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Common coin at an exceptional price
Skrill90
Posts: 264 ✭✭✭
This 1887 Morgan MS63 fairly common coin, but boy this listing is at an astounding price!!
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Yes, it is. Let's see if it sells.
If it "sells," I'm betting it won't be a real sale.
Maybe they believe that it is all about the toning? It is pretty sweet- but not THAT sweet!
Personally, I find such a price ridiculous.... I know collectors can often be ridiculous in their drive to possess...but this one is off the rails...Cheers, RickO
Some might do it to make it seem like a certain type of coin is actually worth the high price it sold for. That same coin might not be offered again but it might attract attention to the seller’s other eBay items (or help him sell it for a lower but still profitable amount via another venue).
And the seller wouldn’t lose anything with a hypothetical “pretend” sale as long as the coin is never paid for (eBay will refund the fees and PayPal fees are never involved as payment is never made).
There are several coin sellers who use ebay for the equivalent of stock pumping. After several rounds - and sometimes planting glowing stories - they will dump their holdings, take the profits and run to the next bunch of suckers. Reminds me of certain low-class real estate developers, too.
I will and have paid a premium for tone...but...not that much.
Too late anyway..."This listing was ended by the seller because there was an error in the listing."
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@oih82w8
"Too late anyway..."This listing was ended by the seller because there was an error in the listing."
Relisted.... seller must have had a few too many comments coming in on the old listing.
To create an artificial price record perhaps? Wait a few months, relist the coin under a new name with the a citation to the old price realized? Bonus points if it makes it into Coin Facts and if the price guides are influenced (wouldn't for this since it is an outlier for toning, but for esoteric pieces that trade rarely, I could see that happening).