How Coin Collectors Can Hurt Loved Ones When They're Gone Coin Shop Website portsmouthcoinshop.com/ Go to our help community here for coin help coinauctionshelp.com/forum/index.php
@everettbradley3901
2 жыл бұрын
I checked that 1865 3cn on NGC verification. It is listed as PR0 with a value of $15. Amazing what people buy. The case is probably worth more than the coin.
@alfredparsons6811
2 жыл бұрын
I’ve seen this so many times while hanging out at the local coin shop. People come in with this stuff, my friend has to give them the bad news. I’ve seen people get mad at my friend, accuse him of trying to cheat them.
@everettwhite9874
2 жыл бұрын
Those people definitely need to watch this video.
@zzygyy
2 жыл бұрын
Tell them, Google is your friend.
@user-yc9eo8ju3d
2 жыл бұрын
@@zzygyy Absolutely true. Tell people to do their homework, before they throw their money away. As a lifelong coin collector, I cringe every time I see these criminals taking advantage of people.
@craigfiebiger1730
2 жыл бұрын
I was in a customer home and I saw some of those Danbury sets in her office when she was writing me my check. She had a 5 coin Morgan Unc set of common dates. I told her I was a collector and she offered me the set for what she bought it for, $2500.00. I was aghast and declined her offer. At the time I could have brought them for about 200. She was advanced in years and I felt real bad for her.
@avardcurt2658
2 жыл бұрын
My Dad did the same thing. When he passed, it was my job to go through his coin collection. What I found was many coins such as these. While he had coins worth a little, the overwhelming number of items were junk in fancy cases.
@phononut
2 жыл бұрын
$189! That's outrageous. My family doesn't have to worry about cashing in on my collection when I'm gone, I'm taking it with me.😁
@stardust949
2 жыл бұрын
lol!
@roystroble3354
2 жыл бұрын
Gotta pay the boatman
@kevinpoggensee3044
2 жыл бұрын
Recently went through the same thing with my deceased uncle. He had bought a bunch of junk from the American mint.He had all these worthless coins in his safe deposit box. So on top of all the money he wasted on his collection he was renting a bank box to store them as well.
@andyreznick
2 жыл бұрын
Yeah, any retail business that calls itself a "Mint" deserves instant opprobrium.
@MorrisDugan
2 жыл бұрын
You mean "American Mint" as opposed to the actual, official U.S. Mint? Or he bought official stuff that was overpriced?
@BusyBeeCompany
2 жыл бұрын
My neighbor found out I was a con collector so got out his half dollar stash to shop me, he'd collected them for years, I had to break it to him that they were all modern clad, he was 70 years old and thought he had a rainy day fund but he had maybe 500 dollars of clad..I showed him how to collect and roll sorting so he coukd start with some information but that was heartbreaking to tell him he'd wasted years getting face value half dollars.
@mahaffeyjason9643
2 жыл бұрын
A fool can be born every minute, ones that can fool a fool can be born every second.
@lindashipley4428
2 жыл бұрын
You are the Most honest person I ever get to see thank you Daniel.
@mattoakley2246
2 жыл бұрын
Leave your loved ones a note telling them where to go and whom they can trust to be fair to them. When things like this happen it's so unfortunate.
@teatowel11
2 жыл бұрын
If you know you are on your way out, sell your collection. Leave your loved ones the cash, they will apreciate it more. If they are not collectors, leave them item at most to remember you by.
@KingCutlet
2 жыл бұрын
I own an auction house. This isn’t a problem specific to coins. I see this every single day.
@ickster23
2 жыл бұрын
The graveyard is filled with indispensible people, and the landfills with priceless artifacts.
@MrEvtmazda
2 жыл бұрын
@Ban this youtube sport memorabilia has made a slight comeback. I need to go through my collection and then have a nice bonfire in the backyard with most of it
@kscoins4787
2 жыл бұрын
Nicely done sir! I'm going to share this with at least 3 people in the hobby and ask they share it,because it's a VALUABLE message. I appreciate your humble teaching spirit ONLY looking out for others!!! Kudos and I tip my hat!
