How do i make sure I don't get scammed on E-bay Please Help!

Tvac897 · March 25, 2008 1:56AM

Hey guys and gals...I've been trying to break into the coin collecting world for a few months now and i've ordered quite a few things off e-bay, but I recently paid $400 for a coin and when I brought it for authentication was promptly told it was a junk coin.

Could anyone advise me how to avoid these scammers in the future? You all seem to have a firm grasp on how to thrive in this environment...I really love antique coins but I am getting discouraged.

Thank you all.

notwilight · March 25, 2008 1:58AM

What type of coins are you looking to buy. Advice is different for different series. --Jerry

USAFRETWI · March 25, 2008 1:59AM

Dont buy Raw coins off of ebay unless you can tell if it's authentic or not.

kranky · March 25, 2008 2:01AM

Can you post a link to the auction or provide the auction number?

gecko109 · March 25, 2008 2:02AM

Experience....there is no substitute for it. When considering raw pieces on ebay, I limit myself to $200 max just to minimize my downside should I get a dog. You wouldnt go to an antique auto auction and spend large sums of cash without knowing what you were doing, so try to apply that to coin collecting. Reading these forums is an excellent way to gain experience and info. Attending shows, and hanging out at a local B&M are others.

OPA · March 25, 2008 2:02AM

<< Dont buy Raw coins off of ebay unless you can tell if it's authentic or not. >>

or unless you are only paying bullion spot +3% .....

ziggy29 · March 25, 2008 2:02AM

What is your area of interest? If you are talking about coins that are in the hundreds of dollars and up, the best thing to do (unless you are really good at evaluating coins) is:

* Avoid raw coins (and coins in crap slabs)

* Avoid sellers from China

* Avoid sellers who keep feedback and/or bidder identities private

* Look at the feedback and avoid sellers who retaliate against dissatisfied buyers

* Avoid sellers with very low feedback scores or ratings below 99%

* Be wary of sellers using terms like "estate," "I know nothing about coins," and so on.

* Avoid sellers where "all sales are final."

* If something in a listing isn't clear to you, ask the seller before bidding.

I'm sure there are more. And long term, don't let reliance on top-tier slabs prevent you from becoming more educated about evaluating and grading coins on your own. TPGs can be some assurance but (IMO) should not be used as a "crutch" which eliminates the need to learn about coins, grading, evaluation and authentication. As you study numismatics more and look at a lot of coins you'll probably feel your confidence increasing.

cmerlo1 · March 25, 2008 2:03AM

Here are the rules I try to follow:

1. Know what you’re buying- don’t be a novice.
2. Bad, altered, or missing photos = no purchase.
3. No return policy or if a restocking fee is charged = no purchase.
4. Keys and better dates must be certified.
5. For certified coins, buy only coins from the eBay 4- PCGS, NGC, ICG, ANACS.
6. Avoid buying from overseas.
7. Check the feedback of the seller, and look at their other items.
8. If it doesn’t look or feel right, move on.
9. For raw coins, YOU determine the grade; don’t let the seller make up your mind for you.
10. ‘Estate coin’, ‘deceased relative’ stories, and ‘hardship’ stories are almost always used to sell bad coins.
11. Ask the seller questions, if you have them.
12. Read the description thoroughly.

OKbustchaser · March 25, 2008 2:05AM

<< How do i make sure I don't get scammed on E-bay Please Help! >>

Only by staying off E-bay can you make sure.

You can increase your chances of buying wisely by checking previous feedback for the seller, asking your questions before bidding, and most improtant of all ONLY BIDDING WITH A CLEARLY DEFINED RETURN POLICY.

Edit to add:

Always, yes ALWAYS remember...If it seems too good to be true--IT IS!

puritan9 · March 25, 2008 2:07AM

Pay by Pay Pal with a credit card and do a charge back.

cmerlo1 · March 25, 2008 2:09AM

<< 

<< How do i make sure I don't get scammed on E-bay Please Help! >>

Only by staying off E-bay can you make sure.

>>

I like that one!!!

ziggy29 · March 25, 2008 2:09AM

<< Pay by Pay Pal with a credit card and do a charge back. >>

Yes, a PayPal purchase with credit card provides more buyer protection. But as for a chargeback, only do so if you have already tried to work with the seller in good faith, you got something that wasn't as described (or didn't receive anything), and the seller won't be reasonable.

Buyers that would initiate a chargeback without trying to work it out with the seller are block-fodder, IMO.

ModernDollarNut · March 25, 2008 2:12AM

Don't be discouraged! We all have had our painful learning eperiences, the "tuition" we've paid to learn the ropes.

But know that you can not avoid scammers on eBay, you can only rely on the protection afforded by PCGS, NGC. ANACS, ICG (though of these PCGS provides the strongest protection IMHO) while you pick out a series or two to learn well including its grading.

The problem for most of us is we learn something new and think we've learned it all and bid in a rush on the Bay.

I've been full time in Ikes for three years now (literally full time as I research and write about Ikes full time) and I am VERY careful about bidding on raw Ikes on ebay. Sine qua nons for raw coin bids:
- item must be returnable,
- seller must have decent volume and feedback,
- I am not basing a bid on the grade I see in a photo (grading is a dynamic activity and impossible from static pictures) let alone what the seller is describing (rare exceptions when I know and trust a given seller),

THERE ARE BARGAINS ON EBAY but odds are strongly against you finding any of them unless you know a given series really well.

Lurk and participate vigorously on this Board and you will shorten your learning curve. Rob

Russ · March 25, 2008 2:21AM

<< but I recently paid $400 for a coin and when I brought it for authentication was promptly told it was a junk coin. >>

How about some details?

Russ, NCNE

Coxe · March 25, 2008 2:23AM

eBay is dangerous for someone like you. Join Heritage and use their auction archives. Bid in their auctions. They have internet auctions twice a week (Sun and Tue) with relatively inexpensive offerings. Avoid the cleaned ones (NCS, and ANACS net or details grades), bid according to the norm from the historical recent prices shown on the lot page (ignore outliers), and choose based on what you find attractive and fitting for your collection. There you will safely receive the coins you wi and pay for. eBay is a crapshoot too much of the time as to the quality of the merchandise and the transaction. There are bargains now and then but also too many traps to fall into unless you are very aware of things.

mrpotatoheadd · March 25, 2008 2:28AM

<< Buyers that would initiate a chargeback without trying to work it out with the seller are block-fodder, IMO. >>

Buyers that would initiate a chargeback without trying to work it out with the seller should have their eBay account revoked. There is no excuse for refusing to work with a seller (or a buyer, for that matter) who is willing to help out in order to resolve a problem.

Hugegut · March 25, 2008 2:28AM

You can search the forum archives and find a lot of info about doctored coins and fakes.

johnsim03 · March 25, 2008 8:14AM

<< 

<< Buyers that would initiate a chargeback without trying to work it out with the seller are block-fodder, IMO. >>

Buyers that would initiate a chargeback without trying to work it out with the seller should have their eBay account revoked. There is no excuse for refusing to work with a seller (or a buyer, for that matter) who is willing to help out in order to resolve a problem. >>

I believe most of these types of disputes involve sellers who think that they can term away eBay or PayPal policies by sticking some ridiculous statement
in their auctions, such as I will not be responsible for packages where no insurance is purchased or some other moronic nonsense which means nothing.
Sellers who do this deserve a chargeback, IMHO. That is, if the merchandise is not received. And, sellers with bogus terms are not the type to offer to
work with customers anyway... I am not recommending chargebacks, mind you - just pointing out that the advice to use PayPal buyer protection, and then
credt card chargeback as a last resort is the ultimate in consumer protection...

Ask any businessman - chargebacks are a cost of doing business. Not unique to eBay or PayPal.

John

seemyauction · March 25, 2008 8:53AM

CoinAuctionsHelp.com

Has some useful info on the subject.

fc · March 25, 2008 9:03AM

(Mr Hall, please take notice)

I suggest you ONLY buy PCGS graded coins from sellers on ebay
who have stellar feedback.

JCMhouston · March 25, 2008 2:10PM

I can honestly say I have never bought a raw coin on ebay, and can't imagine that I ever would. It is simply to easy to hide problems with artful photography, and way to many fakes. If someone is offering a $400 coin raw, or in a third world slab then there is probably a reason for that. If you are collecting modern, then just stick with slabbed coins from the top two TPG's (PCGS/NGC) from US sellers.

If you are collecting classics then I would really suggest using one of the well known auction houses such as Heritage Numismatics or David Lawrence, yep even they can let one slide through but it's very uncommon. I have bought a couple of slabbed classics off ebay, but probably 80% of my auction buys come from one of the two listed above and I usually wind up getting the item cheaper than on ebay. I have bought a few things on Teletrade also but sometimes the pricing gets out of hand.

As someone mentioned join the Heritage club, it's free. You get access to all sorts of auction records and a system for storing details of your slabbed coins on-line.

How do i make sure I don't get scammed on E-bay Please Help!

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