Attempting a new era in my coin hobby life...Live Podcast Tonight! Discussion

joeykoins

Hi guys,
In a word, "Ebay!"
Lol, yes my friends. For the first time, I have decided to be a seller on the Bay. In the past, I have been a buyer but not a seller. Trying to liquidate my inventory the best, quickest and easiest way. Despite all the issues I will face. Fees, uncooperative members and/or any other wrenches that might be hurled at me. Lol. I have tons of coins to sell. From varieties/errors to beautiful BU coins, as well. Including some of the BEST and interesting foreign coins too.
I'm going to start off with my latest cool 2023p Bessie Coleman error!
First of its kind. I searched through Ebay and so far, nobody has my error listed.
What do you guys think about me starting this new endeavor in my life?
Thanks 😊

2023p Bessie Coleman

Strike Through "Burning Plane"

johnny9434

wow, engine problems already. thats interesting

291fifth

Sell, sell, sell!!!

bagofnickels

I started selling my duplicates and stuff I no longer wanted on eBay about a year ago. I haven't had many issues really. I just try to maintain a solid level of transparency in my listings. Wishing you good luck in your endeavor.

jesbroken

You go, Joey. Been selling since 2004 with very minimal problems.
Jim

alaura22

Good luck
Why don't you post someting here on the BST taking requests for coins that people want.
I know I'm looking for a lot of coins and maybe you would have some of them

Jzyskowski1

Good luck Joey.
All the best on your new venture. I’m sure you will do fine.

JW77

Please no, Not the Chunky Monkeys

ironmanl63

Best advice I could give is if you want top dollar take the best photos possible. If you are using the photos above you will leave money on the table. Good luck!

joeykoins

@291fifth said:
Sell, sell, sell!!!

Trying, Trying, Trying.

Walkerlover

@ironmanl63 said:
Best advice I could give is if you want top dollar take the best photos possible. If you are using the photos above you will leave money on the table. Good luck!

I am surprised at the poor quality pictures people post on EBay. How do they expect to sell their coins. Although some people I believe purposely use blurry or off lighting to disguise flaws and other issues that their coins have.

joeykoins

Thank You ALL for the great support and advice.

Placed 2 items up already.

Both 2023p Bessie Coleman quarters

Mr_Spud

Good luck, I like the burning plane nickname

goodmoney4badmoney

Good luck on your endeavors. I sold off 98% of my holdings several years ago. I recently got into paper currency collecting and I’m having a great time, change is good sometimes.

JW77

@joeykoins said:
Thank You ALL for the great support and advice.

Placed 2 items up already.

Both 2023p Bessie Coleman quarters

inform us on some of your EBAY posts with us on BST so we can check them out!

Jimnight

It's easy, stay honest and you'll do just fine.

ms71

Keep detailed records. Come early next year, you'll be getting a 1099 form from ebay totaling all your 2023 sales if they come to more than $600 for the year.

joeykoins

@ms71 said:
Keep detailed records. Come early next year, you'll be getting a 1099 form from ebay totaling all your 2023 sales if they come to more than $600 for the year.

Thanks for the warning ⚠️

I hope I pay a ton in taxes. That will mean I sold plenty!

pmh1nic

Good luck.

lkenefic

Best of luck! I've been an on-again off- again seller on ebay for quite some time with minimal issues...

ricko

@joeykoins... Best of luck in your new endeavor... Next step, open your own coin shop and establish yourself as a dealer. Cheers, RickO

Catbert

@ricko said:
@joeykoins... Best of luck in your new endeavor... Next step, open your own coin shop and establish yourself as a dealer. Cheers, RickO

I’m thinking a coin and coffee shop next to a friendly CRH bank! Trifecta!

crazyhounddog

@Walkerlover said:

@ironmanl63 said:
Best advice I could give is if you want top dollar take the best photos possible. If you are using the photos above you will leave money on the table. Good luck!

