How much do you risk on raw coins on EBay?
KensCoins2287
Posts: 160 ✭✭✭✭
Do you have a dollar limit on what you would bid for a raw coin, crappy picture, and "no returns"?
The reason I ask, I saw such a coin (1825 bust half, common variety) sell for $1400. I thought the coin looked good, but it was too much of a risk with poor pictures for me.
What are your thoughts?
2
Comments
Not that much.
It's all relative I'm sure, but being so new to collecting the most I've ever spent on a coin period is $200! That said, I did buy my first ebay coin recently which was a cheap set of 2009 Proof Lincolns from terrible photographs. I decided to risk it because it was $9.95 +$3 shipping. Of course he took 2 weeks to take them to the post office, but I thought I saw some nice toning and was willing to gamble. Sure enough I got them thursday and they look great so I'm please with my $13 purchase!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
Zero
0
Those days are over for me.
I've done it in the past and did ok. You have to know the basics of grading before doing it. A seller can say AU and it's XF, as an example. Make sure theirs a return policy as well. I never spent more than a couple hundred.
It depends on many factors.
Is the coin expensive or relatively inexpensive?
Is the coin a date that's heavily counterfeited?
Does the seller allow returns?
Are there good high resolution pics?
Is the seller a well known national dealer with a good reputation?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
You can always issue a charge back or return it. The key is to find dealers you trust and stick with them...face-to-face or on Ebay
All comments reflect the opinion of the author, evn when irrefutably accurate.
about 300 or 400...if I really 'need' it.
In the OP link, I think that coin was put into an older style holder, recently. It's not been in there that long IMO, as with the others offered.
0
Around $200.
U.S. Type Set
Depends. I have bought several EFs that graded AU to MS62 - US and World coins. Sometimes I like the "No Returns" statement because it keeps the bidding low. The most I have done is $250.
I was burnt big time on a Saint
In this day and age of holdering coins, I do not buy raw if the coin is above the $200-$300 range. There is a reason it is unholdered if it is XF, AU or MS and in the $1k range. There are probably a dozen reasons it wouldn't make it into a TPG holder. I ain't got time for that. less so for the Bust half series that each date has twenty thousand other certified examples.
I would never take a chance on a Bust half in that dollar range, or for a coin with that mottled, oil spilled over it look.
This is the last raw coin I purchased on Ebay about four years ago. I got lucky that is for sure.
Pics from Ebay:
I wing it.
No raw coins on eBay for me at any price, with the exception of one and only one dealer.
$200 to $300 range. Keep in mind its not just eBay you have to worry about. At the risk of being accused of dealer bashing, ill leave it at that.
"A dog breaks your heart only one time and that is when they pass on". Unknown
Haven't looked at any raw coins on Ebay beyond melt silver in a decade.
$200
I don't buy raw coins, period.
I think the most I have spent was around $800 a couple times, but lately it's mostly in the $200 to 300 range.
Gosh, now that I think of it... it's been about 10 years or so since I bid on coins from ebay under the constraints of the OP. At that time, I think the most I spent was $200 or so. These days, the first thing I look for is a return policy!
Edited to add: the last raw coin I purchased from an eBay vendor cost less than $30. It was a 1836 large cent, F12 all day long, pleasant brown color with good surfaces (no pitting). When I got the coin in hand, there was a deep staple scratch on the rim that was masked by the camera angle in the picture. Caveat emptor!
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
it looks like a couple snipers risking cash for a good reward on the coin posted. Definitely some potential in that old holder
I'm afraid that those days are gone....
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
For US coins, I'll only buy certified. There is usually a reason they are not already in slabs.
But tokens and medals are a whole different ball game. The idea of slabbing them is still a novel idea to most collectors, and some of these are 4 and 5 figure pieces.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
My limit is about 50 dollars on a raw coin. I would rather get a slabbed coin and crack it out if I need it for a raw set. There are many opportunities to find coins in ICG or ANACS holders at roughly the same price as a raw coin. Plus I feel comfortable knowing that the coin is most likely authentic, I trust those grading companies to verify authenticity.
I really love it! What did it grade? My WAG is XF45
Those that have said '0' or 'not that much' are missing out big time.
I've made raw purchases up to $2000 and have always profited quite a bit.
That said, the seller must have a large amount of positive feedbacks, been active on Ebay for quite awhile and most important of all, I am thoroughly convinced and confident that the pictures are in excellent detail and is the coin I'll be receiving.
In the case of a great cherrypick of a coin from a seller with 5 feedbacks only, no matter what the price of the coin or the profit I'll be making, I'm staying away.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
I spent $28 on a raw 1868 IHC, crappy pics, no returns because I saw the Snow-13 hub through. It paid off:
In general, I won’t do it unless I see a rare variety or something special (this coin fit the bill). I need good pics and a return policy.
