Yesterday we reported that there were two Paramount dollars and one genuine Redfield dollar being sold on Proxibid. The lot above is a Paramount dollar, still listed on Proxibid as a “Redfield.” Redfield dollars are worth a much larger premium than Paramount dollars but because the latter are holdered in the same type of card and plastic, many Proxibid auctioneers call all such dollars “Redfield,” when they are not. We sent multiple warnings to the auctioneers in question, using the “Report the Item” link. Top house SilverTowne changed the lot description. The other auction house did not.
Here is the SilverTowne screenshot with the changed lot description:
Here is the auction house that did not change the lot description:
We’re not going to name the auction, but you can find it out by searching for the above coin.
Our site is educational. We hope this has been of service to you. And we’re proud of SilverTowne for realizing its numismatic error and correcting it, as we knew it would. The other? Perhaps the auctioneer is out of town. Or otherwise engaged. We don’t know. All we do know is that we sent multiple alerts to him using the “Report the Item” link.
We also believe Proxibid has an obligation to bidders–not to mention its own brand of “trust”–to require auctioneers to change obviously erroneous lot descriptions–wrong date, mint mark, etc. In this case, calling a Paramount dollar a “Redfield” is unfortunate, especially if the lots sell with a high but undeserved premium.
This is how a genuine Redfield dollar should look, featured on Weaver Auction (known for accurate lot descriptions):
For more on Redfield dollars, see this article published in Coin World.
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.