As far as flippers in general go, isn’t that how coins move around and eventually find their forever home? I didn’t find any of my non-bullion coins in change so ai assume they all had several owners before me and hopefully everyone along the way made some money on it.
I bought a coin at a show in El Paso that the dealer had owned for less than 30 minutes. I got a good deal, he made some money, and the guy he bought it from probably did, too.
It’s the way it goes. I wasn’t going to be able to buy it from the guy the dealer bought it from, so he had to flip it to me.
Coins change hands multiple times at a single show sometimes and eventually an end-user comes along to sock it way for awhile.
@U1chicago said:
If the offer was 20% over the last sale, after eBay fees and shipping it’s about a 4-5% profit. So I could see the seller rejecting it.
If it’s me selling something I’m not attached to, I would take a 20% profit in most cases but some sellers hold out for the absolute max. Sometimes you just have to wait it out until the coin shows back up for an auction (and might go lower than the first sale), move on to something else, or pay up if it’s a must have (doesn’t sound like that is the case here).
Yes 5c on the dollar does not cut it in the coin biz lol. Coins that are PQ high demand: sellers - hold out for all the money.
But coins do find their final home (end user) flipped around the RCI market place. So thanks to the flippers in getting that coin to the that collector / end user. Yay!
@Rampage said:
Years ago, and I mean years, one of our very own forum members (who is now banned) came on here bragging (like, really bragging) about how he ripped a rare error coin (IKE dollar off centered on a foreign planchet) off an unknowing seller on eBay. The coin had many bids on it from not only me, but others on here, too. At the time, the coin was only bid up to a couple of hundred dollars in the first day. The, now banned, forum member convinced the seller to end the auction early for $300.00.
The ex-forum member was hammered for weeks afterwards by various forum members about what he had done and how he went about it and about how he bragged about it.
He subsequently got it holdered by PCGS and listed it for years on eBay for $10,000. He eventually (in the last couple of years) sold it to someone.
I will never buy a single coin from that person. He has a few errors I would not mind owning, but nope, he can keep them.
Yep....I remember that. And after he bragged about it, before it was sent, seller tried to renege on it after hearing from people contacting her. Buyer (the forum member you alluded to) then threatened legal action against the seller and forced the sale by bullying her for it.
Seller, if I recall, later changed his forum name as well, and really hated being reminded of his actions...though he had no remorse about it...just hated people calling him out for it.
Yep, that would be the one. I don't know why I cannot ever forget that one. I see it on eBay every time I look for errors and all it does is remind me of that situation.
I have some minor errors, but I don't collect errors, so it only sticks in my head due to arrogance and smugness of that (ex) forum member. Sadly. It's been what? Around 20 years now and some of us can still remember it
https://www.youtube.com/watch?v=4SPaXF4wvF8
They call him Flipper, Flipper,
Faster than Lightning.
No one you see
is smarter than he!
And we know Flipper
lives in a world full of wonder.
Flying there under,
under the sea!
@Rampage said:
Years ago, and I mean years, one of our very own forum members (who is now banned) came on here bragging (like, really bragging) about how he ripped a rare error coin (IKE dollar off centered on a foreign planchet) off an unknowing seller on eBay. The coin had many bids on it from not only me, but others on here, too. At the time, the coin was only bid up to a couple of hundred dollars in the first day. The, now banned, forum member convinced the seller to end the auction early for $300.00.
The ex-forum member was hammered for weeks afterwards by various forum members about what he had done and how he went about it and about how he bragged about it.
He subsequently got it holdered by PCGS and listed it for years on eBay for $10,000. He eventually (in the last couple of years) sold it to someone.
I will never buy a single coin from that person. He has a few errors I would not mind owning, but nope, he can keep them.
Yep....I remember that. And after he bragged about it, before it was sent, seller tried to renege on it after hearing from people contacting her. Buyer (the forum member you alluded to) then threatened legal action against the seller and forced the sale by bullying her for it.
Seller, if I recall, later changed his forum name as well, and really hated being reminded of his actions...though he had no remorse about it...just hated people calling him out for it.
Yep, that would be the one. I don't know why I cannot ever forget that one. I see it on eBay every time I look for errors and all it does is remind me of that situation.
