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<p>[QUOTE=&quot;Leadfoot, post: 618079, member: 2972&quot;]<b></b></p><p><b>There is no such thing as a good place for a newbie to buy.</b>&nbsp;&nbsp; Newbies can and do make mistakes in all trading venues, and TeleTrade has a few unique traps that a newbie needs to be aware of including:</p><p><br /></p><p>o Owners of the coins can make a hidden reserve bid (&quot;Buyback bid&quot; is what they call them). Some allege that TeleTrade has a phantom bidder that bids up to this buyback bid giving the appearance of bidding action when no such bidding is really taking place.&nbsp; Shady.</p><p><br /></p><p>o Some of the coins are &quot;owned by the house&quot; (i.e. TeleTrade or their parent company, Spectrum), and the &quot;hidden reserve&quot; described in the point above is invoked and phantom bidding seems to occur.&nbsp; Shady.</p><p><br /></p><p>o In addition to not refunding postage either way, TeleTrade has restocking charge, as stated here:&nbsp; &quot;A return handling fee will be deducted from any refund for a returned lot calculated as follows: Five Dollars ($5.00) plus five percent (5%) of winning bids equaling Two Hundred Dollars ($200.00) or less; Ten Dollars ($10.00) plus five percent (5%) of winning bids in amounts in excess of Two Hundred Dollars ($200.00).&quot;&nbsp; Source: <a href="http://www.teletrade.com/coins/help/terms.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.teletrade.com/coins/help/terms.asp" rel="nofollow">http://www.teletrade.com/coins/help/terms.asp</a>&nbsp; NOTE: I understand from others that that some have gotten out of this restocking charge by speaking with customer service.&nbsp; Shady.</p><p><br /></p><p>o Small photos.&nbsp; The photos that TeleTrade uses are just small/poor enough to hide key details -- and it is these details (hairlines and luster, for instance) that make the difference in which coins are &quot;good for the grade/price&quot; and &quot;mistakes&quot;.&nbsp; So just because a coin looks good in a TeleTrade photo, doesn&#039;t at all mean it will be good in-hand.&nbsp; Shady.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>No, eBay offers less in ways of fees for the buyer, and you can often find better deals there -- however there are greater pitfalls to.&nbsp; With TeleTrade, you can be confident you will get what you pay for, and they will stand up to their end of the bargain.&nbsp; While PayPal provides some protection, you really can&#039;t say that on eBay -- so that&#039;s an entire different kind of risk you need to be wary of.&nbsp; </p><p><br /></p><p>All in all, and provide you&#039;re buying &quot;cheap&quot; coins, then TeleTrade isn&#039;t that bad, all things considered.</p><p><br /></p><p>Oh yeah, did I say that there is no such thing as a good place for a newbie to buy?&nbsp; :hatch::hammer:[/QUOTE]</p><p><br /></p>

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