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How To Sell Coins



Consignment Policies


Overview

Send your coins, with a completed Teletrade Consignment Forms or a packing list detailing the denomination, date, and grade of each coin as well as its approximate market value. Under normal circumstances, coins will be auctioned 2 to 6 weeks after we receive them. Prior to auction, you will receive an inventory report stating which auctions your coins have been scheduled for and what lot numbers they have been assigned. Consignors are charged a seller's fee which is calculated according to the selling price. Click here for more information.


Image Policy/Ownership

Many of the items offered by Teletrade, Inc. in our auctions are imaged. Therefore, we may create one or more images of the item(s) you consign with us. By consigning your item(s) with Teletrade, Inc. you agree that we may create images of the item consigned and use the image(s) in our auctions, Prices Realized Guide, and other marketing and non-marketing materials made available to the public and used internally by our staff. Further, you agree that, in consideration of Teletrade, Inc. accepting your consignment and including your item(s) in our auctions Teletrade, Inc. will be the sole owner of all intellectual property rights in and to the image(s) created by Teletrade, Inc. or its agents, and that Teletrade will continue to own all rights to the image(s) after the auction closes and the item either sells or is/are returned.


Material

Any coin certified and encapsulated by PCGS, NGC, ANACS, ICG or NCS may be consigned to Teletrade®. In addition, any currency certified by PCGS or PMG may be consigned to Teletrade®. Teletrade® reserves the right to return any coin it considers inappropriate for its auctions. Coins accepted for consignment may be described in our lot listings by our consultant.


Scheduling

Teletrade reserves the right to place coins in whichever of its auctions it feels is most appropriate. Coins from a single consignment may be assigned to more than one auction. Generally, multiples of coins which are identical by grade, grading service, and date will be offered together as a single "bulk/dealer" lot. Coins submitted for auction cannot be withdrawn.


Payment

Teletrade® pays consignors within 36 days from the date of auction. Consignors who maintain other consignments with Teletrade® may automatically qualify for early payment as part of our Continous Consignor program at no additional charge (and at Teletrade's discretion, based upon the type and value of coins in future auctions). Please note, when Teletrade pays consignors early for their Consignment, Teletrade does not officially settle a transaction until 36 days after the auction.

The proceeds realized from sale will be applied as follow: (i) to the payment of the Seller’s Fee calculated in the manner set forth under "Seller's Fees"; (ii) to an offset (which each consignor authorizes), against amounts you owe for coins and other property you purchase, the Buyer's Fee on such purchases and other amounts due to Teletrade or its affiliates, and (iii) if you have received a cash advance, to the payment, first, of fees and/or interest on such cash advance, and second, to the payment or reduction of the principal amount of such cash advance (allocated among such sales as Teletrade may determine, in its sole discretion).


"Fast Cash" (Cash Advances)

Fast Cash: Need cash quick? Teletrade offers a generous cash advance program to qualified consignors. We recognize that consignors often require working capital to take advantage of buying opportunities or want to receive anticipated sales proceeds sooner. So, we have created a fast, trouble free program to meet these needs. We require a minimum $10,000 value consignment and checks can often be overnighted within 72 hours after receiving your consignment. For further information, contact Ian Russell at 800-949-2646.


Returns

Although only a small percentage of sales at Teletrade® are returned, if any coin or note is returned by a buyer, it is usually offered in the next available auction. However, Teletrade reserves the right to return it to the consignor within 36 days. Coins that are returned three times are sent back to the consignor.



Send Certified Coins to:

Teletrade
18061 Fitch
Irvine, CA 92614-6018
Phone 949-250-4490
Fax 949-250-9290
E-mail info@teletrade.com



How To Sell Raw Coins
Teletrade®'s Combined Grading / Auction Program

Have your raw coins graded by ANACS, ICG, NCS, NGC or PCGS and then auctioned by Teletrade® and pay no up-front grading fees.

A special agreement between Teletrade® and the grading services now enables you to certify and auction your raw coins in one easy step, in less time, and at lower cost than ever before. ANACS, ICG, NCS, NGC and PCGS will now accept submissions of coins with no advance payment if designated for auction by Teletrade®.

Depending on the grading service, it usually takes between two and six weeks for coins to be graded at PCGS, NGC, ANACS, ICG.

Program Procedures:

  1. Submit your raw coins directly to Teletrade® together with our special submission form for raw coins. You can choose which grading service you would like to grade your coins (ANACS, ICG, NCS, NGC or PCGS). Foreign coins are eligible to be graded by ANACS or NGC.
  2. Once your coins have been graded they will be sent directly to Teletrade® (coins that cannot be graded are returned to the submitter). Teletrade® will process the coins for auction, and then send notification of auction and lot numbers assigned together with the grades.
  3. Teletrade® auctions your coins and deducts grading charges from the sale. Auction fees are outlined in the Teletrade® Consignment Policy and on the submission form.




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