What's This I Hear About eBay Stopping Coin Sales in 2021?

giorgio11 · May 23, 2020 11:54AM

Can somebody succinctly tell me what this is all about without the thread degenerating into a bash-eBay day? I have never sold a great deal there, as I use it mostly in hopes that people will think, "Hmm, maybe this gomer has a website where the prices are cheaper." And yes I do, and yes they are, for the few coins I list on eBay. And I know there are several other dealers here who have great-looking websites (some recently redesigned like ours), so standing invitation is issued to check them out (ours and others'). Now, what's the deal with eBay? Are there any qualifications around that? All I have heard are a couple of vague rumors.

And I thankee-sai and wish you long days and pleasant nights. (I'm in a Stephen King kinda mood right now.)

Kind regards,

George

ricko · May 23, 2020 11:57AM

I have not heard of this at all... I would think it would have been posted here by now. If not, there will soon be multiple, major threads on it. Cheers, RickO

Sonorandesertrat · May 23, 2020 12:02PM

I am not aware of any such plan either.

CoinJunkie · May 23, 2020 12:07PM

Source?

giorgio11 · May 23, 2020 12:15PM

A very murky thread, among others. I don't know what Managed Payments are, and don't know what Adyen is, either. I've gotten used to PayPal, and I'm just one not very high-tech guy trying to make a living. (My tech support is mostly me. Gulp.)

But for what it's worth ...

https://community.ebay.com/t5/Selling/In-2021-eBay-will-no-longer-allow-the-sale-or-purchase-of-Coins/td-p/30666292

Kind regards,

George

topstuf · May 23, 2020 12:32PM

I would GUESS that the sales tax and various other expenses are biting deep into coin sales.
It would be easy to address that issue through the eBay site itself.
Coins are a low profit item and there are ways they could still be sold without a ton of hurdles.

Great Collections is making huge inroads into coins. Glossy catalogs and a lot of new listings on "power" coins.

I can't see eBay ignoring GC's popularity.

MFeld · May 23, 2020 12:39PM

@topstuf said:
I would GUESS that the sales tax and various other expenses are biting deep into coin sales.
It would be easy to address that issue through the eBay site itself.
Coins are a low profit item and there are ways they could still be sold without a ton of hurdles.

Great Collections is making huge inroads into coins. Glossy catalogs and a lot of new listings on "power" coins.

I can't see eBay ignoring GC's popularity.

I can’t see EBay paying attention to GC’s (or anyone else’s) popularity. There are countless coins of various types and/or grades that aren’t typically offered by most auction companies.

jwitten · May 23, 2020 12:40PM

I have also seen this. The money system they are moving too does not allow for coin purchases, along with a few other large categories, like cars. Seems like they need to figure something out, quickly.

coinbuf · May 23, 2020 12:44PM

@jwitten said:
I have also seen this. The money system they are moving too does not allow for coin purchases, along with a few other large categories, like cars. Seems like they need to figure something out, quickly.

So are you saying that Ebay will no longer allow for paypal payments?

Outhaul · May 23, 2020 12:47PM

Kill their goose laying their golden eggs?

GRANDAM · May 23, 2020 12:53PM

Where the #1 & #2 PCGS Board Member defenders of eBay?

Can you explain how this will be a good thing?

amwldcoin · May 23, 2020 12:58PM

I read a bit of that ebay blog. What I find is funny is I was invited into the Managed Payment system when it was 1st rolled out. Being an all but exclusive seller of coins why would I be invited ? I will say this. I absolutely want no part of ebay handling my funds in the same way amazon does.

dpoole · May 23, 2020 1:00PM

What the heck is Adyen? I thought PayPal handled Ebay payments.

GRANDAM · May 23, 2020 1:10PM

@ianrussell what say you?

Maybe Great Collections could set-up another venue on their site similar to eBay where a seller can list his auctions himself, the seller ships everything and Great Collections gets a fee hopefully lower than what eBay is robbing us for now.

Alot of people including myself are fed-up with how eBay does things.

Ian already has the site and it would take just a little bit of effort for them to create this alternate selling venue,

GC would not have to deal with all the time consuming processes involved with receiving and processing all these small dollar items we sell on eBay. The seller would have the choice to list anything including small dollar items and the BIG dollar items on either site. I think this would streamline Great Collections process and should reduce labor & process costs by not handling everything and GC stills making money on selling them via their site. They probably can net more money selling this way especially on small dollar items and not handling everything themselves.

goldrealmoney79 · May 23, 2020 1:10PM

@dpoole said:
What the heck is Adyen? I thought PayPal handled Ebay payments.

