Message:

<p>[QUOTE=&quot;kaparthy, post: 859, member: 57463&quot;]Replying to Chris Fuccione Jess started a discussion on rip-offs. Rip-offs are like Art (or pornography).&nbsp; You cannot define it, but you know it when you see it. WVC and HSN are not rip-offs to me.&nbsp; They sell in the open and deliver what they promise.&nbsp; You might say that people pay &quot;too much&quot; for coins.&nbsp; Basically, everyone does.&nbsp; The seller always makes a profit.&nbsp; The last buyer (even a professional dealer) is always stuck with their coin until they can find someone to unload the goods on.</p><p><br /></p><p>Some collectors think they are smart to walk a coin show with Greysheet tucked under their arm to show the dealers that they are knowledgable collectors who will not pay Red Book or Trends or maybe they are trying to look like vestpocket dealers.&nbsp; Dealers use those Greysheets as a way to spot easy marks.&nbsp; </p><p><br /></p><p>Serious dealers belong to the CCE (certified coin exchange).&nbsp; Since the days of teletype in the 1960s, there have been backroom circles of dealers to whom &quot;wholesale&quot; is a way to unload stuff no one wants.</p><p><br /></p><p>At ANA conventions (and NYINC), very few collectors go to the auctions.&nbsp; Dealers go to auctions.&nbsp; If you go to such an auction you can buy Saints or whatever way below so-called &quot;wholesale.&quot;&nbsp; Heritage in Dallas has Garage Sale days where dealers pull up with vans and cart away tons of coins Heritage cannot sell and they buy them at prices that let them make a profit at Greysheet Bid plus Shipping and Handling and Gas to and from Dallas and Meals on the Road and the Motel and and and and and....</p><p><br /></p><p>When you go to a coin store and spend an hour looking at Walkers to buy a $15 coin, you do not count the value of the time you invested in your &quot;bargain.&quot;&nbsp; You are &quot;enjoying&quot; yourself.&nbsp; People who shop at coin stores, or QVC or whereever, pay also for the convenience, the friendship, or whatever other intangibles they perceive.</p><p><br /></p><p>It is true that some media sellers claim (har har har) that these coins are &quot;heirlooms&quot; that your family will treasure for generations, when in reality these coins are junk that no one will want.&nbsp; THAT IS TRUE OF ALL COINS.&nbsp; Only the collector values them.&nbsp; There have been huge collections of high grade rarities of US and other Numismatics dumped on the market via auction because the heirs wanted to get a quick 100,000 dollars for a million dollar collection.&nbsp; They had no interest in the coins.&nbsp; Old coins are junk to most people.</p><p><br /></p><p>Also, there are levels of knowledge.&nbsp; The old person who buys a VG Morgan for $25 and does not know about the Red Book is disadvantaged.&nbsp; So is the person who buys an MS-63 Red 1946 S over D Lincoln for $200 without a Population Report.&nbsp; </p><p><br /></p><p>Price alone does not define whether the deal is honest or not.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in