You Helped Me Before. Again, Please.

Your opinions once helped me decide NOT to bid on a coin on Teletrade.
REASON: The coin wasn't as good as the grade on the slab.

Please give me your opinions on another Teletrade coin.
This coin is a 1799/8 dollar and slabbed F-15.

http://www.dcderoo.com/1799_8-Dollar.jpg

 

Log in or Sign up to hide this ad.

Genuine 1799/8 B-1 variety R-2. Possibly lightly cleaned long ago. I think the sharpness grade is actually better than claimed and much of the central detail loss is due to strike and not wear It is a middle to earlylate die state. The lumps above T2 and behind I2 are normal for the variety. The only real problem other than the possible cleaning is the bad rim nick between the CA of AMERICA. Overall I could probably agree with a net grade of F-15 but I'd feel more comfortable with F-12. Without the nick I wouldn't have a problem with the 15 grade.

 

I like it as a F-15. Of course I would agree with an old cleaning, but that is common and mostly expected. Nice coin.

 

I like it as a F-15 and yeah probably an old dipping. Looks decent to me, but think hard about the rim tick conder mentioned. You pictures don't make it seem that bad, but when I went to teletrade(using their viewer, rotating the coin) it looks like a perfect little slice of maybe one dentil out of the coin. I still like the coin, but just think about it. Plus my book shows it as a R-3 and heritage shows it as a R-4 coin.

 

If I were going to spend the amount of money that this will probably end at, I would consider waiting and seeking another offering. I could be wrong, but I don't think it to difficult to locate another overdate in this grade .

 

Thanks, people.
Considering your comments I think I'll take a weak shot at it.
By weak I mean F-12 money MINUS the buyer's fee and S&H.

 

What was the final bid and did you bid?

 

The auction hasn't started yet.
It's not until Sunday, 10 Oct.

 

I grade it $2,000. Just kidding, but I'd be surprised if it goes for less than that with the BP. Much closer to a 12 than a 20 for sure with F15 being a fair grade. It's got strong eye appeal.

 

I wonder what a thread like this does to the final price for an item? I know most people on cointalk know of teletrade (especially those spending $1,000+ on a coin) but it only takes one more person to see this auction and you just cost yourself a few hundred dollars or the chance at the coin.

There is a dealer online who has a huge lot of a few particular old bills, he sells one every few days. I asked a question on this site about the bill after buying it for $47, since that time I haven't seen that bill sell for less than $65.
Just wondering if you are worried about that?

 

Nope, it doesn't bother/worry me.
I do the same thing on eBay.
I decide what I believe an item is worth, then take into consideration the add-ons (fees, S&H, etc.) and that's what I bid.
I don't snipe.
If someone outbids me then IMO they overpaid. I'll have another chance some other time.

 

What is this snipe" ? I'm no techy type and don't know what this feature is.

 

kanga-sounds good, I just wondered if you thought there was any difference.

a snipe is a last second bid, either done manually or using a secondary program. It is done with only a few seconds left so that other bidders don't have time to decide to bid one last time.

 

Oh, cheating. Technology is our friend. Ummmm not always it seems.

 

Only to me.
I bid then don't worry about it anymore until I have to pay.
I don't want to hover over my keyboard to see how I'm doing at the last minute.
It doesn't matter. I'm not going to increase my bid anyway.

I know of a number of snipers who set their snipe at about 10-15 seconds THEN put in a higher bid and wait with their finger over the ENTER button just in case the snipe doesn't do it.
Life is too short for that.

 

I love to watch the Live Auctions on the streaming video, and throw a bid in at the floor auction.

 

Here here - I second that.

 

Same answer, different coin.

Having watched Teletrade auctions for many years now, I can count the good early type coins I've seen in the past five years on one hand.

You would be better off watching Heritage or a few select dealer's websites, IMO.

 

Personally, I have never bid in a teletrade auction. I usually stick with Goldberg coin, Northeast coin, Heritage or Stacks.

 

I've bought lots of coins from Teletrade, and overall I'll give them a big thumbs up as far as auction companies go (although I disagree strongly with their reserve/fake bid policy).

That said, like ALL coin auctions, you have to be very careful what you bid on. There are big mistakes to be made at Heritage, Goldberg, & Stack's, too!

If you're looking for a silver dollar from the 1700's -- Teletrade is about the LAST place I would look -- and the ones you mention are more likely to have a coin like this.

Have a nice weekend...Mike