I just won my first Heritage Coin!

BNB: Just been reading the thread so far but I'm curious if this will this be the first time you list/sell a coin on eBay? Will Selling on eBay be as much of a learning process for you as buying coins has been?

edit... just read your first ebay listing critique post...

 

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Well, since you don't have the coin in hand yet, you can study it and decide if you want to keep it or return it. What's the return policy? You're not committed to this coin until you have it in hand, right? So see what it looks like in hand.

 

No, I don't.

I also think you have quite a bit to learn about what it takes to "flip" a coin and the transaction costs in so doing.

However, I do think you will learn a lot through the process, so regardless of if you end up losing a bit of money, I think the knowledge you gain will be very valuable -- and I hope share it with others so they also can learn.

Good luck...Mike

 

We have to learn sometime, right?

There's really no other way to learn unless you know someone that is mentoring you 100% of the way and even that isn't a sure bet.

 

I do not believe that Heritage auctions allow for returns. However, I could be mistaken as to their terms & conditions on internet-only auctions (and seem to recall something to that effect).

 

Of course you do, and you're right!

Live and learn, brother.

 

To BNB,

You are the one to decide if you like the coin or not. According to your first reaction, you were really excited to have it, and it's a big upgrade for you. That's good.

So don't 1) second-guess yourself based on other people's opinions, or 2) talk yourself into a coin that you don't want. Those are the extremes. It's a nice coin and at least a few people over at PCGS thought so too when they graded it 65. Like I said, even a 65 coin isn't perfect. It's just the overall effect on you when you hold it and look at it that counts in the end.

 

They do allow returns for internet winners since the coin was not seen in hand.

The catch is there is a hefty return fee, I can't remember how much but I think it was on the order of 15-20%.

 

Following are the terms which I think are applicable. And if so, returns from internet-only auctions are allowed without a penalty:

 

Mark I was a bit off on the fee but right in your quoted material:
"A non-negotiable return fee of 5% of the purchase price ($10 per
lot minimum) will be deducted from the refund for each returned lot or billed directly. "

 

In my opinion only...coins are not houses...you read everywhere today about people buying and flipping things....coins and Paper Money are objects of Numismatic appeal and like everything else holds a market, and a market that is softened up quite a bit....the economic conditions are effecting this and most every other market except Walmart!

I do not see this as an easy flip (for profit)....it is sad to think that everybody and their brother is trying to be a Dealer....

Now I am not trying to give you a hard time but don't you think for a moment that Heritage did not make the premium on this coin already, they did!....if the market was in a hot frenzy I would say different, however, this is simply not the case.

I wish you luck in your endeavors...


RickieB

 

Thanks - I had stopped reading just before that point, not having seen mention of a penalty. That will teach me.

 

Granted a 5% hit if you are not happy with the coin is very minor compared to trying to sell it an break even.

I'd take the 5% hit almost any day.

 

While not trying to encourage the OP I have seen people do a quick flip of coins on ebay, yet I am not sure this one will. You just never know what people will do on Ebay. I do not think any of you all can predict what will happen on ebay - stupitdy abounds on the bay at times. And they flip cleaned coins by just cracking them out of the cases. But please do keep us updated on how it goes.

As for the coin, while not an expert on Morgans I still think this is typical of 65's you see in TPG holders. Yep it does have a bad hit on the cheek and I think the reverse has a couple, but I think it still qualifies as a 65. Choice 65 - maybe not, but still looks nice to me.

 

SSorry but I keep hearing this OP term. What on earth does it mean? Ordinary person?

 

Sorry, OP is the original poster.

 

Ohhhhhhhhhhh. Okay, thanks. I kept thinking it was "Ordinary person" I'm like, "I'm no OP!" lol

 

Deleted for redundancy.

 

Thanks Mark!

 

You're welcome, Mike. You might have missed the part I did, near the bottom, which CrustyCoins pointed out to me: