Should Proxibid Add a Coin Category?

As Proxiblog is supportive of but independent from Proxibid, we do not know what is feasible for the Internet portal; however, numismatically speaking, we feel it’s time for a “Coins and Currency” category similar to that of eBay. (Click picture above to see how that might look!)

Online coin auctions have grown phenomenally in the past five years as local coin shops have either closed or migrated online. In fact, many Proxibid auctioneers aren’t really auctioneers in the traditional sense. They don’t earn licenses to handle real estate, classic cars, livestock and the like; they operate from their homes with a computer and blog or website software.

A typical article, “Start A Coin Dealer Business Online,” notes that traditional coin dealers work from stores. “With an internet connection and your own website, you can build an online business buying and selling coins at a fraction of the cost.”

As the article states, many online auctioneers begin as coin collectors who buy regularly from Proxibid, eBay, coin shows and estate auctions and are knowledgeable about numismatics, giving them a leg-up on competition, including real auctioneers who only occasionally sell coins. Many of these migrate to portals like Proxibid whose technology expands clientele and whose customer service excels, adding value based on reasonable fees.

Proxiblog has been patronizing Proxibid for three years. During that time, the coin business on the portal has exploded with new numismatic business. Just a few weeks ago, when Proxiblog launched, we counted only 11 auctions that met our standards. Now 37 have.

How would a separate category help auctioneers selling coins regularly on Proxibid? Here’s an example.

Yesterday on this blog we received a comment from Sheena Wallace of Auctions by Wallace: “One of our buyers pointed us to your blog. We have been using your best practices prior to even knowing about your blog. We would like to be considered for your blog.”

We’re proud to endorse what Sheena Wallace states, as Auctions by Wallace now is one of our Honor Roll auction houses meeting high numismatic standards.

But the point is, despite an excellent and improved Proxibid search function, Auctions by Wallace had to find us, even though we canvas portals daily. How many other coin auctions not included in Proxibid email alerts and newsletters are being missed by collectors? A “Coins and Currency” category, if feasible, would eliminate that situation, spur competition, accommodate growth and benefit bidders, consignors and Proxibid.

If you feel as we do, and support of a “Coins and Currency” category, why not mention that to your Proxibid representative … or leave a comment here?

Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.


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