eBay doesn't insure shipments. Using the eBay shipping page, you can buy insurance through ShipCover or USPS. ShipCover does not insure coin shipments, USPS does.
Let me make sure I understand what you are saying. When I sold the coin that I previously mentioned in this thread, an eBay window popped up, asking me to purchase a label. On that screen, I purchased a USPS label. Then a second screen popped up, asking if I wanted to buy insurance. I just clicked past that screen and didn't look closely at it, because I was planning to purchase the registered + insurance services at the post office.
Are you saying that, for coin shipments, it's ok to purchase insurance via eBay if you've selected a USPS label, or to never purchase insurance through eBay?
@cinque1543 said:
Are you saying that, for coin shipments, it's ok to purchase insurance via eBay if you've selected a USPS label, or to never purchase insurance through eBay?
It depends on whether or not you're using registered mail. If you're not, the USPS insurance you get through the eBay shipping page is the same as what you get at the post office. Registered mail works differently. You cannot add "Registered" as a shipping option through the eBay shipping webpage, you have to do that at the post office. In order to avoid confusion, I would suggest that for registered shipments, you don't use eBay at all. Take the package to the post office, fill out the form and pay for shipping there. Once you get the registered receipt with the tracking number, go back to the order page on eBay and enter it manually. If you're not using registered mail but still want USPS insurance for items valued over the automatic $100 coverage you get through the USPS, buying it through eBay is fine, just be sure to select the "USPS" option and not "ShipCover". If your item is valued under $100, you don't have to do anything aside from selecting the shipping service level (Ground/Priority Mail/etc).
About eBay insurance options...
What with desktop vs. mobile access to the eBay website and websites using cookies, I can't guarantee that what you're seeing is the same as what I am. What I can tell you is that there are only two kinds of insurance available through eBay shipping:
Here are the first two items on ShipCover's excluded item list:
Coins
Bullion
USPS insurance is the same as what you get at the post office and they do insure coins. USPS does make a distinction between "numismatic material" and "bullion" so you need to be aware of that- to insure bullion, you must use registered mail. If you want to check it out for yourself, here's a link to USPS's DMM: https://pe.usps.com/text/dmm300/welcome.htm
When I buy labels, there is an option to add additional insurance when the sale price is over the $100 that you automatically get. You need to be careful with this if you do want to buy additional insurance as (at least for me) the default option is "ShipCover" and I have to manually select "USPS".
Disclaimer: The info I've included about USPS policies comes from the DMM. I have no doubt someone out there will say "But the clerk at my PO said..." and they could be entirely truthful about what they were told. The fact of the matter is that not all postal employees understand all of the USPS's policies, so you need to decide for yourself who to believe. I recommend checking the DMM if you have questions about what the actual USPS rules/policies are.
@logger7 said:
Never do a straight auction without a reserve close to the market; usps covers up to $100 on ground advantage and priority shipping.
Why shouldn't one do that ?
You'll get some nasty surprises. There's no guarantee you'll even get melt.
I have sold over a thousand of coins on my ebay store that way, almost always strong results too
I have sold almost 100,000 coins in my eBay store and I gave up on $1 and go auctions a long time ago because there are not always strong results. A lot of it depends on what you're selling and how regular a following you have. For people who are constantly running auctions and have hundreds of followers, it is usually okay. For people who only occasional sell coins and, therefore, have no followers, you can get killed.
I knew a guy who sold everything 99 cents and go. For a while, it went okay. Then in one week, he stopped doing it forever. He sold almost everything for under $5 that week and lost a ton of money.
I just looked at your sold auctions and your results prove the point:
And yes, you also have some strong results. And you can consider those silver sales as loss leaders, if you like. But your results prove why the advice was to not start them at a low initial bid and just let them go. And, I would add, you run weekly auctions and would have a larger following (presumably) than someone who just jumps in and lists a few things.
I consider the junk silver listing as filler, and attention gathers, and I really don't care if I lose money on them, that said, I do completely agree with your summarization. However I typically run weekly & daily auctions, and are net extremely profitable.
I don’t want lose money on any of it. There is no reason why I should.
Interesting analysis. Once all that added up that’s quite a hefty hit on P&L. I would be furious (never again). That would be unacceptable to me and that play call wb junked.
What an awful result. But not real surprised. I don’t sell nothing below cost.
The ones that did even had positive result (op) it was too weak to keep any kind of coin enterprise afloat.
I would never start a listing below melt or in negative profit range. Whatever sales venue I need positive p&l. The most I am going to lose is fixed cost opex. Cheap junk box stuff like that I generally put in junk box markup cost plus 50 pct or perhaps keystone. This leaves good haggle room. It’s all just fun and games. Some shows that stuff will sell well some not. A really good show it will but a good dent in my expenses. Every inventory class has to be evaluated then good promotional strategy accordingly.
