This Is What's Hurting Coin Collecting Hobby! Numismatics Is Being Ruined!
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- Опубліковано 11 вер 2019
- How to FIX the coin collecting hobby! • Fixing The Coin Collec...
This Is What's Killing Coin Collecting Hobby!
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How to FIX the coin collecting hobby! ua-cam.com/video/HL98AIyoFsM/v-deo.html My latest video
I look back and think I did I got hooked into the hobby. In the early days way back in the 60s, I had a coin album, and with circulated coins I would find dates and mintmarks to fill in the album, and the fun was the "search" with no big capital outlays. After a period of time, the scarcer coins is needed to fill the "empty" spot. Perhaps, future coin albums should be created in a series of limited number of years, (ie, all pennies, nickles, dimes, quarter, halves, & dollar), in a period of five years (for example, yrs 2010 - 2014). If one completes the album of recent years, one would likely pursue another challenge of older series such as an album of years 2005 - 2009, and so forth. Current coin album formats such as the Lincoln cent is too daunting of a challenge to a novice collector who will see a lot of "holes" in the his album for the longest time, and soon loose interest.
Similarly, @USPS has been killing stamp collecting by releasing so many new issues every year.
Sir, the word I think you're looking for is "predatory." It's the difference between profiting and profiteering.
I know you probably wont see this... but coming from a 20 yr old here! m in LOVE with coin collecting and paper money, im a HUGE history buff and actually try to put history in my music... So dont lose faith!
I bought (from ETSY) a set of "mixed vintage coins from an old estate sale" . I GOT A BAG OF 30 UGLY PENNIES FROM THE LATE 1950'S AND A BAD, WORN BUFFALO NICKLE OF LATE 1930'S
Reminds me of what happened to baseball cards in the 90s. Mass production and higher prices and now we have millions of worthless cards.
Cardboard
Vertical Stacker tell me about it my brother and I were card dealers in 1987-1994. When upper deck came out 1989 they were very limited! 1988 started the huge mass production of junk cards. Look at 1988 Donruss set baseball, ouch holy moly maybe $5 and now most are out of business! Found 1984 donruss wax box at flea market $20 flipped it for $270!they had it right keeping it super limited and went right away from it.
Just like comics.
Yeah, the 90s was when collecting things stopped being fun. '80s baseball cards were a lot more fun to collect although I was lame because I was into Topps, which is like saying "Yeah, I love chocolate! Hershey's is my favorite!"
Seeing now with TCGs, looking at you magic the gathering, wizards of the coast, and ultimately hasbro
I am 74 yrs old and was an avid collector while an 8th grader and freshman in high school (60-61). Everything in my Whitman books I found in change. My penny collection got to that magic point where there were about eight or nine holes that will never get filled because of rarity and cost. Then in 64 the world collapsed. When they pulled silver two things happened. First, all the old Mercury dimes and standing liberty quarters vaporized. Second, EVERYONE started looking at their change so buffalo nickels, war nickels and pennies from before WWII disappeared. Lastly, during the 60's proof sets cost about $2.50 and the only people who bought them were collectors. Sometime a little later the Mint started advertising that proof sets would be great momentos to give your grandkids for their birthdays. They put the coins in plastic holders. After the late 60's they became worthless.
As someone who is 22 and have been collecting since I was 10, another massive turn off is the elitist mentality. I have plenty of spare income for coins now but when you ask honest questions on online groups like Facebook, you get older folks in the 60s and 70s talking constant crap. Older coin collectors should really be as helpful and inviting as possible, or when you need to offload your life long collection, there will be no one there to buy from.
Be inviting and helpful, not elitist and blameful on the younger generation.
All of the coin shops I've gone into to ask about starting up a coin collection have been a major turn off in that same regard. One owner asked me if I had kids or a boyfriend and if I'd like to go on an out of town trip and stay in a hotel during a coin expo to "learn about the business during the day and party at night"... Ugh.
but younger collectors HAVE the market completely twisted up. look at ngc graded eagles. the holder fetches more than the coin. seriously?
the new mint stuff is MEH. sorry but it just doesnt excite me enough to pay 30x face value for the package on those issues.
unless its a MS graded coin too and a 65 or better it seems all too often the coin is bottomed out in price and wont appreciate at the rates of the higher grades. its supposed to be proportional.
somewhere the coin itself got lost in the greed. you can say everyone contributed but no- this came about with the millenials like it or not.
It's better in my country, since old guard from communist era were largely members of one organized collector's club, so they all know each other and are inviting new people casually, whenever they see someone interested. Whether you want modern coins, 19th century or Roman Empire, gold or silver, they can tell you anything about everything. Coin shop owners here, however, behave like 18th century aristocracy, so i rather visit regular antique shops, usually also selling coins or medals.
