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I KNOW IT'S BEEN DONE BEFORE BUT I'M BASHING TELETRADE AGAIN

PeacemanPeaceman Posts: 5,098
in U.S. Coin Forum
These guys have nerve.... Charging me $ 52.50 to take back a $ 850 coin that they "described" as nice luster and well struck...... It came to me with a patina and uneven toning and was a piece of $hit.....

THINK ABOUT THE NEXT TIME YOU BID ON SOMETHING ON TELETRADE..... YOU'LL GET WACKED IF YOU RETURN IT......

They lost me as a customer... Teletrade can GGF.......image

Comments

  • keetskeets Posts: 25,351 ✭✭✭✭✭
    oh well, they'll probably survive.

    al h.image
  • Dave99BDave99B Posts: 8,528 ✭✭✭✭✭
    Bid low on TT. If its ugly, sell it on eBay, and hope you break even.

    Dave
    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • FairlanemanFairlaneman Posts: 10,423 ✭✭✭✭✭
    GGF or GFT ?

    Seems like everything I look at is way high priced. Have not bid there since it was a phone in deal.

    Ken
  • PeacemanPeaceman Posts: 5,098
    GGF....GFY.... and everything in between....

    They will survive.... they could care less... I wouldn't mind their postage fee and maybe $ 8-10.... That's fair... But eventually they'll piss off too many people and they'll feel it....

    As far as selling it on ebay..... I don't sell garbage..... I don't want to be known for selling low quality items......
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    THINK ABOUT THE NEXT TIME YOU BID ON SOMETHING ON TELETRADE

    hey Peaceman

    you might take a hint from your forum ID and calm down a bit. also, warning us to avoid your mistake is certainly nice, but you should have figured that into your bid and stayed low.

    this highlights a problem that i've tried to breach here in the recent past, that being the escalating prices of the current market and the collector-unwillingness to slow down. without knowing anything about the subject coin, i would suggest that a pass may have been the prudent thing and some waiting would have paid you dividends. i just think too many collectors are way too impatient in their scrambling to snatch up coins which are flooding out as prices rise.

    BTW, i won my first coin over there last night in well over two years.

    al h.image
  • orevilleoreville Posts: 11,953 ✭✭✭✭✭
    Peaceman: Careful!

    You might be building up Teletrade's reputation up with your criticism. i thought it was going to be worse!image
    A Collectors Universe poster since 1997!
  • PeacemanPeaceman Posts: 5,098
    My bid was low... I just didn't know about the "FEE"..... We learn from our msitakes......

    I won't be buying anything from them in the future..... I wonder if they pay on a per call basis for their 1-800 number.... mmmmm.... 675 calls to them over the next 3 months..... heck... we're even.....image
  • JoeBoatJoeBoat Posts: 16
    Well, how was the luster and the strike?

    image
  • prooflikeprooflike Posts: 3,879 ✭✭
    I haven't even looked at TT in years. Although the coin I was deceived on wasn't terrible, it was the principle of the lie. I haven't bpthered with them since...

    BTW, their 800 line is probably flat rated and for the service it provides, it's cheap...
    image
  • PeacemanPeaceman Posts: 5,098
    Dam....image Guess I'll have to spend a few hundred dollars and fly out there a break a window or 2......image
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Imo, the TT's fee structure is such that they would like nothng better than to see the same coin bought and returned multiple times before either selling it for good or returning it to the owner. They are no different than an ATM machine was a net 5% service charge per transaction. The classic coins get more lower end each year.
    It's gotten close to impossible to make money on a classic coin valued over several hundred dollars. And if you do....the other 5-10 coins you took a loss on will more than balance it out. Go play the craps table, it's better than odds that TT if you're buying classics.

    I recall forking over a return fee on a $10,000 coin a few years back.
    That really suc#ed!

