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#1
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Bidding on eBay
Early every evening, if not preoccupied at work, I surf eBay for auctions
ending today for the collection I am building. Surfing would be nothing but enjoyment, were it not the shark infested waters of eBay. Tonight I surfed, but not for long as I found and latched onto an auction that had 52 minutes to go. If you want to skip the read and view the auction, go to the link at the bottom. The auction that stopped my surfing was for a Panama-Pacific commemorative half dollar, raw. Described as MS-63, very nice album tone, I liked what I saw, but..... be careful, it's raw. I paged to the top and saw the bidding at $389. The bidding had started at one cent with no reserve. With 52 minutes to go, 21 bids. I paged back down to the image and clicked on it to see the enlarged photo. Dang it, I don't know enough about the Pan-Pac half. What's with the textured look in the fields? Toning looks natural. I think. Coin is pretty clean of surface marks. Back to the auction page and a look at the seller. 99.8% positive, over 2,000 fb, around since 1999. Page down to read the description; "It grades MS-63, the surfaces are very clean and free of any marks, just a few micro hairlines in the fields keep this coin from a higher grade. It is an album toned coin with a very pretty natural rim toning, there are some deep aqua colors on both the obverse and the reverse rims, with untoned centers. This coin has lots of eye appeal, it is a tough coin to find this nice. Just a very nice coin, this is a coin worthy of a strong bid. This coin would make a welcome addition to a high grade set." Hype? Honest opinion? Honest, accurate opinion? I go back to the enlarged image. Is the a wear spot on the right side of the eagle's breast? There's a mark across the shield - I can live with that. Rims!! Remember Bob's observation with the California a few weeks ago and check the rims. Not too bad, a few tiny dings- nothing that causes concern. Well, someone has bit the baby's butt. A couple of small dings there. A couple of marks on the skirt, a mark on each arm. I can live with the marks, but has that coin been polished? Whizzed? I better read what Bowers has to say about Pan-Pacs. Let's see; "The finish....does not have the typical deep mint frost....but is apt to be satinlike in appearance....high parts in particular having a microscopically grainy finish. .... On the reverse the eagle's breast feathers are indistinct on all specimens, an attribute which sometimes gives Mint State coins the appearance of having light wear. "The grainy finish of the pieces makes them difficult to grade. In particular, it is not easy to determine whether a coin has been lightly cleaned or subtly polished, .... "GRADING SUMMARY: Go to the head of the class if you can grade this coin consistently, for most experts can't. Check Columbia's shoulder.... check the eagle's breast. The only complication.... Take your time and buy only a coin that is aesthetically pleasing to you." Quotes are from "Commemorative Coins of the United States, A Complete Encyclopedia" Q. David Bowers, pgs 128 & 129. So now I know the coin could be MS, it could be AU, it could be polished, it could be cleaned and I know the seller may be an expert and guess what Bowers says most experts can't do. So reassuring. But, Q. David did tell me to take my time and buy the coin if aesthetically pleasing to me. I don't have a lot of time. The coin is ae--- I like the way the coin looks. I need to dig into this seller's feedback. Looks good, looks good, same-o same-o. What good is feedback anyway. Whoa, there's a user id I recognize as a use to be rcc'er and fellow co-defendant. Boy, he showers the praise on. There's another I recognize and trust from the PCGS US Coin Forum. And another. This is a positive. People who I know know coins are giving strong recommendations. Ok, back to the auction page. 28 minutes left, now at $406. I got to go to the bathroom. When back, I look at the image some more. Nothing new jumps out at me. I don't like the hairlines both sides of the shield. I wonder if they are die polish lines. The seller says hairlines keep the grade capped at 63. I wonder if those are the lines he is talking about. Where's this guy licve, anyway. Tennessee. Good, not Florida or Missouri. Ok, if the price doesn't climb too much, I might pop in a snipe bid. Refresh. 