Instagram!! And selling coins..

Coin Finder

Hey I keep hearing that this is the place where the coin market is headed as far as sales. Anyone know how to do it? A quick step by step?

How does shipping work?
Returns?
How do you get paid?
Cost?

Thanks in advance!

COINS MAKE CENTS

Don't have a clue. I won't touch doing things on instagram or Facebook as far as selling coins. Theres no protection at all.

Pokermandude

Probably about the same as the BST here.

Coinstartled

A young dealer (I think it was Owen Seymour) said he was doing substantial business on the sight. Maybe he can answer your questions.

robec

@Pokermandude said:
Probably about the same as the BST here.

Exactly the same. Many board members from here are there, including PCGS and Phil Arnold. I’ve bought several coins from Instagram members.

U1chicago

Like some mentioned it's just like the BST here, but with a somewhat different audience (although there are people that are on here and over there).

You can post pictures and/or videos. Then put up a price and someone might send you a message wanting to buy your item. You can choose to take whatever form of payment that suits you (Paypal, check, Venmo, etc...paypal is likely the most used).

Just like most platforms, you have mainly decent people mixed with some bad apples/ lowballers. If you're not sure about someone, ask for references or contact someone you know for more information.

jwitten

I've been on instagram around a year now I think. Honestly, I haven't made many sales... maybe one or two. Seems like most of the users are younger with not much money to spend. I've bought a few nice coins though. Basically, it's just like buying or selling here. They offer no actual platform for a transaction, they just offer a place to advertise or find stuff. You then can proceed however you want. Check, paypal incoice or friends and family, etc. It's up to you and the other party.

renman95

I see a lot of nice coin (pics) on Instagram. I share a few myself. I'm not sure how it relates to sales.

cameonut2011

@renman95 said:
I see a lot of nice coin (pics) on Instagram. I share a few myself. I'm not sure how it relates to sales.

You simply add a price to the title or comment field and work out the details in PM.

ACop

It's all words on the computer screen and random strangers agreeing to barter risking losses and thefts, just like the bst. It's amazing how high percentage the honor system works on the internet to be honest.

Owen1793

I've made thousands of sales on Instagram. Instagram itself doesn't actually facilitate the "payment" portion of the sale. An item can be posted with a price in the caption, and sales are normally completed in the private messaging system built into the app. PayPal is obviously the most common payment method, especially since the buyer protection offered by PayPal is the only option.

Shipping- Shipping isn't anything out of the ordinary, printing labels for purchases via PayPal.

Payment- I'd say 95%+ of my payments are PayPal, the rest being checks from people I trust.

Returns- Returns are pretty self explanatory too. Again as Instagram does not directly facilitate the sale you are not held to any return policy however most dealers obviously accept justified returns.

Cost- I'm assuming you mean fees imposed by Instagram, if so, none.

Instagram lacks the ease of automated sale checkout processes such as eBay, but is in my opinion a far more enjoyable, personal, and "fun" platform to display, admire, and of course sell coins.

Sorry for the length but hope this helps.

cameonut2011

@ACop said:
It's all words on the computer screen and random strangers agreeing to barter risking losses and thefts, just like the bst. It's amazing how high percentage the honor system works on the internet to be honest.

How is that any different risk wise from a bourse where someone can run off with your coins or you could be robbed in the parking lot? PayPal and credit card protections reduce much of the risk of online sales.

Timbuk3

Interesting !!!

ACop

@cameonut2011 said:

@ACop said:
It's all words on the computer screen and random strangers agreeing to barter risking losses and thefts, just like the bst. It's amazing how high percentage the honor system works on the internet to be honest.

How is that any different risk wise from a bourse where someone can run off with your coins or you could be robbed in the parking lot? PayPal and credit card protections reduce much of the risk of online sales.

It's not, that's what im trying to say. The whole world is that. People just agreeing to things with each other.

ricko

I follow several sellers on Instagram.... I have not purchased any coins there - yet. It is a very thriving sales venue from what I have seen....and yes, it does have a lot of younger buyers - and sellers. It is a segment of the market that so many do not realize is there.... definitely accounts for some of the 'perceived' market shrinkage. Cheers, RickO

Coin Finder

Thanks everyone and @OwenSeymour ! So I guess I need followers first? Or can I just post it and link it up to facebook , twitter etc? How do you get followers?

jwitten

@thebigeng said:
Thanks everyone and @OwenSeymour ! So I guess I need followers first? Or can I just post it and link it up to facebook , twitter etc? How do you get followers?

Follow a lot of other coin people, and they in turn will follow you (sometimes!)

bigjpst

@thebigeng said:
Thanks everyone and @OwenSeymour ! So I guess I need followers first? Or can I just post it and link it up to facebook , twitter etc? How do you get followers?

