Home U.S. Coin Forum

What kind of games do they play on Teletrade?

I bid on a coin on teletrade tonight.
While looking for info about it I checked the price realized for the coin.
It is right there above the coin you are looking at.

The second coin down the line was the coin I am bidding on same cert # !!??
It had sold in Dec 03 and was back again.

Do they just recycle the stock around?
If an item did not bring the price they want do they just out bid you and list it again?

What goes on there?

Glen
I don't buy slabs I make them

Comments

  • It could be that the purchaser in December returned the coin.
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>The second coin down the line was the coin I am bidding on same cert # !!?? >>



    That means the coin was returned by the previous bidder.

    Russ, NCNE
  • DHeathDHeath Posts: 8,472 ✭✭✭
    or was repurchased by the seller. On TT, a seller can bid on their own coins, but must pay the fees just like a regular buyer.
    Developing theory is what we are meant to do as academic researchers
    and it sets us apart from practitioners and consultants. Gregor
  • Teletrade confuses the hell outa me too.
    I figure three more bourbons and 400 milligrams more of Thorozene,... I'll be right on track.

    Craig
    The Rede we live by: If it harms none, do what you will.
    image
  • PlacidPlacid Posts: 11,299 ✭✭✭
    Is it possible the buyer in December is reselling it through teletrade?
    Seems like along time to get a return back in auction.
    How long do you have to return a coin with teletrade?
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>or was repurchased by the seller. >>



    I'm pretty sure that if it's repurchased by the seller it shows as "not sold" and wouldn't appear in the history.

    Russ, NCNE
  • K6AZK6AZ Posts: 9,295
    Teletrade can be hard to figure out sometimes, but I have scored some nice coins there for decent prices. The last one was the PCGS MS63 1904-S that I got, with the juice the total was $1925.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Since TT owns some of the coins themselves, you know there have to be reserves in effect. If the coin doesn't sell the 1st, 2nd, 3rd, etc. time, it will keep showing up until some first timer snags it.

    It would be nice to know what coins are owned by the house and which by consigners. I would venture that the majority are consigned by dealers, and in many cases by Teletrade owned interests. Anything goes at that point. It's a tough game to beat them at.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file