Anyone notice the new look to Teletrade

smallchange · May 27, 2012 12:50AM

Just checked Teletrade as I have some consignments today and I find a new look. They now show average selling price of the coin, prices in different grades, etc. Seems sort of similar to Heritage auction site now. I think I like it and hope it helps my coins bring a higher price as buyers don't have to do as much searching as a lot of info is right there in front of you,

Jim

CoinDogs · May 27, 2012 1:07AM

Yeah the new price guide is junk it full of error both in the pop report and in the values. I hope they fix that soon

grip · May 27, 2012 2:13AM

I like it...a lot.

MarkBen · May 27, 2012 3:18AM

Yes, competition is great. GreatCollections.Com and Ian Russell caused these changes...

wondercoin · May 27, 2012 3:41AM

"Yeah the new price guide is junk it full of error both in the pop report and in the values. I hope they fix that soon"

CoinDogs ... I see exactly what you are referring to in an instance or two. I have sent an email to Teletrade this morning showing them a mistake where they are representing the PCGS population on a coin inaccurately. I suspect (and hope) they will fix this glitch in no time. Wondercoin

CoinDogs · May 27, 2012 3:57AM

<< "Yeah the new price guide is junk it full of error both in the pop report and in the values. I hope they fix that soon"

CoinDogs ... I see exactly what you are referring to in an instance or two. I have sent an email to Teletrade this morning showing them a mistake where they are representing the PCGS population on a coin inaccurately. I suspect (and hope) they will fix this glitch in no time. Wondercoin >>

I found 15-20 seprate errors in browsing auctions this morning i think the issue is they pull pop data by date not always for the exact coin being auctioned a bunch of varities are wrong with the new pop report data

wondercoin · May 27, 2012 4:02AM

CoinDogs ... Can you email me your findings today so I can forward them to the proper parties at Teletrade. Thanks.

Wondercoin

johnny9434 · May 27, 2012 5:31AM

it looks good.

coinman23885 · May 27, 2012 11:52AM

<< Yes, competition is great. GreatCollections.Com and Ian Russell caused these changes... >>

coinman23885 · May 27, 2012 11:53AM

<< Yeah the new price guide is junk it full of error both in the pop report and in the values. I hope they fix that soon >>

While they're at it, I hope they fix the written descriptions with many of the items. Not all toning is "rainbow toning" for instance. This is a pet peeve of mine.

keyman64 · May 27, 2012 12:39PM

I like it!

RevDrBlimber · June 4, 2012 8:13AM

<< 

<< Yes, competition is great. GreatCollections.Com and Ian Russell caused these changes... >>

>>

Definitely too little too late for the upgrades, though. Who is in charge there? A former investment expert, but why has it taken this long for the improvements? Great Collections is getting quality coins and collections. I see a lot of coins selling at GC that would not do nearly as well at Teletrade; their premiums are too large. And please don't send them raw coins for the "free" grading option, there is no economic advantage to doing so if you crunch the numbers. Plus they have a fashion model in charge of customer service who has no posted credentials for the job. With all the degreed professionals out there pounding the pavement looking for work, there is no excuse not to have the most talented people available for all the jobs at numismatic companies.

LindeDad · June 4, 2012 10:06AM

Well I was not impressed in that they still play the hide the reserve as a bid until the last hour.

BTW did not bite and it went unsold. They have a way of doing that when the reserve is higher than the current price guide.

123cents · June 4, 2012 10:27AM

The site looks good but their shipping times are slower than ever.

mingot · June 4, 2012 10:31AM

<< Well I was not impressed in that they still play the hide the reserve as a bid until the last hour.

BTW did not bite and it went unsold. They have a way of doing that when the reserve is higher than the current price guide.

>>

I thought that they had quit playing that game?

grip · June 4, 2012 10:43AM

I thought the reserve could not exceed 70% of the value.

wondercoin · June 4, 2012 10:46AM

Lindedad: What coin / lot # are you referring to? The current Teletrade system does not work as you are suggesting.

Wondercoin

RevDrBlimber · June 4, 2012 10:55AM

I've done business with them for a while as both a consignor and purchaser. I hope to bypass them in the future as a consignor. Though I am a PCGS dealer, I figured that the raw coin submission system would be practical as they are just down the street. I had a group of coins that I sent them raw and they sat on them for a full month before they sent them to PCGS; they told me so. The raw coin program makes no sense. You have to wait over two months on average before the coins are put in auction. Then you have to place a market reserve, it never works to let the coins just run to market unless they are heavily advertised. Then you wait a while for payment, a couple weeks to over a month. It is a lot easier to get them graded directly and then sell them to a wholesale buyer; many coins do not do well at auction, like common $20 gold coins. Great Collections has definitely changed the market; raw coins come back in a month usually and you get paid in a couple of weeks.

