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 Replies: 16 / Views: 5,335 |
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Pillar of the Community
United States
974 Posts |
I was surfing around the internet tonight and discovered an auction site called Proxibid. Apparently tomorrow there is going to be a live auction via internet for items left over in safe deposit boxes at a bank called First Tennessee. Looks like there are several lots with coins of all types. Just thought I'd share for anyone would have interest in such a thing. http://www.proxibid.com/asp/Catalog.asp?aid=7485Oh and there is another auction called CoinFixation on the Homepage...no bids,  maybe we can cherry pick it since there is a lot less competition than on ebay LOL  Edited by Nelrak
06/29/2007 01:22 am
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Moderator
 United States
6563 Posts |
Memphis! HAHA
The auction takes place about 30 miles from my house. Not sure if I'm gonna go. I doubt I'll get any good deals.
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Rest in Peace
United States
2668 Posts |
Thanks for the post, interesting.
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Pillar of the Community
United States
2443 Posts |
Nelrak, thanks for the site! Signing up right now...
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Rest in Peace
United States
2884 Posts |
Thanks for the info. I signed up and placed about 5 or 6 bids in two separate auctions. The upsides are they list past auctions and future auctions. You can search completed auctions just like on Heritage to help in comparison bidding. You can also be on "live" during the auction if you want to bid live. I bid on a few guns(another auction listed) as well as the coin lots. I will let you know how I made out after the auctions close tomorrow. The downsides are the steep (17%) buyers fee and some poor photo's. The descriptions can be a bit vague and I see no real logic in the way some of the lots are put together. I adjust my bids to figure the buyers fee and the risks(poor photo's and descriptions) in my offers to the best of my ability.  Mike |
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Pillar of the Community
United States
2443 Posts |
I placed bids on three coin auctions. I agree with Mike, bad photos, vague descriptions(almost all auctions except for maybe 1 list no mint marks) and the 17% buyers fee :( . I'll keep you guys posted and tell you how I did (or didn't do). |
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Valued Member
United States
376 Posts |
Whoever listed the items sure doesn't know about coins. "2 DOLLAR RED SEAL BILL 2 DOLLAR BILL; 60 1964 Kennedy half dollars; 20 1966 Kennedy half dollars; 150 Mercury dimes; $10 QUARTER ROLL; 50 EISENHOWER DIMES; $4 IN Jefferson nickels; $2 IN LINCOLN PENNIES" I want to bid on the 50 eisenhower dimes  I am sure I do not have any of those in my collection. madspec |
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Rest in Peace
United States
2884 Posts |
Hey madspec,I want some of those extremely rare Eisenhower dimes!  I also noticed something peculiar. This is I assume contents unclaimed in safe deposit boxes at a bank. If so it seems that an inordinate amount of people in Tennessee saved Red Seal currency in safe deposit boxes! Maybe it was a post depression thing? Mike  |
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Pillar of the Community
 United States
974 Posts |
It appears the buyer's premuim is different per auction. I joined one where it was 10% BP. If I had the loot I would be interested in the 240 rolls of wheaties, especially with the thought of them having some goodies after being hoarded back in the 50's (I know I am dreaming) LOL
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Valued Member
United States
280 Posts |
Is it me, or are some of those auctions going for unusually high prices for what's being offered.
One of the ones I was looking at, the description stated "14K WHITE GOLD RING; ASSORT FOREIGN COINS; ASSORT JEWELRY", yet the picture showed almost all american coins.
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Moderator
 United States
23522 Posts |
Don't expect much - there are a large number of numismatists using Proxibid. Some are sharp enough to know when to outbid you, and others are dumb enough to outbid you anyways. I watch almost every weekend and evening Proxibid coin auction, live. In six months, I've only won one lot. |
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Valued Member
United States
429 Posts |
I was searching Illinois and found this: Check out http://ibid.illinois.gov for our online auction. Live web cast auctions broadcast on http://www.proxibid.com.This was on the Central Management Services of Illinois web site. Looks like lots of computers, cars, cameras, and other stuff. Didn't see any coins on the pics for todays auction. LeAnn |
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Bedrock of the Community
United States
20753 Posts |
Posted - Today : 2:35:37 PM -------------------------------------------------------------------------------- I was searching Illinois and found this: Check out http://ibid.illinois.gov for our online auction. Live web cast auctions broadcast on http://www.proxibid.com.This was on the Central Management Services of Illinois web site. Looks like lots of computers, cars, cameras, and other stuff. Didn't see any coins on the pics for todays auction. LeAnn If your from Illinois you should know better than to believe just about anything from our government. Most safe deposit boxes that are abandoned are opened and most of this vanishes in the system somewhere. At the state building a few times a year there are actions of items from robberies, abandoned safe boxes, abandoned self storage units, etc. They show it on TV and if you work in the downtown area and are the first one in the door you'll notice anything of value is no longer there. GEE was there a silent auction? |
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Rest in Peace
United States
2884 Posts |
The Tennessee auction is one of literally hundreds managed by proxibid. I "watched" listened to most of the auction today. I bid on eight lots and won two. The floor bidders are at a distinct advantage in that they can examine the lots in person vs e-bidders looking at horrible pictures and poor descriptions. One good thing happened today. I put in a bid for a California Half Dollar gold coin. I was ticked when the coin went to a floor bidder for pennies. My bid was ignored. I called proxibid and they explained that the coin was a replica and since it was not stated no bids were accepted on the coin and it was sold as a "floor bid only" copy! I did note that many of the larger bulk rolls of silver and Lincolns went for far more than I would have been willing to pay. Again, I assume the floor bidders are seeing something I could not see. I registered for five upcoming coin and currency only auctions.(I will still"shop" other general auctions in hopes of catching a deal) The buyers premiums are between 10-15%. As Dave pointed out it is obvious by the number of lots pre-bid on by the same "person" that they are dealers scarfing most of these auctions I use the same ground rules on these auctions as I do on any other auctions I bid on. I research prices, set a max bid and hope for the best. I won a 1928 Indian Q/E, a couple of Red Seal notes, an 1899 Morgan, a Fractional note and some misc. junk included with the lots. I will re-post when I get the stuff and let you know how things look. I also bid on a few firearms on an auction that starts in about an hour. Much better pictures and descriptions on this one! The same goes for the next 5 coin auctions I registered for. I really don't like bidding on auctions with such awful photo's and poor descriptions. How did anyone else do, if in fact anyone else signed up and bid? Mike |
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Valued Member
United States
264 Posts |
I missed the TN auction but just signed up for future auctions. If nothing else will give me a chance to see if any auctions are local that I can drive to.
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Pillar of the Community
United States
2443 Posts |
I put a bid on a few items, but I lost all of the auctions. I don't think there really were any good deals because once you factor in the 17.5% auction fee, you can find some of the stuff for the same price or even cheaper on ebay. The good thing with the site is like what Mike said, that the people who are actually able to see the items in person can get some deals, since the pictures and descriptions are bad. |
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Replies: 16 / Views: 5,335 |
Posted 06/29/2007 02:04 am