I have some minor errors, but I don't collect errors, so it only sticks in my head due to arrogance and smugness of that (ex) forum member. Sadly. It's been what? Around 20 years now and some of us can still remember it
When someone tells you who they are, believe them. Dancing on the gave of the score was one thing but the talking about lawyers and going after the seller if they didn't follow though speaks to an self centered obliviousness and low moral code. I too never forgave that ex poster and am glad they are gone. Addition by subtraction
Yep, that would be the one. I don't know why I cannot ever forget that one. I see it on eBay every time I look for errors and all it does is remind me of that situation.
@TimNH said:
Numerous times I've been the underbidder on one of the coin auction sites, only to see that coin show up on eBay at a much higher price. My theory is lots of people only use eBay and if it's the best price on there, it's the best price period. These flippers sure do feel like parasites on the hobby, they add nothing but extract value.
You all just have to deploy counter measures. The OP should have just bid more or bid sooner. Instead he got caught up trying to snipe a bargain. I've lost coins this way too. That's what happens. If you really want the coin, bid your top dollar and don't play games. Then if someone is willing to pay more than you whether their intent is to sock the coin away or resell for a higher price then that's the reality of the market. The fault is really on you for failing to realize what the market values the coin for and failing to be competitive or in some cases, acquiescing to the situation when other people want it more than you do.
If outbidding everyone else and then attempting to sell for more than one paid is somehow bad for the hobby, how is it not also bad for the hobby that all the underbidders refused to bid as high as the winning bidder was?
@Rampage said:
Years ago, and I mean years, one of our very own forum members (who is now banned) came on here bragging (like, really bragging) about how he ripped a rare error coin (IKE dollar off centered on a foreign planchet) off an unknowing seller on eBay. The coin had many bids on it from not only me, but others on here, too. At the time, the coin was only bid up to a couple of hundred dollars in the first day. The, now banned, forum member convinced the seller to end the auction early for $300.00.
The ex-forum member was hammered for weeks afterwards by various forum members about what he had done and how he went about it and about how he bragged about it.
He subsequently got it holdered by PCGS and listed it for years on eBay for $10,000. He eventually (in the last couple of years) sold it to someone.
I will never buy a single coin from that person. He has a few errors I would not mind owning, but nope, he can keep them.
Yep....I remember that. And after he bragged about it, before it was sent, seller tried to renege on it after hearing from people contacting her. Buyer (the forum member you alluded to) then threatened legal action against the seller and forced the sale by bullying her for it.
Seller, if I recall, later changed his forum name as well, and really hated being reminded of his actions...though he had no remorse about it...just hated people calling him out for it.
Yep, that would be the one. I don't know why I cannot ever forget that one. I see it on eBay every time I look for errors and all it does is remind me of that situation.
I have some minor errors, but I don't collect errors, so it only sticks in my head due to arrogance and smugness of that (ex) forum member. Sadly. It's been what? Around 20 years now and some of us can still remember it
When someone tells you who they are, believe them. Dancing on the gave of the score was one thing but the talking about lawyers and going after the seller if they didn't follow though speaks to an self centered obliviousness and low moral code. I too never forgave that ex poster and am glad they are gone. Addition by subtraction
I think I know who this is. Did the initials of his first handle rhyme with EoC?
@MasonG said:
If outbidding everyone else and then attempting to sell for more than one paid is somehow bad for the hobby, how is it not also bad for the hobby that all the underbidders refused to bid as high as the winning bidder was?
Sooner or later, you have to stop bidding.
Lots of coins get bought and resold. I really don't understand the anger on this thread. Every coin I've won, the others gave up on even they could have bid more. Every coin i lost, I could have kept bidding but I gave up on.
All comments reflect the opinion of the author, even when irrefutably accurate.
Yes. It's also not quite the story alleged. He hit the BIN and the seller tried to back out.
No, that is incorrect. The coin started out as an auction (I was the high bidder at the time) and he convinced the seller to cancel all bids and list it as a BIN for $300. That is when he hit the BIN. I, and other forum members, immediately contacted the seller to tell them WTF. The seller tried to back out, but as previously mentioned, the buyer (banned forum member) threatened the seller so the seller completed the sale. There were more threads on the topic but they may have been removed.
