Heritage Auctions Has Become The Dump

Yes, Mike, there are tons of problem coins out there. In fact, I used to collect them as a subtype. (If you can't beat 'em, join 'em.) But that was years ago, so I haven't noticed any big uptick in this, just about the same- at least for the series I follow. Maybe, the stuff you follow has had an increase in junk offerings lately.

One thing I'd say in HA's defense is that they are strictly above-board. The problem coins offered are meticulously photographed and are in holders that spell out the trouble. Also, prices are usually in line with the issues. This is unlike ebay where it's like the wild West, with coins routinely cracked out of problem holders and sold as straight-grades.

I've a separate bone to pick with HA, though. Last year, they upped their commission to 20%, as the regulars know, and, this year, they're forcing me to pay sales tax, besides. It's really putting me at a disadvantage in bidding because I have to keep adding 7% to my tally.

#1 - Heritage, #2 - Great Collections, #3 - Stacks, Bowers.

If you can't find enough great coins at those three top rated auction houses, you must be seriously rich.

Or your want list is too small. One of the two.

Huge number of gorgeous coins in addition to not-so-nice crud.

Prices are significantly stronger the last 16-18 months on key type.

Some specific coins have doubled in the last year.

Heritage, the company you mention, has the best customer service of ANY company I've ever worked with. Not just in coins but for ANY company type.

Three minor problems were taken care of by the person who answered the phone in one minute, ALWAYS in the customers favor.

They no longer require payment from me before shipping. They ship my order first day possible, even if the invoice isn't paid.

I only WISH Mediacom was a tenth as good as Heritage.

Some of that is their picture style, but some of it is that they can get those cheap to sell. There's a bigger dumping ground than them in the true sense of the word, but that type of material is also the most likely to end up getting sold a lot instead of staying in a collection.




Exactly this. The best stuff is getting tucked away for long periods. A lot of the old "keys" have been exposed and more collectors just get what they want and date sets seem to be fading out some.

Or #3, your too dam picky.

But seriously though, I have seen a decline in quality that is Heritage-specific. Have you seen the selection of coins for the upcoming dallas show? Now, they cut out sunday night auctions and combined them with Tuesday weekly auctions and it's the same deal with those. Nothing but junk for the series I follow.

You used to be able to find a few stunners at least once a week. No more.

It's not. Unless the higher fees are steering higher end coins elsewhere. I have noticed a considerable difference in the last four months and I watch all auction sites like a hawk.

I haven't noticed this. I really only focus on Canadian George V and VI silver and have scanned through every Heritage world coin auction pretty religiously for the last 5-10 years. So since this is posted in US Classic I wonder if it's just specific categories. Sure, there's always a few MS64s that look more like 62, but that's the TPG's fault not the auction house. My thought is that the economy has been pretty good for a few years now and maybe the general US trend is that collectors have upgraded and are dumping their less desirable coins.

I don't think things at Heritage are any worse than other auction sites. There's a lot of poorly struck and marginal coins on the market right now nearly everywhere I look. Even if prices aren't going down, the perception that is happening will keep sellers on the sideline and reduce the overall quality that's on the market. Except for the upper end, which most collectors cant touch, prices have been flat for quite a while- at least as long as I've been collecting again (3 years or so).

What's actually more frustrating is setting an alarm for midnight so you can be up for the silver dollars on Heritage's Tuesday auctions. Same number of coins as the old Sun Tues auctions packed in one night? Not working for me anymore.

According to those who were actively collecting coins on this forum during the period, the last recession was a great boom for the coin market due to high precious metal prices.

We haven't seen the follow through into metals yet, but with light sweet crude trending higher and the yield curve flattening, I suspect it's only a matter of time before the metals start another run.
We've been hooked on cheap money for way to long. It's been that way since 2001 when balloon-head Greenspan caved to prop up equity prices following the stock bubble.
Watch for the yield curve to invert over the next 6 months as we head into the next recession. Metals and commodities will rally once the realization sets in that our markets can no longer function on their own without the printing press and low interest rates.
I'm betting the fed will only raise rates 3 more times.

Metals have put in a sustainable bottom and the way I see it, the next most likely direction is up.