@Sponge Bob do you not see the irony in your comment? That's like proving the police aren't brutal by meeting protesters with brutal force.
If you frequent any of the main Facebook groups like American Coins and Collectables or Freedom Coins you will see exactly what I mean.
@Sponge Bob They have nothing in common but they are an analogy. To prove that older folks are not hostile or u unhelpful to the younger generation, you are instantly calling BS on my experiences as a complete stranger online.
The analogy is that police brutality protests all over the country were similar. Cops said they only use reasonable force, and to prove it, they used tear gas and batons to show how reasonable they were.
You are proving the exact point you are also calling BS on. Its irony.
Thanks Daniel, I totally agree. This hobby needs more people like you.
It's hard to get coins certified if it is $100.00 to get a PCGS slab. Also there is no way to quickly, cheaply and tangibly take raw coins and verify if they have been cleaned or not. No one wants to buy a raw rare CC silver dollar if it is hard to see if it has been cleaned or not. Too many dealers want to call a raw rare coin cleaned when it isn't cleaned. The other thing is that dealers want to sell for the numismatic premium over bullion, but they will only pay bullion value on buyback.
Real talk! 👊🏽
My dad gave up on the mint sets in 1976. God rest his soul. The great stories about the hobby he told. I was going to the coin shop at 5 years old. It was fascinating.
My dad collected nothing but circulated coins in his early years. But the 1965 sandwich coins were the end for him. By the 1970s, you couldn't find silver coins in circulation anymore. So in the 1980s and 1990s, he started buying coins, proof sets and commemoratives, from the US Mint. He passed in 2010 and all of those proof sets and most of the commemoratives still have not appreciated enough to recover their purchase price. My favorite memory as a young boy was helping him go through his pocket change and filling the missing spots in his Whitman folders. I still have his Indian Head cent collection; 75% filled and not a bought coin in the lot! Tough to find Indian Heads in your pocket change these days.
@@jamesdarnell8568 I found my first Indian cent in 2013. I always looked through my change. Some people are spending coins they know nothing about.
I also got a 3 cent piece this year. I guess the cashier thought it was a dime. No date.
@@Timothy--vb7rr I did find a Indian head in a cabinet in my house (1890) but I have found a a lot of wheats I have even found three on the ground over the years
I'm a millennial, I've been collecting ever since I was 8 years old. Just recently I had the best thing ever happen to me I went to the bank and got a few rolls and my girlfriend cam over and I got her into it too it was by far one of the best day in my life. Also since I'm 20 and in college whenever I go to the store and get change and go through it I get so many looks from my friends and other people around me and I always hear why are you looking at the change kts worthless or it's only worth its face value I always just give a smile and say that may be so but there could be an oldie in here. And from that I get alot of people change they dont want or I'll give them 10 bucks for all the change in there car of what have you it kinda of great that there arent many people in my generation that know about coins because I've gotten a lot of free silver just given to me. Even when I try to explain it to them the few quarters they just gave and one of then was minted in 1962 that's its 90 percent silver they always scoff and say whatever or that I'm super nerdy 😂😂
Great comment! Thanks!
That's what I want to know, kinda got off topic didnt he lol
I did the same, mostly looked through masses of pennies as well and found tons of wheat backs, sadly never found anything truly worth it though, did nickels as well and found a few buffalos [no key dates though] and also pretty sure I found a mercury head dime when I did dimes, was pretty fun lol this was all back in 2013.
@Sponge Bob He spent the afternoon laying on his bed with his girl looking at coins. Sounds like great afternoon to me. What do you think he found?
Coin Collectors are glad to have you Clayton!
You are definitely on to something here. For me it was eBay that ruined the numismatic experience. I was ripped off so many times with cleaned coins that happened to look great in the photos that I basically gave up on collecting altogether, concluding that older coins are just too risky a hobby. I don't think I am alone with this either. The constant fraud and rip-offs took me to bullion and bullion coins.
Deal more with Local Coin Stores to avoid the problem coins on eBay
I just use a local coin shop I even have gotten silver coins for free takes the risk out of it plus I can enjoy it as a hobby without worrying about being ripped off
Locally here in Houston and Sugarland Texas all they want is your silver. I can't find anybody about errors orMS
ebay ripped me off too they still owe me over 300 dollars
I just had to report a fake 1933 UK penny on ebay.
THIS Has to be one of the most Honest people i have run across on the internet! God Bless you young man! need more people like you in this world!
I've been giving coins to my little brother since childhood, it's worth every penny just to see how excited he gets. In 1978 I even went and bought him a 1955s Lincoln for 35 cents, you'd have thought I gave him a gold brick by his reaction. That's how I have fun coin collecting.
