Seems extra slow on the BST - are sellers going elsewhere??
Lakesammman
Posts: 17,461 ✭✭✭✭✭
3 days on page 1 - unheard of! 
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
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All the usual venues seem slow for me lately (BST, eBay, Instagram).
The big auctions are still doing well from what I'm seeing.
The sales tax on eBay might be slowing some down (including those that might have purchased on here to resell).
As we age, we forget where we put things.
The big auctions are also charging sales tax
I am thinking that at substantially lower valuations, many potential sellers and hanging on to their once salable coins and waiting for a stronger market.
Everyone is saving up for 31 Oct...
I think GreatCollections has benefited. A lot of CU members have consigned with Ian
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Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Is Great Collections charging sales tax outside of California (I don't see it on their website)?
The big auctions have higher end material that is often harder to find and they tend to cater to clients that are less price sensitive (especially when it comes to a coin that might not show up for sale often) .
The other venues which have more of the everyday items are slowing down. The tax certainly plays a role. People who would pick up a gold oz, Gold Saint, a Morgan, or even a few oz of silver on eBay for a small premium over melt will certainly think twice if that same item includes 5%-10% in taxes. Some will also be more hesitant to buy from the BST if their main selling avenue (eBay) is no longer a viable option (with more buyers needing to pay tax, the prices will need to be lower in order to draw interest when selling).
I won an auction on GC last night and paid today. Wasn’t charged sales tax and I’m in Illinois.
http://www.ebay.com/sch/rs8199/m.html?_nkw=&_armrs=1&_ipg=&_from=
That’s one of the few things Illinois doesn’t tax (yet?)...there is no tax for coins on eBay either for Illinois.
Illinois doesn't have a sales tax on gold and silver. But be quiet about it.
Fall break for many schools falls around this time, might be a few sellers are busy with family events.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
BST is the ski lift for GC.
Couple weeks ago when I undrecked on GC, I considered BST.
Then got real and actually "OFFED" the stuff.
eBay has been dreadfully slow lately.
My sales down 60% vs. same period last year.
But....last year was good...but down is still down and not inspiring.
Seems like some of the stuff I would typically see on the BST are now in places like the Facebook groups or Instagram.
Gonna get me a $50 Octagonal someday. Some. Day.
I have been buying from GreatCollections since late 2015 and I have noticed **strong **prices in 2019. GC is definitely becoming mainstream and gaining momentum. I'm glad the hard work has paid off for Ian, but I'm not finding as many deals as I use to.
I won a coin or two recently and GC did not charge sales tax for Virginia.
Anyone who knows anything about illinois knows how baffling this is and that it wont last but for now it sure is nice. If/when there's an additional tax I'm in trouble, I already bury myself just fine without the tax
Just in case you do not have the State Tax info...who charges ... who is exempt etc... refer to the list below
State/Local Sales Tax Applies to Bullion…
Arkansas: Bullion and numismatic coins are subject to sales tax.
Hawaii: Bullion and numismatic coins are subject to General Excise tax.
Indiana: Bullion and numismatic coins are subject to sales tax.
Kansas: Bullion and numismatic coins are subject to sales tax.
Kentucky: Bullion and numismatic coins are subject to sales tax.
Maine: Bullion and numismatic coins are subject to sales tax.
Mississippi: Bullion and numismatic coins are subject to sales tax.
New Jersey: Bullion and numismatic coins are subject to sales tax.
New Mexico: No state tax exists on bullion or numismatic coins, but a gross receipts tax (on sellers) is imposed.
Ohio now charges sales tax on bullion
Tennessee: Bullion and numismatic coins are subject to sales tax.
Vermont: Bullion and numismatic coins are subject to sales tax.
Wisconsin: Bullion and numismatic coins are subject to sales tax.
District of Columbia: Bullion and numismatic coins are subject to sales tax.
Bullion Exempt upon Certain Conditions…
California: Monetized bullion and numismatic coins exceeding $1,500 have a bulk sales tax exemption.
Connecticut: Bullion and numismatic coins are exempt from sales tax if sale exceeds $1,000.
Florida: Bullion and numismatic coins are exempt from sales tax if sale exceeds $500.
Maryland: Bullion and numismatic coins are exempt from sales tax if sale exceeds $1,000.
Massachusetts: Bullion and numismatic coins are exempt from sales tax if sale exceeds $1,000.
New York: No sales tax is imposed on precious metal bullion or numismatic coin transactions over $1,000. However, the consideration may not exceed the value of the precious metal content of 140% for silver, 120% for gold and 115% for other precious metals. Also, there is a sales tax on precious metal bullion that has been manufactured, processed, assembled, fabricated or used for an industrial, aesthetic or artistic purposes.
