Kudos to Krueger and Weaver Auctions

We regularly run features on counterfeit and hyped lots on Proxibid. So it is only appropriate that we acknowledge companies that write accurate lot descriptions, especially for fake coins and ones in bottom-tier holders. Here are two recent proactive examples by Kurt Krueger of Krueger and Krueger Auction and Dave Weaver of Weaver Auction



counterfeit

Kurt Krueger notes the coin above is a gold-plated bronze counterfeit, which is legal to own but illegal to sell as authentic. (Click to expand screenshot.)

Dave Weaver notes this hyped coin lot proclaiming an 1891 MS66 Morgan is polished and worth its weight in silver.

weaver

(For the record, a 1891 MS66 Morgan is worth $16,500. Out of a mintage of 8.7 million for that year, PCGS has only slabbed 2 at that grade with 1 at MS67.)

We wish all auctioneers on Proxibid identified fakes and flaws as Kurt Krueger and Dave Weaver do!

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.

Weaver Auction Uses “Early Bird” Alert

One of the best, most innovative and consistent coin auctions on the Proxibid portal is Weaver Signature Coin and Currency whose owners, Dave and Cheryl Weaver, always seem to find new ways to engage bidders. We have profiled them previously with online advertising, tiered bidding, best practices, budget auctions, accurate grading, concise descriptions and more. Today we laud them for “early bird” bidding.



earlybird

We encourage early bird bidding for rare coins, but not bullion. The price of the latter can vary daily, and so you’re better to attend a live auction or place maximums on the day of the auction. However, if you are selling rare coins, get that catalog up as early as possible (good advertising principle) and then alert your early bird regulars as the Weavers have done.

For an additional enticement, give a 2% discount for all who register and place bids by a certain date. We remember Kurt Krueger of Krueger and Krueger Auctions doing this a few years ago in his first auction to lure bidders away from other Proxibid events.

Krueger Auctions, by the way, has just held two massive events on Proxibid. Like Dave and Cheryl Weaver, Kurt got his catalogs up weeks in advance. Bidding kept getting stronger each day and then topped out with a few buyer wars for cherry lots.

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.

Grading Krueger & Krueger Auction

krueger

We will run occasional grading checks on Proxibid auctions so you can see how we bid based on condition. These coins are from Krueger Auction’s March 17 session. We grade on PCGS standards as found on Photograde, admittedly more conservative than grading of most auctioneers but still the standard in numismatics. Click pictures below to expand.

We call a coin:

    gem_details

    “GEM” if will grade at NGC or PCGS at the MS65 level. We see a staple scratch above the date on Lady Liberty’s neck. We call this Gem Details.


    choiceBU

    “CHOICE UNCIRCULATED” if will grade at NGC or PCGS at the MS63-64 level. We see too many dings and bagmarks and so call it MS62. Consider this a judgment call.


    AU_58

    CHOICE ALMOST UNCIRCULATED” if it would grade AU58 (essentially a slider–or one that could be mistaken for mint state). We agree with this grade. This is the rare three-legged buffalo nickel. To tell if genuine, always look at the field below the buffalo’s private part. You should see a slight rise in the field. This is an authentic coin.


    ef45

    EXTRA FINE” if it would grade EF40-45. We agree that this is an EF45, but see evidence of pitting. Hence, we won’t bid.


    VF35

    VERY FINE” if it would grade F20-35. We agree with this grade but see slight evidence of cleaning. We may do a low-ball bid.


    f12

    FINE” if it would grade F12-15. We agree with this grade.


    VG10

    VERY GOOD” if it would grade VG8-10. We call this Good 6 because of wear at 2 o’clock and an old cleaning. Again, another judgment call.


    G6

    GOOD” if the coin would grade G4-6. We say G4 on this rather than G6, yet another judgment call on our part.


    valueadded

    VALUE ADDED” if the auctioneer describes a condition apart from grade. Kurt Krueger notes this coin as porosity.


    valueadded1

    VALUE ADDED” if the auctioneer explains how to authenticate a coin, as we did above with the three-legged nickel. Kurt Krueger notes a key diagnostic on this valuable coin.


    valueadded2

    VALUE ADDED” if the auctioneer describes a condition apart from grade or otherwise relates an anecdote about a lot. Kurt Krueger does both here.


    Generally, in our subjective but nonetheless expert opinion, we feel Krueger & Krueger is a good grader whose lots come close to our judgment calls. This stands in contrast to many auction houses on Proxibid. Kurt Krueger also describes coins numismatically and adds value by noting condition apart from the grade. Sometimes an old cleaning may be missed; sometimes we disagree on a grade within a point or so; but that’s a trifle, as grading is subjective to a degree.

    As noted, grading is in part subjective, and is difficult to do via online photographs. Our designations are based on how we bid and why. Thus, the overall grade on John Leonard’s grading based on our criteria: A-.

    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.