$1600 for a 1/4 oz gold coin? Man, that's sad. They could have got a 1 oz gold buffalo for that.
Preachh!
I stopped buying from the mint once coins were no longer made from silver (1964). I’m old.
Gecko Brah exactly my dad kept buying those junk mint sets and 35 years later they’re not worth what he paid for them ?🤷♂️
I only buy the eagles, they are silver
Same thing with the collector car industry. Prices get so out of hand that true collectors who love cars can't compete with speculators with deep pockets using classic cars to make hordes of money.
Interesting. I had assumed it was just the rich like Jay Leno snapping them up.
@@rick43pen Jay Leno is definitely one of my favorite rich guys. Dresses in blue cotton work shirts and blue jeans; and his knowledge about old cars and motorcycles is awesome. I would like to be his friend.
This is the same path baseball cards took thirty years ago. When a brand new clad special Kennedy Half is $70 it’s getting a little crazy. Trying to fill in a book with new releases is crazy. It used to be easy.
KD 68 I couldn’t have said it better
@001 002 no theyre out there
@001 002 they make a couple of million for the collectors,
Late 2021 here.. and in my opinion baseball cards are right back where they were during the junk wax era. Waiting for the bubble to burst!
@@captainsergeant Yes it has made a comeback. Time for me to sell.
I'm 56 and I've been collecting coins since I was a kid. It started with my grandfather giving me silver dollars from the tooth fairy!
Your opinion is correct, as are your videos, very informative and educational, thank you, have a good day!
I don’t watch many of the vids. But this is a good one. Dealer to dealer.. thank you.
Thank you
🦄
I'm new to this hobby (35 years old) and I appreciate all your knowledge and insight. Glad I found your channel. Thank you.
Its the same over here in the UK, royal mint pumping out shitty proof 50p's in cases and people are actually spending £30-60
Every time i see Mike M on HSN i always say the same thing, Who are these people who spend 4 grand on a 1oz coin without doing a little research first. I have always assumed they prey on the elderly, not one collector i know would ever pay 4 to 5 X the actual value of a coin because its slabbed first day of issue or early release or in a fancy box
Great info Daniel, unfortunately you are correct about everything you said. I collected as a child and loved it. My collection was stolen from me and I quit. I seen videos on UA-cam and it made me restart my hobby and I couldnt be happier I did it. I've found some of the coolest stuff ever. Anyways it's because of people like you my passion for this hobby has been rekindled. Keep it up and thanks for helping change my life in a positive way. I wouldnt stop though if it lost its value cause I love doing it and I think the true collectors at heart will always collect no matter the value of a coin but the ones that hardcore may be lost to this issue.
Wow. Was it a family member or did someone break into your house? Sorry this happened to you. My collection was stole by my step sister when I was a kid. Those coins and paper money would probably be worth good money today. She probably spent them on cigarettes.
Wisconsin's CRHunter
My older brother cashed out my childhood collection for some ready cash. He said, What's the big deal? I'll give you the money back when I have it. Learned two things: 1. Never leave my collection in the open. 2. My collection's worth to me, has no relation to nebulous, ethereal or transitional forces.
@@dashcamvideos6742 it was a long 6ime friend of mine who turned into a heroin addict and broke into my place while I was gone and stole it. Later in life he overdosed and passed away sadly leaving two baby girls behind without a daddy. He probably got melt value for most of it and tossed all my foreign. If I had to guess the value of the total collection I'd say $10,000 US, he probably got $1500. I had a thousand Indian head cents. Slabbed Morgan's, 100s of buffalo's over a thousand silver quarters and much more. It breaks my heart reminiscing about it right now as I write this to you. I'm sorry for your collection being taken as well
@@petersurdo4984 that's just terrible that peoples own family members are stealing from each other. What kind of a world do we live in now....
Wisconsin's CRHunter
To me it was collection. To him it was pocket change. Live and learn.
THANK YOU. HARD CORE COLLECTOR HERE AND I LOVE YOUR HONESTY. LOTS OF SHOPS WITH AUCTION BOARDS OUT WEST AND I NOTICE MAYBE 1 OUT OF 10 PEOPLE BIDDING ARE OVER 50 AND FEW UNDER 30 EVER SHOW UP. I STARTED WHEN I WAS 9 YRS OLD AND WE USED SILVER EVERYDAY. NOW 68 GREAT WORK YOU DO. THANKS AGAIN
Very true, also I can't believe that there are companies producing replicas of valuable coins, and people actually buy them to fill gaps in their collections. I'm amazed there isn't a law against these fakes being made in the first place.
in Canada, the shopping channel has a show for coins and it is the epitome of what is killing coin collecting.
