Great Southern Coins

Does anyone know how Great Southern Coins (GSC) is able to achieve significantly higher closing prices on their items than other sellers on eBay? I was looking up 1941 s/s Half dollars, and noticed this:

Numismatics2010 - $55
greatsoutherncoin - $225.33
vette1986 - $48.50 (claimed UNC, but it looks like it was probably actually a XF grade coin)

The third coin was clearly overgraded, so the price didn't surprise me, however the N2010 & GSC coins appeared to be about the same grade. Also, N2010 actually showed a close-up of the S/S, whereby GSC didn't.

Mind you, the winning bidder for the GSC coin had very low feedback (46) and 63% bidding (out of 42 items bid on) rate with GSC items.

Normally, I would think pictures were the reason, but GSC's pictures are actually worse in this instance.

GSC: http://www.ebay.com/itm/271084150274
N2010: http://www.ebay.com/itm/271101754578
V1986: http://www.ebay.com/itm/230870238837

 

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I've always suspected them of shill bidding. Juiced pictures and overly high prices....stay away.

 

l
Learned long ago to shy away from these folks.........

 

Perhaps a tax dodge ??? To launder money ???

 

I have always wondered where the get so many raw proof coins. A few obvious anwsers come to mind. Im always surprised at the prices their items realize.

 

i agree. it seems they have sold more then what were actually minted.

 

They sell slider, cleaned, and impaired coins, label them all as gems, and get gem prices for them.

 

Those people are crooks with juiced pictures and a good return policy, who are likely cracking problem coins out of slabs and selling them to noobs. I got suckered in once on a nice 1931 S Lincoln... never again~

 

http://www.cointalk.com/t61177/

 

I have bought a few things from them......everything I bought I had to return. Everything was cleaned.

The company I worked for is in Boerne, TX and I went in one day to see what kind of shop they ran. I am convinced they run a cleaning operation in the back room. They have nothing out front except a few books. When I asked if I could see some of the coins that were in a live auction I was refused. I wanted to see them in person as I considered bidding on them.

Key thing to take away form this.....dont bid on their coins. 90+% are problem coins.

 

You guys are ridiculous.
Sure I stay way from them like most but if someone is getting more it does not mean they are automatically cheating, money laundering, ect...lol

Is that what Tiffany's does?
Or Neman Marcus?

IMO, Great Southern seems to consistently have many coins up for offer with much choice. This gives more bidders to their auctions. Plus they have done this for a long time. I think they are like the local auction houses that get crazy money for their coins from the average not so knowledgable buyers.
They didn't invent the mouse trap. They have just made it better. IMO

 

I have heard over the years that it was best to stay clear of GSC.

Last year GSC had a 1819 Bust Quarter PCGS VG10/CAC up for auction and I won it. Coin looked just like the pics, nice original skin. So I guess do your homework before buying.

 

There is absolutely nothing wrong with buying or selling raw coins, I even prefer it. I would rather pay for what I grade it rather than what some TPG said about it. Learn about what you are buying and every dealer is a good one.

 

I've been watching thier auctions for a while, as well as bought from them and was fully satisfied. They post great pictures so that helps get top $$$, you can almost grade the coin from the pics. They have over 80,000 feedback with 100% positive feedback so Im guessing their doing something right. I can also see where some people would become envious of their inventory but this is still America so power to them.
Ebay will guarantee your buying satisfaction anyway just dont go over your budget.

 

i was just looking through proof morgan and trade dollars on ebay, they literally have 90% + of all the listings. where do they find these coins? i have been around the block a few times and have never stumbled upon these coins at a dealer or show.

 

Just wanted to bump this thread because i was recently fooled by this coin company. Coins described as "Uncirculated" turned out to be XF at best. I am also very surprised that their bid prices tend to be so much higher than those of other sellers.

 

@dragondance , See BadThad's reply to the thread. It's the second one.

 

I don't think they are crooks. They just take advantage of the fact that photos have a major impact on selling price. Digital photography is an amazing technology that has been used to polish a lot of turds. From what I have read on numerous CT threads, most of their raw coins would fit that category.

 

I was able to score a 1911 Indian quarter eagle while back from them that they didn't realize is a weak d. I got it back from ngc graded AU details improperly cleaned more than happy with that buy!

 

Shill bidding is rampant, IMO.