Hard To Compete On Ebay

nds76,

Sometimes you will get someone who really doesn't care what the book says its worth. They have decided that this is the coin they want and are willing to pay extra to get it. This is what makes coins go up in value. I have been known to pay as much as 75% over book to get a coin I want.

Books have a hard time reflecting the true value of a coin. The book is usually printed a year before it hits the market and before that they have to spend time gathering the information. This is why there called "Guides".

catman

HI David,
I also think that with less expensive coins, "book" isn't as set, particularly with ebay sales, as higher. If a coin shop is a half hour drive away, that's 7 bucks in "commute" cost, at least. Worth the convenience of ebay for a coin even with s&H for many...
And as Catman says, folks just get carried away in auctions sometimes- a bnidder wants the coin- if they dib an extra 50c or dollar, they may get the coin- even if they are "overpaying". I think for most ebay items, a good way to bid is detremine what similar items have sold for- completed auctions, heritage sales, etc. With the latter, you have the bonus of the sellers "trustworthiness" not entering into the mix...

Don

Thanks for all the advice. I use the Coin Prices magazine. All in all I suppose ebay is all about convenience. It just gets to me that a particular price is posted and yet it sells for 10x as much on ebay. There is a coin dealer here in town but I don't go there. The owner seems to have an attitude and don't even deal in moderns. And there aren't any other shops in area that I know of.

David

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Originally posted by nds76

I'm trying to fill some holes in my Jefferson collection with some higher grades. I bid on this 1946-S and book value is only $1.00 and I think the ending price will be much more + the S&H costs. One could easily spend $10 or more on a coin only worth $1.00.

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You need a dealer friend. Many of these dollar coins are laying around some dealers shop waiting for a collector to snatch them up. Since ebay is about convenience, too often people are willing to pay for that. If you have a dealer friend who is traveling to shows or other shops, offer the price plus a dollar for their time. Often you will find that you will pay around $1.50 for that dollar coin. If you buy pretty frequently, you will probably get your shipping for less than a dollar also.
There is something to be said for making friends.....

Nds76, if you send me a list of what you are missiing I'm pretty sure the dealer I use has B.U. rolls of most moderns. He is very fair. Get me the list, and I'll get you the prices and we'll go from there. I will arrange for cheapie mailing. Mike

I'll have to agree with your thoughts on the local dealer nds, I went in to sell some VF Franklins and Walking Liberty halves and he gave me a price that was less than melt price for them. He also says he won't deal in coins dated after 1960, yet he had some modern proof sets and new nickels sitting in his case.

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Originally posted by toast

Hi, It's human nature everyone wants to buy at the very lowest price and sell at the very highest. How can the coin dealer can surive and pays for overheads? I guess he offers people less than what the coin is worth and tries to sell it for more than what it's worth. And make a living in between, a very hard job. ebay is a place they can sell but it's also the place with all that competition.
I don't understand why he would not deal with coins dated after 1960, Moderns? They are over 40 years old!

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Not all dealers wish to buy at the lowest possible price. On common date material that the dealer already has tons lying around, it isn't worth the trouble of paying top dollar. Offering less than melt is just plain wrong, but top dollar isn't warranted on common material. Why most dealers do not buy material after 1960 is easy. Nobody is buying it. While a few pieces here and there will get sold, they are not "HOT" material.
Personally, I will not buy anything later than 1938 for the company to sell. (Exceptions are made for the forum members). In an earlier post about War Nickels, I looked through our inventory photos and found 3 that we had sold a few years back.
Dealers have to maintain what their customers want, not what someone "might" want at some point. Modern coins (1934 and later) are not the meat and bones of the sales. There is a tiny margin in these coins, and really not worth the shelf space to most dealers.