Binion Silver Dollars at Auction
NCS Details Graded coins, including several hundred
silver dollars with the Binion provenance, were auctioned
in Teletrade’s new series of Sunday Auctions beginning
Teletrade’s Sunday Auctions feature NCS Details
Graded and Genuine Only encapsulated coins. Held every
Sunday, these auctions give buyers and sellers a tremendous
opportunity to trade NCS-graded coins as well as bid
on coins from the famous Binion collection.
“We are very pleased to see Teletrade host these
auctions of NCS-certified coins,” says Brian Silliman,
NCS Assistant Director of Operations. “It speaks
volumes to the popularity and market acceptability of
our product. We are also proud to have been selected
to certify coins from the Binion collection.”
Uncertified coins can be submitted to NCS for certification
and then sent to Teletrade on behalf of the submitter.
Coins that have already been certified by NCS can be
sent to Teletrade directly. For information on how to
have coins graded and consigned to Teletrade’s
NCS auction, visit www.teletrade.com/ncs.
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Coins Require a Closer Look
There can be great opportunities in uncertified coins,
but they also come with significant risks. More than
anything else when buying uncertified coins, you need
to look very carefully at the surfaces, especially when
toning or residues are present.
Some dealers and collectors have begun buying uncertified
coins that are discounted due to residues, unsightly
tarnish or other foreign materials with the idea under
the residues lay beautiful, eye appealing surfaces that
will be made visible by conservation.
While this is true in many cases, sometimes an expensive
but important lesson is learned instead – a lesson
about how tarnish and residues can hide more significant
One of the more common techniques used to hide problems
is to apply residues such as PVC or oils to the surface
of the coin. By doing this, minor blemishes and even
severe hairlines can be obscured enough that, if not
looked at carefully, they may be missed.
Another frequent problem that we are encountering involves
tarnish, which can also hide significant surface problems.
This type of toning may be intentionally applied to
the coin or may develop as a result of the improper
cleaning that it now obscures.
In either case, the best way to catch these problems
is to look at the coin carefully under the correct light.
We recommend a 75 to 100 watt incandescent bulb. By
doing this, the luster reflects the light and impairments
become much easier to see.
If you look carefully at the surfaces of your coins
and use the ideal lighting when doing so, you should
be able to spot and avoid purchasing coins with hidden
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