You can look at what the Royal Canadian Mint has done to numismatics to get an idea of where the US Mint is headed. The RCM has been issuing hundreds of collectible coins per year for so long, they don't know how to cool the engine they started. This is why they lost their shirt on the $20 for $20 (and $50 for $50, $100 for $100, etc.) series.
@@Dualipuff ikr, some coins are literally just photographs enamelled onto blank surfaces.
@@Dualipuff Some of those RCM collector coins have come up to auction at our local coin club. They have been sold at less than the value of their silver content.
Plus, they're actually taking old coins OUT of circulation with the pointless Alloy Recovery Program. They're killing the hobby to make literally a few more cents. I'll keep politics out of this but I will say that I do *NOT* agree with the current government of Canada nor do I agree with what the money is being spent on.
Thank you Dan for having the courage to speak the truth! Soooo many great channels have gone to the commercial side of things, giveaways, advertising, self promos, etc. It's not about the coins or the love of collecting, the artistry and designs, the history... It's all about the $$$$$ so thank you so very much my friend and please keep it real!!! 👍👍👍
Never buy a coin on TV
Biggest crooks of all
Great advice Great video
Thank you
Never buy a collectable that's advertised as a collectable.
I receive the American Legion magazine and it aggravates me to no end how junk coin marketing shysters prey on vulnerable veteran sentiment!!😡
It is sad
@@CoinHELPu not as much veterans but the elderly, they do prey upon. Yes very sad.
@@CoinHELPu I wish the VA hospital was closer to me. I'd be volunteering there every day. The "greatest generation" is passing away... my WWII vet dad so did 13 years ago.
As always you are the man in the info in coins. And yes more people should be and learn from you. Thanks again mark in Lakeland fla.
Please, please PLEASE never buy coins from ETSY
but don't you want that **DOUBLE DIE RARE VARIATION S MINT 63 MGS RATING** coin lol?
Don’t you want a rare 1964 silver dime for $3,000?
I guess I'm lucky I recently took up the coin-collecting hobby. The local coin shop is very helpful and goes to great lengths to answer questions.
You know what else do the grading companies are hurting the collecting because they charge too damn much for grading a coin
If I want a graded one I buy it already graded. To much time, trouble and money dealing with the process.
@@davidthecardcollector that's true. ANACS I think has a better policy on grading, where you dont have to join and they're least expensive. PCGS & NGC... I think what they want the common man to do is force them to deal with thier Local Coin Store to make the submission. Pros & Cons to this... it may form a relationship with the LCS where before there was none. But many people, myself included, like being private and having as few people involved as possible.
$20 a coin for economy service with NGC PLUS you pay a $26 shipping fee PLUS a $10 handling fee?!?! Does it really take $10 for a worker to put my graded coins into a box and print the label?!? NO and one more thing! They charged me $30 to ship my 8 coins and on the label it said $16 shipping fee?!?! Where did that other $14 dollars go?!?! To get a it nearly cost $400 to get 20 coins graded! Ridiculous! Yet I still submit to NGC. Cheaper than pcgs! PCGS charges $35 for their economy service! Good lord!
It's always money making
Your right about that
Thank you for being so honest. I really appreciate your videos. I have learned so much from from you. You have made me a better coin collector thank you very much!
Your right on the money Dan? No pun intended, lol. As for the US MINT, not only are they over priced, their quality control is horrible and the customer service as a result is just as bad! I stopped buying from them period!!
I agree with you to a point. Unfortunately the rule is to be an informed consumer. It is much more important to be informed than to be "smart and wise". The more unfortunate thing - as long as people buy these things - the more they will offer. I did not buy the American/Canadian set for that very reason, it's two ounces of silver - so I might have thought about it at $50-75 but $140? Nope.
I am never going to be on the side of these fraudulent sellers, it's not the elderly buyer's fault.
No one is on their side...
Agreed. Due diligence in all you do. And yes, I'm a boomer.
Thank you so much I can't tell you how thankful I am for people to put out this info
You are putting me in a silver mode now so many kids think my 1 gram gold coin is worth hundreds of dollars
Another thing that is killing our hobby is all of the counterfeit coins flooding this country... Some of them are getting really hard to tell from real US coins...
I learned my lesson years ago when I bought a 1990s comem silver dollar for $38 at a coin table, Later I went to my LCS to sell, and he gave me $10 and told me “I melt these down”. Now I only collect gold and silver bullion coins close to spot, with a few semi numismatics here and there if I find a good deal.
I learned my first lesson this weekend, went to a coin show and bought a 1865 Maximiliano Emperador - Mini Mexican Gold Coin for $30. I got excited and thought it was a good buy. Thinking that being at a coin show and buying from a seller that there is no way that they would hoodwink me. But I got home and see that they are replica tokens and only plated worth about 3-5 $. Oh well It was only 30$
It does happen
UA-cam helped me get into numismatics, I had the original genuine interest but knew nothing about coin roll hunting or what to look for before watching videos. I now have joined my local coin club, run by the local coin shop owner. There are currently 5 junior members in our club (children) 😋
You Daniel help me not overestimate my findings. Thank you.
