@@italicizer2435 You are a fool, if you know a coin is worth $100 at the most, and you ask $200 for it, you are a scammer, and that is a fact. If you say that knowingly selling a coin for double what it is worth, while telling people it is rare and that is why it is worthy so much, you are scamming them. It is people like you that give the coin collecting hobby a bad name, you are a fool, and a clown.
I was 16. At a county fair auction, they were selling a 1916D Mercury dime. It was at about $60. I told my dad to bid up to several hundred. We won, at $150. It was a 1916 Merc, with NO mint mark. I raised holy hell at the bait and switch, and explained to my dad what they were trying to do. We got ENORMOUS pressure from the county sheriff to complete the sale. Nope. Arrest me, and then the lawsuit will commence. They finally took back the coin, and kicked us out of the fair. This was 50+ years ago...
@@Shattered_Instance I won a coin from one of these RU-vidrs. It wasn't supposed to have a mint mark and it did. At least I didn't over pay. Still, after pointing it out, all I received was a "my bad". Let's just say I don't click on that guy anymore.
@@paulrichards383 That's what i love about using paypal, I've had 3 purchases in the last year that were bogus.... 2 defectives and a counterfeit... Request refund, explain why, and boom, you get your money back.... If the seller wants his item, he can send you a post paid label. I am a straight shooter, with 100% positive feedback and normally very forgiving, but i refuse to be scammed.
If someone says I’m an antique dealer not a coin dealer but has thousands and thousands of dollars worth of coins out for sale, I’m walking away. That’s a red flag.
It's usually just a matter of wording and the way they get out of certain having to have certain types of business license shouldn't be a trust issue do your due diligence either way
Any dealer that claims ignorance about their items is attempting to scam the buyer. They claim ignorance or divert to a different subject to avoid disclosing information, or making a statement they'll be called out on later. Next big red flag was dropping the price by over 40% on first-ask. Even the new, lower price was way too high but they know this and want to lure in folks with the illusion of "a deal."
Not illusion of an deal. That is a deal. Any seller knows you need o have satisfied customer. And the best way to do so is lowering the price. Just an art of selling. If you go out for a new car and dealer gives you 20% of the original price, well, i think you would be very satisfied with the deal. And one more thing. Prices in catalogues are just a mere suggestions of an value of an coin, not a fixed proposal. Bare that in mind. You can literally put a price of an 10.000 USD on that coin. But if you will get it, well, that whole another story. But the coin is yours. You can literally do whatever with it, no criminal doing in that. Cheers!
@@markopredovic3902 If I know something has a current market-value of $20, I will not be a "satisfied customer" when a dealer offers me 20% off their asking price of $100 for that item. As an informed buyer, I will know that's a rip-off, and avoid them. But these dealers are not trying to sell to "informed buyers" they are trying to scam novice buyers who don't know what market-rates are for the product they're looking at.
Doesn't matter what anyone tells another person, people need to do their own research before purchasing big ticket items! Coins, house, car, etc. People work hard for their money, so work hard to spend it wisely!
Just subscribed - longtime coin collector and metal detectorist. Thank you for making the video, like you highlighted, there are a lot of new coin collectors who don’t have the knowledge to know this guy was screwing the over. Folks like him will end up turning new collectors away from the hobby. Keep up the good work.
This happened to me a few years ago. I bought a trade dollar at a flea market and when I showed it to another dealer at the show he whipped out his magnet and said "Since when are coins made by the mint magnetic?" I told him I knew they weren't. I went back to where I bought the trade dollar and told the dealer it was counterfeit and I told him why. He refunded my money and five people walked away. I went back to the dealer that put the magnet on it and I gave him $20 for being so honest to show me I got ripped off.
I forgot to add one more thing. I maybe incorrect on this but, I do believe some were also produced in 1944 as well. However, not that many were produced during that year and are rare making them the most valuable over the 1943 steel pennies.
My youngest daughter had a few dollars to spend at a flea market back in the '90s. This is when the state quarters were just coming out. She came running up to me all excited and said "Look, I got some of the new quarters!" They were the first I had seen also, but she bought them for 50 cents each. Somebody doubled their money quickly. I didn't have the heart to tell her that in time they would be common and to this day they are worth 25 cents. Oh, well. That's how you learn.
First coin I ever bought was a Morgan silver dollar from an antique dear. Was a very honest and friendly seller. Sold me a Morgan for $40 in 1992. Sent in to PCGS in 1998, came back MS65. Not all are bad.
When you asked if he authenticated the coins he went straight into how he acquired them which means no he did not lol. Those prices blew my mind. It reminded me of those late night tv coin shows trying to gouge people. I always look for coins at flea markets but rarely find any at a good price. I buy primarily from coin shows and my lcs. Excellent and very informative video! Subscribed!
@@kevinpresley3136 oh yeah. The state and national park quarters are a fools errand. I actually have complete sets of P, D, and S proofs for the states and have acquired a few of the more well-known errors such as the Wisconsin and Minnesota strike errors. I also have the P, D, and S America the beautiful quarters and a couple of the west point quarters. My father got sucked into the program through Littleton. I told him for YEARS that 99% of these quarters would be worthless beyond face value and he bought rolls and rolls and rolls of them and cataloged everything to make sure me and my brother each got complete sets. While i appreciate the thoughtfulness of his efforts he essentially wasted THOUSANDS of dollars doing it for coins that will never be worth much over face value. He STILL insists eventually they will be worth quite a bit more. My brother and I who are into stacking silver and gold while occasional purchasing numismatics here and there have told him OVER AND OVER AND OVER again. STOP IT DAD! They will not be worth diddly squat over face value 20 years, 50 years, 100 years, or even 10,000 years from now, you're wasthing your money. I put together one book of each mint for both programs but cashed in the rest of the quarters (dad bought them in $10 rolls direct). Imagine having hundreds of pounds of quarters in ammo boxes that will be worth absolutely nothing more than face value in a few years. I've been watching their values online, in the red book, at flea markets, etc., and it's negligible increases at best. 100's of millions of these coins were minted. It's just too many. Even the ones in the original wraps are still worth maybe a buck or two more than $10 at BEST with the exception of one or two states and a handful of the state parks, but that's Soley because of the paper wrap whoopy d' do! This is why i don't collect Numismatics for the most part. It's way too easy to be saddled with 100's of pounds of essentially worthless coins and one day your 80 years old and your kids are helping you clean out the house and downsize and then you have to find a way to get rid of them and can't carry them youself and saddle the kids, and grandkids with them. That's not a good thing to do. Don't fall into the traps set by shady companies like Littleton. They scammed thousands of folks for decades, especially starting in the 90's with their magazine ads flouting ohhhhh the state quarters will be worth 100's of dollars each in 20-30 years. All LIES! Stack gold and silver and keep it simple.
Well said! I see this all the time at card shows and video game shows. Prices way above what they are worth, and they throw in a bogus story to try to get you to buy it. I always look up prices to make sure I am not overpaying at shows. It's a simple thing that a lot of people miss.
As a flea market vendor in Ohio, i encourage customers to look them up or check the "Gray Sheets" (which show nationwide coin prices weekly). If i am too high, lower the prices! That's what flea market vendors suppose to do. That's why people look for me every weekend, by being honest, fair, friendly and be cheaper than a store or eBay. Collecting is suppose to be fun, not dis-heartening or torture.
There was an article a couple years ago, how the leading open-heart surgeon in the United States, was buying gold at double its value, because he trusted in his financial advisor who was scamming him. You can be book smart, but when it comes to numismatics, you have to be streetsmart as well. You have to know who you’re dealing with! Research is the key!
I had a highschool job delivering Domino's pizza in late 80's. On one delivery a foreign lady paid with $11-12 one dollar coins. I think 5 or 6 of the coins were Morgan Silver Dollars. I obviously kept those knowing what they were. Still have them to this day.