Cougar1978 · June 4, 2012 11:06AM

I like Teletrade, I recently bought a deal there of about a dozen coins for about 1/3 of Market Value. They have good photos and their enhanced site is fantastic showing pricing and pop figures. I can sift thru the items and pick off stuff for inventory.

LindeDad · June 4, 2012 11:13AM

This was the auction #3287 Lot #1774 when I first looked at it with about five hours to go it said current bid $450.00 next bid $475.00. Since that was high I backed off and returned with less than a hour to go and it said opening bid $450.00.

RevDrBlimber · June 4, 2012 11:24AM

<< I like Teletrade, I recently bought a deal there of about a dozen coins for about 1/3 of Market Value. They have good photos and their enhanced site is fantastic showing pricing and pop figures. I can sift thru the items and pick off stuff for inventory. >>

For every sharp buyer who wins, in your case hugely, there are sellers who lose; the seller had to buy the raw coin, get it certified and then ship it to TT for the sale. I just hope the loser can take their losses without suffering hardship. You can be sure it wasn't Spectrum selling those coins through its corporate associate.

wondercoin · June 4, 2012 11:27AM

Lindedad... What was the coin (type/grade, etc.)? Thanks.

Wondercoin

giantsfan20 · June 4, 2012 11:36AM

Did anybody recieve or hear from them about the FREE Ana membersip or Redbook offer they had at the start of April for submiiting a bid They sent me an email after writing them at end of April that they were waiting for records and then be notified but nothing since.

LindeDad · June 4, 2012 11:41AM

Wondercoin it was a 1921 Missouri in PCGS AU58.

RevDrBlimber · June 4, 2012 11:42AM

I had accumulated a bunch of points for buying lots which supposedly entitles customers to freebees. Then I checked and the points had been zeroed out without my getting the free stuff. It is hard to get through to customer service and get real assistance.

mingot · June 4, 2012 11:47AM

<< I had accumulated a bunch of points for buying lots which supposedly entitles customers to freebees. Then I checked and the points had been zeroed out without my getting the free stuff. It is hard to get through to customer service and get real assistance. >>

I'm going to go out on a limb here, but what I think you are telling us is that you don't like teletrade?

Bochiman · June 4, 2012 11:55AM

<< I had accumulated a bunch of points for buying lots which supposedly entitles customers to freebees. Then I checked and the points had been zeroed out without my getting the free stuff. It is hard to get through to customer service and get real assistance. >>

I've never had an issue getting emails returned or getting cs when calling.
For the points, you do need to be responsible and know the rules.... Six months and twelve months

wondercoin · June 4, 2012 12:48PM

RevDrBlimber ... I am a bit confused ... isn't it always the case that someone may be more satisfied with either their purchase or sale? For example, you mention GreatCollections ... are they wonderful because you feel they get more money for consignors than Teletrade does? And, hence, GC might not the best place in your opinion for a savvy buyer to grab a great deal? If I read all of this ... should I be selling on GC and buying on TT? LOL.

In reality, both GC and Teletrade are fine venues to buy and sell in my opinion if you know what you are doing. With Teletrade, I get 1%+ extra as a buyer through their point program. Not too long ago, I picked up my 1 oz gold eagle for achieving 150,000 points. On the other hand, with GC, I pay a 10% buyers fee not 15% or 17 1/2% (and Ian is a true professional). But, I formulate my bid based upon the buyers fee added in so I am not sure that makes a big difference as a buyer (but as a seller it might make a difference).

Anyway, this thread was supposed to be about a "new look" at Teletrade and turned into a mini "rag on Teletrade" thread? I like Teletrade for both buying and selling. I once bid around $50,000 on a coin over there and won it for the next bid at the time (mid $20,000's). I like an auction I believe is being run honestly. On top of that, you have the finest person I have ever met in the entire coin business handling any problems or issues you might have with Teletrade ... Gil. If anyone on this board told me they had a problem with Teletrade they could not solve after working with Gil, I would be shocked (and on top of that you would have a hard time trying to convince me you were in the right).

