Today I became addicted to ebay. In fact, so addicted I am ashamed to admit I spent over two hours looking. I have bought a coin on ebay before, though I was young and severely disappointed in the product...scrubbed clean merc dime. Since then I vowed never to look on ebay for my coins ever again. 8 years later here I am bouncing back and forth the idea of collecitng the new AB Quarters. Then I though, "Well, if I'm going to start that series, I better have the SQ series as well." The main reason I haven't started any of the SQ series is because of price. I love my dealer, but at $3.50 for a BU quarter was a bit much. For just P and D that would be a big investment for a very common set. So, I decided to do a little price check on Ebay. One thing led to another and I began checking on Rosies, Mercs, Frankies, Prezs, Sacs, Jefersons, and any other series I was curious about. Here are my observations from a coin buyer who hasn't looked at ebay for years: Don't advertise if you don't have the pic to back it up: For instance: 1957 P FBL Franklin Half. Click on the link and behold! No picture of the reverse! Same thing with any other designation: Full Torch...Must see! No picture to show me of the reverse. And here's me, "What?! They have a 1934 D both small and large mint marks in AU or only 12 dollars? What a deal! I can upgrade!" Click and no pic of the reverse! Frankly, this was aggravating and a waste of my time. Advertising on the packaging: This turns me off as a collector for raw coins. I click on the auction and there's a picture of a 2X2 with garbage advertisements written all over, "XF+ Don't miss out on this coin! Bid today to bring me home!" Or for Prez dollars, "PF 69 will look good in your album! Bid today!" I would rather the coin tell me whether or not to buy, not the packaging it's in. Going back to the quarters: I found that prices may be fair but there's no way I can ever trust a bulk buys of any kind on ebay. Almost all of the listings have, "Handled with gloved hands, taken directly out of bank/mint rolls." Who's to say they are telling the truth? Yes, a return policy is reassuring, but who's to be picky on one coin when you buy 100? Furthermore, I have difficulty accepting "GEM BU" coins from a buyer who has 10+ of the same auction listed. I understand there are multiple quarters per roll but still....if they have that many that are not selling I am more inclinded to think something is fishy or wrong with this seller despite feedback. Conclusion of Ebay from a novice: I'm still on the fence. I'm sure if I find the right auction that has the BU SQ, with adequate pictures, with a return policy, for a reasonable price I would risk it. Until then my hesitancy from past experience and common horror stories I read on CT will prevent a near-future buy of the SQ series.
I've purchased hundreds of coins on ebay with very good luck. I've had two bad experiences and they were coins that I purchased for less than $5. I agree with you on the pics. No pics; no bids from me. Also, I only buy from someone with lots of feedback and a high feedback rate (over 99.7%). I watch the shipping rates carefully because it can double the price on a cheap coin. Also, I only buy from a seller with Paypal.
dimeguy - no reason to trust ebay when it's so very easy to just buy them from a trusted dealer. Of course there are some trusted dealers who sell on ebay as well. And Phil - though there are a lot of folks who think they did very well on ebay, quite often the reality is that they did not. That's because many times ebay buyers just don't have the experience and or the knowledge to know that. Of course the same thing happens with many who buy from dealers right out of their shops too - it's not just ebay. I guess the point I'm trying to make is that many buyers just don't know the coins well enough to realize that they didn't do well at all. It's bad enough that you have to worry about the scam artists on ebay, and the unscrupulous dealers. But even if you think you got by them - you still have to worry about yourself. And that can sometimes be the toughest foe to even recognize.
(1) Expand your dealer base on the net. There are some good dealers that have been recommended around here. Plus if you are going to do the new AB quarters why not just buy mint sets? (2) For ebay - well I look most nights, but I look a whole heck of a lot more than I buy. Take your time and know the coins you are looking at. Be careful on the bay and I do agree with Doug. The only reason I even continue to use ebay is because of some of the varieties I am looking for - and on occasion I do run into some decent coins.
