Has anyone here bought from GovMint.com

Hey guys long time no see lol. My friend recently told me about this company called Govmint.com, I just got my catalog from them today 3/11/13. While looking through it I noticed the prices are a little high and there's no monthly payments like Littleton has for example. I also noticed the more you spend from GM the higher the shipping cost is. I just need to know if this company is legit and worth buying from? I'm just used to Littleton but I wouldn't mind trying a coin/currency companies. I was a little hesitant with Littleton at first and so far so good. So is Govmint.com worth buying from or should I just stick with who I know?

Thanks.

 

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They rarely have anything that is a good deal (same with Littleton unless it's those loss-leader promotions, just make sure you cancel the On-Approval Service as soon as you get the cheap coins). I use GovMint catalogs for bathroom reading, along with those from Littleton. Check out apmex, provident, gainesville, silvertowne, etc.

 

Those other companies you mentioned are they legit?

 

The above mentioned are generally considered some of the top sites for modern coinage, bullion, etc from members on this site. I myself have used mintproducts and panda america without issue. The only site I can tell you to avoid based on personal experience is mount vernon coins. Others can chime in with those sites I am forgetting to mention. You can also search the forum for this topic as it comes up frequently.

 

Thanks I can now tell my good friend who to buy from and who to stay away from.

 

They are owned by Stauer and their coins are overpriced.

 

In most cases it's seems best to avoid coins in flashy brightly colored glossy ads. Those ads cost money which means more overhead for them which translates to higher costs for you.
Source: Warman's U.S. Coin Collecting by Alan Herbert

 

Never bought from govmint.com, something just did not seem right when I was looking at their site. And this was before I started collecting coins, and sure enough I found out quickly how overpriced they are.

Try out some sites like Apmex, Provident Metals, Mint Products, Modern Coin Mart.

 

I was just on their site. $79.95 for a 1909 V.D.B. Lincoln cent in B.U. I could get the same coin if I wanted it in the same grade for less than $40 (assuming they mean MS-63 and not MS-60) from almost any other dealer. Which means I could get two for around the same price they're charging for one and maybe even still have a little money left over afterwards. If it's MS-60 i could get maybe 3 from any other dealer for around that price and still have a little money left.

 

Another one. 1865 nickel 3 cent piece in F: $39.95. I could get one in EF for around the same price.

 

Their prices are far too high compared to competitors. They show a 2006 p Silver Eagle reverse proof coin listed at $595 at PCGS rating of PR 69.

I just bought one for $139. I also see that plenty of the exact coin are listed at or above that price but no where near $595.

That is a very excessive profit by any measure. I realize they like to print expensive catalogs, but I cannot buy coins from a company that treats it's customers so poorly.

I think a lot of these huge coin sellers that advertise all over the web and tv are simply out to sell overpriced coins to those who do not know better.

 

I get email spam from them every day.

 

Holy necro thread diggin' batman!

 

I don't know if the analysis of these dealers is still accurate three years after they were made. But you are right on the money as far as the TV peddlers go!

 

My VF cost $10 on Ebay. It has nice lines on the III. It is not graded though.

 

The post about "brightly colored glossy ads" is still dead on. I'd even extend that to cover any kind of ads in national coin publications. I live within driving distance of a dealer who advertises nationally, and, while he's a stand-up guy who's been in the business forever and he has excellent quality material, his prices can leave a bit to be desired and he doesn't haggle.

On the other hand, if you see reasonable-sounding prices in a full-page ad in a coin publication, my guess is what you'll receive is probably not quite what you expect.

 

I'm very happy with the 10 ASEs that I just got at $16.95 each, with free shipping. Waiting for the next 10, along with an NGC MS-70 $5 Gold Eagle ($169) to arrive next week.

Other than that, yeah, their prices are high.

 

As far as these really big dealers with their ads go, it strikes me that they at least somewhat defy economics. There is only a finite amount of quality coins -- either slabbed or untampered raw coins -- on the market at a given time. To have such a large stock almost requires the marketing of dreck, such as cleaned "brilliant uncirculated" coins. IMHO.

 

The dealer I'm thinking of has run the same type of ads since at least the 80s, and probably longer: no pictures, just a gigantic text list. And, I've seen his stuff. His "BU" doesn't mean "butt ugly," and he doesn't sell cleaned stuff without mentioning the cleaning.

 

Hi, may I ask where do you buy your ASEs?
Thank you.