Teletrade.... Don't waist your time.......

Peaceman

Teletrade had about 50 Peace dollars for "auction" this Sunday... only 1 sold (an ICG POS...) I put a bid into a few coins that were at least $ 100 over greysheet.... this was my first time using this auctioner and most likely my last... they hide everyone's bids and never indicate there's a reserve price.

So I bid $ 100+ over greysheet and here's the answer I get from them after looking at their "realized prices" once the auction closed.....

"Note: If a lot does not appear here with a realized price, it did not sell. Such lots were
either not bid on beyond our opening price, or they were bought back by the consignor"

WTF...... why even call it an auction......

291fifth

Yet another example of the "double nuclear" market.

Russ

Peaceman,

When you say this Sunday, are you referring to today? If so, the auction is still running.



<< <i>they hide everyone's bids and never indicate there's a reserve price. >>



This is no different than any major auction house - Heritage, Superior, Goldberg, B&M, etc. eBay is just about the only auction venue that doesn't hide identities and reserves.

Russ, NCNE

Peaceman

Not for peace dollars.......

wingedliberty

Teletrade is a joke. I'll take Ebay over Teletrade any day.

BASEagle

Oh, yes. A waist is a terrible thing to mind.

Mike

bennybravo

My theory is that Natcoin......Er, I mean Teletrade, is not getting nearly the amount of submissions that they did in their pre eBay days, so more of the coins are actually owned by Natcoin.....er,I mean Teletrade, and they aren't going to let anything go unless you meet that full retail reserve on mostly average stuff.Some deals are still there between the high reserve no sales, they are just alot harder to find nowadays it seems.

Disclaimer:I have no knowlede of an affiliation between the two previously mentioned entities, just my theory,I could be wrong.

airplanenut

Never joined

MacCoin

tt prices are to crazy for a poor man like me.

Mack

The biggest problem I see with teletrade is the quality of their stuff. Although slabbed by PCGS and NGC, their stuff is most often low end quality. Most MS66's have so many abrasions, marks, nicks,etc. it's not even worth the trouble to bid. Anyone have the same opinion?

ER

Less competition for me, thank you.
While I agree that a lot of their coins are low-end or average for the grade, there are times you can get lucky with nice coins, too. Their services are terrific, at least for me, so far.

Shamika

AGREE!

There descriptions are terrible. Everything is "above average" or "excellent" (i.e. above average strike, excellent luster).

Although I still preview their auctions, I haven't bid on anything in more than 12 months. I've been burned too many times.

marcmoish

Teletrade is the official dumping ground for folks - I'd stick with E-bay blindly over them. That is what you call a true auction.




Marc

ClausUrch

I've had very good luck with TeleTrade. It's just like everywhere you buy online; you have to look at the coin. Their close up images can't get much better. By the way, they have quite a few "problem" MS67 Silver Commemoratives for auction tonight! But then, these coins should only be MS66 or MS65 and are horribly overgraded by both PCGS and NGC; that is why they are "dumped" on TeleTrade.

djm

If you feel the MS67 coins are overgraded then buy them for the MS65 or 66 price and send them back to PCGS for the down grade and collect a few bucks on each one.

Gerry

IMHO, Teletrade has gone downhill since Natcoin took them over. I believe that it is more like a retail outlet than a true auction these days.