Russian roulette NY-style: Teletrade auctions ?

Colorfulcoins

Certainly a topic that's appeared here on the boards a time or two but sometimes, just a little bit of positive feedback helps - when something positive happens. Shill bidding, lack-of-pictures, fees, return policy - all the things we love to hate about TT BUT......sometimes ones does "win" in a TT auction - and I just did. Beautiful purple/blue/gold toned 2-sided PCGS MS66 washington quarter. And the price was really good! Just like some of you, I've found TT is like playing Inverse Russian Roulette - you bid, you win (sometimes), you get the coin and ...ugh...another dog and back it goes. About 5 out of 6 times, you "miss" and about 1 out of 6 you "hit" it - of course in this case "hitting" it is a good thing.

I've gotten some of my best and worst coins on TT - how about you? When was the last time YOU got a keeper on TT?

keithdagen

Got a nicely toned half dime a few weeks ago. I have a simple rule about Teletrade. No picture, no bid. Don't care if it's a Chain Cent in AU-58 or a Mercury Dime in GD-04, won't bid without a picture.

gmarguli

I would dispute the 1-out-of-6 win/loss ration. More like 1-out-of-200.

However, even if it is 1 of 6 the cost of those 5 retruns more than likely makes that 6th win too expensive.

Colorfulcoins

Let me add one more comment - if it doesn't say "attractive", "wild toning", "eye appeal" or some such indication of how nice it is, its probably isn't worth bidding on. The verbal descriptions are generally vague and even a 1000 words can't accurately convey what a coin looks like let alone the 10-15 average TT uses.

I'll amend my 1:6 rule and say its relative to coins with pictures and coins where the TT lister has indicated the coin is PQ at some level.

I'll also add that I can buy TT coins for the forseeable future and even with the return fees, I'll still be ahead give one fantastic purchase that literally put me $1000's ahead........just shows lightening can strike - and did for me. I've actually bid and won about 20 lots this year and kept maybe half - - ans that's alot better than 1:6......but maybe I'm just easy

shylock

IrishMike recently posted what turned out to be a lovely 1903 Indian cent (PCGS 64RD) he bought from TT at a great price. The image was very dark and his gut feelings paid off, so score one for Mike.

Teletrade is located in Kingston, NY, a town along the Hudson in upstate NY about a two hour drive north from NYC. I lived there for 12 years until 1987 (long before they started) and their Main St. address is almost next store to the bar that sponsored my softball team.

RotatedRainbows

I always look for coins that are described "above average strike and luster". You are more likely to get one that looks good and of course MUST have a photo.

IrishMike

Finding nice coins on Teletrade can be a daunting task. My daughters and myself enjoy collection cameo washingtons, bought one there and it was a great coin, so we bought several more there. Never disappointed in one of them. Two rules to follow for me, I don't spend over $250 on any coin there and don't buy without a picture. As far as that 03 MS64 IHC I recently purchased and showed on here, I was very skeptical of the color but not the strike. 64's can be all over the place both on strike, color, and spotting. This one is nicer than any of the PCGS 64's I now own and will cross with ease into a PCGS64. As on ebay, caveat emptor.

braddick

I agree with IrishMike- it's a daunting task, but one that is fun when conquered. Cool Coins can be found on Teletrade. I located a PCGS VG08 20cent on Teletrade and didn't pay much for it either.
Sometimes it is the only source for some of these whacky coins.

Greg's right in that if you have to send a coin back you're in a bad place, what with all the fees and junk.

Clankeye

<< <i>I'll still be ahead give one fantastic purchase that literally put me $1000's ahead...... >>



I am confused here, are you saying the Wash quarter you won on teletrade is worth $1000 more than you paid for it?

littlewicher

As for your title, gambling is illegal in NY state.

baron

I have watched Teletrade for two years (imaged coins only) and have never felt comfortable placing a bid. I felt that the imaging was poor and took that into consideration. I saw a coin that I considered promising and placed an appropriately low bid. I was amazed and concerned that I won. After waiting a short period of time I recieved the coin and IT WAS ABOLUTELY BEAUTIFUL

I now think that if one is patient, discriminating, and level headed, a gem could be found.

Tonelover

I agree that a picture is mandatory. Say you bid on this lot based on a description alone.

Lightly toned with a touch of gold, above average strike & luster, light rub, some hairlines.

Auction

I'd say that's a bit more than a touch of gold.

Probably 80% of the lots I've tried had to be returned. Now I don't bother anymore because the loss of fees is too much. I've noticed that if you include a disgruntled letter with your return, they will quite often return all comissions involved.

Russ

<< <i>When was the last time YOU got a keeper on TT? >>



Today. Two, actually. I buy quite a few coins through Teletrade and find them to be no worse then most other venues and sellers, and better then many. They ship quickly; returns are painless and quickly credited. Sorry that so many other people have had nothing but problems.

Russ, NCNE