Is This Crazy Or What !! - Coin Community Forum

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Author	Replies: 5 / Views: 1,826
nohope587 Pillar of the Community United States 5953 Posts	Posted 02/08/2009 6:53 pm I don't understand this auction... Its VG10 for goodness sake. Worth about $20 on a very good day.... http://www.teletrade.com/coins/lot....650&lot=1221 Report this Post to the Staff

KenKat Pillar of the Community United States 4085 Posts	Posted 02/08/2009 7:10 pm There's an 1869 recut date variety that starts north of $150 according to Numismedia. I would think the holder would say that tho... Ken My 7070 US Type Set My 7100 Lincoln Cent Set (now with updates!) Report this Post to the Staff
KurtS Pillar of the Community United States 5318 Posts	Posted 02/08/2009 7:13 pm Yeah...odd. Personally, I don't like auctions where I cannot see bidding history. How many bids did it take to get to $100, and who's involved? Report this Post to the Staff
nohope587 Pillar of the Community United States 5953 Posts	Posted 02/08/2009 7:24 pm I bid a couple of times but when it got above $15 I stepped away. From the pictures its nothing special no obvious indicators of a rare variety...Teletrade has the nasty habit of allowing sellers to bid on their own items. They call it the buy back option. Report this Post to the Staff
xshift Pillar of the Community United States 2669 Posts	Posted 02/08/2009 8:52 pm Quote: buy back option Soooo.. I have a coin, and put it up for auction, and bid on it myself.. why? "Buy back option" = shill bidding? Report this Post to the Staff
nohope587 Pillar of the Community United States 5953 Posts	Posted 02/08/2009 9:38 pm I don't know why they allow it if you are the seller and you win you still have to pay the fees. "Teletrade does not enter minimums or reserves on behalf of consignors. Consignors are permitted to bid on their own coins, but they must do so by placing Buyback bids no later than one hour before the auction begins (see "Maximum Bidding" instructions on how to enter Buyback Bids). Consignors will be charged a flat 5% fee (minimum $5) on their full Buyback bid on any lots bought back in this manner. The maximum fee for any Buyback lot is $100. " Report this Post to the Staff
	Replies: 5 / Views: 1,826

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