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Numismatic etiquette regarding coin sales.

Insider2Insider2 Posts: 14,452 ✭✭✭✭✭
edited July 30, 2017 6:18PM in U.S. Coin Forum

What do you think?

I see a coin on Ebay slabbed by a TPGS that I'm interested in. I link to the auction which is still open for several days and ask CU members if they think the coin is a good buy, do they see any problems, and is it graded correctly.

Is it in good conscience to reply with your opinion or does numismatic etiquette require that you say nothing until the auction is over?
It appears that I have been raised by wolves as I seem to be on the wrong side of this question. :(

  1. Yes, Ok to comment.
  2. No, keep quiet until the auction is ended.
  3. No opinion or who cares.

and 4. Snipe bid the coin for yourself.

Numismatic etiquette regarding coin sales.

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  • Options
    Insider2Insider2 Posts: 14,452 ✭✭✭✭✭

    and...when a member does a poll, will more respond if their ID is not public?

  • Options
    BruceSBruceS Posts: 1,350 ✭✭✭✭✭
    edited July 30, 2017 6:29PM
    No opinion/who cares.

    If I'm buying, sure tell me every flaw.
    If it's my consignment, wait until its sold.

    Obviously tongue in cheek.

    I see people post about certain dealers on eBay all the time, "They're at it again"
    "Gassing in slabs". So why is it different for an auction house? The coin should speak for itself in most cases. And some time We needs a little help with a high dollar purchase.


    eBay ID-bruceshort978
    Successful BST:here and ATS, bumanchu, wdrob, hashtag, KeeNoooo, mikej61, Yonico, Meltdown, BAJJERFAN, Excaliber, lordmarcovan, cucamongacoin, robkool, bradyc, tonedcointrader, mumu, Windycity, astrotrain, tizofthe, overdate, rwyarmch, mkman123, Timbuk3,GBurger717, airplanenut, coinkid855 ,illini420, michaeldixon, Weiss, Morpheus, Deepcoin, Collectorcoins, AUandAG, D.Schwager.
  • Options
    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    edited July 30, 2017 6:33PM
    Yes, OK to comment.

    What difference does it make when the auction closes? The coin might not reach reserve or get returned. How long does the "official gag order" last? For that matter, even if it sells, the comments could serve to lessen or increase the value of the coin for the current owner as long as they own it....usually the former. With that logic, NO coins should ever be commented on via the forum because it "could potentially" financially "damage" the current owner when they eventually decide to sell.

    Personally, if you can't take the heat or criticisms, you shouldn't be buying/selling coins in the first place. It is however in very bad form to openly bad mouth a coin....only to try and reduce the amount of competitors so you can buy it cheaper. Pretty much every trick and shenanigans under the sun have been tried...and will continue to be performed on the uninitiated. If you're overly concerned about "ethics" in the coin game (not that it's a bad thing)....odds favor that you're the one on the receiving end more often than not.

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Options
    ZoinsZoins Posts: 33,863 ✭✭✭✭✭
    edited July 30, 2017 6:27PM

    @Insider2 said:
    and...when a member does a poll, will more respond if their ID is not public?

    Probably depends on the poll. I imagine a public poll might get better answers.

  • Options
    djmdjm Posts: 1,558 ✭✭✭✭✭

    Honestly how is this any different than the upcoming mint product release threads. All they do is alert flippers that a new issue is coming out. The flippers buy up all of the coins and leave nothing for the collector. I feel these threads are more of a disservice to the board members than a service. if the flippers can't keep track of the releases too bad.

    It's a free country and people can say what ever they want within limits.

  • Options
    BillDugan1959BillDugan1959 Posts: 3,821 ✭✭✭✭✭
    No opinion/who cares.

    If you need reinforcement from other people (I.e., if you don't know what to do yourself), you shouldn’t be bidding. You can't spend the same money twice, and formerly well-off and now poor-ish coin collectors are legion.

