1956 Franklin - something fishy?

[physics-fan3.14]

Is there something fishy going on here? This coin is for sale on Ebay, but its also being auctioned on Teletrade tonight at the same time.

 

Ebay Auction

 

Teletrade auction

 

While we're on the subject, what on earth is up with the prices? $467 for a 1956 in 66FBL? I paid $150 for mine on TT in December, and mine is much nicer than this one. Coin Values magazine also had an inexplicable jump in price for this in 66FBL recently - from around $200 to now its listed at $800! And this was in the space of a month or so! PCGS price guide still lists a much more reasonable value.

[Schatzy]

The only thing I can think is the seller of eBay submitted the coin to Teletrade and he was a buy-back on the teletrade coin.

 

 

edit: I reported it to eBay, either way he is stealing pictures.

 

[physics-fan3.14]

He can't be a buy-back yet - the TT auction doesn't end until 10 tonight!

[Schatzy]

He can't be a buy-back yet - the TT auction doesn't end until 10 tonight!

 

This is what I meant, I think he is bidding on his own coin.

 

Consignors are permitted to bid on their own coins, but they must do so by placing Buyback bids no later than one hour before the auction begins (see "Maximum Bidding" instructions on how to enter Buyback Bids). Consignors will be charged a flat 5% fee (minimum $5) on their full Buyback bid on any lots bought back in this manner. The maximum fee for any Buyback lot is $100.

[Schatzy]

I told the seller that I reported him to eBay.

 

This is what he emailed me back.

This is our coin it may be purchased here subject to prior sale as per listing! or it may be purchased on teletrade!

 

[physics-fan3.14]

Well, Ebay removed the listing and it didn't sell on TT.

 

When a coin is sold on Teletrade, doesn't that mean that Teletrade has physical possession of it at their office?

[Schatzy]

When a coin is sold on Teletrade, doesn't that mean that Teletrade has physical possession of it at their office?

 

Yes, I think the seller was just being fishy with the whole thing.