Are any members of the forum collecting coins from eBay?

topstuf · May 5, 2006 1:15AM

With all the derogatory statements about eBay on here, I just was wondering how many are finding coins they like off of eBay.
I see stuff like, "well, what do you expect from ebay" on here all the time.

What do you REALLY do?

LanLord · May 5, 2006 1:21AM

I have purchased a coin or two from eBay. I have purchased more support stuff like books and so forth that actual coins.

Barndog · May 5, 2006 1:25AM

Some fantastic buys are available on ebay if you are into die varieties, die marriages, and die remarriages...so I have heard.

etexmike · May 5, 2006 1:26AM

I don't buy as often from the bay as I once did.

It used to be a good place to bargin hunt. Not so much anymore. At least the coins I look for.

-----------

etexmike

paigowjohnny · May 5, 2006 1:28AM

I've picked up quite a few good Morgans on ebay...toners as well as regular additions to the collection.

BUT

almost everything is certified and I always ensure they have a return policy

rhedden · May 5, 2006 1:37AM

Speaking from the point of view of an early type coin collector, I bought 75 % of my coins from ebay as recently as 2002. Now it's less than 5 %. There is just nothing but overpriced grabage on there as far as type coins go. I'm sick and tired of seeing big dealers retailing low-end slabbed type for 40% over Ask, like they have the last example on the face of the Earth, and offering high-end material for 3 times Trends. "Boo" to Paypal- they push the prices even higher and put sellers at risk. Then there are the scammers, counterfeits, the shilling (more than 50% of "true" auctions, IMO), the increased % of cleaned and altered coins, and the general degradation in quality. Just go on there and try to find a Choice large cent- any date. You'll look through 3,000 coins before you find one, and when you receive it, you'll find out it's been recolored or cleaned, and the photo was doctored. If an actual decent coin shows up, you'll be bidding against at least 5 novice colelctors who aren't sharp enough to spot any defects or detractions, so get ready to bid moon money, or forget about it. It's a morass of tricks and traps as far as type collecting goes.

I bought two coins off there in the last 6 months- an 1874 Seated half (nice VF/XF), and an 1856-O Seated half (whizzed, doctored photo, returned promptly). I am curtailing my selling on there because of the whole Paypal situation with chargebacks, etc.

fc · May 5, 2006 1:38AM

ebay is nice. i buy from it.
selling is just as easy it appears.

Rob41281 · May 5, 2006 1:44AM

just about 100% of my collection has been bought from ebay. i couldnt even tell when the last time i got a coin from a shop was.

morgannut2 · May 5, 2006 1:46AM

None of Above -- I look for one very obscure series on ebay, that's it. I hate Ebay as a corporation and it's stupid policies.

CoinResource · May 5, 2006 2:00AM

You are missing an option: I only use eBay as a last resort to purchase something I really need.

Gemineye · May 5, 2006 2:11AM

I wonder if the results are suprising to many.........???????

Fairlaneman · May 5, 2006 2:15AM

Only 1 coin shop thats worth a hoot within 190 miles and only 3 coin shows that are 200+ miles away per year so tell me what other option is there ? I check a few Web Sites from time to time but now they want far past Moon money for their stuff compared to Ebay.

Oh Yea....the last 3 slabbed coins purchased on Ebay were from forum members. Darn they are selling junk ?

Ken

rec78 · May 5, 2006 2:20AM

If they have something i want or need. Ebay is a big help for some coins that i cannot find elsewhere-Sure you have to be careful and avoid pitfalls,but after awhile you learn to read between the lines. I dont see any sense however in buying common things like late date mint or proof sets(1956 on) on ebay if you can go to a shop or show- You will save the postage and generally pay less for them especially if you are a one at a time collector. Bob

taxbuster1040 · May 5, 2006 2:22AM

I buy mostly pcgs, ngc, anacs or icg on ebay. I try to make sure there is a good photo and a good return policy. I also buy lots from individuals there where I price out the value assuming its mostly garbage. I then repackage the lot in different ways and can make a small profit doing this. I like the liquidity that ebay brings to the table. You just have to be careful. There are good deals to be had if you are patient and have alot of time to search. I think i win about 5% of the lots i bid on.

mgoodm3 · May 5, 2006 2:27AM

No.

