I was thinking about selling a few of my coins but see that the online market is very messed up. But my question is. Is it good practice to look at whats for sale just like what i have a use a price that is close to what is online? My thought is that for an example if a wheat penny cost 50 cents on eBay ( plus shipping) i should then ask for about 50 cents for my coin. Since i wont be shipping them ( i plan on using craigslist and social media as a market). Am i right or is there a better/different way to do it?
It would help if we knew the grade, dates and denominations of the coins you plan on selling. "A few of my coins", if worth only fifty cents each, hardly seem to be worth the effort. Remember, eBay prices are normally somewhat inflated by an over abundance of "bidiots"... so despite your opinion that the "online market place is messed up", it is normally messed up in favor of the seller.
Perhaps you could clarify exactly what you mean by "very messed up"? Perhaps? If you're talking about offering individual coins ebay-valued at $0.50 a pop, I am not sure how much action craigslist will get you, but please be prepared to waste more time that it's likely worth. Most who scour craigslist are in search of home runs and not saving on widget shipping charges, especially with gas still pushing $4/gal. To be upfront, I've no idea what wheat cents sell for $0.50ea plus shipping on ebay, but if you're just wanting to unload very low value material, it may be best to try offering bulk or in lots. Even though you're not likely to achieve the per-coin prices you may be hoping for, it's much less a headache and hassle. However, it's a different story if you think trying to sell such coins sounds like an enjoyable experience, and do not care about the money or wasted time. Either way, good luck with your endeavor.
I've been buying on ebay for a long time. I'm not a seller but a buyer. If I were a seller, I would start slow with my less valuable stuff to understand the process. If you lose a little on something like USD$10, big woop. As you feel more confortable, move to the more expensive stuff. It is kind of like starting a business. Only fools would start big. Start small and work you're way to the top.
well and that is what i was thinking. A few pennies here and a few there i just dont have a clue on how to price them.
The various coin magazines and newspapers have plenty of retail ads for Lincolns, by date and grade, so competitive pricing shouldn't be a problem. I suggest you make up a $10 lot and offer it here. Know your postage costs first. No one sells 50c items on CraigsList. And don't take your photos with a cellphone. Often you can generate better images with a scanner than with a camera, although it takes some practice. See my recent ad for old Swedish coins (now sold) for top-notch scanner images.
So many ads on CT fall short of working for one reason, those sellers don't put any kind of price on their coins. Even a price like XX.XX ( realistically over expectation ) but with a comment such as Best offer over YY.YY will get more action than "Make me an offer but no lowballs" ???? How does the possible buyer know what you think is a low ball? If you have no idea of what your coin is worth, why would you expect others to want it more than lowball? Or those that list coins but just put "PM me" I won't bother PM unless it is really a coin I need ( not likely) unless I have an idea of what is wanted. I have purchased many things through CT, but they have all had a price in the Ad. No big negotiation needed. If someone says price is bottom line, I believe them and act accordingly. There are probably many more members that would respond to a pricing in an ad, then having to enter into interpersonal PM negotiations with anonymous individuals. Just my comment.
