News and Blog
Teletrade announces new 2013 policy and procedure changes 
by Corey Maita on Friday, December 28, 2012
Here at Teletrade, we take pride in the fact that we not only listen to our clients' concerns, but also continue to seek ways of improving our auction process.
In just the past twelve months, Teletrade has launched a brand new website, introduced email and text message outbid notifications, and added several new site enhancements, including third party market pricing information, grading population guides and detailed coin technical data and mintages. And as we prepare to bring 2012 to a close, we are committed to providing you with even more improved opportunities for buying and selling certified coins and currency in the upcoming year.
Beginning December 30, 2012, Teletrade will implement the following changes:
One Auction Per Week: Teletrade will conduct only one auction per week that will focus on offering selected, pre-screened, high-quality collector coins and paper money. Each auction will open for bidding on Monday at 3:00pm ET and bidding will close the following Sunday at 10:00pm ET. You will never bid against a hidden reserve. Our first week-long auction will take place the week of January 7-13, 2013.
Zero Seller's Fees. Zero Buyback Fees. Zero Listing Fees: Qualified consignments will enjoy the lowest selling fees in the industry. If you are interested in consigning, please click here or call 800.949.COIN.
Updated Buyer's Fee: Teletrade will change its buyer's fee to an industry-standard 17.5% beginning with Auction 3412.
Gold Rewards Ending: Following Auction 3407 on Sunday, December 30, 2012, Teletrade will discontinue the Gold Rewards program. All previously earned Gold Rewards points will be honored through June 30, 2013, or until the expiration date arrives, whichever comes first.
As always, Teletrade customers can continue to expect industry leading customer service, professional images of every lot offered, free auction archives, and free shipping of auction purchases for first-time buyers.
We sincerely appreciate that you have chosen Teletrade for your numismatic online auction needs and look forward to serving you again in 2013. Stay tuned for additional upcoming enhancements with an eye on industry leading payment terms and services.
Sincerely,
Corey Maita
President
Teletrade
Here at Teletrade, we take pride in the fact that we not only listen to our clients' concerns, but also continue to seek ways of improving our auction process.
In just the past twelve months, Teletrade has launched a brand new website, introduced email and text message outbid notifications, and added several new site enhancements, including third party market pricing information, grading population guides and detailed coin technical data and mintages. And as we prepare to bring 2012 to a close, we are committed to providing you with even more improved opportunities for buying and selling certified coins and currency in the upcoming year.
Beginning December 30, 2012, Teletrade will implement the following changes:
As always, Teletrade customers can continue to expect industry leading customer service, professional images of every lot offered, free auction archives, and free shipping of auction purchases for first-time buyers.
We sincerely appreciate that you have chosen Teletrade for your numismatic online auction needs and look forward to serving you again in 2013. Stay tuned for additional upcoming enhancements with an eye on industry leading payment terms and services.
Sincerely,
Corey Maita
President
Teletrade
Teletrade Announces 2-Day Post-ANA Sale
by Kris Briggs on Wednesday, August 22, 2012
Featuring Over 5,300 Newly Consigned Coins from the
American Numismatic Association (ANA) 2012 World's Fair of Money
and a Chance to Win One of Three Certified Gold Liberty Coins
Teletrade, America's premier Internet auctioneer of certified coins and currency, is excited to announce its 2-Day Post ANA Sale, August 26 and 27, 2012.Auction 3335 begins Sunday, August 26, from 3:00pm-10:00pm ET, and Auction 3336 begins Monday, August 27, from 3:00pm-10:00pm ET.
Incredible Selection of Historic and Newly Consigned Coins
With special auctions devoted to remarkable coins obtained from the 2012 ANA Convention, participants of this 2-day sale will have the chance to bid on over 5,300 newly consigned coins.
Click here for more information.
