Proxiblog’s next to last rankings of 2012 shows the level of competition by some of the best houses on the portal. Our rankings are based on our personal experience. Your experience may differ from our reviews. That said, let’s look at the innovations being made on Proxibid.

So very little separates our top 10 houses. Western claims the sole #1 spot because of superior consignments that grade well with the most rigorous holdering company in the business, PCGS. Speaking of PCGS, Weaver Signature Coin and Currency Auction sold a rare Regency holdered Morgan, which we won in a bidding war and which is being profiled in an upcoming edition of Coin World!

Whenever Leonard Auction and Capitol Coin Auction host a Proxibid session, you can be sure of some of the best consignments being offered with PCGS-accurate grading … and intense bidding. Auctioneers John Leonard and Brad Lisembee rank among the most knowledgeable and competitive coin sellers in the business. You can count on their photography, too. We’re never disappointed.

Sean Cook and Larry Fuller also are consummately professional graders. Cook manages Liberty Shops Auctions, a house that continues to rise in the rankings because of 0% buyers’ premium and fine photography with inexpensive, quick shipping. We’ve touted Larry Fuller of SilverTowne more than any other grader on the portal. Larry had to take a short break in the past few months. We didn’t realize that but saw a small decrease in grading. That’s how we found out about the hiatus of our friend, who is back and grading again, for which we are thankful.

SilverTowne also has scheduled regular timed auctions. Some real bargains can be had there.

We also appreciate Darron Meares of Meares Auction, one of the most knowledgeable and accomplished auctioneers in the country. He’s making innovations again in lower buyer’s premiums and catering to the seller in stiff competition. We bid often in his auctions, but we do so wholesale, as our intent is to slab and sell our coins and help our scholarship fund. But we have a hard time winning anything wholesale in Meares’ auctions because he’s an expert at drumming up competition. Our hat’s off to him!

Eddie Caven of Key Date Coins provides some of the best coin photography on the portal. He’s been specializing in MS63-65 Carson City dollars, which always brings a crowd, as well as an assortment of older mint sets and uncirculated Franklin halves, among other denominations.

Mark Murphy of Rolling M. Auctions draws competitive onsite and online crowds and offers a good selection of slabbed coins from top companies. We also like Kaufman Realty Auctions whose consignments are nifty. Shipping is a tad slow, though; but if you’re patient, this is a great place to acquire Morgans and uncirculated rare silver denominations.

Back in our top companies is Jackson Auction, which recently had a terrific session with Morgans and slabbed coins from superior grading companies. Auctions Unlimited has a low 10% BP and has offered of late a good selection of mint sets, including rarer prestige ones.

And then there is the slow riser, Back to the Past Collectibles, creeping up from the lower ranks to the top tier of our rankings. We’re seeing increasingly delectable consignments, acceptable photographs and low buyer’s premiums.

We’re also buying from Midwest Coins, which has relaunched with new emphasis on bidders. Owner Charles Commander is a numismatist who ships quickly and is always on the hunt for good consignments.

Consider these top companies Proxiblog favorite sellers, much like you might find on eBay. We’ll continue to bid with new houses and patronize ones in our rankings to cover as many old and new coin auctions on Proxibid. As we state regularly, you may have a different experience as auctioning coins is complex, requiring numismatic skills, labor-intensive photography, and target marketing.

We remain amazed at how our top houses continue to produce, month after month, and serve the hobby.

And as always, we thank sponsors of Proxiblog. You keep us posting, and your generosity is appreciated. Sponsors are invited to showcase their companies, and we only invite those houses whose practices we have known in the long term. We reserve that right. We don’t advertise. We don’t accept payments to us personally as all donations go through the Iowa State Foundation’s scholarship fund.

Finally, we thank Proxibid, especially Jason Nielsen for establishing ever stronger quality control measures. We are an independent site, dedicated to covering the company which, we believe, offers the best coin buys of any portal, including eBay.


Weaver Regains Top Ranking

Weaver Auction has regained our top spot, but two other houses essentially are in a virtual tie.

New rankings are getting more difficult to assess, with a virtual tie between three top houses–Weaver Signature Coin and Currency Auction, Western Auction and Silvertowne. Each have special qualities. Weaver is among the most innovative and competitive. Western’s consignments and photos are among the best on the portal. Silvertowne has more coin auctions than any of our top houses with expert lot descriptions.

