Shopping Channel Coins

[MrBling]

I was bored and flipping around the channels tonight when I came across those two guys who are regularly on one of the shopping channels with their coin show.
I thought their prices seemed awfully high, so I pulled out the Redbook and checked it against their asking prices
I found that not only are their prices high, they are skyhigh-30-50-100% over Redbook value, which is itself a bit high
On the other hand, on some coins it did say "make an offer" on the screen so perhaps they are selling for much less than the asking price
I can't believe that someone interested in coins would be so lacking in basic price information as to pay what these guys were asking
So has anyone dealt with these shows? What's going on here?
Just curious

 

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[acevillav]

It's a sad fact of life amigo. Those vultures prey on the newbies or others who know nothing or little about coins. They are seduced by the lure of an easy way to get something of " alleged high value " the quick way. Too bad they don't take the time to do a little research or chat with the folks at a local coin shop. Karma has a way of coming back on those people and their ill gotten gain. I'll get off my soap box now. thanks for listening to me vent.

Acevillav

 

[Casull]

They definitely are out of whack with the market. I remember a couple of years ago, I was buying BU double eagles for about $550 and these guys were selling them for right around $1,000. Couldn't believe they were getting any takers, but they were paying for that tv time somehow.

 

[Drake]

people will buy .... ANYTHING

 

[bradyboy]

Basically its a medicine show of sorts

 

[Detectingfreak]

Do not go to the shopping channel and buy coins from those guys! If you want coins go to some local coin shows in your state. Right now I am on the verge of compleating my large cent collection. Everyone is into the silver collections and wheat penny collections along with other collections around here. But no one has a lot of large cents. The least graded value I have ever bought for a large cent was VG. If there is a coin that you cannot find at a coin show then and they advertise it on the channel then get it. Only if you must have it.

 

[wagbert]

NEVER buy plated (or layered as they like to call them) coin from anybody, anywhere, anytime.
Pure JUNK!

 

[Siegfried Schlagrule]

When Grannie spends $5000 on heirloom necklaces for all the daughters and grand daughters she will spring for a $1000 on a gold coin for grandpa. Lots of those first day strike coins are going out as presents to coin collectors who laugh when they get them. Wow, they made 500 million of this coin but only 3 million the first day. That's gotta be worth a 1500% premium. siegfried schlagrule

 

[bradyboy]

theres an ass (can i say that here) for every seat
if you put it out there........

 

[oldplacesnofinds]

I have seen an ad in the paper where a guy will ship you one wheat sent for a dollar. Now, a lot of people think these are rare coins and for a buck, why not buy something you do not see everyday. Of course, you can still find a wheaty in your pocket every once in a while. I am sure he is laughing all the way to the bank. Those jokers on tv make me sick. Especially when I think back to all the years I sold on Ebay and never got much more than market value. Like someone else said, they do have to pay for their spot.

 

[1320]

There is one show that is worth watching strictly for entertainment value, Jimmy Erskel! He has a hot babe that helps him out, phones ringing off the hook in the background......and another one just sold, another one just sold...we're down to just a handful of these folks........

It comes on way late at night...for us drinking coin collectors

 

[bradyboy]

1320 - LOL
I'm with you
These shows are entertaining, especially when they put a caller on the air
yeehaw
Seems the callers are often from the Hooterville or the Petticoat Junction area
They often have ordered the item before and have to have another as a gift to a relatives celebration
Sorry for the jest but its sort of sad, actually very very sad
Folks get all wrapped up in the attention they get and because their bored, they love knowing they have something coming to their door in a few days
Its pretty much they same as sitting in a casino - you get sucked in to play / buy
(yes, I'm a casino gambler)
Brady

 

[Blacksheep]

Shook my head as i watched my father inlaw purchase "colorized" state quarters off one of those shows, he swears they will be worth huge amounts of money someday.

This same man bought Lesko`s government grant book for $200 and tons of other crap off late-night T.V. ads.

The man simply refuses to listen to reason and i continue to shake my head..

 

[Casull]

Saw a dandy today. Print ad in Guns & Ammo for a 1/25th ounce Aussie bullion coin (owl), being sold for $99 plus s&h. Wow, that's only $2,500 per ounce. Think I'll buy a few hundred.

 

[Bootyhunter1971]

Anybody besides me ever wonder why if those government grants are so easy to get and so great to start a business and so on, Why does that cat have to be doin a commercial while wearing a suit with question marks all over it? Why don't he get a grant and start a business making all that money like he's tryin' to get us to do?? I laughed every single time I saw that commercial.