Anyone deal with Steve Teitelbaum?

BIGAL2749

I'm reluctant to send him a 100K coin to have upgraded.

Please PM if you'd want to avoid public forum.

ColonelJessup

I don't know him, but that's not the point.
Why do you need an intermediary to submit a coin of that value? Or any one specific person to do so?
Who does he give as references?

You biggest issue should not be the integrity of the submitter, but insurance coverage.

Due diligence at the $100K level is not performed with chat-room references.

BIGAL2749

I have to agree with all your points

I had dismissed the entire proposal from his first phone call but received an email from him today and even though I'd
never consider going forward but wanted to see how members would reacted to such.

I'm always surprised how salesmen never take no for an answer

FredWeinberg

Are you talking about the S.A.
in the Los Angeles area???

jdimmick

Big al,
Honestly, I would probably make arrangements to go to one of the shows where the Grading services attend, even if only to drop of the coin, and head back out if your a busy man.

I don't know steve at all, but If I had to ask this question to myself or on here, I probably would not do it.
I know a couple of dealers that I would trust 100% with out question. And several I would not

roadrunner

Regardless of trust issues or recommendations, you can never truly know the financial status of a new (to you) dealer you decide to work with. What if they decide after the fact that they are "entitled" to X% of the upgrade proceeds because they submitted it? Or decide to hold your coin/funds if sold? Been there, done that, for both situations. Did this dealer solicit you for the coin to be upgraded? How can they be sure? I'd be much more leery of dealers soliciting me "to help out."

BIGAL2749

Guys, I posted this discussion more for amusement and there was never a chance of doing anything with this guy.

I've had a half-disme, Colorado Mountain $10, and 1796 half sent to me on approval by well know dealers that I do know and have no need for this guy.

Unfortunately the last dealer that I sent over 100K for consignment is no longer in business since he has taken the position of president of PCGS

I've been informed of an interesting site that monitors compliants and guess who pops up?
I knew dirt was to be found

BIGAL2749

@roadrunner said:
Regardless of trust issues or recommendations, you can never truly know the financial status of a new (to you) dealer you decide to work with. What if they decide after the fact that they are "entitled" to X% of the upgrade proceeds because they submitted it? Or decide to hold your coin/funds if sold? Been there, done that, for both situations. Did this dealer solicit you for the coin to be upgraded? How can they be sure? I'd be much more leery of dealers soliciting me "to help out."

He solicited me on enough occasions to know not to deal with him (knew that first time anyways).
Just amazing how this type just won't take no for an answer

roadrunner

@BIGAL2749 said:

I've been informed of an interesting site that monitors compliants and guess who pops up?
I knew dirt was to be found

Isn't being "compliant" a good thing.

Fwiw, I recall a situation for auction consignment where the dealer was all but guaranteeing me they could upgrade my coin and get $XXXXX dollars. While I knew that was not a true guarantee, I went with them since they were the best option. The coin didn't upgrade and/or cross, and frankly, I don't know if they even submitted it. I was still very happy with the net outcome but the upgrade carrot that was originally dangled didn't taste all that good.