These Two Major Issues Could Destroy The Coin Collecting Hobby! Coin apps like coin snap give incorrect and misleading information and should not be used. People who are selling damaged coin as mint errors or no mint mark coins are a huge issue as well. AI created videos and coin apps are one of the worst things you can watch or have on your phone. If you're going to sell cool and interesting damaged coins then you need to know that and tell the seller the same thing. Truth and honesty is all that is needed in this hobby, not telling people your damaged coins are rare mint errors. Buy Coins From Us: portsmouthcoinshop.com/ CoinHelpu Community coinauctionshelp.com/welcome-to-coinhelpu-community/ Coin Value App: coinauctionshelp.com/coincollectingapps/ Mint Error App: errorcoins.coinauctionshelp.com/wordpress/ Join this channel to get access to perks: ruclips.net/channel/UCIYtW3byS0u7rBmXg71pXQwjoin
One idea to help is creating videos that help people notice the difference between mint errors and damage. I am very new to the hobby and it would help me and likely many other people. If people know what to look for they might be able to spot the misinformation and disinformation. Thank you for the video, good to know. I have seen people on ebay selling coins for (400 dollars) and they are normal. one question about coins. do people buy coins based on grade and age? (or at least general grade. not a number. but you could say "oh, this looks to be uncirculated" or something. I have a few 60 year old coins that are in great condition and am curious if they are more than face value. thanks again. have a good day! :)
@@SummitDragon I have a non mint error playlist with several videos that do just that. Problem is, they don’t get enough views and reach enough people. Thanks
I have only been learning for about 3 years, I want to say that upfront. As far as I can tell, when it comes to grade,age, and value, it all depends on the coin. There are other considerations as well. Rarity, popularity. But get grading book or look at a good website. I don't know how much I want to say on this site. Watch these videos that Daniel posts because he tells it straight. And look at alot of coins
I think a larger threat to numismatics as a hobby is the move to a cashless economy. If kids are not exposed to coins in everyday life, coins become a curiosity like the rotary phone or 45 records.
People collect coins that are not being made anymore over the coins that are being minted now. So it will not hurt the hobby much at all, as a matter of fact, if the mint stopped making coins, coin collecting and hoarding would become more popular and values would increase. Cashless will not hurt anything.
Daniel you've hit the nail on the head, most people are too lazy to do their own research and believe the first drivel they find. I follow two maybe three guys regarding coins, you get some guys making wild statements regarding prices, play music, show the coin with zero explanation. Then you go and find that that specific coin was minted by the billions. My rule of thumb is that if the host does not show his face, send him on his way. Thank you for a superb channel.
Counterfeits are actually the real ones and the real ones are the counterfeits, its getting very misleading and deceptive...stay sharp and be informed..
There are always going to be counterfeits and yes I’ve bought some but it’s nothing compared to what this guy is talking about- these apps are terrible.
My buddy had a bicycle shop in a small town in the US. He , without a doubt is one of the most knowledgeable people I have ever known when it comes to bicycles. Many years of having to deal with the public made him a rather grumpy guy. Some customers did know what they were talking about but most did not. It's tuff to reason with someone who thinks that eBay is a real price guide and those are the type who know nothing about looking up the completed listings. I even question the completed listings as many seem to defy logic. Look is there nothing to preventing someone from picking up a mangled penny in the street and listing it on eBay as a mint error for thousands of dollars. It all comes down to the consumer. It's up to you to do your own research and decide on what sellers you can trust. Don't blame your ignorance on a local long time shop owner who has always tried to educate their customers. Guess this a long way of saying that you can't fix stupid no matter how hard you try.
I am 70 yeats old ad have been collecting for over 60 years. I even worked summers at my local coin shop in high school. Our hobby has always had this bad element, but the internet has made it explode! There are more victims of bad internet information than ever before and it is still growing. Not just coins... everything. Medical advice and politics too. Be smart people and research what you read. If it's crazy wild or an answer is too simple for a problem, it most likely is baloney. Don't take the bait like a fish. Be smart, learn your selected interest well and be no ones fool. Daniel here is a prime example. Stay smart everyone!
Very to-the-point and information-packed video, Daniel! As a collector/trader and part-time "vest pocket dealer", I find myself every week trying to gently educate people showing me damaged or overvalued common pocket change that they believe will make them rich. I don't always leave those discussions with the other party happy - but as least I have tried. Unfortunately, a large part of my weekend business is identifying fake silver and gold coins (at no charge). I don't understand why our customs operations don't crack down harder on their import!
Yeah, I hate those coin apps and those stupid youtube shorts saying a junk coin is worth thousands!! All that stuff is just a scam, so I hope people watch your videos, Daniel. Watch, learn and wake up! Thanks for sharing! 👍👍
People have been ripped off for years with coin scams, but the craft and hobby still exists. This is an iteration on that and we have too many alert people to this to make it end with yet another scam. The end is not here, and keep that in mind with anything in life! Thank you Daniel for keeping the community alert!
I thank you for good information. I am confused on one thing I see a lot of pennies selling for a millions of dollars on the phone. But the only penny I have seen sold for over a million is one 1943 copper Lincoln cent and it was all over the news why aren’t these going for 1.5 million on the news thank you
I think a lot of new people to numismatics are like me. we just stumbled upon it. If I had anyone show me I would probably have a trusted source of info. but I bought the books. the first thing that became clear after hundreds of hours of looking through a loupe is that the chances of me finding that anyone would want to buy in my change, and I had 47 lbs of it, was as likely as me winning power all. that book was from a respected member of the community. if respected people are leading people by the nose, how was I to decide who was trustworthy. so if you can’t find nice coins in your change, you buy. at that point, you are on your own
Daniel, just do you... I can personally vouch for your integrity, when I came down I was offered a fair price and I appreciate what you do for the community of collectors!!
Daniel thank you for another informative video/ episode. I was fortunate to have a family member to teach me and help me along my way of coin collecting. But the learning part of this is never ending and if people don’t want to educate themselves I feel they should not be involved with this hobby.
