Note Flaws on Gold Coins

jewelryexchange0

Gold is a soft, malleable metal prone to scratches, test cuts, damage when removed from jewelry, and other details that decrease its worth as a collectible coin. In the photo above, Capitol Coin Auction notes scratches and marks from being poorly stored for more than a century.


The best houses on Proxibid take pains in lot descriptions to describe flaws in coins, and when it comes to gold, there are many.

In the 1880s, coin scammers tried to pass plated 1883 nickels, or racketeer nickels, as $5 gold, chiefly because the US Mint neglected to put a denomination on the coin other than the Roman numeral V. There were also plated fractional gold, coins holed or bezeled for jewelry, polished gold, and harshly cleaned gold.

All of these and other flaws should be mentioned.

Jewelry Exchange does a great job with this in its lots descriptions. Because the firm deals regularly in gold, it knows the range of damage that can occur. In this example, the lot description notes a $1 gold coin that was removed from jewelry, polished and soldered:

jewelryexchange

Another lot in the same auction included jewelry loops that left the rims of quarter eagle damaged:

jewelryexchange6

This auctioneer routinely ignores damage on gold coins. This one is obviously cleaned and, as such, worth a small premium over the worth of its metal:

jewelryexchange0A

Bidders not only seek gold for its metal content but also for their collections. These buyers are worth more to you than bullion seekers because they buy gold when the price is high or low. Give them the courtesy of an accurate description, and they’ll become return clients and, perhaps, consignors one day.

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.

Advertisements

Proxiblog is sponsored by …

Capitol Coin Auction


capitol

Check out Capitol Coin Auction’s upcoming auction slated Saturday, Oct. 25, on Proxibid. This is one of the finest Capitol auctions in recent memory. We’re bidding on multiple lots that have wide appeal.

Capitol Auctions, located in Evansville, Indiana, specializes in coin auctions. The company has more than 35 years’ experience in collecting, investing, and grading rare coins. Moreover, Capitol has numismatic quality photographs and accurate lot descriptions so that seller and bidder are informed transparently about value. Because Capitol relies in part on estate consignments, each Proxibid auction is an event, with top-quality silver and gold coins open for bidding.

Proxiblog has won lots from Capitol for the past three years, and its service is quick and professional. Raw coins purchased from Capitol, accurately described as grade-worthy, typically holder for us at PCGS. That said, bidding is always keen because of the desirability of the lots as well as the legwork that the company does for consignors, ensuring an audience and adding to the excitement online or onsite.

In addition to sharp photos and concise lot descriptions, Capitol publishes a catalog showcasing coins and informs bidders via an extensive mailing list. For large consignments, Capitol advertises in national periodicals like Coin World and Numismatic News.

Finally, Capitol Auctions is committed to providing a safe auction experience for buyers and sellers. It has a comprehensive privacy policy and its employees are trained to honor safeguard measures and the importance of confidentiality of personal information.

We thank Brad Lisembee and Capitol Coin Auctions for sponsoring Proxiblog’s scholarship fund to help ease student debt and create the next generation of auction-house bidders! If you would like to sponsor a week’s worth of Proxiblog, email mjbugeja@yahoo.com

Allen and Marshall Shoutout

allen and Marshall shoutout

Viewers of Proxiblog often see posts about self-slabbed and bottom-tier coins hyped by auctioneers to be worth thousands rather than pennies. Often our Honor Roll auctioneers set the record straight in their lot descriptions about these typically overgraded coins.

Suffice to say we had never heard of “Premier Certified Coins.” But we have heard of price guides.

Retail price for a 1909 VDB Red MS67 is $1350. Value of a 1943 MS68 steel cent is $2650.

Even without a blow-up photo, we see hairlines on the 1909 VDB above and spots on the 1943. Our value? About $25 for both coins, and that’s retail.

Kudos to Allen and Marshall for this lot description: “Draw your own conclusions on the grading.”

Which we just did 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.

Proxiblog is sponsored by …

Capitol Coin Auction


capitol

Check out Capitol Coin Auction’s upcoming auction slated Saturday, Oct. 25, on Proxibid. This is one of the finest Capitol auctions in recent memory. We’re bidding on multiple lots that have wide appeal.

Capitol Auctions, located in Evansville, Indiana, specializes in coin auctions. The company has more than 35 years’ experience in collecting, investing, and grading rare coins. Moreover, Capitol has numismatic quality photographs and accurate lot descriptions so that seller and bidder are informed transparently about value. Because Capitol relies in part on estate consignments, each Proxibid auction is an event, with top-quality silver and gold coins open for bidding.

Proxiblog has won lots from Capitol for the past three years, and its service is quick and professional. Raw coins purchased from Capitol, accurately described as grade-worthy, typically holder for us at PCGS. That said, bidding is always keen because of the desirability of the lots as well as the legwork that the company does for consignors, ensuring an audience and adding to the excitement online or onsite.

In addition to sharp photos and concise lot descriptions, Capitol publishes a catalog showcasing coins and informs bidders via an extensive mailing list. For large consignments, Capitol advertises in national periodicals like Coin World and Numismatic News.

Finally, Capitol Auctions is committed to providing a safe auction experience for buyers and sellers. It has a comprehensive privacy policy and its employees are trained to honor safeguard measures and the importance of confidentiality of personal information.

We thank Brad Lisembee and Capitol Coin Auctions for sponsoring Proxiblog’s scholarship fund to help ease student debt and create the next generation of auction-house bidders! If you would like to sponsor a week’s worth of Proxiblog, email mjbugeja@yahoo.com

Auction Empire Corrects Flip Info on Cal Gold

calgoldreplica

Ignoring the hyped information on the flip, proclaiming this replica as “gold” and “rare,” Auction Empire correctly labels this $1 value gold-plate fake a “replica.”