Great to hear! Thanks
Absolutely correct and I totally agree with you. Very nicely said and proved.
Great advice. The same problems are being experienced here in Australia. Thank you!
Finally a knowledgeable man that tells it the way it is. Thank You!! Excellent truthful video..💯💯💯💯👍
Amen. The age of exploiters has arrived. Sadly, grifting for profit seems to be a point of pride for too many.
Thank you for maintaining your integrity and speaking the truth. I'm listening and recommending you to others.
I first started in high school and I had stop from undergrad through grad school and now I've gotten back into it recently.
Thanks Daniel. Living in New Zealand it is hard sometimes to weed out those who are just seeking out money for worthless items just because of the packaging or some other personalised stuff they add to make the coins look like they are worth more than they really are. Your videos really help clarify issues when it comes to collecting US coins.
Thanks for stating some of the things I have suspected. I've noticed a big change in this hobby since I was first involved in it as a kid. Going to share this video to the best Coin Collecting Group on Facebook!
Thanks for the much needed education from a coin collector who has wondered why he’s lost interest in coins 😕
Maybe someone should start a class action lawsuit against these crooks !
Not a class action against one grading company a lawsuit was won with damages. awarded.
Daniel this is probably your best video yet! I fully agree and have been collecting since I was 6 years old back in 1978 .The decline in collecting has been obvious over the past 3 decades when I see all the monthly local coin shows disappearing. In the 1980s almost every month the was some sort of local show going on within 50 miles of home. Now I'm lucky if there is something every 6 months with 100 or miles! I've been burned so many times on over priced cleaned junk from so called reputable dealers featured in Coins, Coin Prices, and Coinage magazines. I cannot trust any of them no matter what credentials they will display (PNG, ANA Life member, etc.) You have to be careful with eBay as well and know all the tricks those sellers play. Over the last 30 years it's driven me to only collect professional graded PCGS, and NGC certified coins. By the way, you have to know what to look for to avoid fake or altered slabs as well! Before I buy I will research the seller and the slab ticket and look on their websites. It's sad to what extent I have to go through to avoid getting screwed again. I see how quickly it can turn anyone off to the hobby just for a few bucks of greedy profit.
Hi Daniel, you always have valuable information, Thank you for taking the time to help us out!!! Thank you for supporting the community!
Great video Daniel. I'm glad you made it! Thank you sir!
Hey Daniel, for me, the counterfeiters are killing this hobby. Also, Greed on the part of corporate sellers are killing the hobby, ie HSN.
The counterfeiting is a Deaths Dagger.
7:35 I guess I am the minority as a serious coin investor and marketer at 14 years old. I rarely play games unlike my brother and every time I pull out my collection, I get a rush of excitement. Aside from that I truly believe that this video is correct. I try selling my coins all the time on eBay and never sell anything. There are so many fake coins that look so real out there that people think their buying an 1804 silver dollar for $2.99! I have to result to heritage or numisbids to even get a low premium on my coins. I hate those fake companies, as well, selling 1941 mercs, 1906 Indians, and cleaned 1943s for well over $40 a lot. It really pisses me out when I have to search through so much crap to find the coin I actually want to buy. But all in all, great vid.
Thanks for commenting!
Fufu Tube! Hey it me up on insta I am also 14 my insta is @coin_collector113
Thanks for sharing, I just got into it and I’m 40.. I wish there weren’t all the fakes, I may get out of it just because of that and I can’t tell if it’s a fake or not. I’m on TikTok looking through coins and people are interested and so scared also to have dealers look at them and don’t want to be ripped off and I can’t buy them because maybe I’m getting ripped off haha . What he said in the video is so true and it’s not any one generation fault it’s the mint and the fakes to name a couple. I mean it is nerdy too so that’s part of it haha, but what about the auctions too . If I have a coin at $2000 in the auction that could only be worth say $100 and you have a coin in the auction at $2000 that may be worth $100 and we both buy each other’s inflating the price. Take it to wherever the demand is and sell it for slightly over or under $2000 we didn’t just pump the market by $5-10 you pumped it thousands of dollars. Look at heritage auction someone bought a MS 67 or 68, 1971 half dollar for over $1000 I have a couple ms68 half’s and I know I won’t be getting $1000 or more for it, nor should it be worth that. The auctions are crap, eBay is crap, there are crap sellers on TikTok and everywhere really. The fakes and the mint are they biggies though, the auctions are just doing there job but needs to be more regulation from Authenticators not allowing crap to come on the market to begin with.