If you post pictures and follow other coin people you will start to get followers.

I have just recently started using Instagram and my only sales so far are from people who I have already done business either from my website or here that follow me. I like it so far though and I’ll keep trying for a bit.

ElmerFusterpuck

@bigjpst said:

@thebigeng said:
Thanks everyone and @OwenSeymour ! So I guess I need followers first? Or can I just post it and link it up to facebook , twitter etc? How do you get followers?

If you post pictures and follow other coin people you will start to get followers.

I have just recently started using Instagram and my only sales so far are from people who I have already done business either from my website or here that follow me. I like it so far though and I’ll keep trying for a bit.

Along with the above, don't forget hashtags like #coins, #coincollecting and so on. That will also build up your following.

Kkathyl

FACEBOOK is a nightmare so can't imagine the others being any better. No way to filter so you will get IM all day from 15year old who want to offer you 1/10 and will follow up will Begging like they do to the Mommy. Please smiley face wink wink smiley face come on please........

clarkbar04

Better place to buy than sell IMO.

asheland

Type2

@Kkathyl said:
FACEBOOK is a nightmare so can't imagine the others being any better. No way to filter so you will get IM all day from 15year old who want to offer you 1/10 and will follow up will Begging like they do to the Mommy. Please smiley face wink wink smiley face come on please........

It works some times not with my wife but works. if not this does.

Coin Finder

I see.... On Ebay when selling coins, jewelry or sterling....I think the return policy is to long (180 days?), I am looking for other venues....

gtstang

I haven't attempted to sell anything there yet. I've posed two pics and one video of Peace dollars. I've gotten a lot of followers more from other countries than the U.S. for some reason.

Owen1793

@thebigeng said:
Thanks everyone and @OwenSeymour ! So I guess I need followers first? Or can I just post it and link it up to facebook , twitter etc? How do you get followers?

Followers first?- you do need followers to have a decent audience. The coin community on Instagram is very welcoming and I'm sure many, myself included, would make a post letting our followers know about a new member. Followers are normally gained through hashtags, which essentially enter your picture into a category (for example, "#coins"). Interacting with other coin collectors and dealers (following, liking, and commenting on photos).

Link to Twitter/FB?- Yes, you can link posts to Facebook through Instagram, however for the Instagram "part" of the post its obviously still beneficial to have a good following. Sharing Instagram posts onto FB is normally just to share your page, rather than one post in particular.

BeefCurry808

Im on Instagram @EatDatCurry, hit me up and maybe id be interested in coins

robec

A few Instagram purchases.

mannie gray

@robec
That 48-D nickel is beautiful.

BlindedByEgo

Fascinating post. Might never had happened had PayPal and eBay not separated.

PCGSPhoto

A few days ago I took over the content for our instagram feed, and our customer service department handles customer questions. I’m hoping we can provide some fresh and informative content.

https://www.instagram.com/pcgscoin/

There’s a lot of new collectors there that need some education, and some consumer protection. What that consumer protection could possibly be, I’m not sure. Would it be helpful if there was a list of trusted PCGS authorized dealers on instagram? PSAs of common pitfalls? Instagram seller spotlights? Posts on telltale signs that a coin has been messed with?

Peace_dollar88

I have bought and sold on instagram and never have had a problem. If you feel like a seller or a buyer is shady, I would recommend asking for at least 3 references and you can always DM reference's provided. Great place for the coin community if you ask me.

giorgio11

Well I signed up this morning since I woke up in Chattanooga at TSNS at 3:54 a.m. Blame Daylight Losing Time for that. Well anyway now I am vdbcoins on Instagram!

Old dog, new tricks ...

jmlanzaf

@ACop said:

@cameonut2011 said:

@ACop said:
It's all words on the computer screen and random strangers agreeing to barter risking losses and thefts, just like the bst. It's amazing how high percentage the honor system works on the internet to be honest.

How is that any different risk wise from a bourse where someone can run off with your coins or you could be robbed in the parking lot? PayPal and credit card protections reduce much of the risk of online sales.

It's not, that's what im trying to say. The whole world is that. People just agreeing to things with each other.

I've been saying for 20 years that eBay convinced me of the fundamental honesty of people. Especially in the early days when there was no PayPal, I had 4 or 5 bounced checks out of thousands of transactions and only 2 that weren't made good by the buyer. I've never had a seller fail to deliver. People are 99.95% good, honest and forthright. I think we sometimes forget that because the 0.05% get all the news coverage.

TwoSides2aCoin

I'm old school. I buy and sell through a brick and mortar. Many of you have probably never heard of those, or seen one.

ctf_error_coins

wow, sounds like I need to look into Instagram, I am super busy right now so it will have to wait.