Wondercoin

Cougar1978 · June 4, 2012 2:28PM

I get zero sellers fee at TTR with their exec dealer contract with max $5 buyback. A great deal for me. There is no feedback hassle like ebay or having to worry about shipping or paypal tapping my money. Every venue has its plus and minus. The new TTR site is wonderful showing the retail selling prices. They try to avg those and one can see the difference in pricing sometimes. I have noticed they dont put values on ICG stuff - insulting? If one can get in there on a day the bidders are asleep deals can be had. If there is a big show going on like FUN that mite be good day to bid and get good deals. I have cleaned up a couple times during FUN like that.

As with any online venue you got to look at coin closely to c why guy sent it there - was it something he could not sell on the bourse?

Cougar1978 · June 4, 2012 2:39PM

<< 

<< I like Teletrade, I recently bought a deal there of about a dozen coins for about 1/3 of Market Value. They have good photos and their enhanced site is fantastic showing pricing and pop figures. I can sift thru the items and pick off stuff for inventory. >>

For every sharp buyer who wins, in your case hugely, there are sellers who lose; the seller had to buy the raw coin, get it certified and then ship it to TT for the sale. I just hope the loser can take their losses without suffering hardship. You can be sure it wasn't Spectrum selling those coins through its corporate associate. >>

Yes sellers sometimes can lose considerably at Teletrade. Pehaps the coin is not all there, bad luck, or they failed to put in a max bid (sota like a Defensive coordinator not putting enough DB's on the field). In that case an experienced buyer will pick them off. I don't feel sorry for those sellers though, it is their choice and in numismatics one has to take responsibility in managing their dealings. Many of them would have gotten a better deal walking the coins up to a dealer at a show and taking 20% back of bid or going to a shop and selling at bluesheet.

wondercoin · June 5, 2012 6:53AM

Lindedad ... Remember that Teletrade changed the rules on reserves effective June 3rd. Now, when a consignor reserves a coin at, say, $100, it no longer requires a bid to win the coin at $110, but the coin can be won at the $100 reserve. That change took effect around 8:00 p.m. during the auction on 6/3/12. You obviously checked the status of the coin earlier in the day and when you returned the new change took effect.

Just an "innocent" situation that needed some explaining of course. As I mentioned on a previous post, I have personally seen no signs of "hanky panky" at Teletrade ... I am always interested, however, in hearing about any concerns expressed by fellow board members as I consign and/or purchase a great many coins a year over on Teletrade.

Wondercoin

grip · June 5, 2012 7:12AM

Good work Mitch

coinguy1989 · June 6, 2012 7:37AM

<< 

<< Yes, competition is great. GreatCollections.Com and Ian Russell caused these changes... >>

>>

coinguy1989 · June 6, 2012 7:37AM

<< 

<< Yeah the new price guide is junk it full of error both in the pop report and in the values. I hope they fix that soon >>

While they're at it, I hope they fix the written descriptions with many of the items. Not all toning is "rainbow toning" for instance. This is a pet peeve of mine. >>

RevDrBlimber · June 6, 2012 8:07AM

Coin auction companies do well when they follow successful systems. Why do you suppose Heritage is the best auction company? They are vigilant, sharp, well-managed and stay ahead of the curve when it comes to upgrades. Are they perfect? Far from it, but they don't make the mistakes that Teletrade does.

LindeDad · June 6, 2012 8:22AM

<< Lindedad ... Remember that Teletrade changed the rules on reserves effective June 3rd. Now, when a consignor reserves a coin at, say, $100, it no longer requires a bid to win the coin at $110, but the coin can be won at the $100 reserve. That change took effect around 8:00 p.m. during the auction on 6/3/12. You obviously checked the status of the coin earlier in the day and when you returned the new change took effect.

Just an "innocent" situation that needed some explaining of course. As I mentioned on a previous post, I have personally seen no signs of "hanky panky" at Teletrade ... I am always interested, however, in hearing about any concerns expressed by fellow board members as I consign and/or purchase a great many coins a year over on Teletrade.

Wondercoin >>

Thanks for the info and what you said is what happened. I had got a heads up on that coin from one of the members here and had registered after not using them for several years. So what had been happening currently was all new to me.

OldEastside · June 6, 2012 8:53AM

I noticed alot of mintage figures were way off, but I'm sure they will fix it

Steve

Anyone notice the new look to Teletrade

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