I'm just getting in to coin collecting as a hobby I'm glad I found this video.. thanks bro!
1941 Penny, first glance $3,500.00 then $2,500.00 then ,,
35 cents. Go Figure ?
i guess all those price guides have something to do , i saw the pcgs guide and i can't belive how cheap and almost worthless some of their prices are, i know it also depends on supply and demand and auctions, etc. but i think it's not fair that they have a saying on what a coin should be worth.
Pop Scott thanks for the laugh and I mean it I laughed so hard thanks
As P.T. Barnum said "there a sucker born every minute". I just watched a video of a guy opening a shotgun roll of "BU pre 1921 Morgan Dollars" with some Nevada bank stamped onto the roll that he said he paid $1,200 for. One end had the reverse showing and what do you know it just happened to have a CC on it. So he opens the roll and shows the date of the CC i believe it was 1884 might have been 82 or 83 but it was one of the common ones and the rest of the coins were all common and almost all Philly mint and a couple of New Orleans not any San Fran. While they all appeared to be UNC. none of them were BU.
I just got into coin collection earlier this year. I just wanted to say I'm really grateful that I ran into your videos. Believe me your videos help me out thanks.
Thank you!
Hi Daniel, I wholeheartedly agree there is entirely too much greed, not only in the coin collecting hobby, but in the world in general. As one who has recently returned to the hobby I am seeing many youtubers are encouraging people to 'hoard' certain years which in itself is causing shortages. I'm seeing the results in my box searches; this may force young and new collectors to resort to buying overpriced coins online. Thanks for pointing out a major problem (greed) in the industry.
The modern stuff is cool with some of the new technology but some of the prices are way out of line and the special slabs and labels is just getting annoying.
Me too, used cars that is.
@001 002 Me too. Also, Used, nearly new home exercise equipment in March every year.
Thank you ever so much brother, for this info. This is very informative and very honest. I'm new at this hobby and I'm just dealing with old and new pennies which I like to look at and find differneces but don't know what is valuable and I don't wanna be taken or scammed either. Your advice will stick with me always. Thank You!
Mark A, G.
I saw an elderly couple bring in 2 large boxes of overpriced silver and gold coins from the Royal Canadian mint . The local shop owners offered them the dollar amount written on the coins only . As you know a $20 or $50 gold coin depending on the year can contain one ounce of pure gold and worth thousands. A $1 or $3 silver coin contains 1 ounce fine silver. They wrote theme a cheque for approximately $600. The coins value was about $20-25k or more. This is atrocious and dishonest. . I told the old folks to bring them back home, but they were broke . I called the coin shop the next day and told them how I felt . I never went back. I enjoy all your videos, and you’ve woken me up to all the fraud, and the good coins to buy. Thank you for your honestly . 😊
Wow! They need reported for that
That’s why I only follow your channel your very direct and straight forward you tell how it is weather we like to hear it or not👍🏼👍🏼
I'm 30 now and have been collecting for about three years and I cannot convince my peers that this is the greatest hobby of all time and it's dying which will make every last coin A piece of history once we've become cashless...
Thanks for your take on this bro,
T.O.
When the USA adopts digital currency (there are discussions about that right now) those pieces of history will become essential to a lot of people’s financial survival.
Because we are encouraged to do the best research before buying coins from all coin dealers and sellers it’s imperative that buyers pay close attention and make the right decisions and shop around before buying anything. Getting burned once is enough for some people to learn their lesson-getting burned all the time is often ones’ own fault. IJS
What does the hobby consist of other than shopping and knowing prices and issuances? There's something about it that attracts me, but I'm not sure it's anything other than shopping and hoarding dopamine..
@@ferreus For instance collecting ancient coins you can study art, politics, religion, economy and habits. There are plenty of sites, papers and books to gather infos.
Good info people also trying to use the hobby as a get rich scheme and it's not for that it's to enjoy the history and something you can use to do with a son or daughter or someone young. Most people are not going to spend thousands on a coin.
Thank you, Daniel. Your videos are a service to all collectors, thanks for your honesty and insight.
I collect because I just love the feel of such history. I don’t care if there are flaws or wear.
I am also a bush crafter… meaning using skills to live in the woods. When I started I had to sift through all the must haves the streamers were insisting we needed in our craft. I caught on quickly to using common sense in what gear I needed and of course saw the money making schemes these “experts” were directing to me and other newbies I see this in coin collecting groups as well.
Good stream here. I hope many streamers catch on and raise the fun again in our coin collecting! Call out the unscrupulous!!.
Great informative video, I agree with you one hundred percent. These businesses take advantage of people's ignorance especially the elderly. Your right about the pricing of the sets the ment puts out, I have proof sets I bought for less money than when the set left the ment, some of which were released from the ment in the 60s ,70s, 80s and 90s. Thanks for sharing this information.