Was talking to a coin dealer and he told me how he used to tip waiters with Morgan's! Alas he stopped doing it because they didn't know what they were and often were underwhelmed. A year later I was working on a cafe briefly and a regular gave me a 1 oz. Bar! He gave them to all my coworkers at different points. I told my favorite coworker what they're actually worth and to think of it like getting a $20 tip! She was much happier with the gift having it framed in that way
Another point: NEVER, NEVER sell coins to transient "buyers" who come to towns, advertise their buying in local newspapers, and set up for a few days in motel rooms.
Such transients may offer far less than actual value--taking advantage of local residents who aren't knowledgeable. At coin shows, sellers can get multiple offers.
@@brianrizzi6321 The problem is that your local coin dealer will pay a better price, is likely more honest, and supports his local community. These guys set up "shop" on the side of the road or a motel room, run an ad in the paper, rip off whoever they can, then move on.
Your at a flea market, this guy is selling coins which you dont have to buy. Its YOUR duty to know what youre buying not his. Not sure why you labeled this as a scam, its just someone selling coins above market value at a damn flea market. From the title I thought he was going to have fake coins, then youd have a point to make.
Yeah I'm not seeing how it's a scam unless he's lying about the coin ratings. He's just overpriced. It's a flea market, buyers and sellers are both trying to get the best prices they can.
I agree...no scam here at all...just way overpriced...scamming is selling fake gold and silver or fake slabbed coins...this man can make his prices however high he wants.👍
@robertrichard2739 Local coin shops are not always the answer. I live outside of Houston, and I can tell you for a fact that there are a few lcs that are just as bad as the guy at the flea market, and they're doing the same thing Monday through Friday and sometimes Saturday.
@Zealor365 I just went to a local coin shop in Houston and they started out at 3 times Redbook because they seen the item for that on ebay. When I told them I wasn't interested in it for that, they came back down to Redbook. And every thing I bought was full Redbook prices. For sure not going back to them.
Everything wrong with numismatics and bullion is right there in a nutshell with that dealer. The black eye that this guy has given the hobby is what the rest of us dealers are stuck trying to undo.
@LenHere Yes sir, there are many dealers that choose to take advantage of the uninformed buyers instead of helping them become informed, IT'S CALLED BEING GREEDY. Maybe they thought they could get into the coinshop business, and it turned out that they are in over their head. They might be locked into a lease for retail space, or they are just plain greedy.
Stop being so damm helpless.... If idiots pick up and pay 1000$ for coin at flea market I have nothing left for argument about dealer not telling you what to do and giving a bad name to hobby... Are you all communists? Your walking on a cow field buying crab.... You diddent walk into a professional coinshop... Maybe try educate your dumbfuuuuck community if its a big problem, I see it as learning curve more that a problem. And guy is going LONG in silver coins ha ha and you give him shiiiit for that.... Nobody say fuuuk wallstreet ever...... And they short your shiiiity metals every fuuuucking month
Good video. The guy selling the coins was full of shit. I love how he says, “you know more than I do”. If I ever hear that from any coin dealer that’s my signal to walk away because he’s not an honest dealer. You can bet he knew what they were worth at the time “He” bought them. The guy is a lying dog. Don’t ever do business with someone like that.
As a young numismatist who has been collecting for many years (And works at his local coin shop) I can tell right away that if I came up to his table to sell he would try to take advantage of me and not try to educate me.
I have heard stories from the lady across from our shop that people will try to take advantage of my son when he's running the shop by himself. But he's tough, tougher than me by far, and has definitely learned not to take crap from people looking to take advantage of a kid.
I was stunned by his prices on the Franklin halves. I have always thought that they were beautiful coins and fairly easy to collect because there are no super rare key dates. Used to be you could find decent quality examples of most any date and mint for very little over melt.
That's the point. His prices are too high. Like pawn shop prices. But the difference being this dude probably paid retail and is now trying to mark up retail.
