Thank you, Daniel, for touching on this vitality important topic. I, for one, am an elderly veteran. Thanks be to God that I still possess my mental sharpness. It troubles my heart when I hear these stories of the elderly, veterans, or anyone for matter that are taken advantage of. We live in a sinful cruel world.
😮😢❤ ty for bringing this to our attention. I took care of an elderly woman who had dementia, for almost 4 yrs. I actually had to listen to what she was talking about sometimes in order to prevent similar types of situations. It's just a deplorable individual who would do something like this!!! And I hope they can be caught or brought to justice somehow!!!
Several years ago, I bought some of "the last of the Kennedies" 40% quarters from one of these infomercials. I quickly learned that I paid double what the coins we worth. The silver lining was this is what got me interested in stacking and collecting. It is important for the legit coin community to be open to newbies and educating them. Too often dealers and others brush off newbies. The way to fight the "scammers" is through education.
It's not only coins scammers but jewelry is also used to target elderly women. Daniel, thank you for being such a great guy! It is people like you thank will keep this hobby a fun and in the long run a good long term investment of time and money. Aloha nui loa
Unfortunately these companies have been fleecing the gullible elderly for over 45 years; my late father was victimized when he had dementia, but for fortunately it wasn’t more than low 3 figures, even when i had told him not to order from that company he kept getting flyers with too good to be true prices; thanks DANIEL for getting this viral, maybe itll slow them down or stop them?
I am older and interested in coin collecting. I hear so many scams and fakes . it scares me to even start collecting. I am learning a lot by watching these videos. they are very helpful and informative
Hello, the BEST advice I have for you, is to ONLY buy from REPUTABLE companies!!! Precious metals dealers that have been around for years!! Good luck in your coin collecting. Coin Collecting has Always been my favorite hobby!
My dad's a Vietnam Vet. He gets the Veterans mag every month. It took me more than year to convince him it was a scam. He thought it couldn't be a scam because it's in the Veterans magazine.... but it was!! Great video Daniel!!!
I was watching another coin dealer online, a man come into his store and was telling him how he lost 190,000 dollars and he was not an elder person. You hear this a lot on the radio and T.V. he took money 600,000 dollars from his retirement account put 300,000 in gold another 300,000 in silver because of the value of the dollar going down. The one thing the dealer looked at was the cost of the silver, at the time silver was at 31.00 per ounce. The company charged him 100.00 an ounce. The guy said " I didn't know! Buyer beware!!!!!!
anyone who commits elder abuse like this should receive triple the sentence ... the only way to stop these people is to Name them .. call them out !!! I understand why one would be hesitant to do this but they are evil .. pure evil and should be treated as such .....
Add coin dealers to the list of predatory entities like life insurance salesmen, investment brokers, and megachurches who rip people off under the guise of reputability.
@@CoinHELPu I wasn't trying to say all of the coin dealers any more than every case of the others, just that you have to be wary of the ones who are. If most weren't legitimate the crooked ones wouldn't have so much power to take advantage.
Great video!! It's Very Sad when people take advantage of the elderly, or anybody!! Karma will get them!! At the end of the day, God has the last say on Everything we do! They will have to answer to Him on their judgment day!
Thank you Daniel. My Mom moved down here to Fl. After my Dad passed. One of the first things she did was hand me the complete, gold plated set of state quarters. I want you to take it. All I could do was say thank you and feel my gut roll over. I need to tell her but it wont be easy.. Sigh. Thank you for putting this up.
I can relate to this. I visited a site selling pcgs Morgans at a very good price. I bought 3. I kept looking at them and thought something was off. Long story short, I broke one open and weighed it was really off. I then looked at the holders and all had the same certification number. Emotion and the idea of a good deal that is what gets you taken.
Shocking Daniel but very true people try to take advantage of the elderly in every form and fashion they should go to trial they should be held accountable.
It's sad that our country has become filled with so many grifters, scammers and people on the take. When I was growing up in the 50's as a kid collecting coins there was a trust that's now lost. I make sure my grandsons are careful about collecting coins and stamps from certain shops these days. Thanks Daniel for sharing this so I can show my grandsons and yet let them enjoy coin collecting. You're a good guy.
2 years ago on the HSN a TV shopping channel the guy was selling 10 ozt Canadian Mint bars ... saying they were rare and didnt think he would ever get more ... very rare ... selling them $150 more than the Mints website was selling them for
Thank you for this video, I had no idea companies were doing this to innocent people. I wish I knew the names of these places so I know not to do business with them.
