Heritage "Buy Now" items

rhedden

I was wondering if anyone here would like to share their experiences with coins purchased through the Heritage website using the "Buy Now" feature. Has anyone here got a great deal (a.k.a. "rip") on a coin? I know there are some deals in the auctions, of course, but I am primarily asking about coins marked "Buy Now." Many of them are auction leftovers that have limited eye-appeal and didn't meet reserve. Other coins are really nice, but the asking price is just way too much. Has anyone grabbed a scarce/rare variety that was overlooked, or scored a major upgrade on a coin purchased this way? Any good or bad experiences to share? I personally have bought 4 items this way- one was underpriced, one was priced fairly, one was priced too high but was a nice coin, and the last was overgraded and overpriced.

RYK

Many of them are auction leftovers that have limited eye-appeal and didn't meet reserve. Other coins are really nice, but the asking price is just way too much.

I think you have done a good job answering your own question. I purchased one coin ("post auction bargain" aka auction leftover), was burned when the photograph did not depict a large defect, and I will never buy from them this way again.

Heywood

There have been a few items that didn't meet reserve that I had been watching to see if they every get to the "make an offer" stage.

Recently I have not been happy with the omissions form the descriptions as RYK had mentioned.

Also from a recent currency purchase a note arrived with a corner folded (abount an inch! and Two notes in one sleeve!)

TypeCollector

I used it a couple of times with pretty good success. Prices were probably on the upper edges of acceptable, but I was pleased with the coins. One was a "make an offer" listing. It took them 2-3 days to reply, but once they accepted, the order was shipped right away. I agree that some of the "buy now" listings are unsold leftovers lacking in eye appeal for some reason or another, but others are nice. Prices never seem to be low, though .

Barndog

I found an 1830 bust half dime in a Heritage Buy Now sale that was NGC AU-53. When I zoomed in, I attributed the coin as the 1830 LM-11/V-14, a former R-7 (now R-6) die marriage! I was 95% sure of the attribution from the photos and would have to order the coin to be 100% sure, but hey, it was a great buy at only $277 (including Texas sales tax and shipping). When the coin arrived, I confirmed my initial attribution as 1830 LM-11/V-14. On the latest JRCS survey, this coin represents the second finest example for this die marriage. I was fortunate to work out a mutually-beneficial trade with another collector who now owns this coin. So yes, searching through the Buy Now items that Heritage offers can be worth the time and effort.

beartracks42

I watch auctions for coins that look like what I am after, and if they do not meet the reserve, I check the buy now feature. Usually Heritage jacks the prices to the top or beyond what I feel is acceptable. But, I keep looking.

mhammerman

I had an experience where there was a Heritage coin that had not sold at auction and was listed in their post auction buys. I called Heritage about the coin and they asked me how much I would offer for the coin...I told them, they called "the owner" and the offer was accepted. I would suggest that if there is a coin with Heritage that didn't sell...give them a call and talk about it. The sales staff there have always been very businesslike, polite, and cordial with me so there is no reason to not call.

ad4400

I made an offer on a shield w/ray nickel in AU58 not too long ago. The strike was remarkable for the series but thought it lacked the luster for a 58, so offered their minimum price. I didn't win and for a while I thought they hadn't even acknowledged by bid, until I figured out their response got caught up in my Spam folder. I have mixed feelings for letting the coin pass. While I have aspirations of adding a coin with luster to my type set, I haven't seen anything even close strike-wise for that price or otherwise.

rhedden

I attributed the coin as the 1830 LM-11/V-14, a former R-7 (now R-6) die marriage

Barndog- that's quite a score. I really didn't think anyone was going to have a story like that when I posted this thread. It's amazing to think that your 1830 very likely made it through a live auction, and nobody noticed the variety.

Barndog

Rhedden, here's the other part of the story: I do not believe that the 1830 LM-11/V-14 had been in an auction! I don't know why it was posted or where it came from, but one day, it just showed up. Heritage auctions are well-checked by bust half dime enthusiasts, myself included. One day I noticed that the Heritage "count" on bust half dimes was 17 (or whatever it was) in the morning. I checked later in the day and saw that it was 18, so I figured I might as well see what number 18 was. I figured I had five minutes to make the decision on the attribution before someone else did and am glad I was the first (and only) one to see it. I truly believe that the coin was not up for auction prior to being placed into "Buy Now" status. I would have seen it (I'd like to think that) or one of a number of other astute bust half dime specialists would have seen it for sure. I think coins like this can slip by unnoticed on other auction sites (like ebay or Teletrade, for example), but something in me tells me that such a coin would be very difficult to slip by specialists on the 800 pound gorilla site.

rhedden

It's still amazing that someone sent the coin to NGC, which means a dealer probably owned it at some point, and nobody bothered with attribution. R-6+ half dimes are only supposed to show up in old collections and in the hands of clueless pawn shop owners.

Barndog

R-5 to R-7 (and the former R-8) bust half dimes have all shown up on ebay too!

mdwoods

I've gotten a couple good deals on toned Franklins. Their photos didn't do the coin justice. Coinaddict now has one of the Franklins, maybe he will post a picture of it.

Elcontador

I picked up a PF 38 Merc in NGC 5 to avoid paying $75 in CA sales tax on another purchase (ie., this dime put my purchase over $1,000, so it was then excluded from CA sales tax). The coin had some minor spotting, but was acceptable for the grade (figure between a 4 & 6 on a scale of 1 to 10).

