Top Houses Get Better; Others Dropped–Views at All-Time High!

Increasingly we’re seeing fewer new coin auctions on Proxibid worth bidding on, relying more on our top favorites that maintain standards in photography, consignments and customer service. Few can beat Brad Lisembee at Capitol Coin Auctions and Dave and Cheryl Weaver at Weaver Signature Coin and Currency Auction.


For more than a few years we had been listing as favorite houses about a dozen that have maintained 2012 standards … but have failed to improve to 2014 standards requiring sharp photography, reliable lot descriptions and cherry consignments. We read notices on their sites stating, “Tell us how we can be better,” and then see the same blurry photographs or the same inferior lots.

A few houses have been dropped because their consignments have not warranted a lot of interest–consistently, for the past several months. As soon as they get better coins, they’ll likely be back in our rankings.

Technically, we have dropped all houses that failed to earn a 24.5 out of 25.

Despite that news, coin auctions on Proxibid have been exciting. Fox Valley, Capitol Coin, Weaver, Krueger and Krueger, SilverTowne, Leonard, Star Coin, Jewelry Exchange, Back to the Past, Meares, et. al.–who could ask for a better selection!

Even Kaufman Auction is getting coins shipped in a timely manner and posting photos within a week of the event. McKee Coins is improving, as are Auctions By Wallace and A New Day Auctions.

Proxiblog also had one of its best months ever with almost 1500 views in 30 days. See our graph below:

septrankings

We continue to provide best practices and numismatic knowledge to our viewers for free. Please consider making a donation. We post daily during the week, which takes time and effort, and do this for educational purposes, informing auctioneers about best practices and viewers about numismatics. With our sponsorships, we fund media ethics 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 new work, Online Coin Auctioneering or Basic Coin Design 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.


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.

Sharpen Lot Descriptions

numismatice termsThe best way to move lots and spark bidding is to shoot a sharp photo. The next best way is to describe the lot numismatically.

Owen McKee takes pains to compose a thorough lot description on a folder full of coins, which bidders usually take under wholesale because auctioneers do not spend as much time as this Iowa coin dealer in depicting the lot with photo and terms. (Click to expand photo below.)

nicedescription

McKee also describes flaws in lots so that bidders know the true condition of a coin, as in this photo of a rare 1955 double die that has a scratch and rim dings and hence probably will not slab.

nicedescription1

Speaking of slabs, here is a coin in one whose auctioneer shows neither the label nor describes the lot, meaning that buyers can be bidding on a flawed coin (probably improperly cleaned).

nolabel

When describing lots, use PCGS Coin Values only when stating the condition of lots holdered by that company. Anything else is unethical (cite Redbook or CoinValues prices if slabbed by ANACS or ICG; use NGC values for coins by that holdering company, with anything else considered raw). Southwest Bullion and Coin shows how it’s done:

nicedescription3

This auction company violates that standard, citing what we believe to be a $92 MS64 raw coin as MS67 worth thousands. (At best, this is an MS65 coin worth $150; at worst, it is a dipped coin that is not gradeworthy). Note the high bid on the coin with six days remaining:

nicedescription4

Auctioneers who know numismatic terms attract repeat business. Buyers who are shortchanged will learn the truth sooner or later when attempting to resell their overpriced 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.

Key Date Coins Wins … “Best Photography”

2Best Photography

Key Date Coin Auctions, operated by Eddie Caven of Oklahoma City–a top-ranked house through much of 2012 on Proxiblog–has won the category of “Best Photography,” based on capturing the coin’s true condition and using as many shots as possible to make that happen.

Once again, this was a vigorously contested category with Capitol Coin Auction, Leonard Auction, Manor Auction, Matthew Bullock Auctioneering, McKee Coins, Weaver Coin and Currency, and Western Auction all vying for top honors. The deciding factor was Caven’s use of photography to augment his descriptions, showing VAMS, DMPLs and flaws with sharp, expandable pictures.

Last year Weaver Signature Coin Auction and Matthew Bullock Auctioneering tied for the best photo category honors.

As we mentioned last year, we are flummoxed that so many auctioneers on Proxibid, as competitive as you might anticipate NAA members to be, take shortcuts on photos, sometimes only displaying only obverse, sometimes depicting only a box or an album, sometimes neglecting to note key date coins, sometimes forgetting about lighting, and sometimes just blurring the whole shebang.

