what is the biggest loss you have taken on an ebay coin auction as a seller.

I haven't sold on ebay but I once too quickly bought an 1872 IHC for $47. It looked great in the photo, which said 10X. I thought it was a 10X photo but it was a reproduction (10 times larger size of an IHC 1872). I learned to read the ebay description after that mistake and not bid on things at the last second without reviewing everything in great detail.

 

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Ugh!

It has not happened just yet but back when the Double Edge Lettering Adams Dollars first came out I paid over $500 each for First Day of Issue DEL OL and INV coins. I'd be lucky to get $100 for both of them today.

Those coins and the fact that our stupid government refuses to dislodge their heads from their exhaust pipes by limiting the presidential dollars and effectively KILLING the First Day of Issue programs has really jaded my feelings on modern coin collecting of special interest labels.

Fortunately, I did not jump in on the Jefferson MEL coins.

I do believe that the value paid is the actual value of the coins with regard to the number which have been graded but once the general market loses interest, the usually take their funds with them effectively destroying the values paid.

Kinda like playing CRAPS all by yourself vs a table loaded with betters.

 

When I first got back into coin collecting in around 2004/2005, I bought a gold eagle (don't remember the date), that was in an NTC slab marked as MS66. When I got the coin and could see it in hand, it was obvious that it was not MS66. The auction was marked as 'no returns accepted', so I was stuck with it. I ended up selling it for a loss of $100.

By the way, I think this is an awesome thread as I think we all have been here at some time or another.

 

I usually take my losses when switching from another collecting area to other. Collecting would be very slow and taking all your time if strictly thinking to buy at a low price only and gain a profit later.Now I'm propably in the point that I'm earned more with coins than lost. Really don't know since I don't want to keep book on that.

 

That's right, there's nothing you can do about losing money on ebay when selling at all. You just can't call it right all the time. All you can do is pick yourself up off the dirt trail, dust yourself off and try again cowboy, try again. :yes: