In defense of ebay

I agree with the oft-stated limitations of ebay that are frequently discussed on this forum. But the question I never hear asked is, "what's the alternative?" Frankly, more often than not, your local neighborhood dealer will screw you over just as fast as someone on ebay. But because he's more familiar, it's a more insidious screw-job. I don't buy on ebay all that often, but overall, I've had more bad experiences with dealers than on ebay (zero).

Bottom line, we as collectors need to assume that anyone trying to sell us something is trying to screw us. Education is key, whether on ebay or in person.

 

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That's a pretty cynical outlook.

 

I buy the majority of my Coins & Currency off Ebay! Never had a problem in well over one hundred transactions - none - zero - zilch!
Maybe I'm just a smart shopper, Maybe I have a list of dealers on Ebay that I rely on for a particular type, or maybe I'm just lucky?
When it comes down to it, I know what I want, I search the page 2's and don't jump on the first search result, and I also have a firm grasp of nothing is free. I would say 60% of my purchases are buy-me-nows, and I never ever get caught up in a bidding war. Know what your hard limit is and stick to it! There's alway the same coin, that will pop up in a week. Patients is truly a virtue on Ebay.
Oh and by all means read the fine print, and if it sounds to vague shoot the seller a message or move on...
Know what the coin is worth before you even look - remember the book price and the realized price are two different beast!!! If your getting a two thousand dollar coin for 14.95 - well you know the old adage ---

 

eBay can be a great place to score bargains. Follow five simple rules to protect yourself, and you'll rarely if ever be left holding the bag.

--only buy from a seller who has a return policy, many sellers have a 7 day no questions asked buyer pays postage policy
--always check seller's feedback, if a seller has less than 100%, it causes me to hesitate
--only bid on coins that have great, crisp, clear photos, with a guarantee that the coin in the photo is the coin you will receive.
--know the value of the coin in the grade you want, set a max bid that doesnt exceed that price when bidding
--if it's a high dollar coin, only buy it in a slab from NGC, PCGS or ANACS

By following these five rules, you will greatly reduce the possibility of getting ripped off when buying coins off eBay.

 

Well, Mr. Coin, you obviously have not found that local dealer that is worth repeat business yet. I have been going to my favorite dealer in town for over twenty years. Never received any item that was not what it was described as. I have never seen any price gouging in his shop on new items. His grading is accurate, if not a little on the conservative side.
Bottom line is, not everyone in business makes a living screwing people. I personally would prefer to buy a coin priced over $100 in person. I want to examine that baby before making a purchase. Yes, there are honest people on ebay, and yes you are right, education is the key. I would personally never buy a non-slabbed high grade Morgan dollar on ebay for good reason. But, I would (and have) from my trusty, local coin dealer.

 

Good advice. I would also recommend reading the feedback. Sometimes positive feed back contains some clues.

Another comment I agree with.

 

I am an ebay junkie. Selling and buying. I have rarely had any problems and generally can get coins at amazing prices. What RaceBannon said is a great guideline.

 

And sometimes the negative feedback is unwarranted.

 

I agree. I saw a seller who received five negative feedbacks from the same buyer. They were absolutely unwarranted and made the seller's feedback percentage look horribe as he did not have a lot of transactions. I've had two transactions on Ebay that didn't go well, but I have had close to 150 good ones. The ones that didn't go well were the norm: Seller never mailed coin and the other seller sent a proof set that must have been stored in the Atlantic. I pretty much only buy slabbed material off of Ebay so that also cuts down on the risk of a poor transaction.

I have no local dealers that I feel to be reputable. I drive three hours one way to a dealer that I have found I like. As GDJMSP said it has worked out well as now he calls me when he comes across an item that will fit into my collection.

 

You agreed with comments that repeated what I said? but no credit for what I took the time to type? LOL

 

Better safe than sorry.

I think a better way to word that statement could be, "One must arm themselves with knowledge. That is the most important tool to avoid being screwed by an eBay seller or a local/online dealer."

Personally, I do not see a whole lot wrong with a lot of things on eBay or what local sellers do and or what they charge for items. That is there decision, and it is my decision to arm myself with the necessary knowledge to not get played.

 

Yes, and I might add that there is a lot of positive feedback that may not be so deserved also. Many not so knowledgable buyers leave positive feedback, when they probably didn't realize they bought cleaned, doctored, counterfeit, or misrepresented coins. Finding a good dealer through your own personal experiences is still your best guarantee.

 

I have found a few dealers I work with, but pretty much all of them are on the web. Always looking for more, so if anyone can recommend good dealers for early copper, please advise. I've worked mostly with Reedededge.com, northeastcoin.com, and harlanjberk.com.

My biggest frustrations with local dealers is a) not having inventory of interest in stock, which I can't fault them for - high grade early copper is tough to come by; and b) overgrading, which is of course rampant on ebay as well. Pretty much every coin I see on ebay is graded at least one notch too high.

 

Back in the day, my dad used to get steal after steal because he went into the same coin shop every Thursday, and buy everything that the dealer had yet to sort through for the week. He made a killing, but also bought a whole lot of junk in the process. My unwillingness to buy in great volume I think also prevents me from making good dealer relationships. I spent decent dollars, but am choosey.

 

"establish a relationship with a half dozen dealers. They do all the work for you. And you'll get far better material at more reasonable prices than you ever will on ebay. Usually, for less than on ebay."

You can build excellent relationships with eBay dealers, too! Race offered the BEST eBay advice!
Steve

 

I collect varieties, and Ebay is my go to source.

 

Gotta toss my 2 cents in the 'bay hat also.... imo it's the place to shop because:
1 - it offers a venue for collectors to sell back a few coins without any desired markup or business margin... many don't care what they get (like me), as they are simply either trimming down surplus collection or trading up in grade.
2 - it's a one stop show for browsing that no 15 dealers combined can match,,, like walking the floor at the world's biggest coin show and it's open 24-7...
3 - scores that NO DEALER will ever offer can be found.. I can list some I've made, have before, won't do it again here... but they can be found if you put in the time... and if you find enough, you just might,, just "might" get back the $'s you put into the hobby when you decide to get out,, maybe even make a buck or two. The odds of you (a collector) doing that buying from a dealer and fighting the margin are near zip.

Note - RACE offers up some super guidelines,, the only one I'd hesitate on fully accepting is the requisite that the auction must have a super clear picture..... there are many a collector out there that will pony up some crappy pics of super coins that get bid low and offer you a chance to swoop in..... only problem is that many dealers will also intentionally post cruddy pics in order to fool you... that's where you need to really look at the feedback and guage if the seller is a collector or a dealer.... more often than not if it's a dealer, the coin will suck, and if its a collector the coin will be nice (just my experience there).

I also do not even look at buy it now's unless I'm targeting a specific coin,,, most of them are posted by dealers,, and I try to seek out other collectors selling coins on the 'bay who often sell at no reserve in a pure auction rather than dealers who tend to load up thier stock under buy it now prices with margin baked in... again, the idea is to beat the margin !
... that said, if you gotta have that coin, all advice goes out the window... go get it, have fun.

 

I've been told by my dealer to never buy anything online, I always buy from either him or at a local coin show. I think buying on Ebay is just too risky is all.

 

Welcome, Skyler! When you live "in the sticks" like I do, eBay is about your best choice! My Wife and I assembled our Buffalo nickel collection 12 years ago through eBay (still need the three legged and 1918/7 over date) when we lived in Fallon Nevada, We got to know our online dealers through our transactions! Just be picky! Again, Race posted the best guidelines! Hope you enjoy Coin Talk!
Steve