Brand new to collecting

[NRP 38]

Interestingly the the article in the coin probe wasn't over the inflated prices of them selling modern silver but over a chap who came to see me to sell me some old rare coins. Yes they actually sell old coins such as hammered gold etc to cut the story short he came round with a selection of coins he had a Charles the I unite, common one in VF that I would sell for £2000 they had charged him £9000, he had a gf 2 guineas worth around 1500 they had charged him 8000, a James I untie VF again worth about 1800 they had charged him 5000 and a 1937 gold set worth 5000 tops they had charged him 20000!!!! Let's is just say he was not happy when I told him the true value and it turns out he has spent 250000 with them over two years!!!!

Wow. So he has a collection of low grade higher value coins worth about £50K or so. A few thousand I can see being spent without a bit of research. A few hundred thousand???????? Caveat emptor.

I too have picked up old collections where the realisation of what was purchased against market value was a bit of a shock, though not on that scale. Mine were typically a 4 figure sum for things worth a couple of hundred pounds tops.............. multiplied a few dozen times. Every example I noted had a lot of glossy sales blurb with an image of an example of the coin provided in high grade, but the contents of the box were typically fine. The only exception being proofs where the coin was virtually as struck, but the price paid many times that of market value.

Yes to say this collector has been well and truly stitched up is an understatement!! Which makes me wonder how many others have fallen foul!!

[Rob 2,998]

Interestingly the the article in the coin probe wasn't over the inflated prices of them selling modern silver but over a chap who came to see me to sell me some old rare coins. Yes they actually sell old coins such as hammered gold etc to cut the story short he came round with a selection of coins he had a Charles the I unite, common one in VF that I would sell for £2000 they had charged him £9000, he had a gf 2 guineas worth around 1500 they had charged him 8000, a James I untie VF again worth about 1800 they had charged him 5000 and a 1937 gold set worth 5000 tops they had charged him 20000!!!! Let's is just say he was not happy when I told him the true value and it turns out he has spent 250000 with them over two years!!!!

Wow. So he has a collection of low grade higher value coins worth about £50K or so. A few thousand I can see being spent without a bit of research. A few hundred thousand???????? Caveat emptor.

I too have picked up old collections where the realisation of what was purchased against market value was a bit of a shock, though not on that scale. Mine were typically a 4 figure sum for things worth a couple of hundred pounds tops.............. multiplied a few dozen times. Every example I noted had a lot of glossy sales blurb with an image of an example of the coin provided in high grade, but the contents of the box were typically fine. The only exception being proofs where the coin was virtually as struck, but the price paid many times that of market value.

Yes to say this collector has been well and truly stitched up is an understatement!! Which makes me wonder how many others have fallen foul!!

Quite a lot I suspect given the marketing blurb usually says restricted to 500 or 1000 pieces. They shift them as the number of boxes reappearing at auction bear out. Given most people hang on to 'investments', what we see is probably only the tip of the iceberg.

[Peckris 579]

Standing outside Corbitts sale last week we were handed a couple of cards from someone claiming to be a director of ISN which has prompted me to revisit this thread. It is probably worth considering the arguments put forward last year. Silver has not risen as claimed. 16 months ago it stood at $28/£17.83, today it is $22.30/£13.82. That's a superb return on your $96 investment for an ounce of silver - it could have underperformed big-time.

I couldn't help thinking about a double page advert in the last edition of 'The Coin Probe' placed by a similar type of organisation and shown below.

Hahaha - I know what LMAO stands for ... but LMIO ???

[Nick 325]

Standing outside Corbitts sale last week we were handed a couple of cards from someone claiming to be a director of ISN which has prompted me to revisit this thread. It is probably worth considering the arguments put forward last year. Silver has not risen as claimed. 16 months ago it stood at $28/£17.83, today it is $22.30/£13.82. That's a superb return on your $96 investment for an ounce of silver - it could have underperformed big-time.

I couldn't help thinking about a double page advert in the last edition of 'The Coin Probe' placed by a similar type of organisation and shown below.

Hahaha - I know what LMAO stands for ... but LMIO ???

How about Laugh Myself Inside Out.

Edited October 9, 2013 by Nick

[Coinery 926]

I've not read through all the above thoroughly, but it only takes an arse like Liam Gallagher to suddenly think 'I want to be a falconer' or 'I'm going to buy medieval gold' (because he's just watched a new movie), and hundred's of thousands can be spent without any concern, research, OR care!

London 'Art' Galleries, and Designer outlets depend upon said human behaviour!

[ski 1]

Im a dragon living in a den and ........................... im out

[TomGoodheart 373]

Im a dragon living in a den and ........................... im out

Have you been at Peter's tablets Ski?