Serious question about high dollar coins

[CSdot]

I was just looking at eBay and came across a few coins I liked, then noticed that they were listed by the same dealer. When I clicked on the dealer's other offerings, I noticed this dealer has millions of dollars worth of coins on eBay. A surprisingly large of these coins list for over $10,000*.

 

http://www.ebay.com/sch/m.html?item=360890246719&pt=Coins_US_Individual&hash=item5406bc263f&_ssn=u.s._coins&_sop=16

 

While I am happy to see that our hobby has this level of wealth and interest, I am shocked to see this high dollar participation in practice.

 

* side question. How many people buy $10,000 coins on eBay?

[bsshog40]

He is probably a major dealer and consignment dealer. He also has an address in Houston,Tx. for his office/shop. Doesn't look like a run of the mill seller.

[DaveG]

That's US Coins of Houston, TX, who, I understand, is a (very) major wholesale dealer.

 

I remember when I used to walk past their table at the Baltimore show (when I used to go to Baltimore before 2008); there never was anyone at their table, but they always had a seriously jaw-dropping inventory in their cases.

 

As I recall, they used to have a more impressive inventory display than Heritage, if you can believe it.

[jpcienkus]

I can't afford $10K coins, but if I could, I'm not sure whether I would be buying them without viewing them in hand.

 

If you look at many of this sellers gold pictures, the white balance or something is off. The gold looks almost lemon yellow.

[JPS-WI]

I have found that many dealers will have their inventory on eBay. The exposure is huge. Buyers can then contact the dealer outside of eBay and work out a deal.

 

[BillJones]

That's US Coins of Houston, TX, who, I understand, is a (very) major wholesale dealer.

 

I remember when I used to walk past their table at the Baltimore show (when I used to go to Baltimore before 2008); there never was anyone at their table, but they always had a seriously jaw-dropping inventory in their cases.

 

As I recall, they used to have a more impressive inventory display than Heritage, if you can believe it.

 

I have done business with US Coins a number of times. They are great people to work with, and gone out their way to please me.

[GoldFinger1969]

I have done business with US Coins a number of times. They are great people to work with, and gone out their way to please me.

 

How are their prices -- on Ebay and dealing with them direct -- compared to others you may have bought from (auctions, specialist dealers, local coin shops, etc.) ?

[BillJones]

I have done business with US Coins a number of times. They are great people to work with, and gone out their way to please me.

 

How are their prices -- on Ebay and dealing with them direct -- compared to others you may have bought from (auctions, specialist dealers, local coin shops, etc.) ?

 

They charge fair prices. I didn't do that much business with them when I was dealer, but as a collector I've found them to be quite competitive.

[GoldFinger1969]

They charge fair prices. I didn't do that much business with them when I was dealer, but as a collector I've found them to be quite competitive.

Are their Ebay prices pretty much what you'd get from them in-person or are they a bit higher overall ?

[BillJones]

They charge fair prices. I didn't do that much business with them when I was dealer, but as a collector I've found them to be quite competitive.

Are their Ebay prices pretty much what you'd get from them in-person or are they a bit higher overall ?

 

I can't speak to that. I have only dealt with them face to face at the shows. One time I bought an 1803 silver dollar in PCGS AU-53 from them that was in a holder that was scratched. They promised that if I bought it to them at the next major show that they would have the coin re-holdered at no charge. I brought it to the show and they had the work done at show at no charge to me. The cost was probably about $20 to have that done.

[GoldFinger1969]

Thanks Bill...seems like they're pretty reputable and fair if you vouch for them. (thumbs u

[MarkFeld]

Thanks Bill...seems like they're pretty reputable and fair if you vouch for them. (thumbs u

 

They are not pretty reputable - they are highly reputable.

[GoldFinger1969]

Thanks Bill...seems like they're pretty reputable and fair if you vouch for them. (thumbs u

They are not pretty reputable - they are highly reputable.

 

Noted..... (thumbs u (thumbs u

[Nutmeg Coin]

I've heard only good things about them, have had good business relations with them a while back at the Baltimore show. Ebay offers cheap advertising if you have coins in your inventory that people will scan as potentially desirable, on want lists, etc. You have to deal with the ebay tire-kickers and people who get a kick out of reporting non-issues to the ebay big mommy; but the coin show low-ballers are much worse.

[O mint bug]

I live in Houston, Tx. and do not know this guy. Does not mean he is dishonest. BUT before I bought any expensive coin I would want to see it in a well lite room while it was in my hand. Another thing to be very careful of is the asking price. I saw a could of coins I am familiar with (date and mint ) and they seemed to be priced pretty high.

 

Would I buy of a site like this, especially if I lived in another city highly unlikely. Photos can be deceiving. Until I roll the coin in a circular motion very slowly in a well lite room I would pass. I note the coins are graded but no two Au 50s are the exact same coin. Eye appeal, determined in person, is a prerequisite for a purchase if the price is right. PCGS has a price guide , which can be a bit high but it is a good place to start.

[JOHN HAYES]

I deal with them in person, in Houston, and they have always treated me well.