Morgan Dollar TV ad and spot gold/silver

[RI AL]

So, I've got the TV on while I'm doing some work in our basement for my wife's library, and on comes this ad from the "National Collectors Mint" offering Morgan Silver dollars at $19.95 each plus shipping and handling)..strict limit of 5 per order....oh deary me... And I quote, "these coins are all "brilliant uncirculated to Fine condition" (which means that they are all well worn rejects) but I think the wording is interesting. I would call that "deceptive" advertising, but I'm not sure. I wonder how many sweet little grannies are going to get ripped off by putting a few of these away for the grand kids. Silver melt content is about $12.50 so I guess it's not a TERRIBLE rip off...but it's the "Brilliant Uncirculated to Fine Condition" thing that bugs me more. That's why I never used my real estate license...I just can't lie. Gee...I wonder what percentage of the silver is worn away on "Fine" examples.

 

As I write this, gold is around $970 (gee...I wonder what my filling are worth!) and silver is approaching $20 an ounce. I remember the days when my wife and I would go the First Podunk Bank of Tallahassee, Florida (my college town) and buy 5 rolls of half dollars and search for silver. This was our weekend entertainment because we couldn't afford much else. This was in the early 70's and we did quite well finding silver...by poor college kid standards. I still have rolls of those suckers somewhere at the bank and was surprised to read that even the 40% pieces each contain approximately $2.40 cents in silver, now at roughly $19.50 an ounce. Wow...maybe I'll go bundle them all up and see if I can fill my gas tank.The searching for silver continued when we got back from overseas until about 10 years ago (my son and I used to do it often during the summers up here in the RI sticks) and still the occasional 40% piece would make an appearance. I kind of suspect that there aren't too many around any more.

 

RI AL...tired of painting 2x4's for the library. BLACK no less...

[MunkyMan95]

I saw that ad too. The coin they show in the packaging looks to be a decent MS, but all of the other coins are polished Fs and VFs.

 

I agree it's not a terrible deal, but they clean their coins, so I would not want to deal with them.

[jesbroken]

Current 90% silver content bullion value is roughly $14.42 times face value.

[carson city]

You don't always get what you pay for-------Sam Walton & Rolling Stones

[jtryka]

Although it's not a great deal, you must adjust your silver melt calculator. At $19.75 per ounce, silver dollars melt at $15.25 (a silver dollar has more silver than 4 silver quarters, or 10 silver dimes or 2 silver halves), and 40% silver halves are pushing $3.

[BECOKA]

I am just kicking myself for selling a green monster when silver went over $7 2 years ago.

 

I have given up on the brilliant Uncirculated term. When I see it I usually ignore it and just look at what I am getting.

[jackson64]

the way silver is skyrocketing % wise, those figures may need to be adjusted hourly...

[richbeat]

The commercial is cleverly worded to make unsuspecting people think that they're getting something much rarer than it is. They talk about how many hundreds of millions of Morgan dollars that were melted, and that they are releasing the last four thousand and however many that they have. No out-and-out lies, but verry deceptively and cleverly worded.

[BULLY]

So, I've got the TV on while I'm doing some work in our basement for my wife's library, and on comes this ad from the "National Collectors Mint" offering Morgan Silver dollars at $19.95 each plus shipping and handling)..strict limit of 5 per order....oh deary me... And I quote, "these coins are all "brilliant uncirculated to Fine condition" (which means that they are all well worn rejects) but I think the wording is interesting. I would call that "deceptive" advertising, but I'm not sure. I wonder how many sweet little grannies are going to get ripped off by putting a few of these away for the grand kids. Silver melt content is about $12.50 so I guess it's not a TERRIBLE rip off...but it's the "Brilliant Uncirculated to Fine Condition" thing that bugs me more. That's why I never used my real estate license...I just can't lie. Gee...I wonder what percentage of the silver is worn away on "Fine" examples.

 

As I write this, gold is around $970 (gee...I wonder what my filling are worth!) and silver is approaching $20 an ounce. I remember the days when my wife and I would go the First Podunk Bank of Tallahassee, Florida (my college town) and buy 5 rolls of half dollars and search for silver. This was our weekend entertainment because we couldn't afford much else. This was in the early 70's and we did quite well finding silver...by poor college kid standards. I still have rolls of those suckers somewhere at the bank and was surprised to read that even the 40% pieces each contain approximately $2.40 cents in silver, now at roughly $19.50 an ounce. Wow...maybe I'll go bundle them all up and see if I can fill my gas tank.The searching for silver continued when we got back from overseas until about 10 years ago (my son and I used to do it often during the summers up here in the RI sticks) and still the occasional 40% piece would make an appearance. I kind of suspect that there aren't too many around any more.

