How has your coin selling been going since you've gone to Ebay? Please share your experiences, good

coinguy89

I'll be first to share mine. It was this year. I first did not sell coins. But realized I had to get rid of my problem coins or coins that I was no longer collecting to benifit my current collection. I then turned to Ebay. I had a ruff start for me first coin, a generic mint state Morgan, but ended up breaking even and was quite happy with that. Then I started getting better photos along with great descriptions and made people curious. Eventually I got many watchers and/or bidders with great interest. I stopped for awhile during Christmas break cause I was told sales were down during then. Sometime this week I hope to get back in. Better descriptions, fair pricing, large inventory, a little background on my business, and specialize in tokens.

Please share your first Ebay coin selling experiences and what stage your currently at. Would you take anything back or change anything?

Shamika

I've only sold a handful of coins on ebay over the years. I've never been flat out disappointed, but I've also had to decrease my asking price to make two of my sells.

I did, however, sale a coin on ebay for $164.00 that I had picked up at a coin show for $8.00.

Prethen

I've been very disappointed so far. I feel like I getting fee'd to death.

BigGreek

I recently sold off a small portion of coins which were not adding to my core
collection (I'm focusing on Walkers and Peace $s).

The coins were some overgraded NTC and PCI Mercury dimes and an
1806 half. The dimes did extremely well, gaining more than %50 of my
initial cost. I had an ethical dilemma on selling the crap-slabs but I
gave the buyers refund guarantees and provided good pictures. Still,
I think at least one buyer overpaid by a good %30.

The draped bust half was another story. I paid $350 for it about a year
ago on an impulse. The coin had been cleaned but it was hard to see
with the naked eye. It had solid VF/EF detail. Nice coin, and I almost didn't
sell it but for my increasing Walker habit which I needed to support. The
coin got 17 watchers but only closed at $340ish. I felt the coin had a
50/50 chance of getting bagged by PCGS so I didn't feel too bad, but it
was still a damn nice coin.

EBay sales are doing very well in my opinion. Lots of new buyers still
coming in. The fees are aweful, though.

DennisH

As one who was constantly upgrading his Morgan set, eBay was the best thing that ever happened in terms of selling my old coins. No more having to take whatever pitiful offer a dealer would make.

Merc

Ebay works, but the fees keep going up. I started on ebay back in 1998 when there were few coins there. Teletrade was the only other on-line auction in town. I found I could get coins on ebay without having to pay Teletrade's buyers fees. I've also used it to sell off coins I didn't want anymore. I sold off my FBL Franklin collection and got good prices. One winning bidder emailed me to say he had bid too much because he got caught in the auction but still payed. I thought it was funny he email me to tell of buyers remorse.

ChuckC

I've had good luck so far. I've sold some basic coin sets and circulated stuff that brought in some nice $$. I'm hoping for that 1000% profit coin to come my way; it seems ebay bidders are suckers for toners.

My advice: It's all about the great photos, honest descriptions, and the low starting bid with no reserve.

ziggy29

Not bad, for quality stuff with good pictures. Though it still seems like you can knock 20% off the top just by putting my user name on an auction.

On the flip side, as a buyer it used to be so, so much better. Sellers used to be willing to take a larger percentage less than full retail to avoid selling to dealers and losing out on even more money. But as the venue has become more popular and there's more "stupid money" out there, the nicer coins on eBay that I'd like to have are usually costlier than I can find them from a dealer.

jdsinva

For me, I found it's hard to make money or break even on common date stuff unless it's a really nice piece. I can clean up buying VAMs for common money and selling them at VAM prices but most of the good ones I keep for myself.
Jeff

RotatedRainbows

<< <i>As one who was constantly upgrading his Morgan set, eBay was the best thing that ever happened in terms of selling my old coins. No more having to take whatever pitiful offer a dealer would make. >>



That is the best thing about Ebay, makes it much easier to sell to other collectors for a reasonable price instead of having to sell wholesale to a dealer or put classified ads in the coin rags.

IrishMike

There is a really simple method to selling coins on ebay that works. Know what you are buying, buy nice coins to begin either with lots of eye appeal or rarity. I did this in the 90's without knowing or carrying about reselling them. List your coins with nice photos, and set a realistic reserve. I've never lost a dollar on a coin on ebay and I've been selling there since 1999. In fact its not uncommon for a buyer to email me back asking for an inventory list. Now I don't make a living selling coins so I don't have to operate on some sort of mark up. In fact many times I set the reserve at what I paid for the coin years ago. I'd rather make a friend any day than a buck.

I've had two bad experiences on the purchasing side that were not my fault and two that I should have known better and I still own those 2 coins. Anyone in the market for a couple of cleaned Trade Dollars?

relayer

I hope to be retiring from selling on eBay by March

Since I generate plenty of revenue for eBay, PGCS, NGC, PayPal and the post office it may have a devistating impact on the economy.

KurtHorn

<< <i>As one who was constantly upgrading his Morgan set, eBay was the best thing that ever happened in terms of selling my old coins. No more having to take whatever pitiful offer a dealer would make. >>



Amen Dennis it definetly helps level the playing field.

tjkillian

<< <i>As one who was constantly upgrading his Morgan set, eBay was the best thing that ever happened in terms of selling my old coins. No more having to take whatever pitiful offer a dealer would make. >>



I could not agree more. Absolutely. I will not sell to another dealer unless he/she specializes in what I'm trying to sell.

Tom

flaminio

Sometimes I get hosed on the final values, but for the most part eBay's been a positive experience for me. Certainly I get better prices there than shlepping them down to my local dealer.