Capitol Coin Wins “Best Auction” a Second Time

7Best Coin Auction

Capitol Coin Auction has won our award for “Best Coin Auction” on the Proxibid portal, garnering “Best Shipping,” “Best Photography,” and “Value Added” honors with honorable mentions in “Best Descriptions” and “Best Consignments.” This is the second year in a row that Capitol Coin Auction has won the top honor.

A close second, once again, was Leonard Auction. It won “Best Consignments” with honorable mentions in “Value-Added,” “Best Photography” and “Best Descriptions.”

Star Coin and Currency made a great showing this year, winning “Best Timed Auction” with honorable mentions in “Most Improved,” “Best Descriptions” and “Best Shipping.”

Southwest Bullion and Coin also had a particularly successful year in our rankings, winning the competitive “Best Descriptions” category and honorable mentions in “Most Improved” and “Best Photography.”

SilverTowne Auctions won “Best Shipping” and had honorable mentions in “Best Descriptions,” “Value-Added” and “Best Consignments.”

Meares Auction won “Most Improved” and had honorable mentions in “Best Shipping” and “Best Consignments.”

Weaver Signature Coin and Currency Auction had honorable mentions in the important categories of “Best Photography,” “Best Descriptions,” “Best Consignments” and “Value-Added.”

The houses above are runners-up in our “Best Coin Auction” category.

We also praise and recommend our other houses that placed in our various competitions, including:

  • Back to the Past Collectibles
  • Black and Gold Auctions
  • Braden Auction Services
  • Decatur Coin and Jewelry
  • Engstrom Auctions
  • Five Star Auction
  • Fox Valley Coins
  • Gary Ryther Auctioneers
  • Heuckman Auction
  • Jewelry Exchange
  • Kaufman Realty and Auction
  • McKee Coins
  • Midwest Coins
  • Rolling M Auction
  • Schultz Auctioneers
  • Western Auction

We encourage all of the houses named above to continue improving in the spirit of service, competition and community that all auctioneers and numismatists share, serving our clients and memberships. Continue to embrace the ethics of both the National Auctioneers Association and the American Numismatic Association.

We also thank Proxibid for its Internet options, quality control and customer service and all houses specializing in coins. We encourage them to visit these award-winning houses above. We know there are some houses that we missed in our rankings; as always, our experience may differ from yours and you should consider these award-winners our favorites. In sum, we did the best job we could with the available data and hope that you will continue visiting our site and interacting with our clientele, now exceeding 26000 views since inception.

Finally, consider making a donation to our Scholarship Account. (See details on top of the “Rankings” sidebar to the right.) We will continue publishing Proxiblog free of charge and covering Proxibid and the online coin auction industry. Won’t you consider making a voluntary donation to offset tuition expenses for our college students?

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

Leonard Auction Wins … “Best Consignment”

3Best Consignments_Leonard

Leonard Auction, operated by John Leonard of Addison, Ill., has won the category of “Best Consignments,” based not only on the caliber of rarities but also on raw coins that actually grade as described with PCGS or NGC. Fox Valley Coins was a very close second with its Nov. 23, 2013 auction featuring some of the best coins we had seen all year.

Western Auction won the category in 2013 and also in 2012, tying in that year with James Peterson Auction. This year both of those companies were included in Honorable Mention along with Fox Valley Coins, SilverTowne Auctions, Capitol Coin Auction, Kaufman Realty and Auctions, Weaver Signature Coin and Currency Auction, and Decatur Coin and Jewelry.

To give you an example of coins that John Leonard routinely offers, look at this slate of brilliant gold coins augmenting top-notch raw key date silver lots.

leonard_consignments

Some of Proxiblog’s acquisitions from Leonard have been profiled in Coin World, as in this piece.

Among the best auctions in 2013 on Proxibid was the Nov. 23 session by Fox Valley Coins. See this slate of Morgans as an example:

FoxValley

The condition of coins in that auction had the look of “age,” lots stored away for decades in some vault or bank box. Bidding was frenetic, with almost every cherry lot selling at retail; or above.

Meares Auction Group also came close to winning with recent bankruptcy auctions. Darron Meares, auctioneer, also has some of the best terms of service on the portal, with low buyer’s premiums.

SilverTowne Auctions consistently offers some of the best lots on Proxibid. It holds more coin auctions than any other company on the portal and thus was a very strong contender.

And our long-time favorite, Weaver Signature Coin and Currency Auction, continues to impress us with frequent quality auctions, innovations and new directions.

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.

Southwest Bullion and Coin Wins … “Best Descriptions”

1Best Descriptions

Southwest Bullion and Coin, operated by Justin Quinn–a top-ranked house through much of 2013 on Proxiblog–has won the category of “Best Descriptions,” based on numismatic knowledge–especially the ability to identify flaws and rarities in consignments and to honor basic ethical tenets with regard to value.

As was the case last year, this was a hotly contested competition, as you will see in the Honorable Mentions category, with seven houses also cited for best practices in descriptions. Capitol Coin Auction won this category last year and was a very close contender again this year mainly because of the grading prowess of Auctioneer Brian Lisembee. SilverTowne Auction, a previous winner, also was a strong contender.

Other Honorable Mentions are Jewelry Exchange, Decatur Coin and Jewelry, Leonard Auction, Star Coin and Currency, and Weaver Auction.

Click and expand the picture below to see how Justin Quinn describes value in this ANACS-graded coin.

southwest

Southwest’s accuracy in descriptions led to three separate posts last year:

As noted previously, several Honorable Mention houses came close to winning this year. SilverTowne’s Dave Nauert and Rick Howard continue with succinct and accurate descriptions of flaws as well as highlights for each coin. John Leonard of Leonard Auction is a conservative and respected numismatist; Dave Weaver of Weaver Auction is combining better photos with accurate descriptions; and Jim Haver of Star Coin and Currency does similarly with weekly auctions.

