Guy selling coins on HSN ripping people off!

I have to laugh the guy is selling ICG AND ANACS 2014 MS70 silver eagles for $100. You can get NGC AND PCGS ms70's much cheaper. He should be arrested for robbery!!!!

 

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Perhaps his buyers should be jailed for "stupidity" instead??

But then, what to do with the folks that actually watch the show?? That's the real question.

 

I preordered my 2014 PCGS first strike MS70 silver eagle from silvertowne for $57. Glad to add it to my collection.

 

I have to laugh at anybody that buys a modern coin with a mintage of 40 million graded in the first place.

 

This is America, anyone can sell or buy whatever they want. I don't think it's a ripoff, and even it it was, it's not the seller's fault but the buyer's for buying. I still think it's not such a bad deal. I mean graded coins always carry a premium, even in ANACS or ICG, that's why I think the 4 coin grading certificate they are throwing in with the coin has got some value, and imo could sell on ebay for 50.00+, I know there's none for sale on ebay and that because people who buy coins on TV don't usually sell or buy on ebay. You get the coin, certificate, nice box and free shipping for 99.95. I'm not saying it's an amazing deal, but comparing to their other deals, this is a bargain.

 

It is tempting to blame the buyers for their own stupidity, but I would bet that a lot of the people who watch shopping channels are elderly people. I've heard several times now of retirees blowing thousands of dollars on overpriced QVC/HSN coins, only for their heirs to find out what they've got is worth only a fraction of what was paid. While caveat emptor still applies, I think these tv coin sales definitely fall into the unethical category.

 

I think all graded modern coins graded At a 70 are ripoffs. With how well the minting process is nowadays they churn out a lot of 70s and %90 of people can't even tell the difference between a 70 and a 69. Graded 70s are the biggest scam out there.

 

Stop talking like that, Marti -- you're scaring the children.

 

I'll take it even a step further I think it's a scam to grade any modern coinage. If you buy an eagle or commemorative dollar it's about %90 you will get a 69 or 70 the minting process is so good nowadays. So your throwing away money to find out if it's a 69 or 70 when the majority of people can't tell the difference including the graders. I bet you could resubmit all the 69s and %10 of the time they'd come back as 70s the second time. So it's a double scam. It's a scam because most people can't tell the difference between a 69 and a 70. And then it's a scam again because your paying to Slab something you already knew was a 69 or 70 without even submitting it.

So i don't feel bad about people who get screwed by these shady hsn's. I like watching them to laugh at the silliness of the shows and prices. Direct tv has a coin and art channel 223 that is hilarious to watch. It's like watching the shadiest used car salesman show.

I think the desire to slab everything comes from when the minting process wasn't so good and you wouldn't get full heads or full bell lines or full split bands. I can see slabbing classic coins but anything from the 90s on is a double scam.

 

I was in my local coin dealer's store a few years ago, when some older gentleman tried to cash in his graded ASEs (most likely thinking he will be making a profit). I thought the dealer did a wonderful job explaining to the guy that he really wasn't into selling graded bullion coins, and the local market was not good for items like this. My heart kinda sank because I knew this guy probably won't get back half of what he paid for these items. It just shows that you need to be informed before making any investment these days.

 

...the responses here are making me laugh. If you can't tell the difference between a 69 and a 70 you need better glasses.

SCAM ????? hehehehehehehehehehehehehehehehehehehehehehehe
Watch out PCGS, NGC, HSN.....you're gonna be sued for running a scam.....

 

One graded coin with a total population of 40 million ?!?!? Which one is that?

Are you from Colorado?

 

What was it P.T. Barnum said?

 

I think he said, "Once this circus gig dries up, I'm going to go into the modern bullion coin grading business and make some easy money because there's a ..................................."

 

Sucker born every minute!

 

Some coins even have more 70's then the rest of the grades combined. Just look at 2013 w $50g buffalo's, proof and reverse proof. Both have more 70's the the rest of the grades combined. I guess this makes it a triple scam yes?

 

I do think these are a scam of sorts but in fairness wouldn't you expect a brand new untouched straight from the mint coin to get a 69 or 70? People buying them likely don't realize how little the grade means when there are so many of them, but isn't it the correct grade at least? Why should we be surprised at how many get high grades?

 

I hadn't see that, doesn't surprise me though. The minting process is just that good. Its such a waste to slab modern bullion and its such a shame people think it adds a premium to the item.

After this thread I was watching the coin and art channel during commercials of the football games and just laughing and laughing at there prices. They were selling BU 1976 silver Ike Dollars for $24.95 what a deal right. Oh wait I can go to my local coin shop and buy those for $12 so that's only a %207 markup. Better grab them all before they are gone

 

Art & Coin TV is almost as entertaining as HSN Coin Vault, but you can't play the drinking game with Art & Coin TV.

If you watch closely, they re-run their shows for months if not years. I think I remember seeing Rick Tomaska on one.

 

6 billion people in the world. You can sell anything to somebody.