What a joke..

I saw on the TV last night on the news...

The IL state treasury is holding an auction of "abandoned property".

Talked about all kinds of old coins and showed all kinds of them.

While the auction is legit, and being held through the IL state treasury...their "overflowing vault of old coins" is nothing more than this..

https://ibid.illinois.gov/storedetail.php?id=6426&catid=403&sort=&order=&tab=pending

A tub of wheats, some constitution dollars and proof sets, a few rolls of silver dimes, a roll of buffalo nickels, 12 silver certificates...and hold your applause

a 1990 mint prestige set.

This is quite a disappointment, to say the least.

 

Log in or Sign up to hide this ad.

At least you never fail to disappoint....

For the umpteenth time; if you don't like it, no one is forcing you to look or bid.

 

Please tell us, Timmy, why do you feel it's a joke and why are you so disappointed?

 

Maybe its a disappointment today, but I know a couple of people who make their living going around to the states and buying up some great coins at these auctions. There are tremendous coins in many of these auctions, just not all of the time. Everyone should always at least check out these in their local state if they can.

 

Detecto, finding a real opportunity is not supposed to be easy. If you do find an easy one it's either dumb luck or a sucker punch.

 

I have bid on some US government auctions of gold lots - buying up 19th century European gold at 50% of spot because most bidders in that auction had no idea of actual worth. Usually with US coins prices are ridiculous. My best find so far is an 1897 Russian 15 Rubles with .3734 oz of fine gold. It has a value well in excess of it's gold value.

 

Looks like they just want this stuff gone, very low reserves.

 

Wouldn't worry about it unless you were already registered and in 'good standing'.... "Buyer must be in good standing. Buyer must be registered and in good standing with the Illinois Department of Central Management Services and the Office of the Illinois State Treasurer." That seems to be a requirement so unless you have already met that, complaining about what is being auctioned off is even more silly than it seems at first glance, here. I somehow recall that you have had issues before with different entities on stuff like this.

 

Uh, yeah, but I think I would be crapping in the thread if I brought up that history.

 

The website just mentions an overflowing vault, not an overflowing vault of old coins.

I take it back. After looking at ALL the items up for sale, in all categories, I think their vault is a small gun safe.

 

Couldn't agree more.

Plus Tim, you have to remember that this property they government has acquired and are trying to get rid of. They aren't a coin dealer with a planned inventory. They have what they have.

 

It looks average for what you find at these auctions.

 

You, yes. Me, no.

 

So what's the good coin referred to in one of the posts?

 

There are two really: one is obvious, which the photos show this set does not have, and the other, while still significant, is not as obvious or well known.

Sorry to be vague, but I'll not do Timmy's homework for him.

 

OK maybe once the auction is over, you can tell us for rub ins

 

You won't have to now, you let the cat out of the bag by saying he is missing something in there of value.

 

He won't bother. In fact he's probably already given up on checking replies to this thread.

 

I didn't see it until your message.
You gave it one away for me. If someone with as little actual experience can find it then anyone can