Featuring Over 5,300 Newly Consigned Coins from the
American Numismatic Association (ANA) 2012 World's Fair of Money
and a Chance to Win One of Three Certified Gold Liberty Coins
Teletrade, America's premier Internet auctioneer of certified coins and currency, is excited to announce its 2-Day Post ANA Sale, August 26 and 27, 2012.Auction 3335 begins Sunday, August 26, from 3:00pm-10:00pm ET, and Auction 3336 begins Monday, August 27, from 3:00pm-10:00pm ET.
Incredible Selection of Historic and Newly Consigned Coins
With special auctions devoted to remarkable coins obtained from the 2012 ANA Convention, participants of this 2-day sale will have the chance to bid on over 5,300 newly consigned coins.
Click here for more information.
Tuesday Auction #3321 Canceled
by Corey Maita on Wednesday, August 01, 2012
Dear Valued Customers,
Last night we took a proactive measure to take Teletrade.com offline as a result of technical issues that we were experiencing. We have since addressed the issues, restored the site online and it is again functioning at a high level with no security concerns. I can assure you that all issues have been addressed and no customer information was ever at risk or compromised.
All the coins offered in last night’s cancelled Tuesday No Reserve Auction, will be offered in Auction 3333 on Tuesday August 21st.
We apologize for any inconvenience and please don’t hesitate to call us at 800.949.COIN with any questions.
Thank you,Corey and the Teletrade Staff
Dear Valued Customers,
Last night we took a proactive measure to take Teletrade.com offline as a result of technical issues that we were experiencing. We have since addressed the issues, restored the site online and it is again functioning at a high level with no security concerns. I can assure you that all issues have been addressed and no customer information was ever at risk or compromised.
All the coins offered in last night’s cancelled Tuesday No Reserve Auction, will be offered in Auction 3333 on Tuesday August 21st.
We apologize for any inconvenience and please don’t hesitate to call us at 800.949.COIN with any questions.
Thank you,Corey and the Teletrade Staff
Corey Maita Promoted to President of Teletrade
by Kris Briggs on Friday, May 25, 2012
Spectrum Group International, Inc. (SPGZ.pk) subsidiary, Teletrade, America's premier Internet auctioneer of certified coins and currency, announced today that Corey Maita has been appointed as president. Maita joined the company in November 2011 as vice president of business development.
Since joining Teletrade, Maita has led the company in its day-to-day activities and engineered an impressive list of highly successful events and projects. The company's special 25th Anniversary Auction in December 2011 realized over $1 million, April's Best of Spring Sale realized more than $800,000, and April 2012 was Teletrade's best month in sales volume since November 2010. In addition, Maita oversaw the re-launch of the company's website with a multitude of new user-friendly functions, including an auction countdown timer, and increased bidding transparency by eliminating hidden reserves.
"In his relatively short time at Teletrade, Corey has demonstrated great leadership, commitment and dedication, as well as an in-depth understanding of numismatic e-commerce, all of which have already begun to positively affect and influence Teletrade. I am grateful that Corey has accepted the challenge of leading Teletrade, giving it the full-time attention and dedication it deserves. I have complete confidence that Corey will lead Teletrade's services to the next level," said Greg Roberts, CEO of Spectrum Group International, Inc.
Maita's professional career in numismatics began as a sophomore at the University of Florida when he and two partners founded Gainesville Coins in Lutz, Fla. Maita and his partners successfully transitioned Gainesville from eBay to their own e-commerce-focused company website and eventually grew the company to accomplish $300 million in annual sales with an A+ rating from the Better Business Bureau.
Established in 1986, Teletrade is the largest and most active marketplace for certified coins and currency with more than 189,000 registered bidders and over 300,000 lots featured in our auction system each year. Teletrade offers 25,000 to 30,000 coin and currency lots each month in auctions held every Sunday, Monday, Tuesday and Wednesday, plus advertised special event sales on other days of the week. Teletrade is a subsidiary of Fortune 500-ranked Spectrum Group International, Inc.
Spectrum Group International, Inc. (SPGZ.pk) subsidiary, Teletrade, America's premier Internet auctioneer of certified coins and currency, announced today that Corey Maita has been appointed as president. Maita joined the company in November 2011 as vice president of business development.
