Thoughts on eBay built collections, culture and sentiment

Aspie_Rocco

What are your thoughts on eBay? How has it impacted your hobbies and collecting?

Here’s my thoughts...

After reading so much here I have painted a picture in my mind of the collectors and the sort of class of collecting they do.
Represented here are Collectors from raw coin roll searchers all the way to the likes of TradeDollarNut.

I imagine Different “cost of collecting” levels. Some coins are simply wildly impractical to impossible to own for the average collector. A single specimen or a complete set. It is the “Hobby of Kings” but even beggars “collect” change. We all are a piece of the puzzle here at CU.

I see a lot of talk regarding eBay, pro-con, plenty of dealers, sellers, buyers, people who update us on deals and ebucks, and people who write disparaging remarks about flea bay and it’s customers. Tales of victory and defeat from many; I have have my own as well.

I feel sort of like I am in a unique category of collecting and registry participation. I have never been to an actual coin show. I have never used heritage or any other auction house in person or online. I am under age 38. I have a conservative estimate that 90% of my PCGS Coins came from eBay. The rest came from trading with folks here and other top registry nickel guys.
I Did Not want to say this next sentence out loud or write it in public. I am still ahead of Hansen in a few categories! Probably only Until he figures that out.

Granted I am primarily a “Modern” collector and I don’t actively collect graded gold or pre 1900 coins, except Morgans. This puts me in a generally lower cost collecting group. Basically I cannot buy a house with the proceeds of liquidating my entire coin inventory... Yet.

Buying on eBay has been educational over the years. 10 years ago I sold DMPL Morgan for $80 and thought that was clever, while selling collectable novels, comic books and rare Lego on eBay and Amazon as a hobby. Last year I sold enough to get two tax forms from paypal. Now it’s mostly Pcgs Coins to perpetuate this coin addiction, and that it is mostly leftovers, varieties I picked and random coins I am over. Still just a side thing to justify all the incoming eBay packages. I recycle the bubble mailers I get in the mail and send them to my customers with occasional freebies and bonus coins. Environmentally friendly but less than debonair.

Without eBay I would only have the one decent local store, and I would still be collecting raw coins in Dansco albums. I would still chuckle at the thought of spending more than $200 for ANY coin that was not gold.

I do consider myself a much more serious collector now, except when I see people spending over $1,000 on NON-Variety nickels, then I feel like I am still just roll searching for blacked “war” nickels and silver quarters/dimes/halves

In this digital age of social media and electronic auctions, the internet and google, it is a new frontier for collecting. Sites like variety vista and coin facts for photographic research and comparisons. Instant knowledge of almost anything has improved the ability of everyone to do online searches. I personally do not do any social media outside of this site and an “Aspie” forum. I have read of Facebook coin dealers and other unique modern methods for collectors. So with the internet functioning in the capacity of being our “Wild West” there is a cornucopia of e-opportunities, and eBay helped me explore that.

Thanks for reading. One day, perhaps I will get down to Long Beach and see a real coin show. Best wishes,
Rocco

What are your eBay thoughts?

1Mike1

Nice write up.

jmlanzaf

First of all, it is NOT the "hobby of kings". That term is applied to philately

Pedzola

I am a new collector. Ive been losing money on bullion coins for a decade, but only recently started purchasing anything of numismatic value. Ebay is my #1 source. There are both good and bad sellers and deals. If you are selective, dont fall for misleading pictures, and take advantage of the occasional deal, it can be a great resource. For me, high res photos provide more detail than I can see holding a coin in my hand. Purchasing online i can get exactly what im looking for with much less effort and more confidence than browsing a dealers case.

I would also note that pcgs coinfacts and cert verification apps are phenomenal tools and help immensely determining a legit coin and good deal.

ricko

I have purchased coins through ebay....usually fair deals, occasionally a really good deal. Never had to send one back. In the past, my primary sources were coin shows and private deals - but no shows here and I do not know any local collectors. So I do scan ebay when seeking specific items. Cheers, RickO

WaterSport

When eBay first arrived in my living room about 2001, I was in awe. I grew up knowing only 3 ways to collect – roll search, buy from magazines, or visit local shops which at the time were about 7 in the DC area. But they never seem to have what I needed, or at a price I agreed with.

The thing that struck me about eBay was that I could find darn near any cent in any condition. Something none of my other 3 opportunities provided. I still remember my first purchased -a 1922 D cent in 63 R&B. Probably paid $8 for it.

