Don't Do This To Family Members - Epic Fail Or Epic Collection?
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- Опубликовано: 1 июл 2024
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Don't Do This To Family Members - Epic Fail Or Epic Collection?
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Don't Do This To Family Members - Epic Fail Or Epic Collection?
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Hey bad ass dude, I totally get what you're saying and definitely follow the Cherry pickers guide, but the lighter stuff like you're saying dude if I'm searching I'm going to look at it / for it if you know what I mean
What's worse than over paying for a for a coin in a fancy box? Answer: over paying for a colored, painted, altered coin in a fancy box. 😒
It looks like somebody was staying up late, watching TV and falling for those predatory infomercionals.
When my grandfather began collecting coins there was not much information available. He obtained his items basically by mail order in the 1960s. He knew enough to buy directly from the US government. My first silver eagles came from one of those middle of night shows and commemoratives from Kmart in the 1980s. Times have evolved. Sometimes when I am sitting and waiting in the coin shop, I watch family members cry openly in shame and horror at some of these enormous magazine purchased collections. I see many coin channels never give any historical perspectives as to how these type of collections happened. Silver stackers have really changed the silver, bullion, gold, and numismatic game. My brother who was homeless taught me about silver stacking when most family members would just tell him to “shut the f…. up” I laugh now, because he is the one that inherited grandpa’s collection.
Its tough watching old timers getting taken to the cleaners. A little research goes a long ways. I love my local coin shop. Thanks Daniel
😂😅😂
It's sad that someone paid that much for minimal silver and "flashy" boxes with keys. Ya, they're cool but never worth the premium
Omg you're right. They have keys too. That's really dumb.
Thank goodness he liked coins. Imagine how little return there would be if he spent it all on other hobbies.
You're a great guy man. I hope that when I pass away my family doesn't get screwed over.
You are a kind soul. Thank you for helping families get through tough times.
I can only say that the person who bought these got a great deal of pleasure collecting and accumulating. Doing something good for their family. That was their life and what was important to them. In that way it's an epic collection.
People do that with property, art, bitcoin, NFTs, baseball cards ... there's no end to the things people collect.. Thanks for the tips for collectors who need guidance. we all could use some of that. 💕
It is obvious that the buyer was not doing due diligence. BUT, there are times when you just like the collection. Like George Carlin said, "Nail two things together that have never been nailed together before then some schmuck will buy it."
Care facilities can depelete all cash savings, but coin collections are untraceable. Good choices were not made, but that is history at this point
But this is someone else's present or future and if they see this video that might prevent another act of irrevocable history.
@@CoinHELPu 💯
I stack all kinds of silver that I buy cheap. Recently I was talking to a coworker and he said that he's been buying gold plated "tribute" coins to leave to his granddaughter. It broke my heart.
Ooh bless him though good intentions
Oof I woulda given him 5 ounces of silver and told him what to stack
I've been saying for years that the Proof-69 or 70 GRADED Silver Eagles is a JOKE! Why can't the grading companies just grade them as "authentic" and leave it at that? Of course a huge majority are going to come back in high grades! Some of these grading companies are as guilty as some of the coin dealers! Also, companies like ICG and some of the TV shows are just taking advantage of seniors!
Good solid advice. Never buy from these late night infomercial rip off artists.
unless it was 1998 ❤😅 man....seeing the old offers on coinage from back then
This fella mustve got EVERY Reader’s Digest offer for 45yrs😃
buy silver and gold bullion straight from mass dealers like apmex, the only holder i need is cardboard, poly and staples to keep off fingerprints. so I am buying mostly metal, all sovereign because that's how I like it. I like to support local dealers too, they need business.
This is a typical novice and /or elderly collector who made many spontaneous purchases.
My great aunt passed away and her children thought she had a fortune wrapped up in a coin collection.
The entire collection appraised for barely $1500.
Gold plated state quarters and modern proof sets mostly, she probably paid 3 times more than the appraisal
Here's the worst part....can you imagine trying to STORE all that FODDER?......
I had 4 deadbeat grandparents who were lousy parents and lousy grand parents. On top of that they were into nothing. Well they were into getting drunk and watching tv. No hobbies, no interests. One had a few coins they kept from their change. No stamps, no sports cards. Just a life of tv, booze and fighting in front of their kids. The one grandma did buy a few elvis whiskey bottles and state plates she thought were going to be part of her retirement plan. Of course after 40 years they were worth nothing. Just people that had no interest in anything, especially their grandkids, and didnt know anything. And didnt want to know anything. Just a life of booze, snacks and tv. So yeah, not much left to me by them.
Are you stacking?
@@ronaldperry no, i am selling to try to pay credit cards to avoid 30% interest
@@corruptduboiscountyindiana5058 do what you need to do.
To each their own. I like those cases. It was an epic collection.