These companies are disgusting. I appreciate wanting to leave something for your family, I want to do that too, but this is what scummy companies take advantage of. We all need to look out for our elderly because so many want to use them. Thanks, Daniel!
We need to look out for them and their best intrest. 👌 it is obvious they don't need to be scammed and should get their money's worth. But don't stop them from enjoying what they have earned they don't need to leave us anything it is their money they have earned it.
This is why a lot people don’t get into coins this is sad and it is the main reason there needs to be price guides for coins there is no other commodity out there that does not have price guide except coins
Im definitely sharing this with the person who bought my first coins I've ever sold. Because I'm so new at the selling end of things I was completely surprised when they said they knew nothing about coins. I informed them of the attribution sites, and hopefully what little information I can share in short texts and emails will help. I appreciate the trust they have in people, so it only seems decent and prudent to educate!
I swear, I would say that half of people who own a big coin/bullion collection have probably been scammed. Because not many people really know the intricacies of collecting precious metals, spot price, buying from individuals versus pawn shops etc. So many people get scammed by paying way too much for something. Or buying a bunch of generic graded coins for way too much thinking they've had something special. Not realizing they're not very liquid at all. And they lose tons of money. Very sad.
Another great video Daniel. I have mental problems myself. I have lost almost all my memories 5 times. That's why I don't sell on any platforms. I would suggest you get to know your local banks and coin shops. Most local coin shops are good people but they are always an exemption. My suggestion is to buy books like the red book of coins. A good guide to see what coins and mintage ( how many where made.) Thanks for letting us know about this Daniel.
Thanks for the reminder to always be aware. I have never been "shilked" to the extent of rhe examples you gave, nor do I know anyone that has fallen prey to vultures like that. I fell for the sales pitch a few times early in my collecting but hopefully I'm much wiser now thanks in part to you. I am afraid of what I would do if someone close to me got ripped off like that. I would want to burn someone's world to the ground !! Hopefully I've become educated enough, and been common sense enough, over the years to pass knowledge along like you do so people closest to me stay safe. Thanks again !!
There's a fantastic episode of the show South Park that covers a very similar issue, except the product in the episode is home shopping channel jewelry, but that market essentially utilizes IDENTICAL predatory sales tactics. It's portrayal is satirical in nature, of course, but VERY accurate at the same time. Most definitely worth a watch for anyone who would like a deeper understanding of this abusive sales technique, and how the cycle continues to be perpetuated. 👍🏼
To combat these dastardly transactions will unfortunately have to involve politicians.State laws will have to be changed to combat these shyster companies. I am 67 and I would love to get contacted by one of these companies. I would waste their time and never fork over a penny.
It’s not just predator coin sellers that target elderly and veterans. Sometimes it’s family that does that too. I listened to my 80 year old dad speaking to my half sister on the phone and she told him that her sister (my other half sister) bought his old mobile home with her settlement from a car accident and then my dad bought the current place he’s in and gave that old place to the park to give to someone who is not well of because it needed major repairs. So my half sister says since other half sister paid for that place (which she didn’t as he owned it before she had her car accident) that she now owns his current home! I was like what?!? Told my dad that those girls are up to something and are lying to him as he is forgetting stuff now and trying to plant the seed that he never owned the house!! I told my dad that is just wrong. Those girls don’t do much of anything for him and one of them has his entire house except for kitchen and his bedroom full of boxes and crap as she is a hoarder. He gets fearful and thinks they won’t talk to him if he doesn’t do what they say. I said to him what they are doing is WRONG AND he needs to stop talking to them! I’m trying not to get him upset but I don’t know if I should report this as they have ignored him in past when he didn’t done what they wanted. Ugh
Pawn shop in Las Vegas was going to give a friend $50 for a cent collection , flying eagles to complete Indian head, mostly complete Lincoln cent set. Centennial , Colorado dealer gave her $1400. The pawn shops are predatory.
A local coin store gave some people $550. Happened to over hear small shop. They said another place was going to pay $325. Where do I shop ? The $550 guy.👍
Thanks Daniel. These companies and organizations are just evil. They pray on not just the elderly but everyone. If you have a loved one buying abd investing, set down with them and give them advice. Im not saying so you might get more inheritance, but so they know.
