Ebay policy update for listing raw US coins greater than $2,500

derryb

Ebay coin listing rules. Note the new one for raw US coins $2,500 and greater:

"Policy Update: All single coins listed in the Coins: US category with a starting bid price, reserve price, or Buy It Now price of $2500 or more must receive a numeric grade from an approved grading company and include a numeric grade in the listing. This requirement doesn't apply to collections, lots, or sets listed within the Coins: US category. This requirement also doesn't apply to bullion listings."

"If the coin isn't graded by one of the following grading companies, it's considered raw and must meet the requirements for raw coin listings.

Currently, the following four companies meet these criteria:

Numismatic Guaranty Corporation (NGC)

Professional Coin Grading Service (PCGS)

American Numismatic Association Certification Service (ANACS)

Independent Coin Graders (ICG)"

ziggy29

So you sell one valuable "raw" (by eBay definition) coin as part of a "lot" with a circulated 1956-D wheat cent worth five cents -- and you've just circumvented the policy?

Banemorth

<< <i>So you sell one valuable "raw" (by eBay definition) coin as part of a "lot" with a circulated 1956-D wheat cent worth five cents -- and you've just circumvented the policy? >>



Sounds like it! It also doesn't stop people from just starting the auction lower and letting it get bid up.

ctf_error_coins

I have always thought a coin is what it is and plastic will not change what the coin is or isn't.

What a silly policy.

jmski52

So, a raw Large Cent worth over $2,500 can't be listed with a reserve. I have quite a few Large Cents that were graded and cracked out, but they were sold with the grade label in addition to all of the old envelopes that document the history. Once again, ebay proves its own ignorance of coins. That's ok, because I wasn't going to use ebay for them anyway.

Frankcoins

<< <i>So, a raw Large Cent worth over $2,500 can't be listed with a reserve. I have quite a few Large Cents that were graded and cracked out, but they were sold with the grade label in addition to all of the old envelopes that document the history. Once again, ebay proves its own ignorance of coins. That's ok, because I wasn't going to use ebay for them anyway. >>



Several old copper people have given up trying to sell raw copper on eBay, not being allowed to use EAC grades such as VG7, which are NEVER
given out by any of the 4 approved grading services, yet eBay claims such use implies that the coin is graded by an approved grading service.

LindeDad

So eBay with the assistance of PNG come up with a rule to try to control the graft on it's site and the members here think it's wrong to do it?

BTW nobody was very happy that ANACS and ICG were excluded at first either when previously discussed and the rule made them add cert. verification to their sites.

It cost about $30.00 to get a coin certified when one is ready to sell small change in fees for the level of sale IMO. And how many high end RAW coins does one see at Heritage or Teletrade may I ask.

derryb

<< <i>I have always thought a coin is what it is and plastic will not change what the coin is or isn't. >>


Its not the plastic, it's the label in the tamper proof plastic that protects a buyer. Sealed, graded coins are also being certified as authentic, if certified by one of the ebay approved TPGs. Anybody can stick a coin and a label in a slab, thus the "approved" TPGs. I applaude all ebay efforts to protect the coin buyer, even if it comes at a small cost to some sellers, including myself.

nibanny

Is the UHR considered bullion even if it sells way over spot?

If I read it correctly, a seller could sell a raw coin as a lot just adding another coin, like a current cent. The point is that it has to go under the lots category, right?

derryb

<< <i>Is the UHR considered bullion even if it sells way over spot?

If I read it correctly, a seller could sell a raw coin as a lot just adding another coin, like a current cent. The point is that it has to go under the lots category, right? >>


The only specific categories for US gold coin bullion in the ebay system are Buffalos, Eagles and Spouses. While ebay strictly enforces these high dollar coins being properly listed in the bullion category (they don't award ebay bucks for bullion items), I believe there is some leeway with other coins. If a seller chose to list a modern US gold commemorative or UHR as bullion I don't believe ebay would pull the listing. Keep in mind that there are seller advantages to using the bullion category - bullion is exempt from the 14 day return policy that is required to maintain seller discounts. Offering a 14 day return policy on an item whose price is volatile is not in the seller's best interest, and ebay appears to recognize this. The advantage of listing outside the bullion category is that buyers are more likely to purchase there and earn ebay bucks - the bullion category does not earn them ebay bucks. Seller has to weight the advantages if he feels he has liberty to decide one category or the other. Decision is of course subject to Ebay's interpretation of their own rules, but you don't know until you try. I've already been warned that American Eagles have to go in the bullion category; my get out of jail card has been used up.

JamesM

Issue could be "...receive a numeric grade..."


Sounds like they do not want details coins listed.

Wolf359

Dumb idea. Might work with Morgan dollars, but not other series.

LindeDad

<< <i>Is the UHR considered bullion even if it sells way over spot?

If I read it correctly, a seller could sell a raw coin as a lot just adding another coin, like a current cent. The point is that it has to go under the lots category, right? >>



I think such obvious attempts to get around the rules would get auctions cancelled and the seller might end up with restrictions on their account.

Edit to add that if one really wants to play games just list it "no reserve" and have their shills bid at what they want to reserve it at. BTW eBay frowns on that too but is slow to react in most cases.

DennisH

I suspect the policy is intended to prevent know-nothing bidders from being scammed by self-slabbing and 4th world "grading" companies who do things like put cleaned AU 1884-S Morgan into holders and label them MS65, then put them up for sale with a $10,000 Buy It Now price that looks like a monster bargain.

(edited to fix spelling and typos, darn it)

lkeigwin

I like it. Finally ebay is free of the loonies trying to sell mint errors for moon money.

Sure, there's a downside to any policy. I haven't heard any better, practical ideas.

If you don't like it, sell elsewhere.
Lance.

mrpotatoheadd

Since accepting responsibility for your actions is no longer a popular concept, there probably aren't any better ideas. eBay is just a reflection of our larger society, where the thought of having to deal with any risk, no matter how small, is abhorrent. Better to treat everybody like they're idiot children and make absolutely, positively sure that nobody gets hurt.

Fact of the matter is eBay already offers plenty of protection for buyers as long as they read and understand the listing and terms of sale. And not bid if they either don't agree with or understand them. Clearly, that's not good enough. Bidders want the ability to click the pretty pictures and not have to bother with all that reading stuff.

coindeuce

Does eBay exempt Proof issues of American(gold/platnum/silver) Eagles from the bullion category?

derryb

<< <i>Does eBay exempt Proof issues of American(gold/platnum/silver) Eagles from the bullion category? >>


only ebay can answer that. I would also include the burnished W eagles in your question since they are issued as collector coins. My definition of US bullion coins would be those that are not sold directly by the US MInt to the customer as collector coins. This would limit it to only bullion coins that have to be bought outside of the Mint. However, in ebay's eyes an American Eagle is an American Eagle, all bullion.

MsMorrisine

While I applaud them for trying to protect the buyers from fakes and altered coins,

I am against this policy as I think there are plenty of honest people out there who don't do the submission thing but will be forced to do it by this policy.


Unfortunately, this is their site and not a public one, so they can make the rules.

pf70collector

There are a lot of collectors that prefer their coins raw, especially in the original government packaging. Sold my 2008 Gold Prosperity Set raw last week. Not that I would mind getting it graded before I sold. Maybe I could have received a 70 on one of the coins, but a mismatch grade may not be good. So no more raw UHRs, Prosperity Sets, etc anymore on ebay. Too bad.

LindeDad

Even with the new rule anything can be listed if it is done in a "No Reserve" true auction. They are just saying not as a reserved auction or BIN it can not be listed.

Steve

Interesting that ANACS is referred to as "American Numismatic Association Certification Service when that organizations grading service has been out of business for over a decade. Doesn't the managers of this area at EBAY know what is going on in the coin business? Steve

pf70collector

Also forces you to buy a store subscription also. With BINs your won't pay the $250 mandatory fee but you will be for a true auction.