solid experience when buying. Pretty prompt shipping. No hassle return on the one occasion I didn't like the coin in hand.
Probably not the best place to sell inexpensive coins, as the listing fee cuts into the price realized.
Like with all auctions, price realized depends on the coin. I've had some sell for more than I expected,
some less.
@TimNH said:
2 great things about GC compared with the other big auction sites -
10% fee instead of 20%, much more digestable
You know the exact time of the auction, unlike the others where you have to tune in and wait for your coin to come up.
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
@TimNH said:
2 great things about GC compared with the other big auction sites -
10% fee instead of 20%, much more digestable
You know the exact time of the auction, unlike the others where you have to tune in and wait for your coin to come up.
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
Exactly!
So when are consigners going to realize that when they submit coins to the auction house's that charge 20% that the bids coming in are going to be less because of the auction fee of 20%.
I know that I will bid less on a coin to account for the fee's involved, if they charge 10% I'm likely to bid a higher amount on the coin then in a auction that charges 20%
JMO
@TimNH said:
2 great things about GC compared with the other big auction sites -
10% fee instead of 20%, much more digestable
You know the exact time of the auction, unlike the others where you have to tune in and wait for your coin to come up.
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
Exactly!
So when are consigners going to realize that when they submit coins to the auction house's that charge 20% that the bids coming in are going to be less because of the auction fee of 20%.
I know that I will bid less on a coin to account for the fee's involved, if they charge 10% I'm likely to bid a higher amount on the coin then in a auction that charges 20%
JMO
It’s the same thing with shipping but I bet you’d be surprised at the number of people on eBay that would be much happier paying $31 for something with free shipping instead of $20 for the same item with $10 for shipping. Many bidders are irrationally irked by any surcharge on top of their bids instead of factoring in everything together.
Ex: I value a coin at $29 plus shipping (say around $35 or so delivered). I can then bid up to $24 and win the coin at GC. (with their generous min. $5 BP). But, if I bid at another auction venue that has a $29 min. Buyers fee (as some do), I can’t win the coin at the price I value the coin at under ANY circumstances. Literally, the starting bid of $1 results in a $30 min. cost on the coin plus shipping.
Agree?
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
@skier07 said:
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
It may not make a difference from how much the coin will end up selling, but it makes a big difference for how much the consignor ends up making from the coin. Auction house fees is basically a tax on every collector. The higher the fees, the less collectors will make from their investments. So lower auction house fees helps every collector in the long run.
‘’It may not make a difference from how much the coin will end up selling, but it makes a big difference for how much the consignor ends up making from the coin. Auction house fees is basically a tax on every collector. The higher the fees, the less collectors will make from their investments. So lower auction house fees helps every collector in the long run.’’
Not exactly - the net difference between me consigning to auction houses that even have as wide a spread for the BP as 10% vs. 20% is literally 1/2 of 1%!! I won’t say which is the better venue by that 1/2 of 1%, but it is literally that close for “apples to apples” no reserve auction consignments. Hence, it often makes virtually no difference at all to a consignor (that is constantly selling coins) whether he consigns to an auction house with a 10% BP or one with a 20% BP. Of course, to the “casual” seller who might sell a few inexpensive coins a year (or even 1 collection a year), it can possibly make a big difference- agreed as to the casual seller.
Wondercoin.
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Another great thing about GC is their pictures. A very, very accurate series of pictures accompany each coin. I’ve also seen MANY coins with multiple photographs to truly show how a coin can look at different angles and with different lighting. When buying online this can be EVERYTHING! I’ve never made a return to GC due to images. Heck, I’ve never returned anything to them….
Having fun while switching things up and focusing on a next level PCGS slabbed 1950+ type set, while still looking for great examples for the 7070.
@TimNH said:
2 great things about GC compared with the other big auction sites -
10% fee instead of 20%, much more digestable
You know the exact time of the auction, unlike the others where you have to tune in and wait for your coin to come up.
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
Exactly!
So when are consigners going to realize that when they submit coins to the auction house's that charge 20% that the bids coming in are going to be less because of the auction fee of 20%.
