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ZAR Coins

What is The Scoin Shop Smoking?

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ZAR Coins    10
ZAR Coins

Hi there,

 

As most of you are aware The Scoin Shop's prices on ZAR coins are absolutely ridiculous. What I want to know is how do they get away with charging these prices? Have a look at their updated list of coins they currently have available and the prices for each. As an example I sold a 1898 Pond MS-63 (NGC) for R25,000 yet on their list it's R60,000.

 

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jwither    10
jwither

In principle, it is a matter of degree only. The prices you showed are absurd but then, so are many of the ask prices right here on BoB with some coins listed for years.

 

Your profile shows that you have been a member of this forum only since last July and I don't know how long you have been a collector. However, if you take some time to read historical posts on this forum at least since I started posting, you will see that either a substantial minority or even a majority of contributors have inflated opinions of what SA coins are or should be worth. This is evident in that I have been the only "naysayer' on this forum the entire time I have been posting outside of the obvious Mandela mania.

 

My guess is SA Coin Shop exclusively sells to "investors" and then only novices. Presumably, even though I think a disproportionate percentage of the buyers of the more expensive coins in your country care a lot more about the financial aspects than real collecting or actually completing their collections, I don't believe they are duped by this outlet. However, I think it should be evident that in general, it is lot easier to get buyers to pay inflated prices when they willingly choose to believe that coins which are actually absurdly overpriced are supposedly great bargains.

Edited by jwither

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