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 Replies: 15 / Views: 2,141 |
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Valued Member
United States
95 Posts |
Man, this is not a cheap hobby if you're trying to get anything old ... I've bid on about 25 ebay auctions, and have only won 1, that that's because I accidentally bid $250.00 instead of the $2.50 I meant to ... The auction sold for $7, so I didn't lose THAT much money (it was for 4 vf Buffalo nickels) ... How do you guys manage to get so many old coins, i.e. Trade dollars, morgans, barber quarters/etc ... Did you inherit them, or have you been doing this for a very long time? I cant even seem to get Ben Franklin half dollars for a decent price... I checked out a couple of local coin shops, and the prices were even worse... I'm basing my prices off of the Red Book... How much % above that should I expect to pay? ** Moved to this Forum **Edited by lim118
05/13/2006 10:37 am
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Pillar of the Community
United States
7123 Posts |
Hi Mooseknuckle ebay can be really tough sometimes !! Many of us here have been collecting for many years (somewhere on the forum is a poll for how long ) As for the RedBook and prices !! well just recently I have seen dealers offering coins priced at RedBook level, personally I would not pay above that level (except right now silver is hot and RedBook maybe running very close for retails on silver) Best advice I can share is keep trying ebay, but bring your post count up to be able to Buy ,sell or trade here on the forum !! I can tell you that it is much safer than ebay and a whole lot more enjoyable !! Rick |
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Pillar of the Community
United States
4589 Posts |
couldn't say it any better myself Metalman
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Valued Member
United States
94 Posts |
I ran a thread on this the other day. In my opinion, it's very difficult to find any true "deals" on ebay (with regards to coin collecting). I'm lucky enough to have a half dozen decent coin dealers within a 15 minute ride of my house. I've yet to see something on ebay that I can't better at a local shop. |
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Pillar of the Community
United States
5362 Posts |
Hello Mooseknuckle - interesting name! I guess the value of ebay is in the eye of the beholder. Some of my best purchases have actually come from ebay. My advice to you is don't give up - but also know what you want and what they are really worth. Red Book is OK but you need to get more up to date prices. A subscription to Coin World is a good and reasonably priced source for more up to date info. Grey sheet is better - but much more costly and really is a tool for a dealer not a collector. I specialize in early contemporary counterfeit dollar coins. I collect those but I buy and sell silver coins of all types. One of the rarest counterfeits I own has been published in the "Supplement to Hooknecks" by Clyde Hubbard and Dave O'Harrow. That coin is a unique die variety and one of only a handful of contemporary forgeries of the 1824 Mexican 8R known to exist. I won it on ebay for under $50. My snipe bid was many times higher and I was shocked at the final price for such an extreme rarity. I usually bid on at least 10 times more coins than I expect to win. For the first two years I was on ebay I actually tracked my losing bids. I reached 15,000 losing bids in two years. I always use auction sniper for coins I want. It saves money and keeps you from getting in a bidding war. At my age it also comes in handy when you forget an auction. Also, I only bid openly on coins I DON'T really want to win. In those cases, I am usually bidding at wholesale level essentially bottom fishing. If I win, I can resell at a profit - if I lose who cares. If you lose to a snipe from me on ebay you likely were bidding on a forgery anyway. Don't get discouraged - good investment coins are still out there. Just don't be a follower - look into markets that are likley to change in the future. Buy low sell high is the only way. |
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Moderator
 United States
23522 Posts |
I seriously follow about 25 auctions per day to find the one or two per week I actually buy. That's the only way ebay will work for you. The beauty is, there'll always be another coin in a market that size. |
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Bedrock of the Community
United States
14454 Posts |
ebay is the only venue I have offered to me since there are no "good" dealers close to my house, I started collecting close to a year ago now and I have bought every one of my coins from ebay except for the coins my grandfather gave me, but they arent morgans or anything. My main collecting interest is on morgans and I have had to buy each and every one of them from ebay or Heritage. I am lucky enough to have close to 50% of the date/mint set finished, but since I only buy graded coins by NGC or PCGS I usualkly end up paying close to retail for the coins I want or need. I have all of the more common dates and am now working on the more expensive coins since I am trying to keep my collection at MS-64's. I have been playing the ebay game alot longer than I have been collecting coins though and I have learnt that you set the price you are willing to pay and if it goes higher than that,just wait for the next item just like it to come along and bid that same amount on it. sooner or later you will get the it but it probably will not be the first one you see. There are always people out there that they want something and money is no object to aquire that specific item, let them have it and move on to the next one that comes along, sooner or later all of them will have theirs and then you can have one you can aford
