This is Why you do Buy Raw on Ebay

Barndog · March 9, 2010 5:03AM

$250 on ebay. Nobody else bid. Sent to PCGS and received MS-62 grade. Can anyone else show me a mint state 1829 LM-14? Well, according the the latest JRCS census, this R-4 die marriage is known in MS grades in two collections, both of which hold an MS-61 example (one is PCGS MS-61, the other is NGC MS-61). One of the MS-61s is mine already and the other belongs to a collector in Tennessee. So what I have here, purchased raw off of ebay, is the finest of currently-known specimens of this scarce die marriage. Well worth the "risk" IMO. I figure it is worth between $1000 to $1500 because of its status as an R-4 and the finest we know about today.

Seller's pictures:

mgoodm3 images:

STONE · March 9, 2010 5:05AM

Dang, congrats

RYK · March 9, 2010 5:06AM

Now, I do not know whose advice to follow: Barndog's or BNB's.

Fairlaneman · March 9, 2010 5:08AM

But, but, but you can't buy raw coins on ebay because all you will get is junk! Anyway thats what most say here.

Nice score, nice coin.

Ken

kryptonitecomics · March 9, 2010 5:11AM

I will say....if you know a lot about what you collect..and you are good at interpreting Ebay images..your risks can drop dramatically.....but yes there are still risks involved. To date I have bought dozens of nicely toned raw coins off ebay and all have holder no problem. On the flip side I bought a $45 rainbow toned Morgan last week with a crappy image becuase the toning progression and pattern looked correct. Even in hand the coin was well done but I was still pretty sure a doctor had made it

123cents · March 9, 2010 5:12AM

Congrats! Beautiful coin.

MidLifeCrisis · March 9, 2010 5:12AM

Congrats! Well done.

It's still not good advice though.

DoubleEagle59 · March 9, 2010 5:16AM

if you really know what you're doing, it's a great place to buy raw.

MajorDuty · March 9, 2010 5:16AM

Congratulations, Barndog. Good eye.

I've never had a problem buying raw on eBay. I'd certainly think twice at that price, though, to be fair.

Fairlaneman · March 9, 2010 5:17AM

"It's still not good advice though."

It is good advice if you can do this....."I will say....if you know a lot about what you collect..and you are good at interpreting Ebay images..your risks can drop dramatically.....but yes there are still risks involved."

Ken

PerryHall · March 9, 2010 5:19AM

You got lucky. Just remember that a broken clock is only right twice a day.

BNBAnalytics · March 9, 2010 5:20AM

Good job, but the odds aren't in your favor if you keep buying raw.. Just sayin!

Barndog · March 9, 2010 5:20AM

<< You got lucky. Just remember that a broken clock is only right twice a day. >>

it's not luck when some people do it.

dizzyfoxx · March 9, 2010 5:23AM

<< You got lucky. Just remember that a broken clock is only right twice a day. >>

Good one!

WaterSport · March 9, 2010 5:24AM

Let me say congrats on your efforts.I love gambling on Ebay. A score makes up for any loss and guarantees buys/fines that would be out of my reach if they were already in a TPG holder. I think why people are against the practice of buying a raw coin is that they only think coins slabbed are safe. The trouble is, I can give you a list of coins I bought holdered, only to have them rejected for various reasons when trying to cross them, even PCGS holder coins that tarnished because they were cleaned. So to me, as long as your knowledge is bigger than your spending account, why not take a risk now and then. Just like a good gambler, come the end of the year, your winnings should still have you ahead.

WS

drwstr123 · March 9, 2010 5:25AM

<< Let me say congrats on your efforts.I love gambling on Ebay. A score makes up for any loss and guarantees buys/fines that would be out of my reach if they were already in a TPG holder. I think why people are against the practice of buying a raw coin is that they only think coins slabbed are safe. The trouble is, I can give you a list of coins I bought holdered, only to have them rejected for various reasons when trying to cross them, even PCGS holder coins that tarnished because they were cleaned. So to me, as long as your knowledge is bigger than your spending account, why not take a risk now and then. Just like a good gambler, come the end of the year, your winnings should still have you ahead.

WS >>

Wanna bet???

dizzyfoxx · March 9, 2010 5:26AM

Buying raw coins on ebay for the most part is for suckers. But remember, every now and then you might get a cherry flavored sucker.