Finally, Dave Bluestein is so skilled in descriptions that he co-hosts a radio show “In the Money” in San Antonio.

Accurate numismatic descriptions are mandatory in Proxibid auctions because online viewers cannot always discern flaws in coins. These houses are aware of that and go the extra mile because the pay-off is return customers.

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.

Photos that Repel Bidders

blurryAuctioneers have an obligation to depict coins photographically as accurately as possible. Here is a selection of photos from recent Proxibid auctions that caused us to stop looking at lots or look only at slabs by PCGS, NGC, ANACS and ICG. You owe it to consignors to improve photography. See how a coin photo should look below and then compare bad examples beneath it.


This is how a photo should look on Proxibid, by our top house, Decatur Coin and Jewelry (compare it to the photo above).
decatur


We no longer bid on raw coins in this auction, which does everything right except photography. Two problems with this house. It seems to get dipped coins by regular consignors so we cannot trust the lot description. There is no way to discern luster on this coin because the photography is dull.
cantbid


This house slants and over-lights its coins so that condition is obscured. We pay no attention to the lot description as again, this house has proved unreliable in that category.
cantbid1


This house uses a flash instead of natural light or two fluorescent lights and so washes out all traces of condition.
exposed


This house slants, misplaces, over-exposes and only includes obverse photo–example of the worst practices on Proxibid which, unlike eBay, lacks photograhpic standards for coin lots.
noreverse_slanted_poor


Because Proxibid lacks such standards, we hope you view Proxiblog to enhance your consignments, build trust with bidders and get return customers. After all, you’re paying the fees for technology. Use it wisely with sharp photography.

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.

Update Your Email and Network Socially for Bidder Interaction

Some auction houses on Proxibid do not include their email addresses, thus eliminating bidder interaction that typically means more and higher bids. Other auction houses are savvy enough to add an “info” account to their email services, engaging bidders and ensuring return sales. The auction business is changing as more bidders migrate online. Would you ignore onsite sellers who stop at your house to see lots? Don’t ignore Internet bidders. Instead, correspond with them on your site and on social networks.

update email


Recently Garrison Auctioneers sent us an excellent example of how to open an information channel with your bidders and ensure that your messages are being received rather than trashed by browser settings. The photo above features text that reaches out to the Internet audience. You should be doing the same.

Engstrom Auction, Weaver Auction, SilverTowne Auctions, Leonard Auction and nearly all of our top-ranked houses have been doing this for years. It’s time for you to do the same, if you want online sales to increase.

Decatur Coin and Jewelry not only interacts with online bidders but also uses social networks, again as many of our top houses do. See example below.

decatur_facebook

When Decatur Coin and Jewelry sends an email, it reminds bidders to “like them” on Facebook. (We did!)

The auctioneering business is changing rapidly. We have been at the forefront of advising you on best practices. Pay heed, and buyers will pay you back with compliments and bids.

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.

Decatur Coin Featured in Coin Update News

decatur
Coin Update News, one of the most accessed numismatic websites, has featured a Proxibid auction by Decatur Coin and Jewelry, noting how dealer Bennie Strumpher grades coins rather than holders, and as such, offers choice consignments from his buying trips.

Earlier this month we sent five SEGS coins for crossover consideration at PCGS, noting that they were purchased from a reputable coin dealer known for grading prowess.

Decatur Coin and Jewelry has a reputation for purchasing the best coins regardless of holder. In addition to a detailed lot description for each coin, dealer Bennie Strumpher notes that each coin came from one of his special buying trips, had “attractive high eye appeal” and “superior quality for the assigned grade.” In his coin-show searches, he and his team only buy 2 out of every 100 coins they inspect. He adds, “All of these coins we would buy for our own collections, so keep in mind that each coin offered here has to get past our eyes before it gets to yours.”

Decatur Coin is one of our trusted sellers because Bennie can grade, regardless of holder.

To read the entire article, click here.

Get Catalogs Up at Least a Week Prior to Sale!

nocatalog
We are flummoxed by auction houses that wait until the last minute (typically day or two) before posting their catalogs. Likewise, we are impressed by houses like Capitol Coin Auction and SilverTowne that post their catalogs months or weeks in advance. The latter take advantage of free advertising in the Coins and Currency category of Proxibid.

The photo above is for one of our favorite auction houses with a Proxibid session four days from the writing of this post. It still doesn’t have a catalog. Also, this house is known by frequent bidders to be very slow in shipping coins. Probably only one person is assigned to do the entire auction from photos to shipping. Too bad. The company is losing out to early bird posters like Weaver Signature Coin and Currency.


True, there are risks posting catalogs too early, especially if your house is selling bullion with reserves or consignor-set opening bids. Silver and gold prices change daily and so those opening bids might not apply weeks in advance. However, late posting does not apply to auction houses that do not see maximum bids or allow shill bidding and that feature choice consignments. You’re simply missing out on an opportunity to showcase those consignments so that bidders like us can decide where to spend our hard-earned auction dollars.

On occasion, with our favorite houses such as Western Auction, for instance, we will email the auction house and ask when the next catalog is expected to be posted, so that we can budget accordingly.

We’re not alone. There are major buyers, bidders and resellers who target favorite houses and who bypass others with tardy catalogs.

If you’re going to pay Proxibid and APN fees, and print catalogs and advertise your sessions, you should be prompt in posting catalogs to keep pace with growing and intense competition on the portal as new companies like Tangible Investments and Decatur Coin and Jewelry–and veteran ones like Meares Auction Group, Leonard Auction and Gary Ryther, among others–set new standards in the Coin and Currency category.

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.