3sidesofsilver · May 5, 2006 2:33AM

I have used ebay for the past two years and have experienced not a single problem. Like some other forum members have said - be careful, stick with sellers you trust, and watch for claims of high grades that really aren't. I have purchased dozens of MS Morgan's for a song, IMO. I look at it this way - don't be in a hurry to buy and you'll save yourself a lot of grief.
--------------------------
Craig

Barberman55 · May 5, 2006 2:34AM

I'll use Ebay on rare occasions.........if the coin is one I've been searching for for a while. I'd much rather deal directly with reputable dealer's who specialize in what I collect.

Mesquite · May 5, 2006 2:34AM

Of course I purchase coins from ebay auctions. I have many trusted sellers whose inventory I view frequently. Many of them are board members, many of them are not. There is no question that you have to be careful with whom you choose to do business, but there are certainly "safe" buys that one can make. In over 250 transactions (not a lot compared with some), as either a buyer or a seller, I've never had a bad experience. I do know that this has not been the case for all.

WaterSport · May 5, 2006 2:43AM

With all of its negatives, EBay has expanded collecting to levels never dreamt 10 years ago. Many of us have no coin shop or other access to buying coins other than by mail. EBay opened up a lot of new folks to collecting and made it possible to sell to someone other than a dealer. if you even had a dealer around to sell to. My collection of Lincolns was built by EBay purchases. EBay gives you an inventory of coins that is greater than the top 10 dealers combined. And it is always changing. How many folks complain about visiting their local coin shop only to see that same inventory month after month.

I can remember the first few coins I ever bought after getting connected to EBay. One was a 1938 Proof Lincoln. Just the fact that the coin was available for bid blew me away, But the day I got it I was trilled, along with many others.

Did I get crap from EBay?, sure, like my cast counterfeit Morgan, wizzed, bent and otherwise dishonest assessments, After 7 years, I have lost only $13. What can I say, the guy was an idiot. If you think this only happens with eBay, as your local dealer if a few bad deals have occurred in his or hers shop. Common sense and collecting knowledge help when buying coins on EBay, and yes, you can take all day long to cherry pick, compare prices, look for varieties, etc.

WS

relayer · May 5, 2006 3:51AM

In a poll, most people here stated they get most of their coins from eBay

TorinoCobra71 · May 5, 2006 5:43AM

I almost always us FleaBay for my coin purchases...........

TorinoCobra71

thezookrew · May 5, 2006 6:00AM

I started my Morgan collection on EBay. That is the only place I have purchased them and I now have about a hundred. There have been a few REALLY bad experiences, there have been a few times (early on) when I saw things in a coin that I WANTED to see and got stuck, the majority of the times I paid just slightly more or less than what the coin was worth, and about 15% of the time I have gotten an absolute steal. The more I bid on items and the more self control I had, the better I seemed to do as far as getting great coins at a discount. I really think "buyer beware" is the key, and to always ask "is this really what I want at the price I really want to pay (or less)". I always have a high price in mind when I buy and I rarely go higher. I just find it isn't worth the bidding war sometimes. Yes, I have lost coins I thought would have been really nice, but, purhaps, they would have been better in the photo anyway!! Just my Morgan dollar's worth!

1921obsession · May 5, 2006 6:09AM

I would be unable to pursue my collection without Ebay. An error that's 1 in 10,000 isn't hard to find when you look at 1,000 possibilities a week.

SDCollector · May 5, 2006 6:13AM

I've gone back and forth on whether to use eBay.

Recently I've decided to give it another try. Most of my purchases have been from my local shop and Heritage. They will still be my primary sources. But someday I'm going to start selling direct to collectors, rather than to my local dealer as I have been doing, and eBay is still the best place for selling for the type of coins that I collect.

Cladiator · May 5, 2006 6:14AM

What's eBay?

coinbuf · May 5, 2006 6:18AM

I prefer to purchase from some select dealers both online and local; as well as from the BST board here. But I have bought many nice coins on ebay/yahoo as well.

Chris

streeter · May 5, 2006 6:31AM

I've gotten some terrific coins off of ebay, a couple of rips and also a few fabulous screw jobs.

