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 Replies: 16 / Views: 3,306 |
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Valued Member
United States
355 Posts |
So, it's pretty silly, but a couple years back I was collecting 95% copper cents while coin roll hunting. I have about $50+ in face value. My OCD got the better of my and of course I have these sorted, rolled, and labeled by year/MM. I also discarded about 10% of the nasty, gunky, verdigris covered ones. I've studied lots of other people's similar auctions and I see on ebay copper cents are selling for about 1.5x to 1.7x face value and copper is expected to go down in 2015 and I'd like to cash out now. I'd like to think that in terms of people selling 95% copper cents on ebay, mine would be in the top tier in terms of quality, but I realistically understand that it won't add *too* much in terms of selling price. Error/variety searchers might be interested too since they're sorted which I've never seen these sellers do on ebay. While I've bought many things on ebay, I've only sold once, and that was like 8 years ago. My rating is 82 and 100% positive (all time, not just within the past 12 months). With pictures and listing it as an action + shipping (nood to research how much). I would ship with USPS flat rate shipping and tracking #. With providing lots of detail and an honest description to try and make it clear I'm not shady I hope people will get past me only selling 1 item and not be scared away. I would make sure there is no loose 'jingling' sound coming from the box. I'd accept Paypal only and sell to only US customers. I'm hoping to cash in a bit to make a little month to use to add some real coins to my collection. I have some questions though. 1.) I'm concerned about a reserve. I don't for some reason want to lose money on this. I was thinking about setting a reserve at the face value to be safe. Would that by chance lessen the odds of a successful auction? 2.) How long should an auction like this be listed for in terms of days for max return? 3.) Is there any preferred day/time to create a listing for better return? I would want as many eyes as possible on it while it's closing. 4.) Do people still do things like wait for the PP payment to come in and wait before it gets deposited into your bank account before shipping? Or can people trust that when the PP payment hits your PP account you can safely ship from there? I just don't want to get scammed, nor do I want to delay shipping for the buyer if I don't need to. 4.) Any other concerns or things I'm overlooking? I'm just hoping for any opinions or suggestions before I go and do this and as you can tell, it's not something I do a lot. Sorry for the long-winded post. Thanks. |
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Bedrock of the Community
13014 Posts |
1. Dont worry about the reserve, it costs 2 dollars to list a reserve on ebay and it only worth it for higher priced items. Just start the auction a little above face value and let people bid it up or list it as a buy it now price using the multiplier they sell by. 2. The 14 days policy if the standard one on ebay for the selling discount but as a new seller that doesn't apply to you. Id probably just skip the standard and use one of say 5 days after they get the shipment. Honestly though without the discount I might just say no returns on that so someone doesn't pick through them and send you back junk. Whatever it is I would seal them in a way where they can see the coins but as soon as they open it up and start to go through them the sale is finale to prevent that. 3. Sunday nights used to be a good time when everyone was home. Not sure what the best day is now. 4. As a new seller paypal will probably hold it for 30 days or until you get positive feedback. Thats obviously not really a time frame most buyers would be willing to wait. Give it a day maybe two if you think something is fishy otherwise you just kind of expect the buyer to be honest. If the item does get over 200 though you have to add signature confirmation if you want seller protection. Id strongly consider a BIN listing. Auctions are very hit or miss especially from new sellers and being a niche market, but other than that just think about what you like from sellers and use your buying experience to help guide your choices. Edited by basebal21
03/24/2014 6:15 pm
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Valued Member
 United States
355 Posts |
basebal21, thanks for the reply. Gave me some things to think about. In regards to paypal holding the payment, do you think that would still happen if I have a very established PP account? I use it for lots of stuff, linked to bank acct/CC's, etc.
Also, the no returns, tamper proof packing sounds like a good idea. I'd probably accept returns if unopened and buyer pays for the return shipping though.
