R&I Opens Online Coin Auction Site!

ultimatecameo

R&I is now hosting the ONLY Ebay style auction site strictly made for numismatics!! Please visit us at:
www.ricoins.com/riauctions

Come buy, sell and trade all your numismatic items with us!

coinlieutenant

I guess this is a good time to ask you why you havent returned any of my phone calls about the franklin half dollars that my father bought from you...

I want to sell them back but there seems to be no way to reach you...

Phone number is 831 656 7994.

All Cameo/UCAM proofs that were on your "highest tier" recommendations...

Would really appreciate a call.

V.r,
John

UncleJoe

Must not be READING the boards.

R&I

Joe.

coinlieutenant

Uncle Joe,

Are you talking to me?

V.r,
John

TheNumish

John,

There was a thread about the auctions yesterday. Not about them not returning phone calls. I've tried selling them coins and never got returned calls or emails. Have a feeling they get offered a lot of coins and focus more on selling then buying. You might have to just sell the coins on ebay.

coinlieutenant

Numish,

Thanks, I was wondering how that thread had anything to do with R&I not calling me back.

Here is a question though, do you think that is good business?

John

TheNumish

I think if he doesn't have time to call you he should have one of his employees call. Even to just say they have enough inventory and don't want to buy them.

I wish them success in their auction.

XpipedreamR

That site is really painful to look at



I don't know how you could have actually opened the site with that color scheme, unless, perhaps, you previewed and approved the Braille version

coinlieutenant

You know the really sad thing numish? I did put one of them on ebay at one cent, No Reserve...you know who bought it....???.....UltimateCameo....



What about it R&I?

Can you give me a call and have me ship the coins to you for an offer?

coinguy1

<< <i>I guess this is a good time to ask you why you havent returned any of my phone calls about the franklin half dollars that my father bought from you.. I want to sell them back but there seems to be no way to reach you.... >>

John, perhaps Rick didn't receive your phone message. Hopefully he will see your reply in this thread and you can also PM him through the forum. Best of luck to each of you.

RYK

You know the really sad thing numish? I did put one of them on ebay at one cent, No Reserve...you know who bought it....???.....UltimateCameo....

This might be a good example of the lack of a two way market in high grade moderns.

Neptune

yeah that blue on black is hard on eyes.

RYK

yeah that blue on black is hard on eyes.

Sounds like there may be more "black-and-blue" when the CL gets done with him.

kieferscoins

Very hard to read and hurts the eyes.

Cameron Kiefer

MICHAELDIXON

I would like to see him succeed!

RYK

I've tried selling them coins and never got returned calls or emails. Have a feeling they get offered a lot of coins and focus more on selling then buying.

I think if he doesn't have time to call you he should have one of his employees call. Even to just say they have enough inventory and don't want to buy them.

Oh, yes, I can just hear the secretary now, "We only sell this crap. We do not buy it! Bwaaaaaah Hahahahahahah!"

coinlieutenant

Im not here to beat anyone up...

I just want to give RT a chance to give me a call back and buy back all these coins that he sold my dad. He said that they were of the highest quality and eye appeal. Figure that a dealer would want to have that type of stuff in inventory.

I know that he is busy so I can wait a couple of days...

As far as the web auction site, I hope it is legit and works out as an alternate to sleazebay.

John

Mintstate

<< <i>I guess this is a good time to ask you why you havent returned any of my phone calls about the franklin half dollars that my father bought from you...

I want to sell them back but there seems to be no way to reach you...

Phone number is 831 656 7994.

All Cameo/UCAM proofs that were on your "highest tier" recommendations...

Would really appreciate a call.

V.r,
John >>



I've had the same experience with R&I. Even tried getting them to sell them on consignment. They were all high grade cameo halves that I paid well over several thousand each for.

coinlieutenant

Mintstate,

Why wouldnt they take them on consignment or buy them back do you think??

Anyone else had this experience with R&I?

Vr,
John

SanctionII

I do not know what the buying side of R&I is. However, years ago I spoke with them on the phone and told them I was going to be in Encinitas, that I had multiple cameo coins from 1950-70 I was open to selling and that I wanted to meet an R&I rep to look at the coins. R&I's response was a firm NO. I have been told by an Orange County coin dealer that he sells 1950-70 raw cameos he comes across in original proof sets to R&I at 2 - 2.5 times bid.

I suspect that R&I looks at cameo coins submitted by dealers, picks out cameos that meet its criteria, pays some amount more than bid, submits large blocks of coins to TPG's for grading/slabbing and then markets the slabbed coins to its repeat customers at prices which are quite a bit higher than its purchase and slabbing costs.