I am not a player in bulk silver however and will leave that area to you guys.
For ‘high value’ items—and I’m not sure what that threshold is, maybe $750—does eBay require whatever shipment method used be one that requires a signature on delivery?
@RedStorm said:
For ‘high value’ items—and I’m not sure what that threshold is, maybe $750—does eBay require whatever shipment method used be one that requires a signature on delivery?
Yes, and I think $750 is the cutoff. Something close to that, if not exactly.
@RedStorm said:
For ‘high value’ items—and I’m not sure what that threshold is, maybe $750—does eBay require whatever shipment method used be one that requires a signature on delivery?
Comments
Let me make sure I understand what you are saying. When I sold the coin that I previously mentioned in this thread, an eBay window popped up, asking me to purchase a label. On that screen, I purchased a USPS label. Then a second screen popped up, asking if I wanted to buy insurance. I just clicked past that screen and didn't look closely at it, because I was planning to purchase the registered + insurance services at the post office.
Are you saying that, for coin shipments, it's ok to purchase insurance via eBay if you've selected a USPS label, or to never purchase insurance through eBay?
It depends on whether or not you're using registered mail. If you're not, the USPS insurance you get through the eBay shipping page is the same as what you get at the post office. Registered mail works differently. You cannot add "Registered" as a shipping option through the eBay shipping webpage, you have to do that at the post office. In order to avoid confusion, I would suggest that for registered shipments, you don't use eBay at all. Take the package to the post office, fill out the form and pay for shipping there. Once you get the registered receipt with the tracking number, go back to the order page on eBay and enter it manually. If you're not using registered mail but still want USPS insurance for items valued over the automatic $100 coverage you get through the USPS, buying it through eBay is fine, just be sure to select the "USPS" option and not "ShipCover". If your item is valued under $100, you don't have to do anything aside from selecting the shipping service level (Ground/Priority Mail/etc).
About eBay insurance options...
What with desktop vs. mobile access to the eBay website and websites using cookies, I can't guarantee that what you're seeing is the same as what I am. What I can tell you is that there are only two kinds of insurance available through eBay shipping:
ShipCover insurance is through a private third-party insurance company and they do not insure coins. Here is a link to eBay explaining ShipCover insurance: : https://www.ebay.com/help/selling/shipcover/shipping-insurance-shipcover?id=4643
Here are the first two items on ShipCover's excluded item list:
USPS insurance is the same as what you get at the post office and they do insure coins. USPS does make a distinction between "numismatic material" and "bullion" so you need to be aware of that- to insure bullion, you must use registered mail. If you want to check it out for yourself, here's a link to USPS's DMM: https://pe.usps.com/text/dmm300/welcome.htm
When I buy labels, there is an option to add additional insurance when the sale price is over the $100 that you automatically get. You need to be careful with this if you do want to buy additional insurance as (at least for me) the default option is "ShipCover" and I have to manually select "USPS".
Disclaimer: The info I've included about USPS policies comes from the DMM. I have no doubt someone out there will say "But the clerk at my PO said..." and they could be entirely truthful about what they were told. The fact of the matter is that not all postal employees understand all of the USPS's policies, so you need to decide for yourself who to believe. I recommend checking the DMM if you have questions about what the actual USPS rules/policies are.
Great, clear explanation. Thank you!
I consider the junk silver listing as filler, and attention gathers, and I really don't care if I lose money on them, that said, I do completely agree with your summarization. However I typically run weekly & daily auctions, and are net extremely profitable.
Micah Langford - https://www.oldglorycoinsandcurrency.com/
I don’t want lose money on any of it. There is no reason why I should.
Interesting analysis. Once all that added up that’s quite a hefty hit on P&L. I would be furious (never again). That would be unacceptable to me and that play call wb junked.
What an awful result. But not real surprised. I don’t sell nothing below cost.
The ones that did even had positive result (op) it was too weak to keep any kind of coin enterprise afloat.
I would never start a listing below melt or in negative profit range. Whatever sales venue I need positive p&l. The most I am going to lose is fixed cost opex. Cheap junk box stuff like that I generally put in junk box markup cost plus 50 pct or perhaps keystone. This leaves good haggle room. It’s all just fun and games. Some shows that stuff will sell well some not. A really good show it will but a good dent in my expenses. Every inventory class has to be evaluated then good promotional strategy accordingly.
I am not a player in bulk silver however and will leave that area to you guys.
For ‘high value’ items—and I’m not sure what that threshold is, maybe $750—does eBay require whatever shipment method used be one that requires a signature on delivery?
Yes, and I think $750 is the cutoff. Something close to that, if not exactly.
He is correct
Micah Langford - https://www.oldglorycoinsandcurrency.com/