15 minutes, holding at $406. Hmmm, what do the price guides say anyway? Greysheet says EF-$185b, AU-$345b, MS60-$400, MS63-$580. Soooo, if AU details, cleaned net EF, I had really like the coin should I bid and win. The bidding is decently into MS60 range. I don't think I can afford to bid if other bidders are thinking MS63 money. What am I saying(?), I can't afford AU money, let alone MS60-63. Ok, gotta figure out how I could pay for this. Check or money order. Hmmm, check floats in the mail a couple a days, can't count on float time nowadays except for postal delivery time. Oops, Friday's paycheck is already spent. A little over $200 in Paypal I could transfer, given 3 days. $194 on it's way back to me for the California I returned. I think it is on its way back to me. Uh, $70 from the PO who lost two of the coins I mailed to winning bidders. Hey, I got it. Business is good, heck it's great. If I win, I will just give myself a couple of advances, or a short term loan until I get righted. Ooookaayyy!!! Now, how much should I bid? Better check the bidder list for clues. No clues. Refresh the page. $406 with 4 minutes to go. With 22 bidders, there has got to be some last minute action. A bid in the $400s may not make it. Somebody is liable to place a bid of $501.xx, as well. I better go in with $504.12 If I win and it takes all my proxy, I'll come out good if it is a no problem 63 with that color. If I like the coin in hand, I'll be all right I think, regardless of the grade, but I worry about the coin being polished. So, with 40 seconds to go, I refresh. Still at $406. In another window, I have my bid of $504.12 ready to confirm. Then someone knocks on the back door. An employee is close by sweeping and I tell him not to open the door until he identifys the knocker (We're closed and it's dark outside). He can't understand the muffled reply when he asks "Who's there?" I say, "well, they can just wait." 15 seconds to go. I hit the button and don't wait for a result but go to the back door. I figure out it is a fellow who did some contract work the night before and I let him in. I growl at him and explain his knock was poorly timed. I lead him to the office desks, explaining as I go. I refresh the auction page and I have won, $449 and change with $8+ shi. The fellow with me asks "what's that?" and is answered with 10 minutes of explanation, including a look at some of my commemorative halfs, a look at both last month's California auction images and my image of the California I returned and a look at John Carney's rcc pages, specifically my Gettysburg. Now, after replacing a few fluorescents out in the dining area and typing this, I need to finish up around here and go home. It's 1:30 am and I have a half hour or more work to do. Here's a link to the auction; http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3969957205 large auction image; http://images.andale.com/f2/115/106/...3412CONSGN.jpg Bill |
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#2
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"Bill Krummel" told the group about his new coin:
The auction that stopped my surfing was for a Panama-Pacific commemorative half dollar, raw. Described as MS-63, very nice album tone, I liked what I saw... Thanks for a great read, Bill. And congratulations on that new beauty! I love that kind of toning! Larry |
#3
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"Bill Krummel" wrote in
: snip great story http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3969957205 large auction image; http://images.andale.com/f2/115/106/...780_AH1915SPan PacMS63412CONSGN.jpg Bill Thanks for the fun reading, Bill! My heart was pounding! My hands were sweating! I was hoping for the hero to snag the coin before it was too late. Man, 16 seconds to go and he did it! Woohoo! That was better than seeing the wire cut with 1 second to go before the bomb blows! That's one beautiful Commem! Great lustre. Gorgeous toning - very ae---, pretty to look at! -- Eric Babula Milwaukee, Wisconsin, USA Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body. But rather, it’s to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming, 'Wow! What a ride!!!' |
#4
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"Bill Krummel" wrote in message
Here's a link to the auction; http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3969957205 large auction image; http://images.andale.com/f2/115/106/...3412CONSGN.jpg Bill Nice looking coin, Bill. Let us know what it looks like in-hand. Are you going to entomb it in plastic? If so, which service? -- ©¿©¬ ~ Ed Hendricks ANA# R178621 "Life is a coin. You can spend it any way you wish, but you can only spend it once!" |
#5
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Bill Krummel wrote: major snipage Now, after replacing a few fluorescents out in the dining area and typing this, I need to finish up around here and go home. It's 1:30 am and I have a half hour or more work to do. Here's a link to the auction; http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3969957205 large auction image; http://images.andale.com/f2/115/106/...3412CONSGN.jpg Bill Bill, I always enjoy your ebay essays. Thanks for taking the time to write them. I've heard mixed reviews of this seller on the CU boards, but I think the good opinions outnumber the bad by a good margin. I've looked at quite a few of his coins, both early type and commems, but I've never pulled the trigger. I'm pretty gunshy of raw coins any more and that seems to be all he sells. Most of his coins look nicely toned and seem to be NT. However, many seem a bit too nice and I rarely ever see a white coin or ugly toned coin offered by him. Maybe he only buys nicely toned coins. I have always suspected that he enhances the coins or at least the images a bit. Of course I have no proof, only my gut to tell me this. I am very interested in hearing your opinion of this coin when it arrives. Well, he can't be all bad. His name is Randall, after all. |
