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 Replies: 23 / Views: 1,932 |
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Pillar of the Community
United States
4233 Posts |
Post an example so we have something specific to analyze. Could be a wide range of various things. In your price range I'm guessing a lot of these coins are raw. Could be people that are unaware of Numismedia, people only going off what PCGS or NGC price guide says, overgrade the coin, just want it really bad because it's shiny, clueless bidders who think it's the one they saw on a get rich website, shill bidders, etc etc. I can't remember the last time I bid on a coin on ebay. I stick mostly with GC and Heritage now. At least there I feel like I'm up against knowledgeable bidders so if I do win, I won't have overpaid by too much, although bidders certainly go crazy there as well, and I think a lot of them disregard the buyer premium. Edited by kbbpll
03/25/2024 11:31 pm
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Valued Member
 United States
373 Posts |
Surprisingly, I won this auction for a UNC 1909 VDB Lincoln Cent: https://www.ebay.com/itm/355554931969I checked out Numismedia and they had this: 1909 VDB BN MS-63 - $28.80 MS64 - $38.75 So, I figured I did good on this auction. I don't think I overbid. I paid $20.50. I bid on a 1942-D Lincoln Cent: https://www.ebay.com/itm/364773386011I checked out Numismedia and they had this: 1942 D RB MS63 - $4.60 MS64 - $7.48 So, it looks like I did good here too. I don't think I overbid. I paid $1.35. I am bidding on a 1910 Lincoln Cent UNC: https://www.ebay.com/itm/176303013990I don't really know if this coin is considered BN or RB since it's toned. I checked out Numismedia and they had this: 1910 BN MS63 - $28.80 MS64 - $47.50. I don't really know if this is a MS63 or better. My maximum bid right now is $29.00. |
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Valued Member
United States
373 Posts |
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Pillar of the Community
United States
819 Posts |
You can always post a want list. A lot of members have extras that they may be willing to sell. And you won't have to deal with e bay.
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Valued Member
United States
373 Posts |
Thanks, chipjones, I'll keep that in mind.
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Bedrock of the Community
United States
10982 Posts |
The divot in front of the chin on the '24-D we keep me from bidding any higher. I would not guess a grade and then put a Numismedia value on a coin. The prices you come up with will almost always be too high.
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Bedrock of the Community
United Kingdom
17960 Posts |
Sometimes you just need one common date coin to finish a set and, rather than spend endless hours going through trays in coin shops, it's easier to buy the coin on ebay even if you end up overpaying slightly for it. |
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Moderator
 United States
188952 Posts |
Quote:
Life lesson: people tend to overpay in every auction. This must be true. I have yet to win an ebay auction. All my purchases have been buy it now or accepting a seller offer. Quote:
I've never used Numismedia. I use it all the time. I also search previous ebay sales, but these are just price guides. In reality, the price does not exist until the sale occurs and will certainly change with the next sale. |
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Valued Member
United States
373 Posts |
BH1964, I think you meant '42-D not '24-D. I really didn't notice that divot on the chin. Coin collecting is all about learning, also. NumisRob, yes, for me it's easier to buy coins on ebay, even if I end up overpaying slightly for it. |
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Pillar of the Community
 United States
7953 Posts |
A couple of thoughts ... 1. In an honest auction, there is no such thing as overbidding! You and anyone else can see the coin, everyone who wants it bids, the highest bidder wins. That price becomes the market price for that coin. It's not too high, it's not too low, IT JUST IS! 2. One CAN overPAY in a "Buy It Now" or retail situation if you don't do your homework. 3. If you are buying coins on ebay your best reference is the recent selling price of comparable coins on ebay. Remember that "comparable" does not mean coins with comparable descriptions because many sellers on ebay inflate the grade they feel their coin deserves. It means coins with comparable wear, color, defects, etc. As you are seeing, in any given auction you might do slightly better, or you might lose out to somone who wants that specific coin more than you do. |
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Valued Member
United States
373 Posts |
I'll keep that in mind, tdziemia.
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Pillar of the Community
United States
7953 Posts |
Or, more succinctly...
The value of a coin is not what you or I or anyone else, or any guide or catalog says or thinks.
It is what someone is willing to pay for it.
This is why "overbidding" in an honest auction doesn't make any sense. An auction is where the marketplace determines the value of something, whether that is a coin, a Picasso, or a U.S. Treasury note.
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Pillar of the Community
Russian Federation
1557 Posts |
It seems that you forgot about one more, no less important point, "Promotion of the seller." A seller with a stronger rating and sales has a larger customer base and these people tend to pay more.
I've heard stories of a person taking a chance, buying a coin with a bad description and bad photos, and winning the lottery. The coin turned out to be more than attractive, but there are always risks.
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Bedrock of the Community
United States
18681 Posts |
Quote:
eBay sold prices fluctuate also. One auction a coin will sell for $10.00 and another auction for $20 and another $45. So how can I make a proper assessment if the same coin (more or less) sells for different prices? all coin values fluctuate. there are multiple components to pricing. here are just a couple 1. slabbing companies don't get the grade correct all the time. grade the coin and don't rely on the slab grade 2. one F12 coin is not comparable to another. marks, eye appeal etc could alter what someone is willing to pay 3. someone would be more inclined to overpay for a coin if they need that coin and have been looking for one to fit their collection 4. different pricing instruments pull their data differently. |
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Bedrock of the Community
United States
19183 Posts |
Good breakdown, panzaldi.
Essentially, it's the marketplac--in all its glory. Buyer beware. A numismatic marketplace governed by 'price controls' would likely not be a sound idea.
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Posted 03/26/2024 12:07 am
