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High Reserve Levels and Teletrade

Halfhunter06Halfhunter06 Posts: 1,332 ✭✭✭
in U.S. Coin Forum
Some coins dont seem to sell do to very high reserve levels...whats the logic? Sure people over pay for coins, but do they believe somebody else will make the same error?

Comments

  • ziggy29ziggy29 Posts: 18,668 ✭✭✭
    The sellers are apparently not terribly motivated to sell. In this market, mediocrity is cheap so expecting PQ money for mediocre coins is a sure way to not sell them.
  • Halfhunter06Halfhunter06 Posts: 1,332 ✭✭✭
    doesnt it cost the seller to list the item?
  • illini420illini420 Posts: 11,466 ✭✭✭✭✭
    I'm guessing lots of these high reserve coins are owned by Teletrade, so no, doesn't cost them anything.

    Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448

  • Halfhunter06Halfhunter06 Posts: 1,332 ✭✭✭
    ahhh good point!
  • PerryHallPerryHall Posts: 46,291 ✭✭✭✭✭


    << <i>I'm guessing lots of these high reserve coins are owned by Teletrade, so no, doesn't cost them anything. >>



    Yup. A retail price list disguised as an auction.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • MikeInFLMikeInFL Posts: 10,188 ✭✭✭✭


    << <i>

    << <i>I'm guessing lots of these high reserve coins are owned by Teletrade, so no, doesn't cost them anything. >>



    Yup. A retail price list disguised as an auction. >>



    Complete with fake bidding.
    Collector of Large Cents, US Type, and modern pocket change.
  • Halfhunter06Halfhunter06 Posts: 1,332 ✭✭✭
    thats the problem. With heritage you at least know the reserve.
  • golfer72golfer72 Posts: 3,588
    You see a lot of the same junk over and over on Teletrade. Must be house owned. They have been trying to get rid of an "MS-67" PCGS Maryland Commem for what seems like forever. PCGS should buy it just to get it off the market. If thats a 67 I am blind.
  • Halfhunter06Halfhunter06 Posts: 1,332 ✭✭✭
    How does teletrade buy coins?
  • diamondmandiamondman Posts: 2,020
    never mind
  • PerryHallPerryHall Posts: 46,291 ✭✭✭✭✭


    << <i>How does teletrade buy coins? >>



    Their parent company is a large coin company. I forget their name but someone here can post it soon.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • 291fifth291fifth Posts: 24,403 ✭✭✭✭✭
    The are just looking for a "live one."
    All glory is fleeting.
  • PerryHallPerryHall Posts: 46,291 ✭✭✭✭✭


    << <i>They are just looking for a "live one." >>



    Or more likely a dumb one.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭
    How do you know if a coin has a reserve on TT?
    Positive BST transactions: agentjim007, cohodk, CharlieC, Chrischampeon, DRG, 3 x delistamps, djdilliodon, gmherps13, jmski52, Meltdown, Mesquite, 2 x nibanny, themaster, 2 x segoja, Timbuk3, ve3rules, jom, Blackhawk, hchcoin, Relaxn, pitboss, blu62vette, Jfoot13, Jinx86, jfoot13,Ronb

    Successful Trades: Swampboy,
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Or more likely a dumb one. >>

    Throw enough dung against the wall enough times, and eventually a little of it might stick.
  • 123cents123cents Posts: 7,178 ✭✭✭


    << <i>How do you know if a coin has a reserve on TT? >>



    You don't know till the auction is over and then you can later see if the coin has sold.
    image
  • wondercoinwondercoin Posts: 16,974 ✭✭✭✭✭
    It's hardly fair to blame solely Teletrade for the high reserves. I often place reserves on Teletrade per the wishes of my consignors. In some cases, a consignor may have paid $1,000 for a coin and hopes to break close to even. Of course, it may take a few unsold experiences for him to realize that if he paid $1,000 for the coin, the dealer he bought it from may have only paid $800- $850 tops. On top of that, the new buyer needs to factor in his buyers' fee in the price the coin will sell for this time, which my consignor will never see. On top of that, the consignor will need to pay a small % to cover my effort in moving his coin (or deal with the same 10%-20% fees on ebay if he choses to sell the coin himself when it is all said or done). In the end, the consignor may have to come to grips with the idea that he may only net $800 (or less) on the sale of his coin. Often, this only comes with the consignor seeing, first hand, that his coin is unsaleable at $1,000 net to him.

    While the above is a very simple concept, I can tell you that it does result in many unsold reserved coins. Some collectors "get it" right out of the box, while others want there opportunity to try to do better before feeling comfortable with taking a meaningful loss on a coin.

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.

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