Great video Dan! I get so sick of seeing these misleading AI videos showing up in my feed in RUclips. These videos/apps are typically very mis-informed when it comes to realistic market values and scarcity. They try to create markets out of thin air with price hyping and other misleading info. And, most of these nefarious Ebay sellers seem to be with feedback scores between 0-5. So....Thank you for getting this information out! The absolute best we can do with this dilemma is to share/create more published articles or videos such as this one. Have a great day Dan.
My first hint is that the seller has ZERO rating, or 100% until you see what he/she sold. You are on the Bay in the coins section, you see a guy that just joined last month and has 100% rating and when you check out his sales NONE of them are for coins. He sold stereo stuff, baseball cards, clothespins, etc. So in reality, he has a zero rating for his coin sales. Yeah, especially the rookies who use the wrong terminology like "a misprint from the Mint". Cheers, Bob
One of the coins he scrolled past was an Ike dollar listed for a million dollars. Doesn’t eBay charge the seller partially on list price? If someone pays a million for a FV coin on eBay, I guess they got what they deserved?
You are an honest man and obviously a good dealer - I hope people listen to your message - well said about people. s expectations - unfortunately caused by plastic money and the decline of metal currency
Thank you Daniel for producing a quality video that educates coin collectors. I like what you did with briefly mentioning coin apps that you personally trust because you’ve used them before, not to discredit other apps that you don’t have an opinion about yet. God Bless!
I recently joined a few Facebook groups, mostly penny error and just Pennie’s in general and OH MY GOD, everyone thinks everything is an error or worth thousands of dollars! It’s ridiculous
I joined a coin club when i was about eight years old. A very nice man who bless his heart has gone to heaven to continue being one of the most experienced numismatist i have ever known.I was very lucky to have him as a mentor. Not only was he a great coin collector he was honest as the day is long. You are right about the collecting being turned into a circus and not as fun as it used to be because of a few greedy criminals who take advantage of beginners. Buyer beware people and have fun with this time honored hobby.
Your a good honest person and I know that there's alot of people that feel the same way I do, when I say thank you for all the knowledge that you put out there on the hobby. We appreciate all of it. KEEP UP THE GREAT VIDEOS.
Daniel, education is key. Most people you come in contact with are seeing and hearing via the internet. I have learned a great deal from your videos that encouraged me to do the research. Saving me some heartache. I went to a coin show some time back, and a dealer had various legitimate errors and various fakes. He allowed the public to inspect them and ask if they knew which were real and which were fake. If you could explain your answer and got it correct he'd offer a deal on another coin. If kids or newbies participated he'd give them a "starter" coin worth between $5-$10. That hands-on education is great to have at shows. I haven't seen it quite like that since. Thanks for what you do for the coin community.
The best way to understand the value is to learn. Period. I go to my local LCS and ask questions. The best part is they know my interests and sometimes I get a good deal because I build a relationship.
Great info today. Thanks. People who do not do the Real research like the red book, gray sheets or even your local coin shops, these folks need to understand the hobbie and be honest about what they do and how they act. Respect for the hobbie and the people who really know coins are the ones who will still keep the hobby alive!
1) I'd put up a large sign saying "VALUATIONS FROM COIN APPS NOT WELCOME" to these random needy people (as they won't listen to reason anyway). 2) As an admin of several coin groups myself, I'd say if a platform or group does not actively weed out and expose scammers, then it is doomed to go down the drain in coin collecting (or any collecting hobby in general).
Daniel, one thing you could do in your own shop is to make a new rule, and post signage something to the effect of "We no longer purchase uncertified Mint error coins". You could make the rule temporary, or permanent. This would save you a lot of headache explaining to people that walk in off the street with damaged pocket change that their "Mint error" is just post Mint damage. Just a thought... Thank you for all you do in the numismatic community!
I love your video!!!! You're vary honest!!! Ive bought silver on ebay saying the coin is BU. when i get it its tarnished or milk spots. I accept it and leave them bad feed back!!!!
I'm new beginner just start to check out all my saving coins to find the value of the coins want to say Thank you for stand up and telling the truth. I'm really agree with you. Really appreciate it.
Thank you Daniel , you r a gentleman and a scholar. I miss the old days , technology is destroying the world by people who take advantage of it .knowledge is always 🤴 king
You are right on here. I’ve owned a coin store for over 22 years and I get these people calling and coming in with these types of coins everyday- and you’re right I am honest with them and these people get upset and leave negative reviews, and all because I am honest - this life of coins I’ve lived 52 years (I’m now 59) is making what I love unpleasant.
Super Blessed ThankU2U! I'm grateful for the strength of your Integrity & dedication to educate & inform us. Don't stop, we need you, your voice & your Expertise! Grateful Fan MJ
Well said. Honest as ever Daniel. But buyers need to do their homework as well! I’m in the UK and collect mainly US and British coins, but before I commit to a purchase I triple/quadruple check what I’m buying . The internet is a great tool, but it shouldn’t be your only resource. There are some great coin publications out there that you can cross reference…but be suspicious first, and check out what you are buying!
There are apps where you can buy or sell coins. The problem with one of them is the seller descriptions. People who have very little knowledge of what a problem coin is versus a mint error. I do not buy mint error coins unless they are holstered by a grading company I'm familiar with. I don't buy from people who list pocket change coins as rare. Even if they have graded coins. I don't want to deal with a dishonest person who doesn't know what they're doing and saves me the trouble of trying to get my money back on a bad buy. Daniel has always taken care of business and is also a good teacher.
I think Ive watch 20 of his videos, Nearly all are spot on! And I call myself a 50 year Numistimatist. I joined and quit 7 Facebook groups filled with people who found some cent in their junk draw or couch, and think they are worth $$. They do no research. These groups are also controled by the admin...............mostly dealers. I would like to see more about buying "Raw" coins (if you are experanced in grading) Do not buy a raw coin on line where the seller only shows you 2 straight on photos. Cleaning and damage can't always be see on a straignt on shot.
Thank you Daniel. I am somewhat relieved as I do not use apps. I rely solely upon Grey sheet lists, the major grading companies, and reputable dealers such as yourself. I am even skeptical with some of the on-line auction companies (with the exception of Heritage). While several guarantee authenticity, they often seem to inflate grade and value.
Whatnot is very scary. I see naive people throwing away their hard earned money on items that are worth 10% what they are paying for it. Some very shady sellers on the platform.