    If you don't know what to do (deep down in your own gut) within about 20 seconds of seeing a coin, then the coin is unlikely to appeal to you more later on, should you acquire it. If the money is at your budget limit, some hesistation might be understandable; otherwise, you are the person who has to live with the coin. Why do you need to bring it to a public forum?

  • Options
    gtstanggtstang Posts: 1,692 ✭✭✭✭✭

    It's bad judgement on the op to post a link if it's a coin they are personally interested in.
    A better solution is to copy the auction pic and crop as needed to eliminate grade and service, then post asking opinions.

  • Options
    tdiaz1979tdiaz1979 Posts: 75 ✭✭✭
    Yes, OK to comment.

    I think forums like this are important for the new people coming into coin collecting. Yes I have taken the advise of forum members and I am reading books on coins, but this does not compare to the individuals on this forum that have many years of experience. I believe most people are willing to pay a fair price for a coin, but if new people coming in keep taking a beating they probably won't come back. I appreciate the feedback I have received from some of the forum members and realize I will make mistakes. But it is nice to know there are people that care about coin collecting as a hobby and not just about making a buck, so yes I feel it is ok to comment. If people are treated fairly in the coin collecting hobby maybe it will start to grow again.

  • Options
    ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭
    edited July 30, 2017 7:37PM
    No, keep opinion to yourself untill auction closes

    Overemphasize the flaws in my own consignments and drive the prices up? >:)

    I only criticize coins via PM. Limits the unintended consequences. o:)

    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • Options
    TommyTypeTommyType Posts: 4,586 ✭✭✭✭✭
    No opinion/who cares.

    I've had my attitude adjusted on the topic. I used to figure that if I'm not selling the coin, then it's not a big deal.

    But, the question is: How do the rest of you KNOW I'm not selling it, or have some financial interest in it? How do we know you aren't pimping a coin you are selling?

    For that reason alone, I've kind of come over to the side that says active auctions shouldn't be discussed.

    That attitude tends to rule the day here....Unless it's an eBay knee slapper, in which case the rule tends to get bent out of shape. :)

    Easily distracted Type Collector
  • Options
    JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    edited July 31, 2017 4:43AM
    No, keep opinion to yourself untill auction closes

    Do you remember the time not so long ago when an expert collector and I do mean an expert trashed talked coins in a current auction on these very boards. Low and behold that expert collector won some of those very lots.

    By voting yes you own this.

    mark

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • Options
    cameonut2011cameonut2011 Posts: 10,061 ✭✭✭✭✭
    No, keep opinion to yourself untill auction closes

    @Justacommeman said:
    Do you remember the time not so long ago when an expert collector and I do mean an expert trashed talked coins in a current auction on these very boards. Low and behold that expert collector won some of those very lots. I guess in some parts this is acceptable. I didn't find it so. By voting yes you own this.

    mark

    I think it reflects poorly on the person who did that. Does the thread still exist or was it nuked?

  • Options
    JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    edited July 30, 2017 9:11PM
    No, keep opinion to yourself untill auction closes

    @cameonut2011 said:

    @Justacommeman said:
    Do you remember the time not so long ago when an expert collector and I do mean an expert trashed talked coins in a current auction on these very boards. Low and behold that expert collector won some of those very lots. I guess in some parts this is acceptable. I didn't find it so. By voting yes you own this.

    mark

    I think it reflects poorly on the person who did that. Does the thread still exist or was it nuked?

    I'm pretty sure it exists. It just shows one angle on how an auction can be used and manipulated before the closing bell to the determent of other potential buyers and that of the seller. The yes vote owns this

    mark

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • Options
    ZoinsZoins Posts: 33,863 ✭✭✭✭✭
    edited July 30, 2017 10:31PM

    I think there are several scenarios for talking about a coin during while a sale is happening and I'm not sure there's a single good answer for all of them. Here are some I can think of, with my thoughts in parenthesis.

