shills for First Federal Coin with it's subscriber base, getting a cut of any sales First Federal gets out of the deal. Bad, bad folks.
first federal coin corp and it's other shell companies to grossly overcharge newbies this is in addition to the post I already made about First Federal Coin. Here is the list of the other company names they use: New York Mint LLC 1stFederal.com Preferred Customer Club GovMint.com Asset Marketing Services, Inc. avoid these companies.
Holly Crap on a stick! They have the 2011 CLAD Proof Set for 49.95!!! You know the ones you can buy mint direct today for 31.95!!! Not to mention there price for the Clad 2010 set is about as much as the 2010 SILVER proof set you can buy today - mint direct!!! Seriously! When will this madness end! I'm afraid to go any further into the site as I might go Elvis on my Computer Screen! Bad enough I wanted to go Elvis on my TV watching the coinvault yesterday!
Asset Marketing Services (GovMint, First Federal, New York Mint, Stauer) is reputable but expensive for certain items. They do accept returns and are easy to deal with. However they also offer some very cool exclusives...personally I like some of them just because of they way they look. If its the onlyplace to get an exclusive then you pay the price. I picked this GovMint exclusive high relief Isle of Man Gold Noble up the other day. I couldn't be happier...and I don't care to sell it for any price. So any loss or gain is unimportant.