Virginia: Bullion and numismatic coins are exempt from sales tax if sale exceeds $1,000. (No requirement that the precious metals be of the same type.)
Wyoming: Gold and silver used as legal tender are exempt.
Bullion is NOT Taxable (Exempt)…
Alabama: Bullion and numismatic coins are exempt from sales tax.
Arizona: Bullion and numismatic coins are exempt from sales tax.
Colorado: Bullion is exempt. Not all numismatic pieces are exempt. Jewelry and commemoratives are taxable.
Georgia: Bullion and numismatic coins are exempt from sales tax. Proper documentation is needed.
Idaho: Bullion and numismatic coins are exempt from sales tax.
Illinois: Bullion and numismatic coins are exempt from sales tax.
Iowa: Bullion and numismatic coins are exempt from sales tax.
Louisiana: Bullion is exempt.
Michigan: Bullion and numismatic coins are exempt from sales tax.
Minnesota: Bullion and numismatic coins are exempt from sales tax.
Missouri: Bullion and numismatic coins are exempt from sales tax.
Nebraska: Bullion and numismatic coins are exempt from sales tax.
Nevada: Bullion is exempt. It is taxable if the sales price exceeds the face value of numismatic coins by 50 percent.
North Carolina: Bullion and numismatic coins are exempt from sales tax.
North Dakota: Bullion and numismatic coins are exempt from sales tax.
Oklahoma: Bullion and numismatic coins are exempt from sales tax. Fabricated metals that are processed or manufactured for artistic use or as jewelry are taxable.
Pennsylvania: Bullion and numismatic coins are exempt from sales tax.
Rhode Island: Bullion and numismatic coins are exempt from sales tax. Fabricated precious metal that has been processed or manufactured for one or more specific and customary industrial, professional or artistic uses is not exempt.
South Carolina: Bullion and numismatic coins are exempt from sales tax.
South Dakota: Bullion and numismatic coins are exempt from sales tax.
Texas: Bullion and numismatic coins are exempt from sales tax.
Utah: Bullion and numismatic coins are exempt from sales tax.
Washington: Bullion and numismatic coins are exempt from sales tax.
West Virginia does not tax bullion as of March 2019
No State Sales Tax…
Alaska: Bullion and numismatic coins are exempt from sales tax.
Delaware: No State Sales Tax (Bullion and numismatic coins are exempt).
Montana: Bullion and numismatic coins are exempt from sales tax.
New Hampshire: No State Sales Tax (Bullion and numismatic coins are exempt).
Oregon: No state sales tax, Bullion and numismatic coins are exempt.
https://www.marketwatch.com/story/investors-are-pivoting-to-cash-thats-not-a-good-sign-2019-10-08?mod=mw_latestnews
*"Investors are moving more and more money to cash in a sign of mounting skepticism about the ability of financial markets and the economy to deliver more growth.
An analysis from research firm DataTrek, drawing on fund flow data from the Investment Company Institute, shows that there was $3.4 trillion in U.S. money market funds as of October 2. That’s about 14% higher than at the end of 2018, and has risen nearly every week since May."*
We switched out 100% of our stock fund to a money market capital preservation fund. Waiting for Dow 18,000 to get back in.
Rasing cash on the coin biz to be able to buy, buy, buy.
@OPA, I think Ohio now charges sales tax on bullion. This is a very recent change.
W. David Perkins Numismatics - http://www.davidperkinsrarecoins.com/ - 25+ Years ANA, ANS, NLG, NBS, LM JRCS, LSCC, EAC, TAMS, LM CWTS, CSNS, FUN
I have avoided eBay lately. The state in which I live has numismatic coins and bullion exempt from sales tax. It sucks trying to buy a $500 coin and get hit with 7%+ on an item that should be tax exempt. Instagram has been slow. I have put coins out and offered them cheap. I ended up consigning with Great Collections and some of the coins went for more than I was offering them on IG. I will def. sell through them again!
The eBay searches I make have had fairly constant, maybe slightly decreasing listing numbers over the last 5 years. However, I think the split is more in favor of BIN versus auction these days. That leads me to believe the number of coins that sell in any given week are down significantly.
BST doesn't get enough eyes on it to move a lot of good material.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
I need to sell most of my collection, but dont want to take a bath on doing so.
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,...
Thanks for the heads up. I've modified the list. BTW do you know if they charge a tax on coins or paper money like the rest that do?
What State do you live in? Also, isn't there a buyers commission with GC?
Looking at the tax as paying a premium, it's hard to justify paying a 10% premium on a 1 ounce gold bar when people here used to gripe about a $25 premium on AGEs LOL.