That is very sad. I understand the whole mental thing. When I was going through a hard time coin collecting really got my mind off it. Then a dealer somehow got my number off Ebay, sending me pictures of coins and trying to sell them, acting as though they were financial adviser. Then accusing me of wasting their time when I didn't buy, like I didn't search out this person so actually it was the opposite.
These jerks come to my city several times a year to buy your gold and silver for half or less the value. I tell the people standing in line to go home. Better to go to a dealer who is trusted.
I have pleaded with friends and family to call me before they spent any money. Then told them to not watch the infomercial late at night (seniors are nighthawks)
These late night coin sellers are the worst offenders of elder abuse. Not only are they selling coins for at least double what they're worth, the tactics they use to make their sales pitch are specifically designed to draw in the uninformed, and the elderly. These sellers have a specific time to market (late night) to a target audience. I hope there's a special place in Hell for these thieves.
Predators of the elderly and mentally deficient are almost as reprehensible as child predators. Almost. Daniel, thank you for another insightful video.
Well, if it wasn't coins they'd be ripped off thru some alternate means, but an 800,000 transaction should have raised red flags somewhere. Scammers especially fishing scams are getting more and more sophisticated, it's easy to be fooled.
My dad bought coins for years from a company United States Commemorative Gallery. He died a couple years ago and now have all this stuff. Not knowing what to do with it. Can you help me?
Hi ... I am NOT a dealer, but I happen to be the guy whose e-mail Daniel read in this video above. My dad had also delved into lots of commemoratives. In my humble opinion, Companies like the USC Gallery that you mention, are the worst kind of companies to buy from. Unfortunately, the pretty boxes, fancy packaging etc is absolutely meaningless, & ALWAYS way too expensive per coin. You need to go thru the stuff you have, Identify what is REAL Silver & or REAL Gold, & start from there. Like my dad, your dad probably paid at least 3 times what any given coin is actually worth because he bought from places like USC Gallery. Right now Silver is quite high at 29.00 per ounce, & Gold is at 2,630.00 per ounce. So every REAL Silver coin you have should be worth somewhere in the vicinity of 29.00 at a minimum just for the price of the Silver alone. Any 1 ounce pieces of REAL Gold that you have, is worth around 2,630.00, just for the value of the Gold. THEN maybe you can possibly buy a current price guide for the "Commemoratives" value if there is any. Companies like USC Gallery will sell stuff in sets that look like Gold but are often just Clad coins with a coating, or look like Gold from the US Mint on coins like the Sacagawea. Good Luck Out There.
You can send an email of what you have, dealers are going to pay less than melt for this, anywhere from 80% to 90% of melt. USCG stuff sells for around melt.
Daniel to hear that this is going on in our hobby and investment's just (pardon me but just pisses me off). I wish those people would be prosecuted to the fullest so people like you don't look bad.
There's too many to name, and new ones come up often, so it's much more than entertainment. YOU know who they are, you see the fliers and TV infomercials. Everyone does.
The big ones are Bradford Exchange and Littleton Coin Co. They're the ones you usually hear about, but I'm sure there's more. Daniel has done videos about those companies before.
@TheWinstonDouble Govmint is another one. I deliver mail, and I just saw one of their catalogs yesterday and I read through it. They sell three common-date Indian cents, in F-VF condition, for 29.95. Even if those coins are problem-free, that is a big ripoff.
That part you were told where old folks are storehouses of wisdom? TBH, I’ve met way too many who fall for this and worse, such as offers of matrimony from distant lands. 😂
This makes me sick. It’s like that infomercial I’ve seen for the gold buffalo, nickel clad and 9999 fine gold. The initial price was to be said at 39.95 You can get it now for just 9.95and there’s like $.10 worth of gold. Just a scam.
Look at the ripoffs constantly on cable selling Morgans / ASE at inflated prices. View coin collecting as a hobby for 99% of collectors, not an investment.
I would never put serious money in to collector type items, collector type coins, and etc. I would only invest in to shares of viable companies that pay out dividends and trade at market value. The only type of coins I would buy are 24K gold currency type coins that trade by weight, or registered gold bars through a reputable verified broker. I have to be able to walk in to the broker's office and deal directly with someone. I would not invest a large amount of money in to precious metals or any types of collectables. Buying quality type shares of companies in the stock market, over time will have growth.
That's a shame unreal i recently subscribed to you n i live really close n gonna come to your shop soon getting ready to send some coins off to have graded i was thinking of anacs but would love to show you n get your opinion on that n can't wait to c what you have
It is sometimes better to just leave cash to the heirs instead of coins or other assets. Because when they inherit them, the heirs would spend time, money and effort to get liquidate them. You know the heirs would rather have the cash to pay bills or blow it in Vegas or the nearest Indian Casino.
