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Anybody notice there's a $50,000 Lincoln on Teletrade?

Comments

  • sonofagunksonofagunk Posts: 1,349 ✭✭
    I thought teletrade stopped selling coins and their only business is to post coins with ridiculous reserves just to make us laugh.

    like this
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  • marcalan84marcalan84 Posts: 310
    Most all of those Lincolns up in the Teletrade sale tonight will not sell. They have been up before...and most of them didn't meet reserves. I think only 2 of the coins I tracked even sold (out of more than 30+ coins).
    Marc
  • LeeGLeeG Posts: 12,162 ✭
    image I don't know if it's me or what? I just can't see spending 50K for a penny? I guess I'm nut's? You can buy a House or send a kid to college for that. To each their own, no problemimage Lee
  • ShamikaShamika Posts: 18,785 ✭✭✭✭
    Yea, I saw that too and thought the same thing. That coin is a bit much for Teletrade.

    Buyer and seller of vintage coin boards!
  • joeyukjoeyuk Posts: 3,282
    I have done searches on teletrade and heritage past auctions and find higher prices on heritage. I guess I should buy on teletrade and sell on heritage.
  • DMWJRDMWJR Posts: 6,008 ✭✭✭✭✭
    I don't know what they are up to right now. I placed some bids this past week on some MS67 Lincolns, and I fully researched the prices on TT and Heritage. Then I place bids at or near the top of the sales for the last two years. All of them were eclipsed by the reserves (There were about 10 of them). None of them sold.

    Could it be the reserves are set by a consigner who is testing the market?
    Doug
  • lloydmincylloydmincy Posts: 1,861 ✭
    joeyuk:

    You wouldn't buy on Teletrade. Reserves are ridiculous. One sale per 10 can't be what they want to accomplish. That 1917 DDO is NOT a $50K penny anyway... Seems like they spend a lot of time posting lots, that don't sell ??? Can't be too profitable after a while.



    _____Lloyd
    The Accumulator - Dark Lloyd of the Sith

    image
  • sinin1sinin1 Posts: 7,500 ✭
    do you think this seller has special terms?



    usually they charge 10% for items that do not exceed reserve
  • jacktheknifejacktheknife Posts: 1,547 ✭


    As most on these boards already know, this is about round number 4 for these coins. The initial reserves were set too high and they have been "recycled" after it was "leaked" that the reserves have now been lowered.

    My understanding is that these Lincolns will be available for retail sale at FUN.

    Jack
  • bearcavebearcave Posts: 3,996 ✭✭✭✭✭


    << <i>I have done searches on teletrade and heritage past auctions and find higher prices on heritage. I guess I should buy on teletrade and sell on heritage. >>



    I have bought on TT and sold on ebay and done quite well. You have to pick the right coins to make it work.
    Ken
  • sonofagunksonofagunk Posts: 1,349 ✭✭
    Oh surprize, it did not sell. I am so a-mazed.
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