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Founded in 2010 in Irvine, California, GreatCollections has auctioned over 1.5 million certified coins and banknotes, surpassing a billion in total value and competing with Heritage Auctions for buyers and sellers alike.
If you're weighing auction premiums and platform value-like many collectors inspired by forums such as GoldFinger1969-this review breaks down reliability, fees, security, and user insights to reveal if it delivers for your coin pursuits, from budget finds to high end rarities.
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After devoting extensive time and effort, we have conducted thorough research within the precious metals industry and compiled a selection of the most trustworthy companies.
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Key Takeaways:
- GreatCollections offers reliable auctions with a vast inventory of certified coins and notes. It has handled over 1.5 million items and $1B+ in sales since 2010. This makes it ideal for collectors seeking quality rarities.
- Fees can impact profits. Yet the platform's end-to-end process ensures security and transparency. Physical possession of items reduces risks for buyers and sellers.
- Beginners and pros benefit from user-friendly navigation and positive reviews. Competition requires strategic bidding. Consignors gain from broad exposure to diverse budgets.
What Makes GC Worth It for Coin Collectors?
Key Pros: Reliability and Vast Inventory
GreatCollections offers top reliability. It specializes in certified rare coins and paper money graded by services like NGC and PCGS. These grades guarantee authenticity and quality for every item.
Slabbed items mean coins sealed in protective holders with grades.
The platform has auctioned over 1.5 million coins and banknotes. It suits collectors of all budgets.
Inventory ranges from lots under $100 to rarities over $1 million. Examples include:
- 1828 Dime
- 1868 Seated Liberty Half Dime
- 1873 Three-Cent Silver
- 1913 Liberty Head nickel, worth $1 million
GreatCollections stores items securely. Buyers get physical possession without shipping risks. This brings peace of mind.
Expert commentary and detailed descriptions highlight beauty. Toned coins have natural colors from age. This boosts bidder confidence.
Check return on investment with fair market values. Use guides like Numismedia and Greysheet. FMV means the true worth based on market data.
Past auction data from Heritage and Stack's Bowers shows strong results. Their colorful catalogs offer great info at major shows. GreatCollections often gives 20-30% higher returns than eBay.
Potential Drawbacks: Fees and Competition
GreatCollections offers great service. But watch for drawbacks like buyer's premiums and competition from houses like Heritage Auctions.
These can cut into your profits.
Key challenges include:
- Buyer's premiums are 15% to 20%. They raise a $10,000 Morgan Dollar's cost to $11,500-$12,000. Set opening bids at fair market value using PCGS guidelines. This stops overbidding. PCGS is a top coin grading service.
- Competition from eBay, Legend, or Stack's Bowers pushes prices up. Use timed online auctions for wider reach in a controlled setting.
- Consignment fees reach 10%. This lowers seller payouts. Cut costs with eCheck or PayPal payments.
- Prices rise 10-15% in December holidays, per Numismatic News. Build a loyal base with mailing lists for steady buyers.
Tip: Do not consign undervalued items without grading. Professional grading prevents disputes. It ensures fair value.
How Do Auction Fees Impact Your Bottom Line?
Fees at GreatCollections include buyer's premiums on winning bids. They raise costs for buyers. Sellers see lower payouts after fees.
GreatCollections started in 2010. It has handled over $1 billion in sales.
The site charges an 18% buyer's premium on the hammer price. This is the final bid amount before fees. It also takes a 10% seller's fee. These rates match what top coin auction sites use, as set by the Professional Numismatists Guild.
Picture a seller offering a beautiful toned Saint-Gaudens double eagle. This classic gold coin draws lots of bids.
Let's say it sells for a hammer price of $10,000. Here's what happens:
- The buyer pays an extra 18% premium, or $1,800. Total cost: $11,800.
- The seller gets 90% after the 10% fee: $9,000.
