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When $10 Is Not Worth $10: Buying Coins Below Face?

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Harmonica's Avatar
Canada
1118 Posts
 Posted 07/07/2015  2:24 pm Show Profile   Bookmark this topic Add Harmonica to your friends list Get a Link to this Message Number of Subscribers
These coins do not ship to Canada sadly....

http://www.ebay.ca/itm/10-Coin-Ike-...em2a53acad70

10 Ike dollars at USD6.60, what gives?

Has anyone here ever bought a coin at a yard sale/eBay for less then face? EG. paying a quarter for a half dollar?

Post Script: People going around buying coins for below face seems like a show we will be seeing next Autumn on the History Channel.

Edited by Harmonica
07/07/2015 2:31 pm
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jdiablo30's Avatar
United States
946 Posts
 Posted 07/07/2015  2:31 pm  Show Profile   Bookmark this reply Add jdiablo30 to your friends list Get a Link to this Reply
Its a auction with bids..not a buy it now.
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Harmonica's Avatar
Canada
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 Posted 07/07/2015  2:32 pm  Show Profile   Bookmark this reply Add Harmonica to your friends list Get a Link to this Reply
Yes I know that but it is possible the highest bidder might walk away with a net gain if no one else bids. WHy would anyone start an auction below face.
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jbuck's Avatar
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 Posted 07/07/2015  2:42 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Three days left on that auction.

Someone will buy it at face or more.
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Harmonica's Avatar
Canada
1118 Posts
 Posted 07/07/2015  2:49 pm  Show Profile   Bookmark this reply Add Harmonica to your friends list Get a Link to this Reply
Oh yes I am sure of that I still find it weird though that someone would list it below face.

Side note, jbuck. I was down in Houlton, Maine the other day exchanging some rolled up U.S.A. cents and nickels at a bank for roils of half dollars to CRH. I had enough changes to get 2 rolls of half dollars and a $1 bill. I said I'll take my 2 rolls and a dollar coin (forgetting how rarely people use them in America). I quickly said, oh wait, you guys don't use dollar coins do you. The tiller said yes, sometimes, and pulled out an Ike dollar.

Not thinking (and not being overly familiar with American coins) I said, oh right, the jbuck, er, I mean Eisenhower dollar.

True story.
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jbuck's Avatar
United States
188213 Posts
 Posted 07/07/2015  2:58 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Oh yes I am sure of that I still find it weird though that someone would list it below face.
It was started at $0.99. That is the best way to list. No different than starting a $100 coin there.


Quote:
Not thinking (and not being overly familiar with American coins) I said, oh right, the jbuck, er, I mean Eisenhower dollar.
Nice! I am in your head messing with your neurons.
Rest in Peace
moxking's Avatar
United States
17900 Posts
 Posted 07/07/2015  3:07 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Starting the bid at .99 cents always gets a lot more people interested and thinking that they MIGHT buy something below real value - or in this case face value.
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jbuck's Avatar
United States
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Tbone's Avatar
United States
1839 Posts
 Posted 07/07/2015  10:37 pm  Show Profile   Bookmark this reply Add Tbone to your friends list Get a Link to this Reply
Looks like this seller does this auction on a regular basis. Here have been the results

http://www.ebay.ca/sch/Coins-US-/25...045573.m1684

As you can see they always end up selling above face value (except for one time that I can see). Then they charge $4.99 to ship them and I'm fairly certain their cost to ship is less than that. Is it a risk? Sure. But a very, very low risk at that.
Edited by Tbone
07/07/2015 10:42 pm
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jbuck's Avatar
United States
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Bedrock of the Community
United States
20753 Posts
 Posted 07/08/2015  2:08 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
It will end up with some idiot paying lots and lots for those. However, strange things do happen. A friend of mine bid $5 on a Gold $5 USA coin and won. And there was no postage, handling, etc charges either.
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