New Rankings, More Than 40,000 Views!

Competition among coin-selling houses on Proxibid continues to be intense, with more houses making small enhancements that result in big gains with online bidders. For the first time ever in our rankings, three houses–Southwest Bullion and Coin, Capitol Coin Auctions, and Decatur Coin and Jewelry–earned perfect 25-point scores based primarily on low or zero percent buyer’s fee with accurate numismatic descriptions, sharp photography and quick, inexpensive shipping. Other top-house standbys continue to focus on continuous improvement, indicating that standards are rising with consignments across the portal in the coin and currency category.

SilverTowne Auctions, Leonard Auction, Weaver Auction, Western Auction, Gary Ryther Auctions, Meares Auction, Engstrom Auction, Star Coin and Currency, and Jewelry Exchange, focus on the basics and earn our respect as our favorite houses. Each has innovated a component of their auction. Consignments continue to be cherry.

What passes for second-tier in our rankings would have been top houses a year ago–yet another indicator of improvement on the portal. In fact, we’re excited when any of them schedule an auction because we admire their customer service and consignments. Each of these houses has something special to offer the bidder and consignor, for that matter!

We also commend other companies on our list that may still need a little work on photography, shipping or lot descriptions.

As we always note in our rankings, these are based on our experience and should be considered Proxiblog’s favorite houses. Your experience may differ from ours.

As for Proxiblog, we took a break in August to welcome students back to campus. We provide this blog for free to raise scholarship money via our online account with the Iowa State Foundation and via our numismatic work, Basic Coin Design, on Amazon Kindle.

Our audience keeps growing! On Aug. 23, 2013, we surpassed 40,000 views!

views

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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New Rankings, New Houses, Almost 40,000 Views!

Competition among top coin-selling houses on Proxibid is becoming increasingly keen meaning houses that do not strive for continuous improvement will find their numismatic buyers bidding elsewhere. We continue to see erstwhile top houses fall in the rankings because of slow shipping or photography incapable of capturing luster. We can no longer bid here on raw coins but continue to bid on slabbed ones because these houses manage to secure good consignments by PCGS, NGC, ANACS and ICG. We no longer will bid on bottom-tier slabs, even considering them raw, because we usually encounter problems when submitting to a top holdering company. It will be difficult for anyone to match Decatur Coin Auction’s premiere session on Proxibid. Capitol Coin Auction, Leonard Auction, Western, Weaver and SilverTowne remain solid stand-bys. As for Proxiblog, we are approaching 500 posts and 40,000 views since our inception in May 2011.

Decatur Coin Auction is featuring top numismatic consignments and zero buyer’s fee. Opening bids were below greysheet, sparking competition. Its “Buy It Now” Auctions feature the same lovely lots but without the excitement of a live or timed auction. We hope to see more sessions such as Decatur ran on July 9th.

Capitol Coin Auction has roared back with another fabulous quarterly auction. It and Leonard Auction remain premiere places to find rarities. Weaver and Western auctions continue to offer top lots with excellent customer service. SilverTowne is impressing us with dozens of auctions each month and occasional fabulous consignments. Its grading remains up there with that of our most favorite houses.

Gary Ryther Auctions continues to improve, moving up in the rankings. So has Meares Auction, Engstrom Auction and Midwest Coins. Back to the Past Collectibles continues to sell desirable coin lots and retains a top spot on our list, featuring a low 10% buyer’s fee.

Spencer Auction makes our list this month, hosting more coin auctions with mostly slabbed coins and 15% buyer’s fee. It doesn’t accept APN so that delays shipping. Matthew Bullock Auctioneers returns to our list after several months of no coin auctions. We’re happy to see that as this house has sharp photography and good consignments.

Our top houses all feature one or more of the following:

  1. Lower buyer fees. We prefer 15%. We like 10%. We fancy 5%. We love 0%.
  2. Numismatic lot descriptions. Note flaws and bone up on grading, reading our “Find the Flaw” articles.
  3. Sharp photography. Obverse, reverse and expandable digital shots.
  4. Quick, inexpensive shipping. Some companies take 2-4 weeks to ship. That’s unacceptable. Coins should be sent within 5 business days.
  5. No maximum-bid or shill-bidding. Do that, and you will not qualify for our rankings. Reason? We do not have faith in our maximum bids when we see those transparency notices, no matter the good intentions of auction houses.

Some houses fell in the ranking because they are not improving their photography or because of slow shipping, problem coins, etc. We are worrying about a few of our favorite houses whose photography cannot capture luster on raw coins and that seem to be taking consignments from coin dealers sending their cleaned, polished or altered coins in each session. We worry about seeing more and more coins in slabs by bottom-tier companies.

In our opinion, slow or outsourced shipping, poor photography, inadequate descriptions and high buyer premiums (along with lack of APN), are signs that a house has not yet adapted–or is unwilling to adapt–to the Internet.

Given the convenience of flat-rate shipping with packages picked up at your door, we’re flummoxed when houses take 3-4 weeks to send out coins. If you cannot do basic photography with the type of enhanced, low-cost equipment at your disposal, including smart phones, then you are short-changing yourselves and your consignors.

That said, our rankings are reviews of favorite houses based on our buying and/or selling experience and numismatic expertise. Your experience with our top houses may differ from ours. Our intent is to educate and praise whenever possible–to our own buying detriment, at times! We have seen when we showcase an auction house how bidding becomes more intense, often edging out our own bids.

Good news is that more auction houses are contributing to our scholarship fund. We distribute Proxiblog for free. All we ask is that those who appreciate our efforts make a small contribution to help college students defray debt. You can make the contribution directly online to the Iowa State Foundation.

Our viewership continues to grow. we had more than more than 1,500 in 30 days and are approaching 40,000 lifetime views from all over the world.

July views

The favorite and most accessed page? “How and How Not to Describe Bottom-Tier Slabs.” The all-time most favorite post? “California Gold: Real, Replica and Fake,” which gets on average 50 views per week, indicating once again that auctioneers need to take care before they label those tiny yellow tokens “gold.”

We routinely report counterfeit or misidentified coins using the “Report this Item” link. We continue to applaud Proxibid for using this function.

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.