You mentioned the stuff sold on Ebay and Esty, I bought a coin on Esty to prove a point to a friend. A 1955 DDO Lincoln cent, the most famous error coin out there. The coin was a dusty rose color, rim was silver and no VDB. 😂😮 I can't believe people think this crap is genuine. 🤯🤦♂️👎
Love your show I’m new too the hobby I watch ur show daily I was using the coin snap app you are right very misleading and fishy!!keep up the great work brotha god bless
We need more people like yourself ,,, your concern about other people is very much appreciated and respected ,,, obviously speaking from myself here ,,Thank you ,,, the platforms should be clamping down on people obviously ripping people off ,,, that is extremely bad ,, a coin worth 2 bucks listed for 500-3000 bucks hoping to catch someone innocent ,??? How is that allowedhappen on public platforms ,,, its a disaster
I agree if left unchecked the ones who try saying they're our betters will cut off all ways for the common person to elevate themselves out of the borderline poverty trap we call society.. I hate scammers dude they are not good people.
Great video bc it provides insight on damaged coins versus mint error coins, which the novice may not decipher. The hobby is still fun for me and I’m transferring my knowledge to my teenage boys. Slowly they are grasping the fundamentals. I stack and am also a numismatic. Keep up the great vids.
i am Indian but I'm USA all the way and thank you Mr. Daniel You couldn't be more correct thank you for explaining the situation without coming off so biass. Kansas City coins coinhelpu coin usa and Coin$ale, and a few more others are actually here to help and provide a free service at free of charge amd direct are audiences in the right directions..
The problem isn't just the videos and apps that mislead people, it's also the fact that people believe what they want to hear, not what they need to hear. There are plenty of youtubers that spread mis info about coins that make it seem like there value is far greater than it is, even though the error is quite common and more importantly, not likely to get a designation by PCGS or NGC. Those producers should be called out in their comment sections for misleading new collectors, they are a blight on the hobby, just as the TV dealers are.
I had a coin shop back in the 1990s. People kept bringing in silver dollars thinking they were worth a fortune. Rather than just tell them the truth, I kept a box of silver dollars behind my counter and just pulled them out and offered them to the said person for a price per coin that was actually less than I was selling them for. These people never bought one, but after seeing all the ones I had, they sold me theirs.
Daniel, great video, thank you for all you do for the hobby. I’ve been a collector for many years I wish I lived closer to you. I’m positive that we could be good friends. Keep up the great work 👍 Looking forward to your next videos.
Thank you so much for your information I subscribe to you because I found you very informative and genuine again thank you so much for your information information. Well appreciate it.
This seems to happen when the economy is bad. People get desperate because they are struggling and looking for a quick fix. "A fool and their money are soon parted" is a truism that's been around for 500 years. I think what you're doing to spread the word is the best way to deal it because we can't control what other people do (that's why I love Stoicism because it taught me to focus on what I can control). Appreciate you so much Daniel.
Hay Daniel, What about having a site where dealers can post coins considered not to be error coins in the hobby to help eliminate this growing problem. Thanks for the insigts
Dan keep making these videos they are great & needed. We have to out these scammers one at a time. I 💯 agree with everything you say here. Great work 👏
There very few coins shop/dealers here in Alaska. This makes it really tough. My mother collected for 85 years and taught me quite a lot, but there's so much to learn....it's scary.
to this day i avoid error coins, however cool some of them are, too much risk. thank you for taking the time to walk us through this facet of collecting
The main topic that grinds my gears is that AND those who post all the time on FB "IS THIS AN ERROR." So many times I just want to reply "LEARN THE MINTING PROCESS." but I hold my fingers and just scroll past.
You can't let that get to you. In my experience just taking the time to say no and add a link to somewhere educational (useless doubling on DD or something) benefits both the questions and the required answers. I'd say 70% are legitimately ignorant and wanting real direction and include genuine curiosity.
I've had plenty complain that I just posted a link or a video, but the information was much better than I could explain in a few words, plus I don't have the time to explain in detail. So I give them a video where I already did it.
Looking for input here: im new to stacking, been sticking to junk silver primarily, but ive bought a few loose silver eagles from my LCS. Do you think buying loose silver eagles with minor defects or scratches is a safe play for stacking? Im trying to avoid the graded stuff and premiums... my only fear would be counterfeits being sold loose to get rid of them? I trust my LCS, but i have been to a few coin shows and have wondered this. Thanks for any responses.
Although you are correct that these are problems, there are far worse ones. I think counterfeit coins, usually from China, being sold online and the lack of affordable historically interesting coins discourage beginners. Also, the obsession with slabbed coins and the huge differences in values for one or two grading points are insane. Another problems are the ripoff artists that flourish on late night TV, at flea markets, eBay, peddler malls, and other venues. People don’t know enough to begin, then give up after being cheated.
There's nothing worse than these phone apps and error listings they're far more numerous and intrusive than counterfeit coins. I've made plenty of videos and have an entire playlist dedicated to counterfeit coin ID and information. I see them all the time as well, but not as much as I see damaged coins and people using these phone apps.
Perhaps a problem is that so many (I hope they are younger collectors, not exerienced ones.) Is that so many are buying and try I g to slab modern coins as PCGS ms66, 67, 68 etc. What fun is it to lust over stuff you can find in your pocket. There is no knowledge or expertize in that.
Yes Sir, I have been looking at those apps and some of them are using the same grading scale and I try a coin with both apps, the results comes different. Thank you for your input about this situation.
i enjoy your insight & trying to cherry pick i know i have done well but i need to send a few for discovery double face penny & two eye two beak quarter & wonder why the double ear on most the 60's quarter
i think you have three issue the new computer voice videos they so scammers blowing up value trying to get dumb people to be leave the 60k 140k for no mint marks one guy trying to say there our many coins on light blanks & wont give the weight of what to look for is there not a youtube truth finder or remover to pull bad & or scamming video love the way they say 1500 its like 1 500 one cent
Thank you Daniel! It's nice to have an honest voice to cut through the crap. I'm not a collector (...yet. The rabbit hole is widening), but I have been going through my coin jar (hundreds of coins), and I am trying so hard to honestly figure out if there is anything worth something. I look on PCGS, your videos, other videos and books, weigh them and squint at them thru a 60x microscope just wanting to know if there is something there, and I get so confused because there is just soo much stuff out there. I pulled out about 100 coins that I think are interesting or have some wacky looking potential damage, and I'd like to have a coin shop look at them, but I'm kind of scared to. More than any money, I'd just like to know if this a DDO or a bump or if a scrape is mint damage or not, etc. However, I don't know if what is going on with the apps and internet auctions, if there is a coin shop that would be willing to make an appointment with me just to go thru it.