    • Newbie asking for advice to learn (ok)
    • Posters asking about / warning others of counterfeits (ok)
    • Posters asking about / warning others of doctored coins (ok)
    • Newsworthy upcoming auctions, e.g. Blue Ridge glass patterns, Pogue, Saddle Ridge, Duke's Creek, Analyst's articles, etc. (ok)
    • Expert trying to buy a coin on the cheap (not ok)
  • Options
    BillyKingsleyBillyKingsley Posts: 2,661 ✭✭✭✭
    Yes, OK to comment.

    If it's something you plan to purchase it's probably better to not link or even talk about it until it's done, because you may bring it to the attention of someone else who wants it and has deeper pockets than you. However, if you just want to learn more, then go for it.

    Billy Kingsley ANA R-3146356 Cardboard History // Numismatic History
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    rickoricko Posts: 98,724 ✭✭✭✭✭
    At the last minute, snipe the coin for yourself...LOL.

    I like to snipe bid... so go ahead and mention the coin, I may not have seen it... ;) Then I can decide and snipe it in the last 3 seconds if I like it.... :D Cheers, RickO

  • Options
    NapNap Posts: 1,705 ✭✭✭✭✭
    Yes, OK to comment.

    Nothing wrong with commenting.

    Starting such a thread seems a more controversial thing.

  • Options
    spacehaydukespacehayduke Posts: 5,470 ✭✭✭✭✭
    No, keep opinion to yourself untill auction closes

    PM's only, no public criticism - for reasons stated already above.


    Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
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    CommemDudeCommemDude Posts: 2,196 ✭✭✭✭✭

    If you post a link to a coin, and you ask for comments, you should expect to receive comments, not silence.
    Everyone's free to offer his opinion and it's up to you to ignore the self-serving or ignorant among them.

    Dr Mikey
    Commems and Early Type
  • Options
    oih82w8oih82w8 Posts: 11,896 ✭✭✭✭✭

    Keep it to yourself...unless you want someone to belittle it, which could subsequently cause you to back off and let someone else in on the item which could drive the price up.

    On the other hand, if you have a "gentleman's agreement" with the one you are seeking advice from, go ahead and ask away...but not in a open forum.

    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

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  • Options
    joebb21joebb21 Posts: 4,733 ✭✭✭✭✭
    At the last minute, snipe the coin for yourself...LOL.

    I would have no problem asking anyone their opinion if I wanted it. However, anything that is at auction is fair game for the world. If they then go after it because you pointed it out, the "fault" if any is on you.

    Anything that is auction in my opinion is fair game for anyone

    may the fonz be with you...always...
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,837 ✭✭✭✭✭

    Etiquette ? Like allowing faster players to play through on the course , or being quiet while a player is addressing and preparing to take a swing ? We're talking savagery , in this sport.

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    Cougar1978Cougar1978 Posts: 7,616 ✭✭✭✭✭
    edited July 31, 2017 7:58AM
    At the last minute, snipe the coin for yourself...LOL.

    u can't make own buying decisions?

    Also leaves u open to member saying "looks counterfeit" or "what a dog" then sniping for themselves lol.

    Thanks for pointing out I will take look at coin then c if can bid it up, take it for myself.

    Being decisive is key in making coin deals, hesitation sale lost or some other player jump in on buy. I have had potential buyers come up to my table at shows like they are some know it all and say "dealer A has that coin for less." Sometimes out of curiosity I might beat them back over to that dealers table and buy the coin myself Or simply c what a dog it is which is usually most always the case.

    So Cali Area - Coins & Currency
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    Coin FinderCoin Finder Posts: 6,953 ✭✭✭✭✭
    Yes, OK to comment.

    I would comment and would not try to snipe it because I might end up paying to much if two or more are going after it. I would also give my honest opinion on the picture of the coin...

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    derrybderryb Posts: 36,196 ✭✭✭✭✭
    Yes, OK to comment.

    Ok to give an opinion when asked for an opinion. Be aware that if you link an ebay coin you are interested in you might lose it to another forum member.

