PCGS vs. eBay....free advice for CU and a new auction site

Manorcourtman

Hello Mr. Hall and fellow stockholders,

You have the finest collectors and coin dealers in the world on this site each day. You've heard the people complain that eBay has become out of touch and prohibitively expensive for many dealers. Why not start for example......PCGSAUCTIONS.COM. Offer a simple auction site of only PCGS coins....and maybe other certified coins.....ie. NGC, ANACS......and charge a reasonable fee of say.....2-4%. Since many people trust you why not give it a shot. Since storage space is cheap these days, what do you have to lose? I bet a PCGS auction site would do very well. I as well as many other collectors would flock to a site with only Certified, reputable coins. Just a thought........Chris

mercurynut

I second this idea! It would be a gret thing to have available to collectors.

Oldnewbie

Cool idea. Then we could have a bunch of scumnuker types running around like white blood cells. Any volunteers?

dbldie55

Terrible idea. Stick to what you know.

dthigpen

This will not happen.

Bear

I think it would be a bad idea. We have an excellent Buy/sell Forum

which is monitored closely by the Forum Members themselves. It is honest,

quality coins frim honorable well known collectors and dealers. We open the flood

gates to all and we will be inundated fy the sleazebage, con artists and sharpies.

Lets not fix something that is not broken.

1946Hamm

Collectors Universe had an auction site back in 1998. I purchased a few coins in their auctions in July , August and September 1998. I don't know why it folded but the folks at PCGS parent company has been there and done that.

It was a good place to get PCGS graded coins. The price you bid is the price you paid + shipping.
No buyers fee was added.

morgannut2

The problem is PCGS would undercut their own dealer network's product. At some point it might become a good idea as I think the era of the medium sized dealer with a storefront will end. I suspect it would be very profitable as a joint NGC/PCGS
auction location.

Manorcourtman

Hey Bear,

I appreciate your opinion but what's wrong with a site offering a trustworthy forum that only offers quality coins at a market determined value. The BST board is excellent but does not attract the quality coins that an auction site does. I'm sure the Coin Police would closely monitor a PCGS auction site. I'd like to see world class coins on this site. Why not let PCGS and CU profit from their efforts and allow us a chance at better quality coins?? Chris

leothelyon

<< <i>Hello Mr. Hall and fellow stockholders,

You have the finest collectors and coin dealers in the world on this site each day. You've heard the people complain that eBay has become out of touch and prohibitively expensive for many dealers. Why not start for example......PCGSAUCTIONS.COM. Offer a simple auction site of only PCGS coins....and maybe other certified coins.....ie. NGC, ANACS......and charge a reasonable fee of say.....2-4%. Since many people trust you why not give it a shot. Since storage space is cheap these days, what do you have to lose? I bet a PCGS auction site would do very well. I as well as many other collectors would flock to a site with only Certified, reputable coins. Just a thought........Chris >>



It would never happen! Unless it was established for Pcgs certified coins only! Like this website.

Leo

foodude

Interesting idea, but I agree with Stick to what you know. I think CU already has learned this

Wekar

morgannut2:

<< <i>I think the era of the medium sized dealer with a storefront will end. >>



, but to be more precise, it's the end of the brick and mortar storefront is coming to an end.

There are good number of dealers with WWW storefronts, and this is sure to increase, with more and more medium size dealers getting in this game. This could mean the end of the era of collectors learning from their local dealers while talking at the counter, there's not yet a great way to develop that relationship through the net.

Manorcourtman

Leo- Ok...how about a PCGS only auction site. You point out a website.....I'm suggesting an auction site. I'd love to see a PCGS only auction site. The point is.......many of us are sick and tired of high fees and low standards and ethics on the "big" auction site. Chris

stev32k

<< I think the era of the medium sized dealer with a storefront will end. >>

I agree with that, and it is very sad in my opinion. There used to be three coin dealers in town - two of them are gone and the third is trying branch out to other things. I used to love to go browse the stores and talk about coins and buy something I could see. Now all you see is photographs and you have to wait several days to actually get your coins. You buy and sell to people you never see and don't know except from email. You have to gage a sellers honesty from feedback, but an honest seller's reputation can be hurt by a dishonest buyer - then who do you believe? Oh well, a lot of things are changing.

lordmarcovan

Neat idea. Initially I thought it was a great idea, but then I cooled off on it somewhat. The free BST Forum is good enough for me.

RBinTex

Chris, it's already in the works at www.pcgs.cc (cc for "C"ertified "C"oins)

ms70

I have mixed feelings. The first thing that comes to mind is that their plate is full with coin grading AND moving into currency grading. I bet
it would take a long time for them to get it going if they wanted to.

But also coming to mind (I cant' explain why) is that NGC will probably do it tomorrow.

wayneherndon

Just did a whois on pcgs.net. Looks like that is redirected to Heritage.

WH

1946Hamm

Here is an invoice from one of the Collectors Universe auctions.

I don't know why the auctions stopped but PCGS has been there and done that. I wouldn't think they want to get in the auction business again.

At the same time there was a forum associated with collectors universe also. It folded and the auctions probably folded at the same time.

LindeDad

Sounds a lot like TeleTrade except I think there fees are a little higher?

BigGreek

<< <i>The problem is PCGS would undercut their own dealer network's product. At some point it might become a good idea as I think the era of the medium sized dealer with a storefront will end. I suspect it would be very profitable as a joint NGC/PCGS
auction location. >>



EBay is already undercutting the dealers. This is a GOOD IDEA!!!!

YCCY9229

I like this idea. GOOD IDEA!

Y.C.

Conder101

It has been mentioned here many times that people wished that there was another viable alternative to ebay. The standard comment has always been that buyer go to eBay because that's where the sellers are, and sellers go because that's where the buyers are and that would be a big handicap to overcome. An auction site that only accepted coins certified by the major services PCGS, NGC, ANACS and possibly ICG could possibly overcome that. They could promote the confidence you can have in the coins you receive because of the "safety" of the grading. Nothing raw, no blatent overgrading, no fakes. No wading through masses of junk, everything "certified by the pros".

zzzz

Chris .... I have an idea ...

Why don't YOU start up a competing "PCGS ONLY" internet auction site. Then everyone can "FLOCK" to your site ...

There are many other venues one can take their coins to NOW besides Ebay. Many small entrepreneurs that have internet auction sites. YOU can do it too. You don't need PCGS to do it FOR you ...

Me thinks YOU just want lower FEES ...
ME thinks you just want lower fees ...

I for one DO NOT trust PCGS ... I coexist with them but I don't trust them. I'm not that naive ...

leothelyon

<< <i>It has been mentioned here many times that people wished that there was another viable alternative to ebay. The standard comment has always been that buyer go to eBay because that's where the sellers are, and sellers go because that's where the buyers are and that would be a big handicap to overcome. An auction site that only accepted coins certified by the major services PCGS, NGC, ANACS and possibly ICG could possibly overcome that. They could promote the confidence you can have in the coins you receive because of the "safety" of the grading. Nothing raw, no blatent overgrading, no fakes. No wading through masses of junk, everything "certified by the pros". >>



Doesn't Teletrade already do that?

Leo