Just Sold a Lot of 90% Silver dimes with Profit!

ARE WE ALL FORGETTING THAT BNB PURCHASED $3 WORTH OF SILVER FOR $30!
LET HIM KEEP THAT DOLLAR HE MADE, HE BUYS SO MUCH WORTHLESS AND OVERPRICED COINS, THAT HE IS LOSING MONEY IN THE LONG RUN!

Peace

 

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DONT WORRY ABOUT BNB

Within the past 2 months hes overpaid for 80% of his auctions. OVERPAID.
He paid $30 for $3 worth of silver. Who does that? Only ebay suckers. While we all love them let BNB have this one since hes losing so much money right now.

Not to rip you BNB I like your coins and all but you NEED to make more educated purchases, and hwile we all learn as we go along, your msitakes are becoming costly.

 

Calling his coins "worthless and overpriced" and calling him a "sucker" does seem to be ripping on him a little bit, don't you think?? I mean he won most, if not all, at auction. So he only paid one bidding increment higher than someone else that really wanted each coin...

 

Whats with these threads man? Someone is wasting everyone's time.

 

Sure but lets look at these two purchases and then tell me if these other bidders are losing money as well.

5 grams of silver nuggets worth less than $3 he paid $30!
1000 iraqi dinar note that is worth $.87 cents he paid over $3.

Other bidders are getting ripped off as well. if your paying 10x over actual melt then your not researching your purchases.

not to mention iraqi dinar notes are mainly held by syria, which at any time could dump them onto the market if relations go south, and theyre considered to be heavily counterfeited. Most vendors in jordan do not accept them. smart pruchase? Nope especially if you can get them for less than $1 each.

Otherwise he did make a profit on this auction, so hes learning but hes making some costly mistakes that he will regret later on.

 

Hadn't seen anything about those two examples, but those aren't coins anyways... and they really didn't cost much either. I know that I have bought lots of relatively worthless/stupid stuff for under $50 just because I really wanted it. Apparently lots of people do the same thing.

 

I think you are doing the right thing. IMHO, it is wrong to overcharge for shipping and you are making it right. Well done. :thumb:

 

Lets go one then with some coins

3 silver dimes for $5.44. melt value is $1.31 each so thats $3.93.
Overpaid $1.51 on 3 dimes.

9 silver dimes for $12.50. Melt value is $11.79
Thats $.70 overpaid.

1 gram of palladium for $39. Melt value is $13.63
Thats $25.37 overpaid.

1 oz silver bar for $28. Melt value is $18.10
Thats $9.90 overpaid

1 oz silver round for $22.58. Melt value is $18.10
thats $4.48 overpaid.

1/2 oz platinum eagle for $1000. Melt value is $778.50.
Thats $222.50 overpaid.

Lincoln presidency 1oz silver coin for $21.Melt value is $18.10
Thats $2.90 overpaid

1936 Silver nazi coin 90% for $30.01. Melt value is $8.14
Thats $21.87 overpaid.

1939 D quarter for $3.31. Melt value is $3.28
Thats $.03 overpaid.

9 silver dimes for $16.79. Melt value is $11.79
Thats $5.00 overpaid.

1992 S dime for $3.24. Melt value is $1.31
Thats $1.93 overpaid.

If your looking to make a profit its all about margins and with these margin sizes well your defintely not break even.

If you want to spend money on unrecomended coins for less than $50. well be my guest but remember that money adds up and it could have bought you a nice slabbed coin instead or even a house or car or hwoever you want to spend disposable income.

 

Who cares how someone spends their money if it makes them happy.

 

Give it up. This kid asks for advice after the deed has been done or when constructive/useful advice has been given...he refuses to accept it. He has been in the numismatics game for less than a year and at this rate he will soon move on to another money making/get rich quick venture...er, I mean hobby.

 

Yep, if you're referring to me, yep.. The kid refuses to take advice..

Maybe not all advice given is right?

Maybe I've tried some advice and I found my ways better in some cases?

Everyone's advice usually always comes back to what benefits them in the end.. If I charge $3.99 for shipping, I know I will have $3.99 after the auction ends. Guaranteed. That's all I need to know. Free shipping is the worst idea on the planet in my opinion. It's bound to hurt your bottom line eventually in my opinion.

 

Keep charging $3.99 for shipping, pay $0.61, and your feedback will be so bad, you'll be opening new ebay accts every month.

 

My comments were not directed at your shipping snafu...that was probably an honest lack of oversight. The previous statement is the opinion I formed after observing your posting, purchasing, and selling behavior here, across the street (PCGS/CU), and several other non numismatic forums.

 

Errr . . . no, not really. First off, it's against eBay policies to charge a shipping fee that bears no relation to your shipping. Secondly, you can guarantee yourself 3.99 by simply starting off the auction at that number. Thirdly, as I wrote before, the same guy who bids $1 with 3.99 shipping, will also bid $3.99 with $1 shipping. People know how to compute "total cost" when they bid.