Coin shops don't like to look at damaged coins and most don't specialize in doubled dies. So use our coinhelpu community or join CONECA and use the attributers there.
I use a different app altogether: Legitimate knowledge through experience coupled with common sense. The best way to gain experience is by interfacing with knowledgeable coin dealers, and by attending coin shows as often as possible.
Hi Dan, I have been following and really listening to you, my question is what is the actual purpose of a coin shop?? Are there not really any coins of a greater value other than their own actual worth?? If so what would make it worth a few dollars more, since errors are basic honest mistakes?? You are a very honest man, I really respect that. I can not help but wonder what is the purpose of a coin store and all these fake substantial amount of money for coins of certain ages and errors that will never be graded high enough, or worth to much more than their own value. Why should people look for {example} a 1955 D penny or a 1990 dime for false and fake hopes?. That is really a heart breaker to a real elderly person who collects coins, because that is a hobby and hope for big bucks to travel or go on cruises?!
Numismatics is a hobby and people often die and leave coins to family and friends, or some, decide not to collect anymore. A coin shop is a place to sell those collections. It is also a place to buy coins and sets for your collection, and some shops sell bullion gold and silver, and jeweler and watches, and many other things. It is a specialized numismatic store for buyers and sellers.
Another great piece of information and interesting topics of what has been going on in the coins world. The coin club that I belong to all watch your videos, and they make a good subject to talk about. We try to get the information out to everyone we know by sharing your videos with them and helping them to understand what the messages are about. We try to answer all of theirs questions and show them the coins apps that we find helpful and let them know which books to buy or someone will loan them our books to help understand the coin world. The group also informed the various coins group that has dishonest sellers that are on their website that are scam their customers. Thanks again, Daniel, for all you do for the hobby and helping to educate everyone about what is going on in the hobby, and have a nice day.
I stay away from graded coins & collectibles with company grades. I always buy Raw Pre-33 Gold or Mexico Gold Pesos & always make sure my Coin Dealer Test everything before I purchase Silver or Gold. I purchase Pre-33 Gold at low premiums & Mexico Gold Pesos at $50.00 over spot for my Gold. I have learn to walk away from high premiums don’t care how beautiful they look. Rather buy more Silver weight for my Buck & low premiums. I have Two awesome Coin Dealers in my Area & honest business coin dealers.
There’s a site that has over a million subscribers that puts out tons of these errors talking about errors you can barely see without a microscope that are selling on eBay
I started stacking in 2008 and have until recently purchased solely from brokers who order from legitimate mints. Recently, I have attended a few local coin shows and have been successful buying silver bars, 90% silver, Morgan Dollars and Peace Dollars. I can tell with relative ease if these items are genuine. I have not purchased any graded coins for two reasons: 1) My mind explodes because of the huge number of grades and prices. 2) There are also graded counterfeits, and I am not expert enough to identify them. For me, stacking circulated metals can be fun as there is a wide variety of coins, bars, etc. to choose from. Graded coins are just not for me.
I've seen some of these people, expecially on ebay, selling a damaged coin as a die error. I look at them right away and see its damage. Scratches are not die errors.
You're not kidding! You can find something on the internet for every year penny being worth thousands. It's sickening! Even Ebay sellers are trying to fool people and, I'm sure in some cases. people have been taken!
I can see where these people get confused they have a lot of things online. There was times I thought I had a winner and come to find out just a minor error. So I started using books. Also listening to Daniel here. He puts it out there where you can understand it. Might not be what you want to hear. But it'll be correct. Thanks for putting it out there!
These Two Major Issues Could Destroy The Coin Collecting Hobby! Coin apps like coin snap give incorrect and misleading information and should not be used. People who are selling damaged coin as mint errors or no mint mark coins are a huge issue as well.
AI created videos and coin apps are one of the worst things you can watch or have on your phone.
If you're going to sell cool and interesting damaged coins then you need to know that and tell the seller the same thing. Truth and honesty is all that is needed in this hobby, not telling people your damaged coins are rare mint errors.
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I also believe the scammers that sell fake silver and gold coins are destroying the hobby as well.
One idea to help is creating videos that help people notice the difference between mint errors and damage. I am very new to the hobby and it would help me and likely many other people. If people know what to look for they might be able to spot the misinformation and disinformation.
Thank you for the video, good to know. I have seen people on ebay selling coins for (400 dollars) and they are normal.
one question about coins. do people buy coins based on grade and age? (or at least general grade. not a number. but you could say "oh, this looks to be uncirculated" or something. I have a few 60 year old coins that are in great condition and am curious if they are more than face value.
thanks again.
have a good day! :)
@@SummitDragon I have a non mint error playlist with several videos that do just that. Problem is, they don’t get enough views and reach enough people. Thanks
@@CoinHELPu I check those videos out. thanks. :)
I have only been learning for about 3 years, I want to say that upfront. As far as I can tell, when it comes to grade,age, and value, it all depends on the coin. There are other considerations as well. Rarity, popularity. But get grading book or look at a good website. I don't know how much I want to say on this site. Watch these videos that Daniel posts because he tells it straight. And look at alot of coins
I think a larger threat to numismatics as a hobby is the move to a cashless economy. If kids are not exposed to coins in everyday life, coins become a curiosity like the rotary phone or 45 records.
Agreed. And the constant flow of counterfeit coins from China is bad also.
new coins are not interesting anyways
Love this comment and thought! Unfortunately, this is looking as if that is exactly what is going to happen.
Get your point. But 45 records are valuable, and have had a comeback.
People collect coins that are not being made anymore over the coins that are being minted now. So it will not hurt the hobby much at all, as a matter of fact, if the mint stopped making coins, coin collecting and hoarding would become more popular and values would increase. Cashless will not hurt anything.
