Why sell COA's

[davehard24]

I am just wondering why any company would sell these on there own? I am a newbie here and just wondered how much weight does a COA give to a product, having recently read BYB's 001 COA on his platinum coin. Any thoughts would be great. Thanks.

 

https://www.thelondoncoincompany.com/store/Certificate-of-Authenticity-c41215955

[HelpingHands]

I'll guess that they had sent the coins for grading and are now in slabs so trying to sell any leftover packaging, coas, etc//.

[davehard24]

@HelpingHands

Yeah I guess that makes sense, but why would anyone want to spend that kind of money on one? Just seems a bit off to me.

[jultorsk]

5 hours ago, davehard24 said:

@HelpingHands

Yeah I guess that makes sense, but why would anyone want to spend that kind of money on one? Just seems a bit off to me.

Sometimes people buy (often lesser quality) "orphan" coins (w/o COA+box) in auction lots... then repackage them in separately purchased packaging and flip on. The complete product is more valuable than a proof coin without the trimmings. Profit expectation motivates, I suppose.

[terakris]

No one would actually pay that kinda money for them im sure. A few of these coin companies have super inflated prices i guess for the people that dont know much about what they are buying, this is just another case i guess.

[westminstrel]

8 hours ago, davehard24 said:

I am just wondering why any company would sell these on there own? I am a newbie here and just wondered how much weight does a COA give to a product, having recently read BYB's 001 COA on his platinum coin. Any thoughts would be great. Thanks.

 

https://www.thelondoncoincompany.com/store/Certificate-of-Authenticity-c41215955

This company has ridiculous prices for everything.

[AndrewSL76]

1 hour ago, westminstrel said:

This company has ridiculous prices for everything.

Yes. They really do. I offered them a very, very good price for one of their half sovereigns (currently priced at over £2k) and they said 'no, the price is the price'. Crazy. They would not even negotiate. I threw a number which was way below their asking but way above what you would expect to be a fair price and they still said no. I do not know how they make money. I think it is possibly just a front for something else...but I could be wrong.

[Notafront4adragon]

20 minutes ago, AndrewSL76 said:

Yes. They really do. I offered them a very, very good price for one of their half sovereigns (currently priced at over £2k) and they said 'no, the price is the price'. Crazy. They would not even negotiate. I threw a number which was way below their asking but way above what you would expect to be a fair price and they still said no. I do not know how they make money. I think it is possibly just a front for something else...but I could be wrong.

Using gold to launder money?! Who would of thought?

[westminstrel]

Gee! I wonder if anyone here had ever bought from them. 😒

[Notafront4adragon]

Does make a mockery of COA's. It why I don't really believe them. Who is to say that coin relates to that COA. In my mind it's some what immoral as you are trying to present something as not what it is. But I've also learnt that plenty of people have more money than sense.

Is it wrong to exploit stupid people?

[AndrewSL76]

10 minutes ago, Notafront4adragon said:

Using gold to launder money?! Who would of thought?

I am not suggesting that this is what they are doing. I am a lawyer by trade and recognise the seriousness of such an accusation.

I think you would have to be monumentally stupid to launder money by selling a £500 graded coin for £2k. Moreover, the only people who would pay £2k for a £500 graded coin are monumentally stupid so you would need to have a business model set up by monumentally stupid people that was used by monumentally stupid people. I cannot think of this ever working..........unless I am also monumentally stupid. Which is a possibility. 

[Notafront4adragon]

13 minutes ago, AndrewSL76 said:

I am not suggesting that this is what they are doing. I am a lawyer by trade and recognise the seriousness of such an accusation.

I think you would have to be monumentally stupid to launder money by selling a £500 graded coin for £2k. Moreover, the only people who would pay £2k for a £500 graded coin are monumentally stupid so you would need to have a business model set up by monumentally stupid people that was used by monumentally stupid people. I cannot think of this ever working..........unless I am also monumentally stupid. Which is a possibility. 

Sorry. No I wasn't suggesting you were explicitly saying that. Nor was I about this company. Rather I was saying it's certainly a possibility to use gold as a step in money laundering.

They are probably are just exploiting dumb people. 

[AgD]

43 minutes ago, westminstrel said:

Gee! I wonder if anyone here had ever bought from them. 😒

I have brought one or two things from there Ebay auctions. That I can remember one was a 2015 silver panda for about £19.50 at the time and the second was a slabbed MS 69 2011 silver Britannia and that one was around £22 

[Coolsmp]

Im not against making a profit but there is a big difference between that and exploitation.

[westminstrel]

7 hours ago, AgD said:

I have brought one or two things from there Ebay auctions. That I can remember one was a 2015 silver panda for about £19.50 at the time and the second was a slabbed MS 69 2011 silver Britannia and that one was around £22 

Hmm... I wonder who (or what) determines their pricing then 🙃

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Added 0 minutes later...

1 hour ago, Coolsmp said:

Im not against making a profit but there is a big difference between that and exploitation.

Couldn’t agree more. I can understand an individual being this way, but a company?! 🤨

[Seth]

4 hours ago, Coolsmp said:

Im not against making a profit but there is a big difference between that and exploitation.

Define exploitation, what one person considers to be exploitation anther will consider to be reasonable, just like one mans freedom fighter is anothers terrorist.

For example I've been accused of exploitation many many times in my professional life, yet I can honestly say that I feel that I've also been exploited many many times in my professional life.

[Coolsmp]

Define how you have been accused of exploitation many many times in your professional life? What have you done? Shouldn't you turn yourself into the police

[Seth]

On 25/04/2020 at 09:13, Coolsmp said:

Define how you have been accused of exploitation many many times in your professional life? What have you done? Shouldn't you turn yourself into the police

I'll let you and everyone else decide if I should hand myself into the police for exploitation, I'm not saying that I'm going to actually rock up at the closest open police station and say that I've been a naughty boy and should be arrested, just that I'll take note of what the majority of people here think.

The two most common and most recent reseasons why I've been accused of exploitation:

1, I've been accused of exploitation because I refuse to work for ''exposure'', in my industry this means that I won't get paid, but that if somebody was to buy the CD - that's if it's ever released on CD and not only released digitally, that my name will burried in the CD sleave I will not be given any specific created for what work I've done or contributed, but just a general credit along the lines of being added to the ''We would like to thank the following people.....'' So nobody will know what work I actually contributed to the album and that's if they can be bothered to read through all the small print in the CD sleave.  I don't know about you but I can't pay for my groceries, utilities, council tax, bar tab..... with ''exposure''.  They don't even want to cover my expenses even if it's just petrol money, and I do all my guitar tech work myself instead of using my guitar tech - somebody that I employ to look after and set up my guitars and equipment.

2, I won't pay for you to record your your album, keep in mind by the time you add studio rental, equipment rental, sound technicians, studio technicians, mixing, and mastering, the average album costs in excess of £15k - that's 15 thousands pounds, to make, that's before you've even uploaded it to any of the sreaming sites or pressed any CD's, and this cost does not include the album art work.

I will say this, 99% precent of the people who have accused me of exploiation are not even 15 years old, and have no clue about the music industry or how it works, in fact all these future ''next big thing'' - that's how they all introduce themselves and promote themselves, yet alone have every played a gig - either for free or paid, and most of them don't play an instrument.  So what do you think am I guilty of exploitation because I won't work for free, pay to work, or pay for some unkown, untried and tested kid to record his first album?

[sovereignsteve]

Beats me how anyone could accuse you of exploitation in the situations you have described, but there again, the attitudes that many people have these days defy belief.