Buried in a coin??

[BAJJERFAN]

I'm not sure I understand this correctly, but if I lost a coin to the owner of it and was contacted after the auction asking if I was interested in still buying it, I would be pissed off! I would not be happy with the fact the owner was running up the price, that is what reserves are for.

 

I guess in this case the owner would be the winning bidder, no? I have over the years won a coin or 2 that I wish I hadn't won [haven't we all?] If it was possible, I'd be willing to sell my remorser, to the second highest bidder for his bid amount plus shipping. You aren't understanding it correctly. In the situations I have proposed you would have 2 legit bidders.

[BAJJERFAN]

I was hoping that they'd simply give the contact info for the second highest bidder [with their permission of course]. Frankly, I wouldn't be interested in paying an additional 10%+ for the privilege. I'm guessing the fact that Heritage instituted the "make an offer" feature, tells me they aren't interested in helping out unless there is something more in it for them.

 

This would open up a huge can of worms regarding security and financial privacy concerns. Moreover, I don't think many people would consent. It is a potential safety issue IMO.

 

I've never used the make an offer feature from Heritage, but do you send the coin back to them or do they just take their cut and tell you where to send the coin?

[Curry]

When i first started collecting slabbed coins, and i look back i been ripped off badly by many popular dealers. I feel being buried is like not being able to make the money back with a little profit. Or not being able to sell it since u paid a lot.

[newprepper]

I meant I would be mad if the seller of the coin won his own coin trying to bid it up and then ended up winning it and offered it to me for my highest bid.

[jpcienkus]

Being buried in a coin simply means that you will NEVER recover your initial buy price regardless of how long "you" wait. 20 generations down the road might get it out of the hole but then that doesn't really count since they weren't the one's that bought the thing.

 

This is also how I would define being burried in a coin.

 

As for the opportunity cost of the time spent looking for a coin to buy, well to me that is part of the fun of the hobby. I understand it being a cost if you're looking to "flip" a coin, but that's not what I'm doing.

 

 

[BAJJERFAN]

I meant I would be mad if the seller of the coin won his own coin trying to bid it up and then ended up winning it and offered it to me for my highest bid.

 

Understood.

[coinman_23885]

I was hoping that they'd simply give the contact info for the second highest bidder [with their permission of course]. Frankly, I wouldn't be interested in paying an additional 10%+ for the privilege. I'm guessing the fact that Heritage instituted the "make an offer" feature, tells me they aren't interested in helping out unless there is something more in it for them.

 

This would open up a huge can of worms regarding security and financial privacy concerns. Moreover, I don't think many people would consent. It is a potential safety issue IMO.

 

I've never used the make an offer feature from Heritage, but do you send the coin back to them or do they just take their cut and tell you where to send the coin?

 

I don't believe I have ever sold a piece through the feature, but I do not believe that Heritage would share the information necessary to execute a transfer through the suggested method. Maybe Mr. Feld will know since he is now at Heritage.