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Teletrade Auction Questions

moosesrmoosesr Posts: 1,966 ✭✭✭
in PCGS Set Registry Forum
I have been considering putting some MS67 Kennedy's and MS65/66 Ike's on Teletrade auction, but have never dealt with them before? On their submission form you are asked to put an estimated value for the coin. Do they start the auction at that value? Anyway, I compared prices for coins similar to mine on eBay and it seemed Teletrade would be a better way to sell the coins. Any recommendations and comments would be appreciated.

Thanks,
Charlie

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    sumduncesumdunce Posts: 1,247 ✭✭✭✭
    Try selling them on the message boards first (why get auction price when you may get asking price).

    I have not sold anything on TT in a while but the estimated value is for shipping insurance (in case the coin needs to be returned to you) and to fulfill the dollar amount required by TT to submit the coins for auction.

    If you want to set a reserve then you will need to contact TT. You could also set a buy-it-back amount (I don't know if that changed either).

    Bottom line: If you really want to optimize your TT auction then contacting TT may be in your best interest.
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    FullStepJeffsFullStepJeffs Posts: 1,874 ✭✭✭


    << <i>On their submission form you are asked to put an estimated value for the coin. Do they start the auction at that value? >>



    Charlie,

    From what I've seen, I agree with Sundance... try to sell them on the board first. Depending on the dates/rarity... you might just find someone here wanting those coins.

    The estimated value can be figured out using their price guide on the Teletrade site. From what I remember, it has to be atleast $1000 worth of coins. The auction starts at $3, but you can put a buy it back reserve on the coin prior to the auction... look at their rules and the potential cost for that on their website.

    I hope this helps, but defer to the gurus...

    Steve
    U.S. Air Force Security Forces Retired

    In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.
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    DakotasCoinsDakotasCoins Posts: 3
    I agree with offering them on this board. I am new to the boards but have been reading them for months now. The group of people here really seem top notch and I have learned so much, being a rookie and all, that I owe a lot to all. I am working on a ms kennedy set and would love to know what you have. Thanks a ndhave a great evening.

    I am listed on the pcgs registery sets as Dakotas Coins, E-bay as Elaviii and my Email is elaviii@comcast.net
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    djmdjm Posts: 1,559 ✭✭✭✭✭
    1) The value on the submission form is only for insurance purposes. Be sure that the values add to $1000 or more because they may not accept your submission.

    2) Starting prices are usaually set at 1/3 of the expected selling price. Sometimes they start them at $3.

    3) Despite what you have heard on the boards. Teletrade does not have reserves you must place a bid and If you win the coin you will be charged the buyback fee. Tip: Never bid on your coins during the auction. If you win you are double charged buy+sellers fee. If you select Guarenteed Sold and the coins sells the second or third time around you still pay the buyback fee.
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    sinin1sinin1 Posts: 7,500 ✭
    Teletrade -> 10 coin minimum or $1000 value


    disadvantages of Teletrade are the length of time taken to get paid

    if buyer does not likecoin, they return it and list it again - could be a couple months later than first auction

    takes a few weeks to get item listed and a few weeks to get paid


    could be 3 months before check arrives from when you ship


    BST board - be careful that funds are good before shipping many have been stung with bad checks
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    djmdjm Posts: 1,559 ✭✭✭✭✭
    Sinin1: Teletrade recentlydroped the 10 coin, Now it is a straight $1000 of declared value.

    Teletrade as also added a $2.00 per coin fee for submitting your coins to the Grading Service of your choice.
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    Dan50Dan50 Posts: 1,809 ✭✭✭
    Well DakotasCoins don't make yourself so scarce from now on. Welcome to the boards.
    image
    Dan
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