@benerval7
2 жыл бұрын
My dad was into the same stuff. He always said he had a trunk of coins that were worth a fortune. He passed and we had to sort thru his stuff. He had around 200 bucks of coins that he paid over 5 grand for.
@stardust949
2 жыл бұрын
I'm horrified by the Danbury Mint "deluxe" box! $189 for THAT? Yes, it's a nice box---ought to cost maybe $25 tops---with the added face value of the coin rolls. I've "collected" about 30 of the Washington Crossing the Deleware quarters---they're circulated, sure---but very bright, clean, and new. I stuck them in an empty tube and just squirrelled them away, and I figure that maybe in 20 years (or so) my family might get a kick out of them. I think this is a very kind video. Publlic Service Announcement.
@everettwhite9874
2 жыл бұрын
That’s a good idea for stacking as many as you like of the circulated Tuskegee Airmen, Washington Crossing the Delaware and the 2022 Women Quarters. Get them from a bank before they are damaged.
@rubies200
2 жыл бұрын
@@everettwhite9874 You can just go to a bank and ask if they have any?
@MorrisDugan
2 жыл бұрын
@@everettwhite9874 Or get lots of half dollars, because occasionally one will be old enough to have some silver. Better to sift through them periodically, though, because there won't be many silver ones.
@MorrisDugan
2 жыл бұрын
@@rubies200 Depends on the bank, and how old is the coin you're seeking.
@e-curb
2 жыл бұрын
You should spend those quarters. I recall back 50 years when I was a kid collecting coins. A commemorative coin was put into circulation and all the adults were talking about how they were going to save them because they'd be worth something some day. I started saving them too. Then I looked up the mintage figure, 100 million were made. As soon as I saw that, I spent them. So far, they are still worth only face value over nearly a lifetime later.
@Bradley-xp7zm
2 жыл бұрын
My papa bill bought a bunch of copy/fake coins from TV ads back in 2006-2008 and to this day I wonder why he would do such a thing after decades of collecting genuine valuable coins and understanding the difference. When he passed apon checking the coins not only were all of his recent coin purchases from TV ads which were copies… they were also damaged with artificial toning. It looked as if they sprayed the toning chemical on the coins prior to sealing them in the graded holders. Which to my knowledge were probably BS holders but long story short Daniel is correct it is very disappointing to think a family member was in essence “swindled” or tricked into buying overpriced worthless items. Shame on those folks for tainting our hobby with this crap
@coganmedia
2 жыл бұрын
My 80 plus year old widowed aunt was similar to your papa. She was an educated life-long collector who got me into the hobby as a kid and left me some valuable additions to my 19th and 20th century copper and silver album's and stacks. Prior to her passing at age 94, she remarked "it would be good to have some gold" and, well, she bought some, mostly from magazine ads and over the phone, and she was overcharged dearly by some unethical salesmen. Why? She was lonely, bored and becoming increasingly demented and a vulnerable victim to friendly, professional sounding, smooth talking content men who found this sweet elderly lady to be an easy mark for scams.
@mikedipaola
2 жыл бұрын
My heart goes out to you Daniel when you speak of this situation happening to you over and over with crying customers. ❤️
@dalestoner2928
2 жыл бұрын
Make a two part inventory. On one sheet list stuff that is has very little value. Another sheet is collection that should be taken and appraised. Keep the inventory sheets updated if you buy more. Make sure a family member is aware and knows were you keep it.
@ickster23
2 жыл бұрын
I also have a couple of recommended dealers who know my name that they can take the collection to. I'm into ancients, so it's a bit more of a niche market.
@jamesruddy9264
2 жыл бұрын
This can also cause bad blood between family members when one gets the coins and the others think they're of great value...Like my Dad's collection of gold coins that I got. They were those gold clad quarters. I told my family they could have them if they come over to get them and was told, how do we know you didn't take most of them for yourself and are only going to give us each just a few to keep us off your back? I thought that was amusing, so I told them I changed my mind and will keep them all since they're worth a lot of money. Anyway, I collect my own coins and told my only daughter they aren't worth much at all, though some will add up to a bit of cash but not much and showed them all to her and explained them in detail so she knows what they are.