#6
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"Ed Hendricks" wrote in message news:Ept9e.10494$c93.9200@trnddc08... "Bill Krummel" wrote in message Here's a link to the auction; http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3969957205 large auction image; http://images.andale.com/f2/115/106/...3412CONSGN.jpg Bill Nice looking coin, Bill. Let us know what it looks like in-hand. Are you going to entomb it in plastic? If so, which service? -- ©¿©¬ ~ Ed Hendricks ANA# R178621 "Life is a coin. You can spend it any way you wish, but you can only spend it once!" Good question Ed, cuz I don't know the answer. Like Randy, I seldom buy my classic commems raw any more ( except three times in the last 4 weeks, so I am living dangerously), so to fit in with my other 22 types that I have I should get the coin plasticized, although I am not driven to necessarily have a tidy collection. PCGS or NGC would be my first choices, but ANACS, with their net grading, would be fine if I thought there were possibilities of a problem. Anyway, it is unlikely that it will get slabbed soon, but perhaps if the opportunity presents itself. Bill |
#7
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"Randy Thompson" wrote in message oups.com... Bill Krummel wrote: major snipage Now, after replacing a few fluorescents out in the dining area and typing this, I need to finish up around here and go home. It's 1:30 am and I have a half hour or more work to do. Here's a link to the auction; http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3969957205 large auction image; http://images.andale.com/f2/115/106/...3412CONSGN.jpg Bill Bill, I always enjoy your ebay essays. Thanks for taking the time to write them. I've heard mixed reviews of this seller on the CU boards, but I think the good opinions outnumber the bad by a good margin. I've looked at quite a few of his coins, both early type and commems, but I've never pulled the trigger. I'm pretty gunshy of raw coins any more and that seems to be all he sells. Most of his coins look nicely toned and seem to be NT. However, many seem a bit too nice and I rarely ever see a white coin or ugly toned coin offered by him. Maybe he only buys nicely toned coins. I have always suspected that he enhances the coins or at least the images a bit. Of course I have no proof, only my gut to tell me this. I am very interested in hearing your opinion of this coin when it arrives. Well, he can't be all bad. His name is Randall, after all. Dang, Randy, I think you know something on every eBay seller. I am going to start emailing you with questions before I place my bid. Errr, no, better not, considering what you collect. Anyway, I received the email invoice this morning and it is lengthy. I kinda like this part, makes me feel like the guy has his head screwed on pretty tight; "Grading - Many of the coins I auction at eBay are on consignment from other dealers and collectors. Thus they have been graded by them and the grade also checked and verified by myself. I use ANA and PHOTOGRADE grading standards. I try my best to grade as accurately as possible. I give you my best opinion on what I think the coin would grade if submitted to a grading service. Do I consider myself knowledgeable? - Yes. I have collected since the mid 60's and have been dealing coins since 1988. Do I consider myself the world's greatest expert? - No. Grading is an art not a science. Grading is subjective and can be influenced by ones personal tastes. Opinions on grade do vary from person to person, dealer to dealer, grading service to grading service. But YOU have the final say. If you are not happy simply return the coin. If you are new to collecting or not confident in you own grading skills. I highly recommend you show the coin to other dealers or collectors in your area to get a second opinion. That is the reason you have a 15 day return privilege, take advantage of it." I won't be returning the coin if in hand it comes reasonably close to resembling the auction image, regardless of my opinion of grade or problems, unless the problem is so blatently obvious it should have been mentioned in the auction description. I think that to date, I have only seen one Pan-Pac in person, and I wish I had a few hundred slabbed laying in a row to study. Bill |
#8
