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 Replies: 87 / Views: 20,706 |
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Bedrock of the Community
United States
10284 Posts |
If ebay is going to only allow PCGS and NGC graded coins as the acceptable certified coins and others are saying that raw coins will not be allowed to be sold on ebay, I would not surprise me if eBay/Paypal is already invested into and holding a lot of stock in those two grading companies. Maybe they are flat out planning to buy PCGS and NGC altogether.  |
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Pillar of the Community
United States
2589 Posts |
Thats part of the new top seller requirements, they still allow sellers to offer no returns but they are removing all return options less than 14 days. Also handling times greater than 1 day and sales without delivery confirmation will not count towards top seller status.
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Pillar of the Community
United States
745 Posts |
Does new ebay Grading policy apply to Canada ebay.com or just USA? like 80%+ coins on Canada ebay.com are ICCS, leading grader of Canadian coins with no website for certification number look up system. What about overseas ebay? |
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Pillar of the Community
 United States
642 Posts |
It's been said that ebay may be doing this to reduce all the fraudulent coin claims, however this makes no sense either as the SELLER is always on the hook for every penny of claims of any kind, legitimate or not......eBay never loses a dime. The process is automated since ebay owns Paypal, and only accepts Paypal as payment method. The procedure is, take money from seller, give to buyer, close case. |
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Pillar of the Community
United States
7840 Posts |
Paypal....or is it; "take money from the buyer, deduct a FEE, then give the remainder to the seller."  Edited by oih82w8
04/18/2012 9:04 pm
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Rest in Peace
United States
10625 Posts |
Sounds like Paypal is more like Pay-up-pal.
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Bedrock of the Community
13014 Posts |
xavier: thanks for the heads up. I'm not that worried about top seller status so I would rather protect myself from people switching out the coin on a return and just say no returns.
nickle: I believe you can still sell raw coins, its just that slabs that dont meet the online cert status will now be considered raw.
rjk: as the seller you actually arent really on the hook that much. I had someone try and claim I never sent their item to them but because I always use tracking information their claim was dismissed. as long as you document what you send and use a tracking number to ship you should be fine.
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Bedrock of the Community
United States
10982 Posts |
For those interested in ebay finance their 1st quarter report was released tonight. From Reuters news: Ebay's stock rose 6.9 percent to $38.35 in extended trading, after hitting $38.83 - the highest level since late 2007.EBay said first-quarter gross merchandise volume on its U.S. Marketplace business was $6.37 billion, excluding vehicle sales. That was up 13 percent from a year earlier. Doug Anmuth, an analyst at J.P. Morgan, had expected $6.13 billion.
ebay's online marketplace added 2 million active users during the first quarter, the most in three years, Donahoe noted. ebay sales in the Coin and Paper Money category have been estimated at $4 billion/yr. |
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Pillar of the Community
United States
7840 Posts |
People are being forced to sell their stuff to help pay the bills. Everything is going up...except our incomes.  Edited by oih82w8
04/18/2012 11:45 pm
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Pillar of the Community
United States
5641 Posts |
I am trying to keep emotion out of my response. I do not see what appears to be a strong conflict of interest, I mean for the top dogs in pcgs to help assist ebay in setting up the new acceptable standards for the coin and paper money portion of the business is more than seedy, actually it borders on collusion, I mean have a founder of the bottom line "accepted companies" from here on out even sounds fishy. I would like to see how all this was brought to be, being IMO some companies worth their weight are actually being banned from having their products stand along with IMO, less superior graders of coins which believe me have their problems with their own companies, being they are NOT incapable of messing up slabs and grades like the rest. I see their premise of doing what appears to be setting a level playing field, and in doing so IMO, have just gone about doing so in a reckless fashion towards the other graders which have NOT been accepted as being good enough to serve the bays multi-billion dollar business. Imagine things reversed and the "chosen two companies" selected were treated like the "unacceptable ones", I do think there is more to be heard about the seemingly seedy behind closed doors dealings of which certain people stand to make mega-bucks. I would like to think this was done in the name of the good for all who cruise the site, however I am cynical and if it walks like a duck, and quacks like a duck, guess what it more than likely is A DUCK..........I have been collecting since 1963 and while slabs have never been my passion, I have not been sleeping, I see the weight people place in the pcgs, ngc slabs, WHY, IDK, I actually believe the grading being performed by the ANACS company is superior to many out there, For customer friendly attributions, service and consistent solid grading from some of the top, known experts in the field, not to mention recognizing the VAMS of the VAM collecting Community and actually attributing more than any other grading company, as far as I know to date, no one else comes close to recognizing the sheer amount that are out there and THEY attribute them.In closing I actually hope things change for the best of the buyers of the Numismatic chosen coins and currency for years to come, do I actually believe this to be the objective and concern for us, NOT!!!!! |
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Bedrock of the Community
13014 Posts |
Morgan The thing though is if you look at the standards there is 0 assessment being made about the quality of grading. None of the standards or requirements that have to be met to be considered in the pcgs ngc level have anything to do with grading quality or whether or not they think the grade is accurate. They arent required to submit example coins to judge their grading accuracy. Forget for a minute who advised them to help make the recommendations which I know a lot of posters are focused on. If you remove that part of it the requirements all seem to be very reasonable and frankly needed considering the venue. All a company has to do to be considered accepted is have graded a substantial number of coins and be able to check the coin and verify it on their website. IGC and ANACS are the ones who have really dropped the ball on this one not having the website cert feature up and running yet. This really has nothing to do with propping up PCGS and NGC and everything to do with ebay protecting themselves from buyer claims. With the current policy if you buy a ANACS or IGC coin in a fake holder ebay is not responsible since they are considered raw. People are much less likely to try with a fake PCGS or NGC holder because you can check it before bidding and then report a fake listing. Fraud is everywhere on ebay and without IGC and ANACS providing a quick way to verify that their holders being listed are real ebay is exposing itself to too much risk. That said there is a chance that something more sinister could be going on here, but with the information currently available we cannot just assume a conspiracy theory. ANACS has already said it will be adding an online feature and once they do and get it running properly they should be added to the PCGS NGC level on ebay. If they continue to get denied after meeting the requirements then we can say that something else is going on, until then though it would appear that they are just trying to protect themselves from buyer claims. ebay certainly has its faults with high buyer fees, the inability to charge a shipping cost that covers shipping on some items, and charging for the cost of shipping as well. But for once they seem to have made a legitimate effort to improve the coins section and reduce the sale of coins in fake holders. |
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Pillar of the Community
United States
2335 Posts |
Quote:Fraud is everywhere on ebay and without IGC and ANACS providing a quick way to verify that their holders being listed are real ebay is exposing itself to too much risk. The idea that ebay is exposed to substantial risk in a transaction is a misconception. In the event of a fraudulent transaction ebay refunds the money to the buyer.....by deducting it from the sellers account. |
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Bedrock of the Community
United States
12437 Posts |
Quote:
IGC and ANACS are the ones who have really dropped the ball on this one not having the website cert feature up and running yet. Online cert lookup is really just lipstick on a pig considering many of the newer counterfeit slabs also clone genuine cert numbers as well. |
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Pillar of the Community
United States
2589 Posts |
Yep, all one needs to do is copy the cert number of a genuine example of a coin and put it in the fake slab along with the fake coin. When you look it up in the system it appears genuine since the coin in the fake slab is a copy of the one in the real slab
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Moderator
 United States
16680 Posts |
I was going to say fake slabs usually have legit cert #'s.
swcoin.ecrater.com
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Posted 04/18/2012 8:24 pm
