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Coin Flipping: Bought On Ha/Gc Selling On Ebay

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 Posted 10/20/2020  5:35 pm Show Profile   Bookmark this topic Add Dieuwer to your friends list Get a Link to this Message
Noticed the recent offer of a 2C PCGS MS63 RB on eBay for $245.
After tracking down the cert number, I found it was auctioned off on Heritage a couple of months ago for $195. Seems like a case of "coin flipping".
Is this par for the course? Do most of the higher grade coins on eBay come from more reputable auction sites like HA and GC?
If so, what's the point of eBay? Might as well go straight to HA/GC etc. and only buy there.
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 Posted 10/20/2020  5:47 pm  Show Profile   Bookmark this reply Add smokeriderdon to your friends list Get a Link to this Reply
Every coin sold anywhere is being flipped. It was purchased somewhere else and the purchaser is now selling it. Therefor, most everything on Heritage is being "flipped" from somewhere else. Same for Ebay or your local coin store.
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 Posted 10/20/2020  5:57 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
I have one of those from the 1st Newman sale - sold for $140, BIN on ebay two weeks later for $118.
-----Burton
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 Posted 10/20/2020  6:06 pm  Show Profile   Bookmark this reply Add captaincoffee to your friends list Get a Link to this Reply
I agree there is a lot of flipping, but if it sold on Heritage for $195, the 20% buyer's premium would make it a total of $234. Selling it on eBay for for $245, minus the 10% fee, nets them $220.50. Overall, they lose $13.50. Could be they decided on another coin they liked better, or they just needed to sell for some other reason.
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 Posted 10/20/2020  6:16 pm  Show Profile   Bookmark this reply Add Dieuwer to your friends list Get a Link to this Reply
No, the $195 includes the Buyer's Premium.
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 Posted 10/20/2020  7:05 pm  Show Profile   Bookmark this reply Add scopru to your friends list Get a Link to this Reply
Regardless if it includes the buyers fee or not what is the problem with flipping coins. Shop where you find the best deals.
As smokediron said

Quote:
Every coin sold anywhere is being flipped.


Member: ANA and NGC
My Want list: http://goccf.com/t/188411
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 Posted 10/20/2020  7:10 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
Out of curiosity, what year is this coin of discussion?
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 Posted 10/20/2020  7:51 pm  Show Profile   Bookmark this reply Add Dieuwer to your friends list Get a Link to this Reply
1864
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 Posted 10/20/2020  7:58 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
Looks like it's an 1864. You can sometimes get a good deal at a true auction, and there's nothing wrong with waiting for the right buyer as a BIN listing on eBay. Works better if you buy with bad photos and sell with good ones, so I'm not sure flipping coins from Heritage is done very often. Perhaps he wasn't happy with the coin when it arrived, and just wants to unload it to break even.
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 Posted 10/20/2020  8:00 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Most dealers buy their inventory out of coin auctions .
Then they resell them .
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 Posted 10/20/2020  8:33 pm  Show Profile   Bookmark this reply Add Dieuwer to your friends list Get a Link to this Reply
What's a "BIN listing"?
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 Posted 10/20/2020  8:53 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
"Buy it Now"
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 Posted 10/20/2020  9:28 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Then we have to deal with those flipper guys that buy slabbed problem coins at major auctions than crack them out and try to pass them off as "problem-free" coins on eBay.

That is what irritates me!
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 Posted 10/20/2020  10:40 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Did it sell on ebay for $245 or is it being offered for $245? There is a difference.

But yes you could just skip ebay and buy directly from the Heritage Auctions there is nothing stopping you. The thing is good deals are where you find them. All you have to do is out bid the dealers and other collectors. This guy bought the coin on Heritage for $195 but he thinks it is worth more and he put it on ebay. Maybe he is right and maybe he isn't. As Bstrauss shows sometimes what you buy on Heritage ends up later selling for less money. You often see that on big name collections. When they are initially sold there is a lot of hype and prices go high, then later prices return to regular market levels. And as Pacificoin says most of the better coins you see in dealers stock came from auctions like Heritage and they have to sell it for more than they paid to stay in business. A collector doesn't have to. He can sit on it and hope/wait for the market to go up, a dealer can't.
Gary Schmidt
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 Posted 10/21/2020  08:42 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Normal practice with many hobby type items.
just carl
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 Posted 10/21/2020  09:05 am  Show Profile   Bookmark this reply Add Dieuwer to your friends list Get a Link to this Reply
Will this practice eventually put dealers out of business?
If more and more collectors find out it is better/cheaper to buy directly from large auction websites like Heritage and Great Collections, nobody will buy from dealers any longer.
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