Buying Tips for Coins on eBay

Before I launch into this thread full speed ahead, I'll reserve the next 24 hours for someone to tell me that something like this already exists. If not, I have valuable information to share about buying coins on eBay. I also know who the reputable dealers are, some of which I am getting to know on a personal level. So before I begin, I am going to wait for the next 24 hours before I start to post my eBay buying tips for coins.

 

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There has been a quite a few "tips" posted on CT over the years, but sometimes they're buried in other threads. It's always a good idea to post info for newer collectors to view, as eBay can certainly be both a boom (to those with the knowledge) or a bust (to uneducated or inexperienced buyers). You will find members here that love eBay, and members who hate it... for both buying and selling. Basically, it is what it is; and the more you know about it, the more familiar you are with its idiosyncrasies, the better off you are. So... post away!

 

Dang, I hate math.

Lets see here now, 24 hours take away 30 minutes....hhhmmm

24. naught naught minus .30 minutes = 23.30 more hours. I knowed this here 6 grade edukation wood pay off.

.

 

Why wait? Just spill your info already if you have it and plan to post it anyways. Not like it's going to hurt anything by posting more tips and tricks on a public forum.

 

The general advice I give is don't buy coins on ebay. I have completely stopped buying there. But if you are going to buy there the usual advice given (now almost clichés, but good ones) holds: if it looks like too good of a deal, it probably is; does the seller have any real credentials?; does the seller have lots of negative feedback?; does something "seem fishy"? And etc., etc.

Buying off of ebay is always a risk unless you're buying from a dealer you know who happens to have an e-bay store, and knowing that usually comes from direct personal experience. I would even want to check out and personally try any dealers on a referral list.

 

"The general advice I give is don't buy coins on ebay."

It's possible to buy some truly wonderful coins on ebay. I have done so many times over the years. Buying from ebay is similar to buying from anywhere else; know what you are doing and use your head.

 

This feels like a Larry the Cable guy skit.... He said he was watching the news and it said "learn how to protect yourself...details at 11.....what if something happens to me around 7:30 ....8 oclock?......let the tips begin. I purchase off of ebay, so any input would be helpful.

 

Auctions with no reserve, listed without key words (silver, .999, ect..), that end during the middle of a work day. - These are what I look for. :thumb:

 

You don't need eBay to spend money foolishly. Caveat emptor is the best advice no matter where you shop. I've gotten some fabulous deals on eBay.

 

i have been buying and selling on ebay for over 12 years. i couldn't disagree with you more. if you are an educated buyer you can get many amazing deals on ebay. there are also plenty of very good deals there. as with anything if you don't know what you are doing you will get burned. plus with paypal's buyers protection and a lot of sellers offering 14 day money back returns how can you go wrong. so i guess we can agree to disagree. :thumb:

 

I live so far in the boonies, that I am 50 miles from nowhere! Coin shop visits require taking a meal!

For me, eBay buying from a reputable seller is a God-send! There are good deals to be made, and sometimes it is fun to gamble a little if the photo sucks and the price is low.

Bill

ps. I am confused as to why the OP feels the need to hold his info before releasing it to the masses...

 

German Silver is not silver.

"Buy it Now" deals usually suck.

Don't get macho.

 

As far as BINs go, a lot of sellers give a "Make an offer" choice - I've occasionally used it and I was pleasantly surprised at how much lower than the BIN price the sellers were willing to go. One however, told my my offer was insulting, lol. But he didn't come back with a counter offer, and we were too far apart, so I moved on.

 

Only bad thing about listing silver with a best offer option is you get 4-5 people as soon as its listed offer 40% melt. Of course I decline, but I guess I could auto decline. Just so many darn clicks!

 

...at least the ones you see, because the good ones get snatched up in the first minute or two. The longer a BIN auction stays up, the less likely it's a good deal, unless there's some fatal flaw in its title/description/photo. Like the time I unaccountably clicked on an auction titled "1886 Dollar" with a photo of the coin and a BIN of $150, only to find that it was actually for ten 1886 dollars. Nice ones, too, several uncirculated with nice rim toning.

It's the nature of eBay that good buying opportunities are hard to find -- because if they were easy to find, others would buy them first, or bid them up.

 

17 Hours to WAIT!

Myself always look on 100% Feedback and how much year he/she stay on eBay. I also check if the SELLER is BUYING on other member from CHINA! That's all...

 

Regular no-reserve auctions stimulate activity but can easily be ruined by a non-serious bidder at the last minute or even earlier. They don't pay and you have no recourse--they can even leave you NFB. BINs are safer and I always include a Best Offer option. This way you can vet your buyers rather than be victimized by them.

Auto-decline saves a lot of time and trouble. There are a lot of bozos out there making ridiculous bids and this spares your nerves or whatever it is you have at stake

 

I have a coin for sale on E-Bay with a price guide value of $1,500. There have been two offers made on the coin since I started the listing. The first clown offered $50 and the top clown offered $19.99. Setting the auto-decline feature is an absolute must in order to keep your sanity. Occasionally, I look through the offers on my coins and add these people to my blocked bidders list.

 

Holy Cow!

The worst Best Offer I ever had was when someone submitted a Best Offer for the 2009 Ultra High Relief double eagle and offered me about 10% under melt.

 

These guys made those offers on a rainbow toned NGC MS67 SLQ