New Breed Of Ebay Hucksters - Coin Community Forum

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Author	Replies: 3 / Views: 1,836
SeatedNut Pillar of the Community United States 2797 Posts	Posted 06/23/2008 11:39 am In my recent searches for Morgan VAMs I've noticed more and more sellers hocking their wares for exhorbitant prices. I am at work so I can't provide a link, but as an example ... an 1878-S Morgan, in a PCGS64 slab ... nothing remarkable about the coin, with an opening bid of $495 and BIN of $525. Do these people really think someone will pay that much for a $60~$80 coin? There's another seller who constantly has a 500% mark-up over current value for his coins. These are not single-coin sellers. They have many coins listed and have completed thousands of transactions. I have seen these types of listings in the past, but they were few and far between. Now I see several on every page. Is this happening elsewhere besides Morgans? Report this Post to the Staff

GO Moderator United States 6563 Posts	Posted 06/23/2008 11:42 am Quote: Is this happening elsewhere besides Morgans? It's always been there but I do agree that it is getting worse. Some sellers are desperate and all it takes are a few clueless buyers to get suckered into what they think is a great deal for them to make a killer of a profit. Poor me can't even buy Marshall Island $50 coins anymore near melt like I used to. Everyone starts the bids from between $25-$45 Report this Post to the Staff
bobby131313 Forum Dad United States 24170 Posts	Posted 06/23/2008 11:53 am Well this is one case where the buyer needs to be educated and the seller can't really be blamed as long as the listing isn't lying about anything. I once sold some things for an old timer with a little antique shop. There was a lady with a big antique shop a few miles away. I asked George one day, "How does this lady get the prices she does for this stuff?" His answer was very simple and to the point, just like most old-timers answers... "She asks for it." Shop CCF Members on eBay. Report this Post to the Staff
murty Pillar of the Community United States 1353 Posts	Posted 06/23/2008 12:51 pm Bobby131313 is right on the money. Do these people really think someone will pay that much for a $60~$80 coin? They will!! W.C.Fields "There is a sucker born every minute" Report this Post to the Staff
	Replies: 3 / Views: 1,836

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