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Do They Ever Sell Any At These Prices?

 
 
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Valued Member
United States
74 Posts
 Posted 01/09/2019  12:19 pm Show Profile   Bookmark this topic Add John K to your friends list Get a Link to this Message
I am in the process of looking at all the higher priced Canadian & Newfoundland coins on eBay. I found quite a few high grade type coins that are of interest and at prices I feel are in the ballpark.

But what I find hard to believe is the huge number of newer common coins in mint condition that sellers are asking $400 and higher. Like 1964 $1 coin, common date large cents, common date nickels, etc. Why would you spend all that time listing something that is grossly over-priced? I doubt they sell any but interested in your opinions.
Pillar of the Community
United States
1492 Posts
 Posted 01/09/2019  12:21 pm  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
Advertising. It's a draw to the rest of their inventory.
Working on: Peace dollars (two to go), US type (early Bust era), Indian quarter eagles, Chinese pandas, and San Francisco tokens.

"Fear is the enemy of will. Will is what makes you take action; fear is what stops you, and makes you weak."
-- Sinestro to (my avatar) Hal Jordan, "Green Lantern" (2011)
Valued Member
United States
74 Posts
 Posted 01/09/2019  4:02 pm  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply

Quote:
"Advertising. It's a draw to the rest of their inventory."
*** Edited by Staff to add Quote tags. Please use them in the future. ***

For me it has the opposite result. When somebody is offering stuff at 30 times actual value, it makes me want to stay far far away.

I have no problem when they have a vintage coin in perfect shape that they are asking above Trends. I do that with really rare old lures in perfect shape. But common 1960s $1 for $100-$400?! I mean they made a lot of proof like sets those years and most of the coins are still really nice shape.
Forum Dad
Learn More...
United States
19918 Posts
 Posted 01/09/2019  4:10 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
Most of them have best offer enabled and are just looking for offers. eBay forces the seller to also put in an amount so they put one no one will pay and collect offers.
Valued Member
United States
74 Posts
 Posted 02/08/2019  10:23 pm  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply
I still am amazed at what sellers are asking for certified coins! Are you really going to pay 100 times of face value for someting minted just a few years ago just because some grading company says it is MS-67?

And vintage coins are even worse. Any Canada large cent that is "certified" MS-65 red, most sellers want at least $100. And usually a lot more. Rarely do they put them in an auction with a minimal starting price so hard to see what they really bring.

Post a few outrageous examples here and we kin have some fun.
Bedrock of the Community
United States
11969 Posts
 Posted 02/08/2019  10:48 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I still am amazed at what sellers are asking for certified coins! Are you really going to pay 100 times of face value for someting minted just a few years ago just because some grading company says it is MS-67?


Yes and and in many cases much much much more for top pops. The top grades are generally very scare for business strikes. When a coin was minted has no baring on its collectability. ALL coins were moderns at one point.


Quote:
Rarely do they put them in an auction with a minimal starting price so hard to see what they really bring.


99 cent eBay auctions are a great way for most sellers to just end up giving thngs away. There's a reason why so many people stopped doing it. There is such a glut of listings on eBay that it is very easy for things to slip through the cracks, then add in the promoted listing stuff, search manipulation they do for bigger sellers, the fact they don't show every listing to everyone ect, you're just asking to take a beating.
Valued Member
United States
74 Posts
 Posted 02/09/2019  10:29 am  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply
I am starting to see that about coins on eBay. But I have great luck selling vintage lures in eBay auctions with a 99 cent starting bid. Rarely do they go cheaply and many times I have had prices realized that were way more than I would have asked with a Buy it Now.

Not nearly the duplication with old lures that you see on eBay with coins. Today I checked for 1891 Canada cent and got a bunch to look at. Bought a nice one for $22. There were plenty more at much higher prices. I think mine is XF but you can never be sure with the pictures. Once I get it, I will post.
Bedrock of the Community
United States
18048 Posts
 Posted 02/09/2019  9:14 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Just remember that you have nothing to loose by asking massively high prices for anything. People do that with house sales all the time. Same when you go to buy a car. There is that famous so called MFSP or manufacturers suggested price and then there is realism. People do this for almost everything. Nothing to loose and everything to gane.
just carl
Valued Member
United States
74 Posts
 Posted 02/10/2019  8:13 pm  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply
But all the work many of the sellers do just to get no bids amazes me. I often look at auctions about to close of Canadian coins and the bid rate is abysmal. Hardly anybody runs true auctions with very low starting prices. When your starting price is at trends or way above it, you ain't gettin any bids.

When I list something in an "Auction" I want it sold. What most of them have now is really a Buy it Now price as an opening bid. Hoping to catch a few suckers. I have at least a 99% sold rate on my auctions. My guess is most of these are more like 1%. So much work, so little return.
Valued Member
United States
74 Posts
 Posted 02/10/2019  8:16 pm  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply
Dang, I just missed out on a nice 1859 Canada large cent. $2 more and it could have been mine. It was a real auction with many bids.
Valued Member
Canada
304 Posts
 Posted 02/11/2019  09:59 am  Show Profile   Bookmark this reply Add Cdncoins to your friends list Get a Link to this Reply

Quote:
Just remember that you have nothing to loose by asking massively high prices for anything. People do that with house sales all the time. Same when you go to buy a car. There is that famous so called MFSP or manufacturers suggested price and then there is realism. People do this for almost everything. Nothing to loose and everything to gane.

I disagree. If you list something on eBay well above market and it sits there for three years without anyone buying it, that is a huge opportunity cost. Instead you can list it for less, make less profit, but then use that money to buy and sell other items. Most of the time you will be better off. Again, it depends on supply. If I have a Morgan dollar in MS 69, then maybe I'll list for a massive price and see if I get any bites, but if I have something that is listed by others for less, then I don't see the point.
Forum Dad
Learn More...
United States
19918 Posts
 Posted 02/11/2019  10:32 am  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
I'll say it again,

Most of them have best offer enabled and are just looking for offers. eBay forces the seller to also put in an amount so they put one no one will pay and collect offers.

In most cases.... It's only the eBay version of

"Is that for sale?"

"Maybe, Make me an offer."

It's a very legit sales technique used by tons of perfectly legit sellers.
Valued Member
United States
74 Posts
 Posted 02/11/2019  12:03 pm  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply
I found a seller on eBay last night that is starting everything at $1. He has a ton of really nice stuff - many slabbed. Guess what, he has a bunch of bids on nearly every item and prices are what I consider good, with lots of time remaining.

REAL auctions attract bidders, not high minimums. All his auctions will find bidders.

I jumped in and bid on several beauties. My $310 bid on a slabbed 1925 Canada 5 cents in AU got outbid quickly. I even sent him a nice note commending him on running real auctions - they work!
Bedrock of the Community
United States
11969 Posts
 Posted 02/11/2019  12:12 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
REAL auctions attract bidders, not high minimums. All his auctions will find bidders.


Every auction will find bidders during the period that it is severely underpriced, that doesn't mean they will be happy with the ending. There's a big difference between how large sellers with large followings can sell things and how small or first time sellers can
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