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Advice On Selling Coins In Canada..ebay?

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Pillar of the Community
Canada
1984 Posts
 Posted 02/09/2018  7:14 pm  Show Profile   Bookmark this reply Add Smallcentguy to your friends list Get a Link to this Reply
Watch ebay listings for a while and see what things sell for. Be realistic about what you should get. If you have realistic expectations, you can move a lot of material quickly on ebay. I don't think buyers care much about whether a seller is new. Buyers can always return items. The only thing buyers really won't like is someone with poor ratings.

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TheBurnz's Avatar
Canada
586 Posts
 Posted 02/10/2018  11:23 am  Show Profile   Bookmark this reply Add TheBurnz to your friends list Get a Link to this Reply
I had a $200 Candian silver coin for sale at $190 CAD. Didn't get one bid. On multiple occasions. Also post a Malaysian Strait coin for $60 cad when its list price was $120cad. Only thing I sold was 14 X 50 cent Canadian peaces from 1940"s-50's for .99cents for the lot and that person never even left a rating. How do you explain those results? I think the prices were reasonable. The only thing I can account for these results, was that I had 0 feedback score.
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Canada
5584 Posts
 Posted 02/10/2018  12:30 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
Theburnz .. Where did you get the "value" or what you have for "worth"? If you are using Charlton, or Trends, or Krause, you can expect about 60-70% of the "list", and then only if your grade matches what the buyer thinks it is. And if you sold $7 in Canadian silver for .99 cents total, you need to do some study or preparation before you try to sell something else. 14 fifty cent pieces is $7 face. Each Canadian face dollar of silver has .6 troy ounces of silver, so you had 4.2 oz of silver to sell as scrap. With silver at $16.30 US, that's almost $70 US, and multiply that by 1.25, that's $87.50 Cdn that you let go for 99 cents. If you know what you want out of something (look at ebay "sold" prices"), then put a minimum on it. And whatever you do, DO NOT believe that a coin's value or worth is what you see in a book or paper or website .. listed prices ar always overly inflated except for SOME normal items above MS-64, or scarce varities over 60.
Edited by okiecoiner
02/10/2018 12:32 pm
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doubleeagle59's Avatar
Canada
2495 Posts
 Posted 02/10/2018  4:12 pm  Show Profile   Bookmark this reply Add doubleeagle59 to your friends list Get a Link to this Reply
TheBurnz.....

Start by understanding the Canadian coin market is in a depression.

Take it from there.
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kuh_85's Avatar
Canada
2366 Posts
 Posted 02/10/2018  4:58 pm  Show Profile   Bookmark this reply Add kuh_85 to your friends list Get a Link to this Reply
@theburnz.
1. Consider your shipping costs and where you actually set up shipping methods. IE if you're in the US and used Global Shipping to Canada then most Canadian buyers will scroll right past your listings. And Canadian buyers are the primary market for Canadian coins. If you didn't set up a shipping method to Canada then your listing won't even display to buyers with Canadian addresses. And if you're charging too high a shipping rate compared to other sellers (IE you're charging $30 shipping when we know it could be sent by first class with tracking for about $16) then, again, Canadian buyers will scroll right by.
2. Ensure the Category is set correctly for each listing. A few months back we picked up some great deals from a US seller simply because they had been listed in the US coins category instead of the Canadian coins category. We just happened to stumble across them despite most of our standard searches filtering by Category. But I suspect many Canadian buyers missed them completely.
3. For your Malaysian Straits coin, did you run a search and sort by price + shipping to ensure you had the lowest cost listing on ebay? I don't suspect there are many buyers floating around looking for it so when one does eventually pop up you want to make sure it's your listing they buy and not somebody else's. And it might take a year or two for that buyer to show up so you're best setting it as GTC BIN rather than a 7 day auction.
4. Another pattern with auctions is that many buyers will scroll past ones that have a high start price or a reserve set. So unless you're selling something 'hot' where more than 1 bidder is likely to show up then you might as well go with GTC BIN instead. Or start at .99 and take what you can get which may, as you unfortunately found out, just be .99.
5. Make sure you hit all the key words that a buyer may search on or be interested in within the title. IE "lot 14x 50 cents 1940-1950 Canada 4.2 troy oz ASW 80% silver half dollar fifty" If you have room list all dates individually to get more hits.
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Canada
1984 Posts
 Posted 02/10/2018  5:47 pm  Show Profile   Bookmark this reply Add Smallcentguy to your friends list Get a Link to this Reply
When you say you "had a $200 coin for sale for $190" what exactly did you mean? Do you mean a $200 catalogue value coin? Or do you mean a $200 face value silver coin? If you mean the $200 face value coin, the problem here is that the bullion value is well under $200. The numismatic value is low as they are not really sought after collector coins. So they end up really just being spending money....but if you try to spend one most merchants will reject it. So your best bet may be to take it to a Royal Bank. They are the bank designated by the mint to take back old coins like nickel dollars etc. RBC branches are supposed to take this stuff from all but many branches will still give you a hard time, especially if you are not an RBC client.



Edited by Smallcentguy
02/10/2018 5:55 pm
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basebal21's Avatar
13014 Posts
 Posted 02/10/2018  8:20 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I don't think buyers care much about whether a seller is new.


