Is Teletrade shutting down?

I know their site wasn't very user friendly, and they seemed to have the same crappy coins every week, with high opening bids. I thought they partnered with someone.

 

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Teletrade isn't going anywhere, David Lawrence is now owned by Stacks though.

 

Did teletrade merge with someone

 

They were purchased by Stacks and Bowers.

 

So Stacks now has their flagship (Stacks & Bowers) as well as Teletrade and DLRC?

Meh.

I'm still a Heritage guy.

 

Since when?

 

Teletrade is essentially worthless to me.
I have found almost nothing of interest there since they changed to Sunday only auctions.
And last I saw there was no seller's fee but the buyers were paying some rather large %.
And, yes, everything seems to start above catalog BEFORE the buyer's fee.

 

My question exactly.

 

I'm with you as that 15% or 17% was just ridiculous.

 

Just notice that Teletrade has no current actions listed..... Wonder what is up?

 

I think they merged with stacks

 

I just won and received a coin from Teletrade last week. I think they went to weekly auctions. They were purchased by Stacks.

 

What I heard is they are now running Stacks Bowers weekly auctions since they both owned by Spectrum. David Lawrence is not owned by Spectrum.

 

Since when did stacks have weekly auctions? have a link? There isn't anything about weekly auctions on SB home page

 

Teletrade will be running them from what I have heard. I imagine there will be an announcement.
http://stacksbowers.com/news/article.aspx?ID=252

 

Teletrade will no longer be having weekly auctions. Teletrade (and the name) is going away. Their last "weekly" auction ended last weekend (December 8th). The writing has been on the wall for quite some time, ever since they went to one weekly auction, and all of their opening auction bids were essentially full retail of attractive versions of the coins. Problem was that much of their material was low-end for the grade, or simply unattractive/over-graded.

3 years ago I followed Teletrade auctions regularly, and picked up a few nice pieces. When they changed their "policy" in the past 1-2 years, everything went down hill IMO. This "end" doesn't surprise me one bit.

According to some other information on the PCGS boards, Stacks will begin having weekly auctions soon.

 

DLRC has never been owned by Spectrum Group, not sure where you heard that or got that information. Spectrum owns Stacks and Teletrade, but has nothing to do with David Lawrence Rare Coins.

 

Do I remember correctly?
Teletrade started off back in the 90's as a monthly list printed on newspaper?

 

Even earlier mid to late 80's and they used to send registered members VHS video tapes of the coins being auctioned.