I know that I will bid less on a coin to account for the fee's involved, if they charge 10% I'm likely to bid a higher amount on the coin then in a auction that charges 20%
JMO
Consignor KNOW. But big consignors get a piece of the 20%. And if they get 20% more money, it's well worth it.
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
It's not about the BP or SP. It's about the net in your pocket. There are numerous things that get much better money at Stack's and Heritage than they would at GC.
@skier07 said:
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
It may not make a difference from how much the coin will end up selling, but it makes a big difference for how much the consignor ends up making from the coin. Auction house fees is basically a tax on every collector. The higher the fees, the less collectors will make from their investments. So lower auction house fees helps every collector in the long run.
It's not nearly that simple. There are items you could never even find to buy if it weren't for Heritage and Stack's.
The discussion financials are also not as straight forward as you think.
@TimNH said:
2 great things about GC compared with the other big auction sites -
10% fee instead of 20%, much more digestable
You know the exact time of the auction, unlike the others where you have to tune in and wait for your coin to come up.
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
Exactly!
So when are consigners going to realize that when they submit coins to the auction house's that charge 20% that the bids coming in are going to be less because of the auction fee of 20%.
I know that I will bid less on a coin to account for the fee's involved, if they charge 10% I'm likely to bid a higher amount on the coin then in a auction that charges 20%
JMO
Consignor KNOW. But big consignors get a piece of the 20%. And if they get 20% more money, it's well worth it.
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
It's not about the BP or SP. It's about the net in your pocket. There are numerous things that get much better money at Stack's and Heritage than they would at GC.
Consignor KNOW. But big consignors get a piece of the 20%. And if **they get 20% more money, it's well worth it.
**
The BIG GUYS, How about the normal guy??? They get to pay for sellling their coin and 20% added to buy a coin!
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
@wondercoin said:
‘’The buyers fee shouldn’t make any difference.’’
YES IT CAN MAKE A HUGE DIFFERENCE.
Ex: I value a coin at $29 plus shipping (say around $35 or so delivered). I can then bid up to $24 and win the coin at GC. (with their generous min. $5 BP). But, if I bid at another auction venue that has a $29 min. Buyers fee (as some do), I can’t win the coin at the price I value the coin at under ANY circumstances. Literally, the starting bid of $1 results in a $30 min. cost on the coin plus shipping.
Agree?
Wondercoin
Yes.
Also shipping or sales tax can be a huge issue for coins under $50.
But the overall math is not s simple as people are making it. Not you. You've laid it out a little bit in your other post.
There are things that are much better at Stack's than Heritage or GC. There are things at Heritage that are better than Stack's and GC. And there are things better at GC.
I have bought things at each of those venues that I have sold for a profit on eBay. The simple fact that Cougar said he buys things at GC to retail should tell you all you need to know.
If you have a token collection and you send it to GC, you are likely leaving a lot of money on the table relative to Stack's, for example.
@TimNH said:
2 great things about GC compared with the other big auction sites -
10% fee instead of 20%, much more digestable
You know the exact time of the auction, unlike the others where you have to tune in and wait for your coin to come up.
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
Exactly!
So when are consigners going to realize that when they submit coins to the auction house's that charge 20% that the bids coming in are going to be less because of the auction fee of 20%.
I know that I will bid less on a coin to account for the fee's involved, if they charge 10% I'm likely to bid a higher amount on the coin then in a auction that charges 20%
JMO
Consignor KNOW. But big consignors get a piece of the 20%. And if they get 20% more money, it's well worth it.
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
It's not about the BP or SP. It's about the net in your pocket. There are numerous things that get much better money at Stack's and Heritage than they would at GC.
Consignor KNOW. But big consignors get a piece of the 20%. And if **they get 20% more money, it's well worth it.
**
The BIG GUYS, How about the normal guy??? They get to pay for sellling their coin and 20% added to buy a coin!
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
Exactly what is the "added value"???