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Pillar of the Community
United States
1130 Posts |
Baseball pretty much nailed it, but I figured I may as well answer them too just in case there is something that he didn't have that I overlooked. 1. I wouldn't put a reserve start it at a price you would be fine with getting for it. I would also strongly suggest a buy it now with best offer. I would list it high enough so you can accept offers. 2. Personally I don't accept returns and I wouldn't either if I were you on this for the reason baseball suggested. 3. I don't have many things that get multiple bids, but Sunday night would be good. 4. When I started on a new account, it held my money for a little bit, I don't remember how long, but it wasn't that big of a deal for me. 5. When you set a price, keep fees in mind. It will be 10% for ebay, 2.9% + .30 for paypal. I would definitely ship flat rate like you are talking about. Hopefully this helped. |
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Bedrock of the Community
13014 Posts |
Quote:
In regards to paypal holding the payment, do you think that would still happen if I have a very established PP account? Im not sure to be honest. I know that when I started selling they held the payment, you probably have more of a history with them then I did though. If I had to guess I would assume its standard practice for them to place the holds until you "prove" yourself to them so you dont just list a bunch of things take the money and disappear. One thing I would do though is either unlink your bank account or create a new account at your bank to be linked to the paypal. In that new account keep a minimal amount of money in it and just move funds in as you need it for a purchase. The reason I say that is if someone happens to get into your paypal they can get to the bank funds without the protection a credit card provides. Id use the paypal text security feature as well if you arent using it already |
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Pillar of the Community
Canada
2124 Posts |
I think also that they will hold the payment 21 days. It depends on ebay not on Paypal. I would use rather BIN with make an offer option. |
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Pillar of the Community
United States
1130 Posts |
Quote:
One thing I would do though is either unlink your bank account or create a new account at your bank to be linked to the paypal.  Definitely. |
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Valued Member
United States
355 Posts |
Hmm, you guys have given me a lot to think about. Thanks for offering me the security advice. I'm a bit torn because while that is truly a good idea, I'm not really looking to get into selling; this is more of a one time thing. So setting up a new bank account and PP for this might be more hassle then it's worth. I like the idea of adding another layer of authentication as basebal mentioned. That might be a good middle-ground in terms of usability and security. This is more of a one time thing. My ebay and PP accounts are probably each over 10 years old so I'm hoping the money doesn't get held up, but if it does, oh well. I should also look into unlinking my bank account from PP regardless of if I'm selling or not. That is a really good idea. I do like the BIN + offer option too. I guess I would have more control over the price then. It's not like the auctions for these go to ridiculous amounts or anything. There is a certain price range I'm looking for and BIN+offer would better control that. After more though I guess I would not accept returns too. Why would anyone need to return this. It's not like it's a coin with a blemish or something. It's just a bunch of normal circulated coinage with 2-3 detailed pics of it. You've all been very helpful. I am glad I came here and asked. Thanks again! |
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Pillar of the Community
Canada
2124 Posts |
Let's say you would be happy with at least $100. So your BIN should be like +30% ($130) so the buyers can make offers. If you choose a BIN too close to your wanted price, you'll receive low offers.
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Pillar of the Community
United States
7375 Posts |
Last summer I started a new, free checking account for selling on ebay. It was free and easy and got a small crock pot from my bank as a gift. Never know when the 'selling-bug' will hit, and it's nice to have the second account. |
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Pillar of the Community
United States
9796 Posts |
I'd also check the fee costs, when listing or reserving at face value, as I just sold a star $100.00 bill, after fees I ended up getting $97.50, should've just spent the dang thing. DOH!
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Pillar of the Community
United States
1130 Posts |
Definitely watch fees. For you, it should be .129%+$0.30 for fees with ebay and paypal. |
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Valued Member
United States
355 Posts |
Just following up. My auction for about $58.50 FV in copper cents ended up selling for $74 + shipping. That's plenty enough for me to be able to cash them in and spend the money on some 'real' coins. HOWEVER, as ebay goes, the auction winner is a non-paying bidder even though he's paid for other ebay items purchased on the same day. I have a case open. What a great way to start :| I really do hate most ebay sellers and buyers (not you guys though!). Edited by trent
04/09/2014 2:50 pm
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Pillar of the Community
United States
7375 Posts |
Sometimes it can be frustrating. Hopefully you got your bad apple out of the way early. I don't know how the "second chance" works, but maybe you could offer it the second bidder....but hopefully they will pay since you opened the case.
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Valued Member
United States
355 Posts |
I'm hopeing once the case is settled to hopefully relist it. I'm willing to take another shot at auctioning to perhaps get a higher price. If it sells at face value, oh well. It's normal copper cents, so I don't care.
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Pillar of the Community
United States
1130 Posts |
Yeah, it happens sometimes. I hate it, but that's part of it. Good luck again!
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Replies: 16 / Views: 3,306 |
Posted 03/24/2014 4:17 pm
