Hesitant To Buy On Ebay - What Would You Do?

SarasotaFrank · January 2, 2003 2:08AM

I've been eyeballing a particular Peace Dollar on Ebay which may not come along very often. Not so much because of it's high grade, but because it is a key date graded at a grade which makes it reasonably priced for me. I have been putting together a set of NGC Certified Peace dollars graded as high as I can reasonably afford, and this particular coin is graded at the minimum for the set - MS60. Probably not a whole lot of them out there.

So here is my dilemma. The exact coin I am seeking shows up, and is available. I figure it will cost me a little over $1000.00, which I would be willing to spend.

The downside is, I'm not sure I want to shoot $1000.00 or so Cashiers check or Money Order off to just anyone. This seller has a 24 feedback with no negs, but why does my gut tell me I can kiss that $1,000.00 goodbye? I would be delighted if someone I buy from or recognize like RCNH or Carolina Coin or Danglen had this coin - wouldn't think twice.

How does anyone else handle this?

FrattLaw · January 2, 2003 2:12AM

With that much money @ stake, I would also be nervous. Have you contacted the seller about sending the $ paypal?

Sometimes, I'll just pass on a coin if there's no protection for the $. Better to risk losing a coin you could find again then risk losing the $ that you will never get back!

Michael

DCAMFranklin · January 2, 2003 2:14AM

E-mail him/her and ask for references. Ask for his telephone number, so you can call and visit awhile. You never know what you may find. We all had to start somewhere.

ara · January 2, 2003 2:16AM

24 feedback with no negs is pretty good. I would also checkout how long he has been a member, take into account if the feedback is as a buyer or seller and how big an amount the transactions have been. If you still don't feel comfortable after that then wait for the next one from somebody more solid.

Twowood · January 2, 2003 2:24AM

Frank; Like you, I'm a small potatoes collector, and I'd also be nervous about investing a grand.
However, It's certified so the quality of the coin is not in question, it's the quality of the seller that's in doubt.
I'd email 6 or 8 of those 24 positive feedbacks (If you can get their email addresses) and discuss their experience with the seller. Good Luck. Twowood

SarasotaFrank · January 2, 2003 2:26AM

looks like about 3/4's of the sellers feedback is as a buyer. WHen I checked his other auctions, I see about 24 items - all coins - ranging in price for about $65.00 to $1600.00 with more than a few three and five hundred dollar items.

I may kick myself if it takes years to find another, but this makes me more nervous than I need to be.

One of my many New Year's Resolutions is to listen to my gut instinct more.

Russ · January 2, 2003 2:28AM

Frank,

Besides the amount of feedback, how long have they been an eBay member and what have their other sales been? If they've been a member for an extended period and their history indicates sales of high dollar coins, it may be worth a shot.

However, if they're a newb and have been selling nickel and dime stuff, there's no way I'd risk a grand.

Edit: You got in while I was typing. I see you've already done the history check. Are those his other current auctions? If so, has he actually already sold anything in this price range?

Russ, NCNE

SarasotaFrank · January 2, 2003 2:30AM

<< Frank; Like you, I'm a small potatoes collector, >>

I'm not 100% sure, but I think I resemble that remark!

I'll have you know I've NEVER, I REPEAT NEVER collected a small potato!

Some cheap coins maybe, but NEVER a small potato!

Actually, I couldn't resist - but I know what you mean. I have yet to buy a $1000.00 coin, and when you read this board and $10,000 coins are being bought like a cans of pop, it makes me scratch my head over the effort I put into my paltry, by comparison, collection.

But hey, I like my coins, dammit - it's just those potatos that make me nutz!

greghansen · January 2, 2003 2:34AM

I think its fine. He accepts credit cards through PayPal. His other auctions include some semi-key and high end items, so this one doesn't stick out like a sore thumb. Plus the coin looks pretty damn good for MS60. NGC has slabbed 33 at that grade and 114 at AU58. The AU58 is going to be about $300-$400 cheaper, but like I say, from the scan this MS60 isn't bad looking. If the rest of your set is MS (which I presume it is) and you really want an MS piece to make it complete, this looks like a nice coin. I really don't think there is significant risk regarding the seller after looking at all things in persepective.

SarasotaFrank · January 2, 2003 2:38AM

greg:

It is a nice coin, and thanks for the pop #'s. This would be the lowest graded coin in the set, and I knew going into this project I would have to compromise on this particular coin, as the others go 63- to a high of 66 for common dates. AU is out of the question, so this won't come around often.

