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 Replies: 50 / Views: 5,676 |
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Pillar of the Community
United States
527 Posts |
Having done most of my purchasing and selling on ebay, I am begining to wonder if it is even worth the effort. When buying coins I always worry that it is fake, polished, cleaned, stolen, or not even the coin I bid on. When selling a coin, I have had problems getting paid which usually sticks me with the fees, and coins sell for less than what they are worth. I have been told that anybody who is serious about buying a rare or valuable coin, won't even look on ebay, because of the risk involved. I am begining to see that all ebay is, is a bunch of novice collectors (like me, but maybe I will progress), thinking that they are getting a great deal, when in reality they could just go to the local coin shop and get a better coin for less money and less hassle. SuperDave was saying he sold a 1921 S morgan VAM 1L, one of only six currently known, for under $20 on ebay. I can't help but think that the same coin would have sold for a lot more on a more respectable site. I know a lot of people on this site would have paid more for it. I know I would have. What's your oppinion, is ebay the wrong place to sell a good coin? |
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Pillar of the Community
United States
882 Posts |
For buying low cost coins in bulk, I have no problem with buying on ebay. I just add up the price of the auction and shipping and make sure it doesn't go over melt. But if I were to buy, lets say, a 1916 Mercury dime, I would be sure to buy a slabbed one. Or raw, if it's Good or better. I don't worry about counterfeits unless the guy is from China. If a seller has 100% feedback and lots of transactions, I don't think he would be stupid enought to mess that all up for just one counterfeit. And I don't worry about cleaned coins because... well... I can't tell. Unless its a coper coin. :P Good things, Ty |
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Bedrock of the Community
United States
14454 Posts |
I have no coin shops near me that I care to do business with so pretty close to 98% of my collection has come from ebay and 100% have come from online auctions or stores. I love ebay but I know what I am looking for and know what the coin is worth before I ever bid. I also make sure that the seller has a good return policy just in case because its always hard to see everything in every picture, that goes for online stores as well. Even though I have gotten some good deals on ebay I usually bid what the coin is worth to me and the only reason I got a good deal is because no one else wanted the coin as bad as I did, or they were bargain hunting and didn't bid what the coin was worth. I have sold a few coins on ebay also and usually come out pretty good, sometimes I take a small hit on one coin but make it up on another. So I check ebay every day for specific coins that I need for my collection and I usually win3 or 4 auctions a month (sometimes more, sometimes less). |
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Member
United States
703 Posts |
ebay is the place to buy coins, You just have to know what you are buying and whom you are buying it from. 100% of my collection has come from ebay except what I have got from the mint, or bu rolls from the bank at face, or a dealer directly met thru ebay. The last few words are key...you can meet dealers thru ebay and them deal with them outside of ebay, it happens all the time. error
Edited by Errorcoins
03/13/2007 02:02 am
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Pillar of the Community
United States
830 Posts |
I suppose it depends on whether you have viable alternatives. I used to buy coins on ebay, but no more (well, unless I know the seller personally). I have one good coin dealer in town. I buy from him and from folks (collectors usually) I've met at places like this forum, I buy from collectors in the local coin club, but by far, where the best coins are, and where I really LOVE to buy is at the bi-annual local coin show (about 100 tables each time!) and that's where I recommend you try whenever you get the chance. You get to see the coins, see and talk with lots of nice dealers/sellers (and a few old grouches, too!) and generally have a great time, even if you're just looking at all the goodies. I highly recommend coin shows, especially shows with a wide variety of dealers and numismatic items available for purchase. I avoid ebay because of the relatively lousy quality of coins available there. You can find some very nice quality coins there, but wading through all the garbage can be quite a chore. I guess I'm just getting a bit lazy in my old age  |
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Rest in Peace
United States
2684 Posts |
Like others, I have no nearby coin shops and the nearest shows are many hours away, so I shop ebay. I am very selective about what I will buy off ebay. I studiously examine each coin upon which I might bid and equally important the auction in which it is offered (feedback, location, depth [or lack thereof] description, return policy, grammar and spelling, location, shipping, etc.). I would guess that I will pass over a couple hundred coins before bidding on one. If something looks fishy, I won't bid on it... OR I ensure the seller has a solid return policy. I've obtained some very good deals off ebay due to careful shopping, knowledge of the coins upon which I bid, and years of ebay experience. Like everyone else, I've been burned a time or two but the plusses have far more offset the losses over the years. I've purchased and sold coins (mostly Morgans) up to about $2500. Above this, if I wanted a coin badly enough, I would go to one of the auction houses (e.g., Heritage, Bowers & Merena) which offers online bidding. Despite all the complaints, reservations, and other shortcomings I and others have about ebay, it's still one of the best venues for buying coins or for whatever else one might be looking. I don't see myself giving up ebay anytime soon. Fred |
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Valued Member
United States
235 Posts |
I like ebay because I can usually find the specific coin I need for my collection very easily (for example, an 1860 dime to complete yeaar set); and if I am outbid on one coin (for example, a 1787 shilling), I know that another will be offered very soon. Just don't get caught up in a bidding war and overpay for the coin. And don't bid too early because there are nerds who will bid you up one dollar at a time just to be nerdy. I buy coins worth more than $200 from reputable dealers, but ebay is great for lower grade coins under $200. |
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Member
United States
703 Posts |
Quote: "I suppose it depends on whether you have viable alternatives. I used to buy coins on ebay, but no more (well, unless I know the seller personally). I have one good coin dealer in town." Well, since I buy major mint errors, ebay is the only place, no way a local dealer will have all the types (if any) of errors that I'm looking for. There are a few national major error coin dealers that I buy from, but, All of my first contacts were made thru their ebay auctions. error |
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Pillar of the Community
United States
2335 Posts |
I don't have a coin dealer in town and shows are few and far between. I have bought coins from ebay, but my collection was/is mainly slabbed Dollars & Mint products still in the original packaging. I have decided that I am going to try to assemble a type set of US coins in the best condition I can afford. I am leery of getting burned on what for me will be high dollar coins, I doubt if I will be buying many on ebay. |
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Pillar of the Community
United States
4867 Posts |
ebay is pretty much my only source and lifeline for obtaining coins.
