Coin Valt, Shop At Home Network

[alcmaeon-migration]

So, my wife was flipping thru the channels tonight and came across the Coin Vault on the Shop at Home Network and they had NGC slabbed 2003 Silver Eagles in MS 69 for only $29.99!!! I got a little excited, as they explaned it took $28 to submit thses coins for NGC grading, which took 12 days and shipping time and cost. Boy, what a deal! So I bought 100 of them!

[alcmaeon-migration]

Just Kidding!!!

[BushMan]

Please, please tell me we don't have to endure Shop At Home threads on this "side of the street"!! This is far better suited to those "across the street at PCGS". They are not interested in real content.

[BillJones]

Don't believe these guys when they tell you someone had to pay $28 to these coins slabbed. The coins are graded under bulk grading deals where NGC slabs the coins for a fixed price like $8 or $10 pre coin. There can also be agreements that the coins will be slabbed only if they qualify for certain grade, like MS-68 or 69.

 

These MS-69 coins are pieces that "flunked" the MS-70 test. Shop at Home loves to sell MS-70 coins had much higher prices. Actually the overal quality of silver eagles is pretty high, so grades like MS-69 and 70 are not THAT unusual.

[Oldtrader3]

They were selling IGC-MS70 $50 Gold for only $795.00 last week. What a buy!

[nwcs]

You sure what they are offering are truly uncirculated? Also, what they have may be all MS-60 and MS-61s, too. About $17-20 coins each max.

[jtryka]

Important disclosures: The "Coin Vault" is meant for entertainment purposes only.

[SilverEagleCoins]

As newbie I too stumbled across the Shop at Home Network one night and out of curiosity I watched it for an hour. My few weeks here have taught me a bit about value of coins so I was not suckered into any "deals".

 

What does disturb me are the number of coins they are offering. Between them and HSN and QVC they are offering a lot of coins. Without a hands-on inspection the coins still look to be in decent shape. They have thousands of 20 rolls in a particular year of what they claim to be uncirculated Morgans, Liberty Halfs, Franklins. Every night they sell out of the thousands of rolls they are offering and the very next night they have thousands of rolls of another year.

 

I know that in the grand scheme of millions being minted that it means very little to the upper end collector. However the the average person like me it seems crazy to pay $50 for a single coin on eBay when I can pay $50-$100 more for 20 in similar condition.

 

Any thoughts from you veteran collectors?

[sanmary]

Occasionally I'll flip it on for laughs. Usually after about 5 minutes I can't take it anymore and flip back to The History Channel. ALL of their prices are over-inflated. Keep in mind they have to pay for television time and that cost is passed on to the buyer.

[lazeroo]

hmmm, I woke up at 10:30 and low and behold .

QVC was selling state quarters.

 

man you got all the 1999,2000, 2001,2002 quarters get this!! they were all platnum or gold plated.WOW!!!

 

!!!!

 

they were selling these sets for 89.99 and man were they selling alot of them.

 

I'm not sure but who would buy this many sets of coins none of us would buy ?

I'm not sure but most collectors won't buy these altered coins.

 

rob.

[gmarguli]

Don't believe these guys when they tell you someone had to pay $28 to these coins slabbed. The coins are graded under bulk grading deals where NGC slabs the coins for a fixed price like $8 or $10 pre coin. There can also be agreements that the coins will be slabbed only if they qualify for certain grade, like MS-68 or 69.

 

Actually, it is $6.50 per coin for bulk SAEs. They might even get them done at $6 if they do enough of them. I forget what I was told by NGC, but I know it is $6.50 min for most coins and I'm not sure if Scott told me $6 was the absolute min or $6.50 was. Also, I assume there is no fee for ones that miss the grade since they do such a huge quantity.

[crito]

They probably pay $5,000 an hour for the air time on TV, though. I don't think the price is that unreasonable, actually. My local coin shop sells them raw for $10 each. And it would cost me another $10 to have it graded. So how much is your time worth? If you want to buy coins over the phone while sitting in a lazy boy recliner, you pay for the convenience, I guess.

 

[RobertB]

Occasionally I'll flip it on for laughs. Usually after about 5 minutes I can't take it anymore and flip back to The History Channel. ALL of their prices are over-inflated. Keep in mind they have to pay for television time and that cost is passed on to the buyer.

 

We must have been seperated at birth. I do the same thing. Anyways, as sad as this sounds I'm actually drawn to the stupid scheme shows just for the simple fact that coins are on t.v..

Just watch of course. Not that stupid.

[SilverEagleCoins]

You guys would have had a ball last night...

 

At 2AM EDT the Coin Vault. At the same time HSN was selling coins. Also at 2AM was some smaller shopping channel, CSN selling coins. To make it even funnier, the guy selling coins on HSN was the same guy pitching coins on CSN!!! Somehow this guy was able to defy the laws od physics and be at 2 places at the same time. Even funnier, all 3 channels were selling similar stuff (sets of 10 Morgans XF-AU various dates) but at different prices.