Collect what you like... just try not to overpay.
When Mike Mezack says "red oak" I say shut up and take my money!
I've had a friend of mine inherit a much smaller collection that was primarily purchased from a very well known Colorado coin business. The items were overgraded, many cleaned, and overpriced, but not 200% premium. All common dates and almost all worth melt or slightly more.
It's always difficult, but the only ethical way to respond is the truth. Sometimes the truth includes "I'm sure your uncle got lots of enjoyment putting this together".
Thanks Daniel for another great episode, it's fun!!!
Good Message
If you are going to collect fancy overpriced items, let family know. Thats great advice. 90% of what I collect but 10% is stuff I really like that has some serious premiums. Will my kids get that premium in the future? Maybe maybe not.
Daniel I truly appreciate what you are doing to help others so much. It’s a sacrificial service to take the time to do these videos and they not only give coin education to others, but also they teach wisdom. I wish I had collected when I was younger, but I have collected a very large amount in the nine months since I started. I wish I had watched more of your videos when I started, so grateful for your service to people.
epic fail, morgan mint franklin all these tv coin dealers mint all this stuff was sold to old people on nightly shows during the 80s. they charged way overpriced and charged credit card leaving tons of olds people in debt. pcs isnt that bad necessarily. but still not the best either.
Not even when I didn’t know anything about coins I wouldn’t have bought these coins.
Thanks Daniel. When I first started out in this hobby, I made some mistakes. But I was fortunate enough to be able to watch videos like these to warn me of some of the less than ethical companies out there overcharging on their products. I really appreciate your help in educating the masses. Keep 'em coming Daniel!!!
Thank you for the great information.
Good show. Going to the stores I rarely see the young collect. There is one kid that comes in. He seems to buy silver slabs. He's probably 10 and comes with him mom. Great to see.
The Bradford Exchange has great looking presentation cases for which you pay through the roof. The last time I bought anything from them was about 40 years ago.
Great video Daniel. This is the kind of videos I can share to my friends who don’t collect but are interested and they find companies like this who target them and their relatives through ads on tv or fb.. I try to tell them but this video really helps..
I feel bad for people that fall for the infomercial scams.. Poor old people just don't know any better.
Oh MY heaven!....Did that dude get RIPPED OFF or WHAT?
Good video to alert the collectors out there who aren't well versed with the details of collecting.
It’s a shame that Predatory Coin Dealers rip unsuspecting seniors off, by how they present the coins and “you can buy from the comfort of your own home and with low monthly payments.” I think also people possibly distrust local dealers and rarely ever research what coins are really worth.
Daniel it would be interesting to know the actual value of the collection.
I suspect that sadly, there are a lot of collections like this out there. Thanks for showing these and for the sensible commentary 👍. Support your LCS if you can folks……
Priceless information sir....thank you.
While I don't personally buy that kind of silver it is still quite a collection. The person obviously enjoyed those items and while I certainly wouldn't recommend doing that at least they didn't blow it all at the casino. In the end they still left the family with something more than nothing.
The pattern replicas are neat.
Your perspective is very much like mine. We collect coins and we want to get good deals, in terms of value, based on the condition, date, mintmark, etc. We'll even pay a premium for someone else's opinion of the coin. But, there are people out there who like to buy the nice display cases, the beauty of the layout, and the "history" cards that come with them. Are some of them outrageous and a rip-off? Absolutely. But, in my mind, it's like buying a brand-name towel at Bed, Bath, and Beyond or a customized coffee cup. You can get them for twenty-five cents at a garage sale. But, you're gong to pay a premium for them at the store. I guess I've just gotten used to it, just like I've gotten used to the U.S. Mint making every commemorative under the sun just to get extra money from collectors. I do know, when I go to buy a collection, I attached zero value to anything in a presentation case and to anything that's colorized just like I'll pay next to nothing for modern-day proof sets.
Anyway... Just my thoughts on it. Thank you for sharing the video. :)
Appreciate your honesty and knowledge on the situation. Nice video!
I'd say this collection was an EPIC FAIL 👎👎
All that stuff is what the scammers sell to unsuspecting victims. Such a shame.
Another reason why people should watch your videos, Daniel. Thanks for sharing.
Very interesting topic. I need to get my coins organized.
Interesting presentation.
Very cool and unique coin boxes may be found at thrift shops, flea markets or support your local wood worker/artist.
Have been contemplating on making my own.
Stack on!🇺🇸🇻🇮
Excellent video, Daniel. Way more fun to find ungraded coins and put in capsules or a case.
I only have these kind of things in my collection for 3 reasons. Inherit and personally like. I also get boxed commemorative silver from my LCS when he has them because he just sells them for loose coin price, which means he only pays that.