Edited by Bryan1315
05/12/2006 12:10 pm
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Pillar of the Community
United States
1703 Posts |
Buying/bidding on ebay coins is a dog eat dog game and lately I feel I've been wearing milkbone underwear.  |
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Pillar of the Community
United States
4589 Posts |
qoute _____________________________________________________________________ Buying/bidding on ebay coins is a dog eat dog game and lately I feel I've been wearing milkbone underwear _____________________________________________________________________ Now thats funny LoLll I would get rid of those as soon as I could Edited by scoutjim99
05/12/2006 1:03 pm
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Pillar of the Community
United States
1703 Posts |
quote:
Originally posted by scoutjim99
qoute _____________________________________________________________________
Buying/bidding on ebay coins is a dog eat dog game and lately I feel I've been wearing milkbone underwear
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Now thats funny LoLll I would get rid of those as soon as I could
I'm trying.  Think I'll put them on ebay [:p] |
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Valued Member
United States
382 Posts |
First...get yourself a decent sniping program. I use "Auction Sentry" and bid on auctions RIGHT (seconds) before they close. Sometimes I win, other times my proxy is not high enough, but either way, it frees me up so I don't have to montior auctions I am interested in at all hours of the day. This program was inexpensive but has paid for itself 10 times over! Second...only buy coins graded by the top TPG's, that is PCGS, NGC, ICG and ANACS. PCI and SEGS are okay, but I have to mentally deduct 2 to 5 grading points (in MS) and then I bid accordingly. After all, when I get a coin in lower tiered slab like PCI, SEGS or even NTC (warning...NTC is actually getting WORSE in their standards), I am most likely going to break it out and/or resubmit it to one of the top TPG's. I would advise against buying key date raw coins. As Scott Travers stated in a recent Coin World article, "If a key date is NOT slabbed, then there is probably something wrong with it." I would NEVER buy a key date coin raw from ebay or any other "sight-unseen" auction house. There is just too many counterfeit, whizzed, cleaned, dipped, alternated, etc., coins being sold for my liking. Hence, one of the reasons why the TPG's have taken off. But wait...just because a coin is "slabbed" doesn't mean it is independently graded! Going back to ebay and sellers like Aboncom who take their own coins and "slab" them in their OWN plastic and now call it a SGS (Star Grading Service) MS70 coin is a HUGE scam going on ebay right now. Matter of fact, there are a vast number of so-called grading companies that sell their trash on ebay just to take advantage of "sight-unseen" buying. ebay is easy to buy coins and there is no hassle other than clicking a mouse. You get an instant "self-gratification" when you make a purchase and even feel better when it arrives. It is easy and very convenient...but you have to be careful. So as a recap with more suggestions... 1.) Get a "sniping" program (you will thank me later) 2.) Buy from only sellers you know and trust 3.) Buy only certified coins, especially "key" date coins 4.) Beware of the "scammer-slabbers" like SGS and others 5.) There is no such thing as "found in the attic" coins 6.) My home is part of my "estate", so "estate" coins are just that, nothing more. It sounds nice, but that is all it is! 7.) Read posts and learn from this forum. Good luck...
Edited by zakgold
05/12/2006 2:29 pm
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Valued Member
 United States
95 Posts |
Thank you everyone for your thoughtful replies ... terrific advice zakgold!
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Pillar of the Community
United States
1327 Posts |
my advice would be like everyone don't hurry. if you really watch you cna get a good deal. I have got most of my old stuff from coin stores or shows and a few of ebay. I have found a few good dealers with very good prices on some of the older stuff. I would be very careful buying any Trade dollar off ebay since there are alot of fakes. also if you look at the left of the forum there is a link for members auction adn if you go through there auctions you should be able to find what you want for a good price. Also look at the pictures close and learn pricing of coin if you are not famlar don't go buy what they say the coin is worth since alot of times they use PCGS price guide and in my opion is high. the main thing is have fun and stick around here and post and then there are good deals you cna get here |
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Valued Member
United States
411 Posts |
quote:
Originally posted by Bryan1315
Ebay is the only venue I have offered to me since there are no "good" dealers close to my house, I started collecting close to a year ago now and I have bought every one of my coins from ebay except for the coins my grandfather gave me, but they arent morgans or anything. <snip> I only buy graded coins by NGC or PCGS I usually end up paying close to retail for the coins I want or need. I have all of the more common dates and am now working on the more expensive coins since I am trying to keep my collection at MS-64's. <snip>
