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 Replies: 15 / Views: 2,091 |
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Pillar of the Community
United States
8516 Posts |
I know lots of people complain about ebay but I just love it. I enjoy flipping coins and I can then buy coins I like for free. I'm still pretty new to it all but just recently I've been playing with Indians and Flying Eagles. I bought a fairly nice 1858 FE for 45 and flipped it for 90...a decent 1908-S Indian for 40 and sold it for 75. I was getting full of myself and offered 30 for an 1857 FE and put it back up for 60 bucks or best offer....crickets.  Not one offer. Fully believing how people love to bid, I started it at .99 cents. It just sold at just under 59 bucks. Heck they could have offered 40 after six days of bin or offer and I probably would have taken it. People do love to bid.  ...The power of ebay and all from the comfort of my home office or better yet...easy chair !  Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Pillar of the Community
United States
8137 Posts |
Sounds like easy money to me. Congrats! I have just started using ebay to get around some of the high prices coin dealers sometimes have. Hope I have the same luck as you  |
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Moderator
 United States
16677 Posts |
I flip coins on ebay all the time. Love it! swcoin.ecrater.com
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Pillar of the Community
Canada
2805 Posts |
I would flip coins, but I love them too much to part with. I got a rare-r East German coin worth at least $5 for 20 cents, but I'd never sell it!! Instead, I flip coins I don't like. Hence the Connecticut copper I sold recently (if a chewed-up copper can go for $20, I'm not hanging onto it... and I finally got things worked out with the second bidder :D). I'm also thinking of eBaying my nearly dateless lamination-flaw Shield nickel... I'm sure there's someone with the right know-how to identify the date, and it's definitely a major error. |
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Pillar of the Community
United States
7840 Posts |
I hear ya, and the crickets at times as well. I listed 15 coins this past week, all with "...or Best Offer" prices, three sold for my asking price, the rest...............one ridiculous low bid.
Load 'em up again!
Edited by oih82w8
10/06/2013 8:42 pm
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Pillar of the Community
United States
919 Posts |
Don't forget to include the income taxes on the gains (after expenses) when figuring your winnings. That can eat into profits. I would bet the day is coming where ebay will be required to submit info to the IRS. |
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Pillar of the Community
Australia
539 Posts |
I buy bulk lots locally and the coins I don't want go on ebay to fund the purchase of 2x2's, mylar sleeves and coin holders with the occasional coin purchase online. I am yet to actually make a cent from ebay as I have not pulled a dime out. I see it as a way to "trade" coins on an international basis like you did as a kid |
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Pillar of the Community
Canada
4227 Posts |
I'm a lot like nalaberong. I've even bought coins at wonderful prices thinking, "That's a little over my budget, but I'll just flip it for a profit," and it's still in my collection |
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Pillar of the Community
 United States
8516 Posts |
Well I do check to see if they're an upgrade first but none were. I need to start parting with my extra Indians and finally buy that 1877 that I need to finish my main IHC album. Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Pillar of the Community
United States
2815 Posts |
Yeah, there are so many BIN auctions on ebay now that a good 'ol fashioned NR auction is a welcome sight for me. Yep, I love to bid. |
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Pillar of the Community
United States
1372 Posts |
My approach to buying on ebay is exactly opposite. I never (and I mean never) participate in auction style listings. I cruise the fixed price listings, and if I see something I want and don't have enough to cover it in my Paypal account ... I'll add it to my watch list. If the coin receives a bid ... I immediately delete it from my list. People get "beyond stupid" when bidding. I know what I'll pay for something, and I figure in a third of a million listings, I can always find something. My collecting, to the casual observer, has no direction. I am working on a nice type set ... and need about 5 coins to complete it, aside from the gold issues. Over the winter, I'll probably sell off some of the stuff I've been piling up just because the price was right, and use the money to add a few more coins to the type set. Chance |
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Pillar of the Community
United States
2936 Posts |
@TPG... ebay does send sellers (and the IRS) a 1099 at the beginning of a new calendar year if the seller a) sold more than $19K and/or b) listed 100 items (I think this is the number) or more. That's when a IRS Schedule C comes into play. PG |
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Pillar of the Community
United States
1304 Posts |
I think auction vs BIN depends on the type of coin you are wanting to purchase/sell. For Morgan dollars, I like to browse the BIN's because for the most part Morgans stick pretty much with gray sheet pricing no matter where you go (online, brick and mortar). But for my slabbed Half Cent collection I'm putting together I have found that gray sheet is overpriced compared to actual auction realization. I have paid below gray sheet for all the ones I have won so far on ebay auctions. The two most recent 1811 Half Cents that actually sold on ebay via auction went well below their list price. One, an NGC XF40 sold for $3950, well short of the $5k+ one would have expected if going off a price guide. For Half Cents, I never go BIN, I wait for an auction, unless the BIN is at least 20% less than what's listed in the guide and I just have to have it. |
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Valued Member
United States
160 Posts |
Can you find gray sheet prices online or do you have to subscribe?
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Pillar of the Community
United States
1037 Posts |
I do more buying on ebay than selling. I think ebay and Paypal take too much of the pie for my liking. I prefer auction style listings because of the chance of getting a great deal are greater. The key is to be patient and set a price limit for yourself. If you are outbid, don't worry there will be another item to bid on. On occasion, I will run across a BIN item that is a great deal and buy it. |
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Pillar of the Community
 United States
4589 Posts |
Quote:
Can you find gray sheet prices online or do you have to subscribe? You need to subscribe ( http://greysheet.com), but make sure you buy the right week if you are interested in a less common series (they have several pages that rotate). -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Replies: 15 / Views: 2,091 |
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Posted 10/06/2013 2:56 pm