Great Video 👍🏻 I hope you make money off all of those boxes and coins. You did that seller a solid by buying that. You’re a good man by helping someone like that out, he’s probably going through a hard enough time with his loss.
I would totally buy a collector box or two if my LCS carried that stuff. Anyway, thanks for being a good guy and helping someone out 👍🏻🇺🇸🇺🇸🇺🇸
Thanks for the down to earth review. Although I did see one of those boxed sets go for good money at a auction.
Wow, someone overpaid, too bad. neat coins but you never will get your money back. thanks for the video. hope it will help new collectors not fall into the same trap.
This is a PERFECT Example of what NOT to Buy - The wooden display cases are very nice - Lots of CLEANED Coins - I feel sorry for the family who's relative wasted so much money.
Yeah, but this collection is worth some money. Better than no money. The person could have wasted his money buying beer, woman, and smokes. The crappy part is: the collection is a mix of everything and the kitchen sink...someone will have to go through the whole thing. I would bet the buyer will just offer a price to get it all, and the seller will be happy to get rid of it, they will accept a lower price than it's worth.
A dealer doesn't pay what a coin collections worth, but he got at least melt for his coins here, and over on some.
I have learned a lot from you, started truly collecting and learning a couple years ago although Iv'e been saving cool coins sinse I was a kid because I like coins. Anyway,, thank you foryour insight and knowledge.
When I first started collecting coins, I set myself a condition.
I would never pay more than 10% over spot for silver bullion coins, and would never buy a numismatic coin at any price over double spot.
For gold I would never pay more than 5% over spot for bullion and would never buy a numismatic worth more than a 30% premium
I figured that would give me a lot of protection till i actually learned to grade and value coins.
It stopped me buying a LOT of morgan and other silver coin turkeys I can tell you.
It also allowed me to get a bunch of gold commemoratives at very good values - generally under spot.
Now that I know a bit more I often go into full numismatic mode but only for things I really want to have and that are very rare indeed.
Oh yeah I have had people wanting to sell collections like this ...i have had to sort through 500 dollars of over marketed ..whipped up crap ..a $10 coin in a nice pretty container or holder ect ect ect...you may find some good coins in larger collections but lots of bows and boxes for a worn out common dated coins that I have had to sort through mess like this a number of times ..the box was nicer and about as valuable as the coin
Plenty WW2 generation spent tons of money from TV infomercials.
IF that kind of inheritance fell in my lap, it would be worth keeping or selling for fiat.
I bet that their cost average would be pretty low. lol
However, I agree with your advice against paying way too much.
Great video, Daniel. I hope this helps people understand that there are preditorial companies out there taking advantage of people.
ALL THOSE SILVER EAGLES IN GENERIC SLABS! FOLKS PLEASE STAY AWAY FROM THE GENERIC SLABS WHEN PURCHASING ANY COINS PERIOD!!!!!!!!!!
its obvious the guy loved what he bought but yes he spent needlessly...I wont say reckless because he it is so evident he loved them!
I do like the presentation, but not at triple the price. Great advice as always. Wish you were local to me. Here in WV
sad but educational video Daniel
I want to leave something for Daniel, but since I am not rich enough all I can leave is a comment on this post. Keep em coming.
The more people know the better deal they can make . Coins in holders by " someone else " is never a good idea . They LOOK great ! but as you said most if not all coins are just regular date and grade coins . People get fooled by " Barkers " ta buy such items . Get yer coins from a dealer , pay less and have better coins . Thank you , again . Tom Daytona Beach ,FL . 3, July 2024 .
It's just sad that a lot of people don't really do their due diligence when they look into precious metals. They just have some kind of retirement saved up and they decide to buy some pretty coins without doing absolutely no research. I would bet a lot of these people don't even know what spot price is. They see these TV commercials about coins and they just buy. and then they get scammed by some of these monthly subscriptions for stupid coins etc. They would've just put their money in generic 90% or generic silver and gold rounds, they would've did much much better.
Beautiful specimens but waaaaay over priced. Somebody is paying for the box and not the coin. I've been guilty of doing that myself once or twice. Call me crazy but I've made my own homemade type set album just in case anything catches my eye, even though I already have one or two of the same ones.
Daniel always says that you need to do your homework.
It's sad though some people don't know any better. Hopefully someone that doesn't know any better will know in the future after watching Coin Help U. As always I appreciate you Daniel.
Great video dan have a great day. 👍🙏✌️🇺🇲
The peace dollar set and box was cool everything I wouldn’t touch
Regardless it’s a beautiful collection with the arrangement and the nice boxes/storage. He probably enjoyed collecting as much as we do.
It was his money and now others will use some of these to complete their sets.
Those fancy boxes are maybe worth more than the coins that are in them.
In some cases they are.