Got to pay for the costs of doing business and have enough money left over to pay Uncle Sam, Uncle Arnold and your personal expenses. I do not think that R&I has a separate brick and mortar store location. Its operations must be done over the Internet and out of Tomaska's home or out of a small commercial space [not open to the public] that R&I rents.

Got to give R&I credit for promoting the modern cameo segment of the market. Tomaska's first book on 1950-70 cameos get me hooked on cameos. However, I have not yet bought a slabbed cameo. I prefer to cherry pick same. The cost is less and the thrill of the hunt for raw cameos [with the built in profit potential] makes for a fun way to spend liesure time and discretionary income.

Oh yeah, the R&I auction site is very hard on the eyes.

Mintstate

<< <i>Mintstate,

Why wouldnt they take them on consignment or buy them back do you think??

Anyone else had this experience with R&I?

Vr,
John >>



I don't know John. I was told to send them in for evaluation, and nothing was ever done with them. After 3 or 4 months, I had to ask for them back. He said he still hadn't looked at them. He hadn't had the time.

coinlieutenant

Hmmm...

Cameonut

I agree that the blue on black is quite hard on the eyes. Not fit for prolonged viewing.

Why would I want to sell a coin with the new R&I site (with perhaps 100 visitors) when I can sell on ebay where so many more people will see it?

guysmy

<< <i>Why would I want to sell a coin with the new R&I site (with perhaps 100 visitors) when I can sell on ebay where so many more people will see it? >>



That's what it comes down to. You have to offer people an incentive to sign up. The owner should throw up some really nice coins and start the auctions at a penny to get the ball rolling. If they go for peanuts it will serve as a great promotion; people will start talking and traffic will grow.

100proof1957

Bought a coin from them on PayBay,didnt really like it and sent it back for a replacement.
Couple days i get the replacement,no questions asked.

MICHAELDIXON

I sold a coin! I sold a coin! It works for me!!!

foodude

I would like to see him succeed!

A positive comment, in this forum- how did that happen. I too hope it works out for him.

100proof1957

Graphics are fine,the colors suck !

Strat

I have had positive experiences buying from R & I, but selling to them is difficult. They seem to be rather ambivalent towards buying from collectors, but perhaps that's how they choose to run their operation. Because attempts to sell to them produce no results, I don't bother trying. My understanding, just from reading their newsletters in the past, is that they buy from dealers who hold material especially for them. That's one typical way to buy inventory in the coin business. Their past newsletters also have indicated they take coins on consignment, as I recall an extensive collection they were marketing a couple years ago.

As far as their new auction site goes, I wish them luck and hope it does well.

RYK

I have had positive experiences buying from R & I, but selling to them is difficult.

I would not buy coins from a dealer who would not be interested in buying them back. Period.

kranky

<< <i>I would not buy coins from a dealer who would not be interested in buying them back. Period. >>



You got that right!

ibzman350

<< <i>That site is really painful to look at



I don't know how you could have actually opened the site with that color scheme, unless, perhaps, you previewed and approved the Braille version >>




I emailed about that painful blue font......reply was that the fix is in the works.

Herb

ibzman350

<< <i>I sold a coin! I sold a coin! It works for me!!! >>



I bought a coin! I bought a coin! It works for me!!! >>





Herb

coinlieutenant

Still no word from R&I....

Smittys

Why not do what Yahoo did when it started it's auctions, Free listings, only a charge for special listing and for final price percentage. Lots of people listed and now they make lots of money.
Give it a thought.
Smitty

ultimatecameo

It is free to list!! Just dont buy any of the add-on features. The only thing that costs money, is if you get money from a sale!! Even then, it is LESS then EBAY. We changed the colors around due to the overwhelming hate of blue... Give it a try! It is a great place where serious coin dealers/collectors can buy/sell their coins to people who know what they are looking for.

RYK

John,

I guess they do not want to answer your concerns here. I would put them on the small list of firms NOT getting my business.

DorkGirl

<< <i>It is free to list!! >>

Then please explain to me what the 75c "flat insertion fee" is. Thanks for your time--

coinlieutenant

Yes,

It is like I am talking to a brick wall...

John

oilydog

I too had a similar thing happen. I purchased several cameo coins from them in the late 90's, probably about 9 or 10. Not tons of money, maybe two or three thousand total. I wanted to change direction and sent them in for an offer. After about three months I gave up and had them returned. But instead of harboring any ill will, which I do not, I became more imaginative in my efforts to secure cameo coins. To wit, buying proof sets and cutting them out myself. Doing that was risky, and I did lose lots of money for a while. Then I became very good at what i was doing, and now I make very good money at it. In fact, Rick's company has bought at least two of my coins(in PCGS holders which I made at PCGS) within the past year from me using the EBAY venue. Any money I lost on the original coins I purchased from them was made up in those two coins. So they did me a favor when they did not buy those coins back from me. I thank him very much. As far as using his site, I have no need to do so. EBAY fits my needs perfectly. But that is strictly a business decision, not personal.