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • gemini12398gemini12398 Posts: 885 ✭
    Hi all, I voiced my gripes about this topic several weeks ago. Stay away from teletrade, period. They even charge NYS sales tax when they are based now in California. Heritage doesn't do this, and believe me, that sales tax is huge, especially when they charge it on top of the buyers commission and the shipping charges, too.
  • orevilleoreville Posts: 11,953 ✭✭✭✭✭
    Just as an aside, the parent company (GMAI) stock is way down in the last month. from 17 to 10.
    A Collectors Universe poster since 1997!
  • stmanstman Posts: 11,352 ✭✭✭✭✭
    Hey sorry for your loss. But, you should know the agreement you were involved in so... image

    We have many esteemed board members that I'm sure charge more for re-stocking fees. Oooops I'm sorry we're not supposed to
    talk or mention that. Just when it's non-posters do we do that.
    Please... Save The Stories, Just Answer My Questions, And Tell Me How Much!!!!!
  • RodiusRodius Posts: 857 ✭
    I want to pipe in on this Teletrade thread. I just bought 3 Jeffersons PR 70DCAM that I am putting into my registry set. I search around for the same coins, but on ebay I'll pay the same prices and have been looking on the message boards for the same coins and have come up empty. As well as sending off multiple coins to PCGS for grading and never seem to come up with the grade. They have the coins I am looking for and they get to me within two days after the ending. Sure the buyers fee is steep, but the coins have been great. They even sent me a thank-you note for the purchases. I wonder what the place looks like in Irvine, CA. Are they spending all of that money on furnishings or does it go to pay salaries.

    Just some thoughtsimage
    imagePCUSAimage
  • dpooledpoole Posts: 5,940 ✭✭✭✭✭
    Once in a while, you can still score on Teletrade. It's a gamble, but at least you CAN return it, with 5% charge for your little lesson in life. 10% BP isn't bad either, compared to those other guys.

    As always, caveat emptor. You just have to know what you're risking, but you may decide it's worth the risk.

    Here's a warning parable for coin collectors...



  • PeacemanPeaceman Posts: 5,098
    Stman..... Your time will come.......image
  • stmanstman Posts: 11,352 ✭✭✭✭✭


    << <i>Stman..... Your time will come.......image >>



    Thanks for the good words. My Mother used to tell me that as well (may she rest in peace.)

    Believe me..... I've had "my time" everyday is a Holiday!!!!!
    Please... Save The Stories, Just Answer My Questions, And Tell Me How Much!!!!!
  • dragondragon Posts: 4,548 ✭✭
    I wouldn't bid in another Teletrade auction either. About 2 yrs. ago I won an 1878-CC in NGC MS65PL, the pics on Teletrade looked excellent, the coin in person however was AWFUL, a real dog. I immediatly sent it back and got hit with a big return fee plus 2-way postage costs. Cost me about $100.00 to view an awful coin for 2 seconds and return it. image
  • VeepVeep Posts: 1,423 ✭✭✭✭
    "Cost me about $100.00 to view an awful coin for 2 seconds and return it. "

    That cracked me up. Only because I've done the same thing. If you didn't laugh, you'd cry.
    "Let me tell ya Bud, you can buy junk anytime!"
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭
    Interesting. I've not ever purchased a TT coin which looked significantly different than what I saw pictured.

    My icon, in fact, was a Teletrade coin.

    I wonder: Is there any particular type of coin that is often "not as pictured" in a Teletrade auction? For most of what I've picked up there (mostly AU-58 type), what I've received is pretty much exactly what was shown.
  • ShamikaShamika Posts: 18,781 ✭✭✭✭


    << <i> These guys have nerve.... Charging me $ 52.50 to take back a $ 850 coin that they "described" as nice luster and well struck...... It came to me with a patina and uneven toning and was a piece of $hit..... >>


    This is exactly why I've not bid on teletrade material in nearly two years. I won a coin that was no where near what they described it. And then they want my first born to take the coin back. image
    Buyer and seller of vintage coin boards!
  • Dog97Dog97 Posts: 7,874 ✭✭✭
    Peaceman apparently you hadn't read the fine print in TT's auctions. I've been harping about their return fees for years.
    Change that we can believe in is that change which is 90% silver.
  • wondercoinwondercoin Posts: 16,905 ✭✭✭✭✭
    No need to "throw out the baby with the bathwater" here - IMHO, the high end MODERNS that are offered for sale on TT are of exceptional quality overall these days. I, personally, would not hesitate to bid on nearly all of them (and have). I have NEVER had any need to even think about returning a MODERN lot, even all of the PCGS coins I have bid on sight-unseen this year. I will defer on the classics as I have done far less business on those coins with TT.