Nope. It might, but it might not. It depends. First off, free shipping can often get you a higher listing. Secondly, it gets you noticed more. Thirdly, if you plan to sell a lot, then getting "good ratings" will help in the long run. Among other things, good ratings can result in a 20% reduction in ebay commisions. That's where I'm at, thanks to good customer service, and good will among my customers. That helps, not hurts, your bottom line. And if you didn't know that, then your statement of "that's all I need to know" is not quite accurate.

There's an old proverb: "Who is wise? He who learns from every man."

Look, one more bit of free advice -- and this doesn't apply to just CT, but life in general:

Feel free to ignore any advice you get. But there's no reason to burn your bridges and criticize those very people who are giving you free advice.

 

I for one take into account shipping costs into my total purchase. If I think a coin is worth say $10 I will pay $10 with free shipping or $6 with $4 shipping. It really doesn't make any difference to me.

 

Shalom, how's everything going with you?

There's no rule violation for charging $3.99 shipping & handling okay? Give me a break. Let's be real honest here. If a seller wants to charge $10 shipping(UPS Ground) and handling, he can for 14 90% silver dimes(Although it's a stupid idea). I know that people factor shipping in with the final cost. Why are you suggesting like I don't know that?

The only mistake I made in the last auction was I put Priority instead of Parcel post. I changed that so that won't happen again. Case closed.

bnb

 

Pretty well, thanks!

I never said there was a violation. What I said was that eBay has a policy against using shipping and handling costs as a way to evade eBay commissions. I didn't say that that's what you did, I simply urged you to be careful. What I, and others have also said is that you won't get high ratings if you charge 3.99 and the buyer sees it cost 0.61 to ship.

But if he wanted to charge $10 shipping for first class postage that ends up costing 0.61, that might indeed be an eBay violation. (Indeed, we've seen some guys charge over $100 for S&H !! An obvious attempt to evade eBay commissions. Those guys get kicked off of eBay.).

Indeed. It was a mistake and I admire you for taking quick action to contact the buyers. That was a smart move. Most buyers are pretty forgiving if you explain mistakes to them. Well done.

I simply thought your statement that free shipping was a stupid idea was over the top, and thought you might be interested in how it might not be such a bad idea in some situations. I also objected to your criticism of the motives of those who are giving you free advice. It was those two concerns that prompted me to jump back into this thread.

I'm fine to have "case closed" on this . . .

 

I suppose that's true...but in the long run it won't work out in your favor. First, people are well aware of shipping costs on eBay. Anyone who buys on eBay looks at the shipping cost and factors it into what they are willing to pay (to many it's a major factor). If the shipping is too high I often won't even consider bidding.

Here is an example:
One of my other hobbies is sports card collecting on a very limited basis. I recently won 2 auctions from the same seller. He charges $2.00 shipping for the first purchase and $0.50 for each subsequent item. So, I knew before I bid on these 2 cards I would owe $2.50 shipping. Both items were starting out at $0.01. I really wanted on of them so I bid $1.00 (far more than it is worth)...and the other I just liked a little (but because of the cheap additional shipping I put in a low bid) and bid $0.10. In the end, I was the only bidder and both sold for $0.01 and I owed $2.52. Had the shipping been any higher I wouldn't have even considered bidding. I actually overpaid for what I bought because of the shipping. I expect the cards to come in a bubble mailer (approx $1), with approx $1 postage, all cards should also each be in a hard case which are several cents each...so the shipping costs should be about correct (give or take a few cents).

Secondly, it will earn you negative feedback in a hurry. Buyers look at how much the postage on the package cost. Factor that plus a little extra for the envelope and it is very easy to figure out how much the seller actually paid for shipping. I have left both neutral and in a couple cases negative feedback because I felt I was overcharged for shipping. Negatives will chase buyers away quickly...so it's not worth the risk.

IMHO, it's best to not use shipping charges as a way to make a profit. It's not worth the headache in the long run.

 

How much of the tons free advice, nay, directions, that you've asked for have you actually been able to use? You haven't been at the hobby long enough to even use 1/10th of the advice/direction/instruction/hand-holding you've asked for, on the forums I've seen you on. You ask if you should clean 'junk silver' after you clean it to make it all nice and 'shiny' (or, 'prettier', as you referred to what NCS did to your now infamous 3-legger), and state in your auction descriptions, and I quote:

"remember, when you buy BNB, you buy quality first!"

Cleaned, 'shiny' junk silver isn't 'quality'.

For someone that won't follow other peoples advice, that you, yourself ask for, you certainly ask for a TON of it. If you think you know how to do things yourself, or your way is better, then stop asking for advice. Yet, thats all you seem to do. Why bother asking if your way is better??? As has been said before, very succinctly:

 

The handling saved you. It is often the point of profit on TV adds. Lifetime guarantee on inexpensive items usually means the item costs less than the handling fee.

Of course I would hate to have the feedback they would get on Ebay.

You have every right to get as much negative feedback as you can stomach though. It's your right to overcharge and theirs to respond negatively.