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What was the name of the coin auction that went out of business
JoshL
Posts: 656 ✭✭
Hi
A few years ago, there was a coin auction website that ran auctions a few times a week.
I think it started with a T? They had a lot of inexpensive coins. Actually, they had just about anything and everything coin-wise.
Does anyone remember the name of that website/auction?
Do you know what happened to it? Did it become a new website or get bought out?
Sorry, that is not a lot to go on. Maybe someone will know what I am talking about.
Appreciate it! Have a nice weekend.
I love coins...
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For some reason, I keep thinking it was True or Trusomething or other. I may be way off base on that. Bad memory.
Teletrade.
Yes. Thank you.
Teletrade---You would bid over your touch tone land-line telephone for coins slabbed by the major grading services. They would mail out a list of coins in their upcoming auctions with a brief description of each coin a couple of times a week. This was before personal computers and smart phones so you couldn't see a pic of the coins you were bidding on. After awhile Teletrade got the reputation as a dumping ground for slabbed coins that dealers couldn't otherwise sell sight seen.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Teletrade had some great auctions.
They were acquired by Stack's Bowers. I wish Stack's kept their auction history online.
Here's an interesting thread. I never knew Ian Russell of GreatCollections was previously President of Teletrade and COO of Bowers Morena!
https://www.coincommunity.com/forum/topic.asp?TOPIC_ID=169873
Here's Ian's bio from GreatCollections. I bolded the text that mentions Teletrade.
Interesting, I never knew Ian Russell ran TT before starting GC.
Never knew this...
Thanks for sharing!
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Interesting info - thanks for posting! Picked up more than a few interesting holders on Teletrade.
I can remember going to “get gas” at 9:45p to make a phone bid on a TT coin auction that ended at 10:00p. It was a coin that was a little higher than I wanted my wife to know.
I have an old TT catalog in my desk at work. I’ll pull it out Monday and check the date.
Interesting history. I have one slabbed coin (PCGS) with a TT sticker on it... I purchased it at a show though, not through TT. Did not realize the extent of Ian's history in numismatics. Cheers, RickO
I never had a bad experience with TT or GC. Except for getting outbid
Martin
Is it known if Stack's Bowers got that info in the aquisition or could it still be owned by another company?
Would be nice if that info was restored again.
They were around for a long time. I recall consigning and buying a few things in the early 1990's. They may have even begun in the late 1980's.
Found I picked upsome years ago for $5 "The Teletrade Real Price Guide" "Year 2001 Edition" 13th edition covering "Two-Years 1999-2000". Shows an issue price of $50. Has a lot of results info including both old and modern die varieties which were harder to find pricing about online back then.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
this
I remember getting VHS tapes of the coins that were to be auction off. Which I had saved them. I think it was in the late 80s.
Yup, Teletrade, I was sad to see them go, heck, I might have an old weekly auction mailer from the 90's somewhere from when you could only bid by phone
Steve
Ah, memories of 1992. A push button land line phone, Prodigy as internet, and the musical tone sequence while connecting through the router.
He who knows he has enough is rich.
I bought couple good coin from Teletrade long time ago
Teletrade had a great user friendly system that benefitted the hobby. Ian who runs GC worked there a number of years before starting his own company. Also Steve Deeds ran Superior Auctions, again an exceptional system in the years when the hobby was booming. He passed away.
Brings back memories.....I still have one coin left, in my collection, from Teletrade. They were pioneers in the industry.
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My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
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Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I sold lots and lots of stuff via TT 25 to 30 years ago.
I found deals with teletrade than ha
I remember my first coin that I bought on Teletrade. It was back in 1996 and it was the first auction I had participated. The coin was an 1963 MS63 Indian Cent. I win the bid for around $150 and I was a little apprehensive about the transaction since there were no photographs. The coin turned out to be a nice coin and it upgraded to MS64. I still have the coin.
Overland Trail Collection Showcase
Dahlonega Type Set-2008 PCGS Best Exhibited Set
Thanks for the memories. If I recall correctly they were a greater auction site for coins than EBay which was still focused on Beanie Babies. Maybe EBay's eventual prominence had something to do with their later stepping aside.
That could be it. GC has figured out how to co-exist with eBay. I wonder co-existing with eBay required changes TT wasn't willing to make?
Bought a lot of stuff from Teletrade in old days for retail show inventory. Would just mark them up over cost accordingly. Did well.
Of course if really unhappy on low end dog would return.
If u had bid too high y probably bidding against owner so I backed off on those.
Many won in last few seconds so I would have ready list.
When I was putting together my 1950-71 cameo proof sets, Teletrade was a major source. I still have 54 pieces from TT, all purchased from 1998 to 2003.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
I purchased a few rattlers from Teletrade in years back. They were an
excellent resource for beginners and set builders. Irma Kane (now at NGC ?)
was always a very pleasant person to interact with for purchases and sales.
I was disappointed to see them stop their auctions. On another recall, I once
made a call to the New England Rare Coin Galleries and none other than
a Mr. Jim Halperin picked up the phone, and we had a long chat but I'll keep that
slabbed.
I started doing teletrade towards the end of the phone deal. They were excellent when they went on line....Stacks...you F'd up when you let teletrade die. I still regret to this day not going stronger for a wonderful, original 70-CC quarter PCGS graded 30. It sold for less than 8K!
Same here. There were quite a few auctions where 10-20% of the coins were mine, lol
I would send them 3-400 coins at a pop after shows..PCGS/NGC/ANACS then on to TT.
Consignor statements that looked like a telephone book.
Great days.
And then when eBay first started up until about 2005/6, the very profitable TT/eBay flip.
I never could understand why they got the reputation of selling doggy coins.
All you had to do was figure out how to interpret the descriptions.
"Above average strike and luster" = today's A coin, likely possible CAC.
"Below average strike and luster, some ticks on both sides"= C coin, Friday afternoon coin.
"Subdued luster, ticks and taps" = C- coin, Friday afternoon after 3 drink lunch coin.
I bought many great-looking coins from them, and very few dogs.
Some crazy nice toners too.
And, not to mention the holiday hams they used to send were amazing!
(Joking about the ham.....kind of.)
I once cherried 18 1964-D DDO-001 half dollars out of a junk silver box for around $2 each back in the early nineties. I subsequently sold them on TT for $90-$120 each. Those were the days!
Yes they were!
Varieties were on fire in the early 90s....any coin you could get holdered with "DDO", "DDR", RPM was money in the bank!