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user_77425's Blog

15 Mar 2020

Infomercials, Deal or Scam?

Collecting Tips | user_77425

All the time I see infomercials on T.V. but are they actually a good deal? I have done the math on lots of them and seen a 1 1/2 to 2 times over priced coins. One infomercial was selling all the Silver Eagle dates for $60 a peice when you could get all of the coins for about $20- $25 a peice (except the 1996). Another was a Double Eagle for $1000 over Red Book price. One thing they did was show how many coins were in a grade higher for the Double Eagle, but if you looked closely it was only PCGS graded coins. Other things I have heard said is: the coins were thrown in bags and sent by train and the Double Eagle is still in MS-64 and it is a 1900 which is very popular. Long story short infomercials are not a good price and I would recommend going to your trusted local coin shop and getting a coin for much cheaper. Also if you are going to buy from an infomercial read the fine print, there is a lot of information in it, like if you can get a refund or not.

Comments

Numinerd9

Level 5

I think these programs may serve some very minor (very, very minor) good by introducing several newcomers to the hobby, though the prices they charge are in line with full retail. Personally, I can't live with myself if I have to pay retail prices for much of anything, but they do serve the hobby 'well' in just that way alone. But then, I'll get calls from people who buy these items at inflated prices, and get very upset with me when I tell them that they likely paid too much; like somehow, it was my fault they're not an educated consumer - these are the people I tell to become ANA members; the phone call usually ends not too long after that, unless they genuinely seem interested in learning more about the HOBBY. The majority of the people getting fleeced by these shows don't bother to put in the slightest due diligence - research, people. Research and don't be so dang greedy - this is a hobby, not just some dumb investment vehicle! Personally, I am not allowed to watch these shows - I start throwing anything within arms' reach at the TV; yeah, not good for me to watch that kind of thing - ever. (I don't know how these people live with themselves, but if you have no conscious or soul anyway, I guess it's all right to take people for that kind of a financial ride. Sigh.) -Sam Gelberd, ANA Numismatic Educator

Mike

Level 7

I thought i wrote this.I have the two apps they help with the prices on t.v. Is lower than any price book I will jump on them. I have the PCGS .verification app and the NGC verification app. I copy down the cert numbers put it in the app. It tells me the price. If I see a number of any coin I have not seen can check it.. I use the app if I'm watching t.v.. I'm not buying anything from t.v. In check them on Ebay and get a good laugh. Sometimes there is no price. So I just skip it. I repeat i do not buy on t.v. So to sum up. It's a scam. One of the biggest I have ever seen. Most buy all the proof sets from wholesellers.Break them down create books the good ones are sent out. One scam after another.

JudeA

Level 4

Usually a scam. I see them about gold/silver bullion coins saying things like, "Now is the right time to collect silver! The prices have never been this high! Order now and get your 1 oz. Silver Eagle for ONLY $40!" However, you can probably get a silver eagle for around $20 - $25 at a coin shop or online.

Long Beard

Level 5

Okay, I guess I'll be the only one to defend them. Well, sort of. Selling a coin or group of coins, whether as an individual or dealer, has many variables attached which must be factored into the asking price. First there is the obvious. So let's start there at $25.00, and sticking to the infomercial end, Add in the cost of air-time with the network, the employees (other than camera types as they are usually included with network fees), storage/property fee, shipping service fees, ect. So it's easy to see how quickly the cost he/she has involved must now turn a profit. Which brings us to your question, Is a 20-25 dollar coin worth $100? To those who collect coins as a hobby on a regular basis, almost certainly no. For that individual, the older man/woman who simply wants one to show the grand kids, family or friends, yes. However, the one thing overlooked is the value above a coins price when talking about these late night programs. As Longstrider mentioned, Rick Tomaska has assembled some extremely high end registry sets for clients over many years. His shared knowledge is immeasurable as to a dollar amount in that respect alone. Enjoyed the post!

The only value in Infomercials are their "entertainment."

"SUN"

Level 6

Usually, not a good bargain.

Longstrider

Level 6

SCAM!! No doubt about them...I do listen to Tomaska for info. I DVR him and listen as I roll hunt. Nice background..

Golfer

Level 5

I was watching some cable channel program that was selling coins. The prices were high. I dont think some people know about coin shows, dealers, and other more reasonable outlets to buy coins. They get caught up in the excitement only to find out later their purchase will only sell for half what they paid on a TV show.

Mokie

Level 6

I would not trust a single one of them. I have watched those TV coin hucksters in the past for amusement value but feel bad that some folks are actually buying their overhyped, overpriced, collectibles.

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