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
This is the God’s honest truth.
I bought three Saint Gaudens $20 coins raw on eBay in 2006 for $1800......sent to PCGS.....all three graded MS64. Never tried anything like that again. My coin dealer Brian at Certified Rarities sent them to PCGS for me. He was amazed at the results......he asked if he could keep them. 😄
$4,000 for me, at least that's what I bid (I won) a few years ago for something. Worked out quite well.
1k to 2k many times
I feel the need to chime in here for a comment. Yes, I wing it. But! I am also a coin photographer and enjoy that aspect of the hobby. I find that it is actually a hobby within a hobby and they both bring me joy in my old age. With that said I do feel as I might have a small edge on most because I understand how a lens interprets the coin, weather imaged correctly or not. I’m sure not saying that if the pic of the coin is all blurry, that my friends is a trick used by many unscrupulous seller to deceive you and any other unsuspecting buyer. My advice would be to steer clear of those raw coins. I’m talking poor lighting or possibly the shutter speed or the aperture is incorrect. All of this comes into play. Another good forum member here, PerryHall, mentioned many good points like , return privileges, and others that make another huge difference. That and I can not express how important it is to be able to grade on your feet. Nothing gives you a bigger edge than that one factor.
It’s a great hobby and if you are not having fun you might want to study up a bit.
Happy hunting, Joe
I search ebay daily, sometimes twice a day , for raw Mercury Dimes. Usually find something every couple of months. Spending limit per coin is usually 70 bucks or less. The last couple of weeks has been pretty good for some reason.
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This was a nice score for a 40 buck coin.
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Another nice one.
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Ken
I've risked up to 300 on ebay the last few years, generally with particular sellers I've been dealing with a long time.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I have risked $4K to $5K on a raw coin but they need to be the right one and it's not a risk if you can get your $$$ back.
Bought this one as a MS60 on Fee bay back in 03 popped it out of it 2x2 and was rewarded a MS62 yes Payday.
Hoard the keys.
I've risked several hundred but still have to get them graded to see how I did.
Now there's the real risk.
"A dog breaks your heart only one time and that is when they pass on". Unknown
Holy cow, that's nice!
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Zero
I recently purchased NGC silver ms69 panda for $24. I bought a really nice CAC Pcgs MS 66 Oregon commem for $241 from auction (non eBay) it’s cac bid is $275.
To spend $4-$5k on raw coin - insane. If spending that kinda money would go with Scott Travers recommendation (CDN podcast) buy slabbed $20 DE close to melt. David Hall also had video recommending similar.
Furthermore I don’t bid on bay auctions with bad pics. There’s a reason their bad.
Furthermore the money I would spend slabbing raw coins I can buy nice slabbed coins at or below bid like a PCGS CAC 65 Bridgeport 50c I won last nite.
I recently listened to a CDN podcast with JA (highly recommend) have bookmarked this part of site. Listen to the experts before spending big bucks.
Depends on the coin, and how much risk/reward there is for me. I buy most of my coins raw off ebay, and I mostly buy gold.
Got my second 1937-D 3-leg off E-Bay after trading in my XF specimen. This is where knowledge comes in. You HAVE to know the diagnostics before purchase.
The coin I paid $500.00 for some years back is an original one owner Montana coin. Of course that's unverifiable, but adds to the story. It did come postmarked from there.
It's a nice AU with some mint luster left on it.
Know about what you buy before pulling the trigger.
Pete
All of it is risk on.
``https://ebay.us/m/KxolR5
Maybe the question should be "What's the most you've risked?" or "How much would you risk based on bad pictures?"
Because the two are far apart.
I bid $6k+ on a rare bust half. I wish it had worked out for me. I returned it. It worked out WAY better for the next guy in line who made $18k profit (a friend).
I have no courage when it comes to bad photos. There are too many factors. How rare? How poor are the pix? What is the return policy? What is the demand?
I suck at risk.
Lance.
Wow, how did your friend realize the profit? Did he get it graded?
I took it to a PCGS Vegas show and it failed to grade..."cleaned". I had a deal with the seller who accepted the terms and refunded my money. (I felt bad, but that was the deal.)
My friend said "Crazy...put me in touch with the seller!" He actually got a better price than I had. It later graded problem-free and was sold to a NJ collector within days.
I'm just not that lucky.
Lance.
It's gonna be raw as soon as I decide to keep it anyway, so...I'll spend just as much as I would if it were slabbed.
As for "no returns" although it probably should for all practical purposes the condition doesn't exist on Ebay. One can always find someway to challenge as SNAD.
US coins zero other than an an occasional colonial under $1000, everything else US is slabbed. Foreign and medals, $1,000+ but not often more than $250. Buying slabbed only is too limiting when it comes to other than US Federal coins.
that depends how well i know the seller (if at all)