I was at a flea in Hartville, Ohio when I noticed a guy had a booth set up like the one in this video. I was browsing and asking questions like "do you test all of your silver coins?" when the guy shuts me down. He exclaims loudly "I won't sell to you sir!" What!? The guy did not like me asking questions. I'm new to stacking and I was being polite in my inquiries. Go figure. Is it considered bad to ask questions about authenticity?
Put a small magnet in your pocket. It won't detect all fakes, but it's cheap, easy, fast, and non destructive. If it's sticks to the coin it's fake, unless it's a 1943 cent.
Looking at his set up and inventory and then hearing him say he knows nothing about coins, he's just an antique dealer would make me laugh in his face.
I had to laugh. $39.75 for 90% Franklin Halves. I just picked up some nice ones from my LCD yesterday for $20.00 each. From the looks of it wasn't selling too much of anything.
Ummmmmmm $20 each?? That's $40 face.,that's crazy. My LCS is at 20x face. Even better is I go thru half dollar boxes and have found 6 90% ones and 23 40% so far this year.
How TF Is he selling 90% Franklin halves for $40 that is absolutely insane. And $50 for peace dollars. I'm just flabbergasted. If they actually sold for that I'd be the richest man in town
@@joelnordstrom8049 Americans love capitalism. You get something for a lesser price and than you charge the most for it you can get. He's not doing anything wrong.
As a beginner stacker/collector I'm the sucker he's waiting for. Tha is for the reminder not to trust anybody and due my own due diligence and teach myself about something and not buy based on emotion and because it's in front of me.
The price marked on the 2X2 for that damaged 1913 $2.50 was obscene. Notice how he dropped it by half the instant a potential buyer who seemed to know a thing or three showed interest. If someone who knew nothing about coins wanted to buy it as a gift for a collector this guy would have soaked them for more than $800 over its value.
It's the same up here in Canada at flea markets. They way over charge for scrap silver coins, I always tell them that they are only worth the silver content.
I don't really get this , just because the guy is high doesn't make him a Scammer ! I use to sell on swapmeets and it takes a lot of effort and work . And Pickers would come all the time if something is priced high they would whine and complain and if something is way under priced they would buy it fast and then talk amongst themselves how dumb the seller was . He can start high and then lower his prices. I guess if you really want people to know about the hobby then you should set up at the swapmeet every weekend and sell coins at a minor mark or at cost ( but that does take a lot of work and time.) And I also get that addings things COINS SCAM and Flea Market just gets a lot of clicks , which that would make more sense !
Did you bother watching the video, because your comment suggests that either you're a sucker, or you didn't watch the video and listen to the utter lies coming from the seller's mouth. Maybe you don't understand the coin market and the community of collectors. We care about the people in our hobby and realize the value of protecting it. That is why this video has more views than any other on my channel by an order of magnitude. Just scan the comment section...
I just wrote you a huge Reply with all kinds of examples but accidently refreshed the page so I am going to keep this one short because its not that important to me ! Yes I watched the entire video , HE IS EXPENSIVE and unhelpful but if he wants to go by redbook or greysheet he can just deal with dealers and doesn't need to sit in the heat at a swapmeet and my channel also has 180K subs so I know all about youtube , whenever you put SCAM in title video will almost always do well , that is great and I am happy for you. I am strong believe in its a free country price your stuff what you want too if people don't like it they just won't buy it , supply and demand , if he is only the one selling coins at the swapmeet I am sure he is gonna get a nice premium , and I have been to plenty of coin shows most of these older guys don't care if they sell a single coin they just want to buy more. Good luck with everything but still don't think he is a scammer he just has high prices !
Anyone that tells you a long story about how they obtained the items they're selling and keeps explaining more about the story even though you didn't ask is most likely lying.
Who cares what he prices coins at?...if somebody doesn't do there research they deserve what they get...also if everyone held there high price then all the coins would go up in value faster...
I though it was pretty obvious by the entire nature and tone of the video that I care, and by most of the comments by thoughtful people on this comment feed, lots of others do to.
