Tag Archives: Howard’s Coin Shop

New Rankings, New Top House

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Silvertowne Auctions has overtaken two of Proxiblog’s favorite houses, Western Auction and Weaver Signature Coin and Currency Auction, to ascend to the top of our rankings, primarily because of the consistently reliable grading and lot descriptions of veteran numismatist Larry Fuller and frequent top-quality coin auctions by Rick Howard.

Back in the top rankings after several months’ hiatus is Matthew Bullock Auctioneers, which has some of the best coin photography on the portal and choice consignments accurately described.

New to the sidebar rankings are Leonard Auction and Capitol Coin Auction, both of which charge more than 15% buyer’s fee and had been excluded in the past from our top houses. But based on those auction houses’ superior consignments, numismatic knowledge and excellent customer service, we have amended our rules and will list exceptional companies like these in our rankings.

Also making an initial appearance is Southwest Bullion, which recently set online buyer’s fees at zero, with APN clearance and flat-rate shipping. We saw auctioneer Justin Quinn add rare and precious metals to one third of his lots, and we bid $15,000+ but failed to win one item, as most lots sold at retail or above. How does he do it? We suspect he is buying consignments directly rather than going through out-of-town coin dealers. Watch for a post on that this week.

Finally, Chaparral Trading Company made our rankings, featuring lower 15% online fees, good photography and other amenities.

You’ll also notice some of our regular top 20 houses missing from the new rankings. After several complaints from peer auctioneers and online coin buyers, we have decided to omit from sidebar rankings any house viewing maximum bids or allowing auctioneer/consignor bidding. We have run a half dozen articles on why these practices are frowned up, even when the auctioneers honestly only want to know where limits on an item are. Problem is, other houses take advantage of these computer-assisted irregularities. We’ve heard all the justifications and excuses. Fact is, ghost-bidding is unethical. Shill bidding is unethical. Auctioneers should know the wholesale value of items, especially coins, and can pass on underbid lots. And if consignors buyback their own coins, auctioneers can penalize them with fees.

For more on this issue, read this article.

In closing, please know that several of these houses seeing maximum bids are entirely reputable. We patronize their auction houses. We admire their auctioneers. But we have to institute this policy in keeping with Proxibid’s own standards and new badge rankings, which add a level of transparency and quality control, sure to enhance the portal’s reputation.

Congratulations to all in the top 20. Competition is stiffer than ever on Proxibid.

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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Silvertowne wins “Best Descriptions”

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Silvertowne Auctions, operated by Rick Howard of Leipsic, Ohio, in partnership with SilverTowne Coins of Winchester, IN, is a first-class house featuring several Proxibid coin auctions per month.

This was a close competition, as you will see in the Honorable Mentions category, with several houses named whose auctioneers also are expert numismatists. The chief reason we chose Silvertowne has to do with 74-year-old Larry Fuller whose official title is “online auction specialist.” Larry has been a collector and dealer for more than 50 years. His philosophy in writing lot descriptions is an accurate grade.

In an upcoming article in Coin World, Larry states, “When I was a dealer, if I sold a coin, I felt I should be ready to buy it back at the same grade.”

Fuller believes that reliable grading and accurate lot descriptions are key in attracting return customers online. He is noted for short, crisp descriptions with information you can rely on. Here’s an example: “RARE!!! THIS IS NOT THE CHEAP D/D. THIS IS THE COIN WITH A D WELL SOUTH OF OTHER D.”

Why not send Larry Fuller a congratulatory note?

Several Honorable Mention houses gave Fuller a run for his “money,” literally. They include tiptop lot descriptions based on numismatic knowledge, a regular feature of Capitol Coin Auction, Key Date Coins, Leonard Auction, Silver Trades and Weaver Signature Coin and Currency Auction.

We also congratulate Silvertowne and thank our runners-up for sharing their numismatic knowledge supported by fine photography, a component in our analysis.

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.

Boos & Booyahs: Best & Bad Auctioneer Lot Descriptions

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It’s more important now than ever with the new Proxibid redesign to showcase your photos, hone your lot descriptions, and highlight your consignments for top bids on the leading portal! In the latest installment, Proxiblog laments and compliments best and bad auctioneer lot descriptions during the past week. We will name the best, but you will have to search Proxibid for the bad. (Click pictures to expand and view lot descriptions below.)