Since joining Teletrade, Maita has led the company in its day-to-day activities and engineered an impressive list of highly successful events and projects. The company's special 25th Anniversary Auction in December 2011 realized over $1 million, April's Best of Spring Sale realized more than $800,000, and April 2012 was Teletrade's best month in sales volume since November 2010. In addition, Maita oversaw the re-launch of the company's website with a multitude of new user-friendly functions, including an auction countdown timer, and increased bidding transparency by eliminating hidden reserves.
"In his relatively short time at Teletrade, Corey has demonstrated great leadership, commitment and dedication, as well as an in-depth understanding of numismatic e-commerce, all of which have already begun to positively affect and influence Teletrade. I am grateful that Corey has accepted the challenge of leading Teletrade, giving it the full-time attention and dedication it deserves. I have complete confidence that Corey will lead Teletrade's services to the next level," said Greg Roberts, CEO of Spectrum Group International, Inc.
Maita's professional career in numismatics began as a sophomore at the University of Florida when he and two partners founded Gainesville Coins in Lutz, Fla. Maita and his partners successfully transitioned Gainesville from eBay to their own e-commerce-focused company website and eventually grew the company to accomplish $300 million in annual sales with an A+ rating from the Better Business Bureau.
Established in 1986, Teletrade is the largest and most active marketplace for certified coins and currency with more than 189,000 registered bidders and over 300,000 lots featured in our auction system each year. Teletrade offers 25,000 to 30,000 coin and currency lots each month in auctions held every Sunday, Monday, Tuesday and Wednesday, plus advertised special event sales on other days of the week. Teletrade is a subsidiary of Fortune 500-ranked Spectrum Group International, Inc.
New Teletrade Website Features
by Corey Maita on Friday, May 25, 2012
Teletrade is proud to announce the highly anticipated enhancements to our new website. The site's new features are designed to help educate all bidders, from the novice numismatist to the season collector, by providing each auctioned lot with Coin Specifications, Grading Populations, and Market Values from the industry's leading sources of numismatic information. We are very excited to offer our clients this greatly upgraded auction platform and hope you share in the excitement!
We hope you enjoy Teletrade's new website features and look forward to providing you with continued improvements in the coming months!
Teletrade is proud to announce the highly anticipated enhancements to our new website. The site's new features are designed to help educate all bidders, from the novice numismatist to the season collector, by providing each auctioned lot with Coin Specifications, Grading Populations, and Market Values from the industry's leading sources of numismatic information. We are very excited to offer our clients this greatly upgraded auction platform and hope you share in the excitement!
| A. Market Price Guide • Numismedia Fair Market Values • Coin World-Coin Values • Collectors Universe B. Population Guide • NGC Populations Statistics • PCGS Populations Statistics | C. Coin Specifications • Mintage • Mint location • Designer • Composition • Weight • Melt Value • Diameter • Edge |
We hope you enjoy Teletrade's new website features and look forward to providing you with continued improvements in the coming months!
Changes to Teletrade Bidding Policy
by Corey Maita on Wednesday, May 23, 2012
Dear Teletrade Consignors and Bidders:
As most of you are probably aware, over the past six months Teletrade Inc. has made many exciting changes to the website and overall functionality of our auction platform. We believe all of these changes will offer both our bidders and consignors a better auction experience, and a better opportunity to buy and sell through Teletrade.
Effective June 3, 2012, Teletrade will be making a change to our reserve/buyback logic. We will no longer require one bid per bid increment, which will result in opening bids that are one bid increment over the reserve. We will now be allowing bidders to meet the reserve price of the opening bid.
Here is an example of the current reserve system, wherein a bidder is required to bid one increment over the reserve.
Consignor Reserve: $100
Current/Opening Bid: $100
Next Bid: $110 (Live Bid)
Here is an example of the new reserve system. With this system a bidder can meet the reserve of the consignor, and potentially win the lot at that level.
