The coin peddlers on TV...

[LogPotato]

I was watching the coin peddlers on TV this evening, thanking myself I am not a sucker. But it reminded me of another time I watched a show featuring Barry C., and he had Rick Tomaska on the show. I know there are a lot of followers that give a lot of credit to Rick and his books, but I am pondering how they feel with his presence on these cable shows? Seems a bit of a sell out IMO, if I dare to say.

[Kurtdog]

I've seen others who have done that over the years. The Presidential Dollars had some big pitchmen on those. You know, the "gold" ones?

[Walkerfan]

I enjoy watching Rick, b/c he makes sense and he is knowledgeable with interesting commentary.

 

I also like watching Barry and Sean (the true 'salesmen') sell their Morgan GSAs and toners for astronomical amounts. They are nice coins but not THAT nice.

[jpcienkus]

I enjoy watching Art and Coin TV. They are all entertaining in their own way. Rick has a lot of good information about the coins he's selling; however, they are priced very high. I've learned a lot about certain coin series by watching him, but know not to buy.

[Walkerfan]

I enjoy watching Art and Coin TV. They are all entertaining in their own way. Rick has a lot of good information about the coins he's selling; however, they are priced very high. I've learned a lot about certain coin series by watching him, but know not to buy.

 

exactly

[jom]

I enjoy watching Art and Coin TV. They are all entertaining in their own way. Rick has a lot of good information about the coins he's selling; however, they are priced very high. I've learned a lot about certain coin series by watching him, but know not to buy.

 

I'd just like to point out that just because they are very expensive (which is true) they probably aren't making as big a profit as you might think. Being on TV is exceedingly expensive so much of the cost gets eaten up by that.

 

Whatever the case, I remember watching some guy from North Carolina (on some cable network...it might have been part of the HSN) back in the mid-90s. He prices were way out there as well. But it was fun watching people talk about coins though...

 

jom

[GoldFinger1969]

Where/when are these infomercials airing ?

[jpcienkus]

I enjoy watching Art and Coin TV. They are all entertaining in their own way. Rick has a lot of good information about the coins he's selling; however, they are priced very high. I've learned a lot about certain coin series by watching him, but know not to buy.

 

I'd just like to point out that just because they are very expensive (which is true) they probably aren't making as big a profit as you might think. Being on TV is exceedingly expensive so much of the cost gets eaten up by that.

 

Whatever the case, I remember watching some guy from North Carolina (on some cable network...it might have been part of the HSN) back in the mid-90s. He prices were way out there as well. But it was fun watching people talk about coins though...

 

jom

 

Understand this completely. They have to pay for a lot of peoplle, air time and of course inventory. I still enjoy the show. On a few occasions, they have brought up an interesting coin, I learned about it, then bought it elsewhere.

[jpcienkus]

Where/when are these infomercials airing ?

 

Art and Coin TV on DirecTV: Tue/Thu 8:00-1:00 Channel 223. These are generally new shows. On Sat, they are on from like 2:00 to 1:00, but only 8:00 to 1:00 is live. The other time is reruns. Sunday times same as Saturday but all reruns.

 

 

 

[RWB]

They should have little 2-wheel carts to push around the studio set, and maybe a small monkey, or maybe they could sell various religions at the same time, and pick people's pockets in two ways.

[Kenneth F]

I enjoy watching Rick, b/c he makes sense and he is knowledgeable with interesting commentary.

 

I also like watching Barry and Sean (the true 'salesmen') sell their Morgan GSAs and toners for astronomical amounts. They are nice coins but not THAT nice.

 

Oh god, I cant stand Sean.. pinhead with the bowl cut.

 

Worse coin peddlers are the knuckleheads on the "Coin Vault". Their favorite saying is "Leading Numismatic Catalog"...

[Kurtdog]

All I know is one day my State Quarters collection is going to be worth a lot of money, they said it on TV.

[jpcienkus]

All I know is one day my State Quarters collection is going to be worth a lot of money, they said it on TV.

 

Didn't they say it's already worth a lot of money? That is, according to the Leading Numismatic Catalogue!

[Kenneth F]

All I know is one day my State Quarters collection is going to be worth a lot of money, they said it on TV.

 

Didn't they say it's already worth a lot of money? That is, according to the Leading Numismatic Catalogue!

 

Exactly.. according to the Leading Numismatic Catalog, they are worth eleventee thousand dollars.. Just ask the hillbillies on the Coin Vault.. they are a company with ethics, morals and values.. ha ha ha

[CoinZip]

Wouldn't you like to sell your coins for top dollar?

