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Moderator
 United States
54282 Posts |
What is the ebay item number for the item in question? Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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New Member
 United States
18 Posts |
It's not a specific coin I'm questioning in this case. The best way to see what I'm talking about is to go to terapeak and paste in the following info (I'm using a bicentennial Eisenhower coin as an example): 1776 1976 Eisenhower dollar -ngc -anacs -PCGS -proof -ddo -ddr -unc -uncirculated -roll -rolls -"lot of" Scroll down a little ways and just look at a few coins that are not error coins or anything special. Now go to ebay, paste in the same string and sort by lowest first. Look at the coins there. There's nothing remarkable about either one (the dollars seen on Terapeak or ebay), yet they're MUCH higher on Terapeak (which again is showing you actual past sales). On Terapeak, you can also sort to look at only those sold by auction or those sold with By it Now. Either way, you'll see several that have sold for several hundred dollars on Terapeak. I guess the bottom line is, can I trust the sales on Terapeak real or not? It seems like the easy answer would be yes, but then when you see something like what @nfine noted, you have to start questioning things. ############# Just found another example of someone that looks suspect. Similar to what someone earlier was talking about. https://www.ebay.com/itm/125252593131This seller has only been active on ebay since April 2022 and has 0% feedback. They're asking $5000 for an Eisenhower bicentennial coin and mark it as: RARE " no mint mark" A quick Google search finds that this year didn't have a mint mark if minted in Philadelphia. There's no other explanation as to why the coin is rare, so I can only conclude he/she is stating it's rare due to a lack of a mint mark. If that's their justification, that's pretty dishonest in my book. Edited by hikerguy62
01/20/2023 11:48 am
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Pillar of the Community
 United States
735 Posts |
I dont fully grasp what the discussion is about.. ebay is a free market thus people can ask whatever they want for a coin. If someone is willing to pay the listed price is that the fault of the seller? I dont think so, It is ultimately the buyer who is responsible to judge whether or not the price is fair. Obviously ebay has some funny business going on with bots or "scammers" on auctions bidding extremely high on certain coins just to not pay and disappear. I have also had people list special listings for me higher to deter other buyers with an added best offer. I make an offer for the agreed upon price and he accepts. It will show higher in sold listings than the actual final sold price but will say "best offer accepted". I have been on ebay for many years. I feel like I know the market and will only make a purchase after I do the research and am confident the price seems fair. Maybe search sold listings most recent first to get an idea of recent sale prices for fair pricing. I've been collecting for a couple years... Favorite Coin's are Standing Liberty quarters, Working on my type set | Coffee, Corvettes, Coins & the CCF what could be better? Edited by Jakes Coins
01/20/2023 12:05 pm
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New Member
United States
18 Posts |
@Jake Coins I agree with you 100%. My whole point to this discussion boils down to this: Can the prices on ebay's Terapeak website be trusted when trying to decide what to sell a coin for? For example, will I realistically be able to get, say, $500 for an Eisenhower bicentennial that has sold multiple times for over $500 (as seen on Terapeak) when I see many active listing for this coin being sold for under $50. Or am I wasting my time listing for such a high price? In the times we live in, I can easily see someone trying to artificially inflate the price of their coins by posting several at a high price, buying them themselves (or asking a friend to), then relisting them for unsuspecting people to buy at this inflated price. Never thought about this until that one ebay user messaged me, but now I can see that being an issue. You're right. It is a free market and I'm happy to let someone pay a high price. Ultimately, like anything else, coins are worth what someone is willing to pay. I know it's the Wild West on ebay in some cases. |
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Pillar of the Community
United States
3324 Posts |
No one is really paying hundreds of dollars for those coins unless they're in a top pop holder. I suggest using a guide such as Numismedia for your comps if your ebay source appears to be emanating from the Twilight Zone. "Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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New Member
United States
18 Posts |
LOLOLOL That could be the case (and no, they are not in any kind of holders. They look like "plain Jane" coins). Those prices do seem "out there".
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Valued Member
United States
261 Posts |
I have seeing these high dollar sold listings of just normal circulated coins also. When trying to find out a real average price for a coin, I have found it better to search sold listing by auction and sort by number of most bids first. If 20 people bid on the same item, has to be somewhat sought after. I don't trust all these outrageous sold prices with just 1 bid. Somebody is bidding on there own stuff. Has to be. Nobody bought heavily circulated quarter with a blurry photo of it for $3000. No way. Cheaters, scammers, whatever.....
