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.
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.
And if the coin is in a slab graded by a well known TPG eBay thinks they can authenticate that coin. What a joke.
From eBay's site, specifically the link provided by @physics-fan3.14 above, "Who is authenticating the coins?" "eBay's partner team of professionally trained authenticators vet and verify each item, utilizing detailed, physical inspection and advanced technical equipment in a state-of-the-art facility. For raw coins, experts verify authenticity through a multi-point inspection, and then carefully review listing details for accuracy. For graded coins, experts authenticate each holder and label. No re-grading is performed unless otherwise stated by eBay." The above Question and Answer from eBay do not enthuse me one bit. Why? Because their experts already have a long history of determining that our reports of counterfeits being offered on eBay are without merit. They have a nasty habit of protecting their revenue before protecting our interests.
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.
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.
I'm waiting for the first report of someone shipping a nice genuine raw coin, then getting a message from eBay saying "coin determined to be counterfeit, we destroyed it, lol".
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.
