Ebay ending coin sales by 2021

Maybe you’re not paying attention, look up. I just cited Ebay, it’s in the update section regarding managed payments faq’s. I myself am not panicking, for me coins are a hobby.

 

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When I was a kid there was just one kid in the neighborhood that had a football or a baseball. When he got pissed he took his ball and went home. Game over. Are you telling me that ebay is taking their ball and going home?!

 

So what happens to sellers if they refuse to sign up for the managed payments?

Second question, 2021 is a whole year, does anybody know the anticipated implementation date of this crap?

 

If you read far enough down the eBay Community thread mentioned above, you'll see eBay is not saying they'll "end coin sales". At least, not on purpose.

Imagine being one of the folks who signed up to be early adopters on Managed Payments, only to be told afterward that (a) you're now forbidden to sell in a whole list of categories, and (b) you're not allowed to back out.

Suppose you were an idiot, and suppose you were one of the eBay executives intent on moving this project forward. But I repeat myself.

 

I don't think Ebay ever actually forced me to sign up for it. I sold coins earlier this year and I never had a listing pulled in my 10 years of selling. I have no idea what's going on.

Thousands of people are still listing coins.

 

Ebay is not going to send the revenue from coins and bullion sales to a competitor.

 

Under whatever agreement they had with PayPal, eBay was forbidden to move more than 10% of its sellers to the new platform until this coming July. As I understand it, that's why the rollout was limited so far.

I expect there's a fair amount of panic in the eBay boardrooms right now about this. Good.

 

This won’t necessarily happen. I think the source is dubious. eBay would be cutting off their nose, to spite their face. Coins are a big money maker for eBay.

 

Oh, they've put themselves on course for the cliff edge. They've been quite adamant that they're going to move everybody to Adyen, and Adyen has been quite adamant that they won't deal with categories that have a reputation for disputes, chargebacks, fraud, and reputational damage -- specifically including coins/bullion, vehicles, gift cards, and adult items.

I think it's most likely that sellers who mostly deal in coins will not be forced onto Adyen right away, and that eBay will reach some agreement to let these categories fall under Managed Payments eventually. But this is eBay we're talking about, so all bets are off.

 

That's just a FAQ on managed payments, nothing spelling out any plan eBay has to force all sellers into that platform. They have a long time to figure out how to salvage a large customer base. Granted, they don't seem to have the brightest bulbs on the tree making a lot of decisions there, but I would wait for something coming from eBay.

 

I'm not going to cite every question you bring up John, Ebay has said since 2018 that they are transitioning to a new payment processor. They've also said that they expect the majority of sellers to be transitioned by 2021. The ones that have been transitioned say it sucks. If you're interested run some searches.

 

I don't doubt the new payment processor sucks. That's the case with probably every change eBay has made since the beginning of time. I just find it hard to believe that despite the amount of incompetence there they would devise a plan to phase out a few percent of their sales, although maybe I'm giving them too much credit.

 

well, if this happens, i will no longer be spending 400-1000 a month on there for my collection and investments in coins..their loss..hopefully google will come into the market with an auction platform??

 

I’m not worried, as much as I complain about eBay I have a hard time thinking even they could be so obtuse and if so we’ll instagram and reddit will get very popular very fast

 

It's too bad that the category is "Coins and Paper Money", since, as far as I can tell, all the problem is with coins - fakes, fake slabs, over-graded. I don't think paper money has near the same problem. But I am sure this is too subtle for those idiot, eBay execs to comprehend. [Loved -jeffB's "but I repeat myself" Twain ref.]

 

I have read three pages of posts on this topic and my comments apply to all of them not just the OP. Since 1999 I have over 2000 feedback - all positive - no neutral and no negative. I am both a buyer and a former seller. In that period I have bought exactly two coins. In that period I have sold exactly ZERO coins. All that said the day that I sign up for any service with the word YEN in it will never come. Not no way but HELL NO. I can purchase anything they offer on other venues. I have spent north of twenty thousand dollars on ebay. That all STOPS the day that they demand I switch. Sounds klike an excellent opportunity to sell their stock short.

 

For a publicly traded company, the loss of 3 to 4 percent of revenue is not taken lightly. That’s enough in many cases to trigger a change at the top.

 

4 percent of 10.8 billion net revenue is a huge number.

 

This is like back in 2007-08 when they ended sales of bullet shells/casings. When I was a teenager I liked buying lots of brass of various calibers, including bandoliers. Ebay took that away. Now it's coins/money/bullion I guess. What next?

 

Won't bother me in the slightest, I don't go on eBay for really anything let alone coins