Teletrade and $100 off $500 coupon

RobJoyce1921dVAMguy

Anyone notice any unusual prices for the teletrade auctions last night and ongoing tonight based on the $100 off $500 coupon they issues?

Rob

bgrice

Monday's always seem to bring some whacko prices on Teletrade, so add in the $100 *so-called* discount and it will probably jack it up some more. I guess if someone wanted a '55 DDO lincoln they had 3 chances over the last couple of days and some nice coins in the auctions(and not some), but I decided to sit on the sidelines and make offers elsewhere.

mercurydimeguy

I was winning 3 coins at reasonable prices after the $100 discount, but in the last 30 minutes lost them all

I used to get nice coins at fair prices off of Teletrade, but in the last 4-5 months I've won a whopping 3 coins.

Their prices (usually reserve -- not realized) are very high...higher than buying sight seen, Heritage and some other venues.

Something must have changed there in the last 6 months??

michael

nothing has changed just a fancy way of being a coin retailer under the guize of an "auction"

lacoinboy

there is nothing malevolent going on at teletrade. true, a lot of there material is probably reserved, but on any given night, namely monday, being the strongest night, they sell a lot of coins and get very strong prices. if you think about it, they have no real competition. ebay is a different business model, heritage exclusively internet have lost the battle to teletrade in this arena, david lawrence may one day pose a threat, and superior monthly collectors auctions really are undeveloped also though one day they might not be. like them or hate them, teletrade is doing well because they focus on one thing, they do it very well, and you dont see too much of that in todays world where every firm wants to be all things to all people. ps, that is almost certainly why tt have raised fees and they still do very well.

mozin

The $100 credit on a $500 invoice caused me to not bid $420 on a coin so it sold for $400. I figured I was bidding against another person who planned to win another coin so his invoice was over $500 so I dropped out.

Of the 13 lots I followed only one failed to sell, and I felt the high bid truly showed what the coin was worth in today's market. The most expensive coins all sold for well beyond what I feel they were worth. An 1807 50/00 Bust Half dollar in PCGS AU53 sold for $2,912 including the juice. Greysheet bid is $1,700 in AU, and $3,200 in MS. From Teletrades representative I was told the coin indeed had field marks, just like the pictures showed, so the coin appeared to be graded properly by PCGS. Just another white two hundred year old coin, not one with beautiful toning.

It looks to me like Teletrade had a great idea with that $100 credit.

dgreene56

I usually check out Teletrade but the $100 off coupon had me going over the lots with a fine toothed comb. Very smart marketing on their part. It did seem like a very high percentage of sell through for the 2 auctions. A lot of coins seemed to sell for strong prices but, as usual, there were some bargains to be found.
It was really challenging because you didn't know what you might win or get outbid on. So, there was some real strategy involved in trying to get to use the coupon without buying more than you really wanted to. I thought it was quite fun and I ended up with a nice PCGS Proof 65 Walker for just over $500 after using the coupon which seems like a pretty nice deal to me. I've been a Teletrade customer from day one and have been generally very satisfied with them over the years as both a buyer and consignor. They're not perfect and there are some irritating things about them, but they have fast shipping and excellent customer service and are very easy to do business with.

roadrunner

I did win my first lot in 2-3 years Sunday night. Since it was for several thousand dollars the $100 off was not exactly a windfall.
I got a fairly decent looking type coin at 8% over blue sheet bid.

I was high bidder on another lot too but got taken out in the last few minutes. This was the first auction in a long time where they had a lot of type coins that weren't the usual recycling junk. Don't know if they owned them all or whether they were consigned. Prices were still pretty strong. I was surprised to see 5 or 6 MS/PF 65/66 RD 2 cent pieces as well as 2 "Price" Barber Halves. The
1898-s in MS66 had been recycled from an earlier auction in 2006 where it fetched more. The original 1908-s half in 67 seemed like a not to bad deal at around $14,500 for a pop 2 coin.

roadrunner