I have a couple questions regarding teletrade When you sell an item with them, how do you they make payments to you? is it via check or direct deposit etc.? I intend to send a couple raw ungraded coins and have them get graded by pcgs through teletrade. how much will teletrade charge per grading? Also what is this you can bid on your own item before the auction starts? Any answers are appreciated I hear great feedback from them by sellers and buyers alike.
I can answer a few of your questions, at least based on my experience, which has generally been positive. 1. They will pay you by check, usually within a month or six weeks of the the auction where your coins sold. 2. You can make a maximum bid on your coin before the auction starts. Once the auction starts, you are stuck with whatever you made as your maximum bid on a coin prior to the auction. I said more about Teletrade at the following: http://www.cointalk.com/t85148/#post770585 Good luck.
One thing that is painfully obvious about Teletrade is that the sellers are getting a lot less money for virtually any gold coin than they would were they to pick up the phone and call either Heritage or Spectrum (a parent company of Teletrade). With gold well over $1500, modern gold coins and $20 Libs. are selling at record lows through them. Too bad they traded their 5.5% buyers fee for the current 15% with added gimicks. The only coins I would submit to them are coins that may fetch more at auction due to the holder they are in. Once you have a reserve on the coin, you will pay that fee even if the coins do not sell. It can be an expensive learning experience. Don't think you are doing them any favors by letting your coins go at a loss. The certified coin industry has become extremely competitive world where the price points are well known by the insiders but often elusive for the collectors and investors.
