Heritage is all mixed up - $60,000.00 in ANA purchases, nobody knows when it will ship, higher fees

synchrsynchr Posts: 755 ✭✭✭
edited September 1, 2018 8:23AM in U.S. & World Currency Forum

Bought almost $60k at Heritage ANA, overnighted the check, confirmed cleared 8/22/2018 and I called Monday asking if there was a date they might ship on. Long hold, no word yet, pls call back later. Waited until Friday, called again nobody could come up with a date it will ship. Sent an email to Mincho reminding him of our almost 20 years of perfect transactions and that someday I will sell, so get motivated. I also mentioned that their fees have STEADILY increased and service should be commensurate with such fees.
Responded with "I feel your pain", yet nothing to address my polite request of a estimated shipping date, leaving my money in the wind.

If I buy $60k worth of stock, my broker can tell me exactly when it will clear and he does not play cavalier games with me having to chase this down, he calls me. This lack of transparency at Heritage is different than before and I must really question about their increasing fees matching such service as it is today.

Comments

  • jt88jt88 Posts: 1,122 ✭✭✭

    HA is not the previous nice HA any more. Very slow shipping and high shipping fee than SB (almost double than SB).

  • synchrsynchr Posts: 755 ✭✭✭
    edited September 1, 2018 8:28AM

    Thank you, it is so weird as all I'm asking for is an estimated date.
    $12k in juice and I can't get a date out of them, wow

    Have they laid off all the support staff that handle this?
    The higher fees and lower service are a seriously bad industry indicator

  • Though I'm not at your $$ level I have noticed the same as of late. Does get a bit annoying, even for little guys like me. I spent more than 30 years in varied customer service fields and will say for what HA is (or may soon NOT be) in the service area, they better straighten it out soon.

  • TookybanditTookybandit Posts: 3,244 ✭✭✭

    Lol, send a bank-wire next time and you won't have to wait for your order to ship vs. snail mailing a check of that size.

    Seems like a pointless thread that should be deleted.

    disparaging Heritage or any other company in the industry on a public forum is trolling and should be discouraged IMO.

  • I totally agree Tooky. The OP has bashed PCGS, Heritage and others to numerous to recollect.

  • Sorry guys, I don't know of the OP's past recourses. But I am speaking for myself as the reference. I pay immediately, no wire, no check, direct payment. Now when it takes nearly a week to get a shipment out something is amiss IMO. I have had great track record earlier this year and back. But as of late it has been somewhat lax.

  • Timbuk3Timbuk3 Posts: 8,577 ✭✭✭✭✭

    OMG, absolutely unacceptable. I hope it works out well for you. Please keep us posted !!! :)

    Timbuk3
  • synchrsynchr Posts: 755 ✭✭✭
    edited September 2, 2018 6:33AM

    I am trying to change addresses to my other residence to lower the new State taxes that were added after I had placed bids in the Sept 5 auction. That ain't gonna happen because nobody will be in the office. Taxed at 10.4% is a big number

    Apologies for relaying a bad experience and being a downer. Resolve the issue and move on, All my bidding stops at Heritage.

  • MEC2MEC2 Posts: 275 ✭✭✭

    If I spend $60k somewhere, I don't end up having it shipped, I drive it off the lot... whew that's alot of bread in an auction.

    Labor economy is tight in Dallas, I've seen new faces at Heritage of late. Not sure if that matches up with what's going on.

    If that means you don't bid in upcoming HA auctions anymore... then maybe I'll win more, so they can take their time shipping! Send that by the slow boat to China...

  • gnatgnat Posts: 545 ✭✭✭
    edited September 3, 2018 10:04AM

    According to HA's Terms and Conditions, checks can be held 10 days to ensure they have cleared. Just because your bank says it has cleared does not mean it has cleared as far as HA is concerned (or that some problem might arise later). HA is sending out merchandise that belongs to a consignor (in most cases), and will not do so until they are ensured that they have received good funds not subject to reversal. 10 days for a personal check is not unreasonable.

    I'm personally not a big fan of HA (aka Evil Empire), but if you want to bid in their Auctions, you do so according to their terms - to which you have agreed. As Tooky stated, use an eCheck or wire the funds, if you want quicker delivery. Otherwise, complaining about it does not seem productive.

  • MEC2MEC2 Posts: 275 ✭✭✭

    A physical check makes little sense these days, they can direct draft and be done with it. There is nothing inherently more secure about a physical check... just more opportunity for loss and delay.

