In need of advice for selling coins
Wahoo554
Posts: 1,151 ✭✭✭✭✭
I have some nice coins I’d like to sell to help fund some new/refined collection targets. I’ve never sold anything on eBay and not really interested in Heritage/Stacks for these items. BST on this forum looks like a good option. I’m quite leery of online transactions with strangers since I can think of a host of things that can go wrong, but it appears this is my best option for getting a good price. Would appreciate general advice that more experienced sellers can offer concerning land mines/pitfalls to look out for whether selling on eBay or through BST. Also, if you have general suggestions concerning shipping/insurance that would be very helpful. Appreciate any and all tips. Thanks!
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How you should sell will depend on what you have sell. You haven't given enough information in your first post to generate any useful replies. Please provide more detail on what you are trying to sell.
In general terms:
-if you have an eBay account with feedback, even if it was just from buying, that might be an option for certain items
-GreatCollections for certain material (check recent sales prices there to see if that venue works)
-BST ...usually normal PayPal (G&S) is the way to go to give the buyer confidence...many would be suspicious of a non-fee payment method with a new/low post member....if you’re not comfortable with someone who is making an offer, ask for references
Depends on what you selling...eye appeal is buy appeal.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
The keys to selling on Ebay or the BST are good pictures and proper grading and pricing.
If you can't take good pictures, find someone who can.
Checking completed BIN auctions will give you a pretty good idea of actual selling prices, but you need to know how to grade or have help here, unless you are selling certified coins.
Good point, right now I’m looking to sell an 1848 AU 55 CAC half eagle and an 1836 AU 58 CAC half dollar, lettered edge. Both NGC. Also interested in selling some common date MS 64 saints and liberty double eagles. In other words, no big ticket items, but expensive enough that I want to be careful.
I highly recommend BST on this forum. Many many experienced and long standing members of this forum provide many opportunities for you to sell your coins.
The bay ... you never know what you will encounter.
Top 10 Cal Fractional Type Set
successful BST with Ankurj, BigAl, Bullsitter, CommemKing, DCW(7), Downtown1974, Elmerfusterpuck, Joelewis, Mach1ne, Minuteman810430, Modcrewman, Nankraut, Nederveit2, Philographer(5), Proofcollection, Realgator, Silverpop, SurfinxHI, TomB and Yorkshireman(3)
Look at auction records on pcgs coin facts to have an idea about what it goes for at auction
Several of us would be interested in those coins. Try listing here, and only deal with those with high post counts if yuo want to be careful.
Sell them on eBay - safest way - you usually have recourse if a buyer tries to rip you off. BST is where people sell to avoid the extra fees of eBay/PayPal but it’s riskier. If you don’t want the risk, pay the higher fees and go to eBay. Post count on an Internet forum isn’t a reflection of trustworthiness imo.
Actually, buyers have more recourse on ebay than here, meaning it is riskier for sellers on ebay than here.
I was under the impression that eBay does much more to protect buyer rather than seller. What is your recourse if a dishonest buyer alleges you didn’t send the right coin? If you have signature confirmation on delivery will eBay consider that proof that you in fact successfully shipped coin if buyer alleges otherwise or lies and says package was empty?
Both true and false. Buyers have recourse against sellers who ship items not as described and may return said items for a full refund.
Sellers have recourse because if you send an item to a buyer and the buyer signs for it it, eBay/PayPal will make sure you get your money. If the buyer reversed credit card charges or otherwise tries to rip you off, generally eBay/PayPal will make it their problem, not yours.
On BST, good luck trying to be made whole if someone claims they didn’t receive the item, writes a bad check or otherwise defrauds you. Not saying BST is bad - I’ve done a few deals there without issue. But comparing the protections sellers have there vs eBay/PayPal is no comparison.
In the cases I’ve read about, you have to go through CS but in the end, the sellers were made whole. I have had 2 cases where eBay/PayPal ate costs - both due to buyer claiming they forgot to update shipping addresses and they didn’t get items even though the mail showed delivered. I got my money without hiccup in both cases.
If you sell on BST, you can still use paypal. Many do. And if you prefer check/money order, wait until it clears. Then buyer has zero recourse. Getting ebay involved just gives you one more party to possibly side against you as a seller.