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    ldhairldhair Posts: 7,121 ✭✭✭✭✭
    No, keep opinion to yourself untill auction closes

    Some folks just like to trash others coins. They should wait till the auction is over.

    Larry

  • Options
    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    edited July 31, 2017 9:24AM
    Yes, OK to comment.

    @Justacommeman said:
    Do you remember the time not so long ago when an expert collector and I do mean an expert trashed talked coins in a current auction on these very boards. Low and behold that expert collector won some of those very lots.

    By voting yes you own this.

    mark

    Don't own this since I specifically identified this type of activity as a problem. It still comes down to integrity/ethics.

    If someone asks me for an opinion about a coin currently for sale/auction (that I am currently considering)...then it's off-limits to me. That's part of the ethics-thing.

    People with weaker grading skills on a particular coin come here all the time seeking help. Why should that be so difficult for a bourse dealer to understand? PCGS/NGC/CAC came about because not all people could make their own buying decisions....and still can't...and least not to a high proficiency. If all the collectors who couldn't make their own accurate buying decisions independently of TPGS/CAC...the market would shrink considerably...and affect those very dealers that think every collector should be capable of making their own (accurate) buying decisions.

    Many 10-40 year collectors around here seek out 2nd, 3rd, and even 4th party guidance. In reality, only a minority go it out alone. I knew a major PNG dealer (and very successful) who relied solely on the TPG grades when coins were still mostly raw. He'd post buy prices based on what the coin came back graded...usually 2-3 choices. And they're still around today 30 yrs later....not making the buying decisions entirely on their own. If you haven't attended major raw coin auctions and bought with only your own eyes or purchased major raw collections....it's likely you are relying on other influences in your overall buying decisions. It's no crime though. Just comical that some don't understand the concept. And if you're buying from the public 1-3 grades lower to give you TPG grading margin...well then you aren't making your own "buying/grading decision" either. My local B&M's mostly purchase that way.

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Options
    Insider2Insider2 Posts: 14,452 ✭✭✭✭✭

    I knew if I added the "snipe" option as a joke, it would ruin the results. Shame on me. Perhaps some of you could change your vote to 1,2, or 3 I could tell if I was on the correct side of the majority. Thanks.

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    ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    At the last minute, snipe the coin for yourself...LOL.

    Option 4 is the right answer, it is not a joke.

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    Insider2Insider2 Posts: 14,452 ✭✭✭✭✭

    Is there no honor in numismatics...LOL.

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    ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    edited July 31, 2017 10:06AM
    At the last minute, snipe the coin for yourself...LOL.

    @Insider2 said:
    Is there no honor in numismatics...LOL.

    When a coin is discussed on an open forum before the auction ends or before the winner receives the coin, ALL kinds of Unethical behavior may happen.

  • Options
    BillJonesBillJones Posts: 33,481 ✭✭✭✭✭

    Numismatic etiquette gets tough when you are running a club auction, especially when young numismatists are involved. I compile the auction list for my local club. The previous auction director used to take the coins and compile the lists based on his review, but then his house was broken into and all of the auction coins were stolen. The club paid the members for their losses, but it was still a bad situation.

    Now I compile the list without reviewing the coins ahead of time. I only get to review the coins briefly because I so much to do at the meetings. I am the treasure with all that goes with that plus the education director with a computer based lap top, projector and PowerPoint presentation to set up. Even with a review it gets tough.

    I’ll nail any counterfeits to come up, and those items that are misattributed, like trying to sell a clad Proof Ike and a silver Proof Ike. Grading is tough, especially for over grading and problem coins. Whose toes do you step on – the consigner or bidder who might not know any better?

    This month and next I’m going give a talk on problem coins to see if I can educate people a bit. Some of these guys don’t realized that a Liberty Nickel with a full “LIBERTY” and black crusty surfaces is not a good coin.

    Anyway, I hope you get my drift.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?

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