Should You Buy $21 eBay Coin Grab Bags? Premium Slabbed Coins Only!
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- Äas pĆidĂĄn 6. 08. 2024
- It's that time again! I spent my hard earned money on another mystery coin grab bag from eBay. This time it's a bit different because the only coins in the grab bags are slabbed coins like NGC and PCGS graded coins. I was very excited to purchase these in the hopes that I'd get an American Silver Eagle coin or other valuable one troy ounce silver coin. Watch and see if I did! Visit www.thesilverpicker.com to learn more!
#Coins #collecting #ebay
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Think of the money you saved not paying for the grading yourself
It wasn't that bad some grab bags just give you a roll of wheat pennies and a 1 cent in plastic worth about 1c for ÂŁ20
Total rip-off! Had you only bought one or two coins, neither would have been the ASE! You only got the ASE because you bought 5 coins, I have to think....
Agree.
Also agree
Also also agree
Also Also Also agree
Also also also also agree
MSRP stands for manufacturer suggested retail price, coins do not have one since there is no "manufacturer" or a retailer that would abide and their value is based off a commodity. very misleading to assign one to coins.
Red book value?
â@@bigapplebucky red book/grey sheets base prices off of comparable coins being sold in the most recent time period. Im sure the prices listed as MSRP are similar but I would not buy coins from someone who doesn't even know the proper terminology.
MSRP? Most definitely KBB, lol
P.T. Barnum said " There's a sucker born every minute"....its up to every second by now!
That's for darn sure!
Oh man!! I literally just got my proof slabbed coins in the mail and was hoping that it would be a new type of unboxing that wasn't super close to what you had done in the past! I think I'll wait a little while to release it in that case so people aren't bombarded! Hope you had a Merry Christmas if you're celebrating and a Happy New Year!
Hey man, the more the merrier! Also, just a heads up: I looked more into the coins after posting the video and the 3 proof coins were not even silver proofs! Opened a case with eBay for that since it's a clear case of false advertising.
For $115 I could have gone to my LCS and bought 5 ungraded ASEs.
Yep. A MUCH better deal
I really like your videos man. When I was younger I almost bought grab bags like the ones you have covered. Iâm glad there is someone on CZcams reviewing these coin deals while also delivering entertaining and positive content.
Thank you for showing me how not to spend my money. I go for the more proven way to get more than you spent. The Lottery! đČđđ€Ł
I bought 7 grab bags in the past and I have gotten over 10 coins maybe 20 that are worth 100 plus. Just like a 1927 s mercury dime, 1940 s mercury dime, an 1896 Indian head penny and about 200 more coins that are allll old and worth double up to 6 times the face amount
What a scam!
I thank you so very much for giving me & others watching all this very useful info. I think your awesome, keep up your awesome work, and two thumbs up to you.
Love the tshirt ! haha how clever! Great video I thought, you're a wealth of information! :)
Thanks! If you decide to buy one, put a pic up on insta or Facebook and tag me!
Thank you again so much for doing these videos. I really enjoy them!
My pleasure!
I think I'd rather just go to my local coin shop and get the ones I want and know to be actual silver. Just bought a 1943 silver Australian Florin yesterday and made it into a double sided coin ring today.
Good job on the video my friend, sorry you got burned, canât wait to see your next video, keep up the good work and happy new year đđđ!
Thanks!! And to you too!
MY GOLDBACK ARRIVED YESTERDAY !!!!!!!!!!
David Linares sane
That's awesome!! Congrats!
@@Silverpicker can you get more than one
I signed up but couldn't find the offer
@@Mccxjordan same
Great video, thanks for the heads up.đ
Can wait until you post the video all your other ones have been great keep up the good work and merry Christmas đđ.
Thank you!! And to you too!
You're welcome, happy new year.
Iâm really bummed you didnât get amazing things - but I seriously love these videos!
I follow your videos cause you have good content you take the hit so I dont have too. TY Max I think it's like cards they are stacked and stacked against you. If you bought 1 it was 1 in 74 chance youd get a silver oz round. Cant wait to see that video.
