Question about Heritage coins and auctions....

Manorcourtman

Do they just buy and sell/auction coins or are most coins owned by others and they simply are a true auction house?? Thanks, Chris

SDCollector

I think the short answer is they do both.

shylock

They're so big I doubt even their employees know for certain where all their coins come from. Here's my guess:

Most of their Signature sales are consignments, but with some of their own coins sprinkled in. Some of "their own coins" were won in previous Signature sales -- they place bids in their own auctions before they hit the floor -- so these are actually recycled consignments at a higher reserve. Bullet sales are the same scenario but lower end coins they prefer not to group with the rest. Weekly auctions are mostly their own coins with a sprinkling of minor consignments.

This is just a guess based on the number of coins I've seen relisted in auctions over a short amount of time. Plus, they once offered me back (at a higher price) a coin they won from a Signature consignment of mine. I had that date on my wantlist and they had no clue I was the person that consigned it to them to begin with. I've also seen other coins of mine that "sold" in Signature consignments in their inventory.