I am surprised at the poor quality pictures people post on EBay. How do they expect to sell their coins. Although some people I believe purposely use blurry or off lighting to disguise flaws and other issues that their coins have.

I 100% agree with that statement. I see people showing coins for sale that are just enough out of focus you can’t see what you’re looking for. I pass on those coins every time, especially when their feedback shows unhappiness with prior sales. Yes, take the very best pics you can. It makes all the difference in the world.
Good luck with your new venture my coin brother. I’m rooting for ya,
Joe

Namvet69

What's the link to your site! Gotta save you as a seller. Good luck. Peace Roy

Barberian

Good luck with eBay sales. Post some of your progress in this endeavor.

Project Numismatics

I find selling on eBay to be pretty enjoyable and hope you will as well.

In my experience so far, there are far more awesome customers and sellers on eBay than bad apples. People have written me notes, sent me free coins and been incredibly understanding the few times I have messed up. I’ve had 2 bad experiences so far and haven’t lost money as a result of either.

Good luck and have fun!

joeykoins

My Ebay name,

jo-205707

Thanks

winesteven

I suggest you keep the following in the back of your mind: After a while, to avoid the hassle, fees, shipping expenses, etc., of eBay selling, consider sending a bunch of coins to GC. Yes, for coins selling for less than $1,000 you’ll get hit with a 5% fee and you’ll get just the hammer price, which buyers usually reduce to take into account their bp. So if it costs you 15% overall, that’s not too different than what you’ll incur on eBay when you take into account your shipping fees and supplies. You’ll save a ton of time, and your time has value. You’ll also avoid the risks of the occasional crazy or sleazy/crooked buyers.

Just a thought.

Steve

dhikewhitney

“What do you guys think about me starting this new endeavor in my life?”
Good idea as long as you don’t expect to profit (much) by it; liquidate at broad public auction market price and pay fees and shipping cost (plus time packaging and shipping).

jmlanzaf

@winesteven said:
I suggest you keep the following in the back of your mind: After a while, to avoid the hassle, fees, shipping expenses, etc., of eBay selling, consider sending a bunch of coins to GC. Yes, for coins selling for less than $1,000 you’ll get hit with a 5% fee and you’ll get just the hammer price, which buyers usually reduce to take into account their bp. So if it costs you 15% overall, that’s not too different than what you’ll incur on eBay when you take into account your shipping fees and supplies. You’ll save a ton of time, and your time has value. You’ll also avoid the risks of the occasional crazy or sleazy/crooked buyers.

Just a thought.

Steve

There's also the set up charge. So for coins under $100, the cost is 20%. EBay costs with a store are under 9%. FWIW

winesteven

@jmlanzaf said:

@winesteven said:
I suggest you keep the following in the back of your mind: After a while, to avoid the hassle, fees, shipping expenses, etc., of eBay selling, consider sending a bunch of coins to GC. Yes, for coins selling for less than $1,000 you’ll get hit with a 5% fee and you’ll get just the hammer price, which buyers usually reduce to take into account their bp. So if it costs you 15% overall, that’s not too different than what you’ll incur on eBay when you take into account your shipping fees and supplies. You’ll save a ton of time, and your time has value. You’ll also avoid the risks of the occasional crazy or sleazy/crooked buyers.

Just a thought.

Steve

There's also the set up charge. So for coins under $100, the cost is 20%. EBay costs with a store are under 9%. FWIW

Thanks. I seem to recall with eBay that sellers that offer free shipping and free returns do better with sales than those that don't. Building in the cost of shipping and the supplies to a coin under $100 might make the fixed price offer less competitive. Does the 9% include shipping charges? Supplies? What would your estimate be the additional monthly store cost to be for a low volume seller?

I believe he should indeed give eBay a shot. That's why I suggested he keep the so much simpler alternative in the back of his mind. My guess is the rate of returns on eBay when they are allowed is a lot higher than the rate of returns at GC. GC is absolutely no hassle, and a great time saver. We each decide for ourselves the value of our time. After a period of time, he will decide for himself, just as I decided for myself.