Very entertaining video have been sharing your eBay videos. Really like them. I like when you show who the seller is so beginners like me have an idea.
Really glad you're enjoying and really glad it's helpful!
You got good videos bro thanks
I fell for things like this when I first started getting into collecting coins back in 2013.
Glad you've since learned!
Thank you for doing this so we don't have too!!!
My pleasure lol
It's fun to watch & learn from other's mistakes. ;)
You scored big!! .......on felt bags and change that is. Oh yeah and that $80 over spot Silver Eagle.
I smashed that LIKE because you took one for the team! Low Key I like watching these grab bag videos tho ;) GL & HH
Knew it was going to be crap. Watched anyway lol
Such a shame, right?
I liked two things about that eBay buy. The cloth bags that the slabs came in (very handy for storing loose coins away in a drawer) and that fabulous Eagle coin. And that, not surprisingly, is it. Its a total scam by the looks of it. You only get half of the money spent back in numismatic value. Sadly eBay is awash with scams, rip offs and to- good- to- be- true deals. I would advise any new coin collector to support their local coin shop, and not throw away good money on these awful eBay scams. Spend it down your LCS! So you are doing a great job of spreading awareness of these scams. Keep up the good work.
Hi thanks you for warning people about mystery grabs bags
Reminds me of the old saying, "A fool and his money are soon parted."
Good stuff. I'm trying to talk my son out of one of those Ebay grab bags. I'll have him watch this and the next video you post.
Please do! He will be much happier spending his money at a local coin store!
@@Silverpicker That's what I told him lol. The last time I was in our LCS I picked up a 1878 CC Morgan for $16 out of the "junk" bin. I like the certainty of being able to see and cherry pick my coins.
Just go to Apmex and buy a 5 ounce silver bar and an inexpensive silver round for 100.00. This way, you will get your money's worth, instead of throwing away your money to an eBay seller, who is not entirely being honest. In other words, avoid eBay scams!
You said it!
I dont gamble with my money...if I spend $21 I'm going to soend it innthe hest deal I find with my own eyes and knowledge...not take chances that are for sure making someone else money...the siover eagle was a fair deal...but most of us can go down to our local coin shops and find mint unslabbed sipver eagles for a buck or two over spot...vert few people people will apt a high premium for a slabbed regular silver eagle..in hard times no ones gonna give extra bottles if water for the plastic case...so honestly at best you broke even with the eagle...lost money on the rest...you can afford it...but many can't...and all it is to me is a gamble where where you might break even at best...so unless your rich and really bored this is a waste of time
Everything you do or don't do with $21 is a gamble. With the treasury increasing the money supply at 8% every year, you might regret holding [non-collectible] paper currency if hyperinflation sets in. I also bet you wish you spent $21 [or more] in bitcoin 9-10 years ago. For disclosure, I don't have much faith in bitcoin-but it is a gateway coin if I wanted to by any altcoins I do like[which I am hoping to do soon]. It is possible that they could be some breakthrough in chemistry/physics to make any element we want on the cheap or Bezos could start mining from asteroids and flooding the markets with precious metals. Perhaps the Chinese could flood the market with perfect replicas PS70 deep cameo made of silver. Everything is a gamble, and everything that is a token/store of wealth could be lost at any given moment-well maybe not the Bezos asteroid thing. If I were young again, I would buy land in a 3rd world country [and the cable for internet which is expensive] and just code for crypto and farm [food]. Tis better than trying to make it in America these days.
I think an argument can be made, where the price difference is trivial, for having an excellent specimen coin in a slab, vs just accumulating silver[/gold] coins in a mint state slightly above spot. All of us who collected coins as kids probably have piles and piles of junk silver [& copper] after we first landed a job. If it is just about investing in silver then there might be better options than coins, but I don't have such experience. If everything is mass produced in mint state then the numismatic value of ordinary specimen will probably forever be a de minimus difference relative to spot, short of another [silver/]gold confiscation program, except for the best examples [or errors]. You know, kind of like how the baseball cards are worth about their melt value too; Been tempted to use those old things as firewood as to not have to move them later or to free up storage space.