Daniel you've hit the nail on the head, most people are too lazy to do their own research and believe the first drivel they find. I follow two maybe three guys regarding coins, you get some guys making wild statements regarding prices, play music, show the coin with zero explanation. Then you go and find that that specific coin was minted by the billions. My rule of thumb is that if the host does not show his face, send him on his way. Thank you for a superb channel.
I know you've done it before but I feel the biggest threat to our hobby is the counterfeits out there.
It's not, this video highlights the most often issues in this hobby, counterfeits would be third to these.
@@CoinHELPu That's interesting to know thanks.
Counterfeits are actually the real ones and the real ones are the counterfeits, its getting very misleading and deceptive...stay sharp and be informed..
There are always going to be counterfeits and yes I’ve bought some but it’s nothing compared to what this guy is talking about- these apps are terrible.
I have been watching for years. Thanks for the wealth of information and entertainment! A true blessing for the hobby.
It’s no wonder so many dealers become grumpy old men after putting up with this crap for decades ☹️
My buddy had a bicycle shop in a small town in the US. He , without a doubt is one of the most knowledgeable people I have ever known when it comes to bicycles. Many years of having to deal with the public made him a rather grumpy guy. Some customers did know what they were talking about but most did not.
It's tuff to reason with someone who thinks that eBay is a real price guide and those are the type who know nothing about looking up the completed listings. I even question the completed listings as many seem to defy logic. Look is there nothing to preventing someone from picking up a mangled penny in the street and listing it on eBay as a mint error for thousands of dollars. It all comes down to the consumer. It's up to you to do your own research and decide on what sellers you can trust. Don't blame your ignorance on a local long time shop owner who has always tried to educate their customers. Guess this a long way of saying that you can't fix stupid no matter how hard you try.
Dealers use to say, "Sell it to the book." Now they say, "Sell it to the app."
I am 70 yeats old ad have been collecting for over 60 years. I even worked summers at my local coin shop in high school. Our hobby has always had this bad element, but the internet has made it explode! There are more victims of bad internet information than ever before and it is still growing. Not just coins... everything. Medical advice and politics too. Be smart people and research what you read. If it's crazy wild or an answer is too simple for a problem, it most likely is baloney. Don't take the bait like a fish. Be smart, learn your selected interest well and be no ones fool. Daniel here is a prime example. Stay smart everyone!
Daniel, great info you put out, by chance, what's value for 1982 small date coin, it's about ms65?
You need to teach yourself how to find this out for yourself. It's simple and fun to research it.
When you and I were young those Morgan’s were still circulating. Pity that as kids we didn’t have disposable income. 😂
Just found your channel and subscribed. Definitely appreciate your information.
Very to-the-point and information-packed video, Daniel! As a collector/trader and part-time "vest pocket dealer", I find myself every week trying to gently educate people showing me damaged or overvalued common pocket change that they believe will make them rich. I don't always leave those discussions with the other party happy - but as least I have tried. Unfortunately, a large part of my weekend business is identifying fake silver and gold coins (at no charge). I don't understand why our customs operations don't crack down harder on their import!
Yeah, I hate those coin apps and those stupid youtube shorts saying a junk coin is worth thousands!! All that stuff is just a scam, so I hope people watch your videos, Daniel. Watch, learn and wake up! Thanks for sharing! 👍👍
People have been ripped off for years with coin scams, but the craft and hobby still exists. This is an iteration on that and we have too many alert people to this to make it end with yet another scam. The end is not here, and keep that in mind with anything in life! Thank you Daniel for keeping the community alert!
I thank you for good information. I am confused on one thing I see a lot of pennies selling for a millions of dollars on the phone. But the only penny I have seen sold for over a million is one 1943 copper Lincoln cent and it was all over the news why aren’t these going for 1.5 million on the news thank you
@@SteveBradshaw-e7l Because it's not real.
I think a lot of new people to numismatics are like me. we just stumbled upon it. If I had anyone show me I would probably have a trusted source of info. but I bought the books. the first thing that became clear after hundreds of hours of looking through a loupe is that the chances of me finding that anyone would want to buy in my change, and I had 47 lbs of it, was as likely as me winning power all. that book was from a respected member of the community. if respected people are leading people by the nose, how was I to decide who was trustworthy. so if you can’t find nice coins in your change, you buy. at that point, you are on your own
@@SteveBradshaw-e7l Because that information is false.
Daniel, just do you... I can personally vouch for your integrity, when I came down I was offered a fair price and I appreciate what you do for the community of collectors!!
Thank you for this video. It was long overdue. So much deceit in the hobby these days.
Daniel thank you for another informative video/ episode. I was fortunate to have a family member to teach me and help me along my way of coin collecting. But the learning part of this is never ending and if people don’t want to educate themselves I feel they should not be involved with this hobby.
Great video Dan! I get so sick of seeing these misleading AI videos showing up in my feed in RUclips. These videos/apps are typically very mis-informed when it comes to realistic market values and scarcity. They try to create markets out of thin air with price hyping and other misleading info. And, most of these nefarious Ebay sellers seem to be with feedback scores between 0-5. So....Thank you for getting this information out! The absolute best we can do with this dilemma is to share/create more published articles or videos such as this one. Have a great day Dan.
I’ve seen on eBay where folks have outrageous prices for regular coins and it drives me nuts going through the eBay pages.
Same here. Just last night I was surfing ebay and thought the same.
Worst part is I get notifications for a coin selling for $1500 and it’s only worth face value
My first hint is that the seller has ZERO rating, or 100% until you see what he/she sold. You are on the Bay in the coins section, you see a guy that just joined last month and has 100% rating and when you check out his sales NONE of them are for coins. He sold stereo stuff, baseball cards, clothespins, etc. So in reality, he has a zero rating for his coin sales. Yeah, especially the rookies who use the wrong terminology like "a misprint from the Mint". Cheers, Bob
One of the coins he scrolled past was an Ike dollar listed for a million dollars. Doesn’t eBay charge the seller partially on list price? If someone pays a million for a FV coin on eBay, I guess they got what they deserved?
You are an honest man and obviously a good dealer - I hope people listen to your message - well said about people. s expectations - unfortunately caused by plastic money and the decline of metal currency
You're a good, honest guy. Your business in a small town must be tough in many ways.
