Anybody here remember coin shop bid boards? Anybody here never seen one?
BlindedByEgo
Posts: 10,754 ✭✭✭✭✭
My dad took me to the local coin shop when I was 8 or 9 years old... I remember these huge wall boards with nails, where coins were stapled to a card and hung, and folks would write what they were willing to pay for the coin. Everyone had their own bidder number, and some (usually cherrypickers) had two or three to try and throw others off of the scent.
I drooled over rarities like 1909 S IHC's bid up to a couple of hundred dollars - gasp, and lots of nice mid-grade Barber material.. The coin shop would be crowded on Friday night at 6, with lots of last minute bids (and even telephone bids written in by a shop employee).
The last bid board I've seen was in the early 2000's at my friend Jack's coin shop in So. Cal. He passed on a couple of years ago... Lots of lessons learned; sometimes losing was like winning...
Anybody have any bid board stories to share?
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When I was in the Army and stationed at Ft.Belvoir in 1975 there was a coin shop near Alexandria, VA. that was owned by a retired military officer. It had a bid board. I bought many coins from that board. A really neat experience.
You couldn't have a bid board these days. Theft would ruin it. Just the different culture we live in today. Sad
When I lived in Washington State, there was a coin shop in Renton that had a bid board. That was in the late '90's and early '00's.... I do not know if it is still there... It was quite active at that time. Often there would be a casual congregation of coin collectors even on week days in that shop. I purchased a few coins there.. Cheers, RickO
As you have asked in your thread title, I’ve never seen one!
Village Coin here in Austin has one. I've picked up some nice coins from it over the years.
The Fostoria OH coin club used to run a bid board at its annual show, with coins submitted from members for auction to the general public and anyone in attendance at the show. Perhaps they still do, but I moved away 17 years ago.
Grading and descriptions were done by a subcommittee a week prior to the show (that was always fun too, even though I was a 'youngster' at the time, but up on current grading standards).
It was strongly suggested if you wanted a minimum dollar amount, that you place your own protective bid (there were no fees anyway), but deals still fell through the cracks, as there were generally ~100 or more coins posted, and bidding started a $1.
I remember a blazing gem '38 D/S buff selling to one of our YNs for $5, and some generic AU Morgans selling for $2 ea, as no one was paying attention to them.
The 'bigger' coins of course brought better money, as there was spirited bidding right up to the end for those.
One CT shop has one that runs two weeks; rarely is there anything worth bidding, the consignors would do better on ebay with make offer listings. I "bit" on one Barber half that was misrepresented as a good AU that was polished and retoned.
Perhaps the coin shops in my area had them at one time, but I personally never saw them.
Pete
I not only have heard of bid walls, I participated in one for a number of years back in the 1980s. The Worthy Coin Shop in Boston was Mecca for Boston area dealers and collectors on Saturday mornings. That was when the final bids were recorded and items were sold.
The principle owner, Corrido Romano, who had been a very active dealer from the late 1930s though the early 1970s, amassed a substantial collection and inventory. He also had contacts with customers to whom he had sold coins and had access to those pieces as well. His son, the late Don Romano, ran the shop. Don was an expert grader and was the “go to expert” for many people in the area.
Some people might scoff at a “bid wall,” but this place was something else. At one point one of the finest known examples of an 1804 dime was sold off of that wall. I was the underbidder and had to drop out when I simply reached the end of my resources; I could not bid any more, as much as I wanted to. The coin sold for something like $6,500. In recent years, coins in similar grades have sold for ten times that amount.
I did end up with a number of very nice coins. One of them was this 1796 Quarter, now in a PCGS VF-25 holder. There were TWO 1796 Quarters in the same auction. This was the lower grade one, which I could afford.
Another is this 1796 dime, which is now in a PCGS AU-50 holder. The opening bid was $1,250 because the owner, who was now deceased, had paid $125 for it in the mid '40s.
There was another bid wall out in the "bergs" that was modeled after the Boston operation. The offerings were not as spectacular, but here were some bargains. I can talk about that too if there is any interest.
A coin shop where I live in Ohio still runs one every two weeks. I occasionally pick up something, but it is usually just a way for the shop owner to move less desirable items.
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
I do recall a coin shop which had that. I never participated in it though.
