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How Bad Is The 'Market Acceptable' Problem With Seated Dollars? This Bad!

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jimbucks's Avatar
United States
4692 Posts
 Posted 07/24/2018  9:31 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Nothing like the awesome photos that Heritage takes. Of course, they charge more for that! I bought both of these coins from Heritage and these are their photos, and they didn't look nearly as awful as the pictures. Also, a few weeks ago I was watching a coin on GC with the exact same grade and holder as one for sale at a fixed price at DL, since I was interested in it...it sold for more on GC even before the buyer's fees than what the same coin is listed for on DL. I am not affiliated with GC, just trying to put out some facts.


How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
Edited by jimbucks
07/24/2018 9:33 pm
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basebal21's Avatar
13014 Posts
 Posted 07/24/2018  9:49 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Nothing like the awesome photos that Heritage takes. Of course, they charge more for that!


The top Heritage picture isn't really bad. The 2003 one yes their pictures were terrible back then that's no secret, they improved them over the years though. They give you a lot more than photos though which you are paying whatever agreed upon rate for. You get live auctions, lot viewings, most things have some description or at the very least population information, have a larger buying base, and market their auctions.

There's a reason why the top collections sell at Heritage, Legend or Stacks and why GC isn't getting million dollar coins or many six figure coins ect.


Quote:
Also, a few weeks ago I was watching a coin on GC with the exact same grade and holder as one for sale at a fixed price at DL, since I was interested in it...it sold for more on GC even before the buyer's fees than what the same coin is listed for on DL.


No two coins are alike unless you're talking about a modern 69/70 type thing. Of course somethings will sell for a little more there and some will sell for the same price no matter where you put it, that doesn't negate the criticism that consignors have made. Of course buyers love it, they get things cheap or outright steals more often than they should there. Bad photos, smaller buying base with a lot of dealers being part of it, lack of attention and descriptions, those are all good for the buyers where it keeps prices down but that's not what you want as a consignor.

Something else to consider the GC consignor almost certainly paid a bigger fee than the DL one did.
Edited by basebal21
07/24/2018 9:50 pm
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MikeF's Avatar
United States
3479 Posts
 Posted 07/24/2018  9:53 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
Thanks for weighing in Jimbucks! I agree those pictures suck but I understand what Chester and Baseball are saying. Lighter toned coins look washed out in GC pics but darker toned coins look drool-worthy.

Here's a lustrous 1840 Seated dollar with CAC approval I purchased from Great Collections a few months ago. It looked kind of washed out in their photos but I took a chance because of the CAC designation. Boy am I glad I did.

The first two pics are GC's photos. The remaining are mine and a better representation of what the coin looks like inhand:
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
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jimbucks's Avatar
United States
4692 Posts
 Posted 07/24/2018  10:18 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply

Quote:
Something else to consider the GC consignor almost certainly paid a bigger fee than the DL one did


Not sure why you would state this, from GC website "The lowest seller's fees - 0% for coins/banknotes that realize over $1,000 or 5% for coins/banknotes $1,000 or under," So for a coin over $1,000 unless Heritage is paying the consignor to sell through them (maybe they are!) then how could the fees be lower?

Does Heritage actually pay consignors? That would be good to know, the next time I am thinking about selling. But that's not too cool to treat sellers differently.
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basebal21's Avatar
13014 Posts
 Posted 07/24/2018  10:39 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Mikes example is a perfect illistration of what we were talking about. The coin is . I am confident that if it had his picture at least another if not several more bids would have occurred.


Quote:

Not sure why you would state this, from GC website "The lowest seller's fees - 0% for coins/banknotes that realize over $1,000 or 5% for coins/banknotes $1,000 or under," So for a coin over $1,000 unless Heritage is paying the consignor to sell through them (maybe they are!) then how could the fees be lower?


I was speaking of DL since that's who you had mentioned. Hard to know without the two coins being posted.

As for the 0% fee at GC, technically that is kind of true. You pay a listing fee at GC for everything unless you get them to take that away so that's a selling fee. There is always a buyer fee which is really paid by the seller since most people back their bids off to account for it unless something is exceptional. So while technically you are paying 0% as a sellers fee you aren't paying 0% to sell there as you are paying a listing fee and losing the buying fee.

As for Heritage and Stacks with substantial consignments or working with a dealer who gets part of it you can get part of the buyers fee. Some will do it and take a small percentage which is still a much better deal than their normal full fees which is why they're so high so you feel like you're getting a great deal when its negotiated down.

I've seen people on different forums talk about dealers that get -5% and they'll do the consignment for -2%ish so the consignor still ends up with -3% which puts the fees very close to the GC fees and even under their fees for under 1k items.
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Steelers72's Avatar
United States
1448 Posts
 Posted 07/26/2018  4:43 pm  Show Profile   Bookmark this reply Add Steelers72 to your friends list Get a Link to this Reply
Regardless of what the plastic says, the coin in the original post is a problem coin to me. This is why I like collecting my coins in albums. The coin should speak for itself, not the plastic. this wouldn't be a market acceptable cleaning in my book.
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MikeF's Avatar
United States
3479 Posts
 Posted 08/05/2018  04:34 am  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
Hammered at $1,918.
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Andrew99's Avatar
United States
1533 Posts
 Posted 08/06/2018  1:44 pm  Show Profile   Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
Yes, Heritage pays consignors for good material. You can get 0 to -5% sellers commission on sales.
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