He is a scammer. He knew exactly how to comment on the damage and the fill in on the one coin but claims to know nothing about prices. You're right, he is bad for the hobby.
I looked up every coin I have and priced them so my family will know how much their worth. Prices are based on recent market research and auctions. Also I put the amount i paid for them. Plus a cover sheet that is updated every month. It sounds like hard work and at first it took around 200 hours but know it’s easy to update. I even did my foreign coins. It was easier than I thought it would be.
I taught my family how to use the red book, and we were ebay resellers once, so I've labeled my coins so that they can easily identify and search them.
The back of the holders is a nice place to put dates of price paid and and updated values over time. Or put pieces of paper in the bag. Making it easy for whoever gets um to see their value.
I can tell you that his story does not add up . He stated that the previous owner passed away four years ago at the age of 94 . That would make him 16 years old during the start of WWII . He could have been in the medical corps but would not be a surgeon at that age and without a medical background . The reason I am sure is because my father passed away in 2019 at the age of 94 . He joined the army at the age of 16 in the infantry and fought in the pacific .
Could he have learned to be a surgeon by the end of the war it was 4 years? Just curious. I think the man in the video is a crook. Where he got them could be true.
@@DanielHughes-rf2yf I know things were different in the 40's , but to become a surgeon you must complete medical school . It was not possible for him at the age of 16 .
@@edwardsjohnpaul The only reason I felt so strongly about it was because my father actually joined the army at the age of 16 . My grandparents had to sign for him to enlist . He took his basic training at the time at Schofield barracks in Hawaii and was placed on guard duty of one of our underground ammunition bunkers after graduation . He was there when the Japanese bomber the island .
Great video, protecting others from scammers is an admirable task, especially when it’s in the quest to protect a hobby that you are passionate about…..well done Sir! 👏🏻
He's not a scammer, he's an antiqu-er. Every antique shop i go to has Kennedies for over THIRTY FREAKING DOLLARS. This is almost a steal from an antique dealer. They'll pay spot, and no premium, only to sell for double. Unlike coin shops, they count on making double not a few bucks. Remember folks, your LCS settles for your business at just the premium, thats all they make. Dont expect that from people who want money
Unfortunately my LCS tries to retire off every sale and pays a fraction of what a good coin dealer does. That’s why I drive about an hour to the next closest coin shop..
unfortunately, my LCS cares too much about the money and offers way way under grey sheet wholesale for coins. I went in with an 1858/7 flyinging eagle strong MS64 PCGS Grey sheet at 14000 and retail 30000. He offered me 9000. I started to walk and he jumped up a thousand. I left and sold it to another dealer but had to drive 1 hr and 10 minutes one way to get to him. So Not all LCS are equal. Do your homework and leave and don't fold to the pressure to sell if you aint comfortable.
10 slabbed coins graded by the same industry leading company can have 10 different values,and a. coins true value is what someone will pay for it..debating raw coin values with strangers is comical
Flea markets are for buying cheap trinkets. You do not buy expensive items that can't be verified at high prices from people that can be gone in the night. Exception to that is if you are an absolute expert with a particular type of item and can spot a fake versus real. Many flea market people go for just casual fun and get easily ripped off.
If you don’t like the guy’s prices then don’t deal with him. Why sit and argue with him? He is free to ask for whatever price he wants for his property.
My favorite coin shop story: 2005? York,England on vacation saw a coin shop and just for giggles I went in and was pleasantly greeted by an elderly man after some small talk I told him that I was interested in gathering up the 1944 year minted British coins as I already have a half crown from my fathers visit to Europe during WW II😅 He and his wife got to work going through boxes of coins looking for all the 1944 coins minted that year Anyway came home with those and an 1831 U.S. cent (die rotation) A 1937 coronation crown and lastly an 1899 Newfoundland 20 Cents . I made two new friends that day Keep on searching my collecting colleagues
I just bought a common date MS64, in an early ANACS holder, for $20. That's INCLUDING shipping. Franklins aren't a hot series unless you have a very high grade FBL.