@joelp6197
2 жыл бұрын
My old boss had me go to the dump with a pick-up truck with sideboards filled to the top with collector plates. You know, the ones you see for sale in the back of magazines, $9.95 to $39.95. His mother in law died and nobody wanted them, she had got them in the mid 80's and 90's. 500+ plates. I said i couldn't bring them to the dump, he said keep them. I gave most away and i have about 100 or so i liked. very little money in them, If i wanted to take the time to list them on ebay i may have gotten $5 each. Everyone got a plate for x-mass that year, all were in the shipping boxes and had all the paperwork, she paid $9.95 to $60.00 for each for them.
@josephcampagnolo157
2 жыл бұрын
A very wise article here. I have witnessed a couple of times while I was shopping in a coin store other visitors, who had little knowledge about collectible coins, find out that "valuable" coins were not really very valuable. Sad. My father's best friend bought coins in the late 70's and early 80's through a "professional" coin investment firm's program. (Remember those?) Sometime in the early 90's he asked my father if he could help him figure out what his purchases were worth. By then coin values had sagged after inflation had burned out and the coin exchanges had collapsed -- a great time for true collectors but not good for investors. Anyway, my father and his good friend took the latter's pieces to the local coin store, and the dealer gave them an appraisal. In his opinion all the coins except for the most valuable one (a gold piece, something like an early D or C quarter eagle, I recall) were genuine coins, a few were cleaned, but none of them were more valuable than the purchase prices. The dealer was not sure if the most valuable coin was counterfeit, just suspected it. Anyway, the program was not a success. Gold and silver coins are a good hedge against inflation as long as you are buying when the bullion prices are relatively low or aren't spiraling upward. And, then, why did he not buy government bullion coins, even the Krugerrands popular in those days, and just stay away from the premiums payed for collectible coins of which he was ignorant? My father's friend probably lost some tens of thousands of dollars. I know that what is being discussed by CHU here is not precisely related to my story but it is still another warning of caveat emptor. They used to say buy the book before the coins.
@sharonh7220
2 жыл бұрын
Beautiful sets but I wouldn’t dare pay $729.00 for that last one although it’s my favorite of them all. I guess I smartened up bc at one time before watching coin videos I probably would have gotten sucked in with all the hype. Thank you for sharing all your knowledge with us and I enjoy watching your passion to help others🥰
@brianfield58
2 жыл бұрын
Great video, I collected coins as a child and I just saw this in my feed. Brings back good memories. 👍🙂
@Kenpoman999
2 жыл бұрын
Excellent vid(as are all of yours!). This one hits home with me as I have been collecting bullion and coins for about 10 years now and came to the same realization a few years in. I was buying alot of "stuff I like" and when I started looking at the entire collection, it hit me that this is not really worth what I was putting towards it. I decided to add to my "stuff I like" pile more things like 10oz bars(Sunshine Mint rules!), rounds, and American Eagles. I still have about 10% of the other stuff but my 1000oz collection now feels worthy of leaving to my children.
@haigha7697
2 жыл бұрын
Great segment. I have a few boxed coins and some libertads. I told me daughter to look up all my coins when I die, since I overpaid for the boxed and also the libertads but I bought those because I like em.
@astralclub5964
2 жыл бұрын
I have a detailed inventory of all my silver and gold along with instructions (I was a coin collector as a child) so I know not to buy garbage. My instructions include typical buy/sell spread pricing, and I even have Daniel’s information as an honest dealer.
@mindseyeproductions8798
2 жыл бұрын
Thank you for the consistency on helping the public; just like this video.
@studentoftheword6115
2 жыл бұрын
This is so sad. Thank you Daniel for informing the world about this.