Everything that can be made by business or government are essentially made by man-And so everything that has been created by a [man] can be created by any other determined man who has access to the resources and skills. Better a loss on a $30 specimen coin than a $10000 specimen coin, and obviously better to invest 10k in silver at about melt than a single 10k specimen coin.
@@michaellake4633 not in my world brother...if I soend 21 its to pay a bill of too make money...but the word "if" is never included...
Agreed. Definitely a waste of money. Don't recommend it
2nd line what does....soend it innthe hest...mean..??
These would appeal to my gambling side... Thanks for sharing!
I agree with your entire assessment of this "deal" but I was curious, do you think in those "bust" bags, he was adding the grading cost into the value?
Nice video, I subbed
Thanks!
Grab bag is just that. The seller is always gonna win. Just a way to get rid of stuff you can't sell outright tied to something you can. I'm interested to see the next video though!
Hope I do better on the next one!
I DONT UNDERSTAND WHY ANYONE WOULD BY THE UNKNOWN, WHEN YOU CAN BUY ANY COIN AT YOUR LEISURE.
I ask myself that same question lol
What is up cannot wait to watch it.
I think that the sellers who say âwhat you could get is.....â shouldnât be allowed since itâs pretty much like them setting up an illegal lottery
So with you getting 4 of the less then one oz coins this brings that number down to 27 coins with less then an oz and 40 coins that are 1 oz coins. If he is doing what he claims then your odds of getting a better coins have gone up.
Ya could of just got 4 or 5 2020 ASE from SD BULLION, thank you for the 5 oz spot link, will use it next month when I place my usual order from SD and add the extra 5 oz, those bags never work, thank you silver picker, keep pickin.
I love his vids they are amazing
Thank you!
Hi my name is Jack I think it's a good way to start young people and coin collecting is reminder lady you should create a newsletter I think that would be great
Who would actually go to the expense of getting the quarter, dime and nickel graded by PCGS? Wouldn't that cost far more than any of them are worth?
Perhaps those scam mint places do it in bulk only to sell the coins for $20 to grandma and grandpa because they get all their direction in life from Parade Magazine.
I was thinking the same thing.
For registry sets
Either way it's frustrating because upon closer scrutiny it turns out that the 3 proof coins I got were not even silver as advertised.
@@Silverpicker if they're not as advertised in the listing can you send them back for a refund?
If u take the $8 and add the $13 to pcgs grade it those msrp makes sense
I just wanna thank you for your videos in to let you know that I signed up for the gold backs and got my free gold back and so did 5 people in my family
My pleasure! So psyched to hear that you all got your Goldbacks!
thanks
â»ïž Enjoy your show â»ïž thanks for the update information â»ïž
Don't know much. About these. Thanks
Definitely not a good deal. You know that now lol
I just bought a 1914 standing liberty and a 1912 barber quarter for $8!
The first year for SLQs was in 1916...
@6:35 I was yelling at ya to keep with the maroon/purple bags, and you went for a black one. Why did you ask me???
You could play the lottery scratch off tickets with the same odds.
I agree , and the seller should be removed from doing transactions on EBAY !
Stats guy here.
The probably of getting one of each coin (2019 SE MS69, Mint Q, D, N, and SD Bullion) is (10 * 8 * 8 * 8 * 4) / 16,108,764, where we assume each mint coin is evenly split among the 24 in the listing and the 16,108,764 is the number of possible combinations of picking 5 coins from the lot.
(10 * 8 * 8 * 8 * 4) / 16,108,764 = 20,480/16,108,764 = 0.00127 * 100 = .127%
Needless to say, itâs highly improbable that you were randomly sent those 5 coins and they all ended up being different.
Yes
Really appreciate the calculations. Certainly confirms my back-of-the-envelope math I did.
How do you compute that?
I think as you will have at least the first coin draw be a 74/74 draw for uniqueness (this the first one after all it is guaranteed to be unique). Then we still have most of our remaining coins to choose from and still be unique. For example if our first draw were the eagle then we'd still have 64/74 coins to be picked second as unique, so 74*64 so far. Then if we pick our three Q,D,N (again assuming evenly split) we have probabilities of 56*48*40 and then finally the odds of getting that 1/4oz round are indeed only 4/74 but you forget we could have had any of the remaining types to be unique so we actually end up with 74*64*56*48*40 as our numerator.
