Interesting shift in eBay US Gold Coin sales strategy
I like to check the new listings on eBay to see what new $10s and $20s gets listed. Over the past 90 days I have noticed two major changes: (1) Gold prices on eBay are now well over the PCGS guide price; and (2) Ebay Sellers, even the regulars who have been selling for the years, have shifted decidedly away from using the "buy it now" format in favor of the weeklong auctions with a high starting price.
With respect to the first item, the high prices, I would want as much as I could get too if I were selling. The second development, the shift away from listing a "buy it now" price in favor of the weeklong auction format with a high starting price has me scratching my head. The reason, these auctions seem to roll over week after week, and the lack of a "buy it now" option narrows the possibility of the low hanging fruit of an impulse buyer.
I saw a $10 two weeks ago that I would have purchased in a "buy it now" setting, but that wasn't an option. I even meant to bid in the last minute (the only time to bid unless you want to invite a bidding war), but due to a dinner party, I was unable to log on before the auction expired. Coin didn't sell. Coincidentally, a similar $10 with a lower starting bid that popped up the following week, so I waited out that weeklong auction and was the sole bidder in the final seconds.
So those are my observations of what appears to be a shift in how US gold coin sellers are approaching eBay sales.
*Edit to say I am looking at PCGS graded $20 in MS65 (1909s, 1913d, 1914d, 1916s) or MS64 (1912 or 1920), so while not rare, not a pure bullion play.