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Replies: 10 / Views: 2,077 |
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Pillar of the Community
United States
4691 Posts |
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?
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Pillar of the Community
Canada
3733 Posts |
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..
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Pillar of the Community
United States
992 Posts |
I'd say the dealers that have the coins own them, and are also marketing through the Heritage website.
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Pillar of the Community
Canada
2781 Posts |
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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Pillar of the Community
United States
2023 Posts |
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
Edited by Alpha2814 06/07/2020 12:56 pm
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Pillar of the Community
 United States
4691 Posts |
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.
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Pillar of the Community
United States
992 Posts |
Any chance you can provide an example? I'd really like to see what you're talking about.
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Pillar of the Community
 United States
4588 Posts |
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...
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
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CCF Advertiser
United States
1533 Posts |
It could be dealers that are marketing an HA inventory coin and if it sells, they buy it.
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Valued Member
United States
383 Posts |
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.
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Pillar of the Community
United States
5825 Posts |
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.
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Replies: 10 / Views: 2,077 |
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