Heritage's Make Offer To Owner actually works

savitale

I was dubious that the Make Offer To Owner process would go anywhere. But since the total graded population is less than 10 coins, I figured what the heck and got this 1873 Double Die Obverse dime. I had to pay up for it of course, but I guess you gotta do that sometimes. This VF35 example is the 5th finest known of the variety:

1. NGC MS61 (dipped, at least)
2. AU58 - Simpson collection
3. AU55 - Gerry Fortin collection
4. AU50 - Beach collection
5. VF35 - this coin

ironmanl63

I have sold a few that way. Never had any luck buying. I will keep trying.

JasonGaming

Fantastic specimen. I’ve been looking for a clean example around G04 with no avail. Good job!

RichieURich

Sweet coin and congrats on acquiring it!

ms70

Nice coin. That's a pretty drastic DD.

SaorAlba

Never bought but have sold several items that way - probably more soon as my paper money collection has seen better days of my interest lately.

kbbpll

Haven't been tempted yet to push that Make Offer button, but that doubling is really amazing.

koynekwest

That is one fabulous doubled die! Been lookin' for it for years with zero luck.

savitale

I've made a couple offers in the past and never heard anything back. I imagine much of the time the person who bought the coin from Heritage no longer owns it. I was quite surprised it worked out this time.

GoBust

I've bought a few coins with make an offer and sold one coin (for such a premium it didn't make sense to keep the coin). I've mostly offers that were rejected however. I think its a great feature that Heritage set up.

RogerB

I've used this for a quick turnover of coins bought for research; but my purpose is information not profit.

tommy44

I used that feature to sell one of my "mistakes", at a profit even.

PhilLynott

What is HA's cut when using this feature?

I've also tried a few times as a buyer and never won one, definitely nice to at least have the option.

santinidollar

Congratulations! Good to know that feature of Heritage can produce results.

tommy44

@PhilLynott said:
What is HA's cut when using this feature?

I've also tried a few times as a buyer and never won one, definitely nice to at least have the option.

HAs cut is 10% and no returns if I remember correctly. The buyer pays Heritage, you ship to Heritage, Heritage sends you a check.

PhilLynott

@tommy44 said:

@PhilLynott said:
What is HA's cut when using this feature?

I've also tried a few times as a buyer and never won one, definitely nice to at least have the option.

HAs cut is 10% and no returns if I remember correctly. The buyer pays Heritage, you ship to Heritage, Heritage sends you a check.

Thanks for the info! 10% is reasonable and can definitely create a win for all 3 parties involved.

BillJones

I sold one coin that way, but never any responses from the offers. I suspect that some of those coins have already changed hands.

TradesWithChops

It worked for me, once. Ive submitted at least 50 such offers... once is better than never!

tommy44

@BillJones said:
I sold one coin that way, but never any responses from the offers. I suspect that some of those coins have already changed hands.

I agree, the coin I actually sold is out there now in a previous PCGS slab. Was out there when I bought mine "regraded" and "re-doctored" in a new slab and has been there for years.

Proofmorgan

I just had this work for me after many attempts a couple months ago. Many instant declines and finally paid moon money enough to get it.

The starting offers are significantly higher than the sold price. This also has to offset the 10% HA takes so it makes sense. You can easily end up offering 20% over the sold price or more to ensure HA gets their cut and the seller makes at least 10%.

savitale

@JasonGaming said:
Fantastic specimen. I’ve been looking for a clean example around G04 with no avail. Good job!

There are about 10 graded examples in all grades, so you might have to widen your search a bit. I’ll bet there are still some examples out in the wild though as I don’t think this is a very well known variety. Given how dramatic the DD is, personally I think it should be a Redbook variety.

jgenn

@tommy44 said:

@PhilLynott said:
What is HA's cut when using this feature?

I've also tried a few times as a buyer and never won one, definitely nice to at least have the option.

HAs cut is 10% and no returns if I remember correctly. The buyer pays Heritage, you ship to Heritage, Heritage sends you a check.

HA has a minimum commission of $40, however. Perhaps not so good for lower value items although I have sold a few that triggered the minimum commission.

@Proofmorgan said:
I just had this work for me after many attempts a couple months ago. Many instant declines and finally paid moon money enough to get it.

The starting offers are significantly higher than the sold price. This also has to offset the 10% HA takes so it makes sense. You can easily end up offering 20% over the sold price or more to ensure HA gets their cut and the seller makes at least 10%.

You have the option to set your price lower than the default starting offer price. I have done this for a few items to make them more likely to sell.

Zoins

@TradesWithChops said:
It worked for me, once. Ive submitted at least 50 such offers... once is better than never!

Congrats!

I'm 0 for 2. I wonder if I need 48 more to get my first success!

savitale

@Zoins said:

@TradesWithChops said:
It worked for me, once. Ive submitted at least 50 such offers... once is better than never!

Congrats!

I'm 0 for 2. I wonder if I need 48 more to get my first success!

I suspect it’s mainly luck. If this coin were part of someone’s core Seated Liberty Dime collection, I don’t think the hand of God would have been able to pry it loose.

TradesWithChops

@savitale said:

@Zoins said:

@TradesWithChops said:
It worked for me, once. Ive submitted at least 50 such offers... once is better than never!

Congrats!

I'm 0 for 2. I wonder if I need 48 more to get my first success!

I suspect it’s mainly luck. If this coin were part of someone’s core Seated Liberty Dime collection, I don’t think the hand of God would have been able to pry it loose.

interestingly, it was a coin in the persons collection interest. also interestingly, i got connected to a group of people after i bought it - which happened to include said person. I met them in person for dinner with several other people present. too bad i didnt meet him before buying the coin to save the 10% fee

But since that first coin in HA, I did follow-up and buy two more coins from this individual over the past year. Both coins are the same year/mint - ha! 1874-P trade dollar with a chop mark: One with a period after fine, one without. Coincidentally, one of them is also tied for top pop - one of two coins graded in uncirculated condition. (And this individual still maintains a registry for them as well).

So, it can happen.

savitale

I wonder if that would be a bit awkward, meeting the person who sold you a coin through Make Offer To Owner. I hope the conversation didn’t start with “Some guy on the internet made me this crazy offer through Heritage ....”

yosclimber

It's a great variety!
Gerry rates the 1873 arrows F-103 as R6 in VF-MS (13-30 known), which lines up well with the 10 graded.
http://www.seateddimevarieties.com/date_mintmark/1873wavarpage.htm

https://forums.collectors.com/discussion/847894/and-one-more-dime-by-mr-goodman-an-1873-ddo-in-ms
https://forums.collectors.com/discussion/1001204/rate-the-25-greatest-u-s-doubled-dies

jgenn

@savitale said:
I wonder if that would be a bit awkward, meeting the person who sold you a coin through Make Offer To Owner. I hope the conversation didn’t start with “Some guy on the internet made me this crazy offer through Heritage ....”

After I was the winning bidder on a HA auction I quickly received a buy from owner offer, that I refused because it fit the theme of one of my sets. However, after I received a higher offer (that I also rejected) I was very curious why this coin generated so much interest. I posted on several forums to see if I could connect to this collector and finally got in touch more than six months later. Maybe it was a bit awkward but it resulted in a wonderful dialog that I hope the collecting community appreciated.