A buyer bids $5,000 on a similar Saints coin. With fees, the total cost hits $5,900. The fair market value is $5,500 per the CDN CPG guide.
Fees can cut returns by 15-25%. Good item descriptions boost resale value by 10-15%. This helps your profits grow over time. For an extensive analysis of another dealer specializing in American gold coins like the Saint-Gaudens double eagle, our in-depth review of American Gold Exchange covers fees, reliability, and more.
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Is the Platform Secure and Transparent Enough?
GreatCollections keeps strong security and openness. It holds all certified coins and notes in person during the full auction process. Payments use safe options like eCheck and PayPal.
The platform utilizes SSL encryption for all bidding and listing activities, thereby protecting user data from potential interception and unauthorized access.
The site connects with NGC and PCGS APIs for real-time slab verification. NGC and PCGS are top coin grading services.
Buyers can check item authenticity right away. For example, match the coin's grade and details to certified databases.
Every item comes with sharp photos. Expert notes cover eye appeal, varieties, and condition.
This setup helps you make smart bids based on facts.
The site works great on Chrome and Firefox. You get a smooth experience on major browsers.
Based in Irvine, California, it follows U.S. rules from the Coinage Act. It skips blockchain tech for now.
To further enhance account security, users are strongly advised to enable two-factor authentication, particularly to guard against phishing threats originating from external sources.
What Do User Reviews Reveal About Value?
User reviews of GreatCollections underscore its substantial value, with consistent commendations for dependable service and access to premium certified coins, as articulated by collectors such as GoldFinger1969 on BST forums and industry authority Ian Russell.
Collector GoldFinger1969 snagged an 1895-S Morgan Dollar at the FUN Show or EAC Convention in St. Louis. He used PCGS guides to bid smart and saw 15% growth in a year over market value.
Key tip: Time your bids at big events to avoid paying too much.
Ian Russell praises the clear descriptions for paper money. The exact grading builds trust.
This stands out against less open rival sites.
One consignor noted the ability to sell rare items at prices competitive with those of Stacks Bowers auctions, while benefiting from GreatCollections' efficient processes that eliminate the complexities associated with traditional auction houses.
The site has sold over 1.5 million items. Buyers rate it 98% satisfactory.
Reviews share tips to boost returns:
- Check pricing guides.
- Pick lively markets wisely.
Can Beginners Easily Navigate and Succeed?
New collectors love GreatCollections. The easy interface suits everyone, from beginners to pros.
You can find coins under $100 to start small.
To commence participation, adhere to the following procedures:
- Create a complimentary account in approximately five minutes by submitting essential personal information and confirming your email address; no credit card is required at the outset.
- Explore the available inventory through specialized filters for coins certified by PCGS or NGC; employing search criteria such as "Morgan Dollars" or "Saints" will reveal thousands of selections priced below $100.
- Establish payment methods including eCheck or PayPal, then submit bids incorporating a predefined maximum threshold to prevent excess expenditure; consult the Greysheet for accurate fair market value (FMV) information provided by CDN Publishing.
- Monitor your auction progress through email notifications and complete payment within one to two days following a successful bid; initiate with modest stakes on items under $100.
An initial auction may conclude within 15 to 30 minutes.
Prevalent challenges include disregarding the 18-20% buyer's premium or neglecting to review item descriptions for particulars on the aesthetic value of toned coins, in accordance with PCGS grading criteria.
How The Company Evolved Since 2010?
Founding in Irvine and Sales Milestones
The company started with small local consignments in Southern California. By 2012, it grew nationwide using online auctions to reach collectors everywhere.
A landmark event occurred in December 2013 when GreatCollections auctioned the exceptionally rare 1828 Capped Bust Dime, certified by PCGS as MS-67 and sold for more than $500,000-the price realized demonstrating the firm's proficiency in handling premium numismatic rarities.
Key benefits encompass scalable inventory expansion, enabling sellers across various budget levels to consign items ranging from everyday circulated coins to exquisite numismatic masterpieces. This is bolstered by strategic partnerships with leading grading services, such as PCGS and NGC, which provide essential authentication.
