I bid in my first Teletrade auction today! I have been looking to complete a set for a while and happened to find one of the coins I needed on Teletrade, so I registered and placed a bid. Hard to believe that as long as I have been buying coins, that I have never used Teletrade before. well, wish me luck! I'll give details tomorrow after the auction is over!
Good Luck Mike..TT isnt bad, just watching the price because sometimes I think people get in the bidding war and overbid on items. I believe after $75 the Buyers fees goes up from $8 to $11 so on and so far and $5 shipping (plus an additional 25 cents per coin).That is something to think about. You will like their shipping VERY fast imho and will require your sig..
Mike: Best of luck. I have had some good luck with TT, but be advised that people swoop in right at the last second. TC
The part I have to be careful about when looking at Teletrade is the prices realized. The price they post includes the buyer's fee and maybe even the S&H. That means if they say the price was $200, then the actual bid was about $170. Take that into account when looking at their figures.
Good luck! And I have only won a few items on teletrade. They seem to go a little higher than heritage. Still I search and bid - just don't win many.
I did not. I placed a bid and walked away. I felt that if I got outbid, then they overpaid for the coin, IMHO. Also, this way I wouldn't get caught up in the hype.
It was a 1962 Jefferson slabbed by PCGS PF-68 DCAM. I really want an NGC UCAM anyway, so I will continue to look for one. This was the first one that I had seen in over 8 months of searching. Sometimes the thrill of the hunt is good too, though, so onward and upward!
You did the right thing...give it your best shot and if someone wants it pay more good for the seller.
I always put a limit on how much I'm willing to bid on a coin, and generally let it go if someone bids higher. Once in awhile I'll raise my bid if it's something I really want, but not usually. You definately have to be disciplined when you bid or you'll get caught up in the hype and pay more than you should have. Good move mikenoodle. Bruce
I go way back with Teletrade, to the old phone days with printed paper catalogs. Make sure to factor all fees and shipping into the bid. Be aware that some of the coins are owned by the house, and aren't true auctions. The reserves are set at retail prices on the house coins, hoping someone will come and buy them. There is no easy way to tell which are the house owned coins. However, if a person keeps watching they may see the same coin come up many times. In those cases, the odds are that the house owns that coin. With all that for that particular issue 1962 UCAM nickel, Teletrade is one of the more likely venues to find that coin.
One way to tell if it sold is to just check track and bid. If you bid on a coin it will show up with the final price there, if its not there it will probably be relisted. Returns also will probably be relisted under their guaranteed sold option. I like TT, I find their pictures to be accurate however the prices do tend to be at the upper end of the range. I buy and sell thru them regularly and am a satisfied customer.
