Heritage Submission Shock!

[Coinery 1,156]

Now here's a turn up for the book!

I have a couple (two) coins of around a £1000 the pair, which I thought I'd submit to Heritage to try them out!

I received an email today apologising that they couldn't accept my submission, as it didn't meet their minimum requirement of $5000!

[Accumulator 52]

Now here's a turn up for the book!

I have a couple (two) coins of around a £1000 the pair, which I thought I'd submit to Heritage to try them out!

I received an email today apologising that they couldn't accept my submission, as it didn't meet their minimum requirement of $5000!

Wow! I just sold a single penny for $350 through Heritage. Admittedly I'd previously bought it from them, by mistake (I wasn't concentrating and actually wanted and secured the following lot). No mention of a $5,000 minimum though!

[Rob 3,152]

Presumably it won't be long before purchases have to be a minimum value too. Obviously doing too well and feel the need to discourage business. Go elsewhere chaps.

[Coinery 1,156]

"Thank you for your interest in Heritage Auctions. Unfortunately the item you have submitted does not meet our minimum value threshold for sale at auction or for direct purchase. Our minimum consignment value is $5000."

[jaggy 528]

I have bought from Heritage but never tried to sell through them. Generally, I am very happy with the quality of service they deliver. Auction info is clear, the photos are excellent and delivery of won lots prompt. Certainly, some lots go for way more than I think they are worth. But it is hardly the fault of Heritage if American collectors are willing to pay silly money.

[Peckris 579]

"Thank you for your interest in Heritage Auctions. Unfortunately the item you have submitted does not meet our minimum value threshold for sale at auction or for direct purchase. Our minimum consignment value is $5000."

"Consignment" is total submission per auction. Presumably your two coins would have been fine with others making weight?

[Coinery 1,156]

"Thank you for your interest in Heritage Auctions. Unfortunately the item you have submitted does not meet our minimum value threshold for sale at auction or for direct purchase. Our minimum consignment value is $5000."

"Consignment" is total submission per auction. Presumably your two coins would have been fine with others making weight?

Yes, I would say so...but that's a remarkably privileged position they find themselves in, that they can turn their nose up at a grand's worth of coins or, putting it a different way, around £300 of profit (buyers & sellers prem.) from handling 2 coins!

I was genuinely surprised!

[azda 979]

Arrogant

[Peckris 579]

"Thank you for your interest in Heritage Auctions. Unfortunately the item you have submitted does not meet our minimum value threshold for sale at auction or for direct purchase. Our minimum consignment value is $5000."

"Consignment" is total submission per auction. Presumably your two coins would have been fine with others making weight?

Yes, I would say so...but that's a remarkably privileged position they find themselves in, that they can turn their nose up at a grand's worth of coins or, putting it a different way, around £300 of profit (buyers & sellers prem.) from handling 2 coins!

I was genuinely surprised!

Yes, I agree. Unless their clientele is mainly oil sheikhs and Russian oligarchs with $$$ to burn, I can't see how their position is strengthened by refusing perfectly good lots.

[VickySilver 831]

They really are about money after all. No small fry allowed I guess. Just curious as to why not selecting a Brit auction house?

Obviously Heritage's exposure for flashy bits can bring absolutely crazy prices, so they may still be an option. Never have used

them myself but might given the right circumstances...

Which brings up the larger topic: where does one go to sell a 500 or 1000 quid coin? I sold a couple of G5 proofs a few years ago through Spink and despite the price rises in these coins, LOST money due to all the costs....