They are moving away from paypal to a payment provider by the name of adyen. Slowly transitioning sellers.

topstuf · May 23, 2020 1:42PM

@GRANDAM said:
@ianrussell what say you?

Maybe Great Collections could set-up another venue on their site similar to eBay where a seller can list his auctions himself, the seller ships everything and Great Collections gets a fee hopefully lower than what eBay is robbing us for now.

Alot of people including myself are fed-up with how eBay does things.

Ian already has the site and it would take just a little bit of effort for them to create this alternate selling venue,

GC would not have to deal with all the time consuming processes involved with receiving and processing all these small dollar items we sell on eBay. The seller would have the choice to list anything including small dollar items and the BIG dollar items on either site. I think this would streamline Great Collections process and should reduce labor & process costs by not handling everything and GC stills making money on selling them via their site. They probably can net more money selling this way especially on small dollar items and not handling everything themselves.

Doubt that. Sounds like a real mess.
Sellers could start websites and have internal payments and do the grading and autheniction and....and... and...

Dave99B · May 23, 2020 1:43PM

eBay will stop selling coins the same day pigs fly ....

Dave

GRANDAM · May 23, 2020 1:44PM

Just an idea,,,,,, wether Ian does it or not IF eBay does as stated above somebody will do it and make alot of money doing so.

topstuf · May 23, 2020 1:44PM

@MFeld said:

I can’t see EBay paying attention to GC’s (or anyone else’s) popularity. There are countless coins of various types and/or grades that aren’t typically offered by most auction companies.

AHA Heritage Grab Bags
There. done.

Swampboy · May 23, 2020 1:48PM

As to @giorgio11 's query I will say I don't see any evidence that coin sales will be prohibited on eBay despite the thread titles here and also in The eBay Community..

eBay Customer Service says.....
Certain items are not allowed to be listed by sellers participating in managed payments, even though those items may be allowed on eBay.

The further question is if I don't participate can I still accept PayPal?

Zoins · May 23, 2020 1:48PM

The title of that post is completely false:

In 2021 eBay will no longer allow the sale or purchase of Coins, Motor Vehicles, or Bullion

Basically, if you want to sell coins, cars, event tickets, etc. you can't be enrolled in managed payments.

AlexinPA · May 23, 2020 1:51PM

Couldn't care less. Haven't bought a coin off ebay in years.

selling3 · May 23, 2020 2:14PM

@giorgio11 said:
A very murky thread, among others. I don't know what Managed Payments are, and don't know what Adyen is, either. I've gotten used to PayPal, and I'm just one not very high-tech guy trying to make a living. (My tech support is mostly me. Gulp.)

But for what it's worth ...

https://community.ebay.com/t5/Selling/In-2021-eBay-will-no-longer-allow-the-sale-or-purchase-of-Coins/td-p/30666292

Kind regards,

George

And after 4 pages there's no comment by Ebay to clear this up?

giorgio11 · May 23, 2020 2:26PM

@Zoins said:
The title of that post is completely false:

In 2021 eBay will no longer allow the sale or purchase of Coins, Motor Vehicles, or Bullion

Basically, if you want to sell coins, cars, event tickets, etc. you can't be enrolled in managed payments.

But it looks like all U.S. sellers will have to be enrolled in managed payments (whatever they are, and not that I want to) by 2021?

eBay does make a habit of being, to my mind, pretty opaque on a lot of their policies.

Zoins · May 23, 2020 2:32PM

@giorgio11 said:

@Zoins said:
The title of that post is completely false:

In 2021 eBay will no longer allow the sale or purchase of Coins, Motor Vehicles, or Bullion

Basically, if you want to sell coins, cars, event tickets, etc. you can't be enrolled in managed payments.

But it looks like all U.S. sellers will have to be enrolled in managed payments (whatever they are, and not that I want to) by 2021?

eBay does make a habit of being, to my mind, pretty opaque on a lot of their policies.

Where does it say all US sellers will have to be enrolled in managed payments by 2021?

keets · May 23, 2020 2:34PM

what percentage of overall eBay sales is related to Coins, Currency and Bullion??

hammer1 · May 23, 2020 2:53PM

@1peter1223 said:

Why would Coins and Motor vehicles be singled out ?