Booyah Black and Gold Auction! for noting rim dings that many auctioneers overlook when selling coins but that affect the grade.

Boo! to this unnamed auction house that states that an 1911-D quarter eagle is the key to the series but inappropriately leaves out the reverse picture of the coin, knowing there are “strong” and “weak” “D”s worth hundreds of dollars’ difference in price. Actually, only the “strong” D is key to the series; but would you place a high bid in the thousands without seeing the reverse? Would you pay $5,000 for seeing only half of a used car? (You get the picture–NOT.) This house specializes in coins, too. Sigh.

Booyah! to Hradil Auction for noting that a coin is a copy. It’s important to state that even if the word “copy” is on a flip or visible on the coin itself. You never want to be accused of selling copies without identifying coins as such.

Booyah! to Hi Dollar Auction for noting that this set lacks the original envelope–a fact that few auctioneers would bother to state but that one which affects value. Nice job.

Booyah! to Munda Auction for providing good photos and stating that this coin has been polished. Again, it’s important to note that in the lot description even if the word is on the flip.

Boo! to this unnamed auction house that quotes the PCGS price list for a coin holdered by a lower-tier entity. You have a PowerBall’s chance of getting $3300 for this coin. And why the estimated value of $300? This coin will most probably grade MS68 or MS69, with the latter worth $38.

Booyah Leonard Auction! for calling a bottom-tier company’s grade for what it is–polished and buffed. This is how you do it without citing PCGS’s price list for this coin.

Booyah! to Scott Auction for noting scratches that might not be visible on the coin from the provided picture. Yet another lot description that helps the reputation of the auctioneer.

Booyah! to Silvertowne Auctions for noting cleaning and other defects on coins. Larry Fuller’s reputation as a grader is one of the reasons bidders look to Silvertowne for lot descriptions.

Booyah! to Weaver’s Auction, our top house, not only because of the great consignments but also because of the lot descriptions that note coin doctoring. Thank you, Dave and Cheryl Weaver!

Viewers can point us to other candidates for our “Boos & Booyahs!” series. Just leave a comment but follow our rules–all in good fun as a way to inspire accurate lot descriptions on Proxibid.

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.

Post Pics Early to Jump Start Bidding

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Proxiblog has given advice on photography and showcased some of the best on Proxibid. When and what order you post also can give you an edge.

Some houses consistently beat the competition both in the quality of photography and when and what they post first, to jump start bidding. For instance, Rolling M Auctions, Silvertowne, Western, Capitol Coin, Leonard Auction, Key Date Coins, Jewelry Exchange and Fox Valley post photos several weeks to a month in advance, knowing that collectors and buyers on Proxibid are looking for certain coins and will bid early and often to claim them.

We know it is difficult for small houses or even one- or two-person operations to photograph consignments and post the entire auction online in a timely manner. For those, we recommend photographing certain coins first and posting lesser lots later.

If you’re using a specific coin as your “header”–the photo that showcases your auction, as in this 1875-CC Trade Dollar by Silvertowne–then be sure to post that first. (Click picture to expand.)

Then follow with your most expensive or showcase lots. After those, coins slabbed by PCGS, NGC, ANACS, ICG. Then add all raw coins worth $200 or more, $100 or more, and finally $50 or less, including common proof and mint sets and modern commemoratives.

Certainly, there will be exceptions to these suggestions. Use your best judgment. The point is, those houses that post early and completely are going to snag bids on lots that you might plan on featuring. Get your best lots up as early as the largest houses, and you’ll see increased business on Proxibid.

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.

Portal Competition

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One of our top houses, Silvertowne, is spurring competition–not only by offering buyer’s rebates on its already Honor Roll standards but also discounting fees for gold in its upcoming “Rare Coin Auction”… and all on iCollector, too.

Proxiblog fosters competition in the auctioneer tradition, so we are pleased to hear about top-house Silvertowne Auctions scheduling an Oct. 26 noon special sale on competitor iCollector.

