Buying Tips for Coins on eBay

Cast your search net widely, rather than narrowing in on specific terms. Otherwise, for example, if you're searching for a "plaque", you'll miss gems like this:

Penny charm plague

 

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Those kinds of offers are patently ridiculous of course. I made a lowball offer to a guy who listed a PCGS Kennedy at somewhere around 5 times the PCGS list price, which is inflated to begin with. I offered him a sum well within the range of recent Heritage and Teletrade sales - I guess he just thought his coin was all that.

 

Because his Price maybe is too much for them.. What's wrong with that offer? I do not see that offer is Bad. The seller must response for a counter offer that's all I do. If I do not want to receive or see that kind an offer, Then do it in the right manner. AUTO DECLINED this is what I DO.. Just a COMMON SENSE at ALL.

 

I can understand making a lowball offer when the seller has set an absolutely ridiculous BIN price. Ya know, like when someone lists a coin worth a few thousand for $11 million.

 

If there's a BIN 'make offer' that I'm interested in my first offer is always lower than what I would reasonably pay. I don't make ridiculously low offers but I make that offer with the expectation that the seller will counter offer and get the negotiation going. That is if there's no auto decline but I find that a lot of sellers don't even bother countering with another offer and just decline. Although the sellers that do respond we usually are able to work out a deal that we are both happy with. I really hate though that some sellers will list things and have the 'best offer' auto decline anything that's not like five dollars less than the listings price. I expect 'best offer' means your willing to negotiate but I find that's not always the case at all.

 

This ought to be very interesting. I can't seem to get that eBay thing down.

 

I should have written my opening post a little better than I did. Although the countdown by some of the members is quite humorous, and I completely set myself up for that too.
Okay, well, my first eBay coin buying tip was actually already stated in this thread. Read seller's feedback. Make sure the coin dealers you are doing business with haven't had any transactions with Chinese buyers or sellers involving raw, non-certified coins. You're more than likely to get an overpriced, counterfeit coin from these sellers. Our government seems to not take these Chinese counterfeits very seriously, so if you get duped, you won't get much help from any government agency. Also, I have heard from some people that China is also counterfeiting slabbed coins, but I don't know anyone who has actually bought one yet, so I can't 100% verify this.

 

thanks for the tip

 

eBay is like a tool if used correctly it can provide a good product and if used incorrectly will cost you alot of money. All one needs to do is use their brain and make there own assessment of the particular item being offered because ultimately you are responsible for your collection, doesn't matter what venue your using the dangers are everywhere.

 

You calling me a clown? $19.99 is a very fair price. I mean its way over melt. Price Guides? They are for amateurs :devil:

Edit: Nevermind, I re-read and your actual words were TOP CLOWN. Now that's something to be proud of. My Mother told me I'd never be TOP Anything

 

Alright everyone, tip number two: Never buy raw coins on eBay with red or blue backgrounds in the coin's picture. These most likely are counterfeit and some are way under priced. Too good to be true=probably counterfeit. I have never bought one to see if they are counterfeit, but something just doesn't seem right with those coins with those colored backgrounds. It screams China to me. I used to work in a warehouse where we imported almost everything from China, and all the pictures of all products the company bought from over there had that cheap red or blue background behind the product.

 

For ebay, knowledge + sniping = profit.

Do i buy every coin on ebay? Heck no, but it is A source, especially for the esoteric coins i buy. Anyone either buying all their coins, or none, on ebay is doing themselves a disservice imho.

 

Don't buy anything "unsearched" on there unless there's some full disclosure about the contents you're receiving.

 

Tip number 3: Never buy raw coins in bulk (often titled 'monster boxes') on eBay. You can get taken advantage of way too easily and lose money. Some people are selling MS69 rolls of 20 Silver Eagles for 4-5k, when you can buy rolls of 20 MS69 mint direct for much, much less than that. But if you do buy bulk on eBay, you should not be paying more than what silver is worth per oz, plus tax, plus whatever the individuals profit mark-up is. If you're not sure what their mark-up is, just ask, and if you feel that they are unreasonable in their mark-up, find another seller. Or, just don't buy bulk on eBay.

 

Tip number 4: Avoid raw "rainbow" coins. Counterfeiters use a rainbow streaking process in attempt to hide detection that the coins are fake.

 

So ugly!

 

I knew I would step on many toes with that last post, and I'm sorry. This is a beautiful, rainbow toned coin. Thank you for sharing.
EDIT: I removed my personal opinion from last post.

 

No toes stepped on. Toning is a matter of taste, like anything.

Some people like this type of toning, I don't.

 

Look at the coin you want, then bid. Only once, if you win great, if not fuh-gedda-boud-dit. There's many more fish in the sea and you will see the coin again. If you get a coin that is not exactly as described, send that sucker back and get a refund. If the ad says no refunds or if the person has less than a 99% feedback, then stay away unless you know the guy. Some people say don't buy coins on ebay but I think that's ridiculous. Everyone I know has gotten at least one really good deal they wouldn't have gotten if they didn't buy on ebay. It's more than ok to buy on ebay. Just realize that it could become addicting so watch yourself and if you start spending money you can't afford, then stop buying on ebay. Here's just one of my babes I got off of ebay and the sucker is rare!

 

Or lists a coin worth 11 cents for $7 million.