One thing, as a seller-------if you need to raise 5 or 10k in a week-------there's no substitute.

mr3holesinone · May 5, 2006 6:49AM

Cladiator, eBay is a website used by many people to buy and sell items in an auction environment. Go to www.ebay.com on the internet and you can see for yourself what is being discussed. There are many other discussions on the boards you can read to further educate yourself about eBay. Be careful and good luck in your pursuits.

Fountainhead · May 5, 2006 6:56AM

I'm just like rhedden. I used to buy most of my coins via eBay, but now purchase only a small fraction that way, and only from dealers I know. There's just too much junk out there! It isn't worth my time any more.

The problem is, if everyone thinks the way I do, when it comes time to sell I can't count on getting top dollar if I use eBay.

MikeInFL · May 5, 2006 7:14AM

I'm similiar to rhedden as well -- my eBay purchases have really slowed down. I mostly look for large cents on eBay these days, and just purchased 3 today (thanks to the aforementioned rhedden!!!). Provided your seller has a clear return policy and good feedback, I see no reason why not to use eBay to purchase cheaper coins. All my high-dollar coins come directly from dealers or other collectors....Mike

Cladiator · May 5, 2006 7:14AM

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originalisbest · May 5, 2006 7:32AM

I've bought many nice things on eBay - here and there, a key date has been certified (or from a known seller.) Look at respected member jim dimmick's current listings and tell me those are junk.

Oh, but those are exceptions you'll say - well yes, that's the point, most of eBay is chaff and the few grains of wheat are what you keep - um - pretty much like any physical dealer's showcase.

If you know what you're doing, that is. Which applies whether you buy in person, or on eBay. EBay is a perfectly fine place to buy coins from. Not every nice coin will be easy to find there of course - I would imagine quality early large cents would be few and far between (I don't actively look for those.) Most such pieces would look like pitted junk anyway, if were to consider them as attainable.

NumisOxide · May 5, 2006 7:39AM

Ebay is alright. Lately, I've been buying some coins that I can't locate anywhere else, such as my NGC SS Republic Medal and some neat restrikes. Just stick with the sellers who have good feedback and you shouldn't have a problem.

My sources for Coins
85% Dealers w/ Websites
10% Coin shop/ Coin Show/ BST Board
5% Ebay

SUPERCARCOINS · May 5, 2006 7:50AM

Ebay itself is merely a vehicle by which collectors and dealers can view and bid on litteraly

hundreds of thousands of coins. Coin shops , coin shows , etc have there share of

"junk" as well. Ebay is probably the single greatest buying/selling numismatic outlet

in the world.

LindeDad · May 5, 2006 8:09AM

I have bough about 95% of my coins on eBay. Have five new coins setting on my desk now from eBay that I will be putting in my sets shortly. Couple of orpham 2006 Kennedy's and three low grade Walkers.
And really eBay got me back into coin collecting. Yes I have got ripped a couple of times. But you learn, and since my collecting interest have went to the PCGS registery. It is hard for a dealer to sell a coin a grade or two higher than what really is now.
And it is a good place to resell my coins that I have upgraded.

Bear · May 5, 2006 8:18AM

Its the only way to find VF to XF Barber Half Dollars.

Dealers dont seem to have any in that grade. If

they do, they all seem to have been washed up and dipped out

or are just plain fugly.

topstuf · May 5, 2006 10:05AM

<< <i>One thing, as a seller-------if you need to raise 5 or 10k in a week-------there's no substitute. >>

Streeter, for some reason that tickled me. I must be a MAGNET for immediate eBay SALES .....followed by interminable stalling and dinkin around with payments.

My last sale on there was a guy who IGNORED my "No sales to unverified accounts" and then went on a litany of having no access to US funds from ENGLAND! He ..... f i n a l l y......paid. With cash.

I seem to get paid after about a month and a half on entirely too many things.