Silvertowne not only sent an email blast in top advertising fashion, such as Weaver Coins specializes in (click here to see sample), but also used the digital version of the sale for postcards labeled “Rare Coin Auction October 26 Noon.”

Silvertowne offers a 10% rebate on purchases of all $20 gold or any gold item of 1 ounce or more. All other purchases purchases from the sale get a 5% rebate, matching 10% buyer’s fees from Western Auction (among the lowest on Proxibid).

Proxiblog, as its name suggests, previously had bid only on the Omaha-based company’s auctions primarily because of exemplary customer service whose representatives remain among the best in the business. However, as all manner of new rules and oversights have been imposed, from bid retractions to bidder identifications, with little discretion left to customer service representatives, we might as well start bidding on iCollector, too … especially when there are sales such as this.

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.

Altered Coins on Proxibid

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This is a short post that exposes the bad and the good on Proxibid.

In the past month we have received four lots of doctored, dipped and ungradable coins. In two cases, we believe, the auctioneers oft-stated exclamations that they are not coin experts resulted in coin doctors sending them fraudulent consignments. That, coupled with acceptable (for Proxibid) but still substandard photography, hid the alterations.

In another case, we believe, the way an auctioneer photographs coins is to blame as he typically shoots coins against a black background with strong lightning, a technique that unintentionally hides dipping.

We no longer will purchase any coins from him or those who sell, even once, altered coins, as their judgment cannot be trusted, especially with their all-sales-final terms of service.

Some of the doctored coins were so skillfully done that they escaped our detection. As we frequently resell coins to Proxibid auctioneers, we sent them to one of our top houses and, in our view, the best grader in the business, Larry Fuller from Silvertowne Auctions.

He returned the coins to me with a note. See for yourself.

See why we keep advocating for sharp photos and better terms of service on Proxibid that allow for returns of fraudulent (and often criminally liable) sale of altered coins.

We will post in the coming weeks an article from Coin Update News discussing these issues in detail. Stay tuned.

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.

Boos & Booyahs: Best & Bad Auctioneer Lot Descriptions

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When items warrant, Proxiblog will lament and compliment best and bad auctioneer lot descriptions in this light-hearted feature. We will name the best, but you will have to search Proxibid for the bad. (Click pictures to expand and view lot descriptions)

Booyah! To Meares Auctions for being proud of its 10% buyer’s fee and showcasing that in its email blasts! Meares keeps on improving customer service and consignments. Kudos atop booyahs!

Boo! to this unnamed auctioneer who not only posts blurred, impossible pictures but also lists a 1966 clad Quarter Dollar as “40% silver.” Why sell online if you cannot provide the visuals, let along accurate lot descriptions?

Booyah! To Capitol Auctions for a detailed historical description of “CONSTANTINE THE GREAT” ancient coin. It takes time to write accurate lot descriptions, especially on coins, but they lure the high-rollers and Capitol knows that, explaining its top-caliber consignments.

Booyah! to Silvertowne Auctions for identifying rim damage on a coin whose picture does not readily show that. Silvertowne tops our list of best online auction houses because of its expert numismatist who writes the best lot descriptions on Proxibid!

Boo! to this unnamed auction house that thinks a $4 mint set is “an investment” and wants 15% buyer’s fee plus $19.95 shipping to send it!

Boo! to this unnamed auctioneer who used the same picture for several Carson City dollars without noting that a stock photo was being used (or the same in-house photo for each GSA Moorgan). Why do auctioneers take shortcuts with photos when contracting with an online portal like Proxibid?!

Booyah! To Big Fellows Auction in its first Proxibid auction for accurate lot descriptions, including this one noting the tube of silver eagles were pristine out of a monster box (when some eagles of dubious condition are often just stored in such a tube).

Boo! to this unnamed auction house that took a picture of a US Mint box without also photographing the coins inside, not only on this but on eight similar lots, which confuses us, as there is gold inside … unless wanting to give the onsite audience an edge because they have access to the coins on display. We don’t like to think that, even though none of the sets containing gold sold to Proxibidders. That’s just probably an outcome of an auction house taking shortcuts with digital photography. There are no visual shortcuts in online coin selling. That’s a good lesson with which to end this post!