@jeemalsoknownasjimhawkins1294
2 жыл бұрын
Daniel: I almost died laughing when you talked about the "deluxe" collector rolls. Gosh, I guess I have an "exclusive" coin collection (exclusive to me, anyway). Thanks for the laugh and the very informative video. Cheers.
@andyreznick
2 жыл бұрын
Just about as "Exclusive" as my pocket change.
@johnshoosmith
2 жыл бұрын
You make an absolutely great point. My meager collection is worth didly, and now I'll be sure to note them as such. I appreciate your insigtful videos generally.
@MarkA-Coins
2 жыл бұрын
Thanks Daniel ! VERY sound advice. Never bought from those companies before. Don't see me doing that in the future either. The packages look really nice and that sucks people in..then throw on top, LIMITED quantities and an EASY payment plan...and the fish is on the hook. Definitely leave notes about your collections.
@Ziegen-Sauger
2 жыл бұрын
The boxes are bloody BEAUTIFUL!!!! I am a collector first and a flipper second. If I want to display "a" set I look for a beautiful box and, usually, have them black foams you can cut any formats. But it is for stuff I collect since I was a kid, mostly Silver. However, it is not unusual to find those things in yard sales and similar, at the end of the day the poor souls sell for like spot? But those boxes ...
@cgrillerstacker6695
2 жыл бұрын
Excellent video. Great idea leaving your heirs some sort of note regarding the real worth of their collection and why they collected it. Like you say the real value of a persons hobby is the pleasure derived from it not what someone will pay for it after your are gone.
@ericadams6071
2 жыл бұрын
Love the video with very simple content and great/accurate information. Thanks
@Zerostatik
2 жыл бұрын
Thus year my Dad and then a few months later my Mother in law passed away. We had the same kind of issues with things they were keeping. So many little collections from random mints that are worthless. At an rate it forced me to educate myself a bit. I've watched Magic the Gathering cards my whole life so I'm always wary when someone try to pump a "collector" box, usually it's mass produced garbage.
@lowerearthorbitz3693
2 жыл бұрын
Just being left something from your loved one or family member is much better than hearing, "not for any lack of love or affection, I leave my children nothing." That cuts deep and shreds you as a person💙
@CoinHELPu
2 жыл бұрын
The worst thing is leaving non-coin collectors coins to deal with, that's not a good idea, unless you leave detailed instructions.
@buckroger6456
2 жыл бұрын
Good video. I like to think that almost all of us have done this before. I know I use to buy some of these many many years ago. What normally got me was the payment plans.
@bigtxbullion
2 жыл бұрын
Fax 👊 Id extend this to mention most family members (older kids / grown adults) ive met dont want to deal with divestment of coins. They dont appreciate or share in the enthusiasm "wish he'd just left us money" 😪 😔 oh well
@davidp.5598
2 жыл бұрын
Sir, you have given VERY good advise. Everything you said was absolutely true.
@stephendowling6200
2 жыл бұрын
Great advice!! Thank you again, Sir 👍
@cancelbubble6535
2 жыл бұрын
The silver certificate in the box is actually pretty cool, especially if you can pair it with a gold certificate. The presentation of those in the box on a desk would be actually very nice. But you're paying for the presentation. The Civil War era coin set is very cool, too. Again, nice presentation on a desk with the box. For this set, you're paying for the presentation and the convenience of getting the coins rather than hunt them down on your own to find the best quality you can afford. Some people love the hunt, others just want the set.
@stillsain532
2 жыл бұрын
Love your honesty ...Keep up the good work
@safety1390
2 жыл бұрын
Very good Information. You bring a great point and something to pass along. Thanks
@bluegrassengineer
2 жыл бұрын
Well said! These companies need to be exposed. They are not doing anything illegal, just unethical.
@numismaticstacker
2 жыл бұрын
Great discussion! Your so right about these sets being over sold and prey on the Elderly
@paulbruney1704
2 жыл бұрын
Have a great day sir! That's sad! Especially if someone is grieving and think they've got something worth money.
