Is ebay the whole sale store for Dealers??

Paleodale · June 30, 2007 3:43PM

With so many coins bought on ebay at prices lower than what Dealers advertize, I wonder sometimes who is actually buying all these coins sold on ebay.. I wonder how many are really collecters,, whadda ya think???.

ColonialCoinUnion · June 30, 2007 9:57PM

The conclusion is clear Paleodale.

You should buy 100% of your coins on Ebay, as the prices are always lower and the quality is superb.

Coxe · June 30, 2007 10:21PM

From what I see on eBay, there are first speculators who will just bid all silver and gold slightly below melt, including shipping, catching the ones they can. A lot of collectors get in the mix but they are not reliable as normal folks cannot have real lives and also peruse thousands of coin lots each week. So I am sure there are wholesale dealers operating similar to the speculators, just on a subset of inventory-interesting coins they can move.

From the sell side, I see fulltime dealers use eBay to sell off parts of bought collections they don't want to personally inventory. There are also a lot of parttime dealers (and collector/dealer types) who use the editorial control of eBay with the better fee structure over regular auction houses to market their coins. It is not reasonable to set up the alternative website and pay search engines to produce the hits for them.

291fifth · June 30, 2007 10:36PM

"Deals" on eBay are rare. It is mostly a dumping ground for second rate and/or overgraded coins. There really aren't that many true auctions anymore.

ColonialCoinUnion · June 30, 2007 11:01PM

<< <i>"Deals" on eBay are rare. It is mostly a dumping ground for second rate and/or overgraded coins. There really aren't that many true auctions anymore. >>

I'll remove my sarcasm hat for a while and say that I agree with 291fifth.

The only thing we sell on Ebay is the stuff we can't get rid of anywhere else - leftovers from collections we buy, old junk buried in the back of the safe, etc. And still, I am often surprised at how much $$ it brings.

roadrunner · June 30, 2007 11:25PM

A number of dealers do lots of shopping on ebay. Anything in higher grade top-tiered slabbed type seems to get bought by Centsles. And from what others have said, those get reslabbed into very high 3rd tier holders. Something for everyone!

roadrunner

fcloud · June 30, 2007 11:32PM

You just have to watch what you buy and return the ones that simply don't make it... I have picked up some really nice coins with some doing some very nice upgrades! I have also returned some dogs...

This dog came from ebay...

fcloud · June 30, 2007 11:34PM

Here is another dog I picked up..

This one was an ANACS 64 FB -- PCGS upgraded to 66 FB.

This 1938 d over s (dog) was in an ANACS MS65. Upgraded to MS66 by PCGS.

GFourDriver · July 1, 2007 12:24AM

<<<<<The only thing we sell on Ebay is the stuff we can't get rid of anywhere else - leftovers from collections we buy, old junk buried in the back of the safe, etc. And still, I am often surprised at how much $$ it brings.>>>>>

Thats nice to know.

ColonialCoinUnion · July 1, 2007 1:07AM

<< <i><<<<<The only thing we sell on Ebay is the stuff we can't get rid of anywhere else - leftovers from collections we buy, old junk buried in the back of the safe, etc. And still, I am often surprised at how much $$ it brings.>>>>>

Thats nice to know. >>

We consign it to a guy who handles large volumes of stuff and he blows it out. We don't sell anything of any kind under our own banner.

stev32k · July 1, 2007 1:23AM

I don't think one can make any blanket statement about buying coins (or anything else) on ebay. There are gems and junk, overpriced and under priced, good sellers and bad, honest people and crooks.

Paleodale · July 1, 2007 1:36AM

<< <i>I don't think one can make any blanket statement about buying coins (or anything else) on ebay. There are gems and junk, overpriced and under priced, good sellers and bad, honest people and crooks. >>

I kinda agree with steve32k,, I have sold off some of my really nice stuff graded by pcgs and raw,, here lately not bringing as much as it should... Thats why I was wondering 'Who' is really buying these coins..

cape · July 1, 2007 1:37AM

i agee with strev32k. i list many coins on ebay . most of these coins i list with greattoning that have nice color and he is able to capture the image 90% of the time. these coins are not overgraded dregs! if you find a good ebayer, there are good coins to be had! as a matter of fact i'm going to start listing my newps first on the buy sell and trade forum before they hit ebay.

Type2 · July 1, 2007 1:44AM

Not me, I sell off a lot of coins I grade 100 to 200 coins a month so I have to sell to get my grading money back. I'll keep the 67/68 and sell the 66/65 so I can do it next month and toss in a key or two. but yes dealers do buy a lot of my coins some ask for 50 to 100 lot and do buy for ther store.

droopyd · July 1, 2007 1:51AM

I am strictly a collector, not a "dealer" in any sense of the word.

I occasionally sell a few pieces -- mostly ones that I have upgraded -- because I don't need them anymore. And I can use the $$$ to partially offest the cost of new acquisitions.

I sell my coins on the 'bay because there is really no other alternative. I could sell them at a local shop or at a show, but they would not realize as high a price.

I really don't care who buys my coins. I know that a few dealers have bought some in the past, more power to 'em if they can make a modest profit on what they buy from me. Based on what I've been selling for, any profits would be modest indeed.

There may be many problems with "just-a-venue" -- but at least it remains a viable venue for buyers and sellers of all stripes (even a few who should be wearing stripes, or is it fluorescent orange jumpsuits now....).

jobiwan115 · July 1, 2007 2:07AM

<< <i>I don't think one can make any blanket statement about buying coins (or anything else) on ebay. There are gems and junk, overpriced and under priced, good sellers and bad, honest people and crooks. >>

Good point, Steve. And with eBay, you never know what's going to come down the pike next. There might be slim pickings now, and some great new stuff a week or two later. Just one more reason to show patience, and not make a grab based only on what's the best coin THIS week. I used to do this a lot, but being out here on the board has helped me a lot in this area.

TwoSides2aCoin · July 1, 2007 2:15AM

Was it Forrest Gump who said in a movie :

"... momma said life was like a box of chocolates" ?
So it is with eBay !
It's the return privelege that I look at when it comes to coins on that venue.

Is ebay the whole sale store for Dealers??

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