Is the lack of facts a scam..

You know, being devils advocate and all.... I could see myself at 85 years old locked up in the house waiting for the meals on wheels delivery longing to hold an interesting new coin in my old hands..... Back in the 1970’s overseas in the Army I signed up for Littleton’s coin on approval deal. Getting a few overpriced coins in the mail every couple of months halfway around the world in the days before interwebs kept my numismatic fires burning.

 

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I'm glad you figured this out. How long did it take, 50 years?

 

What's that Forrest Gump saying? Stupid is as stupid does.

 

The guy we’re talking about does more than sell a few overpriced coins. A lot more.

 

More like I've known it for 50 years.

 

I think the shows are a scam and then I watched Pawn Stars with Rick Harrison and how he tries to get a decent appraisal and then go from there with his customers. The prices on the coin shows are quite out of bounds with the prices. However, I guess people should me more wary of the deals and they do sound good, I watched this morning and they are convincing.

 

I don't like the idea that the coins are going for way more than what they will ever be worth AND that the attraction comes to people who are none the wiser or the elderly. What we as collectors and numismitists can do is inform our friends and family of why they shouldn't purchase here.

 

Then don't be like me and buying stuff from the US Mint........

 

Hahaha, I never thought of it that way. Guilty I guess!

 

ON MIKE MEZACK-
He did get the contract with NGC on the flag core design which i actually like a lot.
The core is to change every year NOT the labels. This year flag lines are straight in 2019 the core flag waves and who knows from there... I am tired of the LABEL days. To me a proof silver eagle is a proof silver eagle S or W whether in an annual dollar set or congrats set the coin is the same.
Im still having a hard time seeing someone buy a 2016 silver eagle in ms 70 for $2000 because it was in the annual dollar set over a regular ms70 for $ 89.90
He has a good idea on the core and keeping labels the same i have 2 2018`s and will keep buying.
NGC is the second best grader for sure now...The Block island silver quarter in reverse proof has proven this to me. NGC is grading 70s hand over fist, PCGS has graded some 200 in 70 due to scratches under Washingtons bust. I can clearly see the scratches with my loop in the NGC example. PCGS found this scratched area. I will be sending my coins back to NGC and showing them the error

 

I've watched them advertise MS70 bullion ASE's for something obnoxious like $90.

 

I agree but when you're super inflating numbers, and making something seem exceedingly rare when the United States mint or whatever country minted billions that ain't rare and then you try to pawn if off

 

Really though it all comes down to the free markets. Fortunately most of us here are savvy enough to know there are far better deals on Mezacks bullion offerings. Myself, it befuddles me that folks will go to a shopping mall and spend $200.00 for a $20.00 pair of sneakers. I think that is near high treason...... The guy has obviously garnered himself a market. I don’t begrudge him that..... Whole point being our free market system is the engine that gives us all our cushy lifestyles. And we all have a choice where to spend.... Or throw our monies away. Whichever the case may be.

 

Randy, I prefer to be the guy that buys the $200 sneakers for $20 because they are overstocked and overpriced. lol

 

I do agree with this in general, but having watched the show here and there for a few years I will say that some of the things being said are getting a lot more questionable and a lot more into the grey areas. Some of it very well could be that he just misspoke, but it doesn't always get corrected if that is the case.

 

I am still waiting for the US Mint to announce that you can likely purchase their products for less money in the weeks or months or maybe a few years after release on eBay.

 

Yep. I've heard from a coin dealer that people will come into the shop to try to sell their parent's/grandparent's coin collection bought from these TV infomercials (with the receipts), and the dealer has to tell the family just how much the stuff is NOT worth! People can get a little angry when they hear this... but then they go to several other locations and find out the same thing.

It is ignorance. And yes, we "cannot legislate stupidity out of people."

My question is this: Which of these do we want?
:
1)Do we want a market environment where the consumer has to do their own research (buyer beware) and businesses are not impeded in their legal-but-unethical scamming of our elderly? or
2) Do we want better consumer protection in the form of mandatory disclaimers or some sort of Public Service Announcements?
3) Or is the current system of consumer protection enough?

 

Yeah.... My dealer tells me the same thing. Every week he has a new selection of the slabbed bullion brought in from a family members estate. They are always hurt and disappointed at just how much their bullion was really worth.

But yes you bring up a valid point. As a businessman and a guy that has made his own way all his life, I personally loathe oversight in any and all forms. I heard a news report some time ago that some state was outlawing giant sized soda drinks... REALLY?? At what point do we protect ourselves from ourselves?

 

There is a way, but it is so non-PC that it will never happen outside of dystopian novels

 

The problem is this: We have this site, other sites like it, coin clubs, etc. to share our views.

HSN has cable and satellite systems nationwide to sell its overpriced wares.

Not much we can do about it if the uninitiated want to.....