Engstrom Auction is not far behind in all categories. We especially prize the company’s feedback loop in a commitment for continuous improvement.

United Country–Shobe Auction has broken into our top 10. Its low buyer’s fees (12.5%) among other customer-friendly terms are highlights of its auctions. We hope it features more coin auctions, as that is a consideration now in our rankings.

Gerritsen Auctions, Auctions Unlimited, Bennett Auction Service, Back to the Past Pop Culture Warehouse, and Brian’s Auction Service are among newcomers to our rankings and always worth a look.

We include some houses that see maximum bids or allow consignor/auctioneer bidding in our top 20. We exclude them from the top 10. While we purchase frequently from these houses because of their consignments, we feel they do not need to allow these questionable practices.

Also, it is important to note that some of the best coin auctions on Proxibid have higher buying fees for Internet bidders, such as Leonard Auction and Capitol Coin Auction. But they make up for that with superior service, expert grading and excellent consignments. You should check out those and other auctions on Proxibid, always reading terms of service before placing a bid.

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.

New Rankings Reflect Competition

Recently Proxibid reported a 29.3% increase in coins auctions from 2010 to 2011, with a 36% increase in the number of coin auctions in the first quarter of this year. More competition has led to new rankings, as newcomers offer choice consignments with low buyer’s fees and specials. How will your house respond?

Gone are the days when Proxibid auction houses could dictate terms online, ghost-bidding lots, hyping descriptions, posting blurry photographs of only one side of a coin, and charging as much as 22% online fees while lacking APN clearance and using third-party shippers.

In part, Proxiblog has played a role in numismatic quality control. Proxibid also has done its share in creating more of an even playing field, posting APN buttons and transparency notices to alert bidders to houses that see maximum bids or allow consignor and auctioneer bidding.

As a result, we have seen competitive houses such as Silvertowne drop maximum-bid viewing, reclaiming its third-place slot behind Weaver Signature Coin and Currency Auction and Western Auction, which finally has overtaken Weaver based on slightly better photography (showing luster) and equally choice consignments.

Breaking into the top 10 are Bennett Auction Service with a 9.5% online buyer’s fee, good photography, APN clearance, cheap shipping, and no viewing maximum bids or allowing consignor bidding. However, the house doesn’t specialize in coins, and a consideration in our rankings is the number of coin auctions each house schedules in a month. Silvertowne is among leaders in that category with the best lot descriptions on Proxibid because of veteran numismatist Larry Fuller.

Kaufman Realty also has broken into the top 10 with increasingly accurate lot descriptions, regular coin auctions and improved photography.

Also in the top 10 is Back to the Past Pop Culture Warehouse. This house offers a 10% buyer’s fee, $5 flat rate shipping on coins and good photography. After it viewed Proxiblog, seeing that we advocate for photos on both sides of a coin, Creative Director Scott Lovejoy immediately posted reverses of all coins before an upcoming auction and quickly rose in our rankings.

Our Honor Roll houses now number 88 offering low buyer’s fees, good photography and reasonable shipping. In May 2011, only 11 houses on Proxibid met these criteria.

Other newcomers have risen in our top 21 slots, including Auctions Unlimited and Brian’s Auction Service.

Not all Proxibid coin auctions have responded favorably to the new competition. We no longer purchase coins from them because they refuse to upgrade photography, clinging to harsh service terms and hyping lot descriptions.

Conversely, there are houses whose consignments and in-house practices are so trustworthy that we eagerly await their auctions. These include Leonard Auction and Capitol Coin Auction. While they charge online buyer’s fees between 17-20%, they offer the superior consignments and lot descriptions that stand up to PCGS standards.

Nonetheless, if they took a chance in an auction and reduced their online fees to 15%, we believe their bottom lines would rise significantly in a few months’ time.

Finally, coin auctioneers should realize that mega houses such as Teletrade and Great Collections are in the process of competing with each other and Proxibid. Teletrade offers no-reserve, 0% buyer’s fees on Tuesdays. Great Collections offers 10% with “Buy Now” specials and other enticements.

In an Internet world, like it or not, you are competing with the likes of megahouses (including Heritage). We advise to embrace the competition and figure out creative ways to attract return customers, offering specials and treating online buyers with the same courtesies as your onsite crowd.

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.