Yes. It's also not quite the story alleged. He hit the BIN and the seller tried to back out.
No, that is incorrect. The coin started out as an auction (I was the high bidder at the time) and he convinced the seller to cancel all bids and list it as a BIN for $300. That is when he hit the BIN. I, and other forum members, immediately contacted the seller to tell them WTF. The seller tried to back out, but as previously mentioned, the buyer (banned forum member) threatened the seller so the seller completed the sale. There were more threads on the topic but they may have been removed.
Idk. I was just going by what the thread indicated. Several people said the seller set the BIN.
All comments reflect the opinion of the author, even when irrefutably accurate.
Comments
.
As far as flippers in general go, isn’t that how coins move around and eventually find their forever home? I didn’t find any of my non-bullion coins in change so ai assume they all had several owners before me and hopefully everyone along the way made some money on it.
I bought a coin at a show in El Paso that the dealer had owned for less than 30 minutes. I got a good deal, he made some money, and the guy he bought it from probably did, too.
It’s the way it goes. I wasn’t going to be able to buy it from the guy the dealer bought it from, so he had to flip it to me.
Coins change hands multiple times at a single show sometimes and eventually an end-user comes along to sock it way for awhile.
Yes 5c on the dollar does not cut it in the coin biz lol. Coins that are PQ high demand: sellers - hold out for all the money.
But coins do find their final home (end user) flipped around the RCI market place. So thanks to the flippers in getting that coin to the that collector / end user. Yay!
I have some minor errors, but I don't collect errors, so it only sticks in my head due to arrogance and smugness of that (ex) forum member. Sadly. It's been what? Around 20 years now and some of us can still remember it
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
They call him Flipper, Flipper,
Faster than Lightning.
No one you see
is smarter than he!
And we know Flipper
lives in a world full of wonder.
Flying there under,
under the sea!
When someone tells you who they are, believe them. Dancing on the gave of the score was one thing but the talking about lawyers and going after the seller if they didn't follow though speaks to an self centered obliviousness and low moral code. I too never forgave that ex poster and am glad they are gone. Addition by subtraction
11.5$ Southern Dollars, The little “Big Easy” set
That banned forum member was a smug SOB.
You all just have to deploy counter measures. The OP should have just bid more or bid sooner. Instead he got caught up trying to snipe a bargain. I've lost coins this way too. That's what happens. If you really want the coin, bid your top dollar and don't play games. Then if someone is willing to pay more than you whether their intent is to sock the coin away or resell for a higher price then that's the reality of the market. The fault is really on you for failing to realize what the market values the coin for and failing to be competitive or in some cases, acquiescing to the situation when other people want it more than you do.
If outbidding everyone else and then attempting to sell for more than one paid is somehow bad for the hobby, how is it not also bad for the hobby that all the underbidders refused to bid as high as the winning bidder was?
If you count down and snooker them in final seconds you might have a shot, chance whup that guy.
I think I know who this is. Did the initials of his first handle rhyme with EoC?
Sooner or later, you have to stop bidding.
Lots of coins get bought and resold. I really don't understand the anger on this thread. Every coin I've won, the others gave up on even they could have bid more. Every coin i lost, I could have kept bidding but I gave up on.
All comments reflect the opinion of the author, even when irrefutably accurate.
It's been a LONG time...but I think "Carlsbad" was part of one of the early names. The EoC or whatnot came later I think.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
This might be it. Not quite as acrimonious as I expected but that's the user I was thinking of.
https://forums.collectors.com/discussion/747326/ike-off-center-error-on-smaller-planchet-update-coin-in-hand/p1
Yes. It's also not quite the story alleged. He hit the BIN and the seller tried to back out.
All comments reflect the opinion of the author, even when irrefutably accurate.
No, that is incorrect. The coin started out as an auction (I was the high bidder at the time) and he convinced the seller to cancel all bids and list it as a BIN for $300. That is when he hit the BIN. I, and other forum members, immediately contacted the seller to tell them WTF. The seller tried to back out, but as previously mentioned, the buyer (banned forum member) threatened the seller so the seller completed the sale. There were more threads on the topic but they may have been removed.
Idk. I was just going by what the thread indicated. Several people said the seller set the BIN.
All comments reflect the opinion of the author, even when irrefutably accurate.