Thank you, Daniel. I'm not a collector, but I enjoy your informative videos.
Thank you Daniel for producing a quality video that educates coin collectors. I like what you did with briefly mentioning coin apps that you personally trust because you’ve used them before, not to discredit other apps that you don’t have an opinion about yet. God Bless!
I recently joined a few Facebook groups, mostly penny error and just Pennie’s in general and OH MY GOD, everyone thinks everything is an error or worth thousands of dollars! It’s ridiculous
I joined a coin club when i was about eight years old. A very nice man who bless his heart has gone to heaven to continue being one of the most experienced numismatist i have ever known.I was very lucky to have him as a mentor. Not only was he a great coin collector he was honest as the day is long. You are right about the collecting being turned into a circus and not as fun as it used to be because of a few greedy criminals who take advantage of beginners. Buyer beware people and have fun with this time honored hobby.
Your a good honest person and I know that there's alot of people that feel the same way I do, when I say thank you for all the knowledge that you put out there on the hobby. We appreciate all of it. KEEP UP THE GREAT VIDEOS.
I appreciate that
Daniel, education is key. Most people you come in contact with are seeing and hearing via the internet. I have learned a great deal from your videos that encouraged me to do the research. Saving me some heartache. I went to a coin show some time back, and a dealer had various legitimate errors and various fakes. He allowed the public to inspect them and ask if they knew which were real and which were fake. If you could explain your answer and got it correct he'd offer a deal on another coin. If kids or newbies participated he'd give them a "starter" coin worth between $5-$10. That hands-on education is great to have at shows. I haven't seen it quite like that since. Thanks for what you do for the coin community.
The best way to understand the value is to learn. Period. I go to my local LCS and ask questions. The best part is they know my interests and sometimes I get a good deal because I build a relationship.
Great info today. Thanks. People who do not do the Real research like the red book, gray sheets or even your local coin shops, these folks need to understand the hobbie and be honest about what they do and how they act. Respect for the hobbie and the people who really know coins are the ones who will still keep the hobby alive!
1) I'd put up a large sign saying "VALUATIONS FROM COIN APPS NOT WELCOME" to these random needy people (as they won't listen to reason anyway).
2) As an admin of several coin groups myself, I'd say if a platform or group does not actively weed out and expose scammers, then it is doomed to go down the drain in coin collecting (or any collecting hobby in general).
Daniel, one thing you could do in your own shop is to make a new rule, and post signage something to the effect of "We no longer purchase uncertified Mint error coins". You could make the rule temporary, or permanent. This would save you a lot of headache explaining to people that walk in off the street with damaged pocket change that their "Mint error" is just post Mint damage. Just a thought... Thank you for all you do in the numismatic community!
It doesn't work, people don't read and most just call and expect you to listen to a description and tell them about it without seeing it.
I love your video!!!! You're vary honest!!! Ive bought silver on ebay saying the coin is BU. when i get it its tarnished or milk spots. I accept it and leave them bad feed back!!!!
Scammers have infiltrated everything --crazy world indeed --good advice thanks
I'm new beginner just start to check out all my saving coins to find the value of the coins want to say Thank you for stand up and telling the truth. I'm really agree with you. Really appreciate it.
Thank you Daniel , you r a gentleman and a scholar. I miss the old days , technology is destroying the world by people who take advantage of it .knowledge is always 🤴 king
You are right on here. I’ve owned a coin store for over 22 years and I get these people calling and coming in with these types of coins everyday- and you’re right I am honest with them and these people get upset and leave negative reviews, and all because I am honest - this life of coins I’ve lived 52 years (I’m now 59) is making what I love unpleasant.
Super Blessed ThankU2U! I'm grateful for the strength of your Integrity & dedication to educate & inform us. Don't stop, we need you, your voice & your Expertise! Grateful Fan MJ
Exactly “educate the masses”! Another great vid ❤
This is EXACTLY why I buy graded coins only!!!
Thank you and you are doing a grate job wish I were close to your store. I live in Alabama
Well said. Honest as ever Daniel. But buyers need to do their homework as well! I’m in the UK and collect mainly US and British coins, but before I commit to a purchase I triple/quadruple check what I’m buying . The internet is a great tool, but it shouldn’t be your only resource. There are some great coin publications out there that you can cross reference…but be suspicious first, and check out what you are buying!
There are apps where you can buy or sell coins. The problem with one of them is the seller descriptions. People who have very little knowledge of what a problem coin is versus a mint error. I do not buy mint error coins unless they are holstered by a grading company I'm familiar with. I don't buy from people who list pocket change coins as rare. Even if they have graded coins. I don't want to deal with a dishonest person who doesn't know what they're doing and saves me the trouble of trying to get my money back on a bad buy. Daniel has always taken care of business and is also a good teacher.
I think Ive watch 20 of his videos, Nearly all are spot on! And I call myself a 50 year Numistimatist. I joined and quit 7 Facebook groups filled with people who found some cent in their junk draw or couch, and think they are worth $$. They do no research. These groups are also controled by the admin...............mostly dealers. I would like to see more about buying "Raw" coins (if you are experanced in grading) Do not buy a raw coin on line where the seller only shows you 2 straight on photos. Cleaning and damage can't always be see on a straignt on shot.
Thank you Daniel. I am somewhat relieved as I do not use apps. I rely solely upon Grey sheet lists, the major grading companies, and reputable dealers such as yourself. I am even skeptical with some of the on-line auction companies (with the exception of Heritage). While several guarantee authenticity, they often seem to inflate grade and value.
Whatnot is very scary. I see naive people throwing away their hard earned money on items that are worth 10% what they are paying for it. Some very shady sellers on the platform.
