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Why is this generic $700 coin bringing $800+ on ebay?
roadrunner
Posts: 28,374 ✭✭✭✭✭
Generic PCGS MS63 1924 $20 Saint Gaudens
Sometimes ebay baffles me. Above is an auction for an average looking 63 saint, not in an early holder, not PQ+ looking. Yet, it has been bid up to what MS64's have been bringing. It's great that the seller has 100% +FB and has been selling on ebay for 4 years. But is that a reason for the 15% premium to retail? A more seasoned buyer is the high bidder. Doesn't appear to be shilled up. There are some newbie bids sprinkled in but not enough for me to question the auction.
Is this a new tactic I'm not aware of? I'd be happy to sell some PQ+ crackout quality, first gen PCGS 63's for a lot less than the $802 this coin is fetching so far. What gives?
Comments?
roadrunner
Sometimes ebay baffles me. Above is an auction for an average looking 63 saint, not in an early holder, not PQ+ looking. Yet, it has been bid up to what MS64's have been bringing. It's great that the seller has 100% +FB and has been selling on ebay for 4 years. But is that a reason for the 15% premium to retail? A more seasoned buyer is the high bidder. Doesn't appear to be shilled up. There are some newbie bids sprinkled in but not enough for me to question the auction.
Is this a new tactic I'm not aware of? I'd be happy to sell some PQ+ crackout quality, first gen PCGS 63's for a lot less than the $802 this coin is fetching so far. What gives?
Comments?
roadrunner
0
Comments
Sorry, continuing to flip thru ebay and I had to post this ridiculous sale. It caught my eye that a PCGS MS64 $10 gold piece was still only going for $580 with a few hours to go. Generics fetch over
$1300. The description clearly says "PCGS MS 64 value." You don't see the coin in a PCGS holder. The description mentions that you'll get the pictured MS63 coin, but that it could actually be a 64 worth thousands more. Off to the far right there is a tiny scan showing an
NTC label in small print. I could barely even read it. It's a MS64 NTC label. So you're looking at a probable cleaned AU-MS62 piece of trash that the seller is hoping to get MS63 money for...which so far it appears he is. Feedback of 98.5% is not a good sign.
roadrunner
Stupid money.
The best part is, if they happen to you... and pay without problems!
Go figure. Maybe that's why Barnum is on the Bridgeport Half.
He is a constant reminder as to the reality of the market.
roadrunner
EBAY Items
http://search.ebay.com/_W0QQsassZrlamir
<< <i>I never get any "dumb" people to buy from me. I don't ever give them a chance to show their stupidity. >>
Give it time, I had a 6 feedback Ebayer bid two common morgans ($44 CU price at the time) to $103 each in the final minutes and make prompt payment for both. The wild thing was the runner up (same person on both) had an extensive positive history on EBay. Perhaps they were a rare Vam or they just got caught up in the frenzy? Your time will come to be rewarded for all the goose eggs.
I'm far more apt to sell something underpriced at a show. And I do it fairly regulary. My own fault of course. It's one reason why I often give my coins to others to sell because they often get more money for them from other dealers than what I would have settled for.
roadrunner