Think you’d make more on items -
particularly gold - as a low post count seller who demands payment completely cleared before sending the goods than you would lose through eBay/PayPal fees?
Suppose it’s a different issue than protection - you are correct that a seller who waits for check or MO payment to clear before shipping leaves the buyer with little recourse. But ultimately it’s about which is best for the OP. And as a buyer I would certainly want a screaming deal in lieu of protection. Frankly once you involve PayPal you’re already in for at least half the fees - might as well drop that other foot and expose your item to the greater marketplace where buyers actually have some protection and don’t want such a screaming deal to forsake it.
I've bought a lot on ebay and the BST. I think I've been duped more often by sub-par photos, incomplete descriptions, etc, on ebay than the BST. On ebay, if I only have 150 or so positives, I risk a retaliatory neg if I leave a true accounting of the transaction from someone with 5000+ positives that sold me a sub-par coin. This, and I have to calculate the dollar value at which I'm comfortable just "parting ways"... On the BST, if you have good communication skills and build a rapport with people, you should be ok...
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.
Sellers can't leave negative for buyers on ebay, so don;t worry about retaliation. If you are using your selling account to buy as well.... well, create a new account just for buying, lol.
Just sell them to me. I'll screw you for less.
``https://ebay.us/m/KxolR5
You really need to figure out the value based on condition. This is why much is offered about using the various coin resources to come up with a value. lots of problems include is the coin real, condition based on grading standards, post mint damage, nicks, marks, stains, spots, corrosion, etc. all knock the value down. Rarity could increase the value of any coin regardless of condition but nicer is better. You really need to talk to someone and start building relationships with experienced collectors. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
Thanks to all. I believe I have a good understanding of the market value for these particular items based on studying auction results, etc. pricing isn’t too much of a concern. Mainly just don’t want to get hosed by unscrupulous buyers. BST sounds like a good option so long as there’s some mutual vetting. You can usually get a good feel for a person by just having a phone call. As a new member on this forum I’m sure any buyer would want to vet me first and rightfully so.
Send everything to CAC and solicit bids from CAC on what stickers. Compare the CAC bids to recent auction records. In many cases, you will net more from a CAC bid without needing to take photos or deal with hassles and you can forgo auction commissions and delays. In this choppy market, I HATE auctions from a selling stand point unless the coins truly are one of a kind. This is one of things that I really like about CACed coins - they are pretty much instantly liquid. The generic gold market is tough. Try the BST if you can snap some images, or go the CAC route as posted above.
If they were my coins I'd drop them in a Fedex envelope and send them to Ian at Great Collections and wait for the check to show up in a month...
Ian and Raeleen are great, but you would take a blood bath on generic gold at ANY auction house not matter how great. Auctioning those would be a very poor strategy IMHO. These don't trade much better than bullion and you are going to instantly take a 10-12.5% hair cut based on auction commissions and other fees.
For what you have and the worth this is the best road to take.JMO
Interesting. Is it an option to contact CAC as a non-dealer, let them know what stickered coins you have for sale and then ask if they would be interested in bidding on them, and then they will bid sight unseen?
Your coins, I think, would get the proper attention on Great Collections. I wouldn’t buy gold coins on eBay, so I sure wouldn’t sell them there either.
You don't need to be a dealer, and I don't think you even need to be a member. Just shoot an email to info@caccoin.com with a list of the coins you have that have stickered and ask for their buy prices. If you like the offer, you mail them the package and they will mail you a check. It is really that easy.
If you have coins that have not stickered, you can submit them through a dealer or a collector with submission privileges. (Collectors aren't charged for coins that aren't sticker so there is some advantage in that).
They must have updated their terms at some point. I recall this being a bit of a sticking point with me.
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.
Your coins don't appear to be what the "market" wants these days. The generic gold is going to go for whatever generic gold brings at the moment. The 1848 Half Eagle and 1836 Half Dollar will do OK but are not likely to generate any special interest. Neither coin is rare and what the market wants these days is rare. If you get what appears to be a reasonable offer on any of your items take the cash, be happy and walk away. Don't waste time or money trying to wring every last dollar out of what you have.
In the future be very selective in what you purchase. Ask yourself: "Is this what the "market" will want when it comes time to sell?"