Purchasing Coins At Lowest Price For eBay Resale

Franklin

I know this question has been posed in the past, but I could use some updated information on the topic. I am retired and have been selling about 20-25 certified coins on eBay each week. I do it mostly for the fun, but of course it would be nice to make some extra income. Can anyone advise me where the best sources are for PCGS or NGC certified coins at prices that are low enough to make a profit selling them on eBay. Thank you very much.

relayer

eBay

BAJJERFAN

I have seen one seller buy his stuff from Heritage and even use THEIR pictures in his eBay auctions starspan or starspan1 something like that
WELCOME aboard

Placid

Welcome to the forums.

michael

welcome to the forums

well that is a great question that many others would pay a small forture for the right answer

there is no easy answer to this but i will give you a reasonable answer

i guess if there was an easy answer i would not be here right now but putting all my fortutitus buys on ebay right now

i guess you could go to many smaller shows and with extremely specialized numismatic knowledge combined with knowing what is currently hot in the coin market as to the specific coin the slab that it is in and the grade you might be able to cherry pick some coins already in ngc/pcgs slabs and then put them on ebay with really good photos taken by yourself with an interesting description of why this coin is better than others of the same graded and date and service and be truthful about that it is a really special coin to being with i guess you could do really well on ebay

but that means going to smaller local coin shows scouting dealer shops knowing the right collectors
having specialized numismatic knowledge and knowing what is currently hot and having excellent photographic skills then you have a good chance to do well in fact really well on ebay

michael

Deadhorse

Welcome to the boards.

Follow a few rules and you will do fine here;

1)Praise PCGS and always rate them over any other coins out there.

2)Despise bullion and join the ranks of those taking glee in it's price drop whenever possible.

3)Never forget rule number 1.

4)Always agree with certain well known posters and follow the mindset of the pack. Yes, I am sometimes a little sarcastic, but also realistic.

5)Remember, never forget rule number 1.

In answer to your question, I think that is the magic question that applies to all businesses. Study hard, decide if you want to deal in mid range or high end coins. Stay with one or the other untill you feel comfortable. Most board members are great people and will always be willing to give a helping hand and an opinion when asked. Don't expect to get rich quick and be carefull of risk taking. Never put more money into anything than you can afford to lose, the market can and does rise and drop, sometimes with no seeming reason behind it.

Study, study and study some more. Stick to coins you are comfortable with. Check the odd places out like the occasional pawn shop and flea markets. There are still bargains to be found on eBay, it just takes time. Check the BST board here, members are usually quite fair with their prices to other members, at least that's been my experience.

Buy a copy of the Cherrypickers guide for some long and boring, yet educational material. Take a break away from coins every so often and don't lose sight of what is really important in life. Here's a hint, it isn't coins.

Good luck. Again, welcome aboard and don't forget rule number 1.

dorkkarl

why not sell un-certified coins? much lower cost for you.

K S

MICHAELDIXON

Welcome to the boards! Turn on your PM function or send me an e-mail.

kieferscoins

Gonna pm him a deal mike after I have been begging you for one?

Cameron Kiefer

MICHAELDIXON

Cameron,
I'm gonna send him A L L your sources!!!!

BAJJERFAN

<<"why not sell un-certified coins? much lower cost for you.">>

why would you waste your time selling these on eBay unless yu get them for free or want to make little or no money.

DrWho

My guess is that the dealers will concur, you need to work at it. Spend lots of time to find the raw material, lots of time. Live auctions, internet auctions, estate sales, garage sales, shows, friends and lovers, ad's in newspapers, whoever whatever. you'll need to spend a lot of time on it, as in work at it. There IS NO easy answer, other than hard work, and a bit of luck.

Kriek

<< <i>... seen one seller buy his stuff from Heritage and even use THEIR pictures in his eBay auctions >>


Yeah, starspan.

dorkkarl

<< <i>why would you waste your time selling these on eBay unless yu get them for free or want to make little or no money. >>

dude read what he said. "I do it mostly for the fun".

someone can't have fun w/ coins unless it's slabed coins???

K S

Russ

<< <i>dude read what he said. "I do it mostly for the fun". >>



Dude read what he said. "but of course it would be nice to make some extra income."

Franklin,

Welcome aboard. Are you another Frankie collector?

Russ, NCNE

mrdq

If it was easy everyone would be doing it.

If it was easy AND lucrative everyone here would be doing it.

dorkkarl

profit appears to me to be his 2dary motive to "having fun". i still say he can drum up plenty of fun w/ raw coins

K S

MSD61

I must admit it would be a fresh change to see some nice raw coins up at ebay. I mean if the coin world goes to nothing but slabbed coins what will be left to send in to be slabbed??

Edited to add: Oh yeah that's right, There will be plenty of CRACK OUTS to submit

BAJJERFAN

profit appears to me to be his 2dary motive to "having fun". i still say he can drum up plenty of fun w/ raw coins

most will tell you that raw coins over $100 are difficult to sell on eBay and of those that do sell even the ones that are legit usually sell for way less than what they would slabbed.

jbsteven

<< <i>most will tell you that raw coins over $100 are difficult to sell on eBay and of those that do sell even the ones that are legit usually sell for way less than what they would slabbed. >>



I agree 100%

dorkkarl

uh, ok, it sounds like a no-brainer then. buy all the raw coins on ebay that are for 100 bucks. worst case, get 'em in anacs slabs & makes oodles of $$$!

K S

Geoman

WELCOME!!!

There really is no answer for your question. If there was a sure-fired way to guarantee a profit, more people would be doing it. I talked to a younger coin dealer at a recent show, and he told me that he gets most of his certified material off of eBay, and sells it at shows for a profit. So, he is basically saying that eBay is the cheapest place to buy from. So to try and make a consistent profit on eBay, when it is the cheapest place coins sell for, is tough.

But, you can still try. I personally have been able to find a few good deals here and there, and bought only when I knew what the closing prices were on eBay. For example, I got lucky, and was able to purchase 10 common date (1980's and 1990's) PCGS PR69DCAM Kennedy's for only $9.99 each, and only $1 shipping each. I also know the lower average on common date PCGS PR69DCAM's is between $18-$22. So I will realize a profit there. However, there have been times when I have bought with resale in mind, and lost money, when I thought I would make a profit.

But it is fun trying it. Good luck.

braddick

Two ways that seem to work: Most major auctions, such as Heritage, offer auction lots in the back of their catalogs. Many times these lots will offer coins that when presented on eBay as singles, pay for the full lot. The extra coins sold in that lot are then mostly profit.

Secondly, Teletrade and eBay don't completely overlap. There are Series that do well on Teletrade that do not on eBay and vice versa. Learn what Series these are and offer them up for auction on the other service. Teletrade will take a goodly chunk of your profit, but if played correctly, opportunity awaits and you can do well overall.

Don't look at your profits on a coin by coin basis, instead look at what you've done for the week (or, month). Some coins you may break even, others you'll be amazed gain you a 100% profit.

Also, once you're really having fun, look at your new purchases as a chance for an upgrade. Some upgrades are not worth it (MS65 steel cent to MS66, for example) while others offer a wide swing in percentage and is worth the gamble.

Just stay focused and have fun! Win or loose, you will then really always come out ahead.

Colorfulcoins

As Dorkkarl has noted, nothing wrong w raw coins.....BUT, ebay buyers are more likely to return raw coins.....it really depends upon how good of pictures you take, and how accurate you are in describing the coins. Even then, you will get returns where someone makes up some reason for returning. If you won't accept returns, get ready for neg's......there's plenty of idiots on ebay!