A coin club where I was a member had what they called a "silent auction" whereby you wrote your bid amount and your name on a lined sheet of paper located right next to the item. You could go back and bid as much as you wanted to. The last name on the sheet when the bidding was closed, having of course the highest bid, won the item.
They always also had a regular "verbal" auction with an auctioneer who was a coin club member. But I liked the silent auction better, as I could take my time with it, inspect the coins as I wished, and then place bids as i wished - lasted around 2 to 3 hours so there wasn't any rush. Used to get some good deals.
There are coin shops in Tucson that still use bid boards. On occasion, I have seen bidders lose all sense of reality, bidding crazy amounts because they want something badly (and it's frequently common) or they dislike another bidder.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Jonathan's Coin Shop on Manchester Blvd.
in Inglewood Calif. had one of the largest Bid
Boards in the entire country, I believe.
It had hundreds of coins up for bids, it closed on
Tuesday nights (7:00 or 7:30 pm), and there were
75++ people there each Tuesday night, sometimes
literally fighting over the 'last bid' before the bell rang.
I worked there in 1972 for one year - great experience.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
I bought my first & only svdb cent from a bid board when I was 16 for ~$130.00. My parents thought I was crazy.
Contest: First person with the correct answer to the following question wins a 90% quarter shipped.
When I lived in New Orleans in 1965, the coin shop had a large, like long board that had the weekly coin board sales. I got a few things, but the best was 5 Morgans for $2. It was a very crowded part of the board, at the bottom, and it was not readily visible that there were 5 dollar coins in the baggie, and they were all 1921's, and, IIRC the label just said 1921, so it was something that could be gotten at the bank for $1 anyway. I felt like I had won the powerball on that one.
As far as silent auctions go, non coin, a company I worked for, was an internet seller of overages, returns, close outs, etc. We had tons of Dell computers, flat screens, even Breitling watches at times. Stuff that did not sell, items that came back no address, credit card bounces, etc. were put out periodically on silent auction. It was BRUTAL on the really good stuff with 4 - 5 people hovering over an item at the end, trying to be the last person to write their name and amount. It was a significant income supplement for some people. For example, one of the auctions had 2 Breitling watches, and everyone was packed around them, so a lot of other stuff went for virtually nothing. I picked up 15 +/- $200 - $300 fishing reels for $2 each, and off they went to ebay.
You listened to your parents and immediately sold it at a profit. That showed them!
bob
Tucson has four bid boards that end on Saturday. Collectors make the rounds each week. My bid board is ebay.
The Niles Coin Shop in Niles, IL. has had a bid board for 28 years. I’ve bought many of my coins and currency there. The board previously closed on Tuesday evening. The shop would be filled with bidders waiting to place last minute bids or just waiting to pick up their winnings. Now it closes on Saturday. I’ve bought many of my Carson City dollars from there. I was underbidder on a raw 1870-CC dollar 20 yrs ago that went for $280.
I used to participate in a bid board in the late 1990's. Bought a lot of UNC Morgans for $10-11. Later, a number of them slabbed at PCGS at MS-64. (And a couple slabbed at AU DETAILS - Cleaned). But it was a lot of fun. The owner later closed up shop and went 100 percent eBay.
Complete Set of Chopmarked Trade Dollars
Carson City Silver Dollars Complete 1870-1893http://www.pcgs.com/setregistry/showcase.aspx?sc=2722"
Yes and had to change my bidder number 4 time because one of the workers there would tell others to bid on anything I did and they would be happy they did, I did nail some nice coins on there.
Hoard the keys.
There are 2 bid boards in Hawaii, I have materials for sale on one of them. Seller pays 15% commission. Bidder pays none. Just put an 1807 half on it....
The guy on Speedway has a nice board. Have never bid though.
Seems reasonable. How high a value coin are you comfortable consigning.
Maybe $200-300. I usually sell raw there, as the slabbed stuff sits. Not that large of a pool of buyers, so higher value stuff I'd rather sell on something like BST, as well as the graded bits. Most stuff is 30-75 dollar range.
I remember them well. Early to late 70s for me. I bought lots of stuff but never anything very expensive or rare.
it's crackers to slip a rozzer the dropsy in snide
I bought my first & only svdb cent from a bid board when I was 16 for ~$130.00. My parents thought I was crazy.
Contest:
First person with the correct answer to the following question wins a 90% quarter shipped.
1.What happened to the svdb cent I bought?