Check out this article for tips about digital photography.

To give you an example of why auction houses with the best photography almost always boast the best consignments and top ratings, check out these examples from winner Eddie Caven of Key Date Coins and our Honorable Mentions:

Key Date Coins

Key dateKeydate1Keydate2


Capitol Coin Auction

capitol


Leonard Auction

leonard


Manor Auction

Manor


Matthew Bullock Auctioneering

bullock


McKee Coins

mckee


Weaver Coin and Currency

weaver


Western Auction

western

Please do not take shortcuts on photography if you are paying Proxibid fees whose technology is programmed to share the onsite excitement of an auction with your Internet clientele. Proxibid has enhanced photo-expansion capabilities with a mere mouse-over in the bidding window. Nothing sells a coin with high bids as sharp, expandable photography.

Overall, we have seen better photos across the portal. Perhaps auctioneering competition is at the root of that. In any case, our hat’s off to Key Date Coins for its visual expertise as well as to our Honorable Mention houses.

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

It’s important to be in sync with the Proxibid technology 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.)

One Big Booyah to Key Date Coins for noting small but nonetheless signs of damage on an otherwise beautiful coin. As you’ll see in the example below, some auctioneers are not noting obvious damage like scratches and graffiti and even citing values based on Red Book prices for coins that are essentially silver melt or have low numismatic worth. Eddie is more concerned about his integrity as a numismatist than in selling a lot and risking an unsatisfied customer. Our hats are off to him and Key Date Coins.


Boo! to this unnamed auctioneer who fails to note scratches and graffiti and has the temerity to state this severely damaged coin is almost uncirculated 55, a few points from mint state. To the contrary: This coin is a few steps from the silver melting pot and is, at best, a filler in a coin album.


Booyah! to Star Coin and Currency for noting damage to a gold $2 1/2 dollar coin caused by one time being part of a jewelry piece. This type of damage can be obvious or subtle, and is always a problem if a bidder wants to authenticate and slab such a coin with a top grading company. Star Coin’s transparency is appreciated.


Boo! to this unnamed auction house for failing to provide reverse photos, especially of an 1890-CC, which just might be a coveted tailbar variety. We have stopped bidding in auctions that only show one side of a coin and urge our bidders to do the same. Badge or no badge, this auction house needs a tutorial in selling coins.


Boo! to this unnamed auction house for calling a coin “cameo” when the holder clearly states that it is NOT and the price difference is significant ($60+). Moreover, cameo coins require frosted devices on both sides (and this half-dollar lacks that). Let’s not hype coins; let’s really not hype coins holdered by NGC or PCGS as their values are pretty apparent and their graders do not miss much.



Boo! Speaking of PCGS, do not use its price guide for coins that are not holdered by this top-company, even if showing an NGC coin (PCGS’s closest rival). PCGS has distinct grading standards and its values are based on that. No doubt this is a lovely coin, but citing $1000 is out of line as similar ICG coins (ANACS top rival) have sold for $50 or less. To ascertain current values, we recommend subscribing to PCGS Coin Facts which lists sale prices for PCGS, NGC, ANACS and ICG. (We never bid without checking CoinFacts for current pricing levels.)


One Big Booyah! to McKee Coins for noting this roll of steel cents is reprocessed, or replated, distinguishing its worth from uncirculated rolls of such cents which can sell as high as $100. This is worth less than $20 and of value only to give to youth numismatists to spark their interest in the hobby, showing children a plated and real World War II-era steel cent so that they can tell the difference.


One Big Booyah! to Black and Gold Auctions for noting scratches and cleaning of an otherwise rare key date Indian head cent, coveted by collectors in extra fine to uncirculated condition. This is example is accurately graded as VG, or very good, with damage noted in the lot description. We know some houses that would have called this extra fine and omitted details about poor condition.


One Big Booyah! to Capitol Coin Auction for noting a rare double die on this 1909 VDB cent, even going so far as to reference the page in the popular varieties book (Cherrypicker’s Guide) to alert bidders of the inherent value of this particular lot. Would that all Proxibid auctioneers took this much time in their lot descriptions!


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.