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Has anyone dealt with Jules Karp Coins & Bullion Inc?

Started by stinkycheese1,

33 posts in this topic

stinkycheese1

stinkycheese1

Posted
Posted

I picked up the latest coin magazine (coins) and saw an ad for gold coins that intrigued me. Very low prices, classic head 2 1/2 in fine condition for only $350! Wow. What a deal, and a great way to pick up some old gold. Has anyone dealt with this company? Here's what their ad says:

 

Please Call for our very competitive prices on all gold, silver, and platinum items! Call toll free 1 800 838 6226

Write for our latest catalog.

Jules karp coins and bullion inc

ANA Life member #661, "Our 48th year"

P.O. Box 789, Wall St.Station, new york, new york 10268-0789

 

HOW TO ORDER:

1. List coins by denomination, condition and price.

2. Total prices at all items.

3. N.Y Reidents only add sales tax.

4. Orders unsder $400 add $3.50 postage and handling

5. 15 day return policy. Lifetime guarntee on authenticity.

6. Make checks or money orders payable to Jules J. Karp, Inc.

7. Grading based on 48 years experience

8. Prices subject to change without notice.

9. Coins with a bullion value under 15% over melt-exchanges only!

 

 

-------------------------------------------------------

So just write them for their latest catalog? I'm a bit confused on number 9.

 

Has anyone dealt with them? Had bad/good expreiences?

 

I'm guessing to order you just mail them a money order or check, and mail them for the latest catalog. Is this the route to go or should I order a slabbed one off ebay?

 

Thanks

 

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BillJones

BillJones

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Most, but not all, of the dealers who advertise in coin magazines are looking to sell to less than perfectly informed collectors. That’s PC for, “They are looking for fish.” Their prices are always on the high side, and they get there in one of two ways. The method of choice is to sell over graded, cleaned, whizzed or other problem coins are “bargain prices.” A more legitimate alternative is to charge high prices for coins that are properly described.

 

I’ve seen a few of these guys at the shows on rare occasions. Almost all of the coins they offer for sale are raw, and almost all of them are at best over graded and at worse cleaned and damaged. Usually these guys take a table so that they can get the dealers’ badges and run around to buy. Most of the time, they don’t show up at the shows at all.

 

Here’s a sure fire way to tell if a print dealer is legitimate or not. If he sells any coins that have any rarity at all, and NONE of his offerings have been graded by NGC or PCGS, chances are you are going to get the shaft if you order from him. These days there are very few good coins that are sold raw. Most items have been graded, and if they have not been graded there is a very good reason. The reason can be summed up succinctly: body bag or would get a body bag if it were to be submitted for grading.

 

 

9. Coins with a bullion value under 15% over melt-exchanges only!

 

I'm a bit confused on number 9.

 

He actually has a legitimate point here. This is to protect him from speculators who would buy coins at near melt, wait a couple of weeks to see if the gold price went up enough give them a profit and then return the coins if it didn’t. Such transactions would be a waste of time and money for him, and I don’t blame Mr. Karp for protecting himself from that kind of practice.

 

This would apply mainly to common date, low grade (VF or so) $20 gold pieces that sell for only a little over their melt value.

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Just Bob

Just Bob

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As good as it looks, and as much as you'd like to get a "deal," don't chance it, Kevin. (tsk) Odds are, you'll regret it.

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gpnyc

gpnyc

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Brings back memories... I used to buy from Jules Karp back in the late 1980's when he had a storefront on Broadway and 36th in NYC. They closed up shop in the 1990s and went mail order only. Haven't done business with them since.

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Oldtrader3

Oldtrader3

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I have bought from Karp some time ago. I dd not like what I received. IMHO, I would not do busness with bottom feeders in Coin World etc.

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michael

michael

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just make sure when dealing with msgr. berk you know really well and are expert in the specific coins you are considering purchasing from him

 

 

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CHABSENTIA

CHABSENTIA

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This would also be my take. I have had Coin Dealers tell me to stay away from the people who advertise in magazines such as Coin World etc.

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123cents

123cents

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This would also be my take. I have had Coin Dealers tell me to stay away from the people who advertise in magazines such as Coin World etc.

