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Exaggerated descriptions plague coin auctions

June 19, 2017 in Auctions, Coins, Coins for sale, Collecting, E-commerce, Education, Ethics, Grading, Investing, News, Numismatic Crimes, Numismatica, Numismatics, Online Tools, Opinion, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

I am growing weary reporting exaggerated descriptions in online coin auctions hosted by major portals, such as Proxibid and eBay. While it is difficult for those portals to monitor all lots in multitudes of auctions, it nevertheless hurts the hobby when hyped descriptions are not reported.

Here are just a few recent examples. I could provide many more, but these deal with coin rolls, raw coins, and holdered coins by eBay-approved and unapproved companies.

Let’s start with the “never opened” roll (hover cursor over images to zoom)… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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When flat bids are not mentioned in terms

May 1, 2017 in Auctions, Coins, Coins for sale, Collecting, Education, News, Numismatica, Numismatics, Opinion

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

I’m an experienced online coin buyer, blogger, and numismatist, and even I get caught on occasion when auctions do not mention flat bids in their terms of service, which I always read.

In an April 23 session on HiBid.com, there was no mention whatsoever that an online catalog was programmed to take flat bids—an amount that serves as both the opening and maximum bid all in one.

Case in point: If you state $100 for a coin lot, that becomes the starting bid. You will win that coin for that amount if no one else bids. In an online session that closes… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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