More SNADS than all other items?

GRANDAM · May 23, 2020 3:02PM

If eBay would answer their phones I would call and ask but I haven't been able to get anything except a recording for 2 months now.

Zoins · May 23, 2020 3:02PM

Basically, they want to make mainline items more like Amazon. I wouldn't be surprised if they end up doing fulfillment later as well.

Kudbegud · May 23, 2020 3:11PM

As the implantation date approaches I'm anticipating there will be clarification from EBay which will be posted in this thread. There has to be. Right?

jdimmick · May 23, 2020 3:20PM

say what you want, without ebay I couldn't get rid of the bulk of crap that comes in. Yes, GC and other firms are fine for the coins that count, but countless other stuff ebay is the place to move it. I believe if this were to happen, and coins were not allowed to be sold there, I would just pull the plug, close the shop, and retire.

Zoins · May 23, 2020 3:24PM

@jdimmick said:
say what you want, without ebay I couldn't get rid of the bulk of crap that comes in. Yes, GC and other firms are fine for the coins that count, but countless other stuff ebay is the place to move it. I believe if this were to happen, and coins were not allowed to be sold there, I would just pull the plug, close the shop, and retire.

Perhaps this could convince Ian to branch out?

Cameonut · May 23, 2020 3:24PM

I would guess Ebay stock would take a huge hit if they abandon a significant source of revenue.

bronzemat · May 23, 2020 3:28PM

My enjoyment of the hobby will definitely dwindle if this happens. I enjoy the hunt, as well as most of my coins, come from ebay.

jt88 · May 23, 2020 3:30PM

Well if I can’t list on eBay, I believe that will drive more business to my site.

derryb · May 23, 2020 3:33PM

@selling3 said:

@giorgio11 said:
A very murky thread, among others. I don't know what Managed Payments are, and don't know what Adyen is, either. I've gotten used to PayPal, and I'm just one not very high-tech guy trying to make a living. (My tech support is mostly me. Gulp.)

And after 4 pages there's no comment by Ebay to clear this up?

The second post in the ebay community blog provides an ebay link that says this: "Certain items are not allowed to be listed by sellers participating in managed payments, even though those items may be allowed on eBay."

So, it stands to reason that some items allowed on ebay that are not allowed to be listed by sellers participating in managed payments will have to be paid for using a different method. Most likely direct acceptance of credit cards by the seller. I would look for the fuller rollout of the "managed payment system" to be an effort by ebay to rid itself of paypal.

jabba · May 23, 2020 3:46PM

I hope not I don’t sell there anymore just GC now but I love to buy on eBay

hammer1 · May 23, 2020 4:45PM

@1peter1223 said:

The items are not the problem . It's the sellers .

Doesn't matter which one. SNAD= Returns = headaches for EBay.

jmlanzaf · May 23, 2020 5:20PM

@MFeld said:

@topstuf said:
I would GUESS that the sales tax and various other expenses are biting deep into coin sales.
It would be easy to address that issue through the eBay site itself.
Coins are a low profit item and there are ways they could still be sold without a ton of hurdles.

Great Collections is making huge inroads into coins. Glossy catalogs and a lot of new listings on "power" coins.

I can't see eBay ignoring GC's popularity.

I can’t see EBay paying attention to GC’s (or anyone else’s) popularity. There are countless coins of various types and/or grades that aren’t typically offered by most auction companies.

Agree. GC is not a competitor of eBay.

jmlanzaf · May 23, 2020 5:22PM

@GRANDAM said:
@ianrussell what say you?

Maybe Great Collections could set-up another venue on their site similar to eBay where a seller can list his auctions himself, the seller ships everything and Great Collections gets a fee hopefully lower than what eBay is robbing us for now.

Alot of people including myself are fed-up with how eBay does things.

Ian already has the site and it would take just a little bit of effort for them to create this alternate selling venue,

GC would not have to deal with all the time consuming processes involved with receiving and processing all these small dollar items we sell on eBay. The seller would have the choice to list anything including small dollar items and the BIG dollar items on either site. I think this would streamline Great Collections process and should reduce labor & process costs by not handling everything and GC stills making money on selling them via their site. They probably can net more money selling this way especially on small dollar items and not handling everything themselves.

