how big would you gamble on Ebay?

So i just made a purchase a few days ago for what the title said was a PCGS graded coin with a stock picture. If the coin in question could possibly be a $1,000+ coin and the buy it now was in the few hundred dollar range, would you take a gamble? Im not going to say what the coin is, but it's a very popular variety once it comes I'll release pictures of the coin.

 

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There is a PCGS trade dollar on the bay that has blury pics but from what I can tell it looks good. I just haven't gotten up the courage to try it. I've never gambled.

 

This one was $250, but it could pay off big if it turns out.

 

Could you at least see the PCGS cert number to be able to verify the value on the PCGS site? I'm very leery of sellers that use stock pictures. I would have also asked the cert number of the coin he/she was selling.

 

If the seller has a return policy, it's not a gamble.

 

that's exactly what i was gonna say

 

A seller return policy is essentially meaningless on ebay these days; the site has really become the world's largest on-approval service as opposed to the open sales venue it should be.




In response to the OP's gamble question, do you honestly think the seller knowingly offered a BIN at less than 25% of the coin's real value? While it is technically possible, it's not likely. I do have a few questions...

-You said this "variety", so is it safe to assume we are taking about an actual variety and not a type? If so, did the seller state that the variety is noted on the actual holder, or just on the stock image and is a self attribution? If banking on a seller-attributed coin sold with a stock photo, you should have seen a HUGE red light instead.

-Did you inquire as to why a stock image was used? In this day and age there is no valid excuse for anyone selling a coin worth more than a few dollars to use a stock image. Digital cameras that can offer more than acceptable results can be had for a fraction of this coins price, so there is no reason to assume the seller (or any regular coin seller) offered cheap because he was unable to image. Even a cheapie cell phone photo says at least something to potential buyers.

-I am sure you are familiar with the fact counterfeit PCGS slabs do exist, so once this coin arrives, will you be able to authenticate it on your own? Don't rely on people here; this is something you need to be able to do yourself. Another member mentioned cert numbers, and while this is always a wise move, a correct number does not necessarily mean a good coin.

From this and other threads of yours, it seems as if you possess the "deal mentality", and as I've said many times in the past (including, IIRC, in some the OP's threads) when a newer collector possess the deal mentality, it is often a recipe for disaster. There are sellers out there looking to make a quick buck and who know very well that the deal mentality is everywhere today. Locally there are a number of people who actively search out newbies, especially on CL, because they are relatively easy marks. Time and time again I've seen such people fall prey because they focused more on the dancing dollar signs in their head than on the coin itself. I understand it is human nature to want a deal, but one must use their head and even more importantly, know their limitations when doing so. This is not to say you are unable, but please take what I've said as food for thought as only you can truly and honestly answer this question.

-You said that this would be a $1000+ coin, but failed to mention if this is a guide value or reasonable retail market value. I've sold many coins at half trends and even told the buyers that the price was market fair, but I also knew they too were searching for the profit and if offering an honest product, it is not my responsibility to protect people from themselves. Depending on the type, date, and individual coin, any guide can be essentially meaningless, both high and low; there are some coins that I would gladly pay full trends for a properly graded specimen, and others that I will not touch at 50% bid or less, so my question is: how did you come up with this potential value?

I hope that this does not come off as being harsh, but I see no reason to sugar coat. Obviously fine deals can still be had on ebay, and I truly hope this purchase turns out well for you, but in my most humble opinion, I believe the chances are quite slim of it being everything you wish. That said, I do hope I am wrong and wish you the best of luck, sir.

 

With buyers protection it seems like any items you bid on aren't really a gamble. I've boughten plenty of items that didn't turn out to what they said they were and got my money back on every single one with no issue.

 

boughten?

 

i would say that when buying most anything on ebay it is almost never what the sellers claim it to be. the sellers will ask more than the item is worth almost everytime. and with ebay coins subtract a couple of grades or more from whatever grades have been placed on them by the sellers.

 

If its too good to be true....the house is gonna win on that bet and you aren't the house.
Guy

 

Like others said, I would inquire about the pcgs number, the sellers rating, and location into account before the purchase.
But with buyers protection and using paypal, I would probably take the gamble. I've had to send a few things back
that were not as advertized, and other than eating the return shipping, it was a fairly pain free experience.
On the other hand, if the auction was for an unslabbed coin with a stock picture, I would not even bother.

 

I'm not taking any offense to any comments, as i an a new collector to anything outside wheat cents. The reason i took this chance is the seller also just sold a key date that was graded by pcgs. The description said picture will be added later.

I asked what grade was on the slab and he said hedidn't know, as he was selling this for a friend. As far s the $1,000+ price that is based off recent Ebay sales.

This is a coin I've always wanted but could not afford, so I'm not looking to sell it, as I'd never find a deal like this again.

I'll give this hint, it's a Lincoln wheat cent.

 

Yeah, what Guy said. If my eyes can't focus on the subject, I ain't buying. I don't play 'lotto' with coins but understand that others have scored 'big' in the past. It's just not in the cards for me though, as I invariably would pick the wrong choice. Happily, I know my limitations. It's what keeps my pants on and a roof over my head........

 

that auction should have been pulled then. all graded coins sold on ebay(4 graded coin companies excepted) have to show a picture of the slab. i just had 3 auctions pulled because i didn't have pictures of the slab. if the seller doesn't have those pictures i would not gamble on them.

 

Oh you mean "ownership increases the grade 2 grades" ? lol

Do you get it this time?

 

The coin wasn't on Ebay long enough to get flagged, maybe 20 minutes before i used the buy it now.

 

Run away when they say they don't know because they are selling it for a friend and they'll get pictures later.

 

Why do you say that? Have you actually had problems before with a seller like this?

 

I DON'T gamble on eBay BigTee...ever. I sometimes bid more than I really want to, but never on something I'm not sure about.

Bruce