Sad sad sad!! Humans can be so vicious to each other. We do need to spread the word and expose the truth. Thank you Daniel for addressing a very sensitive issue
Someone gets to that age and they might not be all there then someone has to step up and help keep these people from talking to that elderly person and keep them from buying stuff like that. With a lawyers help you can setup ways to protect people from buying stuff like this
Shameful. Thank you, Daniel. Honestly, when I do shows and people ask my advice, I tell them, do not buy off the tv. Do not buy of unsolicited mail crap unless you are an expert. Buy from the US Mint. I know it is expensive, but at least from the US Mint, it's real. And I tell them all about you. At least once or twice a show, I'm talking about you. I trust you and I trust one other coin dealer in my area and one place where I buy my roll of eagles each year online. It is a scammer paradise out there.
You turn 65, and every salesman comes out of the woodwork to sell you everything from healthcare to gold & silver. They pray you have dementia because that’s how they make real money.
I get junk mail in my mail box and see advertisements for buying coins and I can see why most elderly would fall for it because on average they are not computer savvy and don't know better and buy this junk for inflated prices. Sure, it's their money, but somebody who's smart would do some research instead of diving off the deep end with little to no knowledge of what they're doing. That part is their fault and that part is "Stupid".
Now I'm not usually the type of person to say this, especially about the coin hobby, but the government needs to step in. This ain't right. Calling up someone 5 times a day with dimentia to sell them overpriced stuff is just scamming. Some of these people forget that they just bought something from them 2 hours ago. They probably get them on the shipping for each item with each call, then send all the purchases in one box, too. I wouldn't put that past them.
When you should those pandas one company came to mind government mint they call me every so often with these outrageous prices on first strike pandas say you can make 4 payments tell you there are a better coins before the dies wear out thank God I have the knowledge
So would the US Mint itself be considered a scam sight. Their prices are ridiculous. If you wait, you can buy the same thing cheaper off of eBay a year later. It's pretty much the same story.
This is up there with a certain disgraced televangelist selling worthless "prayer coins" a few years ago. There's a special place in Hell reserved for people who make their living by fleecing the elderly.
I wonder how many people bought those stupid .9999 fine "GOLD CLAD" indian head coins on TV and thought they were a valuable investment. "CLAD" means plated, not solid Gold! Worthless junk!
Thank you!
Thank you for your effort to keep us all informed.
Thank you, Daniel, for touching on this vitality important topic. I, for one, am an elderly veteran. Thanks be to God that I still possess my mental sharpness. It troubles my heart when I hear these stories of the elderly, veterans, or anyone for matter that are taken advantage of. We live in a sinful cruel world.
I believe that they should be arrested
. I agree 100 percent.😮
Happy New Year 🎉 Thank you for sharing this information !
OMG this is terrible Thanks Daniel
I cannot thank you enough for posting this. Daniel, you are an honest gentleman.
This is such a shame, and those lawyers need to be disbarred.
😮😢❤ ty for bringing this to our attention. I took care of an elderly woman who had dementia, for almost 4 yrs. I actually had to listen to what she was talking about sometimes in order to prevent similar types of situations. It's just a deplorable individual who would do something like this!!! And I hope they can be caught or brought to justice somehow!!!
Pretty sad about situations like these. It makes me sick. I hope those nasty people get bad karma. Thanks Daniel for sharing much appreciated.
This is happening so much now. I have no tolerance for anyone taking advantage of the elderly.
Several years ago, I bought some of "the last of the Kennedies" 40% quarters from one of these infomercials. I quickly learned that I paid double what the coins we worth. The silver lining was this is what got me interested in stacking and collecting. It is important for the legit coin community to be open to newbies and educating them. Too often dealers and others brush off newbies. The way to fight the "scammers" is through education.
I've seen this with older folks before. They can get taken fast. Thanks Daniel for this kind of info.
It's not only coins scammers but jewelry is also used to target elderly women. Daniel, thank you for being such a great guy! It is people like you thank will keep this hobby a fun and in the long run a good long term investment of time and money. Aloha nui loa
Unfortunately these companies have been fleecing the gullible elderly for over 45 years; my late father was victimized when he had dementia, but for fortunately it wasn’t more than low 3 figures, even when i had told him not to order from that company he kept getting flyers with too good to be true prices; thanks DANIEL for getting this viral, maybe itll slow them down or stop them?
