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Teletrade Experience
DRUNNER
Posts: 3,801 ✭✭✭✭✭
Some may remember my post a few months ago on trying a table on the bourse floor. This numismatic try was similar . . . and again for experience only. I researched well, knew what I was doiing, but wanted to see what this section of the market was really doing. I used no protection bids and actually only looked at the auction one time the night it went live. I committed the coins to the market (such as Teletrade is with its ups and downs) and let them go.
I culled about 15 slabs that had eye appeal but in general were widgets, knowing the advice given here that widgets would not sell particularly well. I also included one of my PCGS SAE toners . . . a mid-range one but certainly nowhere near my best. A few high grade Jeffs, some Kennedys in the 69-70 range in CAM & DCAM, a token (nice) 1881-S dollar in 64, one State Quarter error (broadstrike), and a few toned pieces. All-in-all . . . not expecting much but from going over auction histories, etc., I knew what to expect.
My impressions . . .
Two SAEs . . one killer, one fugly. Both PCGS toned. Killer was a 65 and went for $128. Fugly was a 67 and went for $13. Funny how an SAE can actually sell for a touch below melt . . . in a holder (yeah, why get them slabbed?!). I learned from this my killer main set of PCGS SAE toners should go for fairly good money . . . not the $50 each I've written about before. Good info from Teletrade.
Key date Jeffs even in PCGS 66 (38 D & S) go for $12-15. Wow . . . . . . I think PCGS had better re-think the Price Guide! (Yup . . I realize the Price Guide is what it is . . . I don't look at that for real values, but I can't understand why the bandwidth is used if it is just electrons floating in an electric current without purpose.)
Toning just doesn't look anything like "in-hand" in the Teletrade Pix. I had a superb PCGS 53 Jeff Proof in 67 that was an iridescent green-blue. It went for $24. On the bourse it sells for double that or more. But . . . in hand, v. the dark side of the moon Teletrade pix. I can't help but think that Teletrade could enhance their sales and the prices if they turned up the contrast on those pix.
Modern stuff is not well placed there. An NGC 1970-S Kennedy in 66 DCAM netted me $1 after the $5 fee. I will be searching Teletrade for $6 1970-S DCAMs as I should obviously be buying and not selling. Again not a superior grade, but the eye appeal of a DCAM in a better date Kennedy would have led me to believe I'd net more than a dollar.
I think Teletrade gives a great vierw of reality. I'm not quite ready to give them anything high-value, but until I do, I'd better stick to the bourse with the widgets. There are just too many common coins out there and Teletrade is a great place to pick a few of them up . . . just not a great place to score big on selling your widgets. It was fun . . . very professional, and organized perfectly. I had several emails with Irma and Ian, and they were super.
All-in-all . . . I still like just walking up to a few of the dealers I know best and showing them a box . . . . I seem to do the best that way . . .
Drunner
I culled about 15 slabs that had eye appeal but in general were widgets, knowing the advice given here that widgets would not sell particularly well. I also included one of my PCGS SAE toners . . . a mid-range one but certainly nowhere near my best. A few high grade Jeffs, some Kennedys in the 69-70 range in CAM & DCAM, a token (nice) 1881-S dollar in 64, one State Quarter error (broadstrike), and a few toned pieces. All-in-all . . . not expecting much but from going over auction histories, etc., I knew what to expect.
My impressions . . .
Two SAEs . . one killer, one fugly. Both PCGS toned. Killer was a 65 and went for $128. Fugly was a 67 and went for $13. Funny how an SAE can actually sell for a touch below melt . . . in a holder (yeah, why get them slabbed?!). I learned from this my killer main set of PCGS SAE toners should go for fairly good money . . . not the $50 each I've written about before. Good info from Teletrade.
Key date Jeffs even in PCGS 66 (38 D & S) go for $12-15. Wow . . . . . . I think PCGS had better re-think the Price Guide! (Yup . . I realize the Price Guide is what it is . . . I don't look at that for real values, but I can't understand why the bandwidth is used if it is just electrons floating in an electric current without purpose.)
Toning just doesn't look anything like "in-hand" in the Teletrade Pix. I had a superb PCGS 53 Jeff Proof in 67 that was an iridescent green-blue. It went for $24. On the bourse it sells for double that or more. But . . . in hand, v. the dark side of the moon Teletrade pix. I can't help but think that Teletrade could enhance their sales and the prices if they turned up the contrast on those pix.
Modern stuff is not well placed there. An NGC 1970-S Kennedy in 66 DCAM netted me $1 after the $5 fee. I will be searching Teletrade for $6 1970-S DCAMs as I should obviously be buying and not selling. Again not a superior grade, but the eye appeal of a DCAM in a better date Kennedy would have led me to believe I'd net more than a dollar.
I think Teletrade gives a great vierw of reality. I'm not quite ready to give them anything high-value, but until I do, I'd better stick to the bourse with the widgets. There are just too many common coins out there and Teletrade is a great place to pick a few of them up . . . just not a great place to score big on selling your widgets. It was fun . . . very professional, and organized perfectly. I had several emails with Irma and Ian, and they were super.
All-in-all . . . I still like just walking up to a few of the dealers I know best and showing them a box . . . . I seem to do the best that way . . .
Drunner
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Comments
<< <i>Modern stuff is not well placed there. An NGC 1970-S Kennedy in 66 DCAM netted me $1 after the $5 fee. I will be searching Teletrade for $6 1970-S DCAMs as I should obviously be buying and not selling. >>
Be careful buying, with fees and shipping that $6 coin will cost you $19 ($8 minimum buyers fee, $5 minimum shipping). Buy at $19 sell for $1? The $8 is per lot, so perhaps one of the group lots with five or more coins might work out, otherwise, the minimum is $14, which is probably more than many of those coins are worth, especially NGC coins.
<< <i>
<< <i>Modern stuff is not well placed there. An NGC 1970-S Kennedy in 66 DCAM netted me $1 after the $5 fee. I will be searching Teletrade for $6 1970-S DCAMs as I should obviously be buying and not selling. >>
Be careful buying, with fees and shipping that $6 coin will cost you $19 ($8 minimum buyers fee, $5 minimum shipping). Buy at $19 sell for $1? The $8 is per lot, so perhaps one of the group lots with five or more coins might work out, otherwise, the minimum is $14, which is probably more than many of those coins are worth, especially NGC coins. >>
Which is likely why some of the items may not have sold for what was expected...people already figuring in the extra fees and using that as a guide.
Maybe not the reason for all though.....
I would like to see a link to the toned SAE.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
http://www.teletrade.com/coins/lot.asp?auction=2423&lot=1754
Auction 2423, Lot 1754.
Drunner
Interesting look. Did you buy already slabbed or slab it yourself? Did you do a whole set toned?
I thought about it but saw some of the prices realized and decided not to (too much and also hard to find a lot of nicely toned ones).
Thanks for posting about it though...been wondering how a couple of mine would do and was told by someone that they would like do $100-$150+. Looks like the range yours is in (couple of mine are MS68).
One thing I do like is how you are willing to give things a try that interest you (taking a table on the bourse, doing the TT bit). Very cool!
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment