Due Diligence: Another Weaver Auction Trait

due diligence

Folks wonder why Weaver Signature Coin and Currency Auction typically tops our rankings and why the company is often featured on Proxiblog. Here’s a perfect example.


The majority of auctioneers on Proxibid would not have mentioned the scratch, even if it is on the flip (which indicates a quality consignor, by the way). They would take a photo of obverse and perhaps reverse without the trademark sharpness that is essential in telling a coin’s true condition. Moreover, several Proxibid auctioneers would hype the coin as being worth hundreds of dollars at MS 65 … or MS 67 … or even MS68, like this unnamed auctioneer:

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No, Dave Weaver never hypes coins. In fact, in this case, he takes another close-up shot of the scratch so that bidders can see what, exactly, they are bidding on:
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As long as Weaver Auction takes these extra steps, they will earn more than commissions. They will earn trust and 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.

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Add Signature to Packages $200 and Up

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What is the best USPS shipping for coins won in auctions? The question was posed to us by one of our top houses. We provide the answer below.



One of our favorite auctioneers asks:


    “Recently we changed our shipping policies with signature required from $200 to $500.00. But here’s the rub, if someone says they did not receive their coins all we have to do to fight a charge back is show the tracking info showing it was delivered. However, just because I can show it was delivered doesn’t mean that it wasn’t stolen out of a mailbox, not actually delivered etc. We also don’t want to run off bidders because they don’t have time to run to the post office. But more importantly we want people to get their coins. Any advice?”

To which we replied:

    “Use signature required for all packages of $200 or more and send priority mail, flat rate. You’ll be insured for $100 with flat rate, have the signature in addition to the tracking. We consign coins all the time and this is what we do. Remember, consignors don’t want their coins delivered and then taken, perhaps, by someone in the auction house or even an employee, claiming the coins never arrived. When dealing with coins it always makes sense to take that extra step. Be sure to include this in your service terms.”

We probably send on average 300 packages per year and receive as many. USPS has on occasion sent the package to the wrong address, but has never in our experience lost a package with signature authority.

Do you agree with our recommendation? What has been your experience?

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.

To spot a fake

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Can you spot a fake 1893-S Morgan dollar, one of the most counterfeited coins? This article explains how.



Compare the photo above of a probable fake 1893-S with the genuine article below, offered by Jewelry Exchange.

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They look almost identical, an indication of how good counterfeit coins coming into this country from China are being manufactured.

There is one particular diagnostic, however, that counterfeiters often fail to get right, and that is the date. Compare the dates of the two coins:

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The number “1” of the date must sit squarely over the denticle below. The “1” on the left does not, indicating it is a fake. The “1” on the right is square over the denticle. Also, there is a difference here in the number “3.”

If you are an auctioneer getting an 1893-S Morgan in a consignment, which can bring thousands, it pays if you can identify whether the coin is authentic. This can save you time and trouble if a bidder files a complaint.

Concerning “ALL SALES FINAL,” keep in mind that selling a counterfeit coin is a violation of the US Hobby Protection Act. As we have advocated for many years now, auctioneers should create policies that make the consignor and not the bidder liable for counterfeit coins.

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.

Note Retoned vs. Toned

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Dave Weaver of Weaver Auction uses the correct word in describing the 1881 Morgan dollar above: “retoning.” That has specific meaning in numismatics. It depicts a coin that has been cleaned and then retoned over several years. Do not call a coin like this “toned.” You would be misrepresenting the lot if you did.


Genuine rainbow toning is not washed out like the Weaver example. Colors that retone typically come in shades of dull blues, reds and purples that have a bleached look to them. Colors blend rather than bleed into each other or seem painted on artificially, as in this silver eagle below:

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A true toned coin features glossy colors that blend into each other in a rainbow array, as in this lot:

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Auctioneers and bidders alike need to distinguish among these three examples. Retoned and artificially toned coins can possess beauty and may be worth bidding on. But naturally toned coins that develop patina overtime without cleaning really are spectacular and demand premiums.

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.

Not using APN? Explain your payment system thoroughly

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Proxiblog has supported the Auction Payment Network for years now because of its excellent security, especially important in the numismatic trade. If you don’t subscribe to the service, or use PayPal, then you have to explain your payment system and let bidders know that it is secure.



Several auctions on Proxibid ask that you call in your credit card numbers. We recommend that you do not. You don’t know who is taking those numbers or how they will be stored, perhaps in a company computer that may be hacked in the future, undermining your credit.

We think such practices are irresponsible. We never bid in those auctions. However, we would consider bidding in Numisphere Auction because it has spelled out its credit system, providing a link to a secure payment network.

We also like the 3% discount on its already low 10% buyer’s premium for bidders who prefer to send checks to the company.

If you don’t use APN or PayPal and lack a secure payment system, you are doing your bidders a disservice. No matter what your payment protocol, you need to explain it thoroughly in your service terms.

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.

Top consignors rely on sharp photography

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It baffles us. Auctioneers usually will go the extra mile to earn an extra dollar, except when it comes to coin photography. Don’t they know that top consignors partner with houses that have mastered coin photography?

Compare the luster of the 1883-CC Deep Mirror Prooflike, which we won from Fox Valley Auctions, with the photo below of an Isabella Commemorative Quarter that a Proxibid auctioneer describes as having “great luster”:

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The Fox Valley Coin boasts sharp numismatic photography. The Isabella quarter does not. Both are worth about the same in uncirculated condition with prooflike mirrors. Which do you think will draw the most bids?

Now look at the photo below. We dropped this otherwise successful Proxibid house (as well as several others) from our rankings because it has refused to upgrade photography. The auctioneer claims this 1889-S Morgan is proof-like, but the photography is dull, showing no luster whatsoever:

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Digital cameras have never been better in capturing luster. We photographed this below with a Samsung smartphone. We didn’t use a camera stand or any special lighting, and we uploaded the photo in seconds to the web:
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For a few hundred dollars auctioneers can buy a professional coin photography kit consisting of a tripod, two light sources, a light box and special bulb.

Invest time and funds in photography, and the caliber of your consignments will rise (along with your profits).

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.

Thank-you message attracts new business

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Rolling M. Auctions, one of the best marketers on the portal, sends out a thank you noting realized prices after one of its large, advertised auctions. The gesture not only is good business practice; it also attracts consignors.



Often good customer service–a thank-you, for instance–is yet another opportunity to tout your auction and attract consignors in the process. Rolling M. Auctions sent this email blast to all who registered for the auction and, perhaps, to all in its database of former customers.

In this instance, the company announced that its online attendance had set a record. The gesture is especially important because Internet bidders are the target audience for a thank-you message like this.

A good thank-you message with marketing savvy has these components:

1. Sincere thank-you for the business.
2. Realized prices.
3. Any record-breaking statistic, including a high price for a rare coin.
4. A notice for potential consignors.
5. Date of future auction.
6. Contact data for the company, including email and phone.

Every contact with your bidder is a chance to attract more business. Every auction is a chance to attract return customers, especially if you have mastered photography, lot descriptions and customer service.

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.