 

RI AL...tired of painting 2x4's for the library. BLACK no less...

 

 

Even with Gold down ever so slightly since you posted this (but rebounding in a BIG WAY), I too am galled by these VERY SPECIFIC COMMERICIALS.

 

In fact, I am surprised you are the 1st person to mention them, silver being what it is too!

 

The ads are VERY deceptively worded regarding coin condition. When they make it sound like their RANGE of grades is INCREASING in quality, from BU to FINE...AS IF!

 

As someone else said, there are plenty of people (non-collectors) or even naive NEW collectors who just WANT a Morgan Silver Dollar and will have NO idea that a BU coin is FAR superior to a "FINE" coin because the ad makes it sound like FINE coins are, in fact, better.

 

Why? In the range, used the low grade of FINE is listed....LAST!

 

FINE, by definition, is listed in the Red Book as about a 12 (out of 70 as WE know, but which they happen to omit from that commercial). Perhaps they are too focused on that woman's weight loss

 

Meanwhile, also by Red Book definition, BU for Brilliant Uncirculated is a MINIMUM of MS60 (I am uncertain exactly where it falls from there, I am not sure of it becomes objective based on TPG or ANA specifics, but at least it's an MS60 or above.

 

I would love to see that commercial OFF THE AIR.

[cpm9ball]

I would love to see that commercial OFF THE AIR.

 

Unfortunately, it will never happen. The TV networks are greedier than eBay.

 

Chris

[RI AL]

I also would like to see the silver dollar ad bounced...but on WHAT basis. They aren't really lying...just "twisting" the facts a bit. Then there's the ad for the rare "copy" of a rare quarter eagle...forgot the details...but what a RIP for $29.95. I guess you can't legislate morals...but I sure don't know how these people can sleep at night!

 

I just don't like advertising that is meant to deceive. I even took it upon myself to write the attorney general of the state of RI (MAN...THAT'S a real powerful position) to have all TV ads with "fine print" removed from the airwaves. Law says it has to be on the ad, but if you can't read it, what GOOD is it?! Mortgage companies, car dealers and such and notorious for this sort of tactic. If they HAVE to by law claim it in an ad...it should be CLEARLY visible!!

 

Then there's the zillions of Billy Mayes commercials with, "but wait...if you buy now, we'll send you a second super duper nuclear powered potato peeler and dog poop cleaner.free,.." just pay separate shipping and handling". . Funny...I have bought a thing or 2...pay the separate shipping for the "free one" and both of them arrive packed together. The attorney general has been notified of this too...but...needless to say...no results..I think he's too busy reading the fine print in the TV ads with a microscope.

 

RI AL

[RI AL]

Good morning, Becoka, and everyone.

 

Pardon my ignorance, but may I ask what a "green monster" is?

 

I well remember the Hunt Brothers trying to corner the silver market. Didn't it approach like $80 an ounce? Well, we all have our regrets. We held on too...figuring it would go higher...and...as they say, "the rest is history". We kind of got involved in the 1 ounce silver bar collecting when we graduated from college and still have every one. (There's another great money making hobby that went belly up...like baseball cards) but now at nearly $20 an ounce, the bars are starting to look a bit better. Not sure where they are...but I bet the bank ladies will be thrilled when I come in to do a search. (I do bring them chocolates from time to time and that seems to hold their hostility down to a low roar.)

 

Have a terrific day, everyone.

 

RI AL

 

 

[Oldtrader3]

The price of silver briefly went over $50 an oz. during the Hunt brothers speculation in 1980. It stayed at that price approximately one day.

[jgrinz]

Pardon my ignorance, but may I ask what a "green monster" is?

 

Is the shipping container the US MINT ships there bullion products to distributors in - YEs its green FULL of Green capped rolls

 

[jgrinz]

Last year I divested myself of a ROLL of Silver Eagles FROM EVERY YEAR ... I did well but I could do better now. Timed that wrong didn't I

 

 

[CHABSENTIA]

I was pretty sure it was $50.00 but didn't want to comment as I was not 100% sure.If I remember correctly the Government just changed some rules and the price collapsed.