Publicity. Placement/visibility. Customer base. There are some things (not all) that will get way more money at stack's or heritage than GC.
Rather arrogant of you to think you know more than every coin dealer in the country on how to make money on coins. People don't consign to Heritage or Stack's because they don't know better. They do it because they do know better.
If it's all about the BP, everything should be on eBay or, even better, Instagram.
@TimNH said:
2 great things about GC compared with the other big auction sites -
10% fee instead of 20%, much more digestable
You know the exact time of the auction, unlike the others where you have to tune in and wait for your coin to come up.
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
Exactly!
So when are consigners going to realize that when they submit coins to the auction house's that charge 20% that the bids coming in are going to be less because of the auction fee of 20%.
I know that I will bid less on a coin to account for the fee's involved, if they charge 10% I'm likely to bid a higher amount on the coin then in a auction that charges 20%
JMO
Consignor KNOW. But big consignors get a piece of the 20%. And if they get 20% more money, it's well worth it.
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
It's not about the BP or SP. It's about the net in your pocket. There are numerous things that get much better money at Stack's and Heritage than they would at GC.
Consignor KNOW. But big consignors get a piece of the 20%. And if **they get 20% more money, it's well worth it.
**
The BIG GUYS, How about the normal guy??? They get to pay for sellling their coin and 20% added to buy a coin!
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
Exactly what is the "added value"???
Publicity. Placement/visibility. Customer base. There are some things (not all) that will get way more money at stack's or heritage than GC.
Rather arrogant of you to think you know more than every coin dealer in the country on how to make money on coins. People don't consign to Heritage or Stack's because they don't know better. They do it because they do know better.
If it's all about the BP, everything should be on eBay or, even better, Instagram.
I think it's funny on how you switched it to selling coins when the topic was about buying coins
I'm not going to argue with you about where is the best place to BUY coins
If you prefer to buy from the big boys and pay the 20% BP that's fine
I prefer to buy from a 10% BP venue.
I never said anything about selling..................
@TimNH said:
2 great things about GC compared with the other big auction sites -
10% fee instead of 20%, much more digestable
You know the exact time of the auction, unlike the others where you have to tune in and wait for your coin to come up.
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
Exactly!
So when are consigners going to realize that when they submit coins to the auction house's that charge 20% that the bids coming in are going to be less because of the auction fee of 20%.
I know that I will bid less on a coin to account for the fee's involved, if they charge 10% I'm likely to bid a higher amount on the coin then in a auction that charges 20%
JMO
Consignor KNOW. But big consignors get a piece of the 20%. And if they get 20% more money, it's well worth it.
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
It's not about the BP or SP. It's about the net in your pocket. There are numerous things that get much better money at Stack's and Heritage than they would at GC.
Consignor KNOW. But big consignors get a piece of the 20%. And if **they get 20% more money, it's well worth it.
**
The BIG GUYS, How about the normal guy??? They get to pay for sellling their coin and 20% added to buy a coin!
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
Exactly what is the "added value"???
Publicity. Placement/visibility. Customer base. There are some things (not all) that will get way more money at stack's or heritage than GC.
Rather arrogant of you to think you know more than every coin dealer in the country on how to make money on coins. People don't consign to Heritage or Stack's because they don't know better. They do it because they do know better.
If it's all about the BP, everything should be on eBay or, even better, Instagram.
I think it's funny on how you switched it to selling coins when the topic was about buying coins
I'm not going to argue with you about where is the best place to BUY coins
If you prefer to buy from the big boys and pay the 20% BP that's fine
I prefer to buy from a 10% BP venue.
I never said anything about selling..................
I never switched. You did. My response was too your comment that started "So when are consignors going to realize..." YOU mentioned consignors and that's what I responded to.
I've always been discussing both. But there's ZERO advantage to the buyer. The buyer pays the same no matter what the BP is: whatever they choose to bid. I've never paid one cent more at Heritage than I have at GC.
Yes,
My comment, So when are consigners going to realize..