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Bill Krummel wrote: Dang, Randy, I think you know something on every eBay seller. I am going to start emailing you with questions before I place my bid. Errr, no, better not, considering what you collect. Anyway, I received the email invoice this morning and it is lengthy. I kinda like this part, makes me feel like the guy has his head screwed on pretty tight; Ouch! You've just confirmed my suspicion that I have no life and spend too much time looking through ebay auctions. I guess I spend too much time reading coin forums too. "Grading - Many of the coins I auction at eBay are on consignment from other dealers and collectors. Thus they have been graded by them and the grade also checked and verified by myself. I use ANA and PHOTOGRADE grading standards. I try my best to grade as accurately as possible. I give you my best opinion on what I think the coin would grade if submitted to a grading service. Do I consider myself knowledgeable? - Yes. I have collected since the mid 60's and have been dealing coins since 1988. Do I consider myself the world's greatest expert? - No. Grading is an art not a science. Grading is subjective and can be influenced by ones personal tastes. Opinions on grade do vary from person to person, dealer to dealer, grading service to grading service. But YOU have the final say. If you are not happy simply return the coin. If you are new to collecting or not confident in you own grading skills. I highly recommend you show the coin to other dealers or collectors in your area to get a second opinion. That is the reason you have a 15 day return privilege, take advantage of it." That does sound like he knows what he is doing and is honest. Or maybe that's all hype to get you to trust him. My original opinion was based on images I saw of his more than a year ago that looked enhanced. My opinion has softened some after hearing mostly good things on the CU boards, but not yet enough to place a bid. Maybe I'll watch his stuff a bit closer. Or maybe I'll wait to get one more data point from you. I won't be returning the coin if in hand it comes reasonably close to resembling the auction image, regardless of my opinion of grade or problems, unless the problem is so blatently obvious it should have been mentioned in the auction description. I think that to date, I have only seen one Pan-Pac in person, and I wish I had a few hundred slabbed laying in a row to study. The coin looks nice to me, but is that a bit of rub on the baby's back side? Sometimes it's hard to tell an AU58 from an MS63. A few years ago I bought a raw half dime described as choice AU by the seller. I couldn't find the wear when I got it in hand so off to NGC it went where they called it an MS63. The seller obviously thought he saw something or he wouldn't have sold it as AU. I've seen precious few in person myself. I've noticed that they often come with nice toning like that one so I have passed on several online because they were too white. I'm getting much pickier these days. It sure helps on the budget, but doesn't satisfy my coin habit very often. |
#9
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On Wed, 20 Apr 2005 01:17:08 -0500, "Bill Krummel"
wrote: Early every evening, if not preoccupied at work, I surf eBay for auctions Good read, I agree, something most of us can identify with. But you didn't discuss the seller's return policy, important with auctions like this. In this case, it's 15 days no questions asked, which is good. But ... the coin must be received back by the 15th day, and you can't have removed the coin from the holder. I don't quite know what the last part means. Presumably the coin is in a 2x2, but what if it's in a flip. You can't take it out of the flip? How would he know? Anyway, seems like you got a good deal for a nice coin from a reliable seller, and most important ... had fun with it. -- Email: (delete "remove this") Consumer: http://rg.ancients.info/guide Connoisseur: http://rg.ancients.info/glom Counterfeit: http://rg.ancients.info/bogos |
#10
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"Reid Goldsborough" wrote in message ... On Wed, 20 Apr 2005 01:17:08 -0500, "Bill Krummel" wrote: Early every evening, if not preoccupied at work, I surf eBay for auctions Good read, I agree, something most of us can identify with. But you didn't discuss the seller's return policy, important with auctions like this. In this case, it's 15 days no questions asked, which is good. But ... the coin must be received back by the 15th day, and you can't have removed the coin from the holder. I don't quite know what the last part means. Presumably the coin is in a 2x2, but what if it's in a flip. You can't take it out of the flip? How would he know? Anyway, seems like you got a good deal for a nice coin from a reliable seller, and most important ... had fun with it. Darn Reid, you're right. I forgot to address the seller's return policy in my auction report. I was aware of it while waiting to place my snipe bid, but it is something important that I forgot about when typing the report. I do feel comfortable with this seller's auction policies. Bill |
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