On this day in all the Proxibid auctions, you will not find a fake or replica California gold being labeled as the genuine thing. These brass and/or plated counterfeits have been giving the Secret Service fits since the 19th century. They are worth $1 or less. But we have seen phony lots sell on Proxibid for hundreds of dollars.

Our most popular post–California Gold: Real, Replica and Fake, which gets 100 hits per week–set the record straight on Proxiblog a few years ago. Among its recommendations is the requirement that all auctioneers cite the BG number from the Breen/Gillio Book on California Gold.

Brad Lisembee of Capitol Coin Auction shows how it’s done:

replica1

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, 51,000 Views; Proxiblog Takes Hiatus

Top six houses profiled here all offer something special to the coin buyer on Proxibid. Proxiblog, which continues to gain viewers worldwide, will be on hiatus to return Sept. 1, 2014. If you believe we are offering a valuable free service, posting every weekday–more than 700 posts since our inception, with 10,000+ photos–then please consider making a donation to our scholarship fund.


Capitol Coin Auction and Weaver Signature Coin and Currency Auction tie for first place in our rankings. They do everything right, from accurate numismatic descriptions to vivid photography.

Look at the care that Capitol takes with each lot description, this one showcasing a collection in which every coin therein is graded by auctioneer Brad Lisembee (click to expand photo):

capitol_shoutout

Same holds for Dave Weaver who accurately describes condition of each lot in his auctions. Here’s an example:

weavershoutout

John Leonard of Leonard Auction upholds the same standards as Lisembee and Weaver, providing excellent photos and descriptions. In our view he ranks among the most knowledgeable auctioneers on the Proxibid portal. A screenshot from his most recent auction:

leonardshoutout

For sheer number of auctions on Proxibid and the vast array of consignments–you’re apt to find almost any type coin here–few rival SilverTowne Auctions. From rare gold to tokens to slabbed coins and rarities, SilverTowne has it covered:

silvertowne_selection

Best service terms on Proxibid, in addition to sharp photos and low low low buyer’s premium, goes to Meares Auction. Darron Meares is an experienced auctioneer who strives for superior customer service in all of his dealings. Take a look:

meares_terms

Most improved is Back to the Past auction. C. Scott Lovejoy worked with us for weeks to perfect photography. Take a look at this half dollar reverse in which full bell lines are easily seen. Can your auction provide the same detailed digital photography? Would that several on Proxibid could. See the evidence:

backtothepast

Our rankings this month featured most of our old standbys. Several of our favorite houses–Southwest Bullion, Western Auction, Krueger and Krueger–are low in our rankings only because they have not offered an online Proxibid session in the recent past. We value their operations so very much. Also this month one house was dropped because of sale of replica California gold. Two houses were added, A New Day Auction and Allen and Marshall Auctioneers. Concerning the latter, we were impressed with this lot description on bottom-tier holders:

allen and Marshall shoutout

As we always note, our rankings are just that–ours. These are favorite houses. Your experience may differ from ours.

As for Proxibid, we surpassed 50,000 views last month. We approached 15,000 views in the past year. The map below shows our global reach.

proxiblog_yearworld

We will be reconfiguring and updating our website during the summer. We also are in the process of kindling a new numismatic book, available soon on our site, for online coin auctions, featuring best practices for selling on Proxibid and eBay. We hope you will download a copy when it becomes available. We hope that you find our site helpful.

If so, please consider making a donation to our scholarship fund, which is why we share our numismatic knowledge with Proxibid auctioneers and buyers, helping defray student debt to ensure the next generation of auction bidders.

Thank you for visiting our site.

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, 2000 Views per Month

Proxiblog’s Coin and Currency category did not add any new auctions to our favorite sellers list; however, a half dozen or so improved so that a full 16 houses earned a 24.5 out of 25, showing continuing improvement.


Weaver Signature Coin and Currency Auction takes the top spot again this month with SilverTowne a close second, thanks to a dazzling array of quality rarities. Both Weaver Auction and SilverTowne provide good descriptions, quick shipping, and regular auctions.

Weaver has slightly better photos, earning that house the sole 25-point best ranking.

Leonard, Capitol, Meares and Fox Valley all boast great photos, consignments, service and descriptions. In most cases, houses failed to score a full 25 points because of problems with photos or higher than average buyer’s premiums.

Rounding out the top 10 are Back to the Past, Star Coin and Currency, Certified Rare Coin Auctions and Five Star Auction.

It should be noted that some of our favorite houses are not offering as many auctions on Proxibid. Those are dropping in the rankings because of that. But we’re always on the lookout for their return.

Also keep in mind that our favorite houses are just that–ours. Your experience may differ from ours.

As for Proxiblog, we have exceeded 50,000 page views. In the past month, we surpassed 1820 views worldwide. We’re increasingly global with top views from the USA, Britain, Canada, India, Russia, Germany, Australia and the Philippines. Once again, the most accessed post was California Gold, real, replica and fake. That post averages between 50-100 views per month.

We continue to provide best practices and numismatic knowledge to our viewers for free. Please consider making a donation. We post every weekday and do this for educational purposes, informing viewers about numismatics as well as funding scholarships for Iowa State University students.

Fortunately, we have several of our top houses donating funds to our scholarship account. You can also buy our Basic Coin Design book on Kindle. We are extremely grateful. Won’t you consider making a tax-deductible donation to the Iowa State Foundation so that we can continue publishing? Thank you for your consideration!

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.