Is it me or are Tonight's (Sun 12/12) Teletrade Lincoln prices TOTALLY RIDICULOUS

RBinTex · December 12, 2004 9:32AM

Looks like ALMOST every single one is WAY overpriced from the start with almost none advancing since the opening of bidding. Someone's surely on crack if they think prices have gotten to THOSE levels YET.

segoja · December 12, 2004 9:38AM

You'll know at the end of the night. Buybacks disappear off the tracking lists.

RGL · December 12, 2004 9:43AM

I expect it is the same on the Jeff proofs ... 1957 and 1961 PR-67s at $50 each? C'mon...

haletj · December 12, 2004 9:45AM

Almost everything is just the inventory of Washington Rare Coin Center priced at his normal retail prices. I doubt much will sell.

SUPERCARCOINS · December 12, 2004 9:46AM

I see Franklins bid up to sky high levels - something is fishy or else the coin market is exploding !!

braddick · December 12, 2004 9:53AM

You know it's a scam when this $10. Lincoln is 'bid' up to almost $300.00!

In fact, here's the same grade coin sold on Teletrade at less than $10.

And, if you believe it's because the first Lincoln is PCGS and the second one NGC... even the NGC Lincoln (same date, same mint, same grade!) is almost $200.00!!

So why does a $5. to $10. coin garner "bids" of near $200. to $300. without the auction even being over yet?!

braddick · December 12, 2004 9:56AM

On a somewhat unrelated note, why does Teletrade show the price of the NGC coin that closed in Sept. with the PCGS coin but the now running NGC coin has NO price history/data showing the Sept. auction of the NGC coin? Same year, mint, and grade. Is it because Teletrade doesn't want you bidding on a coin that is currently at $200. that closed at $6. three months ago?

haletj · December 12, 2004 10:04AM

Yeah, some dealer's try to charge that for these coins at shows where people don't know what they're worth or don't know they can be had on ebay for multiples less. And the pcgs price guide helps these guys by leaving in inflated prices. I wonder how many people who think they are doing the right thing by never buying a coin "sight unseen" from the internet, only buy at shows, and get ripped off with stuff like this.

jacktheknife · December 12, 2004 10:07AM

I agree. I made a 10 minute look through the sale tonight and logged off without placing a bid. Someone is going to be left holding a lot of Lincolns.

Jack

VamCollector · December 12, 2004 10:23AM

I doubt those are the "opening" prices from Teletrade but instead are the reserve bids from the seller. Teletrade will charge them a buyback fee for that. Yikes....unbelivable price on the 69-S.

sonofagunk · December 12, 2004 10:38AM

Just cancelled my account with them giving this sale as the reason.

rainbowroosie · December 12, 2004 10:42AM

There are nine 1909 VDB in 66 red -- all are bid at $280...figure the odds of this occuring?????????????

roadrunner · December 12, 2004 11:03AM

Well if Washington Rare Coin doesn't own the coins (I didn't know they were involved too), then Spectrum, NACT or other subsidiaries own the coins. I was bidding on an NGC MS67 1869 half dime on Wednesday and no one else was bidding. I put in a last bid around 9:30 expecting to get the coin and use a 10% discount certificate to boot. I shouldn't have been surprised when it was bid higher at the end. But as a rule the pricing on Teletrade sales is like a musical. The bidding is wonderfully choregraphed to force you to hit the "right" bid or higher. Reserves are typically stiff.

roadrunner

Bikingnut · December 12, 2004 11:05AM

Some of the Washingtons seem to be way out in left field too. The 40P in MS65 is currently at $90. Makes me feel good about the one I got about a month ago for half that.

Russ · December 12, 2004 11:29AM

Many of the half dollar prices are also whacked.

Russ, NCNE

orie · December 12, 2004 11:33AM

Silver Dollar 1976S Silver PCGS 68. This coin is at $625, that's $700 including commission. This coin is down to the high three hundreds.
I've noticed over the last 3 months only about 35% of their modern commems have sold.

foodude · December 12, 2004 11:48AM

Last call for bidding, the auction closes in about 10 minutes

RBinTex · December 12, 2004 11:56AM

Tassa · December 12, 2004 11:58AM

Verrrry in-ter-esting....

foodude · December 12, 2004 12:05PM

Oops I got distracted and didn't get a chance to get a snipe in, darn

We were bidding in Yen on this one right

wondercoin · December 12, 2004 12:13PM

"Silver Dollar 1976S Silver PCGS 68. This coin is at $625, that's $700 including commission. This coin is down to the high three hundreds."

I assisted a collector with placing his high ranking MS Ike collection in this Sunday sale. Overall, the set did pretty nicely for the collector, including the sale of the lowest pop coin in the collection - the 1976(p) Ike in PCGS-MS67. While the price on his 76(s) Ike in MS68 was a bit of a surprise to me (and it did sell) in light of the fact that I sell that date in that grade on ebay right now at $439.95, the coin was an older holdered PCGS specimen and a nice original specimen as well.

Also, I think the PCGS-PR70DCAM coins did very well in the sale - many coins receiving multiple bids and a great many selling.

