Raw - Site unseen B&M auction Lot

marmac · December 1, 2003 10:58AM

I have a dilema and a question-
I am interested in one or more lots in the upcoming B&M auction.These are multiple coin lots and raw.
So no pictures available,these are by no means break the bank pieces(or they would have a picture) but at the same time these lots will probably go for over a thousand....
I see many people bidding on similar lots raw/no pic , are they just rolling the dice?
I have read past posts on the boards that if I recall correctly gave the impression that B&M grades
conservatively or at least accurately.Is this the case?
Are there other avenues I can take to get more info,first hand opinions reguarding these lots
before blindly placing an internet bid?

Any ideas would be appreciated............

wingedliberty · December 1, 2003 11:01AM

Sound math: ( raw coins+sightunseen)= transaction negative.

cointagious · December 1, 2003 11:24AM

call and ask for an appraisal of the coin(s) you're interested in or contract with a collector/dealer you trust to view the coin(s) for you. please don't bid blindly! B&M isn't into full disclosure in their auction descriptions anymore than any other seller.

kranky · December 1, 2003 11:26AM

I wouldn't bid on it without some idea of what you might be getting, no matter what someone's reputation might be.

Bidders might have asked someone they know at B&M to describe the lot to them over the phone. Or, they asked someone they trust who went to the lot viewing to review the lot for them.

There are dealers who will represent you at the auction for a fee and they will inspect the lots in person and discuss it with you beforehand.

marmac · December 1, 2003 11:58AM

Thanks for the opinions/ideas.I wasnt planning on bidding blindly.
I think I will call them and see if they give me the time of day or not.
Ideally finding someone to "represent me" is ideal but at the same time there is a trust factor there as well as with dealing directly with B & M.
As for knowing someone who will be there, I doubt it, I do not travel in those circles.I typically have aqcuired my collection thru Sacramento coin shops, Ebay snipes, David Lawrence,Heritage(less and less now...) Teletrade less and less these days as well.
Maybe I just have to take a deep breath and sit this one out........

RYK · December 1, 2003 12:10PM

I had one experience in the area with B&M. I called them and had one of their numismatists discuss about a half dozen raw lots with me. I ended up bidding on three of them and winning one. I was fully satisfied with the transaction and would do it again if a similar opportunity should arise.

MSD61 · December 1, 2003 12:12PM

<< <i>Sound math: ( raw coins+sightunseen)= transaction negative. >>

I agree....I've made that mistake already

wayneme · December 1, 2003 12:16PM

ryk
were you their or bid over the phone

MJPHELAN · December 1, 2003 12:22PM

I bought one raw lincoln from B & M several years ago (before QDB's departure). They described it over the phone as MS-65 red. That is what it graded at PCGS when I sent it in. I was very satisfied. They also had a good return policy.

Mark

RYK · December 1, 2003 12:30PM

Wayneme,

I bid over internet.

darktone · December 1, 2003 12:36PM

I bid on that lot of three $10 libs all graded MS62 by B&M this summer. I had them graded by NGC- MS61,MS62,MS63. I was satisfied. But if I were you I would call or email for a detailed description. mike

DMWJR · December 1, 2003 12:37PM

At least historically, B&M would be in the top 5% of companies I would buy blind from, but if you were going to buy $1k worth of coins or more, I would find a competent dealer or collector who is going to be at the auction who could give you a solid opinion on the coins. Why take a risk that could sour your feelings about coin collecting?

marmac · December 1, 2003 12:52PM

Okay so far only positive posts from past bidders on raw coins from B/M.
What the general opinion seems to be is to find a Dealer/collector who will be there AND is trustworthy and honest and is looking out for my best interests.
Well anyone have any recomendations for such a person?

Thanks for all the posts..........I learn more here everyday.........

Trime · December 1, 2003 3:41PM

Marmac,
Never bid on a raw coin at auction without either you or your trusted agent seeing it. Period!
Forget every thing else; remember: Not!

Barry · December 1, 2003 9:36PM

Don't do it! I got burned to the tune of a few thousand dollars on a raw coin from a B&M auction that turned out to be a problem coin. They did offer to re-auction it at no charge, and described the coin the exact same way, not mentioning the problems!

nwcs · December 1, 2003 9:40PM

Call them and ask them to describe the coin.

dorkkarl · December 1, 2003 9:56PM

the rule is incredibly simple:

DO NOT BUY COINS SIGHT-UNSEEN. PERIOD

K S

dorkkarl · December 1, 2003 9:57PM

the rule is incredibly simple:

DO NOT BUY COINS SIGHT-UNSEEN. PERIOD

K S

DMWJR · December 1, 2003 11:11PM

Marmac, if you would turn your PM on, I would be glad to make a couple of suggestions from people I have used before.

marmac · December 1, 2003 11:59PM

Thank you everyone for your thoughts.Thanks for the offer white fang.
I think I will sit this one out and just be patient.I think patience is the key and I have to keep telling myself that.I am a commercial fisherman by trade -I typically work Jan-Mar,off april-June,work July -Oct,
off Nov-Dec.This type of work schedule though I love it, tends to make me increase the speed at which I acquire my collection,if that makes sense.I would imagine the average collector purchases items thru out the year at a moderated pace.I on the other hand purchase (or attempt to purchase) during my time at home which amounts to about 6-7 months a year.This can be frustrating ,It can sometimes creat an atmosphere of urgency to acomplish so much during my time at home, I have quite a bit of stuff to send out for grading /regrade/crossover.... but at 40 days turnaround I have to time it just right in order to have it processed during my vacation .
My schedule allows me 2 shows a year- Santa Clara in the fall and Sacramento show in the fall.
I think I will just continue to snag stuff from ebay and a few other places and wait for the right time
and possibly plan a vacation to attend one of those big auctions like B&M in person.

Anyway the lots i was interested in -#2210,2328

Thanks to all

sinin1 · December 2, 2003 2:15AM

lot 2328 should be pictured 1901-S - I got it from catalog CD

the 5 coin MS63 lot, does it have alot of downside?

darktone · December 2, 2003 9:05AM

Marmac, go ahead and call B&M. It's worth a few minutes of your time to get nice coins- just think in a couple of weeks you could be looking at them in person. mike

Raw - Site unseen B&M auction Lot

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Raw - Site unseen B&amp;M auction Lot

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Raw - Site unseen B&M auction Lot