Consignor Reserve: $100
Opening Bid: $100
Next Bid: $100 (Live Bid)
In addition to this reserve change, we will be also changing the Max bid structure to allow bidders to place multiple Max bids sequentially. What this means is we will no longer require Max Bids to be at least two increments over the prior Max bid.
For more information on our bidding policy and bidding increments, click here.
Please do not hesitate to call us at 1.800.949.2646 with any questions regarding these new changes. We appreciate the opportunity to handle all of your buying and selling needs, and look forward to providing you with continued excellent service.
Sincerely,
Corey Maita
President
Dear Teletrade Consignors and Bidders:
As most of you are probably aware, over the past six months Teletrade Inc. has made many exciting changes to the website and overall functionality of our auction platform. We believe all of these changes will offer both our bidders and consignors a better auction experience, and a better opportunity to buy and sell through Teletrade.
Effective June 3, 2012, Teletrade will be making a change to our reserve/buyback logic. We will no longer require one bid per bid increment, which will result in opening bids that are one bid increment over the reserve. We will now be allowing bidders to meet the reserve price of the opening bid.
Here is an example of the current reserve system, wherein a bidder is required to bid one increment over the reserve.
Consignor Reserve: $100
Current/Opening Bid: $100
Next Bid: $110 (Live Bid)
Here is an example of the new reserve system. With this system a bidder can meet the reserve of the consignor, and potentially win the lot at that level.
Consignor Reserve: $100
Opening Bid: $100
Next Bid: $100 (Live Bid)
In addition to this reserve change, we will be also changing the Max bid structure to allow bidders to place multiple Max bids sequentially. What this means is we will no longer require Max Bids to be at least two increments over the prior Max bid.
For more information on our bidding policy and bidding increments, click here.
Please do not hesitate to call us at 1.800.949.2646 with any questions regarding these new changes. We appreciate the opportunity to handle all of your buying and selling needs, and look forward to providing you with continued excellent service.
Sincerely,
Corey Maita
President
Teletrade Internet Auctions Announces Launch of Newly Designed Website
by Corey Maita on Thursday, February 02, 2012
Teletrade Reaffirms its Dedication to Providing Customers With the Best in Service and Technology
Irvine, CA - Teletrade, America's premier Internet auctioneer of certified coins and currency, is proud to announce the new Teletrade.com, lanched February 2, 2012. The new website features a fresh look, easy navigation, and increased focus on our collectors' and consignors' needs. In addition to the redesign Teletrade has also made several changes to the bidding structure, most notably, No Hidden Reserves -all bidding will now open at the opening bid or one bid increment below the reserve to increase bidding transparency.
"Our customers have asked for these changes and we have listened. For 26 years Teletrade has been a leader in the coin collecting hobby with unmatched product selection and customer service, and we now have a website to match. Teletrade will continue to add features and provide the tools our users are asking for and we are excited to reveal the next feature enhancements shortly. Stay tuned!" says Corey Maita, VP of Business Development.
New Features Include:
Improved image quality - Our professionally imaged lots are now three times the resolution of previous Teletrade images. New image viewer allows users to effortlessly inspect every auction lot. "One-click" Track and Bid features - Customers can now add lots to their tracking with a single click. Improved search interface - Collectors and consignors can now more easily search over 1.3 million past auction results, quickly, and accurately.
Many of the features you have grown to love about Teletrade remain the same:
Industry leading customer service. Superior selection of certified coins and currency with Teletrade offering approxametly 10,000 coin and currency lots per month. Fast delivery of purchases with winning orders being shipped within 24 to 48 hours of payment. Teletrade Gold Rewards, the industry leading customer loyalty program that rewards customers for buying in Teletrade auctions with perks and gifts, including gold and silver coins, discounts on auction purchases, free shipping, popular numismatic books, and more! First-time buyers receive free shipping for a month following their first purchase! Generous cash advance program for qualified consignors.
Find what you are looking for... faster than ever at the NEW Teletrade.com!