That they will BID lower on the coin in a 20% BP auction then they would BID on a 10% auction Just so that the final price of the coin is the same, difference is the consignor would get less in the 20% auction vs the 10% auction
$1000 coin value
I would bid $835 in the 20% BP auction
I would be able to bid $909 in a 10% BP auction
So the consignor would get $74 more,
Just the way I do it
I have bought and sold with GC quite a few times with nothing but praise for their speed with both funds delivery and coin delivery, but most of all I appreciate their customer service. When dealing with them on an issue it's as if they were friends. I have both sold holdered and raw coins with them. The raw coins were sent for grading and attribution, both a group of half cents and currently a group of 20 large cents. I no longer get concerned over time as no one seems quick these days. Although, my payment checks from GC have always arrived well before promised or expected. Ian has been personally approachable and gives a very good feeling towards a corporate image.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
I like to buy from GC when I can, but these days honestly It's really tough for me to buy anything at dealer levels. I can find more coins that fall through the cracks at HA or SB, GC seems to always be full retail anymore.
I love GC's 10% bp, and appreciate that the average consignor might net more there, but you never know what terms the consignor at another venue might have signed for. HA might be offering 107.5 % of hammer to a preferred consignor, so it might only be a 2.5% difference overall if the coin were to sell at the same total price on HA vs GC.
Also, the coins I seek are not easy to find, so wherever they show up is where I'll be bidding/offering. I like to support the sellers of my preference, but I will buy coins from dealers/auction houses I'm not fond of, as long as it makes sense to me.
@skier07 said:
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
It may not make a difference from how much the coin will end up selling, but it makes a big difference for how much the consignor ends up making from the coin. Auction house fees is basically a tax on every collector. The higher the fees, the less collectors will make from their investments. So lower auction house fees helps every collector in the long run.
It's not nearly that simple. There are items you could never even find to buy if it weren't for Heritage and Stack's.
The discussion financials are also not as straight forward as you think.
Of course, nothing is simple. I was just trying to generalize things. I have sold on Heritage and on GreatCollections. Certain coins I choose Heritage over GC even though GC charges less in fees. So I know what you are talking about. But just in general, lower fees means more money is kept by collectors, which is what we want. So GC charging less puts more pressure on Heritage and Stack's to charge less or at least not increase the price. I bet if GC didn't exist, we will already be seeing 25% BP on Heritage.
@EliteCollection said:
So GC charging less puts more pressure on Heritage and Stack's to charge less or at least not increase the price. I bet if GC didn't exist, we will already be seeing 25% BP on Heritage.
I agree with this assessment.
Having fun while switching things up and focusing on a next level PCGS slabbed 1950+ type set, while still looking for great examples for the 7070.
I've bought nothing from Gc due to the terrible pics they've had on Jefferson nickels. After a 10+ year wait for the photography to improve, the new guy Phil has finally provided some decent pics on a few coins. I even updated my account there so I may possibly bid. Well, as a fact, I did place my first bid there the other day. To the guy who keeps shoving the light into Jefferson's face, wiping out all details and nicks there no-way I can work with that! Learn how to use an umbrella in your photography buddy, will ya!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
@M4Madness said:
I hate to bump a 7-month old thread, but was wondering about bidding there.
Go to the GC home page. Extreme top right where it says : Home, My GC etc. Over to News and click. Next page, left side. Explains everything you need to know.
I have bought many wonderful coins from GC but agree with @DeplorableDan that it's hard to find bargains these days at GC. I have also consigned hundreds of coins to GC (including nearly 500 in process right now) and have been overall quite happy with the results. They also get your checks to you within 30 days after auction end, not months later like, ahem, some of the other major auction houses.
@giorgio11 said:
I have bought many wonderful coins from GC but agree with @DeplorableDan that it's hard to find bargains these days at GC. I have also consigned hundreds of coins to GC (including nearly 500 in process right now) and have been overall quite happy with the results. They also get your checks to you within 30 days after auction end, not months later like, ahem, some of the other major auction houses.
Kind regards,
George
It's harder to find bargains in US coins. Other categories...