Hallco

@giorgio11 said:
Well I signed up this morning since I woke up in Chattanooga at TSNS at 3:54 a.m. Blame Daylight Losing Time for that. Well anyway now I am vdbcoins on Instagram!

Old dog, new tricks ...

Now following the "old dog"!

CascadeChris

Social Media coin sales is the platform of the future, today. I'm only on FB so far and you do have to deal with the occasional idots but there are decent / good coin sales groups on FB with buyers for both low cost drek and high 4 to even 5 figure coins. Some groups however have admins and mods that allow all the drama and crap, just like these types of froums. Avoid those. Not sure about Instagram or other SM sales platforms yet but I plan on exploring them soon. Social media truly is the coin selling.. and BUYING.. venue of the future that's here today. I highly suggest people try them out especially before the platforms themselves figure out how to monetize the sales and take your money. PM me for FB group recommendations if you want. I'll have to get some pointers from @OwenSeymour when I start to check out Insta!

MrSlider

Hey, if you follow me on Insta I'll make sure to follow you back (coin related) ---- @BigBearCoin

Here's a recent pickup I got on the platform:

Bochiman

So, the question I would have:

Are the buyers/sellers less sophisticated on FB/Instagram (ie....bargains? mostly raw or off slabbed?)

U1chicago

@Bochiman said:
So, the question I would have:

Are the buyers/sellers less sophisticated on FB/Instagram (ie....bargains? mostly raw or off slabbed?)

I’d say no. There are quite a few people that are on here but also some that are only on there. There are plenty of younger people on there too. I wouldn’t say it’s less sophisticated. It’s different as most posts are pictures and videos of coins (and usually less conversation on each post...the forums are a better format for longer discussions in my opinion while IG is better for posting coins, especially with videos which tend to be rarer on forums).

There are deals to be had (obviously depending on what you’re looking for). The material posted is a mix of raw and slabs (I personally see more slabs than raw). There is a wide range of items and prices (from a few dollars to several thousand+), with plenty of toners and bullion.

Bochiman

Thanks.
I think my concern is less about "bargains" as it is "perceived bargains".

Ie...."This is an OLD coin, and I cleaned it up nice....I want a lot of money for it" versus many here that are more "PCGS guide for that coin is $xxx and last few ebay auctions are ......"

I like dealing with people that have some knowledge so I don't feel like they may think I am ripping them off and me having to explain why I am asking $xxx for a simple coin but also so I have a better feeling that they may know what they are selling so it isn't something in a 3rd world slab that they are asking PCGS money for.

cameonut2011

@Bochiman said:
So, the question I would have:

Are the buyers/sellers less sophisticated on FB/Instagram (ie....bargains? mostly raw or off slabbed?)

It varies. There is everything from young numismatists through expert dealers. If I am not mistaken, even CRO has a page.

SurfinxHI

I’m beachcombercoins on instagram. I post somewhat actively, more so around shows.

Been a fair spell, but with three shows coming up, will post more.

giorgio11

@MrSlider said:
Hey, if you follow me on Insta I'll make sure to follow you back (coin related) ---- @BigBearCoin

Here's a recent pickup I got on the platform:

Done @MrSlider I am @vdbcoins on Instagram. PS Great Mercury dime pickup!

Kind regards,

George

Rexford

I'm @Rexford_jazper_scott on insta. I post a lot of cool foreign pieces. My latest:

MorganMan94

Just followed everyone on the forum who has listed their username above, I am iowacoinguy

jesbroken

I wonder about all the fake apps that allow you to add as many likes as you want in order to make people think you have a good record(I guess similar to eBay's Feedback). It seems pretty difficult utilizing the search feature, I tried several times for a coin I know is offered but it says no results. I guess somewhat of a learning curve.
Jim

1630Boston

Someday [is it really possible??]................the future will be here

messydesk

I've been meaning to explore Instagram as a means to unload some stuff. Hopefully, I'm not saying the same thing a year from now.

ElmerFusterpuck

@jesbroken said:
I wonder about all the fake apps that allow you to add as many likes as you want in order to make people think you have a good record(I guess similar to eBay's Feedback). It seems pretty difficult utilizing the search feature, I tried several times for a coin I know is offered but it says no results. I guess somewhat of a learning curve.
Jim

Since Instagram is geared towards images, it could explain why the search feature is lacking in some areas. As for fake followers/accounts, they are out there. Every now and then I scrub and delete/block followers I suspect are fake (like having only 10 posts and 4k followers) or ones that only post stupid-faced selfies. I also block anyone that keeps messaging me with lowball offers on stuff I'm not even selling.

Other than that, it's been a blast out there.