Ebay mistake costs big money

Since you're a new poster, all I can say is..............

Don't let the door hit you in the butt on the way out.

 

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I have tried to use the "Second Chance Offer" and on each occasion, it was ignored.

Probably because certain scumbags have used it to scam honest buyers out of their money and most coin forums warn against accepting second chance offers.

 

What a loser, I enjoyed the inane comments by our (now departed) new member.

No loss.

But, I wouldn't be surprised if he was the same lunatic that started up on CU.

Bye, bye.

 

What is SNAD and CU. I keep seeing these and have no clue what they are.

 

"Significantly Not As Described"

"Collectors Universe" (PCGS forums).

 

yes, i know it sounds a little weird, but it was some good entertainment, something that spiced things up, made this go into a different direction. i wish him the best, but its for the better that he is no longer with us. if he was not so rude, he would have added something to the forum.
what a shame. he seemed so well informed.

 

informed & deranged

 

Thanks. I felt like I was listening in on my kids conversation and and wasn't "hip" to their "jive."

 

This post is a great example of how ebay/paypal and sellers are ruining collecting. The gold HoF coins could not ever be worth what was first received. This is gouging, plain and simple. Many people like me could not get on the site or phone in and order the coins before they sold out. A person should be able to buy a new modern coin at a reasonable profit to the lucky ones but not at a profit that should be illegal. The post also demonstrates the tricks one must endure and then the double-talk of ebay and its guarantees to buyers and sellers, before there might be relief. as in this case, there usually isn't.

 

I don't see anything here that should be illegal...it's capitalism and nothing more. It's not that sellers are just demanding these prices...people are paying them. If people weren't paying them they wouldn't be priced so high.

That said, I think a lot of this could be fixed if the US Mint was much more limiting on order size...at least for the first week or 2. If orders were limited to 1 or 2 coins (of each type) at least for a while...everyone who wanted one should be able to get their order in.

 

So if you "outlaw" certain profit margins, where do you draw the line? On a $10,000 investment, I made 4% because I had contracted to sell the coins for a certain price. And on a separate $2500 investment I made 60% profit, because I got in and out early. Would you cap my profit at 30%? 40%? Or is 20% the max that the profit police would allow? BTW, the reason I was able to get into the Mint early was because I had a really fast laptop and MiFi setup, which set me back a couple of grand in all. And I planned my purchases in advance.

Like the man sad, capitalism.

PS None of this went through eBay, where I only buy, never sell.

Best Regards,

George

 

I am not buying any of these arguments about not being able to get on the internet or to the mint site. The only way you didn't get onto the site was because you weren't trying. I got onto the site using my cell phone with 4g LTE service.....not even wifi and was able to place my order. During the initial waiting period I was placed into the waiting room which worked exactly how it was supposed to. Later that evening I went right back onto the mint's site and placed another order using my same cell phone.... no waiting room this time.

I have made this comment before and I will make it again....although the ordering limits were a bit high and with the exception of the gold, all the coins were still available weeks after they went on sale. So if you didn't get your order in, you were either too darn lazy or procrastinated too long. You would have had to have been living under a rock somewhere on a remote island not to have known when these coins were being released. Collectors had plenty of time to prepare and plan their ordering strategy. And as I mentioned before, most people who are using the sell out of the gold as their soap box for additional rules changes are typically people that wouldn't ordinarily even buy the gold in the first place.

 

I couldn't agree more, Doc (yes, DMD, you ARE a Doc!!... ).

Those that had the opportunity to buy and have them graded same day at the Baltimore show, man, they had a HUGE advantage over the 99% of us in the 'waiting room'. Those of us who couldn't be in Baltimore, boy, what a nightmare, with shipping dates bouncing like a Super Ball. On the other hand, I can't see spending hundreds (or more) for a 'special label', those that do, they're nuts. An MS69 is an MS69 in ANY label (though, a PEDIGREED label, say Norweb, yes, I can see a premium), and 'First Strike' (LOL, what a marketing gimmick!), unless the coin can actually be authenticated as THE first one struck, ONLY that one should be considered for the 'First Strike' designation (hence, I have an easier time swallowing NGC's 'Early Releases' designation, but still won't pay a premium for it). If those that 'have to have it NOW' are willing to pay big bucks, then let them. They obviously need to be more 'schooled' in the hobby, as it's dangerous to have enough money to make that kind of purchase, but that comes with knowledge, as in a year, those that paid huge money early on, are going to learn a big fat lesson...otherwise known as 'tuition'.

But, to the advantage and make more money to fund future purchases isn't greed, but, rather, it's being smart and taking advantage of the market (KNOWLEDGE...the seller has taken the time to LEARN), and it's basically 'Coin Collecting 101'.

 

THIS!!!!!

 

Yes you can take whatever someone is willing to pay for your coins. But why talk about how stupid your buyers are?

There have been plenty of threads criticizing HSN for accepting ridiculous prices for modern bullion with gimmicky labels. But the truth is, when regular people get the chance to take obscene profits from naive collectors they jump at the opportunity.

 

Yes...but there is a difference here. HSN does not sell coins for the going rate...the market is not dictating those prices. They over inflate their prices and try and gouge people. The HOF coins are selling for the current going rate. I agree, those prices are a little ridiculous...but that is what they are selling for today. These are not naive collectors being fleeced by "bad" sellers. These high prices are the current going rate.

 

Despite all the emotional arguments on this thread, I don't think that Ebay is ruining the hobby at all. My experience has been exactly the opposite. Most of the coins in my collection were purchased prior to Ebay, and after a long hiatus I have finally had enough disposable income to get back into collecting during the past couple years. Having a worldwide market at my fingertips with thousands of coins to choose from makes me feel like a kid in a candy store. During my previous collecting days my options were limited to either local coin shops or to internet auctions with no photos, as there was no digital photography that I can remember even back in the 90's.

From my perspective as a buyer, I would not feel any guilt whatsoever about returning a coin for any reason to a seller who advertises a return policy. That would include a price drop. If I were purchasing a volatile, hyped up item such as the HOF set, I would view the return policy as protection for me against short term downward fluctuations in the market. Since that return policy would be part of my decision making process, I would expect the seller to honor their side of the deal.

However, if the seller did not offer returns, I would only return the coin if it had legitimate issues that weren't visible in the photos. I have returned a couple of coins that despite being certified had issues not visible in the photos that I considered to be game changers. In those cases I was prepared to invoke Ebay's "SNAD" policy.

With that being said, I think the complaint about a smudge on the slab is completely lame and should not be grounds for invoking buyer protection. The buyer should have just referenced the return policy and given the real reason for the return, or not given a reason at all. The fact that he gave a stupid reason has contributed to this thread being 9 pages long.

 

Had it not been for eBay, I might not have gotten involved in the hobby.

 

As a seller on E-Bay for several years, I can tell you that when someone returns a coin, I never want to hear their reason. Typically, it only serves to add insult to injury.

 

I wonder what the coin market would be like now if Ebay and other internet venues were not boosting the hobby.