Ebay - A protovdo dissertation

I'm with the OP. don't have much use for ebay. I collected for many years with out it. lots of sources not just the LCS. every non slab older coin I won i had to return. now it's slabs only from the 'bay, if I look. modern bullion is OK but a lot is overpriced except for .90 coins.

 

Log in or Sign up to hide this ad.

I agree. I read the OP post as simply saying too many only buy on Ebay. I agree with that. Just like everything in life a smart shopper always price compares.

Personally, I still buy group lots if its a deal, rarely an unusual coin I see, and a few sellers have good deals and access to coins I cannot find anywhere else. Ebay is great to find unusual items or have access to deals from non-collectors. However, I am finding prices of normal coins from dealers and the like to be much more expensive than most other sources of mine. Heck, I went to Harlan Berk last week and bought coins for well under Ebay prices, and they were higher quality to boot. For any "normal" collecting, where dealers will have access to the material, I never buy on Ebay anymore, finding dealers and other auctions to be cheaper ways to collect.

I simply believe, like the OP, way too many collectors are forgetting this nowadays, and believing by definition Ebay will be cheapest. That is a dangerous assumption.

 

I buy at coin shows, coin shops, dealer websites, etc., and eBay. The most important thing about eBay is that it allows me access to coins from small dealers and collectors who don't have tables at coin shows, or a brick and mortar store or a website. I would never see those coins otherwise.

On second thought, yes everyone else should avoid eBay.

Less competition for me.

 

Heaven help me if I would have to depend on e-bay to augment my collection.......

 

It depends on what one collects.

For example, I focus on collecting a certain area of medieval asian coins. There are not many dealers outside of eBay who deal with them. So to have the opportunity to buy more of these coins from other such collectors and small dealers on eBay is a boon.

On the other hand if one collects US coins there are plenty of dealers and auctions outside of eBay. And there would be no need to ever buy from eBay if one wished not to.

 

I really wish there was a local solution for me, otherwise it's eBay that I depend on.

I do have a local coin club that has an auction, but it's a "last resort" for coins. Always worn out silver coins worth melt, cull indian head cents, modern world coins, etc. Rarely has there been anything good.


Then we have a antique store, which has all their silver coins ridiculously priced. $4.95 for a silver dime, $12.95 for a silver quarter, 24.95 for a half, and 49.95 for a silver dollar. Those prices might be okay for newbies wanting to start a collection, but it's way too much for me.

Lastly we have a pawn shop. Everything is priced at redbook, with no "wiggle room". Anything good gets picked out in a day of being out, the rest are problem coins.

I have a friend who buys and sells silver and gold, he does buy some coin collections from time to time, so I've gotten so good deals from him before, but it's not very often when he runs across stuff.

Other than that, that's all there is locally.

That one poster is right about dealers. Hundreds might visit a coin store in one day, especially if it's in a major city. So anything good gets sucked up very quickly.

When buying on eBay, you have to be very careful. I've gotten burnt a few times, but now I'm doing ok.

The nicest thing about eBay is that it has a giant selection. You can find stuff you may never even see at a brick and motor.

 

I think I have paid a fair price for coins I bought on Ebay, although I only bought three coins. I have also bought three coins at a local show and thought that overall, they were probably better. I have gotten good deals at a local PM shop but the last time I returned a couple coins because I didn't think they were worth what I bought. I think anywhere you go you can good a good deal or overpay. You can put a coin in your hand a local shop or show but you can't blow them up to a large size to see what they look like close up. Ebay, a local shop, or show all have pros and cons. A show can be good because you have a variety of sellers. Some may have better deals and customer service while others may be too smug. Some sellers also focus on certain types of coins.

 

I attended a coin show a few weeks ago. When I ask a dealer the price of a coin I remember telling them all that I could get it lots cheaper on Ebay...true story.

 

The recent precious metals boom didn't help B&M shops in my area. What few actual coin collectors they used to get in their shop all got annoyed with them turning into a metals exchange -- I have NOT visited my local coin shop in over 3 years. Not to mention, I never really liked the owner anyway, as he knows next to nothing about numismatics -- oh, and I forgot to mention, his prices are laughable. Even his "bargain board" is priced at 2x or 3x what I could find similar things online (not just eBay).

I will say though, many of the coins I buy on eBay come from reputable dealers who still have store-fronts. So, a general condemnation of eBay is certainly not warranted. JMO.

 

lol

 

+1

 

I read that too. i was wondering how small the coin store is.

 

Sometimes I have to rely on eBay to buy (mostly) and sell (sometimes) all sorts of things I would have no to small chance of ever finding on foot. I do not like selling on eBay but it has become a neccesary evil for certain items.
If I had a wish about eBay, I wish it was still the same as it was when I first joined in 1999 with the same format and fees. I can understand complaints about eBay, I have plenty myself, but it is what it is. There's not a lot I can do about that except try to sell elsewhere when I can.

 

I would rely on eBay less if my local shops and shows were open at 2am and would allow me in the door with a beer in my hand wearing my boxers.

But seriously, for what I collect, I can do better (price and quality ) elsewhere.

 

I am back to the same boat I was before. If you are buying $200 coins, $2000 coins, (and up?) I 100% agree with you. A little difference not visible in a picture can make a big difference in the price. I still say for $1 coins, $10 coins, and even $100 eBay is the best resource. If you buy a 1909- VDB in fine condition, a spot might mean it is worth 50¢ less. That will not break you.

 

So just limiting "know your coins" to know to buy certified coins, you are trying to tell me that Heritage is a better place to buy a 1954-S MS66 red Lincoln? They have sold about 65 in the last year from $15 to $38 about 1/3 for $20 or more +$8+ shipping. http://coins.ha.com/common/search_r...=16&N=51+790+231+328+4294967152+74&Ntt=1954-S

eBay only gives me access to the last 60 days. They have sold 21 from $7.75 to $22.88 with on 2 over $20 and 8 for less than $10 and only 1 charged so much as half the shipping that Heritage does. http://www.ebay.com/csc/Small-Cents...kw=1954-s+ms66+NGC&_dmd=1&LH_Complete=1&rt=nc

I have been to several shows and never once have I seen similar certified coins even competitive with eBay. The last show I was at, the ONLY dealer with a descent selection of certified Lincolns wanted $35 for a 1939 MS65 RB. OK, it was a woody, but that generally reduces its value. Even full red, that coin greysheets for $3.75. ($9.60 for NGC pricing, if you prefer)

 

They usually do in metal runups sir. Trust me, after PM calms down and the general public loses interest again, these shops will again have to cater to collectors. Exact smae thing happened in 1979-1980, and the shops who continued to try to be PM shops slowly closed in the early 80's, those who switched back to mainly collector coins survived.

 

But if you don't know coins and don't know Dick, then keep away from ebay.