@Numismaniac_Canada
2 жыл бұрын
Good advice Daniel. Thanks for the share!
@quietwaters1113
2 жыл бұрын
NICE JOB DANIEL TO KEEP US INFORMED THANKS FOR GREAT INFORMATION ALL WAYS BUY FROM A REPUTABLE DEALER LIKE YOU 👍
@CoinMan5000
2 жыл бұрын
Great video, I’ve been in coin stores and seen ppl bring in stuff that they thought was worth a fortune
@duanedas5346
3 ай бұрын
See that why i like watching your videos.....your helpful
@glenstacking9667
2 жыл бұрын
good video man! this is good to remember. Thank you
@dennismorris3254
2 жыл бұрын
Thank you for doing this video I will show this video to people that want to sell me there coins and there is alot of these box sets .thanks
@YoutubeSucksEggs
2 жыл бұрын
Sad to see people getting scammed like this.
@profsakharov1191
2 жыл бұрын
Solid advice for the numismatist. Setting your beneficiaries straight that way would save them the embarrassment of public disappointment, and save any dealer they approach with their bequest the difficulty of having to inflict that disappointment. Though the advice does also serve anyone who has the kind of relative who makes no effort to hide their keenness for such a demise, and the thought of perhaps turning that treasured collection into an Italian Supercar or something similar. For this purpose, further advice would be to drop hints about what a wonderful investment their purchase has been, perhaps with the odd favorable comparison to Tesla or Apple shares. And ensure that the dealer recommended to the beneficiary by his benefactor had been properly primed for the event. Maybe ooh-ing and aah-ing over the collection for a while before "revealing" that they couldn't really afford to purchase a collection so far out of their league - "you want Sotheby's, mate.**" ** a common remark in British antique shops when a wannabe has brought in some common and/or worthless object in the belief that it has enormous value. .
@jshound1508
2 жыл бұрын
$189???? That's insane! Thank you for all of the informative videos!
@sn7991
2 жыл бұрын
I did buy one set from HSN and luckily that was my first and last. I also lost $400 on a online scam during my early days here. And since, never trusted any online deals. There may be genuine people out there, but I don't deal without seeing the item in my hand. I learned these the hard way. Should have done some research before committing on those purchases, but I was stupid enough. I don't regret anymore as I learned a valuable lesson. May be my lesson came with a price. Not all come with experience.🤷♂️
@jonwick4924
2 жыл бұрын
Sound advice. Thank you
@thesarge4457
2 жыл бұрын
Thank You so much for this video, I have friends that do this kind of stuff, that's what they like, well that's what they like. Such as life. Thank You Sir.
@jimmyju76
2 жыл бұрын
My dad loved coin collecting and only did it for fun, he didn't even expect to get anything for his coins, but honestly i wouldn't mind getting them appraised to see if he had any hidden gems
@revgregory
2 жыл бұрын
My brother went through a long bout with cancer and used to lay around watching home shopping channels. When he passed away with his bank account literally down to just a few dollars and I started going through his stuff I was absolutely stunned to see a bunch of recent date boxed liberty and peace dollars. Neither of us is a coin guru but we both did some research over the years and we had discussed what a ripoff those things are...so rather than him leaving a few bucks in the bank for me to use to deal with his funeral expenses I got a bunch of $70 coins that I value right around melt. There were some other items like that involving stamps and stuff also, just seeing the names of the companies on the boxes led to instant disappointment before I even got to the contents...LOL!
@tedsmith5058
2 жыл бұрын
Hello from the great state of Michigan. Thanks for the education Daniel
@southerncanadiancoins757
2 жыл бұрын
i feel bad for people who get tricked into buying stuff like this thinking its a treasure trove sadly that's not the case
@Kenlydford
2 жыл бұрын
You’re so right! Also resist most Facebook adds if you’re new to buying.
