How come all the coins on eBay are junk?
Hedger
Posts: 1,238
What happened to all the good coins?
0
Hedger
Posts: 1,238
Comments
Russ, NCNE
<< <i>Not all junk, but you do have to sift through quite a bit to find the good ones.
Russ, NCNE >>
I've been watching for morgan vams and have got 2 maybe three in the past week... I'm not that concerned with grade, unless their fugly but I do think they (morgans) are there cause not too many can pick em out....
Ebay needs to hit it's est. for wall street and they do not seem to understand about bidder confidance factor. My guess is they gave up on the collectible markets.
It was very good while it lasted.
Don't you read these threads?
A guy got a raw 1860-O Seated Dime off Ebay Germany in a lot of U.S. coins, that PCGS graded as an AU58, for a little over $300.
I can assure you that coin isn't junk. He can probably sell it for $10,000.
There's always something good showing up on Ebay. You just have to have enough knowledge to recognize the rare stuff.
Get some books and start studying.
Ray
<< <i>Whatta ya talking about, Hedger?
Don't you read these threads?
A guy got a raw 1860-O Seated Dime off Ebay Germany in a lot of U.S. coins, that PCGS graded as an AU58, for a little over $300.
I can assure you that coin isn't junk. He can probably sell it for $10,000.
There's always something good showing up on Ebay. You just have to have enough knowledge to recognize the rare stuff.
Get some books and start studying.
Ray >>
I agree... love your sig line btw
Or one about how people hate hidden reserves and high starting bids. Most bidders, IMO,
are looking for that 20% back of Blue Sheet bid when bidding on coins. Good material can
still found, but a lot of sellers are simply fed up offering their coins to bargain hunting snipers.
<< <i>Many reasons but one important one is that sellers do not want to take a hit. Seller has to make a choice---a) start low with no reserve and take your chances or b) start out at your min. acceptable and that discourages bidding frenzy. Ebay 'sleaze factor' has just driven away a lot of potential bidders and I doubt there is any going back to the old days.
Ebay needs to hit it's est. for wall street and they do not seem to understand about bidder confidance factor. My guess is they gave up on the collectible markets.
****************
The need to hit wall street's numbers is probably of more importance than most realize. Unfortunately for eBay's management, their likelihood of hitting those numbers is declining as eBay matures. They have made a strong move away from the collectibles that powered their growth and now push sellers to get into selling "stuff". Many eBay catagories are now clogged with such "stuff" and bidders are going to start losing interest as it becomes more and more difficult to find desirable items.
Their inability to clean up their marketplace, brought on by their strict adherance to "we are only a venue", has affected bidder confidence negatively. I am selling some valuable photographs on eBay right now and can tell from the emails that I receive that many bidders are scared to death of bidding on more expensive items. I think these photos will sell, but for much less than would be the case if the market had been swept clean of the scammers. eBay's management doesn't seem to realize just how much the scammers are costing them in terms of lost final value fees as prices for better items drop due to the fear of being taken.
In spite of this, I remain a big fan of eBay. If any of you have ever tried to sell a valuable photograph to a dealer in that field FOR CASH you will know why! If you think coin dealers pay nothing...you ain't seen nothin' yet!
There is a good money making opportunity to be had if one has time, patience and a good ability to detect BS. You can find great bargains on eBay and sell them other places that are bringing more $$.
I found this on eBay...
This may happen but the reverse is also true; one ebay auction I was bidding on was for a coin(checked the cert # to be sure) auctioned at Heritage the prior week. The endding ebay bid was about $5 less than the final hammer price at Heritage.
Chris
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
<< <i>but a lot of sellers are simply fed up offering their coins to bargain hunting snipers. >>
Now I feel guilty.
Russ, NCNE
TorinoCobra71
Ken
<< <i>I won't go in to my opinions on general eBay bidder mentality but for whatever reasons, I have found that I can get a lot more for my "junk" there than anywhere else while "good" coins won't bring the price I think (hope) they deserve. So eBay ends up with my beauties like this one:
I once sold a pda that was totally worthless (i stated it wouldn't turn on) for 50.00. You get some bunch of nerds who think they have a 350 piece with only 50 bucks invested the bidding may never end.
on the other hand I've bought some E-bay junk the past few weeks and have been pretty pleased, if it wasn't for people padding their sale with rip off shipping more stuff would be in reach.
Connor Numismatics Website
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>It cracks me up to see some of the dealer auctions where they may have a price of $450 marked on a 2X2 in the photo. When the auction ends the final price may be something like $150. The other one I like is where they have a starting price that is 10 - 25% (sometimes more) higher than the same coin that has sold on TT or Heritage. >>
That's because that's where they bought them! (Won't use Laura's buzzword)
<< <i>I won't go in to my opinions on general eBay bidder mentality but for whatever reasons, I have found that I can get a lot more for my "junk" there than anywhere else while "good" coins won't bring the price I think (hope) they deserve. So eBay ends up with my beauties like this one:
This rather sums it up. Ebay is a place to sell junk mainly because junk gets good bids relative to what it's worth, while good stuff, which would sell at premium prices at coin shows, does not get the attention it deserves. Furthermore the lot posting fees and after sale selling price fees will run you more than spreading out the mostly fixed costs that a dealer incurs by going to a show.
Here's a best case scenario. Back when I was working a one day show in New Hampshire, I could sell $20,000 and in some cases over $30,000 worth to stuff in a day. My expenses were $50 for the table plus lets say $40 to drive there. It does not take a lot of calculations to figure out that that is LOT LESS than one would pay for selling the same stuff on eBay.
One other point is that eBay is a place where some dealers sell or “dump” the coins they’ve had problems selling elsewhere. This is one of the reasons why you often do not see the most desirable items offered on eBay.
<< <i>Buyers are complaining there aren't any good deals on eBay, and sellers are complaining they aren't getting good prices. Smoething doesn't add up here. >>
It's because buyers are looking for nice pieces that are getting the heavy competition, and sellers are *mostly* peddling junk.
Quality coins, imaged well and offered by a trustworthy seller, will not often sell for "good deal" money, let alone "rip" money. Junk won't come close to most of the pricesheets.
<< <i>What happened to all the good coins? >>
In Ur safe....what a joke!
Thank You
SilverDollar
Guess you gotta pay full retail + from the "non-wannabees" if you're gonna get "real" coins.