Ponderings of the Random Persuasion
For those who don't pay attention to celebrity couplings and un-couplings, singer Mariah Carey and her billionaire boyfriend, James Packer have apparently broken up. According to TMZ.com, the couple were very "lovey-dovey" before a recent cruise, with Packer calling the diva singer MCP, for Mariah Carey Packer, even though they were not yet married.
Mention MCP to any sci-fi movie fan familiar with the 1980s and we will think of that MCP, not Mariah Carey Packer.
TMZ is also reporting that Ms Carey is seeking a settlement of $50 million from Mr. Packer, which seems strange, given they were never married and haven't been together all that long.
* * *
This is an older version of a commercial that I saw several times on TV yesterday. Only the number of Morgan Silver dollars and the age of the coins has changed from what you're about to see to what I saw yesterday:
The narrator says "...each coin is guaranteed to be in brilliant uncirculated to fine condition." To a non-collector, sounds like no big deal. But it is.
That is an 1883 O (meaning it was made at the New Orleans mint) Morgan Silver Dollar in MS-65, Brilliant Uncirculated condition.
That is also an 1883 O Morgan Silver Dollar, but this one is in F-12, Fine condition.
Both are currently advertised on Ebay.com The difference is that the first dollar is going to sell for six or more times the amount that the second dollar sells for. On television, in the voice of the narrator, brilliant uncirculated to fine sounds like a very narrow range of conditions. Nothing could be further from the truth.
There are two basic rules when it comes to collecting coins (yes Virginia, I'm oversimplifying but bear with me). Rule #1 is that rarity is everything. In 1883, there were 12.3 million Morgan Silver Dollars minted at the Philadelphia Mint. But in the same year at the Carson City Mint, there were only 1.2 million Morgan Silver Dollars minted.
Rule #2 is that condition is everything. Consider these two 1883 CC Morgan Silver Dollars:
Both are brilliant uncirculated, but within that condition there are differences. The first dollar is MS (Mint State) 67 and the other is only MS 63. The difference can be seen in the asking prices. The first is priced at $4,225 while the second is priced at only $199.99. That's a really big difference for what seems like a minor variance in condition. It only seems minor to someone who isn't a true collector.
As a hobby, collecting coins is great. As an investment vehicle, they should be left to the experts.
* * *
Wait, one more example of these "phony" mint commercials misleading the public.
That's a gold coin commemorating the 75th anniversary of the attack on Pearl Harbor. U.S. Money Reserve is yet another private mint and they have a commercial for this coin on right now. It makes mention of the fact that this coin is legal tender.
What the commercial doesn't mention, and you have to dig into the fine print on their website is that while it is legal tender, it isn't legal tender in the U.S. It is produced by the Perth Mint, the official bullion issuing mint of the government of Western Autralia. But the coin isn't legal tender there, either. It is actually legal tender in the nation of Tuvalu.. Apparently, truth in advertising laws in this country don't require people selling this kind of thing to make that distinction. Just FYI, one Tuvaluan Dollar is currently worth .76 U.S. dollars.
The price for a one ounce, $100 legal tender in Tuvalu coin is set at $1,599. With the price of gold some $300 less than that amount, I suspect that investors would do better to go pan for gold in Northern California instead of buying this piece of crap.
* * *
As I write this, there's a commercial for My Pillow on my television. I mention this only because I heard a news item on the radio earlier today. It made mention of a legal settlement over truth in advertising.
Ten District Attorneys from various California counties reached a settlement of just over $1 million regarding false and misleading claims in the My Pillow commercials. Seems fair. Until you hear that this company is spending $1.4 million per week to air those commercials. Could the settlement be kind of small in comparison?
* * *
One for the lowlight reel.
* * *
Yet another visit to the VA's ER in the books. Three hours, two liters of fluid and one shot of Zofran and Dilaudid and I was on my way home.
* * *
Megyn Kelly's new memoir has a newly added chapter containing allegations that she was sexually harassed by Roger Ailes. His lawyer denies the allegations, quoting something Kelly said last year regarding her former boss.
