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 Replies: 17 / Views: 4,022 |
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Pillar of the Community
Canada
798 Posts |
Just an interesting little tidbit I found out over the weekend while speaking with a friend of mine who works for ebay Canada. Did you know that ebay ranks searches for high volume sellers HIGHER than a mom and pop seller? For example, because of the search rank, if you were to sell the exact same NCLT coin as a big seller, the big seller may get 6x to 10x the views. This means that your coin will sell for much less money $$$ than a bigger seller's coin during an auction. That is bad news for collector's looking to unload some of there items. Also did you know that U.S. sellers rank higher than Canadian sellers? They do this because U.S. shipping rates are much more reasonable than Canada Post, and consumers see U.S. sellers as more reliable. Did you know that ebay reports high volume PM/NCLT buyers, and large PM/NCLT purchases to the CRA and an AML/Proceeds of Crime regulating body? They are required by the Canadian Government to do so. Did you know that eBay/Pitney Bowes charges import fees on Canadian pure bullion/NCLT on behalf of the Canadian Border Services Agency and Revenue Canada? This is done because the coins are classified as jewelry or collectibles, since the import of precious metals into Canada is prohibited under the Canada Post Corporation Act concerning S(5.2) Prohibited Items and Non-Mailable matter. I am disappointed to see that it is becoming more difficult to make a profit in NCLT lately! What are your thoughts? What do the Canadian dealers think about this? |
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Pillar of the Community
Canada
2984 Posts |
Quote:
I am disappointed to see that it is becoming more difficult to make a profit in NCLT lately!
I am curious, which coins have you sold for a profit? The days flipping coins for a profit are long past. I suppose you could make money if you bought the UFO or meteorite coin last year. But that is like 2 coins out of 300 RCM releases. How could you make a profit on coins when the RCM and dealers still have them in stock at issue price? So the only choice is to sell them below issue price and once you factor in eBay/PayPal fees you are losing a lot of money. I have completely stopped buying RCM coins and trying to get rid some of my coins. Even offering my coins at a discount does not work. There is just no demand for NCLT even at discounted prices. Edited by MoneyPenney
01/21/2019 02:40 am
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Bedrock of the Community
 United States
12477 Posts |
 The RCM puts out too much for there to be a demand for the modern NCLT output at asking price. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
 Canada
798 Posts |
MoneyPenney, you are 100% right. Unless the price of silver rockets up, or the RCM cuts its NCLT business, nothing will change. |
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Pillar of the Community
Canada
6767 Posts |
From what I see on ebay, and according to my few sales (when I want to sell some coin): when RCM NCLT (not only RCM's, just I have no other data) sold for 60% from issue - this is "success" , 50% from issue - it's OK. 80% - 90% from issue : "how did I do it?" - very rare case. Usually coin can be stay in the listings for months (or years?). |
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Pillar of the Community
United States
900 Posts |
This is quite interesting to me. Just a couple of days ago, I was trying to figure out why $20 silver Canadian coins were going for less than $20 on ebay, because I am trying to sell a few. I guess it is unreasonable to list them at $20 each. |
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Pillar of the Community
United States
900 Posts |
I will also add that when I search for my listings, I am lucky to find one on the first one or two pages of results. I'd be interested to know what affects the search results. I'm sure you can pay to move towards the top of the list.
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Pillar of the Community
United States
2408 Posts |
According to the 2018 Silver Institute's report, world coin and bar demand has been dropping heavily since 2016. 2018 is probably even worse.  With increasing markups, NCLTs are most vulnerable I think. |
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Moderator
 Canada
10456 Posts |
Ahhhh.... memories of 2011, when I unloaded my entire bullion silver hoard...  "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Bedrock of the Community
United States
12477 Posts |
Interesting graph, @canadian_coins. It essentially shows what I already believed. @SPP, it seems you sold at just the right time, so far. What will the future hold?  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
Canada
999 Posts |
If I'm searching for NCLT on ebay I usually sort it based on lowest price + shipping. This tends to give the advantage to Canadian-based sellers as a lot of the U.S. sellers use the global shipping program which jacks up the cost. I don't even look at the sellers that have all in cost of issue price or more. |
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Pillar of the Community
Canada
1571 Posts |
A $20 coin shouldn't sell for less than $20 since it can be taken to a bank for face value.
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Forum Dad
United States
24147 Posts |
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A $20 coin shouldn't sell for less than $20 since it can be taken to a bank for face value. You just reminded me of our old friend BiggFredd (RIP). There was a topic years ago about ebay powersellers. I believe someone mentioned that they only buy from powersellers because they were obviously more trustworthy. His reply was something like.... I could sell $100 bills for $80 and be a power seller in a few days. Doesn't make me trustworthy, just stupid.I miss the Bigg Guyy.  |
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Pillar of the Community
710 Posts |
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A $20 coin shouldn't sell for less than $20 since it can be taken to a bank for face value. Some dealers have sold the $20 for $20 series coins for below FV in the past. Is this a loss leader to drive their business or did they acquire the coins for less than $20? |
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Pillar of the Community
Canada
1571 Posts |
I know some dealers were buying $20 for $20s for $16-18 then taking them to the bank once they had a bunch that weren't selling for $20.
I have never had any problems cashing coins for face value at the bank so I'm dumbfounded that anyone would sell them for less.
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Pillar of the Community
Canada
1505 Posts |
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I'm dumbfounded that anyone would sell them for less. For some it is simply time vs. Money. Selling 5 20x20 at $18 might be good enough, instead of spending 30+ min at bank waiting for teller, then right person, paperwork, etc... |
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Replies: 17 / Views: 4,022 |
Posted 01/21/2019 03:38 am
