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Addressing AT allegations on a Coin Forum

I'm interested in how people would respond to the quote shown below that alleges that Teletrade was a dumping ground for coin doctors trying to sell their AT coins that got by the TPGs

"Doesn't seem to be a whole lot of folks around anymore who remember Teletrade. They were one of the primary venues for the coin doctors selling their AT but cleanly graded coins. Every week and sometimes twice a week they'd have their toned coins auctions. There were so many of them back then that even 2 auctions a week wasn't enough to keep up with all that were being churned out."

For now, I would prefer to keep the name of the poster and the forum anonymous.

Thoughts?

<a target=new class=ftalternatingbarlinklarge href="http://stores.ebay.com/Lehigh-Coins">LEHIGH COINS on E-Bay

Comments

  • MrSliderMrSlider Posts: 142 ✭✭✭

    Disheartening to say the least.

    https://tinyurl.com/wbuh7ba (Search PCGS on ebay)

  • koynekwestkoynekwest Posts: 10,048 ✭✭✭✭✭

    I remember TT quite well and I don't recall that it was a big problem. But all the PR70 and MS70 stuff that was listed in TTs waning years WERE a problem.

  • DoubleEagle59DoubleEagle59 Posts: 8,174 ✭✭✭✭✭
    edited November 20, 2018 5:42PM

    I believe it could be a likely scenario.

    Can't blame Teletrade as they were just an internet liaison between a willing seller and a willing buyer.

    Doctoring of coins has always been around and I'm sure it will always be that way.

    Toning a coin artificially results in a whole range of quality.

    From the horribly toned, neon monstrosities on Ebay (done by the coin hacks in the world) all the way to the $100,000.00 (and up) coins (done by the true coin magicians out there) that are auctioned at the finer establishments.

    Bottom line is, you better know your stuff or it could end up costing you down the road.

    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • ColonialcoinColonialcoin Posts: 618 ✭✭✭✭

    I bought some fantastic coins off of Teletrade. There was another company(I forgot the name) pre-Teletrade that did sell a lot of junk. A guy I knew was into Commems at the time and he bought a bunch of toned 64’s-66’s that were absolutely hideous. Poor guy thought that he was getting a good deal based on the prices that he was paying.

  • GRANDAMGRANDAM Posts: 8,353 ✭✭✭✭✭

    TeleTrade is long gone,,,,,,, "what does it matter at this point anyway"

    GrandAm :)
  • blitzdudeblitzdude Posts: 5,361 ✭✭✭✭✭

    Bottom line is it's almost all AT and many many collectors still pay a monster premium for it. The best in the AT trade can fool any TP grader 100 out of 100 times. "Dip 'em all" Blast white just like they were meant to be.

    The whole worlds off its rocker, buy Gold™.

  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    @GRANDAM said:
    TeleTrade is long gone,,,,,,, "what does it matter at this point anyway"

    This is correct. I agree.
    TT had some GREAT coins, had some not-so-great coins.
    Just like any other auction outfit.

    RIP, Teletrade.
    Alas, I knew ye well.

  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭

    No harm to tell the trade IMO!

  • philographerphilographer Posts: 1,310 ✭✭✭✭✭

    poof

    He who knows he has enough is rich.

  • HighReliefHighRelief Posts: 3,654 ✭✭✭✭✭

    I found some nice coins on TT, especially the sale of the toned Battle Creek Morgan's.

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    I recall a bunch of coins with ugly toning being touted as rainbow toned. If they were AT's the results were lousy.

    Bigger problem was the phantom reserve bidding system that would make your noggin spin.

  • Batman23Batman23 Posts: 4,999 ✭✭✭✭✭

    I picked up a couple nice non-toned coins from TT I do not recall them being a dumping ground.

  • In the days of toned coins booming it was incredibly easy to buy from teletrade turn right around and make 30 to 70 % profit by simply flipping on ebay

  • HydrantHydrant Posts: 7,773 ✭✭✭✭✭

    I won't go into the details....good or bad. However, Teletrade was good for the hobby. For better or for worse. Teletrade was fun. And it served it's purpose. The old timers know it. Teletrade is gone. Great Collections picked up the slack and they ARE a much better venue. Great Collections came along just in time. By design or coincidence. Not for me to say. Either way.....thank you Mr. Russell.

  • GRANDAMGRANDAM Posts: 8,353 ✭✭✭✭✭
    edited November 20, 2018 9:03PM

    My TeleTrade ID was 545103.

    I wish I had kept some of the video tapes that they use to mail you to look at the coins for the phone bidding,,,,,,,, it was more work to bid back then,,,,,, before Al Gore invented the internet. ;)

    GrandAm :)
  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    @FSF said:
    631544. I still remember my bidder ID.

    Me too. I called their 800 # so many time sometimes I would intend to call someone else and hear "Welcome to Teletrade. Enter your ID code please."
    This is kind of funny, I think.
    My son and daughter when they were little used to "help" me bid over the phone and would always giggle over the computer generated voice and then proceed to fight over who was going to push the buttons to bid for me.
    Oh, the fun we had before the internet. :)

  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    @Beneteau said:
    In the days of toned coins booming it was incredibly easy to buy from teletrade turn right around and make 30 to 70 % profit by simply flipping on ebay

    Oh yes. The TT to eBay flip. :'(:'(
    How I REALLY REALLY miss that.
    Especially after it was gone and I realized how much money I made from that activity.

  • DCWDCW Posts: 6,934 ✭✭✭✭✭

    Used to buy a lot of Lincoln Cent varieties from TT back in the day. Good times

    Dead Cat Waltz Exonumia
    "Coin collecting for outcasts..."

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I did not buy directly from Teletrade... I do have a few slabbed coins that at one time went through them... no tarnish...I never took part in their activity, but heard a lot about them, here and at shows. Cheers, RickO

  • leothelyonleothelyon Posts: 8,349 ✭✭✭✭✭

    TT was a dumping ground for the tons of MS66s and MS67s NGC made. It was likely dealers who were sending in bulk submissions. Page after page of the Teletrade auction booklets one could see all those coins listed. I wish I had saved those catalogs. But one only need to see their population numbers on modern coins to see that this was true.

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

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