Smittys

Regular Auctions RT Recommended Auctions

flat insertion fee .75 20.00
renew auction fee .50 2.00
home page feature 20.00 20.00
bold title .50 .50
attention getters 1.00 1.00
pictures 1st free/ .10 each after free
better placement 5.00 10.00
Please tell how this is free.
Smitty

ultimatecameo

Like i said my friend, check it out! For the FIRST MONTH we have the auction sight open it is 100% FREE TO LIST COINS if you do not buy any add on features! For now it only costs money if you sell the coin. You found that under the Fees & Services section im guessing, and after the first month that will come into play. And, coinlieutenant, our telephone # is no secret... 858 792 1219 we are not "evading" you, but we believe these issues are private. But i can not guarentee that we will buy your coin back, for all we know you dipped it in acid. Now... R&I has THE LONGEST return NO QUESTIONS ASKED policy of 15 DAYS!!!(unless of course it looks like you took a hammer to it). We are reasonable people with good business ethics. We have always taken pride in selling the best of we have to offer, and making sure the customer recieves what s/he is expecting.

EVillageProwler

Mr. Tomaszka,

Besides the additional fees, how is an "RT Recommended Auction" a "recommended" one? That is, besides the additional monies into your wallet, what qualifies an auction to be "recommended" by you? Is there some qualitative criterion for this recommendation?

EVP

coinlieutenant

XpipedreamR

<< <i>Mr. Tomaszka,

Besides the additional fees, how is an "RT Recommended Auction" a "recommended" one? That is, besides the additional monies into your wallet, what qualifies an auction to be "recommended" by you? Is there some qualitative criterion for this recommendation?

EVP >>












Good question. I was wondering the same thing, myself...

RYK

But i can not guarentee that we will buy your coin back, for all we know you dipped it in acid.

Well, that should be easy to prove or disprove. If the slab number is the same as when you sold the coin, it was not dipped in acid. Unless, of course, R&I dipped the coin in acid.

JM, I would suggest reporting R&I to the PNG, but, oops, they are not members of the PNG. Doubt that they will be if this is how they behave. I agree, bad for the hobby and especially bad for collectors of Frankies, cameos, moderns, etc.

Tsimmerdown

Ugh..... replace the black background with white or grey. Don't you see how pleasant CU post are to read because the background is a light color?

Sounds like Coinlieutenant is pretty frustrated to be dragging that stuff out here in public.. maybe if his questions were addressed earlier it would have stayed in private the way it should be?

ultimatecameo

For a coin to be listed under RT Recommended it must be a exceptional coin for it's respected date and grade, AND it must be sent to our office in San Diego area so Rick can personally inspect the coin and deem it worthy. The cost is for shipping the coin back to you (with insurance), and for Rick's valuable time. The benefit of having a RT status on your coin is this: Anyone who has bought a Rick Tomaska Recommended coin KNOWS 100% that they are getting a coin worthy of their money. If sed person were to send their coin in, have it approved, then have it sent back, their coin would appear in its own RT Recomended section and any buyer would know that it is the real deal. Now, i do not recommend sending in a 15 dollar coin into us, having it denied, then be left with a 20 dollar bill to pay... this is a feature for people who wish to sell coins for 500$+ and want to give the buyer insurance, for what they are buying.

Tsimmerdown

<< <i>For a coin to be listed under RT Recommended it must be a exceptional coin for it's respected date and grade, AND it must be sent to our office in San Diego area so Rick can personally inspect the coin and deem it worthy. The cost is for shipping the coin back to you (with insurance), and for Rick's valuable time. The benefit of having a RT status on your coin is this: Anyone who has bought a Rick Tomaska Recommended coin KNOWS 100% that they are getting a coin worthy of their money. If sed person were to send their coin in, have it approved, then have it sent back, their coin would appear in its own RT Recomended section and any buyer would know that it is the real deal. Now, i do not recommend sending in a 15 dollar coin into us, having it denied, then be left with a 20 dollar bill to pay... this is a feature for people who wish to sell coins for 500$+ and want to give the buyer insurance, for what they are buying. >>



Sounds extremely subjective. What recourse is for the buyer if they don't agree with the RT recommended assessment? What guarantees are in place?

coinlieutenant

So...Ultimate Cameo...

If I bought a 10000$ 1950 Proof 67CAM Frankie from you that was a RT recommended....kept it for two years....and wanted to sell it back...assuming the market had not changed at all, what would you pay?

J

BigE

How much would he charge to tell me which coins not to buy on your site?-------------------BigE