@@greatdimitri1049 that is why I feel like the only way is study but still, it is hard to study without the coin at a certain point
You mentioned the stuff sold on Ebay and Esty, I bought a coin on Esty to prove a point to a friend. A 1955 DDO Lincoln cent, the most famous error coin out there. The coin was a dusty rose color, rim was silver and no VDB. 😂😮 I can't believe people think this crap is genuine. 🤯🤦♂️👎
Thank you. I appreciate you so much. Thank you sir. I’m from Montana. Am so glad I find you
Love your show I’m new too the hobby I watch ur show daily I was using the coin snap app you are right very misleading and fishy!!keep up the great work brotha god bless
We need more people like yourself ,,, your concern about other people is very much appreciated and respected ,,, obviously speaking from myself here ,,Thank you ,,, the platforms should be clamping down on people obviously ripping people off ,,, that is extremely bad ,, a coin worth 2 bucks listed for 500-3000 bucks hoping to catch someone innocent ,??? How is that allowedhappen on public platforms ,,, its a disaster
I agree if left unchecked the ones who try saying they're our betters will cut off all ways for the common person to elevate themselves out of the borderline poverty trap we call society.. I hate scammers dude they are not good people.
There are too many folks selling junk for big bucks; ive known dealer that every coin in his inventory was damaged in some way; depressingly sad!
Great video bc it provides insight on damaged coins versus mint error coins, which the novice may not decipher. The hobby is still fun for me and I’m transferring my knowledge to my teenage boys. Slowly they are grasping the fundamentals. I stack and am also a numismatic. Keep up the great vids.
Great video. I have the two coin apps that you showed on your last video on this subject
Well said Daniel. Thanks for sharing. 😎👍👍
i am Indian but I'm USA all the way and thank you Mr. Daniel You couldn't be more correct thank you for explaining the situation without coming off so biass. Kansas City coins coinhelpu coin usa and Coin$ale, and a few more others are actually here to help and provide a free service at free of charge amd direct are audiences in the right directions..
Daniel, thanks for your time and effort
The problem isn't just the videos and apps that mislead people, it's also the fact that people believe what they want to hear, not what they need to hear. There are plenty of youtubers that spread mis info about coins that make it seem like there value is far greater than it is, even though the error is quite common and more importantly, not likely to get a designation by PCGS or NGC. Those producers should be called out in their comment sections for misleading new collectors, they are a blight on the hobby, just as the TV dealers are.
I Appreciate Your Information, Praise God, we have people as yourself are not out here to scam us..🙏🕊
I had a coin shop back in the 1990s. People kept bringing in silver dollars thinking they were worth a fortune. Rather than just tell them the truth, I kept a box of silver dollars behind my counter and just pulled them out and offered them to the said person for a price per coin that was actually less than I was selling them for. These people never bought one, but after seeing all the ones I had, they sold me theirs.
I've done that as well.
I have a foreign coin app which has been spot on according to the coin, but I totally ignore the Priceline
I’m glad you are getting this information out there. It drives me crazy that that crap is being foisted on an uneducated public.
Educational, great work kept on making these video's for the coin collecting community wether newbies or old timers and all in between
Daniel,
great video, thank you for all you do for the hobby.
I’ve been a collector for many years
I wish I lived closer to you.
I’m positive that we could be good friends.
Keep up the great work 👍
Looking forward to your next videos.
Great video dan ..and you have a great day also...👍🙏🙏✌️🇺🇲🇺🇲
Thank you so much for your information I subscribe to you because I found you very informative and genuine again thank you so much for your information information. Well appreciate it.
This seems to happen when the economy is bad. People get desperate because they are struggling and looking for a quick fix. "A fool and their money are soon parted" is a truism that's been around for 500 years. I think what you're doing to spread the word is the best way to deal it because we can't control what other people do (that's why I love Stoicism because it taught me to focus on what I can control).
Appreciate you so much Daniel.
Excellent video. Thats why I mainly buy my coins from your shop. Always very informative
Much appreciated!
Just found your channel and subscribed. Definitely appreciate your information.
Thank you
Hay Daniel, What about having a site where dealers can post coins considered not to be error coins in the hobby to help eliminate this growing problem. Thanks for the insigts
I do, I have them in my help community by the hundreds and non mint error listings and non mint error videos. No dealer has more on this than I.
Dan keep making these videos they are great & needed. We have to out these scammers one at a time. I 💯 agree with everything you say here. Great work 👏
Thank you for these insights!
I'll get back down to Portsmouth one of these days Daniel ❤❤
Good job 😊😊😊
There very few coins shop/dealers here in Alaska. This makes it really tough. My mother collected for 85 years and taught me quite a lot, but there's so much to learn....it's scary.
to this day i avoid error coins, however cool some of them are, too much risk. thank you for taking the time to walk us through this facet of collecting
Get a Red book or a blue book. Good Lord man... Thank you Daniel! Listen up people this man is in the know!
The main topic that grinds my gears is that AND those who post all the time on FB "IS THIS AN ERROR." So many times I just want to reply "LEARN THE MINTING PROCESS." but I hold my fingers and just scroll past.
You can't let that get to you. In my experience just taking the time to say no and add a link to somewhere educational (useless doubling on DD or something) benefits both the questions and the required answers. I'd say 70% are legitimately ignorant and wanting real direction and include genuine curiosity.
I've had plenty complain that I just posted a link or a video, but the information was much better than I could explain in a few words, plus I don't have the time to explain in detail. So I give them a video where I already did it.
Looking for input here: im new to stacking, been sticking to junk silver primarily, but ive bought a few loose silver eagles from my LCS. Do you think buying loose silver eagles with minor defects or scratches is a safe play for stacking? Im trying to avoid the graded stuff and premiums... my only fear would be counterfeits being sold loose to get rid of them? I trust my LCS, but i have been to a few coin shows and have wondered this. Thanks for any responses.
This would be a good question for our coinhelpu community.
Education is the best way I agree keep making those great videos and I will keep sharing them even here in Canada
Although you are correct that these are problems, there are far worse ones. I think counterfeit coins, usually from China, being sold online and the lack of affordable historically interesting coins discourage beginners. Also, the obsession with slabbed coins and the huge differences in values for one or two grading points are insane. Another problems are the ripoff artists that flourish on late night TV, at flea markets, eBay, peddler malls, and other venues. People don’t know enough to begin, then give up after being cheated.
There's nothing worse than these phone apps and error listings they're far more numerous and intrusive than counterfeit coins. I've made plenty of videos and have an entire playlist dedicated to counterfeit coin ID and information. I see them all the time as well, but not as much as I see damaged coins and people using these phone apps.
