Just when you start to think ebay is a waste of time...

tradedollarnut · May 30, 2014 7:43AM

....you run across an auction like this with a low buy it now price

LanceNewmanOCC · May 30, 2014 7:45AM

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SoCalBigMark · May 30, 2014 7:45AM

Did it show up yet?

JustMe2 · May 30, 2014 8:04AM

Are you going to send it back if it has that CC stuff on the back?

tradedollarnut · May 30, 2014 8:37AM

<< Did it show up yet? >>

Yes. It's as nice as the picture. Reverse on its own is MS64 CM. Obverse 63CM, shot 64.

Estimated value: $2,000

braddick · May 30, 2014 8:43AM

Congratulations.
Killer score.

I'm jealous!

crypto79 · May 30, 2014 8:44AM

True UNC luster is so very rare for the issue, congrats

Connecticoin · May 30, 2014 8:48AM

<< 

<< Did it show up yet? >>

Yes. It's as nice as the picture. Reverse on its own is MS64 CM. Obverse 63CM, shot 64.

Estimated value: $2,000 >>

You suck!

coindeuce · May 30, 2014 8:50AM

Many of us have had the good fortune to time a scan of the new listings and find a needle gleaming in the haystack before it gets scrutinized by anyone else. You just had the luck of only having that one exposed for all of about 53 minutes in the late afternoon of a weekday.
I'll bet you only did a half blink before you hit the BIN button.

stealer · May 30, 2014 8:50AM

Holy crap, I can't believe I missed that one! Congrats

lcoopie · May 30, 2014 8:52AM

Oh my god!!

Wabbit2313 · May 30, 2014 8:58AM

Sweet!

renman95 · May 30, 2014 9:21AM

<< Are you going to send it back if it has that CC stuff on the back? >>

Nice score TDN.

///

Yet, I remember a few years ago winning a $50 platinum unc which was listed as a $25. I got pounced on and pressured to relinquish because the seller was one of our "own."

AUandAG · May 30, 2014 9:21AM

Awesome pick, I second that YOU SUCK.

bob

Wabbit2313 · May 30, 2014 9:30AM

<< [Yet, I remember a few years ago winning a $50 platinum unc which was listed as a $25. I got pounced on and pressured to relinquish because the seller was one of our "own." >>

Yes I agree. I didn't know what I was doing. Please send it back to me.

renman95 · May 30, 2014 9:33AM

<< 

<< [Yet, I remember a few years ago winning a $50 platinum unc which was listed as a $25. I got pounced on and pressured to relinquish because the seller was one of our "own." >>

Yes I agree. I didn't know what I was doing. Please send it back to me. >>

I did. Where's my money?

TwoSides2aCoin · May 30, 2014 10:50AM

$2.32 shipping.

BLOCK THAT SELLER.

( Just kidding folks. Please don't harass the seller or me. I'm just having fun with one gentle giant. )

coinsarefun · May 30, 2014 11:12AM

awesome.

sparky64 · May 30, 2014 11:17AM

Nice pickup.

Lakesammman · May 30, 2014 11:35AM

With the twins, I was expecting a BIN at 3 AM PST.

coinhack · May 30, 2014 2:52PM

And this is a good thing, how?

I guess it is. We all like to buy coins under their value. But I seem to remember a few days ago the rants against those who bid on silver eagles for $5 and $10 each. Those who bid on them and those who thought it was o.k. to bid on them were labeled as unethical scammers. This is a little different. In that case a multi-million dollar corporation was losing a few dollars because they listed them for less than their true value. In this case some guy who is trying to make a few bucks selling $20 and $30 Morgan and Peace dollars and a Trade Dollar that he mislabeled as an 1877-S, when in fact it was a much rarer 1877-CC. Stupidity on the seller's fault for which he paid a $2,000 price (your estimate). Then again, he may not have anticipated running into someone who may know more about Trade Dollars than any one else on the planet. On second thought, I guess the guy got what he deserved. And apparently you ripped him a good one. Nothing wrong with that. Keep on rippin' I say.

