Question about Teletrade: I just dont get it

Halfhunter06 · November 21, 2009 1:34PM

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Here is a coin for sale that "sold" just a couple weeks ago and its right back in another auction. Did it REALLY sell?

Unknown · November 21, 2009 1:38PM

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ColonialCoinUnion · November 21, 2009 1:42PM

Call them and ask.

DennisH · November 21, 2009 1:52PM

Do a search of past auction results and see if that coin comes up. If it doesn't, then it means it didn't meet the damn reserve that Teletrade never tells you is there to begin with. I've seen several coins come up for sale over and over and over and over and over and over and over and over and over and...

It's one of the reasons I no longer take Teletrade seriously as a source of coins.

Halfhunter06 · November 21, 2009 2:35PM

the coin up for auction is the EXACT one that "sold" in November 1st. This is not the first, nor the 10th time i have seen this happen for many coins.

leothelyon · November 21, 2009 3:51PM

While I find such practices difficult to explain, I do encourage all collectors to not get discouraged and continue their hunt for high quality coins, wherever that might be. Whether it be any of the larger venues including Teletrade, don't give up.

Leo

sinin1 · November 21, 2009 4:09PM

since it is the coin that is the price history,

the purchaser bought and returned (paying the return fee)

amd Teletrade listed it again

19Lyds · November 21, 2009 4:20PM

Teletrade has a 7 day return policy. The coin could have been returned.

BTW, I like Teletrade and respect Teletrade, but I don't like their minimum $8.00 buyers premium nor their 15% buyers premium but their selections are a good mix of moderns which suits me just fine.

wondercoin · November 21, 2009 4:48PM

That coin was consigned to me by an esteemed member of this board. It sold at auction and was returned. Why, I have no idea. My consignor is not even aware of it yet - last he knew, I advised him that his coin sold.

Nothing unusual here, other than Teletrade accepting returns no questions asked.

Wondercoin

Halfhunter06 · November 22, 2009 1:05AM

thanks wondercoin. The bad part to me is if the coin was returned, inferior quality is the first thing that comes to mind. I know that it may not be the case, but everyone here knows how i would feel about it.

BAJJERFAN · November 22, 2009 3:20AM

<< <i>the coin up for auction is the EXACT one that "sold" in November 1st. This is not the first, nor the 10th time i have seen this happen for many coins. >>

Per communication from Ian, if a coin is sold and returned it still shows up in the auction history as being sold at that price.

yellowkid · November 22, 2009 3:22AM

Coins are returned all the time at Teletrade, I'm sure that is what happened.

wondercoin · November 22, 2009 3:25AM

"Per communication from Ian, if a coin is sold and returned it still shows up in the auction history as being sold at that price."

I believe this is the automated practice, however, I suspect, Teletrade might be comfortable removing a particular price on a returned coin, especially where the price was out of line with established pricing.

Wondercoin

COALPORTER · November 22, 2009 4:10AM

It could be some dealer buys the coin and trys to resell it but can't, so they return it to TT ?

wondercoin · November 22, 2009 4:14AM

I am informed that Teletrade will not accept a return if the buyer publicly began marketing the coin for sale. Check with Ian on this one.

Wondercoin

Question about Teletrade: I just dont get it

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