2.First correct answer posted wins.
3.Contest ends 12:59pm, 4/3/18 PDT.
Here is the best buy I made on the bid wall that was actually located in the town of Foxboro, Massachusetts. Yes, there is something out there other than the New England Patriots home field. I bought this 1852 No Motto $5 gold piece. It's now in an NGC MS-61 holder. It was worth a $150 or so more than I paid for it at the time something more than 20 years ago.
In the 1980s in Southern California, there were a bunch. Almost every night one would close. I lived in Pasadena and was a regular at Universal Coin Galleries, now long gone. There was also one in Glendale, another in Covina, and a few down towards Orange County. A few vest-pocket dealers would do the circuit, buying on one board and selling on another. It was a fun scene.
LRC Numismatics eBay listings:
http://stores.ebay.com/lrcnumismatics
As far as I know there are still a couple in SoCal. Citi Coin in Van Nuys used to have a really good one until he closed his B&M a few years ago.
My Ebay Store
another one in San Gabriel off SG Blvd, relocated, and the owner has since passed away.
A vest pocket dealer was mentioned - he was one of the guys putting up "California Specials" (artificially frosted Morgans) on my hometown shops' bidboard. Jack finally banished him... Heh... Full circle. It was a fun time, pre- and peri-Internet. Thanks for all of the stories!
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Great stories all. They used to have the same thing with sportscards. Those I participate in
@BillJones thanks for sharing!
m
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......
It got put in a roll of cents and taken to bank.
I have heard of them but never actually saw one.
I too go to the Niles Coin Shop bid board on the Saturdays that it closes.
Spent by your brother when you went to Vietnam.
I was going to mention Village Coin. I left Austin for greener pastures but it was still active when I was there 2016 (and when Brian decided to open up the shop, lol)
The whole worlds off its rocker, buy Gold™.
The "S" fell off
OH CRAP.....that did not work out too good!
bob
When I was a teenager busting into the coin biz I used to help a local dealer run his bid board, and eventually it ended up being my gig. I learned a lot about people and organizational skills, because most of the buyers wanted their stuff right then and there, and even though we stated that consignors would be paid later, there were those who wanted their $$$ immediately to pay for stuff they had bought that otherwise they couldn't pay for. (Some things never change.)
)
It was a great way to learn stuff, and as another poster mentioned, people would actually fight and push and shove to get their final bids in after the bell rang.
"Old school" sniping, I guess you'd call it.
I had to get several different bidder numbers, as I was already known as a "variety guy" and possible wise-guy cherrypicker, and there were those who noticed my bid number and would bid on things that I bid on because they thought they must have missed something.
(Although I admit I did use this tactic in reverse for nefarious reasons to dump my own less than desirable material
I still participate weekly in a couple of local bid boards !!!
Sent to DCarr and it came back a 14-D
3278 was mine, tried to outbid you and Chuck.
Alive and well in Tulsa, 3 local shops run bi - weekly boards, closing at 2 pm on Saturday, I have seen it get
pretty serious in the last hour.
I believe the shops alternate Saturdays so they don't overlap each others boards.
Pictures from "Tulsa Gold and Silver" website...
R.I.P Son 1986>2020
He started a small one in one of the cases and I bet it will get bigger over time with only about 50 items but you can use your same number or numbers.
Hoard the keys.
Coin shop near me, back in the 90's, Saturday noon was end of bidding and place was packed.
Fun times.
100% Positive BST transactions
It ended up in a Whitman folder???
3 Forum members have never seen one out of 46 respondents. Interesting.
I don't think I've even walked into a B&M shop for 8-10 years. Wow, times do change... But it's great to hear (and see) that this old mainstay of coin collecting is alive and well.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
All the B&Ms within 50 miles (maybe 70) are gone. The last bid board was in one that closed maybe 25 years ago...and that one was still STAMP and coin.
There was a small store in southern CT that had one, I both bought and sold on it in the late '80s / early '90s. I remember buying a nice circulated 1895-O Barber dime with almost full rims for $50, I then tried to build a date set with matching patina around it. I also sold a bunch of 1995 DDO cents there, which I had pulled out of bank rolls.
While there is still a coin store on that site, the bid board went away in the late 1990s. I found out recently that the former owner passed away about two years ago.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Jack's Shop would not have been in Simi Valley would it ?
Steve