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1870-CC $10 auctioned by Heritage...on ebay???

RYKRYK Posts: 35,797 ✭✭✭✭✭
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File this in the things that I do not understand in the coin business...

Why would the leading numismatic auctioneer (by volume, dollars sold, recently sold headliner collections, etc) have to use ebay to market/sell a significant gold rarity valued at over $30,000 on ebay? Is it that the coin is a dog and no dealer/collector would snap it up in the recent auctions? And if so, how many collectors are there out there that drop $30,000+ on coins offered on ebay (apologies to Legend, Anaconda, and anyone else who offers high dollar coins on ebay) rather than traditional buying channels (favorite dealer, auction, show, etc.)?
My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132

Comments

  • StCroixStCroix Posts: 42
    It's a very cheap ad for them. I am sure they have no intention of selling the coin but auctions in this price range usually get a lot of attention, and a very inexpensive way of getting the Heritage name out there.

    Anne (still reading and collecting, but rarely posting.)
  • FairlanemanFairlaneman Posts: 10,423 ✭✭✭✭✭
    Even though it looks like Heritage owns this coin it probably is consigned to them. Ebay is one of the venues Heritage uses to sell a coin that is consigned to them. I could be wrong but this was in the Heritage explanation of how they will try to sell a coin for you.

    I could be wrong about this.

    Ken
  • PlacidPlacid Posts: 11,299 ✭✭✭
    The coin sold for $32,200 in the 2004 Orlando, FL (FUN) Signature Sale January 6, 2004.

    Link to that auction


    Then it went back up for auction in the Exclusively Internet Auction that ended feb 10th but did not sell.
    Link to that auction

    Heritage often puts coins that do not sell at Heritage on eBay.
    Seems like the buyer at $32,200 is looking to make a couple thousand by flipping it.
  • pontiacinfpontiacinf Posts: 8,915 ✭✭
    comeon
    doesnt that mean that no collector feels this is worth the asking price?
    image

    Go BIG or GO HOME. ©Bill
  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    doesnt that mean that no collector feels this is worth the asking price?

    That would be my interpretation, as well.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • sinin1sinin1 Posts: 7,500 ✭
    they are doing it for exposure


    they may pick up a big buck client who knows of eBay but not Heritage site


    they may not own the coin - they have consignment options that include their auction site, their 'for sale' site, and listing on eBay


    it does not necessarily mean no collector likes this coin
  • cosmicdebriscosmicdebris Posts: 12,332 ✭✭✭
    Advertising plain and simple. The same reason they auction coins on eBay Live at the same time they auction the same coin on their website.
    Bill

    image

    09/07/2006

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