I agree with you man. As a young collector living in Canada I constantly see the Royal Canadian Mint overprice stuff all the time. It really is sad! I'll admit I've fallen for some of the overprice coins they've sold in the past and have since learned from those mistakes. But other people just starting out may not know the price they should be paying vs. the price they are being charged. Like my Dad always told me "the day you buy it, is the day you sell it" so try to think is this really worth it?
Excellent advice from ur dad.
Great video Daniel. I know exactly what you are talking about. Videos like this will help keep coin collecting alive. Thank You
Thank you Daniel, for all you do for us. I learned so much from you about what not to do without my thorough research about the coins before I put my money on them.
The late J.T. Stanton once told me that "integrity is everything in this business." I took that profound statement seriously then, and I still do today.
So do I
I started collecting since May 2017 at age 12, now I'm 15, I agree that collecting coins for the profit kills the fun, a hobby isn't a thing where you just want to only make money, a hobby must make you happy!
Yes, it must be fun. I have to make money but it's not a job. Thanks for commenting!
You know what your talking about, I have been collecting since I was 10 and its sad that most young people dont even know about coin collecting.
I agree with you man, and thank you for your great comments. Don't kill everybody hobbies of collecting coins.
TY for all the videos , I bought some bullion from SD cant wait till it comes. 5oz walking lib looks great. I just luv the looks and excitement I feel when I see walking libs. even bought 2oz and copper ones too. BTW I stopped ordering from JM good site but horrible service. I and my kid now 10 years old and we sit down and go through coins , she loves it. I think now everything is digital pay so younger people don't care anymore. Now trying to buy 1967 Kennedy half dollars I have 2 ungraded so far.
What’s killing the coin collecting hobby for me personally are the corrupt Third Party Grading companies! I will only really enjoy coin collecting again when my coins are graded in the most fair and accurate possible way! With no crazy human greed manipulation involved! Daniel, thank you so much for your refreshingly honest knowledgeable videos! You are the best!
I concur. I believe they undergrade on purpose, and I'm talking major undergrading. I just got hosed on 8 Morgans ,not getting PL, when stevie wonder can see the mirrors and frost...
TPG overkill
Buy the coin not the holder!!!
I'm a young beginner coin collector. I have been learning real quick that the online market place for certain items for me at this time is not worth selling. You're better off waiting for a coin show to pop up near by. I'm just waiting for that one coin that will change my life. I've started focusing on cents too start collecting and finding raritys and errors. Just placed an order for 3 boxes of pennies.
I'm 20 years old btw will be 21 in December. I was kinda brought into collecting coins by my grandmother. She bought my brother and I presidential dollar folders when they first came out. I remember getting coins up too 2011. Then foolishly we thought sugar and crap soda was worth more so we spent every single one that we had in our collection. I look back a realize how dumb I was haha it is what it is.
Thanks for you comment
@@CoinHELPu thank you for all the information. It's helpful too have straight forward information.
Hi Daniel. You have hit the nail on the head with the U.S. Mint. Not only is it the stupid amount of products being released, but the special labels issued by the grading services. Gradeflation is destroying values as well. The crackout game. One of my dealer friends had a Mercury Dime that was graded as the finest known. He sold it at auction a few weeks ago for $18,000. The dealer who purchased the coin submitted it to the same grading service as a walk-thru. The coin came back a half grade higher and he sold the coin the next day to a collector for $57,000.
I agree I see a lot of over pricing
I started collecting coins in the late 1960s. I don't even recognize the "hobby" anymore
A change came over the hobby in the early 1960s; ads in the coin magazines stressed coins as an investment, not a hobby. That took all the fun out of it. The same happened with paper money; what was $5 in 1990 is $50 now.
@@brushcreek42
Thank you, Now I understand!
It all makes perfect sense now😎
I hate how there pushing silver eagles as collectables it's just an ounce of silver to me.
Thank you for the information ! I need all I can get !
@@brushcreek42Be encouraged. I stack ASEs, and I just started collecting coins a couple years ago. I really like the pre 1964 US and any foreign topical coins. My coin collection isn't an investment to me. It's a collection of very interesting coins that have taken me on historic journeys as I research, and learn about the coins before I buy them. I'll never sell my collection. I'll leave it behind some day when I pass tho. Maybe someone can appreciate it and add to the collection , or sell it for whatever...perhaps a few steak dinners. I wont be around to be bothered. heh Presently, I sure do enjoy collecting them.
Well said sir - I am a veteran and the way that you're going after people using our system is awesome!
Daniel you’re a good, honest businessman with a true love for the hobby. Thank you for what you do.
