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<p>[QUOTE=&quot;Conder101, post: 2145185, member: 66&quot;]From what I am reading on the site it appears to be a dealer/collector running a penny auction site.&nbsp; Yes you can probably get a &quot;good deal&quot; but its the auction site that cleans up.</p><p><br /></p><p>Say you have a coin worth $100. and each time a bid is made the high bid goes up one cent.&nbsp; Now say it ends up selling for $10, a fraction of the FMV.&nbsp; The buyer gets a bargain and it looks like the seller lost $90.&nbsp; But each of those 1000 bids it took to get to $10 had to be purchased from the site for $0.60 each.&nbsp; So the site made $600 in bid sales to &quot;lose&quot; that $90 on the coin.&nbsp; So their net on the $100 coin was $510.</p><p><br /></p><p>From their home page They show a MS 64+1976 S Ike dollar with an estimate of $19 that sold for $7.&nbsp; That&#039;s 700 bids at 60 cents a bid or $420 in bids sold plus $7 for the coin so they got $427 for it.&nbsp; And it was raw not slabbed.[/QUOTE]</p><p><br /></p>

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