@Troglodytemtg
2 жыл бұрын
I also really like the civil war era coin display. If I could find that box I would do exactly what you said haha
@markkotishion2379
2 жыл бұрын
My buddy had a lot of Franklin mint ingots his mom bought back in the 70's. Each was an ounce of .925 silver, I drove him to the local pawn shop. The pawn shop man told him what he would pay. In other words scrap. My friend got indignant with the guy, "these are Franklin mint" I told him they were only worth metal weight. The pawn shop owner said "listen to your buddy" I reiterated take the scrap money",he did. At that time silver was 18.00 an ounce, he had over 150 of these ingots. He was able to pay his Bill's and buy groceries.
@neverstop9731
2 жыл бұрын
This just reinforces my personal standpoint on never buying from these online shops. Ive got a local guy that does old american money of all kinds. Ill def stick with him after hearing stuff like this.
@bbfreetube
2 жыл бұрын
Great video for those that don't know.. Good on you
@My_internet_persona33
2 жыл бұрын
My grandfather did the opposite. He left me a giant box of random junk silver and a silver certificate just hanging out loose in the top of the box. Score.
@janedoe-hq9vn
2 жыл бұрын
I am appreciative for this information. Realistic. The coins I leave behind will hopefully go to someone who appreciates and enjoys it, and maybe wishes to add to it. ...I may leave a note, just in case...lol
@devinjenkins4752
5 ай бұрын
Never met a real collector who buys stuff like that and never will. I've seen grieving widows realize they were left nothing worth what they were told and cry with a passion beyond words and it gets to you too cuz you are the one who has to break the news to the person. Scammers are a sad breed.
@kyleflounder9783
2 жыл бұрын
You're so right on this whole hurting family members thing. The immense disappointment of finding this stuff only to discover it's worthless without them warning you is sad. I found an envelope in a mountain old photos that contained a giatn V-nickel _MOCKUP_ piece. It's just a larger version of a V-nickel with [COPY] stamped into a small part of the reverse design. However, the envelope didn't care to mention this and I'd never seen a V-nickel before, so I thought I have a genuine, mint-state V-nickel at first!
@BrassHammer
2 жыл бұрын
Why do reputable magazines like AARP and The American Legion allow unscrupulous companies to advertise in their magazines when their target audience are retired folks that are unknowingly scammed into buying this garbage?
@tbjtbj4786
2 жыл бұрын
That is simple. MONEY
@profsakharov1191
2 жыл бұрын
The usual answer - money. One would think that, given 70 years or so of life experience, "retired folks" would be the ones to recognise scams before most. But with all safeguards enacted there will still be those who fail to pay attention to the large print, let alone the small. I know zero about stocks and shares, so if I were ever to require any I would seek out the advice of someone who does know about them. Anyone who would just dive into the deep end really does deserve the sharks awaiting them down there. .
@ItsSusieQue96
2 жыл бұрын
It’s not that simple…even “reputable” companies have stepped into marketing coin “subscriptions” via the ever mundane junk mail flyers. Part of my Low Dough Coin Collecting Show tonight was about “Mail Order Money” where I went ahead and ordered the overpriced packets offered by LITTLETON….yeah the folks who’ve been selling you coins and albums since 1945….
@cathrynm
2 жыл бұрын
Maybe -- it's just those magazines aren't as reputable as you think.
@jeffkeylon2033
2 жыл бұрын
Good afternoon Daniel, I great video and advice. I've seen sets with V nickel and buffalo 2 pcs sets for way more than they are worth
@liamfoxy
2 жыл бұрын
This why I, A: stick to mainly bullion silver, aside from a few pieces that I just think are pretty, and B: have let my grandfather know about my stack, so that if anything happens to me, at least one person knows where the metals are, and how to distribute them.
@orthogluchensnable6777
2 жыл бұрын
Been there done that my father wasted thousands of dollars with this B.S. they sale to people tried to move it for my mother after his death she was so upset at the money he wasted based on there account of it collectibility tried to tell him it was just a scam to get your money.thank you for your video maybe you will save another family from some heartache .he also fell into the stamp scam as well
@sidcolwell7479
2 жыл бұрын
Collect for fun. I have both coins and stamps. I've told my sister contact the local clubs. Sell to them. Get a little more than what a dealer may pay. Will they be honest hopefully. It is a hard thing to do. Or just get buried with everything. 🙏 Great video like always.👍
@jasonglisson1690
2 жыл бұрын
I usually only buy for. I especially don't buy fancy. I've bought a few over priced coines because I like them.