Well, if he is buried in them, that is sad, but given the volume of lies coming from him, I kinda doubt it. I'm betting he stole them. By the way, I'm a huge fan of your channel, I never miss your reports. Makes me thing I should try more cherry picking! Grace to you brother!
Well I sell coins at a Fleamarket, not everyone that does is scammers, however I dont have my coins ridiculously highly price, its fairly price. Definitely educate family on coins. They need to know what they have or what they should buy and estimated price ranges they should be buying at. I use greysheet, and Redbook to price my coins out. I pick up at a deal, I sell still at a deal, not always can I sell at a steal but i try to sell at good deals as much as possible. I would have called him out.
There are fake coins everywhere.now....Morgan dollars, peace dollars, silver eagles, silver Maple Leaves, gold maple leaves and gold and silver bars....We saw many recently and the people selling them knew what they had. The moment I took out my rare earth magnet the dude started talking a Hussle and guess what??? They were all Fake ⚠️😡
If these (so called) coin-antique dealers were legit, they would set up at coin shows. The reason they don't, is because the buyers at coin shows are more knowledgeable. Let the buyer beware.
My Mom recently sold her Rolex through a consignment shop. I was devastated she took that route. She said she didn't know how to sell it. I didn't even know she owned a Rolex or cared to think about her owning one. I told her I could've easily found a buyer for her, free of charge on my end. The shop took $3k off the sale for their cut. It sold for $11k
Great Video. Need more like this around here instead of click-bait reaction videos, that's for sure. I resell toys and junk at flea markets and can tell you that there is a LOT of scammers out there. Do your research and take a price guide with you. My Paw-Paw was a collector, and I love to treasure hunt coins from watching him. Thanks for keeping us informed.
A red flag for me was that the story he told of the Surgeon in Korea doesn't line up with the Kuwait liberation medal on the table. That was earned in Desert Storm.
I disagree with the sentiment of this video. It is a consumer's responsibility to know what is a good deal and what is not. The dealer here may have been charging too much, but that does not mean you have to buy. If someone buys something for a lot more than what they should, well that's what I would call the stupid tax.
I wouldn’t say he’s bad for the hobby, that’s a little unfair. If your buying something not knowing the valued not doing your research and taking someone’s word for you I hate to say but you did it to yourself unfortunately. And I say this as someone who also has been taken advantage of when I first started(for small money) but I’m glad I did tbh to make me take a step back and ask more questions and do my own research to get sharper. Unfortunately you learn your best lessons in life when you get burned....those prices make me lol though, good for him🤣😂🤣😂
I don't see how that's any different than the ebay sellers with "Unsearched" or "estate lot" or "mystery bags" If it sounds too good to be true, it is. Not it likely is, it is. Just live by that
Twenty three years ago, my wife thought she’d surprise me with some nice coins she won in silent auctions. Most were worth nothing more than face value. She wouldn’t tell me what she paid, but I swore her off of trying to add to my collection, without at least checking with me first. Lots of charlatans in the auctions and flea markets.
He is the owner of the coins ! He can sell at any price he wants !! If you can’t afford his coins don’t buy them ! MOVE ON!! Coin shops charge high premium’s to buy coins and rip you off when you sell ! If I can’t afford whatever I want to buy I just walkway or buy something in my budget ! But for you to make this video and bash him recording him from behind is pathetic ! ! If you can’t afford his coins don’t buy it or next time take more cash to the flee market
Well, I guess of the hundreds of people who commented here in 180 degree opposition to your position, I'm still thankful for your comment even if I whole heartedly disagree with it.
Overpriced is subjective. Ferrari's and Rolex's are over priced, but still well within their market pricing relative to other super cars and luxury watches, thus not a rip off. These coins are not overpriced, they are a rip off, as they are prices 2x-4x higher than market pricing.