These 🤬 companies need to be treated with the Bud Light effect!
HAPPY NEW YEAR! I HATE scammers and have been scammed. So be very very careful.
I am older and interested in coin collecting. I hear so many scams and fakes . it scares me to even start collecting. I am learning a lot by watching these videos. they are very helpful and informative
Hello, the BEST advice I have for you, is to ONLY buy from REPUTABLE companies!!!
Precious metals dealers that have been around for years!! Good luck in your coin collecting. Coin Collecting has Always been my favorite hobby!
We don't over charge or scam people at my coin shop.
My dad's a Vietnam Vet. He gets the Veterans mag every month. It took me more than year to convince him it was a scam. He thought it couldn't be a scam because it's in the Veterans magazine.... but it was!! Great video Daniel!!!
I was watching another coin dealer online, a man come into his store and was telling him how he lost 190,000 dollars and he was not an elder person. You hear this a lot on the radio and T.V. he took money 600,000 dollars from his retirement account put 300,000 in gold another 300,000 in silver because of the value of the dollar going down. The one thing the dealer looked at was the cost of the silver, at the time silver was at 31.00 per ounce. The company charged him 100.00 an ounce. The guy said " I didn't know! Buyer beware!!!!!!
It should be 20 years for taking advantage of the elderly in anyway shape or form!
anyone who commits elder abuse like this should receive triple the sentence ... the only way to stop these people is to Name them .. call them out !!! I understand why one would be hesitant to do this but they are evil .. pure evil and should be treated as such .....
Add coin dealers to the list of predatory entities like life insurance salesmen, investment brokers, and megachurches who rip people off under the guise of reputability.
Coin dealers are not predatory entities. You have bad in all professions, that doesn't make most of them bad.
@@CoinHELPu I wasn't trying to say all of the coin dealers any more than every case of the others, just that you have to be wary of the ones who are. If most weren't legitimate the crooked ones wouldn't have so much power to take advantage.
Great video!! It's Very Sad when people take advantage of the elderly, or anybody!! Karma will get them!! At the end of the day, God has the last say on Everything we do! They will have to answer to Him on their judgment day!
These people that do this to the elderly or any person in general have a special place in hell for preying on innocent people!
Thank you Daniel. My Mom moved down here to Fl. After my Dad passed. One of the first things she did was hand me the complete, gold plated set of state quarters. I want you to take it. All I could do was say thank you and feel my gut roll over. I need to tell her but it wont be easy.. Sigh. Thank you for putting this up.
I can relate to this. I visited a site selling pcgs Morgans at a very good price. I bought 3. I kept looking at them and thought something was off. Long story short, I broke one open and weighed it was really off. I then looked at the holders and all had the same certification number. Emotion and the idea of a good deal that is what gets you taken.
Shocking Daniel but very true people try to take advantage of the elderly in every form and fashion they should go to trial they should be held accountable.
Thx for the info Daniel
"A fool and his money are soon parted" Anyone with this level of discretionary capitol needs help.
It's sad that our country has become filled with so many grifters, scammers and people on the take. When I was growing up in the 50's as a kid collecting coins there was a trust that's now lost. I make sure my grandsons are careful about collecting coins and stamps from certain shops these days. Thanks Daniel for sharing this so I can show my grandsons and yet let them enjoy coin collecting. You're a good guy.
2 years ago on the HSN a TV shopping channel the guy was selling 10 ozt Canadian Mint bars ... saying they were rare and didnt think he would ever get more ... very rare ... selling them $150 more than the Mints website was selling them for
😢😢😢 sick .. miracle ear did this same thing to an elder man i know you must be very careful.
Sadly, some people fall for the glossy flyers and expensive, museum quality packaging of "coins" that by themselves have little value.
Thank you for this video, I had no idea companies were doing this to innocent people. I wish I knew the names of these places so I know not to do business with them.
Owe, this is brutal.
These companies are disgusting. I appreciate wanting to leave something for your family, I want to do that too, but this is what scummy companies take advantage of. We all need to look out for our elderly because so many want to use them. Thanks, Daniel!
We need to look out for them and their best intrest. 👌 it is obvious they don't need to be scammed and should get their money's worth. But don't stop them from enjoying what they have earned they don't need to leave us anything it is their money they have earned it.
Thank you for this VERY important information!!
HAPPY NEW YEAR DANIEL AND PORTSMOUTH COIN COMPANY
Same to you!