Started dealing with them in January 2024.....had been out of coins for many years...started with ebay, stacks bowers and heritage...They are very good to deal with...return privilege on most auction items, ships usually same day, great pictures and nice people....Paul is top notch...also sold almost 100 lots....if you want retail for your coins this is not the place for you....if you like toned Morgan Dollars this is the place for you!! Highly Recommend Great Collections!
How long does it usually take for GC to answer an email? I emailed them July 5 with a question and still no reply. I guess perhaps the holiday is the reason.
DPOTD-3 'Emancipate yourselves from mental slavery'
@ajaan said:
How long does it usually take for GC to answer an email? I emailed them July 5 with a question and still no reply. I guess perhaps the holiday is the reason.
I didn't check my calendar but I think July 6th and 7th might have been on a weekend, too.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@ajaan said:
How long does it usually take for GC to answer an email? I emailed them July 5 with a question and still no reply. I guess perhaps the holiday is the reason.
I didn't check my calendar but I think July 6th and 7th might have been on a weekend, too.
I called ebay at 2:00 a.m. on Sunday and they answered (in Bangalore).
@ajaan said:
How long does it usually take for GC to answer an email? I emailed them July 5 with a question and still no reply. I guess perhaps the holiday is the reason.
I didn't check my calendar but I think July 6th and 7th might have been on a weekend, too.
They definitely have customer support working on weekends since all of their auctions end on Sundays. I emailed them Saturday to inquire about raising my bid limit and they got back to me within an hour.
Although it would make sense that for anything not related to auctions ending that weekend they wait until the work week.
Sure I'm repeating posts since there are a lot in this thread but I really like GC both buying and selling.
Process to sell is simple and a super quick turnaround from mailing the coin to having check in hand compared to other auction houses.
Buying has super reasonable fees and shipping is lightning quick. Now with the quality pictures available it's even better as picture quality was always my one negative in the past.
Comments
Great place to buy great material to retail at shows. Stuff am only one in room with which brings good money too.
solid experience when buying. Pretty prompt shipping. No hassle return on the one occasion I didn't like the coin in hand.
Probably not the best place to sell inexpensive coins, as the listing fee cuts into the price realized.
Like with all auctions, price realized depends on the coin. I've had some sell for more than I expected,
some less.
I have bought and sold with Great Collections and was pleased.
2 great things about GC compared with the other big auction sites -
The buyers fee shouldn’t make any difference. This is an extreme example but if an auction house had a 100% buyers fee and I valued a coin at $1000 my maximum bid would be only $500.
Exactly!
So when are consigners going to realize that when they submit coins to the auction house's that charge 20% that the bids coming in are going to be less because of the auction fee of 20%.
I know that I will bid less on a coin to account for the fee's involved, if they charge 10% I'm likely to bid a higher amount on the coin then in a auction that charges 20%
JMO
Mike
My Indians
Danco Set
It’s the same thing with shipping but I bet you’d be surprised at the number of people on eBay that would be much happier paying $31 for something with free shipping instead of $20 for the same item with $10 for shipping. Many bidders are irrationally irked by any surcharge on top of their bids instead of factoring in everything together.
‘’The buyers fee shouldn’t make any difference.’’
YES IT CAN MAKE A HUGE DIFFERENCE.
Ex: I value a coin at $29 plus shipping (say around $35 or so delivered). I can then bid up to $24 and win the coin at GC. (with their generous min. $5 BP). But, if I bid at another auction venue that has a $29 min. Buyers fee (as some do), I can’t win the coin at the price I value the coin at under ANY circumstances. Literally, the starting bid of $1 results in a $30 min. cost on the coin plus shipping.
Agree?
Wondercoin
It may not make a difference from how much the coin will end up selling, but it makes a big difference for how much the consignor ends up making from the coin. Auction house fees is basically a tax on every collector. The higher the fees, the less collectors will make from their investments. So lower auction house fees helps every collector in the long run.
Follow me on MyCollect!
I've been saying this for years and finally there are others that agree with me!
