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 Replies: 23 / Views: 1,922 |
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Valued Member
United States
373 Posts |
I have been bidding on ebay auctions for the past few months and have noticed that most bidders seem to bid higher than the values on Numismedia. If I'm supposed to bid lower than the values on Numismedia, I would hardly win any ebay auctions. So, I was wondering what the other bidders are looking at in reference to coin values. I tend to look mainly at Numismedia prices. I was wondering if the other bidders know they are over-bidding. If I really want to win a certain auction, then I am usually going to have to overbid like the rest of the bidders. I sometimes look at ebay auctions that have ended and look at what a coin sold for, but I can't figure out how that helps. I see many differing prices that a coin will sell for. For example, in one auction the winning bid was $15.00 and another auction for basically the same coin the final bid was $35.00. So, I don't see how looking at ebay auctions that have ended helps me determine the right price to bid for. What I have concluded is that many bidders overbid on ebay auctions. |
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Pillar of the Community
United States
3848 Posts |
Life lesson: people tend to overpay in every auction. ebay especially brings good hammer prices for lower end coins. If those same lower end coins were offered on another site, they would probably bring less. Try to shop around and see what the best outlets are  Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Valued Member
 United States
373 Posts |
I guess there's nothing wrong with overbidding if you just like the coin and are willing to pay anything within reason for it. It could be many bidders aren't looking at Numismedia or any other source. I have tried to shop around online, but always come back to ebay. I know one thing: trying to win an auction for a Morgan or Peace dollar is futile unless you have lots of money to spend. I haven't won an auction for a Morgan or Peace dollar in recent memory. It seems like bidders gobble up those dollar coins like candy, no matter the price. Thanks for your suggestions, jacrispies......... |
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Pillar of the Community
United States
2214 Posts |
I've never used Numismedia. I don't know how often they update their prices and what auctions they use to determine price. Dealers and some collectors use Greysheet with a subscription, I think it's pretty accurate. In my opinion ebay sold prices are a good indicator of value. But auction prices will always fluctuate depending on the coin, if there's a minimum bid, how long it's been listed, how good the coin photos are or just stock pics, how many bidders and how bad someone wants it. For example a common US Mint commemorative can be listed by numerous sellers but can vary in final price on each auction. Edited by livingwater
03/25/2024 8:00 pm
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Valued Member
United States
373 Posts |
That's a good question: How often does Numismedia update their prices? ebay sold prices fluctuate also. One auction a coin will sell for $10.00 and another auction for $20 and another $45. So how can I make a proper assessment if the same coin (more or less) sells for different prices? |
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Pillar of the Community
United States
2214 Posts |
It may be the same coin type, same year but condition can vary, maybe just a little more wear or a tiny scratch. It can't be the exact same coin. The number of bidders varies, how high someone wants to bid varies. I think every collector has sometimes gotten good deals and sometimes overpaid some. Understanding the condition of a coin, researching prices helps in deciding how high to bid.
Edited by livingwater
03/25/2024 8:25 pm
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Bedrock of the Community
United States
19117 Posts |
If I see a coin I really like, it's listed by a reputable seller, and the photos are sharp and complete--I go for the coin. I have no issue paying for it.
Having said all that, I only purchase 'high ticket' coins at trusted coin shops or at coin shows. That way, I can examine the piece in-hand before pulling the trigger.
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Bedrock of the Community
Australia
21786 Posts |
Risky business.
Unless the pictures provided for the auction are of the best quality, such that
the viewer can grade accurately for his/herself, then
the winner of the auction would most probably one who has over graded from the pictures.
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Valued Member
United States
373 Posts |
My instincts tell me to look at the photos of the coin, look at the description, check that the seller has a great rating, then look up the value of the coin on Numismedia and/or ebay sold prices. And I'll still probably overpay for most coins because it's a bidding war. The auctions I win, I'm usually surprised. It must mean I overpaid. I can't afford "high ticket" coins. "High ticket" for me is usually around $75. And, I've had a 5 or 6 year absence in coin collecting, so I'm just getting back into it, as of 4 months ago. I am quite content to possess good quality Lincoln cents in VF-AU condition. |
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Pillar of the Community
United States
4233 Posts |
Post an example so we have something specific to analyze. Could be a wide range of various things. In your price range I'm guessing a lot of these coins are raw. Could be people that are unaware of Numismedia, people only going off what PCGS or NGC price guide says, overgrade the coin, just want it really bad because it's shiny, clueless bidders who think it's the one they saw on a get rich website, shill bidders, etc etc. I can't remember the last time I bid on a coin on ebay. I stick mostly with GC and Heritage now. At least there I feel like I'm up against knowledgeable bidders so if I do win, I won't have overpaid by too much, although bidders certainly go crazy there as well, and I think a lot of them disregard the buyer premium. Edited by kbbpll
03/25/2024 11:31 pm
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Valued Member
United States
373 Posts |
Surprisingly, I won this auction for a UNC 1909 VDB Lincoln Cent: https://www.ebay.com/itm/355554931969I checked out Numismedia and they had this: 1909 VDB BN MS-63 - $28.80 MS64 - $38.75 So, I figured I did good on this auction. I don't think I overbid. I paid $20.50. I bid on a 1942-D Lincoln Cent: https://www.ebay.com/itm/364773386011I checked out Numismedia and they had this: 1942 D RB MS63 - $4.60 MS64 - $7.48 So, it looks like I did good here too. I don't think I overbid. I paid $1.35. I am bidding on a 1910 Lincoln Cent UNC: https://www.ebay.com/itm/176303013990I don't really know if this coin is considered BN or RB since it's toned. I checked out Numismedia and they had this: 1910 BN MS63 - $28.80 MS64 - $47.50. I don't really know if this is a MS63 or better. My maximum bid right now is $29.00. |
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Valued Member
United States
373 Posts |
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Pillar of the Community
United States
819 Posts |
You can always post a want list. A lot of members have extras that they may be willing to sell. And you won't have to deal with e bay.
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Valued Member
United States
373 Posts |
Thanks, chipjones, I'll keep that in mind.
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Bedrock of the Community
United States
10982 Posts |
The divot in front of the chin on the '24-D we keep me from bidding any higher. I would not guess a grade and then put a Numismedia value on a coin. The prices you come up with will almost always be too high.
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Bedrock of the Community
United Kingdom
17890 Posts |
Sometimes you just need one common date coin to finish a set and, rather than spend endless hours going through trays in coin shops, it's easier to buy the coin on ebay even if you end up overpaying slightly for it. |
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Replies: 23 / Views: 1,922 |
Posted 03/25/2024 6:46 pm