I think that eBay is just becoming a less desirable forum to sell, part of it due to sales taxes and part of it due to less than desirable management of the site.
Reddit is place I like to sell coins/bullion....just like Instagram, Facebook and other forums. It's more geared towards the lower end of the spectrum since its more of the younger crowd, however, I've bought and sold items from $1-$3,500 for 5+ years without any issues. As you can see, there are 9,236 users subbed to the pmsforsale sub and 5,903 for the coins4sale sub, so a decent number of eyes. I know a bunch of other PCGS forum users also buy/sell coins and bullion there as well:
https://reddit.com/r/Coins4Sale/
https://reddit.com/r/Pmsforsale/
Feel free to PM me if you need any pointers.
Harder to find yes, but most coins offered by auction houses are not hard to find. It is only a low minority.
Maybe items aren't selling because the ask price is too high. I don't look on the BST but most listings I see on eBay are offered at inflated if not absurd fantasy ask prices.
That’s part of the story, but eBay and the BST have had overpriced and fairly priced items for many years now. And yet it is still getting slower.
I’ve also noticed items that don’t draw any interest sell for more when auctioned. There was a toned Morgan on Instagram that had no takers when it was priced in the mid $300s. It went to auction at GC and realized more than $1k. I’ve also watched some items sell at auction for more than similar items were available for on eBay as buy it nows.
Agreed
OPA.
Need to update some of your info
West Virginia does not tax billion as of March of this year
https://www.soundmoneydefense.org/news/2019/03/08/west-virginia-tax-gold-silver-000211
I'm seeing a lot of the sales I used to see on ebay move to Facebook / Instagram and the like. Like others have said, people want to avoid fees, while still feeling protected with paypal G&S.
Then do it with only a sponge.
Bad advice... but humorous as usual.
I'm selling for good money or else I'm not selling. I refuse to be taken....
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
ot hard to find. It is only a low minority.
This happens a lot. Some people just can't help themselves on auction. Look at some modern mint products on eBay. You'll often see an auction for something like a 2019-S Silver Eagle (PCGS 69 or 70) sell for a higher number than MULTIPLE Buy It Nows.
The customer may always be right, but they aren't always that careful or that smart.
Even locally, I will often see BU common date Morgan dollars sell at a local auction for $50+ when BOTH local B&M's have them at $30-$35.
PMs on Reddit tend to trade quickly at spot. Warning: those with egos tend to get spanked by that group,LOL
I think this is really confirmation bias that misleads your perception. SOME items may move around, but the total volume on eBay is orders of magnitude higher than FB or Insta.
Perhaps. I don't know that there are any real numbers to support my claim. In truth, I'm not on facebook for much else other than coins. However, in the past several years I've seen the number of people joining these FB/Instagram groups increase quite rapidly, and the coins offered for sale cycle though at a much higher rate than before. Also, I feel like I'm seeing less "new" material on ebay. Instead, it is just the same old BIN's or high starting bid auctions that have been on the site for years. Admittedly, I collect mostly one series so my scope is not broad. And I'm also committing the Post Hoc fallacy with the correlation and no real evidence. So it's just anecdotal on my part.
I recently posted some dredge dreck on the BST offering a 15% discount off book. I got like one hit and he ignorantly asked me the price and once I did the math FOR HIM, he said "No thanks"...
I replied something like " No problem it's an ugly as.. coin anyways, LOL.
Of course he/she/dip shot had less than something like 50 posts so, go figure another squirrel looking for a nut.
I was just trying to avoid the bays fee's but, c'mon man you can't have it both ways...
That's a little harsh. Lots of people will look at a coin and not buy it. My eBay listings often have dozens of lookers and not bidders. Even when they have watchers, there's about a 4:1 watcher to bidder ratio.
Which part? Me or him?
Non coins ebay sales for me are staying around 40% sell through. I get 300 free listings a month on 2 ID's, and sell about 120 per month net net. Occasionally I toss in coin the mix on my non business id. Actual sales are a little higher, as the 120 is listings that are "sold out" and some may have a quantity of 5, and it takes a few months to zero out.
you
I figured as much. But remember I'm not a seller (for a living) so, I'am a seller to progress and steam along this path. Apparently, I will not sell for too much less than I have invested otherwise I will keep and move along...
Coins are new to me business however, is not. Every opportunity you miss is an opportunity I gain.
Rest assured, I appreciate YOUR knowledge of both
I'm not saying you had to sell to him or that your price was unfair. I'm just saying that there are a lot of lookers for every buyer and I wouldn't condemn the lookers. If he didn't buy this time, he might buy the next time. Well, unless he sees you calling him out. LOL.