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Valued Member

United States
227 Posts
 Posted 08/19/2008  6:53 pm Show Profile   Bookmark this topic Add coinsrus to your friends list Get a Link to this Message Number of Subscribers
I have bought coins on ebay and gotten burned
I purchased two high grade slabbed coins when I got them I really didn't know that they weren't what the slab said they were grade wise. Now that I have more experience and got the opinion of some local coin dealers. I'd say there really Around AU-50. Any tips on getting good deals on ebay. Thanks

Edited by Forum Mom to move from Main Coin Forum to Auction Forum
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BadThad's Avatar
United States
19957 Posts
 Posted 08/19/2008  7:04 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
- Bid below CDN and pray the coin is good if you win.
- Never get in a bidding war, lock in your max bid and be done.
- Don't pay a low price and outrageous shipping. Shipping fees are non-refundable.
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xshift's Avatar
United States
2669 Posts
 Posted 08/19/2008  7:27 pm  Show Profile   Bookmark this reply Add xshift to your friends list Get a Link to this Reply
Good points, Thad. I would only add:

--If possible, deal with someone you know
--Do your research first: what to look for on the coin, if the grader is one of the top TPG's (if it is slabbed) and always grade it yourself; don't rely on the seller's grade
--Look at the seller's feedback carefully. Before the change in feedback, buyers would sometimes check the positive button but say what they really meant in the text of the feedback message.
--Try to stay away from the HUGE COLORED FONTS and "L@@K GEM BU PQ PQ PQ" auctions. The bigger the hype, the further you should run.
--If you can't see good details in the pictures, don't bother. There is usually a good reason why the seller didn't provide bigger pictures.
--When you do find a good, honest seller, return to his shop/listings! Once you find the ones who deal honestly, you'll have it made

I got burned pretty badly as well (it may be a rite of passage!).. but the above is part of what I learned in the process . Good luck, and have fun!
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coinguybrian's Avatar
United States
5375 Posts
 Posted 08/19/2008  7:37 pm  Show Profile   Bookmark this reply Add coinguybrian to your friends list Get a Link to this Reply
-Ask for good pictures, but to your email. This isn't the nicest thing to do, but it'll give you an advantage if the pictures in the auction are poor. Usually, they will put them up anyway.

-Try to bid at times when almost nobody is on, like the middle of the night. Choice is usually limited now. However, do not rule out 'on' times.

-Ignore NNC and nonsense 'certified', unless you are taking into account likely cleaning and a lower grade.

-Bid low if you are unsure. I have avoided being burned a few times this way. Didn't get a great deal like I hoped, but came out about even.

-Don't do business with people who respond to your questions in ALL CAPS or are rude, at least most of the time

Pillar of the Community
United States
1026 Posts
 Posted 08/19/2008  7:42 pm  Show Profile   Bookmark this reply Add Brucec to your friends list Get a Link to this Reply
I would say make sure it is graded by one of the top grading services such as NGC, PCGS, ANACS and then do not pay more than the Red Book valve try and buy for under the Red Book Value.

But sometimes you just want that coin :)
Valued Member
United States
227 Posts
 Posted 08/19/2008  10:34 pm  Show Profile   Bookmark this reply Add coinsrus to your friends list Get a Link to this Reply
Anbody now any really honest people on ebay who I should look at their store first?
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bobby131313's Avatar
United States
24161 Posts
 Posted 08/19/2008  10:42 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
Valued Member
United States
227 Posts
 Posted 08/19/2008  11:11 pm  Show Profile   Bookmark this reply Add coinsrus to your friends list Get a Link to this Reply
bobby131313 was just wondering how you get such great coin pictures. I have had terible luck getting quality detailed pictures.
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SpringCypress's Avatar
United States
666 Posts
 Posted 08/19/2008  11:13 pm  Show Profile   Bookmark this reply Add SpringCypress to your friends list Get a Link to this Reply
Great points... the two biggest that I agree with.

Determine your max amount you want to bid and stick to it... Furthermore look at using a sniping program as you'll end up with lower winning bids.

Find good sellers and stick to them... I buy lots of stuff off of ebay and from lots of sellers. I'll bid on items that I don't really want from sellers I've never bought from before. If I can pick a low end item up (say less than $10 shipped) and the item ends up being better than advertised I put this seller on my watch list. Then I'll bid on a mid grade item from the same seller (say something in the $50-75 range). If I win this item and it also is better than advertised then I add this seller to my favorite sellers list.

I always buy big ticket items from my favorite sellers list or from a local dealer. To this point I've never been burned on anything larger than $10 shipped.
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e-baguio's Avatar
Philippines
107 Posts
 Posted 08/19/2008  11:56 pm  Show Profile   Bookmark this reply Add e-baguio to your friends list Get a Link to this Reply

have you seen sellers with lots of coins for sale?

most have clear pictures... SOME DON'T! they even graded it! saying its uncirculated or BU or very nice coin or something like that.... why not show it in the picture?

AND WHY THE UNCLEAR PICTURE/S?

it's impossible not to get a clear picture of some coins while other coins have a clear pictures...

what's the catch... he he he... that/those seller/s is/are trying to get a few dollar over the actual price of the coin if ever the pictures are clear...
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Elimist's Avatar
United States
632 Posts
 Posted 08/20/2008  01:15 am  Show Profile   Bookmark this reply Add Elimist to your friends list Get a Link to this Reply
Personally I have not evolved my collection into slabbed coins for the very reason that a coin is slabbed becuase it is supposed to be a protected and valuable specimen. I don't have the kind of money to buy a coin the types of coins that deserve slabs. And since slabbed coins are traditionally going to run you higher, heres a few tips ANYONE on this forum could help you with.

