Last year I won a stunning set of Jefferson nickels and wrote about it for Coin Update, explaining the process to dismantle a set (i.e., removing high-end coins for holdering). The process involves identifying toned coins, which command a premium, then checking for rare varieties or mint errors, and finally, selecting coins based on eye […]
How do late ANACS slabs stack up with modern PCGS?
Viewers of Coingrader Capsule know we test modern holdering companies, especially against the widely held half-truth / half-myth that early graders were more conservative than those of today. You can view several posts about that in Coin Update. Here’s one of the first that I did in 2011, titled “Old Green Holders” [ain’t what they […]
Exaggerated descriptions plague coin auctions
I am growing weary reporting exaggerated descriptions in online coin auctions hosted by major portals, such as Proxibid and eBay. While it is difficult for those portals to monitor all lots in multitudes of auctions, it nevertheless hurts the hobby when hyped descriptions are not reported. Here are just a few recent examples. I could […]
Caution on coins during vacation
Proxibid sent the email above (hover to zoom in) allowing me to bid in an auction while I was abroad on vacation. I had to verify some details for the company before being allowed to participate. Here’s what happened: During a lull in vacation activities, I had gone to the business office of my hotel […]
Grading Capped Bust half dollars
Grading Capped Bust half dollars is a challenge, especially to new hobbyists unaccustomed to the series, which ran from 1807 to 1839 and which continues to be popular because many of the dates are affordable and come with a large selection of die varieties (including overdate strikes). We’ll save overdates for a future column. This […]
When flat bids are not mentioned in terms
I’m an experienced online coin buyer, blogger, and numismatist, and even I get caught on occasion when auctions do not mention flat bids in their terms of service, which I always read. In an April 23 session on HiBid.com, there was no mention whatsoever that an online catalog was programmed to take flat bids—an amount […]
A closer look at the law that allows shill bidding
Let me begin by stating that I’m going to focus here on Proxibid, probably the best online venue for estate auctions because of its Unified User Agreement that holds both buyer and auctioneer accountable. You don’t get this type of protection from many other popular portals, including emerging competitor HiBid.com. Throughout the piece I will […]
More Bidding Basics: Buy It Now & Make Offer “Deals”
Every now and then we need to monitor the major online coin portals in our “Bidding Basics” series—this time, concerning “Buy It Now” and “Make Offer” deals on Proxibid and eBay. Some general rules: Never bid on raw coins unless you are an expert grader, trust the seller, can view excellent photos, and can return the […]
Dipped: Know the Tell-Tale Signs
Increasingly on Proxibid, HiBid, and eBay, I am encountering dipped coins, making me wary about placing any bids, even on Morgan dollars like this 1902 one depicted above. That’s not how a 115-year-old silver coin is supposed to look, unless it was broken out of a bank roll, in which case the seller would have […]
Follow-up: The Volatile State of Online Estate Auctions
Earlier this year I wrote an investigative analysis titled “The Volatile State of Online Estate Auctions,” noting how tardy technological upgrades in addition to fees from auction portals and credit card companies—often combined with building rent and/or upkeep of onsite facilities—continued to push buyer premiums ever higher. Shipping has always been an issue with auction houses. […]
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