Many rants against brick and mortar shops too. How they rip the unsuspecting for a living. A particular rant comes to mind. Someone proposed to a B&M (here on the board), "So, what would you do if someone came into your shop and laid down a $2,000 gold coin and said, 'I want $500 for it', would you just take it?" I guess they thought the worst, most dishonorable thing the dealer could do would be to accept someone's foolish offer when they simply know more than the seller. But I guess you are a partner in a coin company aren't you? And you are very knowledgeable about the Trade Dollars. But I still think what you did was o.k.

No one on this board has been more misaligned for his posts about coin purchases than keets. I've seen him practically lynched for nothing more than telling some interesting stories and sharing some fabulous coins. But, I can only image the flack he would get if he had a similar rip. Even if it was just an eBay rip identical to this one. He just doesn't have the same adoring fans I guess.

If this is all good, and I guess it is from all I've read in the other posts, then I just want to apologize to all the B&M's who have been slammed for buying low and selling high. I have never posted anything about you, but I do believe you deserve an apology.

And keets, I want to apologize to you also. Although I have never posted anything about you and I have always enjoyed reading your stories, you have my apology on behalf of all those who did post and who assumed evil intent in everything you shared. And don't stop with the posts. I, for one, look forward to reading them.

But most of all I want to apologize to TDN. If anything I have written sounds like a criticism, it wasn't meant to be. I am sure most of us would have done the same, at least all those fawning in deepest admiration in the preceding posts. In any case, I believe you will appreciate the coin or the money more than the seller would have. You sound like a great business man and if you keep this up, you may be rich some day.

So, best wishes and as Connecticoin said in an earlier post-

You Suck!

lostincoins · May 30, 2014 3:33PM

Thats a nice pic TDN.

Elcontador · May 30, 2014 4:36PM

This is an ethical matter. How comfortable are you taking advantage of someone who makes an honest mistake, or is not as bright as you are? One could argue if someone makes a living selling coins, he / she show know his / her product. The one instance where I saw someone clearly mis-price a coin (a 24 S Buff was priced as a 24 P for the particular grade), I quietly informed him of his oversight and then went on my way, but I don't think too many others think like that.

OTOH, if a dealer I genuinely dislike made such a mistake (there are a handful of them), I would gladly take advantage of this error.

3keepSECRETif2rDEAD · May 30, 2014 5:28PM

Nice Hit TDN...I also noticed that somebody sucked up his 22s Peace for $35... Looked like a 63+ maybe a 64. That's part of the Game though, as all is fair in love and war

Erik

lostincoins · May 30, 2014 5:34PM

If you look at current listings and completed you will see about 5+ listing errors, oh well it is what it is and the big fish eat the smaller as it has always been.

yosclimber · May 30, 2014 6:54PM

<< some guy who is trying to make a few bucks selling $20 and $30 Morgan and Peace dollars >>

Did you click on the completed listings and see the 7 slabbed $20s which sold for $1300+ each?
http://www.ebay.com/sch/craigstbay/m.html?item=291156447924&nma=true&orig_cvip=true&ssPageName=STRK%3AMEWNX%3AIT&si=ADcj7uRBW6fSTnuEHqt%252BEKzjpCo%253D&LH_Complete=1&rt=nc
He received plenty of $$ for the collection.

My guess is that this guy is selling his dad's collection/estate,
thought all the valuable coins were in the slabs,
and didn't think a raw trade dollar with punch marks was worth his time to be careful with.
It does have an S under the eagle (above the CC, part of "GRAINS").
His dad didn't even have it in a 2x2, so probably didn't know the value, either.

The good thing is that now these coins are in the hands of people who want them.
And the dream of finding a diamond in the rough is alive.

DollarAfterDollar · May 30, 2014 9:38PM

Seems like the kind of thing a Dealer should keep quiet about. It's one thing to use your knowledge in a situation where you capitalize big time by taking advantage of a novice but..........speaks volumes about the odds of a little old lady coming into your store and getting a fair deal.

The right thing to do is give it back and educate the person. THATS an honest Dealer.

TF · May 30, 2014 9:53PM

<< Seems like the kind of thing a Dealer should keep quiet about. It's one thing to use your knowledge in a situation where you capitalize big time by taking advantage of a novice but..........speaks volumes about the odds of a little old lady coming into your store and getting a fair deal.