Any time I hear an old bag barking about “surgeon in WWII” I just automatically assume it’s a BS story and they’re just chicken hawks. I can’t agree more about your remark about informing your family. My wife knows the value to the penny and I track everything in a spreadsheet. I’m 27 and saving silver and gold for our son who’s 5 months. It’ll be a nice 18th birthday gift. I’m trying to spend $7500 a year in coins. I just started a week ago and already ordered a precious metals verifier since I’m still so new to learning coins. Lots to learn.
I see turds like this from time to time at flea markets and other non-coin show type of events. One guy was so bad I stood near his tables for two hours telling everyone who walked up that his stuff was waaayyyy overpriced. he tried to get security to remove me but in the end he started packing up his stuff and left the event. It was frankly hilarious, you could see how angry he was.
I thought he would have fakes or something. Overpricing something isn't a scam. Dealers make bad buys, especially when they leave their comfort zone. It's all part of it, especially for an antiques dealer. They're not used to pulling out phones and getting instant comps. If using Ebay ask comps is a scam, then half the soccer moms who have garage sales are scammers. Awful title, hope you get the clicks you're after.
Here is a great comment to tell the "Dealer" the next time you run into an unscrupulous seller. "At least Jesse James wore a mask and carried a gun!" LOL (Now you can substitute the name Jesse James for John Dillinger or Al Capone too). It's a great line to leave them with and make them realize what they are doing. As if they care!
So you're right about over pricing ruining the hobby maybe reasoning is off or it's both. I'm a toy collector, typically what happens is someone sells something over priced let's say something was 100 someone sells it for 200. New collector buys it at that price... nowww resellers see that someone paid that price for that item ( online sale obviously) and that sets the new precedence of what the price will now be for now driving it sometimes out of reach for completionist. It's ridiculous
My son and I run a Coin Shop inside a Flea Market in Myrtle Beach. We have a permanent inside location, and still have to fight off the mantra of "Flea Market Coin Dealers". We preach to all our customers to educate their family members. And we love to educate our customers. Great job putting these videos out, keep up the hard work!!
There's always people looking to make a quick buck ! On unsuspecting people . And a flea market is a place where you will come across both the good and the bad with in a few feet of each other. Unsuspecting buyer's beware. Great video and thanks for sharing 👍
First let me start by saying if this video was filmed recently his prices are kind of high actually not even kind of they're high in my opinion. Next that's why anybody buying gold or silver either needs to really know what they're looking at or needs to spend some money and buy a sigma. Because I can tell you one fake gold coin can really make someone negative on gold and silver. Great video I love watching videos like this. I'd be curious where this flea market was. Great video! Keep posting my friend. I 100% agree with your comment people need to be teaching their kids what they have. I spent a lot of time teaching my kid about my coin collection and eventually the day will come when I pass away and I've explained he should only sell what he needs to sell to buy what he needs not overselling the collection just to have money sitting in the bank. Coin collecting is truly passing on wealth to the next generation but if you didn't teach him anything you didn't really do them a full service. And for the record I would say that guy was full of it. He was clearly fibbing about one of two things. Either he took full advantage of somebody on the collection and just jack the price up to resell it with no real knowledge of what he had. Or he knew exactly what he had and was gouging people. An interesting thing that you said nothing was underpriced That is a dead giveaway to me. Because a lot of times when I go to coin shows or flea markets or estate sales or any of them type of places I always look for the items that are underpriced like junk silver at 10x. Or antique sterling. But I will say he needs to make a little something. If I were to sell I would go look at the bullying companies what they're selling that stuff for. The book ain't always up to date especially with gold prices nowadays. 1 oz gold coin in the book I can't remember the year but it was like 1950. There's no way I would sell a 1 oz gold coin for under 2K. But double the price is outrageous.
I only buy two types of coins, silver eagles, and gold eagles, and they’re only made by one place the United States mint government, and I buy them from a reputable dealer, so I don’t get into all this other goofy crap
He bought a collection and probably paid too much for it, but he wants to make back a profit. So he offers it at his marked up price and hopes to turn some or all of the coins over eventually. As with anything it is buyer beware and be knowledgeable as to what you are buying.
Price gauging and trying to take advantage of people who know nothing about coins at flea markets is bad but at least I didn't see anything on his table that was fake unlike what I can find at my local flea market.
The gold coins and Morgans could easily have been fakes. To quote Randy Campbell's forward that's in the book United States Gold Counterfeit Detection Guide. (Fivaz 2021) "Be afraid. Be very afraid! There a great many counterfeit gold coins on the market, just waiting to be purchased by unsuspecting collectors and dealers. How serious is the problem? I attended my first coin show in 1960. Since then, I have been at several hundred coin conventions of various sizes-and I have seen counterfeit gold coins at every show I've attended." I'd bank on a few of that hack dealer's gold coins in this video being counterfeit.
🚩🚩Dude is an antique dealer - not a coin dealer🚩🚩Yet he is asking a flat rate for many of those coins regardless of scarcity??? Nah, my @ss is over the nearest hill yesterday.
If you buy a coin for hundreds of dollars off a table in the middle of the parking lot, you shouldn't be in the hobby in the first place, and deserve to be burned. The buyers are just as much of the problem as the seller when it comes to these situations. Accountability goes both ways. The dealers main goal is to make a sale, not educate a mouth breathing local. We shouldnt expect them to either.
If you think his prices charged were bad, just imagine what he likely paid for the collection. I promise if you had the coin you wanted to sell in hand that you would not let it go for his proposed buy price.
I collect coins too, and I have looked at flea markets and you will usually always find that they way overcharge for everything. I've seen common silver certificates that you can buy for 3 to 5 dollars at a coin shop and their charging 20 for them. Same thing goes for some coin shops they want to give you 23 dollars for morgan and peace dollars, but when you look in their displays they are selling the same condition/date coin for 40 to 50 dollars, yet you watch videos of coin dealers that claim they only make 10 to 20 percent on the coins they are buying. So the real morale of the story is know what you are buying value is or just leave it there. I always carry a backpack with the Redbook and other resources with me.
@LenHere what a lot of people don't realize is that the Redbook is a price guide. The Redbook is released around February of the year prior to the date on the front of the book and is actually what the authors are hoping coinprices will do. The reality is that if you go to " reputable coin shop" you will see that they are usually selling coins around 80 percent of Redbook prices. That being said, there are coin dealers that are selling their coins for full Redbook prices, which is the other part of the pricing problem.
@@KenDrewery Redbook prices have always been 'high retail', even long before the market became so volatile. It is, however, the primer of choice for beginning or novice collectors and a handy reference for all.
@-oiiio-3993 you are correct, as is ebay sold prices, but what a lot of people who don't sell items on eBay don't know is that most sellers are pricing their items 15 percent over regular retail because they are giving eBay that much for helping them sell their items. I was talking to one of my local coinshop owners and he's going to stop selling that way because eBay is making more money than he is on the items he sells through them. The people are raising their prices to cover this expenses that they are incurring. The real problem is that there aren't enough videos covering these issues, and people are using eBay for sale prices as a way to elevate their prices. So maybe if more people will just simply go several different coin shops before they get in over their head shopping at flea markets. I have never found any coins or currency at a flea market that weren't overpriced. It all boils down to knowing what something is worth before you buy it. SELF EDUCATION
@@KenDrewery Another problem with that is that a lot of people on Ebay sell things for _outrageous_ prices to the uninformed such as common date 'no mintmark' coins from the many decades that Philadelphia did not use one. Ebay sold prices are a very unreliable source of actual value.
Those prices are insane ! Please not, China is producing fake Morgans and silver eagles that are really good fakes. The coins are brass and silver plated.
Wow this guy is a swindler. I'm glad you called him on his bs. I'm curious how much he would have bought a Franklin half dollar off of you for lol. He's selling them for $50 so I'm sure he would have gave u at least $30 right 😂😂😂