This is why a lot people don’t get into coins this is sad and it is the main reason there needs to be price guides for coins there is no other commodity out there that does not have price guide except coins
Now this is a video that should go viral,keep up the great information and have a blessed day and Happy New Year🎉
Im definitely sharing this with the person who bought my first coins I've ever sold. Because I'm so new at the selling end of things I was completely surprised when they said they knew nothing about coins. I informed them of the attribution sites, and hopefully what little information I can share in short texts and emails will help. I appreciate the trust they have in people, so it only seems decent and prudent to educate!
I swear, I would say that half of people who own a big coin/bullion collection have probably been scammed. Because not many people really know the intricacies of collecting precious metals, spot price, buying from individuals versus pawn shops etc. So many people get scammed by paying way too much for something. Or buying a bunch of generic graded coins for way too much thinking they've had something special. Not realizing they're not very liquid at all. And they lose tons of money. Very sad.
Another great video Daniel. I have mental problems myself. I have lost almost all my memories 5 times. That's why I don't sell on any platforms. I would suggest you get to know your local banks and coin shops. Most local coin shops are good people but they are always an exemption. My suggestion is to buy books like the red book of coins. A good guide to see what coins and mintage ( how many where made.) Thanks for letting us know about this Daniel.
This is predatory behavior against vulnerable people. This is *almost* as bad as sex predators preying on young children.
Thanks for the reminder to always be aware. I have never been "shilked" to the extent of rhe examples you gave, nor do I know anyone that has fallen prey to vultures like that. I fell for the sales pitch a few times early in my collecting but hopefully I'm much wiser now thanks in part to you. I am afraid of what I would do if someone close to me got ripped off like that. I would want to burn someone's world to the ground !! Hopefully I've become educated enough, and been common sense enough, over the years to pass knowledge along like you do so people closest to me stay safe. Thanks again !!
That's what happens by a lot of telemarketers. Especially on the 1st and 15th.
There's a fantastic episode of the show South Park that covers a very similar issue, except the product in the episode is home shopping channel jewelry, but that market essentially utilizes IDENTICAL predatory sales tactics. It's portrayal is satirical in nature, of course, but VERY accurate at the same time. Most definitely worth a watch for anyone who would like a deeper understanding of this abusive sales technique, and how the cycle continues to be perpetuated. 👍🏼
I saw that
Thanks for sharing this important information. Tactics like these really hurt the hobby.
Terrible that the elderly get taken advantage of.
To combat these dastardly transactions will unfortunately have to involve politicians.State laws will have to be changed to combat these shyster companies. I am 67 and I would love to get contacted by one of these companies. I would waste their time and never fork over a penny.
Some politicians don't believe in more regulation
Beware! They could be PART of the scam!!!😮
Great video thank you for sharing.
It’s not just predator coin sellers that target elderly and veterans. Sometimes it’s family that does that too. I listened to my 80 year old dad speaking to my half sister on the phone and she told him that her sister (my other half sister) bought his old mobile home with her settlement from a car accident and then my dad bought the current place he’s in and gave that old place to the park to give to someone who is not well of because it needed major repairs. So my half sister says since other half sister paid for that place (which she didn’t as he owned it before she had her car accident) that she now owns his current home! I was like what?!? Told my dad that those girls are up to something and are lying to him as he is forgetting stuff now and trying to plant the seed that he never owned the house!! I told my dad that is just wrong. Those girls don’t do much of anything for him and one of them has his entire house except for kitchen and his bedroom full of boxes and crap as she is a hoarder. He gets fearful and thinks they won’t talk to him if he doesn’t do what they say. I said to him what they are doing is WRONG AND he needs to stop talking to them! I’m trying not to get him upset but I don’t know if I should report this as they have ignored him in past when he didn’t done what they wanted. Ugh
Thats for the video Daniel, and have a Great New Year!
Hsn is a perfect example of what you are saying.
😢 that's heart breaking for those family's and the persons that actually purchased from those nasty companies.
There are very few places a honest person can buy coins most on lane sites are over priced it’s tough
Pawn shop in Las Vegas was going to give a friend $50 for a cent collection , flying eagles to complete Indian head, mostly complete Lincoln cent set. Centennial , Colorado dealer gave her $1400. The pawn shops are predatory.
A local coin store gave some people $550. Happened to over hear small shop. They said another place was going to pay $325. Where do I shop ? The $550 guy.👍
Hello happy new year to you thanks for the help with everything 😊
Excellent video Daniel! Happy New Year. 👍🏾
Thanks Daniel. These companies and organizations are just evil. They pray on not just the elderly but everyone. If you have a loved one buying abd investing, set down with them and give them advice. Im not saying so you might get more inheritance, but so they know.
That is very sad. I understand the whole mental thing. When I was going through a hard time coin collecting really got my mind off it. Then a dealer somehow got my number off Ebay, sending me pictures of coins and trying to sell them, acting as though they were financial adviser. Then accusing me of wasting their time when I didn't buy, like I didn't search out this person so actually it was the opposite.
These jerks come to my city several times a year to buy your gold and silver for half or less the value. I tell the people standing in line to go home. Better to go to a dealer who is trusted.
I have pleaded with friends and family to call me before they spent any money. Then told them to not watch the infomercial late at night (seniors are nighthawks)
These late night coin sellers are the worst offenders of elder abuse. Not only are they selling coins for at least double what they're worth, the tactics they use to make their sales pitch are specifically designed to draw in the uninformed, and the elderly. These sellers have a specific time to market (late night) to a target audience.
I hope there's a special place in Hell for these thieves.
Predators of the elderly and mentally deficient are almost as reprehensible as child predators. Almost. Daniel, thank you for another insightful video.
Well, if it wasn't coins they'd be ripped off thru some alternate means, but an 800,000 transaction should have raised red flags somewhere. Scammers especially fishing scams are getting more and more sophisticated, it's easy to be fooled.
I’m 29 and Littleton somehow found out I buy coins and now I constantly get their flyers in the mail.
My dad bought coins for years from a company United States Commemorative Gallery. He died a couple years ago and now have all this stuff. Not knowing what to do with it. Can you help me?
Get multiple quotes everyone pays differently
Hi ... I am NOT a dealer, but I happen to be the guy whose e-mail Daniel read in this video above. My dad had also delved into lots of commemoratives. In my humble opinion, Companies like the USC Gallery that you mention, are the worst kind of companies to buy from. Unfortunately, the pretty boxes, fancy packaging etc is absolutely meaningless, & ALWAYS way too expensive per coin. You need to go thru the stuff you have, Identify what is REAL Silver & or REAL Gold, & start from there. Like my dad, your dad probably paid at least 3 times what any given coin is actually worth because he bought from places like USC Gallery. Right now Silver is quite high at 29.00 per ounce, & Gold is at 2,630.00 per ounce. So every REAL Silver coin you have should be worth somewhere in the vicinity of 29.00 at a minimum just for the price of the Silver alone. Any 1 ounce pieces of REAL Gold that you have, is worth around 2,630.00, just for the value of the Gold. THEN maybe you can possibly buy a current price guide for the "Commemoratives" value if there is any. Companies like USC Gallery will sell stuff in sets that look like Gold but are often just Clad coins with a coating, or look like Gold from the US Mint on coins like the Sacagawea. Good Luck Out There.
You can send an email of what you have, dealers are going to pay less than melt for this, anywhere from 80% to 90% of melt. USCG stuff sells for around melt.
Enough to make sick 🤢
Daniel to hear that this is going on in our hobby and investment's just (pardon me but just pisses me off). I wish those people would be prosecuted to the fullest so people like you don't look bad.
Unless we name them this is just entertaining and the abuse goes on.
There's too many to name, and new ones come up often, so it's much more than entertainment. YOU know who they are, you see the fliers and TV infomercials. Everyone does.
The big ones are Bradford Exchange and Littleton Coin Co. They're the ones you usually hear about, but I'm sure there's more. Daniel has done videos about those companies before.
@TheWinstonDouble Govmint is another one. I deliver mail, and I just saw one of their catalogs yesterday and I read through it.
They sell three common-date Indian cents, in F-VF condition, for 29.95. Even if those coins are problem-free, that is a big ripoff.
I always go to my trusted Local dealer. If my dealer recommends someone I trust the dealers judgement
That part you were told where old folks are storehouses of wisdom? TBH, I’ve met way too many who fall for this and worse, such as offers of matrimony from distant lands. 😂
I found (2) cool coins in my change this weekend. A 1990 D penny with double die reverse and a 1981 S dime.
This is disgusting.
This makes me sick. It’s like that infomercial I’ve seen for the gold buffalo, nickel clad and 9999 fine gold. The initial price was to be said at 39.95 You can get it now for just 9.95and there’s like $.10 worth of gold. Just a scam.