The right thing to do is give it back and educate the person. THATS an honest Dealer. >>

crypto79 · May 30, 2014 11:32PM

To be fair the high valuation is predicated on it grading 63chop at PCGS which is no sure thing esp with that chop by lib's head. For example if it comes back UNC details it is about $6-800 and AU details maybe $4-500ish. While 50$ is a little low as an ask, raw chop mark trade dollars really don't have a two way market. Even I, who knows a lot of people around the series, probably couldn't get a cash offer above $200 at any given show. Graded they are still hard sells with limited retail outlets. The spreads on these things are huge as as most dealers don't know or care. When they want one they buy a cheap common date or a 74-75cc.

The value there is in knowing the good form the bad, getting it into PCGS plastic and putting into a collection or auction directly. There is quite a bit of effort to maxamize the value of that coin and the basal value is actually quite low in its current state.

Cougar1978 · May 31, 2014 12:16AM

There seems to be a double standard in here regarding coin deals where one party has come way out ahead. If a dealer makes a cool $10k on flipping a coin (slabbed to boot) in a sight seen transaction he is bombarded as a crook or jerk. If a supposed non dealer gets a really good pickup from a seller (online or show - does not matter) he can come in here and brag about it and get cudos and the little grade school "u suck" comments. Oh and I just love the posts "did it come in." Heaven forbid the seller would realize the rip at the last minute before shipping and keep it avoiding the give away.

These transactions are what they are. The fact is the person who has knowledge has an edge in Numismatics. The person who is careless in managing his inventory or ignorant may give away a coin. The coin business is filled with lots of competition. At many shows the people walking in the door with money who are strong buyers may be rarer than the coins themselves.

One piece of advice is be carefully in managing your online pricing, listings or showing coins at a show. Avoid putting more coins out from your display case at a show for someone to look through than you can manage. Do not let someone reach in your case and grab a handfull of coins to look thru. Be especially carefull if your in a situation where your showing coins to someone and the info is upside down from your point of view (right side up from theirs). There are many who will try to rip you even in this situation. If you do make a sale then realize you have been ripped and can keep it from being concluded, do so. You don't owe that buyer anything.

Broadstruck · May 31, 2014 12:55AM

So if TDN financially backs a Bakery would it automatically make him a Baker

I'm sure this was bought with his collector hat on as I doubt this will be resold.

tradedollarnut · May 31, 2014 12:56AM

I see all the alts have come to visit.

TwoSides2aCoin · May 31, 2014 1:03AM

<< I see all the alts have come to visit.

>>

cmon boss. You know how jealousy rears it's ugly head. Those types always see "bad" in what is decent and good about this place and our hobby, in general.

Those detractors are in the multitudes the world over , in every field.

tradedollarnut · May 31, 2014 1:08AM

<< So if TDN financially backs a Bakery would it automatically make him a Baker

I'm sure this was bought with his collector hat on as I doubt this will be resold. >>

Exactly. Right into my chopmark collection. And you are spot on about the baker part. That would make anyone who owns CLCT stock a coin dealer.

DDR · May 31, 2014 1:08AM

Well done, Bruce. I'm jealous!

PQueue · May 31, 2014 1:13AM

Page 1 had me thinking this is the best ebay thread I can recall...

by page 2, it was back to normal for this place.

LanceNewmanOCC · May 31, 2014 1:37AM

<< Page 1 had me thinking this is the best ebay thread I can recall...

by page 2, it was back to normal for this place.

>>

how would it affect your analysis if i told you this is all still page 1 for me.

.

Cougar1978 · May 31, 2014 1:48AM

Whether collector hat or dealer hat makes no difference. It is what it is lol.

I like the comment by Elcontador

TwoSides2aCoin · May 31, 2014 2:05AM

<< 

<< Page 1 had me thinking this is the best ebay thread I can recall...

by page 2, it was back to normal for this place.

>>

how would it affect your analysis if i told you this is all still page 1 for me.

. >>

I like that thinking….
reminds me of the ancient scrolls.

MGLICKER · May 31, 2014 2:14AM

<< I see all the alts have come to visit.

>>

But no longer the robotic ones.

Good hit TDN.

Wabbit2313 · May 31, 2014 2:25AM

If a little old lady walks into a shop with that coin and asks what it's worth, and you tell her 50 bucks, you are a crook. I agree with that.