 

Apmex, Harry Laibstain, Osburn, JJ Teaparty, and Alpine Numismatics all advertise in Coin World. I have bought from each of them and consider them good dealers.

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stinkycheese1

stinkycheese1

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Thanks guys. Unfortunately, I cannot afford AU classic head gold. It's just too expensive. Is it possible to find classic head 2.5 gold in Fine to very fine condition at other places, slabbed? If so, where should I look? I'll check out apemx.

PS: I searched ebay and found an AU details NCS classic head 2 1/2 gold polished/mounted on ebay for around $550. But it's a problem coin. Probably not my best bet to buy a problem coin. Always buy the best you can afford, right?

 

 

Thanks again guys. I won't order from Jules Karp

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EZ_E

EZ_E

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Probably not my best bet to buy a problem coin. Always buy the best you can afford, right?

 

You're a wise man, Kevin. (thumbs u

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DaveG

DaveG

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You may have a difficult time finding a slabbed Classic Head quarter eagle in Fine to VF.

 

If you take a look at the NGC population report, you'll see that they haven't slabbed very many in those grades - the slabbed population really starts at XF-40. (I would guess that PCGS and ANACS would be roughly the same distribution as NGC.)

 

It may also be somewhat difficult to find one that's "original" in F to VF.

 

I'd say your best bet (if you don't want to go the Heritage route) is to try some of the larger dealers. If you can't find one locally, then you might try dealers like Harlan Berk, JJ Teaparty or David Lawrence.

 

Also, if you want it in a slab, you may have to buy a raw one and have it slabbed yourself.

 

You might consider saving up for an XF or better coin, too. Given the means of the collectors who would want to buy a Classic Head, a nicer one might be easier to sell, should you want to, at some point in the future.

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BillJones

BillJones

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Thanks guys. Unfortunately, I cannot afford AU classic head gold. It's just too expensive. Is it possible to find classic head 2.5 gold in Fine to very fine condition at other places, slabbed? If so, where should I look? I'll check out apemx.

PS: I searched ebay and found an AU details NCS classic head 2 1/2 gold polished/mounted on ebay for around $550. But it's a problem coin. Probably not my best bet to buy a problem coin. Always buy the best you can afford, right?

 

 

Thanks again guys. I won't order from Jules Karp

 

If I were you I'd wait until I had more money. It's hard to find those coins in F-VF which is a very low grade for them. The coins you buy will be unattractive and not that easy to sell.

 

I know it's hard to wait sometimes, but it can be better in the long run.

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stinkycheese1

stinkycheese1

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What do you guys think of this coin? It's well worn, problem free, but it IS raw. And ive been told NEVER buy raw gold coins off ebay. Although I remember reading, as a general rule, any coin XF or lower in grade in gold is most likely the coin is geniune, although not always.

 

http://cgi.ebay.com/1836-2-50-Gold-Classic-Head-Problem-Free-VG-Fine_W0QQitemZ300228621164QQihZ020QQcategoryZ39469QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

 

 

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DaveG

DaveG

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When I see a gold coin that well circulated, I think it should be very dirty - this coin isn't, so my first thought is that it has been cleaned.

 

Also, this coin is too well worn for most gold collectors - you'd have a very limited audience for any resale.

 

On the other hand, it's so well worn that it is most likely genuine.

 

If you could get a coin like this for a small premium to melt, say 10%, it might be worth buying. (Obviously, this one is more than that.)

 

I still recommend you save up for a nicer (and slabbed) example.

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Mozin

Mozin

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What do you guys think of this coin? It's well worn, problem free, but it IS raw. And ive been told NEVER buy raw gold coins off ebay. Although I remember reading, as a general rule, any coin XF or lower in grade in gold is most likely the coin is geniune, although not always.

 

http://cgi.ebay.com/1836-2-50-Gold-Classic-Head-Problem-Free-VG-Fine_W0QQitemZ300228621164QQihZ020QQcategoryZ39469QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

 

 

Forget about it.

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Schatzy

Schatzy

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Well Jules did land a day on the Peoples Court. I don't know how much each of them made for their appearance but I would guess it didn't help his business.

 

Here is the episode

 

MJ

 

:censored: After seeing him let the door slam on the wheel chair lady behind him.....well I

will make sure I never do business with him.

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