Early participants realized substantial returns on investment, with auction prices demonstrating consistent appreciation. According to Numismedia data, key numismatic categories have experienced an average annual market growth of 25% since 2010, transforming consignments into lucrative opportunities through transparent bidding processes and international market exposure.
What Types of Certified Coins and Notes Are Featured?
GreatCollections offers a comprehensive selection of certified coins and currency, encompassing rare U.S. specimens such as Morgan Dollars, Saint-Gaudens double eagles, and toned varieties, all authenticated by NGC and PCGS. These items are prominently featured at prestigious events, including the FUN Show and the Early American Coppers (EAC) Convention.
For numismatic enthusiasts, GreatCollections provides a secure and reliable platform for bidding on verified artifacts, with a strong emphasis on physical possession and meticulous provenance documentation, distinguishing it from undifferentiated online marketplaces. The table below delineates key categories to inform acquisition decisions:
| Type | Examples | Certification | Best For | Key Features |
|---|---|---|---|---|
| Coins | 1895-S Morgan Dollar | NGC/PCGS slab | High-end collectors | Exceptional eye appeal and variety designation; auction realizations reaching up to $500,000, according to PCGS records |
| Paper Money | 1869 $1 Legal Tender Note | PMG | Dealers | Significant historical value; superior preservation enhances resale potential by 20-30% |
| Rarities | 1873 Three-Cent Silver | CAC-approved | Consignors | Premium valuation; rigorous quality standards yield 15% higher bid averages |
Novice collectors are encouraged to commence with slabs valued under $100 to build foundational knowledge, while seasoned experts may pursue exceptional pieces exceeding one million dollars. In contrast to the ambiguous listings commonly encountered on platforms like eBay, GreatCollections delivers professional-grade imagery and impartial third-party authentication, thereby mitigating fraud risks in alignment with American Numismatic Association (ANA) standards.
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How Does the End-to-End Auction Process Work?
GreatCollections handles the full auction process.
They keep certified items safe from start to finish, offering strong protection for buyers and sellers.
Picture this process in four key steps. It keeps things simple and secure.
- Consignment: Submit high-resolution photographs and grading information for a complimentary evaluation, which typically requires 1-2 weeks.
- Auction Preparation: Our experts create detailed descriptions with pro tips. They set starting bids using Fair Market Value from the Greysheet price guide and add colorful images to draw in bidders.
- Bidding Phase: The online platform facilitates auctions lasting 7-10 days, with participants able to place maximum bids through PayPal.
- Auction Closure: The realized price is announced, followed by settlement via eCheck within three days, and secure, insured shipping to the buyer.
The whole process takes 2-4 weeks. Watch out for the 18% buyer's premium and always check that item slabs are real.
Slabs are the protective holders for certified coins.
Who Benefits Most: Collectors, Dealers, or Consignors?
Collectors, dealers, and consignors all win big on GreatCollections. The site boasts over $1 billion in sales and gives everyone fair access to the coin market, known as numismatics.
Collectors love the access to over 1.5 million certified coins. Think rare Morgan dollars, with bids starting under $100.
Build your collection here without the fierce fights at big names like Heritage, Stacks, or Legend, or online platforms like CoinsOnline.
- Access to 1.5M+ items
- Low competition
Dealers can consign in bulk at events like the St. Louis EAC show. Targeted mailing lists help sell fast, though high-value deals might cost up to 10% in fees.
- Bulk consignments
- Targeted mailing lists
Consignors get full support for rare treasures like the 1895-S Morgan dollar. Payouts come quick after auctions, but market ups and downs bring some risks.
- End-to-end rarity handling
- Quick payouts
PCGS data and experts like GoldFinger1969 agree. GreatCollections fits any budget and beats eBay at handling top certified coins, with 98% of buyers happy.