Established in 1986, Teletrade is the largest and most active marketplace for certified coins and currency with more than 190,000 registered bidders and over 300,000 lots featured in our auction system each year. Teletrade offers 25,000 to 30,000 coin and currency lots each month in auctions held every Sunday, Monday, Tuesday and Wednesday, plus advertised special event sales on other days of the week. Teletrade is a subsidiary of Fortune 500-ranked Spectrum Group International, Inc. Visit our site for detailed information on auctions and prices realized, or call 800.949.2646 to speak to a representative. For media inquiries ask for Kris Briggs, marketing manager.
Teletrade Reaffirms its Dedication to Providing Customers With the Best in Service and Technology
Irvine, CA - Teletrade, America's premier Internet auctioneer of certified coins and currency, is proud to announce the new Teletrade.com, lanched February 2, 2012. The new website features a fresh look, easy navigation, and increased focus on our collectors' and consignors' needs. In addition to the redesign Teletrade has also made several changes to the bidding structure, most notably, No Hidden Reserves -all bidding will now open at the opening bid or one bid increment below the reserve to increase bidding transparency.
"Our customers have asked for these changes and we have listened. For 26 years Teletrade has been a leader in the coin collecting hobby with unmatched product selection and customer service, and we now have a website to match. Teletrade will continue to add features and provide the tools our users are asking for and we are excited to reveal the next feature enhancements shortly. Stay tuned!" says Corey Maita, VP of Business Development.
New Features Include:
Many of the features you have grown to love about Teletrade remain the same:
Find what you are looking for... faster than ever at the NEW Teletrade.com!
Established in 1986, Teletrade is the largest and most active marketplace for certified coins and currency with more than 190,000 registered bidders and over 300,000 lots featured in our auction system each year. Teletrade offers 25,000 to 30,000 coin and currency lots each month in auctions held every Sunday, Monday, Tuesday and Wednesday, plus advertised special event sales on other days of the week. Teletrade is a subsidiary of Fortune 500-ranked Spectrum Group International, Inc. Visit our site for detailed information on auctions and prices realized, or call 800.949.2646 to speak to a representative. For media inquiries ask for Kris Briggs, marketing manager.
Teletrade's 25th Anniversary Auction Event Tops $1 Million in Sales!
by Brian Kendrella on Friday, January 13, 2012
2011 was an amazing year for Teletrade and we capped it off in December with our largest auction ever, a two-day auction event to commemorate our 25th Anniversary that realized over $1 million! The auction drew thousands of bidders and nearly 250 consignors, including many first-time bidders and consignors – welcome!
We take this opportunity now to offer our thanks to all of the consignors who entrusted your coins and currency to Teletrade for auction – we appreciate your confidence in Teletrade to realize great prices on your items.
To the thousands of bidders, thank you for coming to Teletrade for your coin and currency buying. We constantly strive to bring you auctions several times a week as well as special event auctions like this, packed with selections for all interests and levels of collecting. We value your continued business.
We have exciting plans ahead for 2012! As always, Teletrade team members are available to assist you with your consigning and bidding needs, and we look forward to working with you in the coming year.
Thank you, and Happy New Year!
Brian Kendrella, Director of Operations U.S. Collectibles
Corey Maita, Vice President of Business Development
2011 was an amazing year for Teletrade and we capped it off in December with our largest auction ever, a two-day auction event to commemorate our 25th Anniversary that realized over $1 million! The auction drew thousands of bidders and nearly 250 consignors, including many first-time bidders and consignors – welcome!
We take this opportunity now to offer our thanks to all of the consignors who entrusted your coins and currency to Teletrade for auction – we appreciate your confidence in Teletrade to realize great prices on your items.
To the thousands of bidders, thank you for coming to Teletrade for your coin and currency buying. We constantly strive to bring you auctions several times a week as well as special event auctions like this, packed with selections for all interests and levels of collecting. We value your continued business.
We have exciting plans ahead for 2012! As always, Teletrade team members are available to assist you with your consigning and bidding needs, and we look forward to working with you in the coming year.
Thank you, and Happy New Year!
Brian Kendrella, Director of Operations U.S. Collectibles
Corey Maita, Vice President of Business Development
