Discussion in 'US Coins Forum' started by capthank, Sep 3, 2019.
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What do you mean by "local auction house"? How well do you know the auctioneer? Do you know any of the other bidders? Have you ever heard of the term, "shill bidding"?
We have two local auctions here and I watch both. I am aware of shill bidding and had two lots of coins sell and when I went in to get a check the bidder failed to pay. I asked why the back up bidder did't then get the lots & the answer was vague. Ended up placing them back in the auction and sold but received less. % is so darn high I won't use an auction again but sell word of mouth thru the coin club.
I don't know. $2.50 for a circulated dollar to me is high.
But that depends upon the specific coins involved. That's why I asked about pics. There are Ikes that can go for $3 or more, even circulated. I take it you are not an Ike collector (neither am I).
I don't blame you. I wouldn't trust those auctioneers, either.
FWIW, when I was ready to sell most of my collections, I sold them through a trusted friend who had an established reputation on eBay. Being a good friend, the fee he charged me for his services was much lower than the fee he charged other consignors. In the end, all of my coins sold for decent premiums. I was happy and so was he.
Now, I'm not suggesting that everyone has such a friend, but there are many eBay sellers with good reputations, and some of them are even members of these forums. So, if anyone is thinking of selling or buying, but they don't want the hassle of dealing with the competition, it might benefit them to start looking for a representative right here.
Guess I had better review the coin book on Ike's. Thanks
I was both naive and ignorant. Didn't closely read the sales agreement. $01-$55.00 % = .45, $55-125.00 (%= .30), $125-300 (% = .25), &300-1,000 (% = .20) and 1000.01 (%=.10.) and then they have a 10% buyers premium. so they win every time.
I have about 150 circulated Ikes in my collection just because I like the weight , feel and sound of them. I'm betting that the price will continue to rise. BWDIK?
Thanks for the information. Now I'll keep my eyes open for them
Might have to be ordered in?
They do sell at a premium on ebay, most likely as slot machine coins.
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