@biggsmpbiggs4045
2 жыл бұрын
Thanks for the info.
@erwinwheeler124
2 жыл бұрын
That was an awesome video keep up the good work I cannot wait for your new ones and I do have subscribe to your channel.
@beachball-kf5hz
2 жыл бұрын
Very good advice.
@andyreznick
2 жыл бұрын
All hail click-bait with immense advertising bling budgets! The "commercial" I had to get through to your video was from Littleton. Oh well, could've been Bradford Exchange (Motto: "Exchanging Your money into Ours!"). Excellent topic. I volunteer part time at my LCS. She gets some free help, I get continuing education. I see this A LOT. All my stuff is on a spread sheet. One of my kids knows how to read some collector jargon, has seen the collection, has at least a basic idea how to liquidate it with reasonable expectations, and knows the LCS I deal with for honest treatment.
@ItsSusieQue96
2 жыл бұрын
You need to watch my Low Dough Coin Collecting Show from tonight-it had a segment about the Littleton “subscription” coin sale packages currently being advertised in your junk mail right next to the “I’ve fallen and can’t get up” buttons and walk in shower stalls….
@N2tech
2 жыл бұрын
I had the opposite happen, my father-in-law passed and left a load of old silver coins and bars and I have no idea if he may have collected something worth something. None of it's labeled and mostly in old cool whip bowls.
@lionofjuda6941
2 жыл бұрын
You are Awesome!love your content!! 👍
@josepchwill1304
2 жыл бұрын
Thanks for another video.
@frankthespank
2 жыл бұрын
A friend of my Mom’s father passed away and he had a huge box of knives, “collectors knives”, like the kind you see sprawled out on a table at the flea market and each knife is $5 and you can usually get them down to $2 if you buy a few at a time. The same set that’s on “The Knife Show”. All those various wall hanger knives made out of chromed pot metal that have dragons painted on the blade and you can buy 100 of them for like $99.99. There will be a “big” knife and a bunch of little folders and they’re all from China and garbage. She thought she hit the jackpot, her Dad sold these knives at the local flea market and he had them labeled for WAAAAY too much, dinky folders for $20, the “big” knife had a price tag of $100 etc., just WAY over priced for Chinese junk knives. I collect knives so she came to me first, she got mad and argued with me. I told her how much they’re worth and she’s all “nah-uh! See, this one says $30!” and I showed her the same knife for $5 with free shipping on eBay, she still didn’t believe me 🙄. I even turned on the TV and The Knife Show was on (it’s always on, lol) and they had a huge set for like $129.99 then dropped to $99.99 and I told her to do the math, if 100 knives is around $100 then each knife is worth about a dollar, she said: “Nope. These are worth more.”…. Apparently she took her fathers knives to another “expert” and got the same appraisal that I gave her, she never brought up those knives again, LOL
@CoinHELPu
2 жыл бұрын
it is a sad reality.
@946towguy2
2 жыл бұрын
I go to estate sales often enough. While some are looking through the shiny junk, I go to the kitchen and basement looking for antique cutlery and tools.
@seanoconnor1478
2 жыл бұрын
It's hard enough to get decent money for nice knives, let alone that junk...