This borders on silly. Ian couldn't do it cheaper than eBay unless he removes all the buyer and seller protections. In that case, why would anyone use it?

It's also not a "little bit of effort" to go from running a thousand curated items per week to hundreds of thousands of items that are being listed from external sites. Just the server infrastructure required to operate such a site is orders of magnitude greater than GC is currently utilizing.

jmlanzaf · May 23, 2020 5:23PM

@keets said:
what percentage of overall eBay sales is related to Coins, Currency and Bullion??

I looked it up once. It was approximately 2%.

https://trends.edison.tech/research/2018-ebay-vs-amazon.html

jmlanzaf · May 23, 2020 5:23PM

@jwitten said:
I have also seen this. The money system they are moving too does not allow for coin purchases, along with a few other large categories, like cars. Seems like they need to figure something out, quickly.

I thought PayPal was going to remain an option along with Aden?

jmlanzaf · May 23, 2020 5:24PM

@1peter1223 said:

@hammer1 said:

More SNADS than all other items?

But they ( Ebay ) remedy that by warning those sellers and eventually suspending or closing the accounts of chronic problematic sellers .

The Ebay, PayPal money back guarantee is tilted in buyers favor . That is one of the reasons .

Many other categories besides coins are big in SNAD cases . Used items ( electronics , power tools , machinery , etc . ) , other collectibles , fashion ( fake knock off's are BIG ) , jewelry , etc.

The items are not the problem . It's the sellers . If the seller is not sure of the authenticity of coin or is purposely trying to scam a buyer they should not be on Ebay at all .

If the seller is unsure of exactly what it is they are selling , its condition , how it works , etc , they should not be selling those items .

There are NOT MORE SNADS in coins. People just make this stuff up. I swear. Clothing and jewelry have far more returns than coins.

https://zikanalytics.com/Blog/Post/ebay-return-policy-complete-overview

Azurescens · May 23, 2020 5:28PM

@amwldcoin said:
I read a bit of that ebay blog. What I find is funny is I was invited into the Managed Payment system when it was 1st rolled out. Being an all but exclusive seller of coins why would I be invited ? I will say this. I absolutely want no part of ebay handling my funds in the same way amazon does.

It's the worst way to rely on income. They pay out randomly and sometimes seems like they're making their own choices. Money deposited 23:59 Thursday doesn't hit until Monday. I used to have a holding period that would give me defined deposits. They got rid of it and now I never know what's coming. I have a general idea but it's not really an interface like that.

jmlanzaf · May 23, 2020 5:29PM

@goldrealmoney79 said:

@dpoole said:
What the heck is Adyen? I thought PayPal handled Ebay payments.

They are moving away from paypal to a payment provider by the name of adyen. Slowly transitioning sellers.

But I thought they had, after long negotiations, reached agreement with PayPal to keep them as an option. They are just not exclusive anymore.

jmlanzaf · May 23, 2020 5:30PM

@hammer1 said:

@1peter1223 said:

The items are not the problem . It's the sellers .

Doesn't matter which one. SNAD= Returns = headaches for EBay.

SNAD causes about zero headaches for eBay. The cost and details fall on the sellers. Not to mention that coins and collectibles do not have unnaturally high return rates relative to other, larger categories like clothing.

ReadyFireAim · May 23, 2020 5:41PM

Will this be another "GunBroker" thing?

When eBay changed its policies to prohibit the auction of firearms and firearm parts (such as barrels, magazines and trigger assemblies, essentially any part involved in the firing of a gun), thousands of gun and part auctions migrated to GunBroker.com. In 2008

https://en.wikipedia.org/wiki/GunBroker.com

jmlanzaf · May 23, 2020 5:48PM

@Cameonut said:
I would guess Ebay stock would take a huge hit if they abandon a significant source of revenue.

It's not that significant.

https://trends.edison.tech/research/2018-ebay-vs-amazon.html

That said, this appears to be still in negotiation with the payment manager. So...stay tuned.

DIMEMAN · May 23, 2020 5:55PM

It's hard for me to believe that coins only account for 2% of Ebay sales.

BLUEJAYWAY · May 23, 2020 5:59PM

If this were to be implemented there goes many of the arguments,er excuse me, discussions. Would hit this forum hard in the subject matter department.

Jimnight · May 23, 2020 6:06PM

I haven't heard anything.

What's This I Hear About eBay Stopping Coin Sales in 2021?

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