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Who Owns The Coin When Offered By Several Dealers?

 
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Author Previous TopicReplies: 10 / Views: 621Next Topic  
Pillar of the Community

United States
3521 Posts
 Posted 06/06/2020  6:51 pm Show Profile   Bookmark this topic Add jimbucks to your friends list Get a Link to this Message
Recently I've come across several coins on Heritage in the buy it now/make offer category. Several major coin dealers have the same coins on their websites identified by the TPG registration numbers. Apparently dealers are marketing coins they don't own in order to make money without having the items in their own inventory. Is there any way to know who is the actual owner rather than go through a middle man?
Pillar of the Community
Canada
2905 Posts
 Posted 06/06/2020  7:05 pm  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
i don't think there is, it's kinda of like selling your house through 3 agents, whoever sells it first makes the commission,

So for selling a coin sorta the same thing, you tell the 3 big seller's what you have , and they all market/promote it, the first one to sell at the approved price, makes the commission..
Valued Member
United States
378 Posts
 Posted 06/06/2020  7:38 pm  Show Profile   Bookmark this reply Add suipakpaikungfu to your friends list Get a Link to this Reply
I'd say the dealers that have the coins own them, and are also marketing through the Heritage website.
Pillar of the Community
Canada
2396 Posts
 Posted 06/07/2020  11:16 am  Show Profile   Check Wade's eBay Listings Bookmark this reply Add Wade to your friends list Get a Link to this Reply
Not even suggesting that this is the case, but I've seen things like this happen in a non coin setting before where people work in cooperation in order to inflate a price/value.

Items real value $50.

Seller 1 lists for $150, sellers 2 and 3 list for $250.

Unsuspecting newb sees the $150 and jumps on the "deal".

Group splits the commission & sets a new reference point for "real" comparative value.

Alternative is that all 3 compete with each other and no one makes any money.
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United States
1755 Posts
 Posted 06/07/2020  12:54 pm  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
I'm with suipakpaikungfu. I'm wondering if it's also possible that someone won a coin on Heritage, made it available through "Make an Offer", then later sold the coin without notifying Heritage. There's another thread here about Heritage and their "Make an Offer" listings (consensus: don't bother). In this case, I'd just go to the dealer directly.

Edit to add: Here's the other thread - http://goccf.com/t/374416
Working on: Indian quarter eagles, Chinese pandas, and San Francisco tokens; upgrading my Peace dollar and US Type sets

"Fear is the enemy of will. Will is what makes you take action; fear is what stops you, and makes you weak."
-- Sinestro to (my avatar) Hal Jordan, "Green Lantern" (2011)
Edited by Alpha2814
06/07/2020 12:56 pm
Pillar of the Community
United States
3521 Posts
 Posted 06/07/2020  3:51 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Let me clarify. In some cases the same exact coin is on Heritage AND on several different dealer sites. It's not sold because I made offers at all 4 places and each responded with a counter.
Valued Member
United States
378 Posts
 Posted 06/07/2020  6:14 pm  Show Profile   Bookmark this reply Add suipakpaikungfu to your friends list Get a Link to this Reply
Any chance you can provide an example? I'd really like to see what you're talking about.
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United States
3421 Posts
 Posted 06/07/2020  8:32 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Dealers may own the coin jointly - they made an offer for the collection when one couldn't swing the $ all at once. They then either divvy the collection up (I'll take the Seated, you get the modern bullion) OR they all list it, and whoever sells it gets some extra portion of the proceeds.

A dealer may have an agreement with another dealer to try and sell it, as long as s/he doesn't undercut the owner.

Finally, there are some unscrupulous people who list something they don't own at a higher price than the real owner is offering it for, betting they can buy it from the owner and then send it on and make the difference. Look for eBay listings at high prices with unusually long shipment times...
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Pillar of the Community
United States
1481 Posts
 Posted 06/09/2020  11:33 pm  Show Profile   Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
It could be dealers that are marketing an HA inventory coin and if it sells, they buy it.
The collection is in your mind. Dispose of your albums and free your mind from the tyranny of holes.
Valued Member
United States
371 Posts
 Posted 06/14/2020  11:00 pm  Show Profile   Bookmark this reply Add EarlyTurban to your friends list Get a Link to this Reply
Talk to the dealer asking the lowest price. This is a common practice -- dealers marketing coins from other dealers' inventories, but at a small to moderate mark-up. If you find the one with the lowest price, you've probably found the one in possession of the actual coin.
Pillar of the Community
United States
4738 Posts
 Posted 06/15/2020  3:03 pm  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
I ran into something similar.
It's a slabbed half dime so question about it being the same coin.
It's up for auction by 2 different seller ID's.
Starting price the same for both.

It would be interesting if both listings sold.
Describe it as if there were no picture.
Picture it as if there were no description.
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