I search eBay every night. If you look at my registry sets I would say a majority of my collection was bought off eBay. But like you said – you have to educate yourself first. The things that stand out most for me is the inability to sell low end coins at a profit. Truth is I am more likely to put the coin back in circulation than to take pictures, post, wait, lose money, etc. This also matters because it begins to cut off small budget buyers. I think the eBay stores – specifically for coins – is a joke. It is de-motivator for wanna be dealers to list stuff only once and never lower prices to move merchandise. The seller under the name “answers to life” is a prime example of listed once – over a year ago – and the coins are just re listed week after week too overpriced to sell with horrible pictures. I think eBay should get into merchandise counselling if they really want to get the crap sold and make money for themselves. At least do something to push the tons of crap that lingers month after month. Over 10 years ago I actually kept tabs on monthly cent totals. In the summer, the month listings averaged about 8,000 and in the winter it would go up to 11,000. I just checked today – 166,770.

So eBay is not my go to sell spot any more. But it is where I buy and since I am only cherry picking its better than a show as I can take my time and not get a seller suspicious of what I am doing. And that’s a good thing.

WS

SiriusBlack

I still rely on my local coin shop and a couple purchases on these boards. I use eBay a lot for work and know it very well, but I just don’t have a good grasp of values and conditions yet for coins. I find coins that seem like good deals to me so I watch them and they just sit and sit. Apparently no one else thinks they’re a good deal so then I have to figure out what am I missing that everyone else sees! I’m learning, slowly.

I’d like to go to Long Beach too at some point, I’m in Orange County so it’s not far.

CommemKing

I browse and use ebay every day. I have found most the coins in my collection on ebay. I rarely, if ever, attend shows so this is my primary source for coin viewing and buying. I do use my local dealer and dealer websites, but ebay is my main source for buying. I have found a lot of deals this way, but those deals are dwindling. There are far too many of ebay sellers out of touch with the reality of the coin market as they demand very high and ridiculous prices. I like the "Buy it Now" feature. Its like a huge coin shop with and endless supply of coins. You cant beat it.

topstuf

If you look at the seller location in the listings you can often find their "real" website and find more selection and better pricing.

Swampboy

First of all coin collecting is not to be confused with the 'sport of kings'.
That title belongs to horse racing and, to a lesser degree, falconry.

Your post reminds me of something I read here posted by departed forum member @Russ...

"If you buy coins off eBay and never return one you'll soon have a pretty sorry coin collection"

Aspie_Rocco

@Swampboy said:
First of all coin collecting is not to be confused with the 'sport of kings'.
That title belongs to horse racing and, to a lesser degree, falconry.

"If you buy coins off eBay and never return one you'll soon have a pretty sorry coin collection"

This can be true. I have returned several coins purchased through eBay. I dislike being “that guy” sending stuff back, so I usually throw a few dollars in the package to defray the sellers shipping/ time/ and fee expenses.
Sometimes when the pictures are bad or blurry you just can’t see how good or bad it really is.
My most valuable cherry pick ever was off eBay, with a terrible picture and slightly high market price. It turned out to be a gorgeous toner and finest known 1939 DDO.

BryceM

I was a much bigger eBay player in the early period of my reintroduction to coin collecting. It seems to be well-suited for coins in the $50-$300 range. For more expensive coins, I now prefer to do my buying directly from dealers or from auctions where I've either seen the coin or have obtained an expert opinion on the coin (or both).

I'm more picky now and I probably carefully look at a couple dozen candidates before pulling the trigger. That's tough to do on eBay, but not so difficult at shows, lot viewing, and when working with dealers.

I do still use eBay to locate the less expensive coins needed for my Registry sets (Pres bucks for a dollar type-set, for example). I used to sell a lot on eBay, but that was back when it was easier and there were fewer sharks in the water.

Kkathyl

Great write up Rocco. I think as much as we all complain about E-bay it has certainly been able to expand offering to many people like myself. I like the wheeling & dealing from my phone and of course the hunt. I have never returned anything outright but I did get ripped off once not big bucks. They did refund me so I appreciate that. Many who jumped on the wagon early made some good money. Its harder now, but I do like to shop for coins even if I lose 80% of the bids The China fakes need addressed.

asheland

I have found some great stuff on ebay!

bugbit

Great write up! I used to be on ebay all the time. Buying and selling. I still use it as a tool for recently sold prices. As far as building my collection through ebay, I do, but not often. I'd much rather buy from a local shop, a couple of contacts that I trust, or shows.

Babboonbobo69

Most of mine too come from eBay but not all. Some from contacts here and other local persons. I have bought many coins on eBay and returned some. I’m still waiting on one to be returned as it arrived with the PCGS holder smashed to pieces! Thank you USPS!! Been waiting for seller to return it to Pcgs for reholder sevice. I hope it gets done soon as I really want it back as it’s a gorgeous coin.

BillDugan1959

I have found great and exceptionally good coin stuff on eBay, although more in the realm of World Coins than in U.S. Coins. 15+ years ago, there was a bonanza of great Mexican stuff.

I just don't understand and don't buy into all the bitching about eBay. It's been a great great resource for me.

Walkerfan

I have found a lot of great stuff on eBay. Two of the best coins in my collection came from eBay. One must be diligent and persistent.