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Pillar of the Community
United States
6506 Posts |
They are fake listings of some form, and have been discussed around here a few times. My theory is that they are one of the following: 1. Kids joking around, posting ridiculous coins for huge prices. Maybe they hope someone will buy a coin, probably not. 2. Crazy people. It's the Internet, after all. 3. It's a criminal front listing for something other than a coin. Crooks in the know buy the listing and receive a different good, ebay is their broker. 4. Credit card scammers using stolen cards to purchase fake coin listings from themselves. 5. Money laundering of some form. |
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Pillar of the Community
United States
3535 Posts |
I sell antiques & vintage items on ebay (not coins) and I feel like there are scams of all types coming from all directions, based on communications I have received from (buyers) over the years. Don't think badly of me but over a year ago, before joining CCF Coin Community I decided to try and sell some coins from my collection. Specifically the 1964-D Lincoln Cent "L" on edge. Now I had seen plenty of auctions for that specific coin, sell for $1000 ++ over and over again. I didn't know any better. I had collected coins and inherited coins collections for 50+ years but honestly knew nothing about errors on coins. I sold one of my '64-D "L" on edge for $500. It was in Uncirculated amazing condition but I truly thought that it was a rare error coin. The next week is when I joined this Forum and also really started studying about Errors on coins. I learned that "L" on edge was not a true error. My point is while I and perhaps many others sell/have sold items because "They saw it on ebay" sell for $$$$, without knowing any better, there are 10x that many sellers who purposely sell items (coins) knowing that they are pricing them dishonestly to scam people. Also I truly believe that these same people set up false sales to boost their ability to make more dishonest sales. (It wouldn't be so hard to do on ebay) Buyer Beware I guess. I have since decided to hold off selling coins until I know alot more about the whole gammit of Errors on Coins (legitimate ones). Still Learning! |
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Pillar of the Community
United States
6506 Posts |
So someone actually bought that coin for $500? How is that possible? At some point, one would reason that the supply of fools purchasing worthless coins would dry up because people run out of money.
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Pillar of the Community
United States
3535 Posts |
I thought it was the greatest thing! The buyer was in China and I got paid & shipped it never to hear anything about it. It was over a year ago, and would have think that they got caught up in the "Propaganda" on ebay regarding the "L" on edge legend. They made an offer of $500 probably thinking they were getting a deal. Again I didn't know any better (yet), and there where hundreds of "L" on edge's for sale at the time. Not one of my proudest moments. |
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Pillar of the Community
United States
1780 Posts |
..............WORTHLESS COINS SELLING FOR OUTRAGEOUS PRICES......... ....crooks are using ebay, Etsy, & other sites, launder money, & are avoiding investigation because of the lower dollar amounts being transacted ... ...Law enforcement is overwhelmed, & hasn't the resources to go after these transactions ( ...from a good source...a buddy in the Treasury Dept. ... they are having to pass on cases under $500,000, because of the volume of fraud being perpetrated today...) These crooks are "sliding under the wire" ... ... HERE'S HOW IT WORKS: ... You want to buy a prostitute from the pimp/perp for an evening (or drugs, or guns, etc...)... you're told to go online, buy the $1000 worthless coin ... upon paying, you get your hooker ... ... the pimp gets paid, ebay gets their fee (they are unwitting in this), no money directly changes hands, so nothing can be proven in court ... LE doesn't have time to investigate ... everybody's happy, no complaints, & the deal is done ... ...There's a TON of this happening, so when you go to research sold prices, only consider sales between established sellers & buyers ... most of these crooks have little to zero feedback, & are relatively new to the sites ... ...COPYCATS: are sellers with little to zero knowledge of coins, but see the crooked deal sold prices, & assume the price is legit ... this happens a lot, also ... not crooks, just folks thinking they have something valuable, that's not ... that's why you may have been contacted as to why you have a worthless item priced so high ... ...this scenario applies to a lot of other items, not just coins ... hope this helps ... Edited by mrwiskers
12/28/2023 4:42 pm
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Pillar of the Community
United States
6506 Posts |
Bicentennial quarters must be the hotbed of criminal activity. ebay is neck deep in listings for 1976 quarters for hundreds or thousands of dollars. Many of the sellers have names like marijuanita420. |
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Pillar of the Community
United States
3535 Posts |
So your saying I coulda got 1/2 a hooker form my '64 "L" on edge?
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Pillar of the Community
United States
1780 Posts |
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Replies: 23 / Views: 4,395 |
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Posted 01/20/2023 10:38 am