Steve

jmlanzaf

@winesteven said:

@jmlanzaf said:

@winesteven said:
I suggest you keep the following in the back of your mind: After a while, to avoid the hassle, fees, shipping expenses, etc., of eBay selling, consider sending a bunch of coins to GC. Yes, for coins selling for less than $1,000 you’ll get hit with a 5% fee and you’ll get just the hammer price, which buyers usually reduce to take into account their bp. So if it costs you 15% overall, that’s not too different than what you’ll incur on eBay when you take into account your shipping fees and supplies. You’ll save a ton of time, and your time has value. You’ll also avoid the risks of the occasional crazy or sleazy/crooked buyers.

Just a thought.

Steve

There's also the set up charge. So for coins under $100, the cost is 20%. EBay costs with a store are under 9%. FWIW

Thanks. I seem to recall with eBay that sellers that offer free shipping and free returns do better with sales than those that don't. Building in the cost of shipping and the supplies to a coin under $100 might make the fixed price offer less competitive. Does the 9% include shipping charges? Supplies? What would your estimate be the additional monthly store cost to be for a low volume seller?

I believe he should indeed give eBay a shot. That's why I suggested he keep the so much simpler alternative in the back of his mind. My guess is the rate of returns on eBay when they are allowed is a lot higher than the rate of returns at GC. GC is absolutely no hassle, and a great time saver. After a period of time, he will decide for himself.

Steve

Store cost is a flat $23 per month. You also get $100 in free shipping supplies per year for that cost, so it's very reasonable. If you have Top Rated Seller discounts, the fee is under 8%. I would also add that for bullion eligible coins, the fee is 4% above a certain threshold. I sold a gold coin for $3250 this weekend for a total eBay fee of $130.

Personally, I think shipping is irrelevant. When i bidv on a $50 coin at GC, I keep the $5 shipping fee in mind when bidding as well as the BP. For more expensive coins, the cost of shipping is av tiny percentage of the cost. For example, the $3250 coin cost $30 to ship via registered mail.

I would never say that all coins should go to eBay just as I would never say that all coins, not even an auction coins, should go to GC. Placement is important. I've bought coins from Heritage, Stacks and GC and immediately sold them on eBay for a profit (offering free shipping). You could also do it in the other direction. There are coins you could buy from GC and sell at Stack's or Heritage for more money.

There are also times when it is better to just sell it to a dealer. This is especially true of bullion items, but can be true of other widgets like common date circ Morgan dollars. The bid/ask spread is much lower than any seller's fees in any venue.

Learning where to sell certain items is an important part of successful dealing.

I haven't seen Joey's entire collection. However based on what he posts here, I see very little that would be worth sending to an auction house. But i could be wrong.

winesteven

Many good points.

Thanks for taking the time.

Steve

JBK

When you sell your YouTube winnings on ebay you will need to establish a cost-basis for the IRS since you'll likely be getting a 1099K form.

Will you report the cost basis as the cost of the specific "race" that you won it in, or will you include all the money spent on unsuccessful "races" as well?

joeykoins

vplite99

Your listings look good, good luck!

2windy2fish

Please correct me if i’m wrong but i thought GC will only sell certified coins?
Or the will get them certified for you..

WQuarterFreddie

Good luck. Be prepared that Ebay will hold your money hostage for over 2 weeks even after your item has been received and positive feedback has been posted by the buyer🙄

Steven59

When you start coming up with names to describe the minting process errors it's time to take a break -

jmlanzaf

@WQuarterFreddie said:
Good luck. Be prepared that Ebay will hold your money hostage for over 2 weeks even after your item has been received and positive feedback has been posted by the buyer🙄

Huh? I get my money in 24 hours. Always...well, except weekends. What are you referring to?

