Not so hypothetical--Raw coins on ebay--It's probably real but...

RYK

Ebay is a mine field of traps and bombs, but occasionally, a good purchase can be made. I reported one that I made last week.

When you encounter the coin purchase that looks too good to be true, how do you handle it?

Pass
Take a flyer if it is not a lot of money
Bid a fraction of the coin's worth to limit your downside
Any other strategies?

Assume that the seller looks legit, there is a return privilege, the feedback profile is strong, but there is no way you can authenticate the coin or properly assess it. And, no, in this hypothetical, if you choose the wromg answer, there will be no uninvited houseguests.

Lakesammman

Last time I bought a raw coin it was counterfeit - but so cool that I kept it.

A very well made 1876 IHC, shallow N.

STONE

This hypothetical happened to me today.

Bought an expensive coin in a series I know NOTHING about.
Did some quick 15-20 minutes of research (gotta love google).
Felt fairly confident it was authentic (from my limited experience and visual comparisons)
...it just had the look, and the Chinese ain't counterfeiting these...YET!
There's a full 7-day return from a 100% Feedback seller.

I won it for a fraction of an authentic coins value (maybe 10-15% of its true value).

Is it worth it to be wrong? Probably since it will likely only cost me shipping + insurance
to return the coin. And what's the fun of numismatics if you don't take risks every now
and again!?!

RichieURich

Well, I did once buy an 1872-S quarter in NGC AU (since crossed to PCGS) on eBay from a seller with feedback of 46.

I went through a lengthy thought process and decided to go for it.

I must have been nuts, but the coin was legit and I made money when I sold it.

(Double-spaced in memory of Bear.)

jonathanb

I typically bid enough so that I would only be outbid by someone who was sure it was real. Works well when I win, although it leads to some laughable bidding patterns if a few experts jump in at the end...

Barry

Pass. A cesspool is made to hold waste.

mbogoman

Research it as heavily as I can - Google searches, die markers, mint mark position, etc and in the end, if all checks out, knowing that Ebay will back me if it isn't what I thought it was, I bid (or Buy it Now).

Last year around this time I found a "Buy it Now" on a raw 1879-CC Morgan listed as AU. It had been up for three and a half days. The pictures were poor, but it looked like there was decent luster and relatively little wear, if any. The BIN was $350. I was a bit spooked since it had been around for a few days and the price was TGTBT. Everything checked out diagnostically and the seller had over 200 positive feedback, so I bit. It now resides in an MS61 slab from our host.

TheRegulator

I've picked up two dream pieces in the past two years off eBay. Both raw. One from Mexico with no returns. However, both pieces were from more obscure areas of Mexican numismatics in very high states of preservation. The kind of stuff you will likely never see from major auction houses or dealer websites.

In both cases I placed a high snipe and was fortunate enough to be the high bidder. If you are confident in your judgment of the images provided, and it feels right... go for it.

tightbudget

Read the seller's feedback, see terms and condition, make sure I've done all my research. Then decide.

ozees

Barry,,,,, Your Avitar is just plain wiered..........