Tried to sell this on Ebay, but got no bids
Jcld
Posts: 449 ✭✭✭
Hi all. I recently dipped my toes in the water of Ebay auctions and tried to sell 2 half eagles on Ebay, one sold just fine, a AU details grade from NGC due to rim damage. The other an 1880 half eagle graded at AU53 from NGC. I started bidding at 355 dollars and go no bidders. Is this too high? Price guide for a AU 40 is $375 and AU55 is $405 for PCGS and NGC AU53 is $470. Was I just unlucky or is there just not a great market for gold half eagles at this time on Ebay. Thanks for any input you might have, I am very new to all this.
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Comments
Throw it on the BST at what you will take for it. No fees!
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Unless you have low feedback I cant see why someone did not bid on that.
Who pays over $1425 per ounce for generic gold?
Did you check to see what others like this actually sold for as a comparison?
Seems like $355 was a good price. Especially with the 8% eBay bucks promo that was running all weekend.
With Ebay/Paypal fees at 8 / 13% depending on whether you have an Ebay store, a trip to a decent nearby local dealer would serve you at least as well.
Buy sell trade forum is another good choice.
I just sold 3 generic 5's all XF to au range, original, but raw, they brought 337, 348 and 378. Market is oversaturated with generics, if not a deal, Folks will pass and go on to another deal.
I saw a few ngc/pcgs in ms 61/62 for 400 to 435 last week. As others said to many out there for less
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Rarcoa is paying around melt even for low ms grades of many gold coins. BST would be a good option with paypal.
The Gray Sheet bids are as flat as a pancake on this coin:
EF $335
AU-50 $340
AU--58 $345
MS-60 $350
That explains why there is no interest in an AU-53 at $355.
like another member said, put it here on the bst........no fees!
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Pardon my ignorance but what makes this coin "generic".
As Bill Jones said, Graysheet is "flat as a pancake". On coins like this Graysheet or melt value rules ... not "price guide." It is just too common and AU-53 is a grade most don't like,
Per David Akers: "The 1880 is common in all grades and is readily obtainable even in choice condition."
Mintage = 3,166,400
So because it is relatively common and not a high grade it is considered "generic"?
I guess I should get access to the Graysheet in the future
It may be generic but at least it's handsome.
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Warning. The Gray Sheet is expensive. You have to get quite a bit of advice on buying and selling prices to make it worth theh cost.
"Generic" usually means the coin is a common date or common date and mint mark combination, and it has a limited numismatic value, especially in the lower grades for the given metal. For gold most common dates become "lower grades" in anything AU and below. Since many MS-60 or even 61 graded coins are viewed has AUs by many collectors, those coins often fall into the "generic" trap.
Generally AU-53 really only as "fire power" for coins that are considered rare or unusual, like a piece of early gold or something from the Charlotte or Dahlonega Mints.
My perception is that a large number of buyers are flippers and/or only looking for bargains. This is also why there is a dearth of nice stuff available for sale.
Decent coin, nice detail for the grade, would be good for a type set. If you are like me you'll end up paying about 10% in fees so a net would be 320 based on the 355 sale. Better to place it on the BST at a better price than the 355 and make a few extra $ IMO. Ebay can be tough to sell coins from my admittedly limited experience...sometimes it takes quite a while before a buyer appears unless the coin is a real bargain.
K
Anything priced correctly will sell on eBay. After all, it has the largest audience in the world.
Price fixes everything
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Bad transactions with : nobody to date
Common date circ gold. Melt on the coin is $299. maybe it can fetch like $320
The nice people on eBay are only interested in getting rips.
A lot of people will skip auctions where the seller has an opening price of hundreds of dollars.
Other than that, BillJones' explanation is best.
You started it too high / shb started around CDN bid less 10pct. Say around $300. If it generates bids can go $320 or higher.
I would put in a max bid of $325 - $350 on AS if bidding looking get it less than AU 50 bid.
Not much of buyer on Bay unless get back of bid.
