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 Replies: 8 / Views: 1,254 |
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Valued Member
United States
355 Posts |
When you purchase a coin on line do you factor in the shipping as part of what you paid for that coin? i.e. Let say, I buy a 1962-p quarter on ebay, BU condition, I win the bid @ $6.00 but then pay 2.00 to ship. Did I pay $8 for the coin or $6.00 for the coin (which is a good deal, just under melt value in the very least) and $2 in getting it to me. Thoughts? |
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Pillar of the Community
United States
7840 Posts |
Incorporating shipping is usually what I do, especially with on-line auctions.
Edited by oih82w8
07/08/2011 1:53 pm
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Pillar of the Community
United States
716 Posts |
I would say most definitely. If you ever decide to sell your coins, for tax purposes you want to minimize your gains. Adding shipping cost will increase your basis. I guess this all depends if you intend to report your gains to the IRS
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New Member
United States
48 Posts |
Shipping is part of the cost of the coin. It'd be different if shipping was always the same and consistent, but it's not, so you have to factor it in. I think there are some people that don't are about the shipping cost so if you are selling things on ebay, it's good to keep the shipping as a separate charge. I always got hosed when I offered free shipping. |
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Moderator
 United States
188213 Posts |
Personally, I would because it increases your out-of-pocket expense for that coin. Look at it this way... if you did not spend the two dollars to get it to you, then you do not have the coin.  |
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Pillar of the Community
United States
516 Posts |
Yep - I absolutely include shipping as part of the basis. It cost me the cost of the coin plus shipping to acquire that coin... So that's what I paid.
Therefore when bidding, my max bid is the highest I want to go minus shipping.
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Pillar of the Community
United States
3294 Posts |
Quote:
I guess this all depends if you intend to report your gains to the IRS Sure, but why would you want to do that for a single 1962P quarter? |
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Pillar of the Community
United States
716 Posts |
nod 2003--I am not concerned about a single quarter, but, if over the years, you build up an extensive collection and you bought coins from dealers who may or probably do report to the IRS, then it is a good idea to keep records of all your costs associated with purchasing your coins.
Whether you decide to report your gains to the IRS is up to you.
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Valued Member
 United States
355 Posts |
Its interesting to me, because I see a lot of coins won (strictly talking ebay here) with top price bids where the buy would end up paying more for the coin than they should when they add the shipping. Most of what I bid on these days I loose because I include the price of shipping in my target price. It seems there's an inflation of sorts by people doing this. One thing I have been lucky with though however is buying from people who are going through their parents estates or something like that, where they are new to selling so there's a paranoia of sorts about buying from them. I have gotten some really good deals on pre 64 quarters doing this, because I was the only one bidding, I suppose I should be careful doing so...but I message them a lot and ask a ton of questions before I commit. Just my thoughts. |
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Replies: 8 / Views: 1,254 |
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Posted 07/08/2011 1:50 pm