    FINALLY, if there was a case of GROSS miscataloging, I would not rule out TT Customer Service working with someone who "pled" their case in a professional manner. BUT, if the issue was that severe, another option would simply be returning the coin to the grading service who holdered it in the first place.

    Just my 2 cents from a SATISFIED TT customer AND IF MY PERSONAL EXPERIENCES WERE TO CHANGE WITH TT, YOU CAN REST ASSURED I WOULD DISCUSS MY CONCERNS.

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • braddickbraddick Posts: 23,963 ✭✭✭✭✭
    There is a small cottage industry among some Collectors buying Teletrade coins to sell on eBay and vice-versa. Different Series attract different audiences with both auction sites.

    One small example: 1972-S PCGS MS68 Ikes could be purchased off of eBay for $80.00 +/- and routinely sold on Teletrade for $140.00 or more. That window of opportunity has since closed, but there are many other examples that work today.

    peacockcoins

  • dorkkarldorkkarl Posts: 12,691 ✭✭✭
    it is always stupid to buy coins sight unseen, & you know it. you bought a piece of plastic & deserved to get burned.

    if you haven't learned that lesson by now, your not a coin collector, & maybe never will be.

    teletrade's NOT the problem here.

    K S
  • Sn3nutSn3nut Posts: 41
    I have been both a buyer and consignor on TT for years and have never had a problem with them or their policies. Of course, I have never bought a coin from them that I needed to send back either. I suppose if I ever got burned I would have a different opinion. As to the quality of their material, I think the modern stuff is great. Then again, how can PR 69s and 70s not look good? I agree that a lot of the classic coins and items of interest seem to be a bit pricy, but that's not due to TT -- it's a combination of the greed of the consignors and a mentality among the bidders that can't seem to "just say no" when bids get too high. I've got a dozen coins there now for the Oct 25th auction including a half dozen MS66 Morgans, and I'll admit that I set the reserves a bit on the high side. But -- bet you a dime to a donut that they all sell!
    Bob, the "Sn3nut"
    My 1949 Mint Set
  • ShamikaShamika Posts: 18,781 ✭✭✭✭


    << <i>Then again, how can PR 69s and 70s not look good? >>


    That SHOULD be the case and yet...

    Buyer and seller of vintage coin boards!
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>IMHO, the high end MODERNS that are offered for sale on TT are of exceptional quality overall these days >>



    Of course they are, wondercoin. Many of them are yours or your client's coins.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • MorganluverMorganluver Posts: 517 ✭✭✭


    Wow!

    Hope I didn't make a mistake as I too consigned 18 rainbow Morgans in the Oct. 25th auction. To give you a contrary opinion, I believe that
    whomever wins these coins(no reserve, by the way) will be pleasantly surprised as the coins look much nicer than the pics provided.
    I have purchased many coins from them over the years, mostly toned, and have always thought the coins were nicer in hand and never
    wanted to return one. At least you have the option to return which is more than I can say for most of the major auction houses.

    Just my humble opinion.

    image
  • wondercoinwondercoin Posts: 16,905 ✭✭✭✭✭
    "Of course they are, wondercoin. Many of them are yours or your client's coins."

    A point I repeatedly make here on the boards, especially when I "flag" specific auctions on the Registry Board. And, yes, the quality overall is FABULOUS on the PCGS-PR70DC coins I handle on a daily basis. I got in a few PR70DC coins last week I noticed had some spots on them - they will be on DH's desk next week for his review. image

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • Conder101Conder101 Posts: 10,536 ✭


    << <i><< These guys have nerve.... Charging me $ 52.50 to take back a $ 850 coin that they "described" as nice luster and well struck...... It came to me with a patina and uneven toning and was a piece of $hit..... >> >>


    Did you read the tems of sale? It should have come as no surprise. The return fees for TT have always been horrible.

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