Mike
My Indians
Danco Set
‘’It may not make a difference from how much the coin will end up selling, but it makes a big difference for how much the consignor ends up making from the coin. Auction house fees is basically a tax on every collector. The higher the fees, the less collectors will make from their investments. So lower auction house fees helps every collector in the long run.’’
Not exactly - the net difference between me consigning to auction houses that even have as wide a spread for the BP as 10% vs. 20% is literally 1/2 of 1%!! I won’t say which is the better venue by that 1/2 of 1%, but it is literally that close for “apples to apples” no reserve auction consignments. Hence, it often makes virtually no difference at all to a consignor (that is constantly selling coins) whether he consigns to an auction house with a 10% BP or one with a 20% BP. Of course, to the “casual” seller who might sell a few inexpensive coins a year (or even 1 collection a year), it can possibly make a big difference- agreed as to the casual seller.
Wondercoin.
Another great thing about GC is their pictures. A very, very accurate series of pictures accompany each coin. I’ve also seen MANY coins with multiple photographs to truly show how a coin can look at different angles and with different lighting. When buying online this can be EVERYTHING! I’ve never made a return to GC due to images. Heck, I’ve never returned anything to them….
Having fun while switching things up and focusing on a next level PCGS slabbed 1950+ type set, while still looking for great examples for the 7070.
I love GC as a buyer. Someday when my collection is worth it and have to pay more for my daughters is when I'll likely sell.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Consignor KNOW. But big consignors get a piece of the 20%. And if they get 20% more money, it's well worth it.
When are people going to realize that businesses know what they are doing and are willing to spend money for the value added?
It's not about the BP or SP. It's about the net in your pocket. There are numerous things that get much better money at Stack's and Heritage than they would at GC.
It's not nearly that simple. There are items you could never even find to buy if it weren't for Heritage and Stack's.
The discussion financials are also not as straight forward as you think.
**
The BIG GUYS, How about the normal guy??? They get to pay for sellling their coin and 20% added to buy a coin!
Exactly what is the "added value"???
Mike
My Indians
Danco Set
Yes.
Also shipping or sales tax can be a huge issue for coins under $50.
But the overall math is not s simple as people are making it. Not you. You've laid it out a little bit in your other post.
There are things that are much better at Stack's than Heritage or GC. There are things at Heritage that are better than Stack's and GC. And there are things better at GC.
I have bought things at each of those venues that I have sold for a profit on eBay. The simple fact that Cougar said he buys things at GC to retail should tell you all you need to know.
If you have a token collection and you send it to GC, you are likely leaving a lot of money on the table relative to Stack's, for example.
Publicity. Placement/visibility. Customer base. There are some things (not all) that will get way more money at stack's or heritage than GC.
Rather arrogant of you to think you know more than every coin dealer in the country on how to make money on coins. People don't consign to Heritage or Stack's because they don't know better. They do it because they do know better.
If it's all about the BP, everything should be on eBay or, even better, Instagram.
I think it's funny on how you switched it to selling coins when the topic was about buying coins
I'm not going to argue with you about where is the best place to BUY coins
If you prefer to buy from the big boys and pay the 20% BP that's fine
I prefer to buy from a 10% BP venue.
I never said anything about selling..................
Mike
My Indians
Danco Set
I never switched. You did. My response was too your comment that started "So when are consignors going to realize..." YOU mentioned consignors and that's what I responded to.
I've always been discussing both. But there's ZERO advantage to the buyer. The buyer pays the same no matter what the BP is: whatever they choose to bid. I've never paid one cent more at Heritage than I have at GC.
Yes,
My comment, So when are consigners going to realize..