 

When I see the TV shows selling coins I know there is no way I can buy them and make a quick profit. Their business model is very different than most coin dealers that you have the chance to deal with.

 

Is it good or bad? There are some things they do that are very positive, think about how many people see their advertisements, every pair of eyes is a potential new coin collector.

 

Just my two cents......

[WoodenJefferson]

Well, I had no idea that Robert Chambers was being treated for cancer, and was ejected from Morton's Steakhouse in Nashville, for donning a hat.

[GoldFinger1969]

Where/when are these infomercials airing ?

Art and Coin TV on DirecTV: Tue/Thu 8:00-1:00 Channel 223. These are generally new shows. On Sat, they are on from like 2:00 to 1:00, but only 8:00 to 1:00 is live. The other time is reruns. Sunday times same as Saturday but all reruns.

 

Don't get DTV, have cable from Cablevision. Will check the cable channels late-night to see if it runs.

 

I've seen stuff like this on QVC and HSN at times.

[johnny9434]

All I know is one day my State Quarters collection is going to be worth a lot of money, they said it on TV.

 

Didn't they say it's already worth a lot of money? That is, according to the Leading Numismatic Catalogue!

 

Exactly.. according to the Leading Numismatic Catalog, they are worth eleventee thousand dollars.. Just ask the hillbillies on the Coin Vault.. they are a company with ethics, morals and values.. ha ha ha

Iword on the street isthatthe leading Numismatic Catalog says those who might have brought the coins will be rich soon. or at least thats what was on the rest room wall

[Kenneth F]

Wouldn't you like to sell your coins for top dollar?

 

When I see the TV shows selling coins I know there is no way I can buy them and make a quick profit. Their business model is very different than most coin dealers that you have the chance to deal with.

 

Is it good or bad? There are some things they do that are very positive, think about how many people see their advertisements, every pair of eyes is a potential new coin collector.

 

Just my two cents......

 

Sure, I would sell my coins for top dollar... not with a 300% mark-up and say that the "Leading Numismatic Catalog" states my coin is worth 4 digits when that's not true.

 

You're right, I have never dealt with a coin dealer or flea market vendor, for that matter, that prices their stuff like the Coin Vault. Their business model is indeed 'unique'. I guess the old saying 'A fool and his money are soon parted' is strong with the Coin Vault.

 

Is it good or bad?? Both. It's good for us experienced collectors because it provides us hours of pure entertainment. It's bad for those who lack experience and feel they are getting a solid deal. Can you accurately say that their show can create new coin collectors? Maybe, if they have other sources available to them. If they live in Nowhere, Iowa.. they might not have access to real businesses who sell their items for Earth money and not Moon money.

 

 

 

[Kurtdog]

Is it good or bad? There are some things they do that are very positive, think about how many people see their advertisements, every pair of eyes is a potential new coin collector.

I suppose. But getting clipped right out of the chute is a heck of a way to be introduced to a hobby.

[Walkerfan]

I enjoy watching Rick, b/c he makes sense and he is knowledgeable with interesting commentary.

 

I also like watching Barry and Sean (the true 'salesmen') sell their Morgan GSAs and toners for astronomical amounts. They are nice coins but not THAT nice.

 

Oh god, I cant stand Sean.. pinhead with the bowl cut.

 

Worse coin peddlers are the knuckleheads on the "Coin Vault". Their favorite saying is "Leading Numismatic Catalog"...

 

Yeah---Sean is a slick little weasel for sure. He annoys me, when he repeats the same thing over and OVER all the time, b/c he has nothing else to add.

 

The Coin Vault guys are the worst. I like how they enunciate 'coin' with their Southern drawls.

[jpcienkus]

I enjoy watching Rick, b/c he makes sense and he is knowledgeable with interesting commentary.

 

I also like watching Barry and Sean (the true 'salesmen') sell their Morgan GSAs and toners for astronomical amounts. They are nice coins but not THAT nice.

 

Oh god, I cant stand Sean.. pinhead with the bowl cut.

 

Worse coin peddlers are the knuckleheads on the "Coin Vault". Their favorite saying is "Leading Numismatic Catalog"...

 

Yeah---Sean is a slick little weasel for sure. He annoys me, when he repeats the same thing over and OVER all the time, b/c he has nothing else to add.

 

The Coin Vault guys are the worst. I like how they enunciate 'coin' with their Southern drawls.

 

The Coin Vault guys are constantly talking over each other and it seems that they are yelling most of the time.