Viewers can point us to other candidates for our “Boos & Booyahs!” series. Just leave a comment but follow our rules–all in good fun as a way to inspire accurate lot descriptions on Proxibid.

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, Brief Hiatus

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Proxiblog has updated its auction rankings, with Silvertowne Auctions overtaking Western Auction, due to top consignment as well as buyer’s policies.

Silvertowne, concerned about securing top-quality consignments for its bi-monthly auctions, has one of the best seller policies on Proxibid, with low and even zero fees for coins that bring good hammer prices. Western Auction, still one of the best online and onsite companies in the business, at one time featured a 0% buyer’s fee, increased that to 5%–still the lowest on Proxibid–but recently upped that to 10%.

At 5% fees, Western Auction still would be doing well. Its July 6 session brought amazing hammer prices, with this 1893-S PCI-graded Morgan bringing $2950, or a realized price of $3245, still a bargain for all parties–auction house, seller and buyer.

Silvertowne, operated by Rick Howard of Howard’s Coin Shop in Leipsic, Ohio, features similar high-end items. In its last auction, this raw 1893-S sold for $3200, or $3680 realized, with 15% buyer’s fee. While that fee is on Proxiblog’s high end, Silvertowne makes up for that with expert coin grading and consignment policies. (Note the accurate description on the 1893-S coin pictured here.)

Proxibid will be taking a brief hiatus until mid-month. In two months we have posted more than 30,000 words in several categories, hoping to enhance your summer reading on best practices and more for your auction company.

In closing, we’d like to acknowledge our Honor Roll houses for their standards and practices on Proxibid:

Abal Auction

Arneson Auctions

Auctions Unlimited

Auctions by Wallace

Battermans Auction

Beatrice Auction Service

Beloit Auction/United Country

Black and Gold Auction

C.B. Kaye and Associates

Carden Family Auction Service

Carrick Auction

Crawford Family Auction

Culpeper Auction

Dave Kaufman Realty and Auctions

Furlo Auction Service

Garrison Auctioneers

Gavin Pope Auction and Appraisal

Gold Crown Auctions

Grey Ghost Auction Service

Grubaugh Auction Service

Hi-$ Auctions

Hidden Treasures

United Country/Hudgins

Key Date Coins

Kraft Auction Service

Krause Auctioneering

Krueger and Krueger

Jewelry Exchange and Auctions

Johnny’s Estate Auction Service

Lippard Auctions/United Country

Meares Auction Group

Massart Auctioneers/United Country

Midwest Coins

Phil Cole Rare Coin Auctions

RJ’s Auction Service

Scott Auctions

Silvertowne Auctions

United Country Shobe Auction

Sullivan Auctioneers

Weaver Signature Coin and Currency Auction

Western Auction

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.

Common Consignment Courtesies

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Proxiblog has consigned coins with more than a dozen Proxibid auctioneers, and the professional courtesies vary greatly, from notifying us about consignment arrival to sending the seller’s check.

Competition for coin consignments is heating up, with more buyers looking to invest in coins to offset an uncertain economy and some 40-plus auction houses meeting our standards with more coin-selling companies coming on board via Proxibid.

And yet only a relative few companies provide these common consignment courtesies:

  • Sending the consignor a contract or emailing a FAQ notifying sellers about fees, buy-backs and other auction house rules.
  • Alerting the consignor that his or her package has arrived safely at the auction house.
  • Providing the consignor with a list of coins being entered in a specific auction, and advising the seller if some lots had to be scheduled for a later auction, as is sometimes the case.
  • Informing the consignor after the auction on how well her or his lots did, with a bill of sales minus any fees.
  • Mailing the check within 7 days of the sale so that consignors can balance their own books.
  • Thanking the consignor for placing coins with the auction house and inviting more business in the future.

Proxiblog has cautioned auctioneers in the past that meeting our selling standards will be requisite as more professional coin dealers sign up with Proxibid, iCollector and AuctionZip. Moreover, online auction houses are competing with major Internet coin-selling companies, including Heritage, Teletrade, and one of the best new sites in a decade, Great Collections, a venture by numismatist and auctioneer Ian Russell, whose customer service and professionalism are exceptional.

