Selling Coins Online

So, I have been going through my collection and discovered that the vast majority of it consists of low grade coins that have minimal to no interest to me. I was thinking about liquidating a large portion of my "junk" collection and then finding one or two pieces that I really like and purchasing those.

My initial thought is to sell them on eBay in lots. For example, I have a bunch of low grade IHCs in cardboard 2x2s. I figure I can sell them in 5-10 coin groups.

Any thoughts on the best way to do this. I don't need to squeeze every cent out of the coins but I would like to sell them for as much as I reasonably can...and I don't mind doing the leg work and selling them individually or in small groups. I'm not in a huge rush.

However, I have never sold any coins on eBay...only purchased on eBay. Is this a good place to sell or will it cause me more trouble than it's worth? Also, any advice on selling online? Again, nothing is high grade.

Finally, as far as packaging and shipping. I figured bubble mailers is the way to go. I assume they can be found in bulk at a reduced cost. Any thoughts?

 

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Remember that you will be paying 10% FVF and 3% PayPal fees, so that will eat into the sale a bit. One problem with small, low(ish) value lots is that many buyers will not want to spend $5-10 on a few low-grade IHCs and then pay $1.69 for shipping. You can offer free shipping and hope to entice a few more dollars out of buyers, but this doesn't always work. If you have many non-key dates of a particular series, it may work to your advantage to sell them in slightly larger lots (and maybe eliminate the 2X2s). Going rate here at shows is about $1-1.25 for common date IHCs in G+. You should be able to get close to that selling at a show, I would think, if you want to try that route.
In any case, I'm in a little bit of the same boat with my own collection, so best of luck!

 

I have thought about selling on e-bay too, but didn't know if it was worth the trouble. I would suggest that you parcel them out in lots and sell them right here on CoinTalk. You could get paid through paypall or by checks or whatever. Perhaps I am wrong, but I think we have a trustworthy group of people here.

 

After the shipping supplies & costs, and the fees, you're likely better off dumping it all at once at a coin show or shop. Less trouble, no returns, no feedback, no lost packages... just wash your hands of them all at once and walk out with cash. Nice and easy.

 

If I do decide to use eBay...I remember reading here (somewhere) that they will hold the money for a while at first. Is there any truth to that?

 

yes new sellers, Paypal will hold the funds for a week or so.

 

OK, do you know for how long they do that?

 

I forget, ebay explains their policy when you sell. It may be differnt for you because you have a history with them as a buyer

 

I have heard they hold it one month or until you get positive feedback - whichever comes first. Don't hang me with that because I have never been in on that.

You did not say just how much you are selling ($$ or quantity), but a store charges you only 6% fees and you can get a 20% discount if you sell enough both quantity and $, but they charge for it . The break even point is about $400 - $500 sales per month. BTW, the 20% discount can apply with or without the store.

 

I don't think it will be that much. I have several hundred coins sitting around probably...but I'll be selling them slowly as I have the time. I doubt a store is worth it.

 

No, more like 21 days. I learned the hard way. Your also responsible for the transaction beginning to end and a problem buyer can make things very difficult for you.

 

C'mon, sell them here.

 

I will probably try that first.

 

Hey bkozak, are you the same eBay seller I have just bought some toned Roosevelt dimes from? If so, I have you saved as one of my favorite sellers. Good stuff.


Sent from my iPad using Tapatalk

 

yes. that is me. mailed today

 

Just "Food For Thought", you may try eBid for the learning experience, as many eBay sellers have gone to that venue, and appreciably increased their prices relative to that which they would net on eBay. If you price close to that which you would net on eBay, I believe there would be little competition. There needn't be any fees on eBid for a seller, but coin buyers seem to be relatively frugal/infrequent on the site, From my experience, I believe you may be pleased, as your position in the selling Que remains constant for a given commodity. JMHO

 

Maybe we can

Doing such with ebay may save money, but it removes protection, but not for me to say. However coin B/S/T offers must be in the correct subforum, and there are different rules there also.

 

before selling anything on ebay, always run a search of it and click the sold only option, this will give you an actual idea of the worth of what your selling and what you may possibly expect to get. than you may decide better from there if you wish to make the effort to sell it in the first place

 

http://www.newlifeauctions.com/calc.html

 

Agreed.

eBid and Bidstart are good places for lower-grade coins. I've purchased common stuff from both, and they were both VERY good online stores, as far as getting what you bought and shipping costs. I've never seen LOTS at those auction sites, though. Something to check out.

The biggest advantage of ebay: Lots of people will see your coins.

I've sold on Ebay before, and the fees get to you. ...and then there's the scumbag buyers who engage in refund fraud (ie, they ask for a return, send you a lower-grade piece of crud than the one you actually sold them, oh, and ebay tells you to give them the refund!).

Chances are, you probably won't meet up with those kind of buyers on your first try at ebay. Any buying or selling online is somewhat of a gamble. If you're selling lots, ebay does work. I've done it before...

Bubble mailers work well, but I taped and sandwiched the 2X2s to two heavy pieces of cardstock and shoved 'em in the mailer. Worked everytime.