[World Colonial]

Is it good or bad? There are some things they do that are very positive, think about how many people see their advertisements, every pair of eyes is a potential new coin collector.

I suppose. But getting clipped right out of the chute is a heck of a way to be introduced to a hobby.

 

My thinking exactly.

 

In my primary series (South Africa), a disproportionate number of novices have been burned badly or are still "buried" in grossly over hyped and over priced coins they bought several years ago. This even though they didn't buy them from a source like this one.

 

Those who I know in that country, they seem to be disproportionately interested in making a windfall as soon as they possibly can (as in yesterday)and apparently have little interest in completing their collections. I make this comment because I have yet to see hardly anyone (maybe one) admit that the lower prices since 2011 are a positive. Never mind that most of them disproportionately don't have substantial "investments" anyway since they can't afford it, they still apparently want these coins to sell for "moon money".

 

What I am describing, I believe it provides much of the explanation for the weak pricing environment today. The US market is big enough where it can ignore this outcome, but not most others.

[William J. Rodgers]

I went on disability in 2004. In 2005 while watching late night tv, I came across The Coin Vault. I collected coins as a kid, but, it had been a long time since I'd given it another thought. I watched the show on and off and it renewed my interest in the hobby. Yes, I admit that I was financially raped on several purchases before finding my local coin club and learned how to get my coins from respectable dealers and coin shows. Since I only bought silver from them so long ago, my purchases have actually gained in value. That said , I don't buy from them bought still watch and when I see a coin I like, I buy it from a legitimate source. So, They can bring people back into the hobby as long as those individuals escape " The Vault " before being irreparably harmed.

[mrkbrown8709]

They should have little 2-wheel carts to push around the studio set, and maybe a small monkey, or maybe they could sell various religions at the same time, and pick people's pockets in two ways.

[19Lyds]

I think I'd just as soon watch P.T.Barnum sell Ice Cubes to Eskimos.

[GoldFinger1969]

I went on disability in 2004. In 2005 while watching late night tv, I came across The Coin Vault. I collected coins as a kid, but, it had been a long time since I'd given it another thought. I watched the show on and off and it renewed my interest in the hobby. Yes, I admit that I was financially raped on several purchases before finding my local coin club and learned how to get my coins from respectable dealers and coin shows. Since I only bought silver from them so long ago, my purchases have actually gained in value. That said , I don't buy from them bought still watch and when I see a coin I like, I buy it from a legitimate source. So, They can bring people back into the hobby as long as those individuals escape " The Vault " before being irreparably harmed.

 

As I figured, since they have huge overhead (TV).

 

Can you give us an example of the markup...what a typical coin costs retail/wholesale and what they offer it for ? I would guess they might be 30-100% over what a local dealer charges ?

[Walkerfan]

I went on disability in 2004. In 2005 while watching late night tv, I came across The Coin Vault. I collected coins as a kid, but, it had been a long time since I'd given it another thought. I watched the show on and off and it renewed my interest in the hobby. Yes, I admit that I was financially raped on several purchases before finding my local coin club and learned how to get my coins from respectable dealers and coin shows. Since I only bought silver from them so long ago, my purchases have actually gained in value. That said , I don't buy from them bought still watch and when I see a coin I like, I buy it from a legitimate source. So, They can bring people back into the hobby as long as those individuals escape " The Vault " before being irreparably harmed.

 

As I figured, since they have huge overhead (TV).

 

Can you give us an example of the markup...what a typical coin costs retail/wholesale and what they offer it for ? I would guess they might be 30-100% over what a local dealer charges ?

 

Anywhere from 50-100% would be correct

[WoodenJefferson]

 

Can you give us an example of the markup...what a typical coin costs retail/wholesale and what they offer it for ? I would guess they might be 30-100% over what a local dealer charges ?

 

We could, but as of yet, we're still looking for one of those 'Leading Numismatic Catalogs' they keep talking about.

[Kurtdog]

Can you give us an example of the markup...what a typical coin costs retail/wholesale and what they offer it for?

It would depend on their margin, not markup. The way they probably do it is they start with deciding what they can realistically retail the coins for, then they get out their income statement, look at their margin on their cost of goods sold, and apply (1 - margin) x (retail price) = (wholesale cost). For example, their retail price is $20, and their margin is 40%. They’re going to pay, wholesale, 60% x $20 = $12 for the coins.

 

I do think they work backwards like that, from what they think they can move the coins for. Don’t forget, if they’re graded coins, they can turn them over at a higher retail price, helping to absorb the grading costs. They work out bulk deals with the TPGs, to hit their numbers. When they do, they’re in business.