That they will BID lower on the coin in a 20% BP auction then they would BID on a 10% auction Just so that the final price of the coin is the same, difference is the consignor would get less in the 20% auction vs the 10% auction
$1000 coin value
I would bid $835 in the 20% BP auction
I would be able to bid $909 in a 10% BP auction
So the consignor would get $74 more,
Just the way I do it
Mike
My Indians
Danco Set
I have bought and sold with GC quite a few times with nothing but praise for their speed with both funds delivery and coin delivery, but most of all I appreciate their customer service. When dealing with them on an issue it's as if they were friends. I have both sold holdered and raw coins with them. The raw coins were sent for grading and attribution, both a group of half cents and currently a group of 20 large cents. I no longer get concerned over time as no one seems quick these days. Although, my payment checks from GC have always arrived well before promised or expected. Ian has been personally approachable and gives a very good feeling towards a corporate image.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
I like to buy from GC when I can, but these days honestly It's really tough for me to buy anything at dealer levels. I can find more coins that fall through the cracks at HA or SB, GC seems to always be full retail anymore.
I love GC's 10% bp, and appreciate that the average consignor might net more there, but you never know what terms the consignor at another venue might have signed for. HA might be offering 107.5 % of hammer to a preferred consignor, so it might only be a 2.5% difference overall if the coin were to sell at the same total price on HA vs GC.
Also, the coins I seek are not easy to find, so wherever they show up is where I'll be bidding/offering. I like to support the sellers of my preference, but I will buy coins from dealers/auction houses I'm not fond of, as long as it makes sense to me.
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Of course, nothing is simple. I was just trying to generalize things. I have sold on Heritage and on GreatCollections. Certain coins I choose Heritage over GC even though GC charges less in fees. So I know what you are talking about. But just in general, lower fees means more money is kept by collectors, which is what we want. So GC charging less puts more pressure on Heritage and Stack's to charge less or at least not increase the price. I bet if GC didn't exist, we will already be seeing 25% BP on Heritage.
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I agree with this assessment.
Having fun while switching things up and focusing on a next level PCGS slabbed 1950+ type set, while still looking for great examples for the 7070.
I've bought nothing from Gc due to the terrible pics they've had on Jefferson nickels. After a 10+ year wait for the photography to improve, the new guy Phil has finally provided some decent pics on a few coins. I even updated my account there so I may possibly bid. Well, as a fact, I did place my first bid there the other day. To the guy who keeps shoving the light into Jefferson's face, wiping out all details and nicks there no-way I can work with that! Learn how to use an umbrella in your photography buddy, will ya!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Go to the GC home page. Extreme top right where it says : Home, My GC etc. Over to News and click. Next page, left side. Explains everything you need to know.
I have bought many wonderful coins from GC but agree with @DeplorableDan that it's hard to find bargains these days at GC. I have also consigned hundreds of coins to GC (including nearly 500 in process right now) and have been overall quite happy with the results. They also get your checks to you within 30 days after auction end, not months later like, ahem, some of the other major auction houses.
Kind regards,
George
It's harder to find bargains in US coins. Other categories...
Started dealing with them in January 2024.....had been out of coins for many years...started with ebay, stacks bowers and heritage...They are very good to deal with...return privilege on most auction items, ships usually same day, great pictures and nice people....Paul is top notch...also sold almost 100 lots....if you want retail for your coins this is not the place for you....if you like toned Morgan Dollars this is the place for you!! Highly Recommend Great Collections!
I've bought and sold on GC, they are fine.
INYNWHWeTrust-TexasNationals,ajaan,blu62vette
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How long does it usually take for GC to answer an email? I emailed them July 5 with a question and still no reply. I guess perhaps the holiday is the reason.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
I didn't check my calendar but I think July 6th and 7th might have been on a weekend, too.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I called ebay at 2:00 a.m. on Sunday and they answered (in Bangalore).
🙂
They definitely have customer support working on weekends since all of their auctions end on Sundays. I emailed them Saturday to inquire about raising my bid limit and they got back to me within an hour.
Although it would make sense that for anything not related to auctions ending that weekend they wait until the work week.
Sure I'm repeating posts since there are a lot in this thread but I really like GC both buying and selling.
Process to sell is simple and a super quick turnaround from mailing the coin to having check in hand compared to other auction houses.
Buying has super reasonable fees and shipping is lightning quick. Now with the quality pictures available it's even better as picture quality was always my one negative in the past.