 I could have written that myself Bryan1315, we're so much alike in our buying habits. And I do mean habits. I started out buying all my coins from ebay. I would say that maybe 60% of the coins I was buying turned out to be cleaned. Even from big outfits (e.g., Great Southern Coins), I was getting cleaned coins. I soon tired of that. As a result, like Bryan1315, I now only buy slabbed coins with one exception: I buy circulated raw Walkers from two sources, both of whom I initially discovered on ebay. I was very lucky to find an honest, educated eBayer who sells problem-free coins. I noted that he described the pros and cons of every coin, and when a coin he was selling had blemishes that photos did not show, he noted the problems in his description. It turned out that he has his own website and sells "collector coins" at very good prices - and you can pretty much rely on his grades. He even has a limited number of slabbed coins. I hope it's okay to post the link to his website - anybody interested in type coins and good problem-free raw circ'd coins should check it out. He even has a limited number of slabbed coins. Here's the link: http://www.klink.net/~jco/c.shtml The other seller I buy from somewhat regularly is bob_at_walking_liberty (I think that's right) and he has a collector coin website too I think. Long story sort of short, keep looking for honest fair priced dealers, they do exist, and consider "buy it now." I buy slabbed coins that way from a seller called "erscoin," among a few others. Erscoin's offerings are buy it now, slightly less expensive than CoinValues and/or PCGS Price Guide, and they are generally investment quality coins slabbed almost exclusively by PCGS or NGC. There are others out there. But my point is, if you can find a dealer you trust on ebay, chances are, he/she has non-eBay ways of buying/trading/selling coins. That way, you develop a relationship with a dealer, and he/she is more apt to take care of you if that happens. I just bought my first coin from Legend Numismatics (one of the best websites I've found - lots and lots of breathtaking images - overpriced, but very high end, heart-stoppingly beautiful coins). My last coin purchase was from them and I should have it in hand by next Tuesday. I can resist showing off, so I hope you're sitting down! (I'm posting the same image in the Coin Grading Practice forum so I'm not telling you what the (PCGS) grade is):   Edited by Stephen420
05/13/2006 01:12 am
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Valued Member
United States
236 Posts |
AS an old time collector-since 1952- I am always a bit surprised at what I read and hear concerning slabbed coins. Also- all we hear is ebay ebay-- Don't you guys know there are a few other auctions out there in la la land? You can pick up some great deals on some of the other auctions- Yahoo is one of them. Time is money- and I do not have the time to sit and bid bid bid hoping that out of 50 bids I may get one good coin.- No, my advice especially to all you new collectors. Get to know a dealer in your town- or a town near you. Check out several dealers. It won't take you long to learn which one you want to deal with.- Many of the dealers go to shows and keep replenishing their stock- So in many cases you will be able to get the coin you want. Also stick with your program- I mean try not to go haram scaram in several directions- stick to types if that is what you want to collect. In this manner, you can accomplish many goals. I started a Major US Type set many years ago- and completed it. Completed Panama type set, compelted Philippine type set- completed Great Britain Victoria type set- Completed Great Britain Farthing set.- compelted Mexico type set.etc; Then I went to ancients- and there is where I will stay-because there is where the variety is-- Oh speaking of variety, Conder tokens supply a tremendous amount of variety and beauty. Now all of this could be construed as a brag- but not intended- but merely to show perserverance in one thing at a time will yield much better results than going with the fads. |
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Pillar of the Community
United States
1703 Posts |
quote:
Originally posted by habiru001
AS an old time collector-since 1952- I am always a bit surprised at what I read and hear concerning slabbed coins. Also- all we hear is ebay ebay-- Don't you guys know there are a few other auctions out there in la la land? You can pick up some great deals on some of the other auctions- Yahoo is one of them. Time is money- and I do not have the time to sit and bid bid bid hoping that out of 50 bids I may get one good coin.- No, my advice especially to all you new collectors. Get to know a dealer in your town- or a town near you. Check out several dealers. It won't take you long to learn which one you want to deal with.- Many of the dealers go to shows and keep replenishing their stock- So in many cases you will be able to get the coin you want. Also stick with your program- I mean try not to go haram scaram in several directions- stick to types if that is what you want to collect. In this manner, you can accomplish many goals. I started a Major US Type set many years ago- and completed it. Completed Panama type set, compelted Philippine type set- completed Great Britain Victoria type set- Completed Great Britain Farthing set.- compelted Mexico type set.etc; Then I went to ancients- and there is where I will stay-because there is where the variety is-- Oh speaking of variety, Conder tokens supply a tremendous amount of variety and beauty. Now all of this could be construed as a brag- but not intended- but merely to show perserverance in one thing at a time will yield much better results than going with the fads.
Exellent advice, sometimes we(myself included) become so caught up in internet,ebay buying we forget about our own local coin shops and supporting our hometowns. |
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Replies: 15 / Views: 2,141 |
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Posted 05/12/2006 03:33 am