  • synchrsynchr Posts: 755 ✭✭✭
    edited September 6, 2018 5:47AM

    Sold a car in Monterey last month, did well, these are profits out of Escrow directed towards the purchase.

    @MEC2 said:
    A physical check makes little sense these days, they can direct draft and be done with it. There is nothing inherently more secure about a physical check... just more opportunity for loss and delay.

    Unless you're transitioning hobbies in lieu of taxes, but for nearly all other cases you are right

    @gnat said:
    According to HA's Terms and Conditions, checks can be held 10 days to ensure they have cleared. Just because your bank says it has cleared does not mean it has cleared as far as HA is concerned (or that some problem might arise later). HA is sending out merchandise that belongs to a consignor (in most cases), and will not do so until they are ensured that they have received good funds not subject to reversal. 10 days for a personal check is not unreasonable.

    I'm personally not a big fan of HA (aka Evil Empire), but if you want to bid in their Auctions, you do so according to their terms - to which you have agreed. As Tooky stated, use an eCheck or wire the funds, if you want quicker delivery. Otherwise, complaining about it does not seem productive.

    Great point, which was made again in a very polite HA letter first thing Monday, 10 day holding period.

    So when I phoned in Monday asking for a date they would ship, they knew when they arrive, they could do the Math adding 10 days and give me a date of shipping but didn't. I understand that checks are dubious these days but I need to change addresses for tax reasons and I need these wins at current address

    Superb topic "I'm personally not a big fan of HA"
    In two other hobbies, Peer-to-peer sales via forums have escalated in the last 5 years where the major auctions are just high end items and the real exchanges happen between collectors.

    Why have the auction houses in currency collecting bveen immune to this?
    Why are Buy and Sell forums generally not been the Go-To place for purchases - isn't it the collectors which hold these notes not the auction houses?

  • synchrsynchr Posts: 755 ✭✭✭
    edited September 6, 2018 6:42AM

    HA overnighted, Thank you very much

    I was rushed to change addresses as I have 6 winning bids in the Sept 5 auction (That's today!) and the wonderful State of Washington's 10.6% sales tax would put my sales tax exposure to be North of $5k. In almost 20 years this has never been an issue and they could ship when they want

    20milliseconds after I got the shipping email Tuesday, I changed addresses to a my non-taxed address. Wont be there for 3 weeks, so needed to see the HA wins notes in hand while future wins go to my non taxed address (shipping at their leisure is fine then, no rush)

    Nothing would have been an issue if it weren't for the new Sales Tax laws and WA State hitting me for 10.6% on Today's/Tomorrow's wins/bids (cough, cough)

    @MEC2 said:
    If I spend $60k somewhere, I don't end up having it shipped, I drive it off the lot... whew that's alot of bread in an auction.
    Labor economy is tight in Dallas, I've seen new faces at Heritage of late. Not sure if that matches up with what's going on.
    If that means you don't bid in upcoming HA auctions anymore... then maybe I'll win more, so they can take their time shipping! Send that by the slow boat to China...

    Agreed, you got how I felt.
    You have some great stuff (good finds!) in your collection but I think we are focused on different areas, just don't bid on the XB Experimental 67PPQ or the 35 Plain star in the current HA and you won't lose - I got [email protected]! :)

    @Tookybandit said:
    Lol, send a bank-wire next time and you won't have to wait for your order to ship vs. snail mailing a check of that size.

    Seems like a pointless thread that should be deleted.

    disparaging Heritage or any other company in the industry on a public forum is trolling and should be discouraged IMO.

    The forum's purpose is to exchange real world experiences. Which begs me to ask - In decades of collecting, how come you and I have never done a deal?

    You are a far better grader than any of the services, are far more informed, you have a passion for the hobby, research and education, generally care about the items you sell and the service given to the buyers, although not that many for sale in small size.

    An even larger question is why must we buy through the auction houses when other hobbies are transitioning into Peer-to-Peer sales?

  • TookybanditTookybandit Posts: 3,244 ✭✭✭
    edited September 6, 2018 6:37AM

    "In decades of collecting, how come you and I have never done a deal?"

    I've only been a strong Paper Money guy for around 5yrs. and just met you for the first time earlier this year. You seemed like a decent dude ...even if you harshly disparaged my choice of cell phone in public, haha!

    I wouldn't mind buying notes from you (or selling too) just can't do it at the club table ...show protocol.

Sign In or Register to comment.