I did not follow the Lincolns, but later tonight we all can see just how many were actually bought back.

Wondercoin

IrishMike · December 12, 2004 12:22PM

Prices on many coins on Teletrade have been out of whack for 5 or 6 months. I've seen many not get sold, many not so nice for the grade go for ridiculous prices. Some of the registry coins are just trying to be sold for unrealistic prices. It's been many months since I have even bid there.

wondercoin · December 12, 2004 12:42PM

"Come on Mitch let's be objective here this is plain ol bullsh!t"

Craig: What do you mean? Again, I have no idea who consigned all the Wheat Lincolns or silver Wash quarters for that matter (I had a total of -1- coin in the auction in those 2 categories). But, as I mentioned, I believe the Ikes did fine and the PR70's did fine as well. Indeed, I sold more than half the lots consigned on behalf of my consignors tonight and grossed more money for my consignors tonight than ANY TT auction I have consigned to this entire year.

Craig - If you think my posts on this thread as "BS" - I would be happy to place the conference call WITH YOU ON THE PHONE tomorrow to Paul Song at TT who will confirm exactly what I have written. I try to be very objective on my posts and, again, just call me tomorrow morning and we can patch in TT together. I have no reason to BS you. My consignments did very well in the sale tonight with the majority of coins selling through. Once again, I can't speak for the wheat cent sellers

Wondercoin

MassFullStepper · December 12, 2004 12:54PM

From my standpoint, I picked smoething up on TT tonite for a lower bid, same date/grade, that I got outbid on two weeks ago on Ebay...and with the free shipping, saved me a few more bucks..AND it was less than my max bid, which NEVER happens...so all in all, a good nite for me...

edited to add: and the lot on TT, in comparison to the listing pics of the ebay auction, looked to be a better looking coin...though I know that TT's photography can, will and DOES cover up, so I'll have a better glimpse upon receipt of it

wondercoin · December 12, 2004 12:59PM

I just sent you a PM with personal information on the sale tonight I know you will keep confidential.

I am concerned though that collectors like yourself are so PO'ed with TT. I have also sent Paul Song an email tonight and perhaps something constructive can come out of all this.

Wondercoin.

foodude · December 12, 2004 1:06PM

Prices Realized for tonight's TT auction are starting to come through- i.e., the prices realized are are begining to replace the "pending" designation.

Android · December 12, 2004 2:21PM

A 1969-S Lincoln in MS64 realized $300!

Tonekiller · December 12, 2004 2:22PM

<< <i>I just sent you a PM with personal information on the sale tonight I know you will keep confidential.

I am concerned though that collectors like yourself are so PO'ed with TT. I have also sent Paul Song an email tonight and perhaps something constructive can come out of all this.

Wondercoin. >>

I would have to agree with Mitch. TT has always been easy to work with, both buying and selling. Give Paul or Irma a call and I think most issues can be worked out.

.....but then I do live in my own world.

TBT

centmaster · December 12, 2004 2:31PM

The results are in. Only 15 Lincolns from 09-58 sold (mostly cheaper ones) out of almost 225! One weird one, the 34P in 64, brought $39. I don't fault Teletrade here. Teletrade only opens the coins at the price entered by the seller (if they enter a minimum.) Whoever the seller was is out a lot of money tonight in buyback fees, probably around $10,000. Of course the seller can ask anything he wants for his coins, but if the seller is reading this, know that I would have bid on quite a few Lincolns tonight and paid more than CU price list and way more than greysheet, but I saw the opening bids and ran far, far away!

Coppernicus · December 12, 2004 4:27PM

Obviously, you neophytes don't know your Lincolns! Don't you know that you can NEVER overpay for a Lincoln? C'mon - wake up!!!!

Mike

sonofagunk · December 12, 2004 10:27PM

I DO blame teletrade. At some point you have to turn down listings or you lose clients. To me, teletrade is no better the "Washington Rare Coin" or "the coin vault"

RBinTex · December 13, 2004 12:46AM

VERY well said Paul.

centmaster · December 13, 2004 12:50AM

<< <i>I bet alot of those coins came internally and therefore buy back fees wont matter. I do fault TT, they dont have to accept the reserve

if it is stupid and will adversely affect their credibility. >>

You're right! I didn't think of the coins being their own as a possibility.

LouisCamp · December 13, 2004 2:52AM

Maybe this is how they can afford free shipping this month.

Lou

BigE · December 13, 2004 4:14AM

Maybe the consignor of all of those lincolns arranged to have zero buy-back fees as part of the deal------------------BigE

cupronik · December 14, 2004 1:29AM

I intended to keep an eye on this auction but didn't. I'm curious to
know what the reserves were for 71-P & 76-P T-1 Ikes (both in PCGS
MS-66)?

Cupronik

Proofquarter · December 14, 2004 1:54AM

Thanks for not bidding Monday night. I picked up 2 coins I wanted at great prices.

Is it me or are Tonight's (Sun 12/12) Teletrade Lincoln prices TOTALLY RIDICULOUS

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