Coxe · May 5, 2006 10:11AM

Not enough voting options. I have been an eBayer since practically their beginning but have bought maybe a half dozen coins of the couple hundred purchases I've made on eBay. I see an opportunity here or there on eBay but rarely even look for them in all honesty. I find it not worth the trouble when I can spend my same coin dollars in conveniently established public auctions and with trusted dealers and collectors. And when it comes to idiot money, sheesh there seems to be pleanty on eBay. (Love to watch their bids roll in while on the floor of Heritage sales too. I am dumbstruck in disbelief on occasion there.)

lkenefic · May 5, 2006 10:23AM

Like most, I bought alot from ebay years ago. As rhedden pointed out though, just try to find a decent Large Cent anymore at a reasonable price. There are about 4-5 "Favorite Sellers" I'm down to on the 'bay for early coppers but I've not purchased anything from them in about a year. I'm also going for a Morgan date/MM set. I look mostly at slabbed dollars here, but I have to admit, I've gotten most of my collection from my local B&M shop. One of the employees is a serious VAM collector and quite knowledgeable. You can't get THAT type of schoolin' on ebay!!

Leo

BobaFett72 · May 5, 2006 10:25AM

I use Ebay and have had a lot of good transactions...quite a few with some forum members recently. Ive had just as many positive experiences on the BST forum, with less fees

I dislike Ebay as a corporation and wish they had real competition that would force them to get their heads out of their asses.

Ciao.

ILikeMercs · May 5, 2006 10:26AM

since ebay has a million coins on their site at any given time, I think the complaints on here would be FAR outweighed by all the good stories (which don't usually show up)........JMO

Whizzard · May 5, 2006 10:33AM

I've recently gotten back into collecting (mostly modern commems) and some odd and ends that appeal to me. Most have come from eBay. I've not been ripped off so far.

anablep · May 5, 2006 10:34AM

I'd say 75% of my ~60 Morgans are from ebay.

No other coins purchased from ebay except 2-3 rolls of Buffalo nickels 3 years ago.

pharmer · May 5, 2006 10:37AM

Sort of funny/ironic seeing the responses of some people who say they woudn't buy a coin off ebay, but who sure don't hesitate to sell there

majorbigtime · May 5, 2006 11:24AM

I've bought everything fron junk coins to give kids to an 1797 half dollar on ebay.

orie · May 5, 2006 12:22PM

If it weren't for ebay I wouldn't be collecting. Man, I live in Kentucky, where am I going to find a shop or a show?

Did receive a XF40 PCGS Morgan today that was pitiful(cleaned). I'll keep it and cull it out later on EBAY. But return a $50 coin...I don't think it's worth the effort.

majorbigtime · May 5, 2006 1:34PM

<< <i>If it weren't for ebay I wouldn't be collecting. Man, I live in Kentucky, where am I going to find a shop or a show?

Did receive a XF40 PCGS Morgan today that was pitiful(cleaned). I'll keep it and cull it out later on EBAY. But return a $50 coin...I don't think it's worth the effort. >>

It's your decision whether to return the coin, but I certinly hope you give neutral or negative feedback to warn other prospective buyers.

numonebuyer · May 5, 2006 1:54PM

I only buy from auctions with good pictures of PCGS certified Morgans.

Mercury · May 5, 2006 2:15PM

I have bought from ebay. However, it is not for my collection. I view ebay as a way to pick up fun coin and Vams. That's it. The good coins come from auctions and coin shows.

Mercury

Woodwind · May 5, 2006 2:37PM

I've purchased a few coins off of ebay with no problems. I limit my raw e-bay coin purchases to $50 each. For slabbed coins, I could go higher, but it would have to be from a respected dealer, and slabbed by either PCGS, NGC, ANACS or ICG.

Boom · May 5, 2006 10:00PM

From a buyer's perspective, particularly when it comes to buying certified coins, eBay cannot be beat. No buyers' fees or middleman "juice" to cope with but conversely from a seller's perspective I long for the old days when buyers went toe to toe early on as opposed to nowadays with everybody sitting on their snipers. It DO make a seller just a bit nervous, ESPECIALLY when auctioning very expensive items.

I'll never understand why people try to buy for next to nothing on the bay yet pay full price PLUS the juice at the big auction houses. There are no good deals on Teletrade or Heritage anymore especially when the sellers are working in conjunction with the auction houses and the next bid meets the reserve yet only two bidders are bidding. It doesn't require a doctorate in Nuclear Physics to see what is going on here.

If you place a Reserve on an item on eBay it turns all the bidders off yet you name the venue, they all have reserves AND the juice. Go figure!.

Are any members of the forum collecting coins from eBay?

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