Your math for the denominator seems to be the number of combinations picking 5 out of 74 (and does work out with C(5)/74 = 16,108,764) but that is not actually what we need to model is it? As we pick a coin we can't just pick it again, so actually we just have 74 coins to choose from the first time, 73 the next, and so on. So our denominator is really 74*73*72*71*70 = 1,933,051,680
So then we have our theoretical draw here as SP does for (74*64*56*48*40)/(74*73*72*71*70) = 509,214,720/1,933,051,680 = 0.2634 or about 26.34% chance of happening. Not really all that unusual but not something that should happen repeatedly over the long haul.
Gotta love discrete math :)
Well the auction title was "Fun", and I did have fun watching you open everything!
Keep up the good work - love the channel.
Hahah, well said! Thanks!
I could buy a silver eagle cheaper than $21 if I looked around but could easily find 5-1 oz silver rounds under $21. I bought 10-1oz rounds from JM last week for $178 delivered.
Agreed
I would bet that there were a bunch more of the lower valued coins added to what was shown in the ad. I also would guess the coins in each purchase were not a random selection.
Unfortunately I think youâre right
It would cost almost 20 dollars or more to grade each one of those so you get coins for the price of grading. Not too bad. Just make sure those numbers match what PCGS has for it. They sell those cases on wish đ
The grab bags are almost as bad as the âoriginal â coin rollâs! 95% are scams! Anything too good to be true usually is. Be careful on this kind of purchase for sure!!!
That's for sure
I've bought OBW rolls of dimes...I opened it and put them in airtites ...1955 S ...Every one of them, except the ends, was perfect B.U. ... You just have to make sure it's a OBW...They sell Wrapped silver rolls, but; they're just coins in a wrapper...Never buy from anyone with less that 99.8% over 20000 sales or Under 100% for the rest...
Perfect way to dump unwanted or low/zero value coins! Just stick them in a grab bag!
Such a shame, but you're right. The least they could do is give you retail value for your money
As of 09 January 2022 (I know this video is from 2019) those coins combined are worth $112
On the MS69 Silver Dollar, it looks like the reeding is slightly imperfect which is why I reckon it got a 69 over a 70. 70 is perfect.
I donât think it was a scam. I think it was random esp since that both black bags werenât hits. If both black bags where hits then Iâd think it was a bigger scam. What you said based of the msrp, that is questionable. Is what it is?
hey silver picker not related but where can i buy coins and things from you, i looked all over and cant find a place or website to buy.
Shoot me an email at thesilverpicker@gmail.com
Watched a video about the Chinese counterfeiting Morgan dollars and putting them in a graded case. Any worries here?
Not really with these particular coins, but definitely with Morgans
Think it would b kinda interesting to get another 5 jst to c if there's a difference.. Jst heard u say u were going to I think thats a great idea
Thanks! I'll take a look. I'm kind of having cold feet on the reorder lol
@@Silverpicker lol ya after that lot i can why and don't blame you
4:37 "There was a call for 'change' in the world of coinage." I see what they did there.
They put them in bags but can weigh them afterward and the more you buy, they will give you at least 1 hit.
I too suspect that's how they do it
my question is this....How great is your suspicion that the grab bags are NOT random, and the "74 slabbed coins" is really "many multiples of the "cheap stuff" and the 58% one ounce "inducement" is really a much (as in single digits) probability?
I believe at this point that the whole listing is a scam because upon closer scrutiny it turns out that the 3 proof coins I got were not even silver as advertised.
When the seller pick up the bag he felt the weight to choose which ones to give.
I think you're right, Lawrence
the probability is out of 5 coins is 1 and 15% chance
he probably used a scale once they were bagged to make sure he didn't send out 5 ounces of silver.
That's highly likely
Yo!As long i enjoy the coin, price of it is not a problem to me.Buy is my recomendation.
Don't forget the cost of grading. Currently $16 per coin. So thats $64 for the 4 graded coins.
