Any opinions on heritagegalleries.com?

I'm new to the hobby as a "serious collector/investor" and am looking for opionions on heritagegalleries.com.

1. Are those prices good from an investment point of view?

2. What about those buyers fees? Are they really high or is it just me?


Any advice will be greatly appreciated.

 

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First let me say WELCOME!
Next let me say....search the forum for Investing...you can see that Investing in coins is risky...I would suggest collecting for the enjoyment and buy coins that make you say WOW...not....I wonder if that will go up.
When you say WOW you won't mind if it goes up or down.

Heritage is a great place...their prices are right in line with what the hobby is buying at because the buyers ARE the hobby...or market.

The buyer fee....I can't understand why people don't like that....just put that into you bid....if you want to only go to $12...only bid $2...just count that in....that is what everyone does when bidding.
There is a box above the photos on most pages with about 5 listings of when they sold a coin from that date and grade and mintmark last....that will give you an idea on what this coin will go for....sometimes I've had to go over that price listing by $10-$20 bucks just to get a coin I wanted.

Heritage is a great place....but remember...buy the coin that makes you say WOW.
I would also suggest that you say with the top 4 Grading Co.....NGC/PCGS/ANACS and at times ICG....I wouldn't buy from ICG for coins after 1964 and I sure wouldn't buy their PF or MS70 coins....they tend to overgrade them.
Also try to stay away from cleaned coins...that lowers their value by somtimes 50%.

Speedy

 

Ok... so from a sellers perspective, heritagegalleries.com may not be the best place to sell an expensive coin, because you may count on the buyer working the buys fee into their bid.

Also... I collect because I love collecting and love coins, but I have to think about value because it is an investment. For me it has to be a good investment. I don't like to lose money no matter how much I love something.

Thanks for the advice...

What about Ebay... I won't buy anything not slabbed by PCGS, NGC, or ANACS. It seems that alot of the sellers of noncertified coins are overgrading and/or not listing that it is a cleaned specimen.

 

Heritage is going to get TOP Dollar for their coins...if I had a rare coins that I needed to sell....and I didn't need the money right away...I would think about sending it to Heritage.

Speedy

 

I'd stay away from heritage, especially as a seller. Someone I know personally lost over 40k after they allowed heritage to sell some coins. They did a really crappy job.

 

Really. Care to give more details? They sure beat ebay.

Ruben

 

Yeah Zaneman, please if you have anymore details on that.

Question:
So is it the consensus that Heritage is better for selling coins than ebay?

I'm looking at Ebay for purchases and using Heritage past sales records as in indicator of true value and I was using redbook but will now consult grey sheet.

 

Well, my father sold his byzantine gold collection, and after seeing the way they were handling it, he tried to pull the auction before it started. Heritage insisted that there were some real big time guys coming, and they assured him a huge sale, and they would only allow my dad to place a reserve on 5 items. Some coins that were worth about 1500 were going for 150 and things of the like.

 

I like Hertiage for a number of reasons. First, their pics are first rate with close ups and all.

2nd, I like their "prices realized" section for the given grade as well as other grades associated with the coin. It gives you a pretty good idea what are the true market prices.

3rd, I like their "My Heritage" section where you can inventory your collection on-line (privately, of course). Here I can track what I paid, how many other Heritage members have my coin on their "Want List" (gives you an idea of market demand) and more importantly, a realistic idea of what the current numis-wholesale prices are. In other words, what I can realistically sell my coin(s) for IF I had to liquidate. Best part, it is FREE.

4th, they tell you what the coin is bidding at with and without the buyer's premium so there is no surprises what you are paying for the coin.

As for selling, I have sold one coin. A 1960 SD over LD PR67 1c for what I hoped I would get. There was NO fee because I had a their "coupon" for a free listing. As for others, you can place a reserve for the coins. I am not sure of the details, but I am sure you can.

I only bid on items that are "internet bidding" because "signature" bids close before they head to a show for the floor bidding. Actually, there aren't many signature items I can afford.

If you want some really nice and ultimate coins, they have them! But you will pay for them!

 

Midas:

Question:
How are you getting a realistic idea of what the current numis-wholesale prices are?

I'm assuming your using the Numis-wholesale price as a guide for your offers on coins that you are purchasing.

 

Heritage updates these prices automatically. I use all of this information including the population reports for both PCGS and NGC. Now before others jump on me about popualtion reports, I use it as a "guide", okay??

Here's what they offer under "Price Guide" They automatically list prices for:

Coin World
(Trends) Numismedia
Retail Numismedia
Wholesale Numismedia
Coin Universe

Search out a given coin or add a coin under "My Collection" and you will see for yourself.

 

that is the truth....I have only bid on INTERNET ONLY auctions as they are what I need and seem to go lots cheaper.

who would do such a thing??....J/K

Speedy

 

I really like the part of the web site that allows closeups. Does anyone know another site that does this but with lesser graded coins?

 

1) The prices are to high, but I have been able to pick up some great eye appeal coins that justify the prices.
2) The buyer's fee (on auction only) is high, but again an astute buyer can pick out a deal now and then, they let you know your gross total before you enter your bid.

I love to just look at those awesome coins also.

 

True.

 

Carter..not too sure if anyone mentioned www.teletrade.com it is another auction house with a good selection..although lately they have been getting into ultra high grade MS and Prf 70 American Gold Eagles..as mentioned in one of my earlier post in your thread about asking for collecting advice.
I am a collector/investor in the American Gold agle (AGE) series as well as the platinum(APE) uncirc and prf Series. From an investment standpoint..all my gold and plat eagles are MS69 (95%) with a few in lesser grade not falling below MS67 (5%). I have gotten a large number of these from Teletrade at various times at good prices compared to todays gold market.

RickieB

 

A few points about Heritage...

First, the prices listed in My Collection from the various sources are very old and have not been updated in months.

Second, their Internet Only auctions for the most part are of generally common and/or cheaper coins. The better coins are in their signature auctions.

Third, the prices they get for coins are generally very strong, as are their consignment fees.

Fourth, you should not look at coins as an investment unless you buy the finest coins on the market, generic gold, or have a buy and hold mentality -- to do otherwise will only cause disappointment as the margins on coins are generally 15-30% (or more) and that's a lot to make up from an investment position. You are better off buying bullion or real estate or stocks/mutal funds where the fees are cheaper and the market more liquid.

Hope this helps...Mike

 

Fund that Roth

 

Good advice Leadfoot, but like I said in either this or another post: I'm a habitual collector, have been all my life. If I'm going to collect anything it has to be coins. I think it's my best chance of having something very valuble maybe 30 years down the line. Besides I really like them