I have a question concerning coins I see on tv for sale. You watch part of a show and they will be selling lets say Morgan dollars either one or several as a group. It could be Peace Dollars or Franklin halves, just using Morgans as an example. They are slabbed and decent grades by NGC and/or PCGS. The price really has nothing to do with my question. So you watch part of another show 2 weeks later and there will now be Morgan Dollars for sale as brilliant uncirculated. They look good, cartwheel nice as they either move the light over the coins or visa- versa. My question is as good as they look why were these coins not sent in for grading. They can certainly get coins graded cheaper than I can. They would be worth more money if they were graded resulting in a higher price. I'm sure there is some cherry picking, showing the best on the show, but they all have free returns. I'm not sure who pays for the return, the buyer or seller. A secondary question I suppose is this. Lets say someone bought this five coin set of Morgans and the buyer sent them in for grading. What would be the likely outcome for the coins? Are they really brilliant uncirculated? If they are BU as they were sold then they all should grade MS 60 or better shouldn't they? The other thing is if you buy them and send them in for grading I'm sure before you find out anything on the coins the return has expired. I would also say to get a free return they would have to be in their original packaging which I guess you could save before sending them off for grading. I can assure you I'm not asking to work an angle to do this, don' t have time or desire.
Don't consider buying. Because the cost and the less than optimum chance the coins will receive a Grade that is worth the economic cost. Not very satisfying outcome, and a grade of 60 will be very disappointing to you, economically. Of course, but there is no promises or guarantees by the TV Seller anyway, and it is his "opinion". Better to spend the money tossing Quarters into little glass cups at the local Carnival for a stuffed animal. The only "angle" is the TV Salesperson transferring money from your wallet to their wallet.
I'm not planning on trying this, just curious. I agree I have seen many higher grade AUs look better than low grade MS. I have won a few stuffed animals in my past at the county fair. I'm just asking why they do this nothing more, nothing less.
Everything that @charley said. Plus, you have to consider that the raw coins shown in the infomercial (The cartwheely, BU ones) aren't necessarily representative of the coins that you would receive. They are picking out the cream of the crop and using them to lure you in. Not saying that there might not be exceptions (I haven't seen any), but as a general rule, you're better off just assuming that anything sold on TV is a ripoff. If the coins were worth what they are charging, then they wouldn't have to prey upon the ignorant public in order to sell them.
I'm not buying anything from these people. I stated I thought there was probably cherry picking going on, meaning they show the best they have. I don't believe all people they sell to are ignorant. Some sets or semi sets they put together woud require a lot of time to assemble, and maybe the have the time or are wealthy enough they don't have to.
Sorry, I should have been more explicit. I was using "you, you're" in a general sense. I'd realized that you hadn't made any purchases. Must of glossed over the cherry picking part though, so I guess we were on the same page to begin with
The coins are not what they appear to be. You can take a coin that any grade but on the higher side of that grade and treat it so it appears to be the next grade. Sliders come in all grades. Stay away from these people. Best not to watch them at all.
I was never asking the question about anyone buying these coins except for the minimum they would have to grade to be what they are advertised as. The question was regarding why they don't have more of these coins graded than they do. I said the price has nothing to do with the question, it is about the coins themselves.
It's not cost effective. Cost more to have them graded than the profit realized by the grading itself. The added value in a heavily populated coin in moderate grade is low in comparison to grading fees.
How is that possible, A ton of MS60-61 coins that ain't gonna pay the bills when times are tough, Those coins are worth melt.
Unless you are referring to some VAM varieties (Die varieties of Morgan and Peace dollars) putting together most sets of these coins is not that hard. A date and mint collection of Morgan Dollars is easy to find. The hard part is getting the money to pay for them. The 1893-S is what some people call “the king of the Morgan Dollars.” Yet, I was at a show where one dealer had 17 certified examples in a range of grades from VG to Choice AU. If you have the cash, you can be assured of going to a major show and finding a least a couple 1895-P coins in Proof. The supply of Morgan Dollars is huge because millions of them were minted and never used in circulation. Many date and mint mark combinations are very common. The coin is extremely popular, however, which pushes up the prices.
Most of you know my story about how I got into collecting coins. Anyway, I got a ton of coins when my father passed. None were graded or put into some type of protection, anyway, that was my first act to get them in a 2x2. That got me going, but I was still a very ignorant collector. My first purchase was on a TV show. Our "friend" Mike was selling a tube of 1921 Morgans. They looked nice compared to the Morgans my father had, so I bought the tube of 10 Morgans for $500. My next purchase was from "Rick" for an American Silver Eagle One Ounce Proof Coin that was graded MS70. I paid about $175 for the coin. "Rick" advertised that I "MUST" have the coin. Thankfully, I found Cointalk and someone that was wiser than I was. He was a dealer and he was and is a good friend and someone I feel I can trust. So far, he has been right in coins I thought I might want to buy. I want to tell you guys and gals, this website is far better than any other that I have found, although, I do look elsewhere from time to time. Thanks for all of the help you have given me. By the way, I do buy a coin now and again from ebay, but they have to be graded by NGC or PCGS, not to say the others aren't any good, but when you are buying from ebay, Amazon, or any other source, BE VERY CAREFUL. As they say, "A fool and his money are soon parted."