I would not have bought the coin is sales tax was an issue, but when I bought it, I knew that whatever I sold it for, I still would have been better off than if I paid the sales tax on the other purchase.

Artist

To your 'Auction Leftover' scenario, I would also add that sometimes they put Type Coins, (i.e. 1900 date, 1st year of series, VDBs, or Type I SLQs, Bufs, No Motto Gold, etc.)

...AND since those types of coins are what I collect, I have bought a few 'Buy It Now' pieces from Heritage, and mostly I am VERY HAPPY with them.

1900 Liberty Nickel / NGC-MS63 - PQ Heritage Select - paid maybe 10% over ask - coin is correctly graded, however it is THE ONLY 1900 Liberty in ANY GRADE I have encountered with fully struck reverse, and since I collect for the designs, I am VERY HAPPY to own it because the design is all there.

1900 Barber Quarter / NGC-MS63 - PQ Heritage Select - probably paid ask for this coin - it is an okay coin - technically probably a former 65 before the blast white craze hit if you know what I mean. The longer I own this coin, the less I like it, and I will probably 'upgrade' into an original-skinned 61 or 62 whenever one comes along.

1917 Type I SLQ / PCGS-MS62 FH - paid closer to 63 money than 61, but this is a VERY nice coin. Original, lusterous, and super-sharply stuck, I have seen worse in 64 holders. The ONLY limiting feature I can find on this coin, is a shallow, microscopic tick that runs across the bottom third of Ms. Liberty's exposed breast. In addition, there is a neat die crack that runs along the Eagle's breast.

1907 Mo Motto Indian $10 / NGC-MS61 - Make Offer - paid less than MS60 ask for this coin, and I think it is my biggest Heritage Buy It Now score. The coin has a better than average strike for a 1907, and best of all, it does NOT have the requisite distracting mark (big cheek hit, or eagle scratch, etc.) that all 61s seem to have - just a subtle, even, smattering of tiny contact marks in the fields. If I ever decide to sell this coin, I will definately try for an upgrade, and double my money if comes back 62 at today's prices.

rhedden

I still would have been better off than if I paid the sales tax on the other purchase.

I've done this a few times, and only once did I make out OK on the coin that put me over $1,000. In one case, I ended up eating $160 to save myself $50 in MD sales tax... real smart.

Coxe

<< <i>I still would have been better off than if I paid the sales tax on the other purchase.

I've done this a few times, and only once did I make out OK on the coin that put me over $1,000. In one case, I ended up eating $160 to save myself $50 in MD sales tax... real smart. >>



I have done that routinely with the after auction buys. The only downside I have realized is a couple segues into areas outside my promary focus. I tend o still be very value selective in those coin choices.

As for outright inventory buys, I have cherrypicked a number here and there but I have to admit the retail prices practically undo the variety premiums usually.

Shamika

Five years ago I picked of a coin from one of their auctions that I thought was priced VERY well. Three months later I consigned the very same coin to one of Heritage's auctions and doubled my money. However, you basicly get what you pay for. Rips on Heritage are rare.

rhedden

the retail prices practically undo the variety premiums usually.


The same situation exists for early type coins on ebay. You can cherry pick a rare variety that is worth 2-3x the price of a common date, but the overgrading, cleaning, and overpricing are so rampant that you'll probably lose money anyway.

mirabela

I bought my Isabella that way, and I think I did OK. The price was perhaps $40 above what you'd ordinarily expect for an XF coin, but the eye appeal of the piece is particularly good. I thought it was well worth the premium. In general, though, I have to concur with your assessment, and I rarely look at those offerings at all.

coinut1799

Occasionally good deals are available in "Buy it Now". I bought two nice colonials that did not sell at Long Beach, but I saw the coins before the auction. Simply, and I know this has been said so many times, don't buy any expensive coins unless you have either first seen the coin personally, or had a trusted dealer look at it for you.

roadrunner

I've only done this once and on a coin I had gotten outbid on a year earlier. It was an 1874-s quarter in an old PCGS 66 holder. It went for strong money and I was outbid. I felt the coin was a legit 67 shot and graded it 66++ at the sale. Low and behold it ended up in Heritage's inventory a few months later as NGC67. They or someone else had flagged the upgrade. It languished in inventory being offered for a 30-40% profit. It finally came around to the same FUN auction a year later and was put up to unload it. It didn't meet the owner's reserve. Knowing the coin and what the owner had paid a year earlier, I tossed in a fair profit and got the coin on 2nd chance offer. Regardless of the odd history, I still love the look of this orig coin and the smooth olive grey surfaces.

Curiously, as soon as I bought the coin, the sight unseen bid on the blue sheet was dropped from $14K down the price I paid. It seemed the "high bidder" (ie owner) dropped their "bid." No matter, I liked the coin before it dropped $3K in "value on paper" overnight.
Gotta love it though. And that $14K was the orig ask price on the piece (lol)

roadrunner

chabot510

i picked up a 64 bustie as a post auction buy. one of the prettiest coins i have ever seen. it was a no brainer 4, and accordingly crossed at pcgs. i made a nice bit off of that beauty.

BigAl

I've done it before, but did not pay the Buy-It-Now price. Instead I sent them an email and stated I would be interested at $X. Never been turned down.

Last time i did that was for a very nice circ 1895-S Morgan in an ANACS slab. Coin looked very nice, original and appropriately graded. I made them an offer that was approx. 5% off and they agreed. I cracked the coin and submitted to PCGS, coin came back w/ the same grade.