If someone lists that coin on eBay, for the whole world to buy at 50 bucks, he is just plain stupid. I agree with that.

Edited to add: It's time for this "you suck" nonsense to finally go away, it is stupid. I agree with that.

MGLICKER · May 31, 2014 2:30AM

jayPem · May 31, 2014 2:42AM

Those who are still up in arms about TDN ripping a " $2000 " coin for 50 bucks....please re-read Cryptos comments.

Spokaneman · May 31, 2014 2:49AM

Very nice pickup!

MGLICKER · May 31, 2014 2:50AM

<< Those who are still up in arms about TDN ripping a " $2000 " coin for 50 bucks....please re-read Cryptos comments. >>

The $2000 number came from TDN.

Seemed high to me with the choppies, but TDN has a much better view of that market than I do.

crypto79 · May 31, 2014 3:08AM

<< 

<< Those who are still up in arms about TDN ripping a " $2000 " coin for 50 bucks....please re-read Cryptos comments. >>

The $2000 number came from TDN.

Seemed high to me with the choppies, but TDN has a much better view of that market than I do. >>

If it grades that is a fair range and while TDN Has a great eye it is still a big if. Chops are graded somewhat inconsistently to put it mildly.

TwoSides2aCoin · May 31, 2014 3:12AM

The reality is TDN paid $48 and change too much for it. It's just a dollar and if you don't collect you don't care.
What'd he really get ? $.28 in Ebay bucks ?

Total sarcasm intended and everyone who knows me knows I mean no harm.
For collectors: This is WHAT WE DO and this is WHAT we celebrate and give KUDOS for. It's a great score for a great collector.
God knows he's paid multi million dollars for a nickel. I am for the winners who have no problem teaching their own way !

Whoever brought up "keets" in this thread, earlier…
Keets is a better teacher than most of us. He endures just as much "flack" for bringing the "story".
So did Boom ( I felt he was unfairly treated here) So did Ken (ksteelheader). Walmann, YaHa…. RWB, etc., A lot of those people (girls included) many are no longer here….
And the real teachers are thinning out here.

Let's remember the person selling did NOT do his due diligence. There is a passage that says : "The diligent hand shall prosper".
Numismatically this can be translated to mean : …. So shall the sharp eye and smart collector.

Who would begrudge this ? Honestly ? Ask yourself. Don't hold the candle to the people here sharing.

THIS is 'our" passion.

mbogoman · May 31, 2014 3:38AM

This whole thing reminds me of my greatest pick and some of the comments that followed it. It was an 1879 CC Morgan, raw, but despite the seller's poor pics, it looked like it might have some MS luster. The listing was already 3 days old when I finally came across it, starting bid at $249 with a Buy it Now at $300. I was initially skeptical because the listing was so old - some expert should have snagged it by now if it was real was my thinking. I did hours of research, making sure the dies were correct and date/mintmark positions were correct. I bit the bullet. The coin arrived and it was definitely MS, but certainly a lower grade. It graded at MS61 from our host and I was a very happy camper (still am!).

If someone comes to you and asks what something is worth, and you lie - that is unethical. If that same someone doesn't take the time to learn about the true value of his/her item, slaps a price on it that the whole world has an opportunity to purchase it for and sells it for less than true value - that is his/her problem.

I suspect that a lot of the whiner/complainer types are just envious and jealous that they didn't find it first. I am certainly envious of TDNs score, but also inspired it. It gives me all the more reason to continue spending the hours poring over listings that I do.

Great pick, TDN!

keets · May 31, 2014 3:38AM

If a little old lady walks into a shop with that coin and asks what it's worth, and you tell her 50 bucks, you are a crook. I agree with that.
If someone lists that coin on eBay, for the whole world to buy at 50 bucks, he is just plain stupid. I agree with that.

man, we can have fun with that.

lostincoins · May 31, 2014 3:43AM

A good pic is a good pic The guy did not know that that mint mark changed the value. We all pay tuition when starting out and many of us have spent more than 2000.00 over our life time for our knowledge. This situation for the seller is a good way for him to learn about coins and I hope it inspires him and he gets into the hobby as he is just selling the coins off for someone.

Just when you start to think ebay is a waste of time...

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