As usual great content
Buy loose silver halves or Morgan's from a melt or coin shop. All this stuff is based on presentation. People pay for that garbage, not realizing they are only paying for the fluff.
Looks like there's going to be a MASSIVE sale on fancy, useless, worthless, display boxes at Portsmouth Coin Shop.....
Yep! lol
If I was a dealer, I would hate to see collections like that come in.
if i have box that nice for morgans i want it full of cc and o mints lol i know that never happen , nuts what they charge , i dont see how they charge what they do they could at least selluncleaned coins . i think they target the unexpected ,not like home shopping but close
Just having fun 🎉
All that stuff is a ripoff. Unfortunately not everyone knows it. It also takes up a ton of space with all those huge boxes. The love of coins doesn’t always mean knowledge about coins.
The worse thing is to collect high premium encapsulated Bullion Coins MS69 MS70. Better to buy some nuministics coins at least they are uncommon and unusual and rather beautiful.
and never be minted again.
it looks like someone with unlimited funds and lack of numismatic knowledge owned that coin collection, when fancy boxes are worth more than the coins inside, ain't that right.
That's how they take advantage of people.
boxes have value coins not so much.
Damnit dude, I so worrie, that my kids are not going to pay attention to what I taught them
hi I am interested in finding out what was the ratios involved like say the father may have spent around 100 the son was expecting to get say 5 but you paid like 6 or 10...
Alot of wasted money. They loved Bradford
I just joined today btw, and I suppose Independence Day is a good day to join! Looking forward to being a part of your community
Welcome aboard! Thank you!!
Been seeing a LOT of adverts on bookface for these "coin companies". It's absolutely ridiculous how much these places want for common, very circulated constitutional silver coinage. It hurts knowing people get wrapped up with pretty boxes and flashy holders. I do have one of the 2000 painted eagles, but only one, and it's a display piece in my living room.
Thank you Daniel. You pointed out some great things. To me, it is sad if the collector thinks they are building an inheritance for their family buying things like this. On the other hand if they are collecting for themselves and like what they buy then I guess it's ok. I KNOW it is difficult to tell their loved ones that the money that was spent isn't what it's worth. Overall, the coins are just not worth what they bought them for. I've seen these boxes sell at my local auction...full of polished cleaned coins. I've seen them auction off at amazing prices too. Just sad. Just plain sad.
Most all people spend some money on ZERO return endeavors, hobbies, research, etc…
All coins are valid, unlike most hobbies…🤷
I really feel bad for these folks...and it truly infuriates me against the late-night ripoff artists ( I won't mention Mike "Sleazack" ) !!! I have bought 3 or 4 silver coins in my life that I WANTED to collect because I LIKED them...my "Moth man" and Penn State football silver rounds comes to mind...BUT...I KNEW I was paying a healthy premium for them because they were special to me and my wife. It is TRAGIC to see a collection this large that you KNOW the monetary value will NEVER be recovered in their lifetime. SHAME on these ripoff companies that know exactly what they are doing to people !!! Yes , people should do their research , BUT , i can NOT TOLERATE WILLFUL CROOKS !!!!
Nice informative vid. But, kinda my worst nightmare 🤔
Oh good heavens that's a huge rip off because you're paying more for the boxes or packaging and truly would be better to buy just the coins.
I’m already sad when I saw the “slabs”.
The fact people will take advantage of uneducated or elderly folk like this is just evil. That’s well over 50% robbing of value.
the kennedy set was the only good buy imo
I really think if a person has a real valuable collection, it would be smart to place it in a trust and before handing it down to a loved one ..make it mandatory in the trust that a numismatics class has to be completed before that loved one is given something that really knows the value of the collection....esp if it is a rare foreign collection
You can’t bully your family into wanting or educating themselves about coins, that is your job while you’re alive. Once you’re gone, that’s bad enough, then out stipulations in their inheritance while grieving is a sad way to do it. You can’t control people. You educate and hope it sticks, when you’re gone, that’s it.
My uncle billy bought off of tv a lot and I tried as hard as I could to explain to him he was buying non collectibles that were not worth money as he thought....one day he tried to sell them to a pawn shop....Uncle Billy said I should have listened to you.
Buyer beware.
Just because you put a turd in case does not make it a museum piece. Sorry for being crude. I would suggest buy good coins with great dates and build your own cases with your kids or grand kids. I collected starting in grade school. Had a good collection and sold them to pay for my last year of college. I wish I still had the collection but I made a choice. Everyone should see the collection at the Smithsonian. I spent many hours there.
Sounds like it's your collection in the Smithsonian.
Sad and way to common that this happens,anyway they must have had a rather big safe.
I don't know about the fireplace😮
Pretty boxes......smh.
Good evening Daniel from Maryland. How are you Daniel? I like the boxes .
thousands of dollars down the toilet do to not learning enough before investment.... what a shame