Opinion regarding Teletrade

[JIM F.]

I have only bought coins from Teletrade, and all in all have had a good experience.

I am seriously considering selling coins via Teletrade in the near future.

 

The BST boards here and ATS don't seem to really work, and a recent sale ATS ended up with the buyer just flaking out -- along with previous flake-outs on both boards.

 

....no excuses of "my wife...." Geez!

 

Coins I would consider selling include:

NGC/PCGS PF-CAM Franklin Halves

NGC/PCGS Trade Dollars

NGC/PCGS $2.50 Indian Gold

NGC/PCGS Classic commems.

 

1938-D Buffaloes- raw to be submitted via Teletrade (likely MS--66 or better).

 

 

 

Opinions?

 

Thank You.

 

 

[James_OldeTowne]

Those sound like the kind of coins that often end up on TeleTrade, but based on my most recent successful and happy purchases, GreatCollections sounds like something you should look into.

[Keigwin]

I like Ian and GreatCollections. I think they really try hard and I want them to succeed.

 

However, I have been pretty disappointed with all the problem coins in the series I collect.

 

For example, in the most recent auction I looked at, for Capped Bust Halves, 62 were offered. 57 were in genuine holders.

Lance.

[coinman_23885]

I like Ian and GreatCollections. I think they really try hard and I want them to succeed.

 

However, I have been pretty disappointed with all the problem coins in the series I collect.

 

For example, in the most recent auction I looked at, for Capped Bust Halves, 62 were offered. 57 were in genuine holders.

Lance.

 

That's not their fault; they cannot help what is consigned to them. As a relatively new auction house, I wouldn't turn away any consignments.

 

P.S. I collect Capped Bust Half Dollars too.

[delta]

Teletrade is certainly seller friendly in several ways, but before consigning any particular piece, I suggest you look through their archives, and see how that kind of coin did in the recent past.

[123cents]

There are many dealers that take coins on consignment such as D. Osburn.

[coinman_23885]

Shane (Kryptonitecomics) does a good job with consignments through eBay. You may want to consider him. I haven't been disappointed with him.

[rons]

My experiences with Great Collections have been very positive. I would strongly recommend them over teletrade. You might list your coins here in groups and if/when they don't sell send a group to Great Collections and the next group to teletrade and see if you can determine which is a better place for sellers. And then, pass your learnings on to the rest of us:)

[e1cnr]

I have liked Teletrade and used them for the last 10 years. They made some big changes on the first of the year. They dropped to 1 auction per week.

 

1- They seem to be trying to get away from the high reserve coins that they have had for the last couple years, and trying to get consigners to have lower starts (or allow Teletrade to place a low start - 60% estimated selling price) so they actually sell more items. The first few on the 1/wk still had roughly 30% sellthrough rate, but the last couple were closer to 40% selling, so this seems to be working.

 

2- They are trying to up the lowest valued coins. I have submitted raw like you want to do, and had a couple of groups in the process during their change. I called and asked about what they want for minimum value - the person I talked to said their goal is $75. I mentioned that the Jeffersons I submit can vary widely with a couple points and FS designation. They said that if they get a bunch of really low valued coins back, they may just return to consigner without runnning in auction.

 

3- Time for settlement - when you submit raw, they get them, approve them (new I guess, some may not merit submitting to TPG), send to get grading, return to them, list in auction, sell, pay consigner. This can be depend largely on grading service time. A couple years ago, I had a group that took 6 months to get back from NGC from when I sent to TT. PCGS has been backlogged last couple months. I sent a group to TT on 11/21 that are just in this weeks auction.

After auction closes, 2-3 weeks to check. If anybody returns coin, they discount your balance and resell/returm to you.

 

4- Prices? Some things sell high, some low. Depends on who is bidding that day. I have seen low prices on ocassional items at TT, eBay, Heritage. I also frequently see items that just closed at one of those venues, resell quickly on another.

 

5- Submission costs to consigner. You can't beat their prices without being a authorized dealer. The variety service can't be beat.

 

6-Multiples of same thing - usually do not do so well. I am not aure I would want to send in 10-20 1938-D Buffalo nickels at the same time.

 

TT wants at least $1K for consignment, and still recommend them, although eBay has good quick sell through as well.