WQuarterFreddie

@jmlanzaf said:

@WQuarterFreddie said:
Good luck. Be prepared that Ebay will hold your money hostage for over 2 weeks even after your item has been received and positive feedback has been posted by the buyer🙄

Huh? I get my money in 24 hours. Always...well, except weekends. What are you referring to?

New sellers get punished...I understand the need to protect the buyers but once tracking documents delivery and the buyer posts positive feedback those funds should be immediately released off hold but they are not...Joey will find this out.😎

I feel it's a money grab by Ebay holding customer's money for interest or cash flow purposes. 😤

vplite99

@winesteven said:
I suggest you keep the following in the back of your mind: After a while, to avoid the hassle, fees, shipping expenses, etc., of eBay selling, consider sending a bunch of coins to GC. Yes, for coins selling for less than $1,000 you’ll get hit with a 5% fee and you’ll get just the hammer price, which buyers usually reduce to take into account their bp. So if it costs you 15% overall, that’s not too different than what you’ll incur on eBay when you take into account your shipping fees and supplies. You’ll save a ton of time, and your time has value. You’ll also avoid the risks of the occasional crazy or sleazy/crooked buyers.

Just a thought.

Steve

The OP does not sell GC material.

tommy44

I wish you success on your new endeavor Joey. I've been selling all kinds of things including coins on eBay since 1997 and find the overwhelming majority of buyers as honest folks. Once you get the hang of it it's a piece of cake. Almost as much fun seeing who buys what as is was buying the stuff in the first place.

joeykoins

I want to Thank All of you guys!
Really, thanks.
Here are 2 more new items I presented, if not aware or care? Not selling here, just showing.

1964p

ms 66

1979s

pf.68DCAM

winesteven

@vplite99 said:

@winesteven said:
I suggest you keep the following in the back of your mind: After a while, to avoid the hassle, fees, shipping expenses, etc., of eBay selling, consider sending a bunch of coins to GC. Yes, for coins selling for less than $1,000 you’ll get hit with a 5% fee and you’ll get just the hammer price, which buyers usually reduce to take into account their bp. So if it costs you 15% overall, that’s not too different than what you’ll incur on eBay when you take into account your shipping fees and supplies. You’ll save a ton of time, and your time has value. You’ll also avoid the risks of the occasional crazy or sleazy/crooked buyers.

Just a thought.

Steve

The OP does not sell GC material.

Ok, I did not know that. I thought he’s selling slabbed coins, and I also thought that GC accepts those.

daltex

@joeykoins Are you selling fixed price or auctions?

GiveMeProof

A lot of errors on those Bessies. Are they true DDO and DDR or machine doubling? Can't find Joey, link please?

jmlanzaf

@GiveMeProof said:
A lot of errors on those Bessies. Are they true DDO and DDR or machine doubling? Can't find Joey, link please?

https://www.ebay.com/usr/jo-205707

jmlanzaf

I think Joey is about to find out the limited interest in named minor strike through.

jmlanzaf

@daltex said:
@joeykoins Are you selling fixed price or auctions?

Both

jmlanzaf

@winesteven said:

@vplite99 said:

@winesteven said:
I suggest you keep the following in the back of your mind: After a while, to avoid the hassle, fees, shipping expenses, etc., of eBay selling, consider sending a bunch of coins to GC. Yes, for coins selling for less than $1,000 you’ll get hit with a 5% fee and you’ll get just the hammer price, which buyers usually reduce to take into account their bp. So if it costs you 15% overall, that’s not too different than what you’ll incur on eBay when you take into account your shipping fees and supplies. You’ll save a ton of time, and your time has value. You’ll also avoid the risks of the occasional crazy or sleazy/crooked buyers.

Just a thought.

Steve

The OP does not sell GC material.

Ok, I did not know that. I thought he’s selling slabbed coins, and I also thought that GC accepts those.

He has 2 slabs listed but they are the under $50 variety.