If you run an auction with the start your reserve, you might as well do a BIN
There are only so many opportunities. Maybe it was one that people missed. If at first you don't succeed....
HE>I
I never understand why there are always huge quantities of generic gold in various auctions. The stuff only trades at a small premium above melt. These coins are liquid and readily sold to various bullion and quasi-bullion companies. The buy/sell spread there is much lower than the huge cut the auction houses take.
I suppose if you start everything at $0.01 with no reserve, it will sell at some point; however, this misses the point entirely. The real question is if you can sell it for a realistic price. If melt is $299, and cheap collectors on eBay expect him to only net that much or less after eBay fees and PayPal fees, he might as well sell it to a gold refinery to melt and turn into a boring bullion bar.
For a coin like this, the BST is usually the better venue.... It is not a desirable mint, condition or date...so basically, it is a gold coin... someone would like one just to have or perhaps fill a gap in a series... Best of luck, Cheers, RickO
Oh . . . you are making my pretty gold coin sad . . . Thank you for the input though I have learned a lot and since it seems like for the immediate future all this coin is going to get is a tiny premium above melt I should just hang on to it until the price of gold becomes stupid again.
Thank you.
I'm still waiting.
The RARCOA GOLD SHEET
Quotes as of: 3/22/17 08:20 Basis Gold: $1248.60
Uncertified Buy/Sell U.S. Gold
VF XF AU BU
$1 Type I 130 170 145 190 160 205 170 215
$1 Type II 300 345 365 415 455 530 1,025 1,275
$1 Type III 175 210 185 220 205 240 240 285
$2.50 Liberty 235 285 245 295 265 305 270 315
$2.50 Indian 215 255 225 265 230 270 230 280
$3 Gold 615 765 725 875 850 1,000 1,425 1,765
$5 Liberty 286 326 298 338 304 344 311 356
$5 Indian 306 361 331 381 363 408 396 441
$10 Liberty 579 624 589 634 599 644 605 654
$10 Indian 614 659 629 674 664 714 689 739
$20 Liberty 1,188 1,253 1,198 1,263 1,213 1,278 1,218 1,288
$20 St. Gaudens 1,193 1,258 1,203 1,268 1,218 1,283 1,218 1,288
It's nice looking at very least.
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jcld...at least you are stuck with a pretty one!
I don't feel stuck, this was a great learning experience and ya I like the look of the coin.
You started it too high - reduce 10pct try again - rinse and repeat.
If You don't need the cash then throw it back in y eBay store at retail. Who knows it might sell. I have items sell at retail in this manner a week or so after an unsuccessful auction bringing more money. Possibly someone saw it in the auction but needed wait until payday have the money.
deleted
Turbosnail.......are you kidding me? $200? Melt alone on that is worth more than $200. Please try and learn more.
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You beat me to it mkman, as of post its just over $300
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Thank you for pointing that out. As said, I have no knowledge of this gold coin nor its weight. I only speak off my mind.
The premiums have shrunk. Around Y2K the premiums especially on $20 gold pieces was huge even on circs.. No more, probably the major collectors/investors have diminished.
$2 1/2 gold pieces and gold dollars have held big premiums though.
Not likely that it made much difference but the Item Specifics/Details in your auction listed it as an 1882. A potential bidder might have been turned off due to the obvious listing error. www.ebay.com
Alright guys, I apologize for the harsh opinion on my first post and decided to delete it. It was purely an opinion from an amateur. But I do like to point out that not every potential buyer is a serious collector or a wise investor. I could had easily google the weight of the coin to find the melt value. However, it would also defeat the purpose with the eyes of an average Joe who showed little interest in this coin.
Please understand the melted value doesn't apply to everyone beside investors/flippers who is willing to put some efforts. For example, majority of us will not buy 10 lb of used copper pipe even with 30% under spot. When the general public showed little interest, they would skip the bidding unless the deal is too good to be true.
Holy Crap I didn't even notice that, the other coin I sold, the one with rim damage was an 1882. Thanks for pointing that out.
A B&M gave me 375 for an 1854 $5 No Motto XF details.