BTW - Greg - have I bought coins from you?

mbbiker · January 2, 2003 2:39AM

<< I have yet to buy a $1000.00 coin, and when you read this board and $10,000 coins are being bought like a cans of pop >>

don't feel bad i've been collecting for about 4 years and the most i could part with for one coin was $44 bucks.

about the coin/seller in question i would say go for it. 24 poz. feedback some were high dollar sales sounds solid to me. maybe e-mail them and ask why they don't take PP.

supercoin · January 2, 2003 2:39AM

He looks ok to me too... use a credit card and pay with Billpoint. Or if you want to buy it from me for $1100 I'll bid $1000 and take the risk for you.

cosmicdebris · January 2, 2003 2:40AM

Frank a rating of 24 with 31 positives would not bother me at all on a $1000.00 coin. I would go for it.

SarasotaFrank · January 2, 2003 2:51AM

I appreciate all of the comments. I did take the time to look at the auctions on which the seller has received positive feedback. It appears, while he has a number of higher ticket items for auction right now, the highest priced item he has sold was $160.00. Now he has a number of items up to ten times more costly up for auction all at once.

Since he has reserves on these auctions, perhaps he hasn't achieved his reserve price on higher priced items, but I've got to start heeding these New Year's Resolutions sometime!

ps: SuperCoin - words can't express my gratitude for your generous offer.

With friends like you, who needs, er, um, friends!

Loki · January 2, 2003 2:57AM

I would use a CC via Paypal. That way, you can reverse the charge on your credit card if you get screwed. Make sure that he has a verified account though.

BIGDAVE · January 2, 2003 3:04AM

SarasotaFrank
i would wait and save to get this one

1934-s

SarasotaFrank · January 2, 2003 3:09AM

<< SarasotaFrank
i would wait and save to get this one

1934-s >>

Dave:

Didja ever notice - we look EXACTLY alike???? Small world, eh?

That is one dandy coin. But it would be an easy way to turn this three or so thousand dollar investment in this set into a ten or so thousand dollar investment. I guess I just have other fish to fry. But I would not mind owning that coin a bit!

I want it, and I'll exert my will power and pass.

BIGDAVE · January 2, 2003 3:19AM

SarasotaFrank
yea i did notice that, but the scary part is i do look like that!!!

Do you plan on keeping the set for the future? if so Then you want that in a much higher Grade , if you are just trying to finish the set and sell , that one is fine, the cost in the long run of upgrading over and over just is not worth it , save up and buy it in the Highest grade possible, heck keep a eye on teletrade you might just get the bargain of a lifetime,

Collector · January 2, 2003 3:19AM

use escrow..i sold a 95W Silver Eagle for 1800 two years ago and works like a charm..costs a few extra bucks but worth the piece of mind.....used the escrow service that Ebay offers and worked fine..no problems..

r,

Paul

wayneme · January 2, 2003 3:42AM

what's escrow..
any way email the seller check him out you never know

Bulldog · January 2, 2003 3:52AM

FRANK,

Your coin is up to $911 and change, with just over an hour to go.

I would have no concern at all. Pay through PAYPAL, Use your Credit Card, or use ESCROW. I would not think that this New Yorker is going to screw you on the deal. Coin looks nice!

Bulldog

Bulldog · January 2, 2003 4:08AM

Frank, look at the freaking S&H that guy gets on cheap coins.

Bulldog

AbesNeighbor · January 2, 2003 4:30AM

Frank,

That's a beutiful coin!! I'd E-mail him and see if your gut feels the same. Talk to him on the phone. Fortunately or unfortunately I've made a number of high dollar sales on E-bay with positive results in receiving the coin every time.

Dan

AbesNeighbor · January 2, 2003 4:32AM

I guess it only takes one!!

SarasotaFrank · January 2, 2003 5:17AM

<< Frank, look at the freaking S&H that guy gets on cheap coins.

Bulldog >>

Dog:

man oh man, now there's a license to steal!

SarasotaFrank · January 2, 2003 5:21AM

update:

Coin went out unsold. If ebay ever gets back up, I may contact the seller.

On the other hand, the high bid was 911.01.

how scary is that? With my luck, I'll buy the coin only to find out it is a front for a terrorist money laundering scheme!

I'm gonna make myself nutz over this!