@auntrayjones39
2 жыл бұрын
I’ve explained to kids why and how I stack. I don’t hunt quote rate coins etc. I use my classy Crown Royal bags for my coins
@Thedominator-tr2su
2 жыл бұрын
That’s something my dad would use for coins
@TheSimba86
2 жыл бұрын
I have seen this happen, people come in thinking they inherited a nice collection from Grandma and then they find out the coins she spent $50,000 on are worth $1000
@MichaelEFinds
2 жыл бұрын
I definitely feel bad for the families that are left Wondering why the value of theses types of inheritance items can never be realized. I was gifted a 'Subscription' style Collection. Luckily the Subscription got canceled after I had a discussion with the gift giver. Thanks for putting out such valuable content Daniel 👍
@ItsSusieQue96
2 жыл бұрын
I just touched on “mail order money” subscriptions on my show tonight after running across an ad in my junk mail coupon flyer. Since this one was returnable I ordered it just to show people what you actually get and pay for.
@glenns.2676
2 жыл бұрын
Great video! What I see very often is that when it comes to coins, people often assume that age or oddity = value. Had a coworker who saved a roll of circulated bicentennial quarters, and he asked me what they were worth. I told him $10, LOL
@paulhare662
2 жыл бұрын
I'm old and rather odd.
@swmovan
2 жыл бұрын
I started saving them, from pocket change, because that was the year my daughter was born. But, I have never bought any that were uncirculated, as I know they are still everywhere. I think I have 3-4 rolls of them, by now.
@silvertrain57
2 жыл бұрын
@@paulhare662 ...and valuable
@swilliams937
2 жыл бұрын
That box might be more collectable than those Crossing the Delaware quarters in fifty years time!
@georgematthews2877
2 жыл бұрын
Good Evening Daniel!! 🍷 It can't feel good to you either to have to watch a disappointed grieving family member cry!😪 I can't guarantee that my family will ever receive more than what I have put into my collection. It depends on numismatic market forces, of course. But I can guarantee that I won't be leaving them holding a bag of that kind of crap!!!!🤬
@blake7587
2 жыл бұрын
That Civil War coin set is actually really cool! The price is not cool at all. But if it was at the right price it would be awesome! Imagine if your child or grandchild is in school learning about the Civil War you could show them those coins as an example of the money used back then and point out that some are silver because back then silver & gold were money. Then explain modern fiat currency to them. It is a great learning tool. My mom was a 5th grade teacher and that set would’ve been great for her classroom since the coins aren’t too valuable and could be handled by children without worry of damage. Even if it was stolen it wouldn’t be too big of a deal if bought at a fair price.
@bingo7799
2 жыл бұрын
I love the box that that shiney thing came in. Lol.
@chrisstanford3652
2 жыл бұрын
Great advice 😇
@cweedcoins1640
2 жыл бұрын
they are nice sets but you are right way to much money I have been collecting over 50 years and I tell my family my coins are worth the face value that is on them I collect for the fun of the hobby although there will be some value for the silver coins I own
@usaalways1869
2 жыл бұрын
Thanks ❤
@Oscar-of5ni
2 жыл бұрын
Great advice
@chrisfreeman4876
2 жыл бұрын
True information. All of these kinds of things you should consider money wasted. I would turn it around, and challenge collectors to not buy such overpriced things and concentrate on collecting in areas with more real value for what they spend. As for when I am gone, its all in SDB and there is an address inside directing my wife which auction firm to send it all to if she wishes to sell them. Told her to wait a year and they will mail her a check. I do consider any money spent on coins as "hobby money", but also am cognizant of buy sell spreads and try to not be a sucker.
@michaelminauro4180
2 жыл бұрын
THANKS
@veruspatri
2 жыл бұрын
Told the wife the silver bars are an investment and may even wealth preservation, but the coins are a passion. I buy the odd neat coin from SilverGoldBull, but mostly directly from the Canadian Mint itself. When it comes to coins I buy them for their uniqueness, and the quantity minted is another big factor for me. Quality is pretty much guaranteed from the Mint.
@johnlongshore9660
2 жыл бұрын
thank you..
@IP0Monsturd
2 жыл бұрын
I watch various tv coin hucksters for laughs. One guy was selling a kilo silver bar. I found that exact bar for almost 400 dollars cheaper. It took me all of 30 seconds.
@jimweber5323
2 жыл бұрын
Outstanding video keep up the good work! What is your opinion on the plethora of US mint products?
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