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Pillar of the Community
United States
7123 Posts |
I buy alot of coins on ebay ,, I have over time come to know a few of the sellers and I buy many coins from the same sellers all they have to do is take care of me and I will support their sales when I can,, Now that does not mean that I do not get a whim now and then and buy from some others who I have not dealt with before because I do. ebay is as good a resource as any coin shop maybe in some respects better,, The whole thing relies on the buyers knowledge about the coins they are buying,, and the ebay system. bad images,hyped descriptions,no return coin sales, are all warning signs!! weed out the bad and use the good,, the same way you would a brick and mortar coin shop for other variations of the same type of things. Metalman |
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Pillar of the Community
Belgium
2078 Posts |
I am starting to think the time for me and ebay is close to be over On ebay France it looks like a festival of goldplated coins with some 50 pesos underweight fakes thrown in and some US goldplated quaters advertised as dollars Oh if you can read and do read the text you will find it is plated or fake or a novelty but it is amazing how many people do not read beyond the title and price On ebay Germany the last two buys were two problems I am in the middle of settling the first amically ( coin was shipped damaged and no return policy like 95% of the coins on ebay Germany have explicitly excluded any return or guarantee ) Also I am pretty shure the foto was loaned from Pandaamerica ( So much for fotograding  ) But the vendor wants to avoid a negative feedback and seems willing to return 18% of the purchase price The second coin is more devious it was announced with COA and a small box and it turned out the small box did not belong to the coin but to a 1 1/2 euro silver coin . The coin is perfect but since there is no box it is worth less . Anyway I am starting to get fed up with the petty "lies" in the descriptions and the psychoattitude were they give me a positive first and put some candy or gummy bears with the non conforming coin and some nice talk to make me feel guilty should I even think of a negative |
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Forum Mom
 United States
5877 Posts |
ebay is a great place to buy coins if you educate yourself. Even though it is still possible to run into difficulties, there is usually recourse of some kind. Personally, I only buy coins that will accept Paypal payments since the Paypal Buyer Protection is very good. As far as selling on ebay: We have had a couple of non-paying buyers, but they are few and far-between. In the case of an NPB, your final fees are credited and you can get the listing fees back by relisting from the same auction. We have done very well on ebay, though with the constant seller fee increases, we are discussing other options. The most important thing about selling on ebay is knowing how to make your coin show up in the most relevant searches. Include the word coin in every title. Include the date, silver or gold (if applicable) the series, etc. Don't waste room with L@@K or NICE. These are not terms that buyers search on ebay. You get 55 characters for a title - use them all wisely. If you do this and provide large, clear pictures with a good return policy, you should do very well.
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Valued Member
United States
459 Posts |
In my opinion the Bay is a two headed coin. The Bay is loaded with bottom of the barrel garbage that is over priced/over-bid on. A collector is better off driving an hour to a coin shop and save approx. 10%-15% and be assured you are getting a problem free coin(or whatever the buyer is seeking). There are too many ignorant buyers or "investors" with more money than brains trying to turn a quick profit. However, on the other side, this potentially brings more interest in the hobby. This inflates the demand, hence higher prices for common coinage. I all but gave up and sold my Morgan date/mm set that was 90% complete. I have since been turned on to 19th & 20th world gold and federal dimes and 1/2 dimes...One just needs to find a niche...I just can't understand what (aside from TPG hype/registry) is keeping this modern stuff in such high demand... To each his/her own. |
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Valued Member
United States
50 Posts |
((( Are coins on ebay even worth the effort? ))) I have to answer this question with a question: How much is your effort worth if you were paid by the hour? It's certainly true that there are bargains all over ebay. The problem is, one has to wade through a lot of garbage to find the occasional bargain. I may be able to get a coin on ebay for say $40 UNDER wholesale, and make a quick $40 profit - or so it would seem. The only problem is, it might require 5 hours of browsing, 1 hour of emailing back and forth, getting payment out, etc., 1 hour of waiting for and checking the mailbox, and on and on. After all is said and done, if it takes me 5 hours to make a $40 profit, I'd probably rather spend my 5 hours doing something that's more fun than messing around with ebay. Selling is a different story. I sell coins fairly regularly on ebay, and in that case, it's a time SAVER. The time I'm saving is cataloging certain coins and carrying them back and forth to shows for months before they finally sell. In such a case, I'd rather take a small loss on a coin dumped on ebay than spend hours trying to extract every last possible penny of financial return on it. |
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Pillar of the Community
United States
675 Posts |
I will be the first to say that E-bay has it's faults. As a buyer though, the prices are better than what I can get at local dealers. Since I am buying mostly BU coins and semi-key/key dates I am sticking with generally certified coins by PCGS/NGC. For lower priced items, or coins that aren't keys I would be glad to buy them uncertified. If you stick with dealers with a great feedback, rock-solid return policy, and go with slabbed coins for high-end or key date material you should be able to do alright on "the Bay".
I have no experience selling, thus no input.
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Replies: 50 / Views: 5,676 |
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Posted 03/13/2007 01:19 am