Now add a couple thousand eBay coin auctioneers, many of them coin shops and dealers who advertise in Coin World, Coinage, and other numismatic publications.

Rather, we have been seeing a few new and even long-time Proxibid auction houses handling consignments informally, which often require sellers to ask if their coins have arrived safely, how well they did in a sale, and when the check will be cut.

An auctioneer never wants to receive an email such as Proxiblog just sent, using USPS tracking service and asking the auctioneer to please go to the post office and pick up the consignment before it is returned. This particular auctioneer is doing many things right, but exercising common consignment courtesies is not one of them. (Note: Name of auction company whited out as common courtesy.)

Some of the best houses providing all of the above courtesies include Silvertowne, Weaver and Leonard Auction. Moreover, Silvertowne and Leonard Auction are after quality consignments–so much so, that often selling fees are waived if the coins fetch good hammer prices. We’ve featured Leonard Auction before in our Best Practices page.

Waving seller fees (except for buybacks) may be a sign of the future as the more competitive Proxibid houses vy for top coins, leaving the low-ball consignments for the rest.

Currently Proxiblog is consigning only with houses offering Leonard/Silvertown deals.

Here is an email Leonard Auction just sent, soliciting consignments. (Click to expand picture.) Note how the auctioneer has taken pains to provide an Internet worthy photo attached to his email blast with all the factual particulars clearly spelled out. In fact, almost one-half of the entire message is factual with tight concise writing–a surefire way to attract attention … and consignments.

In the end, common consignment courtesies mean return business so that auctioneers do not have to hunt after estate auctions or travel to shows to purchase lots for sale. Coins will come to them, along with more Proxibid business.

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.

Already 1500 Viewers!

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In the first three weeks of Proxiblog’s launch, some 1500+ viewers have visited our site to learn about top coin auctions selling on the portal Proxibid.

Proxiblog articles, updates, best practices and other features are attracting between 50-150 viewers per day, an impressive figure for a blog without major media sponsorship (now under consideration at Coin World and other auctioneer and numismatic venues). We also have a growing subscription list (see the subscription button on the lower right frame of the home page, under top rankings and twitter).

Proxiblog, which honors ethical standards by the American Numismatic Association and the National Auctioneers Association, is an independent numismatic site with no affiliation to Proxibid.

Since the launch, several enhancements have been made to the site, including the “On the Block” series featuring auctioneers discussing Internet operations and their best practices (or bidder abuses). If you are an auctioneer who would like to be featured in “On the Block,” leave your email in a comment (which will not be posted, by the way) and Proxiblog will be in touch.

The Proxiblog objective is to provide more transparency, competition and quality control among auctioneers conducting online sessions. Only best practices and top auction houses will be featured here. Comments will be screened carefully to ensure that our site is as proactive as possible.

Our standards are reasonable and competitive: 15% or lower online buyer’s fees, pictures of obverse and reverse of coins, expandable photos for closer inspection of items, and shipping within 7-10 days. Our top houses also have “value-added” features, such as:

Our top online coin auction sites often excel in all the above categories (see rankings to the right).

Houses that meet our minimum standards are included in our Honor Roll. When Proxiblog began last month, only 11 houses met the criteria. Now more than 30 have in our short time focusing on quality control and competition.

We understand that some auctioneers believe that Proxibid fees prevent them from charging lower online buyer’s fees; however, we reject that argument as Proxibid has expanded the coin buying clientele and enhances the online experience with professional customer service. In a word, this is about competition with the understanding that auctioneers who can maintain or exceed these minimum standards also will thrive with top consignments and vigorous bidding. See our article, “The Three Cs of Proxiblog.”

If you’re an auctioneer hoping to maintain high NAA standards while reaching online coin buyers, why not see if your house meets these criteria to be listed on Proxiblog? And if you do, feel free to use our “Honor Roll” icon. (Note: If you wish a high resolution jpeg, leave your email in a comment and we will send you the file.)