I've been checking out auctions that might contain overlooked treasures on eBay. I was taken to task pretty sternly in another thread for being attracted by what was, in all likelihood, a fake coin. I'm treading a bit more cautiously now, but I'm still willing to take some risks. In this auction, I risked about $50 over the calculated ~$200 silver value: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=300506894642 ...based on the assumption that the seated coins were worth well above melt, and that that fuzzily visible Barber dime might be nice. What's your take on this auction? What would you expect of the barely-visible or not-shown coins? I'll follow up tomorrow with more info about what I actually got. I plan on doing this for several "gambles" that I've taken or will take on eBay over the holidays; I'm hoping feedback will help me tune my judgement, and maybe it'll be informative for others as well.
That seems better because key dates aren't mentioned just some "junk" silver. I don't think consecutive overlooked treasures is the way to go with collecting. Treasures aren't going to be found as frequently by chance because the sellers are trying to make money as well. Instead it's the exact opposite, The real treasures are found if you know what you are buying.
Well, yes. But sellers do sometimes overlook things, and heaven knows bidders do. Treasures, or at least bargains, can be had if you spot something the seller and other bidders have overlooked. This can happen when the description is vague or incomplete, and the photo reveals more information. Here's an example where the seller probably didn't know what he/she had: http://cgi.ebay.com/40-Barber-Liberty-Head-Dimes-90-Silver-Unsearched-d17-/220714621900?pt=Coins_US_Individual&hash=item33639ddbcc However, this seller plays it smart by posting large, high-res photos showing the obverse and reverse of each coin. That let industrious bidders spot the several key dates in this lot, driving the final price well above the going rate for sight-unseen heavily circulated Barbers.
Looks like a fair deal if all the coins are legit! It appears that thats a 1906-D barber dime and cant tell for sure from pics, but it appears to be in AU or better, and Au-50 lists right around $75! And the 1853 Liberty Seated dime on the bottom right side looks like it has no arrows near date, and appears to be in AU as well, and if it is it lists right around $500! It probably has arrows but i honestly cant see them in the pictures.... With the arrows in AU your looking at close to $160 retail. Just with those few coins your looking at your money back and then come if they are what they appear to me. Good pick up in my opinion!
That seller surely knew what he was listing. "unsearched" means nothing. Those coins dimes don't look AU.
If you've got the money to "gamble" like that, more power to you. If I don't know what I'm getting (issue/date/mm) I either ask or ignore the lot.
LOL! I didn't do that well. The 1906-D dime looks to me to be EF-AU details, but probably cleaned at some point, and now spotted unattractively. The 1853 is actually a HALF dime, with arrows, damaged and cleaned. Neither was a disappointment; when I see a "shiny" coin in an auction like this, I assume it's cleaned, and bid accordingly. The seated halves are better than I expected; one looks like G details with some old scratches, and the other looks maybe VG with no significant problems. The two proof Ikes are impaired; one has spotting around a hole in the reverse of the holder, and the other has some schmutz that appears to be on the coin itself. The Canadian dollar looks pretty good, with plenty of luster, but it's nothing special. Overall, I feel like I got my money's worth. It's the hunt I enjoy more than the having, so I actually do find this shopping style more rewarding than picking through a coin store's inventory. I'll try to post a run-down with some photos later this evening.
Detailed images Just for the sake of completeness, here's what that half-dime, Barber dime, and the seated halves look like up close. I don't know what someone did to this half-dime -- it looks like they started to try to drill through its center, but couldn't quite figure out how: Now that I've examined it more closely, this dime looks like high VF details to me, but it's had a hard life and probably a cleaning or two, and it hasn't aged well -- worse skin than I had as a teenager! This half is G at best, and the obverse scratch drops it further, but I still think it's not ready for the melting pot: This half just misses VG, I think -- the apparent hit under the breast is actually a cut in the Mylar, and I don't see corresponding damage on the coin itself: I won't be tedious enough to post photos of the other coins; none of them were particularly surprising. I'm actually somewhat pleased with the Barber dime; even though it's got problems, it's nicer than any other Barber coin I've had so far. I'm quite pleased with the halves, although I may try to resell them and put the money toward a type example in better condition. Overall, I don't regret my bid, although I'm sure the seller doesn't regret it either.
I agree - sometimes buying a lot like this is a great way to get deals. As long as you bid based on the coins you can clearly identify (and then assume that anything blurry or poorly described is junk), you are positioning yourself to get a pleasant surprise. As a collector of US Philippines coins, I'm also sadly resigned to seeing those coins poorly described. In that lot, what was the peso you won? If you're willing to part with it, I'm willing to pay a bit over spot (unless its holed or sea damaged).
That's the strategy I generally take, sometimes going out on a limb a little more if I'm very curious or hopeful about the unclear parts. I find that those "pleasant surprises" are really my favorite part of this whole undertaking, much more so than picking out a perfect particular piece described in complete detail. Not holed, not sea damaged, but apparently MACHETE damaged?!? It's a crying shame, too -- I find myself quite charmed by this obverse design, and while I've only ever really been interested in US coinage, I might try to pick up a nicer specimen of this one day.
Well, these types of listing have similarities to PM investments or buying stock. Never purchase what you cannot afford to lose.
the half dime looks like it got used at a machine shop. when you dont want marks from the lathe chuck, you drill holes in both ends of the piece, and put it between two points. now the chuck wont turn the piece, so you use a type of clamp, which the chuck turns. it attaches by tightening a bolt pushing the piece against a v shape. the downside is that it leaves a nasty mark on your piece (from the end of the bolt). a quick trick... put a penny between the piece, and the bolt. the coin gets the mark, your piece does not.
Thanks for sharing. Yeah, I'm not sure what would do that kind of damage. The 1907 is a pretty common date, but still a nice silver piece. And, where else can you find an American peso?