Even though they shouldn't, a good percentage of them do. It's much harder for a new/newer account to sell more expensive items or sell things with auctions. It's silly since like you mentioned there's always returns ect, but there are a lot of people who just flat out won't buy anything from new accounts.
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TheBurnz's Avatar
Canada
586 Posts
 Posted 02/12/2018  08:48 am  Show Profile   Bookmark this reply Add TheBurnz to your friends list Get a Link to this Reply
@Smallcentguy When I said a $200 Canadian coin, I ment a face value $200 coin. It was a coin from the $200 for $200 collection from the Royal Canadian Mint. The book value is $230. Its the towering forest coin 2 ounces of silver.
Pillar of the Community
Canada
1984 Posts
 Posted 02/12/2018  09:09 am  Show Profile   Bookmark this reply Add Smallcentguy to your friends list Get a Link to this Reply
I am not surprised it was hard to sell. The bullion value is only $40 or so and from a practical perspective the mint sold all that demand would take at the time. So your only market are those who have since decided they want one. They aren't part of a collection series so many collectors won't bother.

I am afraid that this coin is probably only worth $200. Even then it is only worth $200 as spending money and spending it is difficult. The fastest way to get your money out of this coin is to take it to a Royal Bank branch. If you put it up as a buy-it-now on ebay for $200 or $210 I am sure someone will take it sooner or later. But after fees you are better off going to the RBC.

At the best of times, I am afraid buying anything from the mint is an iffy investment.
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TheBurnz's Avatar
Canada
586 Posts
 Posted 02/12/2018  1:03 pm  Show Profile   Bookmark this reply Add TheBurnz to your friends list Get a Link to this Reply
@smallcentguy Actually the down fall is the fact the banks are not taking them back because of the high return rate of the series. People were using there visa's buying these coins at vip rates $10 off, So they were getting a $200 coin for $190 also getting points on their cards, then returning them. The series are discontinued and has become the a smell the Royal Canadian Mint can't get rid of fast enough. The coins sell online for $230 but sold out almost everywhere.

www.cdncoin.com/2014-200-Forests-of-Canada-p/623932059221.htm
Edited by TheBurnz
02/12/2018 1:04 pm
Valued Member
Canada
402 Posts
 Posted 02/12/2018  1:53 pm  Show Profile   Bookmark this reply Add cdngmt to your friends list Get a Link to this Reply
#1 THe Burnz For your (overpriced) 200 for $200 try just depositing them to your bank account and moving out later....its likely they will accept it and eat their loss rather than offend a (longtime/valued) client

#2 Canadian coins....please make sure you tape/well secure the 2x2 to a piece of paper inserted in the envelope or to the envelope....nothing gave me a worse feeling than receiving an (empty) envelope with a tear on the bottom corner a little bigger than 1". Even better are the carboard self adhesive coinwrappers that I sometimes get from USA shippers

#3 Reverse the process of how you found what you were bidding on.
Did you search by coin type ....looking for say 1858-1921 5 cents will generate 2,000 items..so follow KUH_85' advice (it was all pretty well dead on as far I could judge....but I'm generally only a buyer too)
Valued Member
Canadian coins's Avatar
Canada
142 Posts
 Posted 02/12/2018  5:26 pm  Show Profile   Bookmark this reply Add Canadian coins to your friends list Get a Link to this Reply
Thank you for the great advice. Selling coins, in general is definitely a learning process and I appreciate all of the advice. I am using most of tips given, tips that would have taken me awhile to get myself through trial and error. Shipping is the most complicated area for me so far. Determining how much it will cost and which method is the most desired.
@cdn_gmt I am going to use the packing coins method that @TerryT has given me the link to. I think it is the most inexpensive but effective methods I have come across. I haven't shipped yet but will be once my first auction end. Thanks again all, things seem to be running smoothly so far.
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MoneyPenney's Avatar
Canada
2984 Posts
 Posted 02/13/2018  5:29 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply

Quote:
Actually the down fall is the fact the banks are not taking them back because of the high return rate of the series


That is not exactly correct. Banks are supposed to take back the face value coins. However they may decline to do so because they either don't want the extra paper work or they don't know of the redemption program.

It is the RCM who ended the face value coin program due to high returns. There was a guy on TV who was able to go on trips and vacations by buying these coins and returning them. He gained points which allowed him to travel.

If one bank don't take back the $200, keep trying until you find one.

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Canadian coins's Avatar
Canada
142 Posts
 Posted 02/20/2018  06:05 am  Show Profile   Bookmark this reply Add Canadian coins to your friends list Get a Link to this Reply
Hello again, I have a quick question. Filling out customs forms when shipping to the US, what if the information isn't complete? I don't know if asking a buyer for their phone number is faux pas and I am stalled with continuing finishing them. Believe me I googled this which showed me all the problems at customs I could have but not the known solution in regards to ebay. What's the consensus on asking an ebay buyer for their phone number?

Edit* Also Thank you for your great advice, I just finished my first auction and It was a success.
Edited by Canadian coins
02/20/2018 06:07 am
Pillar of the Community
Canada
1984 Posts
 Posted 02/20/2018  07:04 am  Show Profile   Bookmark this reply Add Smallcentguy to your friends list Get a Link to this Reply
I have never put a phone number in and it has never been an issue. If you sign into paypal and look in the order details, the phone number is often there. You have to hit the button in paypal that asks to look at things in "classic view" or something like that.
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