The part where you keep saying "the suspense" is really driving people nuts
Here's the main problem - with shipping included you are effectively paying $30/coin if you only buy one and since the max realistic value is only around $30 then you can really only hope to break even and more likely end up losing money.
That's true. If the listing was fair, though, it would at least be a reasonable gamble
When I buy coins and rounds on eBay I never purchase any of those mystery grab bags or lots because more than likely there is the risk of not getting a fair value for what you pay for. I would of been happy with getting the 2019 Silver Eagle but not with the other 4 lots. And companies can get away with doing stuff like this without it being considered a scam. I think a lot of the estimated values and prices you see them put on graded coins are considered over rated with the current collector's market.
Agreed, Eric
You should buy one of my lots on ebay I put each one together and try and make sure everyone gets their money's worth.
Did you ever make the 2nd purchase. I dont see the video here?
No. I realized it was a scam and didn't want to give him any more business or exposure
I have a bag of 1950's, 40's and 30's nickels with some war nickels and buffalo nickels inside it. All and all it weighs 2 pounds and is 30 dollars fair? Too much? Too less? Anyone let me know
I would say it really depends who's buying, someone to cherry pick or someone who just holds on to them but i think 30 dollars is a good starting price
He's going by pcgs guess of what it should sell for the seller wasn't clear but a numismatic would know
I paid 40 bucks for one and I got a 2000 s dime which I hated I wanted an older coin
Hey silver picker, could you perhaps do a video on the empirecoins.net $20 grab bag? I was considering buying one but I'm not sure if I would get my money worth.
I would, but they are sold out!
@@Silverpicker ah dang, thanks for the reply though! Have a good day+
But got to use a anonymous name to see if you still get a good big silver . Cool video
I do indeed. Def don't use a silverpicker eBay account
I have silver medieval & ancient coin
Coins*
It's fun either way, it's $20. Not the end of the world
Agreed, but I make these videos to warn people that things on eBay are not always as they seem
Love your grab bag videos, but this one stings. (Waaa Waaa Waaa Waaaaaaa.. indeed). Normally, you should buy grab bags if you want to do it for fun. You never know what you'll get. But for investment, it would be best to just buy bullion. Wishing you better luck on your next one. Thanks for uploading!
Thanks Clem! Agreed!
That first dime is only worth about 4 bucks the quarter 6...The Eagle was a good deal...Bro...You got took!
Sure did lol
@@Silverpicker A cheap lesson...:)...I just got a ticket for a red light camera...That''s a hundred dollar lesson...At least you got some back...:)
Ebay is for the seller to make money not losing.
Probability should give at least two 1 oz. coins.
What about the $8 29 to 30 bucks
Hey silverpicker! I just saw your video on goldbacks, i went to get one but i couldn't because i have a european phone number instead of american. This prevents any european from getting a free goldback.
Also my postal number is 4 digits instead of 5 which is needed to sign up.
If you still are partnered with them i would really appreciate it if you contacted them about this issue.
Id say they saw it was all going to one address and decided to give you a 1 ouncer just so you would get that good grab bag and couldn't "complain".
I think you're spot on
That intro tho
The probability of this specific outcome (1 good coin and 4 bad coins) is 1.8%. The binomial probability of getting only 1 or fewer good coins is 10%.
There's also a 89% chance of getting at least 2 good coins, and a 64% chance of getting at least 3 good coins.
Thanks DrK! So basically it's highly unlikely that this was by chance
@@Silverpicker Very unlikely, but certainly not impossible. I'm very interested in seeing how many 1 ouncers you get with your next order.
As always, great videos and keep up the great work!
like buying lotto tickets- you know you are going to lose but itâs kind of fun I guess.
Is there any good grab bags worth the money out there?
No
It's just gambling really.
So far I've only found one. Main Street Rare Coins in Connecticut sells amazing ones on eBay. Give them a call if you're interested www.mainstreetrarecoins.com/
Why would you care to have the cases and a rating by a coin company?
Dude just tripled his money
I was thinking the same thing. Thatâs was purposely sent to you.
Yep, it's gotta be