Why do people refuse to think logically about coins? 1 1

[Hoghead515]

On 1/30/2022 at 12:21 PM, tj96 said:

There's a song that goes something like that...

Money, I don't have any;

I'm down to my last penny....

I could write a good one. Lol. Hoping to get my unemployment lined out or the weather to straighten up. Down to spam and eggs. Tearing paper plates in half to conserve them. I could be one the best country music writers in this part of good ole Kintuck. 

[tj96]

On 1/30/2022 at 12:21 PM, tj96 said:

There's a song that goes something like that...

Money, I don't have any;

I'm down to my last penny....

Sorry @Woods020, don't mean to Hijack your thread.  Just one song for @Hoghead515.

 

 

[Hoghead515]

On 1/30/2022 at 12:49 PM, tj96 said:

Sorry @Woods020, don't mean to Hijack your thread.  Just one song for @Hoghead515.

 

 

Love it my friend. Thought you was gonna play Big Girls Dont Cry when I first saw it. I like old Frankie Valli. 

[RWB]

"Why do people refuse to think logically about coins?"

Coins have the same question about people.

[Alex in PA.]

On 1/23/2022 at 2:45 PM, Hoghead515 said:

Esty

AliBaba etc.  all purveoys of counterfeit junk and not just coins.

[Mohawk]

On 1/30/2022 at 5:05 PM, Alex in PA. said:

AliBaba etc.  all purveoys of counterfeit junk and not just coins.

Don't forget Mercari.  Lots of fake coins and other garbage coins popping up there now as well.

[Alex in PA.]

On 1/30/2022 at 6:22 PM, Mohawk said:

coins popping up there now as well.

The counterfeit business is thriving.  

[GoldFinger1969]

I saw the same dichotomy and irrational, emotional decision-making in the financial world.

People would think nothing of moving tens or thousands of dollars into and out of various investments, often super-risky, without doing ANY due dilligence.  But when it came to buying a $400 TV or microwave, they'd research it for weeks. 

[Mohawk]

On 1/31/2022 at 8:32 AM, Alex in PA. said:

The counterfeit business is thriving.  

Sadly, that's very true.  And the more outlets to sell the fakes that pop up and the more stupid, useless, lying coin videos that pop up on YouTube, the better the fake coin business will do.

[tj96]

On 1/31/2022 at 8:32 AM, Alex in PA. said:

The counterfeit business is thriving.  

Hello China!!

[Mohawk]

On 1/31/2022 at 1:42 PM, tj96 said:

Hello China!!

It's not just China.....Israel and Russia have thriving counterfeit coin industries as well.  The fake Ottoman gold 100 Kurush I bought 11 years ago likely came out of Israel.  And that fake actually wasn't laughable......it was frighteningly good.  I was working at the coin shop then, and I ended up selling it to my boss for gold scrap.  He initially thought about keeping it for his counterfeit collection, but ultimately decided it had to be destroyed....it was that deceptive.  Many Chinese counterfeits are laughable but Israeli counterfeits are often frighteningly good.  Many more of them likely evade detection than Chinese counterfeits.

Edited January 31, 2022 by Mohawk

[tj96]

On 1/31/2022 at 1:55 PM, Mohawk said:

It's not just China.....Israel and Russia have thriving counterfeit coin industries as well.  The fake Ottoman gold 100 Kurush I bought 11 years ago likely came out of Israel.  And that fake actually wasn't laughable......it was frighteningly good.  I was working at the coin shop then, and I ended up selling it to my boss for gold scrap.  He initially thought about keeping it for his counterfeit collection, but ultimately decided it had to be destroyed....it was that deceptive.  Many Chinese counterfeits are laughable but Israeli counterfeits are often frighteningly good.  Many more of them likely evade detection than Chinese counterfeits.

Good points! 👍🏻

[Henri Charriere]

On 1/22/2022 at 1:28 PM, Woods020 said:

Unfortunately this happens all too often. Many companies out there prey on older people making them think they are making a sound investment when in reality it’s a total overpriced rip off. Littleton is one of the worst in my opinion, and The Home Shopping Network seems to have a bunch of characters come through selling overpriced coins. 

Just spotted this now. Littleton? LITTLETON! Wow! They're still in business? Incredible! They were way out of line with their pricing as far back as the 1960's. They shouldn't be mentioned in the same breath with any other entity. They're in a class all by themselves!

[VKurtB]

On 8/22/2022 at 6:05 PM, Quintus Arrius said:

Just spotted this now. Littleton? LITTLETON! Wow! They're still in business? Incredible! They were way out of line with their pricing as far back as the 1960's. They shouldn't be mentioned in the same breath with any other entity. They're in a class all by themselves!

Littleton is still HUGE in the hobby and they sponsor the Wednesday talks and luncheon at the ANA annual convention. 

[Oldhoopster]

On 8/22/2022 at 7:05 PM, Quintus Arrius said:

Just spotted this now. Littleton? LITTLETON! Wow! They're still in business? Incredible! They were way out of line with their pricing as far back as the 1960's. They shouldn't be mentioned in the same breath with any other entity. They're in a class all by themselves!

Yes, Littleton prices are very high.  However, I have sold things like G-F barbers, Indians, common seated, etc, and they paid well for accurately Graded coins.  Ive also taken advantage of some of there loss leader specials (immediately returned the approvals with their postage paid label). For what its worth, the coins with grades (not those listed as avg circ) were accurately graded and problem free.  

I've Also heard some presentations from David Sundman, former head of Littleton, and he impressed me as a numismatist, not a coin salesman.

Edited August 23, 2022 by Oldhoopster

[RWB]

"coins" are not a logical collection. It is almost entirely emotional and historical connection. Investors (who are not really collectors) are financially "logical" about the subject, and feel no more remorse about selling than they would selling a building.

[Henri Charriere]

On 8/23/2022 at 3:39 PM, VKurtB said:

Littleton is still HUGE in the hobby and they sponsor the Wednesday talks and luncheon at the ANA annual convention. 

Is that so? To the OP: Kindly disregard my evidently uninformed, hastily-made comment.

[VKurtB]

On 8/23/2022 at 9:30 PM, Quintus Arrius said:

Is that so? To the OP: Kindly disregard my evidently uninformed, hastily-made comment.

Littleton does have a deserved reputation for high selling prices, but I hear they are quite generous buyers, as well. Many people with modest material have gotten solid offers from them. 

[Henri Charriere]

On 8/23/2022 at 10:52 PM, VKurtB said:

Littleton does have a deserved reputation for high selling prices, but I hear they are quite generous buyers, as well. Many people with modest material have gotten solid offers from them. 

Fair enough. I did not even know they were a viable concern. I last dealt with them in the late 1960's. Tempus fugit!

[thebeav]

I would always defend Littleton.

Yes, their prices are high, but you will receive exactly what you ordered. You bought a 1908 S Indian cent in fine, that's what you'll get. You may have paid up for it, but you weren't scammed. As mentioned previously, they are also very strong buyers. They're picky, but the pay strong money.

I can't imagine how many thousands of people they've introduced to coin collecting over the past many, many years. I dealt with them in the 60's. It kept my interest going as a kid......