Twowood · January 2, 2003 6:03AM

<< 

<< Frank; Like you, I'm a small potatoes collector, >>

I'm not 100% sure, but I think I resemble that remark!

I'll have you know I've NEVER, I REPEAT NEVER collected a small potato!

Some cheap coins maybe, but NEVER a small potato!

Actually, I couldn't resist - but I know what you mean. I have yet to buy a $1000.00 coin, and when you read this board and $10,000 coins are being bought like a cans of pop, it makes me scratch my head over the effort I put into my paltry, by comparison, collection.

But hey, I like my coins, dammit - it's just those potatos that make me nutz! >>

Bulldog · January 2, 2003 6:08AM

<----Overnighting a fresh bottle of STOLI to Frank.

Bulldog

Twowood · January 2, 2003 6:10AM

Frank... Boy, I screwed that one up, Sorry.
What I meant to say about the "Small Potatoes" thing was that you and I both share the same problem, we both still think that a thousand bucks is a lot of money!!! Twowood

SarasotaFrank · January 2, 2003 6:17AM

Twowood:

I couldn't resist injecting a little humor. I knew exactly what you meant though.

But while I'm got you here, I need a 39-D Russet to wrap up my Idaho collection - you got a spare?

SarasotaFrank · January 2, 2003 6:21AM

<< <----Overnighting a fresh bottle of STOLI to Frank. >>

AbesNeighbor · January 2, 2003 6:25AM

Frank,

If you can't handle the whole bottle let me know!

Placid · January 2, 2003 6:29AM

You are looking for a ngc 1934-s?

1934-s

DLRC has a ngc ms-60 but it's about $1300.

michael · January 2, 2003 6:43AM

i would try to put it on a credit card or get it on approval if those options are not available then pass

from what i have seen in the coin game the last 35 years or so

tomorrow is another day with a better coin around the corner and less ,money also!

sincerely michael

mr3holesinone · January 2, 2003 7:30AM

Frank, now is the perfect time to contact the seller and see if you can strike a deal. Let him know your concerns and see if he can work with you. When coins don't reach the seller's minimum you can often contact them and work something out if you really want it. Maybe he can give you references or already is someone you'd recognize once you find out who they are. Plus you can bring up the possibilities of paying by credit card or the escrow service that's been mentioned.

We all know the feeling we get once we've passed on something we really wanted, it just gnaws at ya, lol. Well, you can still do something about this one before it gets away. Hope it works out for you.

jamesfsm · January 2, 2003 7:34AM

I like the eBay coin better than the David Lawrence coin. For my 2C, I think that DLRC tends to be a customer service oriented dealer that maxxes out its coins. A DLRC coin, in my opinion, is often on the low end of the spectrum for the grade. If it was high end for the grade, DLRC would have cracked it. Before you say all dealers max out coins, I have to add that is not true. I have bought from at least two large national dealers who seldom seem to crack and submit. Many coins they sell are in older vintage holders and I've upgraded a few. Some dealers like the crackout game and some seem to resist it and sell PQ coins at PQ prices.

sinin1 · January 2, 2003 8:18AM

I agree with mr3holesinone

You can find out what the reserve price is - if they would be willing to go lower without having to relist the coin and/or keep around longer.

Ask them to email larger pictures (most pictures get 'downsized' to fit ebays format) - if they left any question in your mind.

It also gives you another couple days to decide if you really want this coin rather than being caught in the how high do I need to go to snipe this.

Gilbert · January 2, 2003 8:25AM

Hey SarasotaFrank,

I'm a "small potatoes" kinda' guy for whom, a grand IS a lotta' money too.

Here's my suggestion - you say you are comfortable with, you mentioned two or three names; if you are confident they understand your expectations, then simply submit it as a want list (and your expectations) to them, of course informing them of how much you will pay and what you intend to do if it doesn't meet those expectations. If they accept the terms, well, sounds like an agreement that could be honored.

segoja · January 2, 2003 8:28AM

Frank,

Not a really rare coin. I'll bet if you go up to the FUN show, you'll find plenty and can compare them side by side. You may pay another $100, but you'll end up with a better coin. Heck maybe you'll even get a 61 or 62 in a 60 holder. Not sure what the spread is between these grades, but that short trip could pay back.

Collector · January 2, 2003 8:57AM

escrow

here is the link to ebay that addresses escrow services to anyone interested

cheers
Paul

Hesitant To Buy On Ebay - What Would You Do?

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