New eBay policy on Coins sold for more than $500?

Or is this some more fake news posted on FaceBook?

New eBay Coin Authentication!
Starting this week, US & World coins that sell over $500 will require authentication. After the sale and buyer payment, the seller sends the coin for eBay authentication. They will verify the coin as authentic, then forward it to the buyer via a second mailing package. I’ve sold over 9,000 Morgans on eBay. Hopefully it will bring trust back to the eBay platform.

(10) Facebook Edit: for some reason cutting and pasting the link isn't working.

 

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Ebay is going to check them? Who's going to check Ebay?

 

According to the post, supposedly eBay will have some "expert" on hand. I'm having a hard time even imagining this chaos.

 

This is apparently a real thing. It doesn't look all coins, however, I'm not sure if you have to select that as a service when you list the coin? I just looked at a bunch of coins on Ebay and some of them have the blue check mark and some of them don't. https://pages.ebay.com/authenticity-guarantee-coins-seller/#faq

 

Looks like it's going to cost more (just common sense) to use that avenue. It's two shipments (and insurance) for larger ticket items. It will be interesting, that's for sure. I did not read all of that yet but I will. Good find. It says no cost but I'll bet dealers will pay something more, one way or another. And that always has a trickle down effect to the buyer.

 

I could see eBay pulling something like this so they could make more billions of dollars but I don't think it would work in the real world. Can you imagine how long it would take for the buyer to receive their coin? It's laughable really.

 

Another eBay joke. So glad I don’t buy from them.

 

And if the coin is in a slab graded by a well known TPG eBay thinks they can authenticate that coin. What a joke.

 

Maybe Jack Young got a great job. He's gonna be really busy though. He's a great guy, I'm just poking fun at flea bay.

 

And that was the entire premise my post. It's really laughable.

 

When a miner goes prospecting, don't expect an easy ride. Keep your eyes on the road and hands on the wheel. We're going to the road house, gonna be a real good time.

 

To be honest, we at Coin Talk have been authenticators of slabs for a while now. The number of fake slabs is out of hand now. eBay just hasn't cared and not cared for quite a while. They let bots run their complaints division.

 

They do this with trading cards. I ended up buying a $500 trading card and it was sent to an ebay authenticator. Even though the trading card was real, the ebay service took close up photos of bends and creases that the original seller photos cleverly hid.

The email asked if I wanted to move forward with the purchase or decline it, since it wasn't what the auction stated, condition wise. I ended up declining and got my money back.

I assume this is how coins will be too.

 

From my experience with eBay, I do not trust their "experts." They could do a lot of things to fix their issues. This is a stupid idea, IMO.

 

Another way for ebay to make more money, most serious coin collectors will sell their $500 and above coins elsewhere, there's plenty of options, hell with ebay and their money grubbin' hands!

 

I've somewhat recently joined back onto ebay and this type of authentication really doesn't make me excited. For what I've sold so far, and will sell in the future, I leave minimal to zero doubts about authenticity. The last thing I need / want is some overworked fool trying to "determine authenticity" and interrupting what is typically a very smooth process.

Yes, I have sold a couple of trading cards that met the threshold for sending to authenticate, but I provided macro photos and video of the process of self-authenticating, which by itself is about 99% better than the lot of ebay scalpers. Personally, I do not trust the people who I have never met to determine if I am selling a fake or not, and I have read horror stories on Reddit regarding this "service" enough that it is dissuading me from selling more of my expensive items.

Regardless, I have yet to actually see this update, as I have been quite busy with work of late and have only shipped out items that were sold overnight. I'll keep my fingers crossed that it's just some weird nightmare for now, and deal with the repercussions later.

 

It will be PCGS that is doing the authentication.

https://www.ebayinc.com/stories/news/ebay-authenticity-guarantee-collectible-coins/

"Professional Coin Grading Service (PCGS), an industry leader in coin grading and authentication services, will provide expert authentication for eligible items. The new service also represents an expanded partnership with Collectors, parent company of PCGS and PSA, and the leading third-party authentication and grading provider in the collectibles industry."

 

They are starting with some sellers and eventually expanding it to more. You will not be allowed to opt in or opt out; eBay will determine which coins qualify. The plan seems to be that if the coin is over $500 and listed in certain categories, it will go through the service regardless of who the seller is once the program is fully established.