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I Smell A Rat
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I went to bid on some coins and these major red flags came up.
1. They regularly sell 2015 American Silver Eagle Dollar Bullion coins. Their Estimate is $100-$150. They all "sell" for $40-$70 not including BP (18.5%). So people are buying these coins for upwards of $70? Coins that you can buy on Ebay, any online coin dealer, pawn shops, and bullion dealers for between $20-$29. Either these mysterious "floor" people are just insane or these are fake bids to trick some unsuspecting bidder to take the bait.
2. On 4/27/2015 & 5/14/2015 they auctioned off a 1909 S VDB penny (Item # 240 & 400 respectively). This coin is graded by PCGS, "genuine ungradable". Basically a filler. Worth on the open market between $250-$400. Their estimate was $3,000-$3,500 it "sold" both times for $3,000 plus BP. Something's really phony here. I feel sorry for anyone who purchases from them.
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