RYK · March 9, 2010 5:27AM

<< Good job, but the odds aren't in your favor if you keep buying raw.. Just sayin! >>

Some people know what they are doing, have calculated the risk-reward ratios, and are willing to take these calculated risks.

One thing is certain. I am not going to listen to advice from some dude who knows little about coins or the coin market, and just got into coins a few months ago as a scheme to make money.

PerryHall · March 9, 2010 5:31AM

<< 

<< You got lucky. Just remember that a broken clock is only right twice a day. >>

it's not luck when some people do it. >>

With eBay and expensive raw coins there is always an element of luck involved.

fivecents · March 9, 2010 5:32AM

Congratulations!

Not every raw coin on ebay is a POS.

Barndog · March 9, 2010 5:41AM

and remember folks, buying from good sellers with decent return policies can help sway the odds in your favor (if you return stuff, which I seldom do)

UtahCoin · March 9, 2010 5:52AM

Purchased Raw off eBay last year for $260.

JJM · March 9, 2010 5:57AM

Schwiiiing, !!!!!!

GoldenEyeNumismatics · March 9, 2010 6:00AM

<< You got lucky. Just remember that a broken clock is only right twice a day. >>

I've bought hundreds of coins off eBay that I selected because I felt they were poorly represented, were unrecognized varieties, not graded correctly, etc. I felt such pieces had major upside potential. On the whole, I've been largely profitable. It's not about luck. It's about knowing what you're doing.

RadioContestKing · March 9, 2010 6:12AM

what about all those coins auctions? last weekend i was bored and went to Massive American coin auction hamiltons don'tknow if anyone else checks these out or not, again i am a newbie and learned a couple lessons, but i just don't get every coin gets sold, the whole lot, if there wasn't a deal to be had than who are all these people buying them, i bought a 1890s that they said would grade out to a 63 and a 1890 that would be a 64, i have alot of coins i inherited so i am going to send off 8 to pcgs and see what happens. Its all part of the learning process just wanted to say congrats on a great find : }

rld14 · March 9, 2010 6:15AM

3 of the more common coins in my VF barber half set were bought raw by me on eBay.

I have $190 invested in all 3, including grading fees. Slabbed these coins would bring $100-150 each and are tough to find.

Of course I have much bigger You Sucks to post this week

Barndog · March 9, 2010 6:24AM

<< would you have the link? >>

more than 90 days ago

pakasmom · March 9, 2010 6:29AM

Well done, Barndog!

It's mostly about knowing what you're doing...

WoodenJefferson · March 9, 2010 6:44AM

It could have gone horribly wrong too...but then we wouldn't have heard about that experience then would we? ~wink~ placed here.

BigRick · March 9, 2010 6:44AM

DennisH · March 9, 2010 6:56AM

I've done pretty well buying raw on eBay, but I think it's because:

1. I'm very cautious.
2. Seller must have a very high feedback rating.
3. They must have good photos.
4. They must have a return policy.
5. I limit my buying to things I know how to grade.
6. I have lots of experience taking photos of coins, so I have a good idea of what problem-free coins should look like.
7. I don't buy big ticket coins (and rarely above $200).
7. If I'm in doubt, I don't bid at all.

jhdfla · March 9, 2010 7:19AM

<< and remember folks, buying from good sellers with decent return policies can help sway the odds in your favor (if you return stuff, which I seldom do) >>

Couldn't happen to a nicer guy and one with lots of knowledge of the series. Excellent score, and BTW good words of advice above!

john

jhdfla · March 9, 2010 7:19AM

<< 

<< Good job, but the odds aren't in your favor if you keep buying raw.. Just sayin! >>

Some people know what they are doing, have calculated the risk-reward ratios, and are willing to take these calculated risks.

One thing is certain. I am not going to listen to advice from some dude who knows little about coins or the coin market, and just got into coins a few months ago as a scheme to make money.

>>

19Lyds · March 9, 2010 7:26AM

<< Good job, but the odds aren't in your favor if you keep buying raw.. Just sayin! >>

Not...................if you know what you are doing AND are willing to accept the risks.

Too many folks DON'T know what they are doing and are NOT willing to accept the risks and usually come here to cry only to be told "Don't buy raw off of eBay unless you know what you are doing".

BaseballAbs · March 9, 2010 7:29AM

Nice Job!

Connecticoin · March 9, 2010 7:32AM

Dammit, Barndog, stop encouraging ebay raw coin buying. Those poor folks could end up with disasterous submission results like this:

1 15393299 6618 1943 50C US MS66
2 15393300 6618 1943 50C US MS65
3 15393301 6618 1943 50C US MS65
4 15393302 6618 1943 50C US MS66
5 15393303 6618 1943 50C US MS65
6 15393304 6618 1943 50C US MS67
7 15393305 6618 1943 50C US MS64
8 15393306 6618 1943 50C US MS66
9 15393307 6618 1943 50C US MS65
10 15393308 6618 1943 50C US MS65
11 15393309 6618 1943 50C US MS65
12 15393310 6618 1943 50C US MS66
13 15393311 6618 1943 50C US MS66
14 15393312 6618 1943 50C US MS66
15 15393313 6618 1943 50C US MS66
16 15393314 6618 1943 50C US MS67
17 15393315 6618 1943 50C US MS65
18 15393316 6618 1943 50C US MS66
19 15393317 6618 1943 50C US MS66
20 15393318 6618 1943 50C US MS66
21 15393319 6618 1943 50C US MS66
22 15393320 6618 1943 50C US MS66
23 15393321 6618 1943 50C US MS65
24 15393322 6618 1943 50C US MS66
25 15393323 6618 1943 50C US MS65
26 15393324 6618 1943 50C US MS65
27 15393325 6618 1943 50C US MS65
28 15393326 6618 1943 50C US MS66

jhdfla · March 9, 2010 7:35AM

<< Dammit, Barndog, stop encouraging ebay raw coin buying. Those poor folks could end up with disasterous submission results like this:

1 15393299 6618 1943 50C US MS66
2 15393300 6618 1943 50C US MS65
3 15393301 6618 1943 50C US MS65
4 15393302 6618 1943 50C US MS66
5 15393303 6618 1943 50C US MS65
6 15393304 6618 1943 50C US MS67
7 15393305 6618 1943 50C US MS64
8 15393306 6618 1943 50C US MS66
9 15393307 6618 1943 50C US MS65
10 15393308 6618 1943 50C US MS65
11 15393309 6618 1943 50C US MS65
12 15393310 6618 1943 50C US MS66
13 15393311 6618 1943 50C US MS66
14 15393312 6618 1943 50C US MS66
15 15393313 6618 1943 50C US MS66
16 15393314 6618 1943 50C US MS67
17 15393315 6618 1943 50C US MS65
18 15393316 6618 1943 50C US MS66
19 15393317 6618 1943 50C US MS66
20 15393318 6618 1943 50C US MS66
21 15393319 6618 1943 50C US MS66
22 15393320 6618 1943 50C US MS66
23 15393321 6618 1943 50C US MS65
24 15393322 6618 1943 50C US MS66
25 15393323 6618 1943 50C US MS65
26 15393324 6618 1943 50C US MS65
27 15393325 6618 1943 50C US MS65
28 15393326 6618 1943 50C US MS66 >>

Couple rolls?

Mar327 · March 9, 2010 7:41AM

What were the seller's photos like - accurate or fuzzy? Well done, Sir! I'd say those with a good eye and good experience would be better at buying raw than most of us novices. And I'd think that given any quantity of buying, you'd come up with a lemon at some point. But even with those lemons, scoring this way would overshadow them, making it worth the chance!

19Lyds · March 9, 2010 8:05AM

<< One thing is certain. I am not going to listen to advice from some dude who knows little about coins or the coin market, and just got into coins a few months ago as a scheme to make money.

>>

Whoa!

I think he's only repeating what he's heard.

TennesseeDave · March 9, 2010 8:27AM

Congrats Barndog

I will have to say that I have had some very good luck buying raw coins on E-bay and elsewhere,but it boils down to this.If you are good at spotting problem coins it works well.If you are not it wont.If I spot a coin that looks promising I will try to win it.If I do and the coin passes the in hand inspection,I keep it and submit it.If it doesn,t I return it and am out only a few bucks for the shipping.It's definately a risk reward type of thing.If you don't know what you are doing,you can and will get burnt even buying slabbed coins.Obviously there is less of a risk.

gsaguy · March 9, 2010 8:35AM

Congrats Barndog! You can buy raw coins on ebay.

The 3 1878-CC's that some considered the centerpiece of my toned Morgan collection (and the ones Laura always mentioned when we met up at a show) were bought on ebay many years ago from a single seller in New York.

I wrote the seller in advance and asked about the history of the coins and if the images were tweaked in any way. His comment was that the coins looked better than the photos, and if I didn't like them, I was free to return them for a full refund. Then he said, "but you won't be returning these".

He was right.

soty27 · March 9, 2010 8:40AM

<< 

<< Good job, but the odds aren't in your favor if you keep buying raw.. Just sayin! >>

Some people know what they are doing, have calculated the risk-reward ratios, and are willing to take these calculated risks.

One thing is certain. I am not going to listen to advice from some dude who knows little about coins or the coin market, and just got into coins a few months ago as a scheme to make money.

>>

kaz · March 9, 2010 9:28AM

As time goes on, I buy less and less raw on eBay. I became tired of standing in lines at the PO to return cleaned stuff.

OTOH, I have had some success with the series I know something about:

lkenefic · March 9, 2010 9:38AM

It's "worth" $250... it will be "worth" $1000 when you find someone else to pay that amount of money for it. It could happen in this market, but then again, it might not occur for some time. I'm finding the only time one finds the real "worth" of their collection is when one sells it. So, basically something is only "worth" what someone else is willing to pay.

Leo

DieClash · March 9, 2010 9:43AM

Deserves a U SUK award at the very least!

SUMORADA · March 9, 2010 9:51AM

You got the

for nice stuff.......

Connecticoin · March 9, 2010 11:05AM

<< 

<< Dammit, Barndog, stop encouraging ebay raw coin buying. Those poor folks could end up with disasterous submission results like this:

1 15393299 6618 1943 50C US MS66
2 15393300 6618 1943 50C US MS65
3 15393301 6618 1943 50C US MS65
4 15393302 6618 1943 50C US MS66
5 15393303 6618 1943 50C US MS65
6 15393304 6618 1943 50C US MS67
7 15393305 6618 1943 50C US MS64
8 15393306 6618 1943 50C US MS66
9 15393307 6618 1943 50C US MS65
10 15393308 6618 1943 50C US MS65
11 15393309 6618 1943 50C US MS65
12 15393310 6618 1943 50C US MS66
13 15393311 6618 1943 50C US MS66
14 15393312 6618 1943 50C US MS66
15 15393313 6618 1943 50C US MS66
16 15393314 6618 1943 50C US MS67
17 15393315 6618 1943 50C US MS65
18 15393316 6618 1943 50C US MS66
19 15393317 6618 1943 50C US MS66
20 15393318 6618 1943 50C US MS66
21 15393319 6618 1943 50C US MS66
22 15393320 6618 1943 50C US MS66
23 15393321 6618 1943 50C US MS65
24 15393322 6618 1943 50C US MS66
25 15393323 6618 1943 50C US MS65
26 15393324 6618 1943 50C US MS65
27 15393325 6618 1943 50C US MS65
28 15393326 6618 1943 50C US MS66 >>

Couple rolls? >>

The seller was selling these piecemeal from a hoard. I was able to pick off a few of the nicer ones based on crappy scans.

RedTiger · March 9, 2010 11:05AM

<< 

<< You got lucky. Just remember that a broken clock is only right twice a day. >>

it's not luck when some people do it. >>

Skill and experience translates into much better odds. I'd bet the purchaser has ten or more years of experience, and is in the top 10% of graders, attributors for his/her series. Those trying the same trick as a novice collector (less than five years) or as an average grader as most collectors are, and it usually doesn't work out too well.

TwoSides2aCoin · March 9, 2010 12:06PM

I have reasons for buying raw on eBay. Whatever works to one's benefit should be an opportunity seized. Nice score, Barndog.

{edit errors in punctuation and spelling.}

bidask · March 9, 2010 12:14PM

Holy cow

This is Why you do Buy Raw on Ebay

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