OK - another stupid question from the newbie

Zulan · July 12, 2004 2:52PM

OK... I am still tuning my BS detector.

Now, I have seen everything on E-bay, from a " 2001 WALKING LIBERTY SILVER DOLLAR !!!" (how the heck did they find that, I want real coins!)

- "Old Coins all Unsearched 100% Silver 1/4 lb + gold LOOK"
- "DESCRIBED BY BUYERS AS THE "BEST ON eBay".
- "125000 UNSEARCHED OLD US COINS"
- "Just think! One ITEM could be worth more than the whole bag you receive!"

Now I may be as green as grass, but is anyone in their right mind going to start firing off "unsearched" (yeah, right) coins into Ebay if there is even the slighest chance that there may be some real coins of value in them? I am right in assuming that these bags are full of low grade common coins, that are pretty cool, but just "junk" coins they are unloading? Has anyone... EVER... who reads this post gotten a coin worth it from these bags???

Zulan

Purple73 · July 12, 2004 2:59PM

Another one is Estate sale or something like that.

Another one I have been picking up on is "Out of mint sewn bags" If you go over to the supplies section of the US coins they are selling these bags empty. They also sell envelopes from old mint sets. "Mint set in original envelope"

There are more I'm sure.

PURPLE!

Smitty79 · July 12, 2004 3:16PM

As far as the 2001 Walking Liberty dollar goes, they are refering to a 2001 Silver American Eagle (I have a 2003 as my avatar). Some numbskulls insist on calling them Walking Liberty dollars cause they have the same obverse design as the Walking Liberty halfs.

lordmarcovan · July 12, 2004 3:19PM

As to the "unsearched coins" auction descriptions, I'd say your BS detector is workin' just fine.

Now we still have to get a metal detector into your hands.

(Edited for the usual late-night tyspo, uh, typos)

zzzz · July 12, 2004 5:53PM

In my lowly but humble opinion, those unsearched bags of Lincoln Wheat Pennies ... Ok .. CENTS .. LOL .. are fine for young nieces and nephews, sons and daughters to go through with their Whitman coin holders in tow looking for the treasure of Kublah Khan ...

Have we found anything in those bags really worth anything ??? Won't know for years to come .. They still have 15,000 to go through ... LOL ...

TayTay · July 12, 2004 5:59PM

add to your list:

L@@K!!!
FOUND IN ATTIC!!!
GRANDAD'S OLD COINS!!!
MS @ $12,000 (when the item is a cleaned, bent, scratched POS)

I like it when they say, "UNSEARCHED" in the title, and in the description say, "We saw 5 steelies, 19 pre-1930, etc.)

<< <i>Has anyone... EVER... who reads this post gotten a coin worth it from these bags??? >>

Save your money

RegistryCoin · July 12, 2004 6:21PM

...Culled coins further culled, and then culled again....
And by that point in time, yes, they probably can be sold without looking at a single coin, in fact, sometimes sold by the pound.

wjd283 · July 12, 2004 6:32PM

I agree with the above posts.I bought an "unsearched"lot and did'nt get squat.
If you're still new to ebay the best advice I could give you would be buy from the BST forum.

Conder101 · July 13, 2004 1:58AM

<< <i>Now I may be as green as grass, but is anyone in their right mind going to start firing off "unsearched" (yeah, right) coins into Ebay if there is even the slighest chance that there may be some real coins of value in them? I am right in assuming that these bags are full of low grade common coins, that are pretty cool, but just "junk" coins they are unloading? >>

Sure. If done right you can make good money that way. For example buy a bag of wheat cents from your local dealer for say $150 and a 1914-D cent in VG for $200 (Coin World Trends value). Mix the 14-D into the bag somewhere and then count them out into one pound lots. You'll get about 35 lots. They seem to be able to sell these on eBay fairly easily for around $20 a lot. Pad the shipping a litle to the tune of say an extra $1.50 per lot.

The results 35 lots at $20 per = $700 plus 35 lots times $1.50 shipping profit equals $752.50 gross, less expenses of $350 for the wheaties and the 14-D, leaves the seller a net profit of $402.50 for very little effort. (If you use a 14-D in Good you can add ANOTHER $100 to your net profit.) Plus the person who gets the 14-D will most likely write back that he got it and you can use this as a testimonial in future auctions that people REALLY DO get rare coins out of your auctions. This will tend to INCREASE the amount people will bid for the lots in your auctions and increase your bottom line even more!

This kind of deal can be done in many different and profitable ways. The key is te let the buyers own greed get the better of him. And don't LIE in your auction statements.

- "DESCRIBED BY BUYERS AS THE "BEST ON eBay". (eventually some buyer will probably say this, especially if he has gotten junk from other bulk lot sellers and then is the lucy one on your auction.)

- "125000 UNSEARCHED OLD US COINS" (Yep 25 bags of wheaties, I didn't search them, I have better and more profitable things to do with my time. . . .like selling them on ebay in one pound lots.)

- "Just think! One ITEM could be worth more than the whole bag you receive!" (Chances are none of them will be but if you happen to get the bag with the good coin in it that coin will propably be worth more than you paid for the bag.)

<< <i>Has anyone... EVER... who reads this post gotten a coin worth it from these bags??? >>

I'm sure that from the more honest sellers some of their customers do get good coins in some of the lots. Most do not. Read their feedback and you will find that most will admit that they got exactly what was promised. Some will be mad about that because they didn't get something for nothing, and some will crow about the good piece they did get.

UncleWiggly · July 13, 2004 2:04AM

Yep! I did find one grab bag auction one time that was good. But the unsearched, maybe you'll be lucky, auctions usually turn out to be, "not this time happenings" Still, once in a blue moon I'll buy one anyway simply because it's fun. I've accumulated about $150 in junk silver the past 4 years.

Jerry

Elcontador · July 13, 2004 2:37AM

Many people on these forums successfully buy and sell coins on E-Bay. Many others have problems. Personally, I wouldn't even think of it as a source for coins. It reminds me of a scenario of being told that there's a $100 bill inside a vat of horse manure. Would you jump into the vat and try to find the Ben Franklin? I'd pass.

RotatedRainbows · July 13, 2004 2:47AM

OK - another stupid question from the newbie

The only stupid question is the one you do not ask! Especially when it costs you money because you could have gained the knowledge for free instead of having to pay for it by making a bad buy.

NoGvmnt · July 13, 2004 3:16AM

"It reminds me of a scenario of being told that there's a $100 bill inside a vat of horse manure. Would you jump into the vat and try to find the Ben Franklin? I'd pass. "

Ohhhh dude, you just reminded me of this true story. I was working at a horse stable (welding a hay wagon) when I watched one of the hired hands (actually I remember his name was Duncan) eat a fresh road apple for $5.00!!! One big bite, chewed and swallowed!!!

I swear it is true.

Jim

Gonfunko · July 13, 2004 3:18AM

<< <i>Many people on these forums successfully buy and sell coins on E-Bay. Many others have problems. Personally, I wouldn't even think of it as a source for coins. It reminds me of a scenario of being told that there's a $100 bill inside a vat of horse manure. Would you jump into the vat and try to find the Ben Franklin? I'd pass. >>

It depends on two things:

1) Is the horse manure dry?
2) Do I have a hazmat suit?

If the horse manure is dry and I have a hazmat suit, then, yes, I would look for the $100 bill. If not, I wouldn't.

OK - another stupid question from the newbie

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