What I'm having trouble understanding is why Susan Estrich would defend Roger Ailes?
Mention MCP to any sci-fi movie fan familiar with the 1980s and we will think of that MCP, not Mariah Carey Packer.
TMZ is also reporting that Ms Carey is seeking a settlement of $50 million from Mr. Packer, which seems strange, given they were never married and haven't been together all that long.
* * *
This is an older version of a commercial that I saw several times on TV yesterday. Only the number of Morgan Silver dollars and the age of the coins has changed from what you're about to see to what I saw yesterday:
The narrator says "...each coin is guaranteed to be in brilliant uncirculated to fine condition." To a non-collector, sounds like no big deal. But it is.
That is an 1883 O (meaning it was made at the New Orleans mint) Morgan Silver Dollar in MS-65, Brilliant Uncirculated condition.
That is also an 1883 O Morgan Silver Dollar, but this one is in F-12, Fine condition.
Both are currently advertised on Ebay.com The difference is that the first dollar is going to sell for six or more times the amount that the second dollar sells for. On television, in the voice of the narrator, brilliant uncirculated to fine sounds like a very narrow range of conditions. Nothing could be further from the truth.
There are two basic rules when it comes to collecting coins (yes Virginia, I'm oversimplifying but bear with me). Rule #1 is that rarity is everything. In 1883, there were 12.3 million Morgan Silver Dollars minted at the Philadelphia Mint. But in the same year at the Carson City Mint, there were only 1.2 million Morgan Silver Dollars minted.
Rule #2 is that condition is everything. Consider these two 1883 CC Morgan Silver Dollars:
Both are brilliant uncirculated, but within that condition there are differences. The first dollar is MS (Mint State) 67 and the other is only MS 63. The difference can be seen in the asking prices. The first is priced at $4,225 while the second is priced at only $199.99. That's a really big difference for what seems like a minor variance in condition. It only seems minor to someone who isn't a true collector.
As a hobby, collecting coins is great. As an investment vehicle, they should be left to the experts.
* * *
Wait, one more example of these "phony" mint commercials misleading the public.
That's a gold coin commemorating the 75th anniversary of the attack on Pearl Harbor. U.S. Money Reserve is yet another private mint and they have a commercial for this coin on right now. It makes mention of the fact that this coin is legal tender.
What the commercial doesn't mention, and you have to dig into the fine print on their website is that while it is legal tender, it isn't legal tender in the U.S. It is produced by the Perth Mint, the official bullion issuing mint of the government of Western Autralia. But the coin isn't legal tender there, either. It is actually legal tender in the nation of Tuvalu.. Apparently, truth in advertising laws in this country don't require people selling this kind of thing to make that distinction. Just FYI, one Tuvaluan Dollar is currently worth .76 U.S. dollars.
The price for a one ounce, $100 legal tender in Tuvalu coin is set at $1,599. With the price of gold some $300 less than that amount, I suspect that investors would do better to go pan for gold in Northern California instead of buying this piece of crap.
* * *
As I write this, there's a commercial for My Pillow on my television. I mention this only because I heard a news item on the radio earlier today. It made mention of a legal settlement over truth in advertising.
Ten District Attorneys from various California counties reached a settlement of just over $1 million regarding false and misleading claims in the My Pillow commercials. Seems fair. Until you hear that this company is spending $1.4 million per week to air those commercials. Could the settlement be kind of small in comparison?
* * *
One for the lowlight reel.
* * *
Yet another visit to the VA's ER in the books. Three hours, two liters of fluid and one shot of Zofran and Dilaudid and I was on my way home.
* * *
Megyn Kelly's new memoir has a newly added chapter containing allegations that she was sexually harassed by Roger Ailes. His lawyer denies the allegations, quoting something Kelly said last year regarding her former boss.
What I'm having trouble understanding is why Susan Estrich would defend Roger Ailes?
posted by me at 3:23 PM
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