Gotta Love YT - End of Video Ad - WhatNot error coins are fun to buy 🤦♂️
Perhaps a problem is that so many (I hope they are younger collectors, not exerienced ones.) Is that so many are buying and try I g to slab modern coins as PCGS ms66, 67, 68 etc. What fun is it to lust over stuff you can find in your pocket. There is no knowledge or expertize in that.
Awesome video. Thank you so much for doing this.
All you can do is try sir. Great job sir.
CoinHELPu, nice video dude
Please listen to this man he is genuinely speaking from a true coin collectors heart. Very knowledgeable and DEDICATED !! 💯🇺🇸💣💥
Very well done Daniel!
Yes Sir, I have been looking at those apps and some of them are using the same grading scale and I try a coin with both apps, the results comes different. Thank you for your input about this situation.
A lot of the younger generation wants to make quick money they are hooked on watching videos about coins lot of things happening
i enjoy your insight & trying to cherry pick i know i have done well but i need to send a few for discovery double face penny & two eye two beak quarter & wonder why the double ear on most the 60's quarter
i think you have three issue the new computer voice videos they so scammers blowing up value trying to get dumb people to be leave the 60k 140k for no mint marks one guy trying to say there our many coins on light blanks & wont give the weight of what to look for is there not a youtube truth finder or remover to pull bad & or scamming video love the way they say 1500 its like 1 500 one cent
Thank you Daniel! It's nice to have an honest voice to cut through the crap.
I'm not a collector (...yet. The rabbit hole is widening), but I have been going through my coin jar (hundreds of coins), and I am trying so hard to honestly figure out if there is anything worth something. I look on PCGS, your videos, other videos and books, weigh them and squint at them thru a 60x microscope just wanting to know if there is something there, and I get so confused because there is just soo much stuff out there.
I pulled out about 100 coins that I think are interesting or have some wacky looking potential damage, and I'd like to have a coin shop look at them, but I'm kind of scared to. More than any money, I'd just like to know if this a DDO or a bump or if a scrape is mint damage or not, etc. However, I don't know if what is going on with the apps and internet auctions, if there is a coin shop that would be willing to make an appointment with me just to go thru it.
Coin shops don't like to look at damaged coins and most don't specialize in doubled dies. So use our coinhelpu community or join CONECA and use the attributers there.
@@CoinHELPu thanks. I'm having trouble determining what is damage and what is a mint error. I'll check the groups.
I do have a 1979 no P quarter that only weighs 5.2 that I believe to be a faulty planchette that I need to get looked at. Thanks Daniel appreciate you
I use a different app altogether: Legitimate knowledge through experience coupled with common sense. The best way to gain experience is by interfacing with knowledgeable coin dealers, and by attending coin shows as often as possible.
Hi Dan, I have been following and really listening to you, my question is what is the actual purpose of a coin shop?? Are there not really any coins of a greater value other than their own actual worth?? If so what would make it worth a few dollars more, since errors are basic honest mistakes?? You are a very honest man, I really respect that. I can not help but wonder what is the purpose of a coin store and all these fake substantial amount of money for coins of certain ages and errors that will never be graded high enough, or worth to much more than their own value. Why should people look for {example} a 1955 D penny or a 1990 dime for false and fake hopes?. That is really a heart breaker to a real elderly person who collects coins, because that is a hobby and hope for big bucks to travel or go on cruises?!
Numismatics is a hobby and people often die and leave coins to family and friends, or some, decide not to collect anymore. A coin shop is a place to sell those collections. It is also a place to buy coins and sets for your collection, and some shops sell bullion gold and silver, and jeweler and watches, and many other things.
It is a specialized numismatic store for buyers and sellers.
Another great piece of information and interesting topics of what has been going on in the coins world. The coin club that I belong to all watch your videos, and they make a good subject to talk about. We try to get the information out to everyone we know by sharing your videos with them and helping them to understand what the messages are about. We try to answer all of theirs questions and show them the coins apps that we find helpful and let them know which books to buy or someone will loan them our books to help understand the coin world. The group also informed the various coins group that has dishonest sellers that are on their website that are scam their customers. Thanks again, Daniel, for all you do for the hobby and helping to educate everyone about what is going on in the hobby, and have a nice day.
I stay away from graded coins & collectibles with company grades. I always buy Raw Pre-33 Gold or Mexico Gold Pesos & always make sure my Coin Dealer Test everything before I purchase Silver or Gold. I purchase Pre-33 Gold at low premiums & Mexico Gold Pesos at $50.00 over spot for my Gold. I have learn to walk away from high premiums don’t care how beautiful they look. Rather buy more Silver weight for my Buck & low premiums. I have Two awesome Coin Dealers in my Area & honest business coin dealers.
@@JesusGonzalez-oh1nh that is the way to do it. if you sell, which you may not, do buyers want it tested first?
I don’t have a coin app.
I only have third party graded coins.
There’s a site that has over a million subscribers that puts out tons of these errors talking about errors you can barely see without a microscope that are selling on eBay
They need to pull their head out and hear the pop ! And listen to what your saying. Keep up the good work Daniel 🙌 ty
But yes you are an expert, sir! 😉😊
I started stacking in 2008 and have until recently purchased solely from brokers who order from legitimate mints. Recently, I have attended a few local coin shows and have been successful buying silver bars, 90% silver, Morgan Dollars and Peace Dollars. I can tell with relative ease if these items are genuine. I have not purchased any graded coins for two reasons: 1) My mind explodes because of the huge number of grades and prices. 2) There are also graded counterfeits, and I am not expert enough to identify them. For me, stacking circulated metals can be fun as there is a wide variety of coins, bars, etc. to choose from. Graded coins are just not for me.
I've seen some of these people, expecially on ebay, selling a damaged coin as a die error.
I look at them right away and see its damage.
Scratches are not die errors.
I've learned a lot from your videos, thanks for the Great Content.
Thanks for watching.
You're not kidding! You can find something on the internet for every year penny being worth thousands. It's sickening! Even Ebay sellers are trying to fool people and, I'm sure in some cases. people have been taken!
I can see where these people get confused they have a lot of things online. There was times I thought I had a winner and come to find out just a minor error. So I started using books. Also listening to Daniel here. He puts it out there where you can understand it. Might not be what you want to hear. But it'll be correct. Thanks for putting it out there!