Sad that this is happening my father and mother where always under attack.
Look at the ripoffs constantly on cable selling Morgans / ASE at inflated prices. View coin collecting as a hobby for 99% of collectors, not an investment.
I would never put serious money in to collector type items, collector type coins, and etc. I would only invest in to shares of viable companies that pay out dividends and trade at market value. The only type of coins I would buy are 24K gold currency type coins that trade by weight, or registered gold bars through a reputable verified broker. I have to be able to walk in to the broker's office and deal directly with someone. I would not invest a large amount of money in to precious metals or any types of collectables. Buying quality type shares of companies in the stock market, over time will have growth.
That's a shame unreal i recently subscribed to you n i live really close n gonna come to your shop soon getting ready to send some coins off to have graded i was thinking of anacs but would love to show you n get your opinion on that n can't wait to c what you have
I am sorry but I don’t offer that kind of advice. I am very busy running the business and I can’t examine ungraded coins and give advice. Sorry.
It is sometimes better to just leave cash to the heirs instead of coins or other assets. Because when they inherit them, the heirs would spend time, money and effort to get liquidate them. You know the heirs would rather have the cash to pay bills or blow it in Vegas or the nearest Indian Casino.
Sad sad sad!! Humans can be so vicious to each other. We do need to spread the word and expose the truth. Thank you Daniel for addressing a very sensitive issue
Someone gets to that age and they might not be all there then someone has to step up and help keep these people from talking to that elderly person and keep them from buying stuff like that. With a lawyers help you can setup ways to protect people from buying stuff like this
Seniors with money need conservators. More money than sense.
Daniel. How do you feel about the Vault Box “ship wreck” paper money that’s all shredded and stuff. I feel like it’s a total scam myself.
I don't get into those, but they're not scamming people.
Shameful. Thank you, Daniel. Honestly, when I do shows and people ask my advice, I tell them, do not buy off the tv. Do not buy of unsolicited mail crap unless you are an expert. Buy from the US Mint. I know it is expensive, but at least from the US Mint, it's real. And I tell them all about you. At least once or twice a show, I'm talking about you. I trust you and I trust one other coin dealer in my area and one place where I buy my roll of eagles each year online. It is a scammer paradise out there.
Why does the mail or FCC even allow that garbage to go through!!?
@leechjim8023 My honest guess is the excessive amount of money being scammed and politicians "lobbied" to look the other way.
I have over paid for some of the coins that I have bought in the past now I buy most of my coins locally.
Thank you for this video. Watch the movie "The Bee Keeper".
You turn 65, and every salesman comes out of the woodwork to sell you everything from healthcare to gold & silver. They pray you have dementia because that’s how they make real money.
Karma will get these dirty cheats one way or another.
I get junk mail in my mail box and see advertisements for buying coins and I can see why most elderly would fall for it because on average they are not computer savvy and don't know better and buy this junk for inflated prices. Sure, it's their money, but somebody who's smart would do some research instead of diving off the deep end with little to no knowledge of what they're doing. That part is their fault and that part is "Stupid".
Now I'm not usually the type of person to say this, especially about the coin hobby, but the government needs to step in. This ain't right. Calling up someone 5 times a day with dimentia to sell them overpriced stuff is just scamming. Some of these people forget that they just bought something from them 2 hours ago. They probably get them on the shipping for each item with each call, then send all the purchases in one box, too. I wouldn't put that past them.
When you should those pandas one company came to mind government mint they call me every so often with these outrageous prices on first strike pandas say you can make 4 payments tell you there are a better coins before the dies wear out thank God I have the knowledge
Book-em DANO!!!!lol❤🎉
So would the US Mint itself be considered a scam sight. Their prices are ridiculous. If you wait, you can buy the same thing cheaper off of eBay a year later. It's pretty much the same story.
They don't call elderly people and lie to them.
True, but I was considering the rest of the story, with most of their products being way overpriced.
What are name of these companies?
This is up there with a certain disgraced televangelist selling worthless "prayer coins" a few years ago. There's a special place in Hell reserved for people who make their living by fleecing the elderly.
I wonder how many people bought those stupid .9999 fine "GOLD CLAD" indian head coins on TV and thought they were a valuable investment. "CLAD" means plated, not solid Gold! Worthless junk!
You can't trust anyone anymore.
That's not true. You can't trust everyone, maybe even most. There are people like Daniel that can be trusted still out there.