Thanks
Like govmint.com sells a bunch of garbage for 500-1000% markup
OUR 25year old Son Liked Silver UNTIL He HAD to Choose between the NEW I -Phone or $1200 Saint Gaudens. WE Have Been Working On TRUTH INTEGRITY and HONESTY In Numismatic Coins Deserve Better!
You are so right! I love toget involved in the tail end of good things. My latest endeavor is coin collection. I was really excited about it. Now after dealing with the mint and local coin shops I feel stupid, used, and tired of it. depressing.
Thank you Daniel, this needed to be said!
This is a video every coin collector needs to see. The mint has even screwed up the Silver Eagle set with so many different renditions, no one can tell if they have a complete set or not. i.e., is there a 2012-S reverse proof, or was it just a Burnished Bullion? Or, is there a 2014-W proof, etc. Then there are the stupid grading companies with the First Strike nonsense, the signed John Murcanti idiocy--who cares? That's why I'm selling my silver eagles and sticking with older sets--BUT MOSTLY JUNK SILVER/BULLION. The idiots have ruined the collection hobby. This video is a MUST SEE. Thanks again for producing it.
That's why I always buy as close to spot as I can. I'll not buy collectables just give me the shiny stuff.
Seen lots of your vids. Thank you for giving us the information that comes with time, and wisdom. You don't have to do this, but you are doing the right thing, and I enjoy collecting.
I am actually going to watch as many of your vids as I can. Keep collecting fun.
Thank You! I have seen and said this for a Long time. Good for you to tell the truth!!
Grading is speculative.
I do see long time coin shops disappearing.
I believe part of the reason is young people are not interested.
The old timers are dying off.
I also believe that the only real collectable US coins are pre '64.
I absolutely agree about the pre-64 comment. Also, I am only interested in in real US currency. I have no interest in silver walking liberty bullion coins.
Thanks Daniel. I think people aren't educated enough when they start buying and spend to much. People like you try to explain about the coin world. People just buy like you said because some fancy pictures or someone saying you can't go wrong buying from me. That fancy package doesn't mean a thing except to drive the price up. You would think at this time with computers and more books people would take a moment and figure out if something is worth the money.
@@markdemell8056 It is almost like buying a car. There is an asking price and a selling price. One dealer doesn't want to deal another one will. Sometimes just have to walk away till another day
An honest and forthright perspective on the reality of the hobby! Take Care
For various reasons, including those you mentioned, most hobbies are dying. Take a number and get in line. No new blood...kids not interested in getting into collecting "things", they just want apps.
It not as it seems, some hobbies appeal to younger folks, coin collecting has never been an exclusive hobby for kids or youth like comic books or toys. People say the young are not interested but they never really were, it is the middle aged generations that are not interested. All they want is four wheelers, cars, campers and such.
Same thing in the Comic Book business; glow-in-the-dark covers, embossed covers, females with impossible measurements, etc. And overpriced.
This video was 100% spot-on. There was an Asian kid that binged played video games and had a stroke then died. Look it up!!!
what does a kid dying from games have to do with anything related to coins?
If you were paying attention to the Speakers' message you would have heard the part about kids playing HOURS per day playing video games. If you are not a serious coin person anything I post here should be of no concern of yours.
Quintessence Productions, LLC LMFAO
Stop Trolling Daniel's channel
Quintessence Productions, LLC do you even know what trolling is, mr boomer who likes his own comments
A tip for people who have coins they take to the bank to cash in. My father had a large amount of silver dollars, Morgan's and Peace dollars, a few years ago when he was around 90 years old and he took them to the bank and cashed them in for face value when silver was about 17dollars an ounce he had a little over 100 of them. I found out a couple of years later and I got angry at the bank, I know that they couldn't give more than face value, but most of them were over 100 years old. I think the teller knew they were valued more than face just because of the age and condition of the coins and they should have told him. Sad to say that there's a coin shop two blocks away from his bank. He passed away March 18 2018 at 95 years old. He lost more than 17 hundred dollars just the silver content. You have to watch who you buy from AND WHO YOU SELL TO.
I feel for you! But he didn't lose as much as you think. There is only .773 of an ounce of silver in a morgan or peace dollar. Still a tragedy though.
Your honesty and integrity is refreshing, thanks for what you do.
Thank you
Coin collecting is still alive and well in the UK. But some people are getting dragged into the hobby, leading to all sorts of negative effects. Coins have to be recycled because people bury them in their gardens, people try to sell coins worth a little over face for a million, and millions of counterfeits are circulating. I like the coin hunt 50ps, but the collecting is crazy.
Thank you so much. Maybe the US mint is selling some crap but I liked the Apollo 11 commemorative. Yes, I have looked at the modern commemorative coins and most look like crap. I do agree that the silver proof sets may not been the best investment but I like the proof Native American series.