Buy the coin, not the slab. If the slab says its an MS-64 and the coin looks like crap, don't buy it. The slab isn't reliable. Which leads me on to my second tip about reliable grading services.

PCGS, ANACS, and the NCG are the big grading services and also the most trusted and reliable. If you want an honest slabbed coin specimen then buy from these grading companies.

Most every other grading company I've ran into and seen discussed on this forum you should really just stick to the rule of buy the coin not the slab. Even I have bought some cheap SGS slabs just to crack the coins out of them and put them somewhere else. SGS is an abysmal joke of a grading company but I just so happened to find the coins I needed at the right price and condition inside and SGS slab. Of course SGS said they were all MS-70
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DeathJr's Avatar
United States
230 Posts
 Posted 08/20/2008  03:33 am  Show Profile   Bookmark this reply Add DeathJr to your friends list Get a Link to this Reply
also if something looks to good to be true dont bid. Watch items from beginning to end and also Don't go for people with under 100 rep.

at first I got burned as well not bad I got my coins but paid way to much. Now I'm finding I win key dates for under 100 bucks recent result was a 1886 nickel for 31.00 and turns out to be a 150-200 dollar coin and my most prized pocession a ms64 1928 Peace dollar wich I got for a mear 67.39
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SeatedNut's Avatar
United States
2797 Posts
 Posted 08/20/2008  08:10 am  Show Profile   Bookmark this reply Add SeatedNut to your friends list Get a Link to this Reply
Lots of sage advise. Here are my ebay rules:
RULE #1 - If in doubt, pass! This is sometimes hard to do, but you need to trust your intuition. It got you this far for a reason.
RULE #2 - Slabs from the following are acceptable only for certifying the coin as genuine and divulging cleaning (PCGS, NGC, ANACS, ICG, PCI). I grade all the coins inside the slabs myself and go with MY grade. All other slabs are to be deemed "raw coins" and if the picture is sufficient to determine condition/grade, I will bid to the grade I assign.
RULE #3 - If the pictures are bad, so is the coin. (Caveat ... sometimes I pick up on some rare varieties from bad pics by downloading, enlarging and tweaking)
RULE #4 - If you find a seller you like, stick with them.
RULE #5 - Pay with a credit card via PayPal ... an extra layer of protection over PayPals limited protection.
RULE #6 - Make sure there is a return policy and use it if you aren't satisfied with the coin. (use some common sense though, returning a $10 purchase costs you $9 shipping both ways)
RULE #7 - Out the bad actors. Tell it like it is in feedback and share the experience on this and other coin forums.
RULE #8 - Ignore all previous rules if you find something you just gotta have.
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cabomhn's Avatar
United States
202 Posts
 Posted 08/20/2008  08:33 am  Show Profile   Bookmark this reply Add cabomhn to your friends list Get a Link to this Reply
My advise would be look for things like returns and guaruntees. I now don't purchase from a coin seller unless they have at least something like a 7 day grace period where you can inspect the coin and return if neccesary. No, shipping is not paid for by the seller but if it is a more expensive coin then I would look for these return details. The best one that I have seen is 30 days no questions asked returns.

Something else is I would try to steer clear from the sellers that sell in lots and it is a flat rate for a certain coin but you don't really know what the coin looks like or what date it is. For this there really isn't a whole lot of recoil on the seller because normally in the description is says something along the lines of no guaruntee or what-not. Hope I could help.

cabomhn
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Bonedigger's Avatar
United States
1267 Posts
 Posted 08/20/2008  10:01 am  Show Profile   Bookmark this reply Add Bonedigger to your friends list Get a Link to this Reply
Great advise everyone. Know who you're dealing with #1 and check the return policy #2.

Ben
Valued Member
United States
429 Posts
 Posted 08/20/2008  12:25 pm  Show Profile   Bookmark this reply Add penny pincher to your friends list Get a Link to this Reply
A couple more items:

1. Make sure they offer insurance. A lot of people add $5.00 for S&H and then put a single stamp on a cheap envelope and hope it gets there. A true collector will want the coin to get there and keep you happy.

2. Buy coins from sellers in your country. Sometimes the S&H can kill you and there are a lot less chances of someone taking advantage of you. Do NOT buy coins from China or other countries nearby with all the counterfeit 'coins' that are going around.

3. Research. Look into the things you are wanting to buy, this will help you get a better understanding of what you want and need.

4. Multiple bids. Find a coin you want and find multiple auctions of the same thing so your chances are better of getting at least one.

5. Mis-labeling. Find the items that people do not list properly and try to jump on these when you can. There actually are a few people that have no idea what they have and trying get a few bucks from it, these are the items you can clean up on.

7. PCGS or not PCGS. If someone quotes PCGS as the price of the coins then run. They usually slab their own coins and drag new collectors into the mix by thinking they are getting a great deal. If they really had $10,000 in coins, they would not let them go for $20.

6. Learn from mistakes. We all make them and learn from them. From the few threads you have started lately I am guessing that you bought a couple of silver coins from a seller on ebay that graded them in their basement and tried to pass them off as one of the major grading services. After getting your coins you quickly discovered this and found that there was no return policy so you did the next thing and went to your local dealer for help. He/she told you what you had (which was what you discovered) and that they really were not worth that much. If it was me, I would put those coins somewhere you can see them so you can remind yourself now and then of the mistake and hopefully not repeat it. I did this two years ago with some Lincoln Cents that were MS69 and 70 that turned out being MS63-65 which is a major price change. There was no return policy and the writing was very well done that there were a ton of loop holes to cover him and not me.
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