What's This I Hear About eBay Stopping Coin Sales in 2021?
giorgio11
Posts: 4,278 ✭✭✭✭✭
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
Comments
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
I am not aware of any such plan either.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Source?
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
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.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
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?
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Kill their goose laying their golden eggs?
Where the #1 & #2 PCGS Board Member defenders of eBay?
Can you explain how this will be a good thing?
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.
What the heck is Adyen? I thought PayPal handled Ebay payments.
Here's a warning parable for coin collectors...
@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.
They are moving away from paypal to a payment provider by the name of adyen. Slowly transitioning sellers.
Doubt that. Sounds like a real mess.
Sellers could start websites and have internal payments and do the grading and autheniction and....and... and...
eBay will stop selling coins the same day pigs fly ....
Dave
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.
AHA Heritage Grab Bags
There. done.
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?
"Inspiration exists, but it has to find you working" Pablo Picasso
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.
Couldn't care less. Haven't bought a coin off ebay in years.
And after 4 pages there's no comment by Ebay to clear this up?
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?
what percentage of overall eBay sales is related to Coins, Currency and Bullion??
More SNADS than all other items?
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.
Basically, they want to make mainline items more like Amazon. I wouldn't be surprised if they end up doing fulfillment later as well.
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?
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?
I would guess Ebay stock would take a huge hit if they abandon a significant source of revenue.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
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.
Well if I can’t list on eBay, I believe that will drive more business to my site.
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.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
I hope not I don’t sell there anymore just GC now but I love to buy on eBay
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/publishedset/209923
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/album/209923
Doesn't matter which one. SNAD= Returns = headaches for EBay.
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.
Will this be another "GunBroker" thing?
https://en.wikipedia.org/wiki/GunBroker.com
My Saint Set
It's hard for me to believe that coins only account for 2% of Ebay sales.
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.
I haven't heard anything.