I have to strongly disagree. How is it easy? Where do I go and find dealers who will do all of the things that eBay does? Of course I am biased towards eBay. Assuming that most collectors are hobbiests like the OP... and given that I only buy Lincolns and that I don't know any dealers or coin shops with-in an hour of me and I don't really care to go out and spend all the time it would take to build a trust EBay Pro's Best Prices, hands down. Sometimes you have to be patient on better coins/grades. Generally with in a week I can always find every Lincoln I have ever looked for, so it has the Largest Inventory Selection of Lincolns anywhere, with a huge number and variety of sellers who provide, written descriptions with photos, who will send additional photos information when requested, that get, large amounts of current buyer reviews in, 5 categories related to customer service. Furthermore, generally, sellers respond to questions very quickly in writing. They offer Buy it Now options along with "make and offer" and Auctions for the same coins. You can get Certified coins from all the Top Tier and lesser Grading companies or browse a large selection of Raw coins. Coin Listings have Clear Shipping Terms with options along with, Clear Payment Terms and Instantaneous Payment options with, very Fast shipping with in a couple of days - 1 week at the most. There are No buyer premiums or other hidden costs, there is No fast talking or cold shoulders or personalities clouding the transaction. Most importantly all purchases are covered by very stringent Instant Buyer protection that includes full refund for every imaginable scenario. I went to one coin show back last winter, I doubt I will ever go again. The $200 I spent on Lincolns to fill some holes I have replaced with upgrades for half the price since then. Couple that with the fact that I probably don't look like a "coin guy" it was really hard to get anyones attention and when I did. I was made to feel like I was bothering them. That I am noobie. That I was wasting their time. Furthermore: I am building a PCGS registry set all purchased from eBay. Currently: Total cost of $6,554.32 and total price of $12,146.00 for filtered coin list. Think any dealer can sell me a PCGS coins for 50% below the value? In summary - while it can be disappointing to deal with "not as described" eBay sale. it's not a big deal, not to me. I buy knowing how hard it is to photo and how long it takes to list a coin. If it isn't what I wanted and it is worth my time, I just contact the seller and return it. No big deal. If Something doesn't feel right, I file a case right away and apologize later. Every reputable eBay seller understands nervous buyers who have gotten ripped off previously and don't have a problem when they get prematurely filed on. To the Original Poster. The items that you have written about from listings you have reviewed are simply sellers that you should not buy from. Not at least until you get the hang of buying on eBay. In closing: a lot of the posters on here are buying expensive, high grade coins. eBay is not a place you want to buy expensive raw coins from someone you do not know, especially considering that it has been said that all coins over 100 yrs old has probably been cleaned in some shape or manner at sometime during its life.. Then again, I have gotten some really great coins by gambling on crappy photos and poor listings. You get a feel for it after awhile. Peace!
You obviously have never dealt with a trusted dealer. A trusted dealer does all the leg work for you. You tell him the coins you want in the grade and price range you want and he goes out and finds them. Then he contacts you, tells you he has the coins and you buy them. And anytime you are unhappy with any of them - he refunds your money no questions asked. Now you tell me how ebay is better than that ?
It very easy to say find a trusted dealer, but my personal experience has taught me finding a trusted dealer depends somewhat on luck but more important upon your own knowledge or personal experiences with a dealer. Networking with a local coin club and this forum will increased your network of trusted dealers. Building relationships with a dealer will increase your personal experiences with that dealer and you can determine if the individual dealer can be trusted. Finding a trusted dealer or dealers can be difficult in your local area. I have had good and bad experiences with dealers. The bad experiences, usually can be contribute to my lack of knowledge and experience. As my knowledge and experience has increased those bad experiences are becoming fewer and I have found several trusted dealers. Buying on Ebay also requires you to have knowledge and experience on what you are purchasing. On Ebay, review the feedback of the seller, learn to grade coins from photos, consider shipping cost when bidding, etc.. You will have had good and bad experiences with Ebay. Again the bad experiences, usually can be contribute to lack of knowledge and experience and as your knowledge and experience increases those bad experiences will become fewer. It is my opinion, knowledge and experience is the key in purchasing coins wherever on Ebay or from a dealer.
Have you noticed that about 2/3 of eBay listings claim the coins are from an estate sale? There must be an awful lot of estate sales going on.
Oddly enough Luke it is quite common to be able to buy the same coin from a dealer cheaper than you will get it for on ebay. You just have to know the right dealers. Sure there are deals that can be found on ebay sometimes. But no where as often as a lot of people think. ebay is not the same place it was 10 years ago, even 5 years ago for that matter.
I agree to a certain extent. It seems like most of the slabbed coins I can go to an online dealer and find cheaper some where. Now - some of the true auctions you can get cheaper than at a dealer. It becomes a question of quality - sometimes the ebay coin is nicer and sometimes the dealer coin is nicer. Now when it comes to specialty coin dealers - usually they are higher than ebay. One dealer I always wait for him to put up some auctions. At the same time a lot of these coins on ebay are raw problem coins and you can get these cheaper from a dealer than ebay. I think a lot of this depends on what you are looking for. Me - I would rather buy from a dealer, so I know what I am getting. Even with some of the heritage and teletrade auctions you need to really watch the coin - some of them are not the best also.
You are correct, I never have dealt with a dealer, I don't know any and I don't really have the interest to go and find one, because I guess, I don't feel like spending the time it will take to meet and build that relationship only to end up impatient? Shopping or searching for the coins is also a lot of the fun. Impulse buys have produced some of the best coins. How can a dealer do that? I also think that if I show a dealer the 200+ PCGS Slabs that I have bought over the last year. Well, I really doubt they will want to go out and find the coins I want at the rate I am buying them from eBay Here! Open invite to every dealer reading this. I am buying PCGS LWC at 50% of value posted on their website. Message me! I am on a mission to fill in all the LWC blanks I can. I am working '35 and earlier now. I don't care about grade so much right now. I'll upgrade them later, maybe. I am buying the slab! lol .
Eye - it's pretty difficult to say that something is better than another when you have never even tried the other before. You really should try it, it would open your eyes.
I eats me spinach! If anyone can send me referrals to dealers that would willing to sell PCGS slabs at 50% of PCGS posted values please let me know. I'll start making my need list.
That is a rediculous qualifier. Why ? Because the PCGS price list is all over the map. Yeah most of the time the prices they list are way to high. But every now and then you'll find one that is reasonably close. And maybe some more that are only 25% too high. So to make such a qualifier as you did - it's rediculous because you can't do it on ebay either. The point is this, there are goof dealers out there. Several of them are members of this forum. And most of the time you can buy coins from them cheaper than you can get the same coins on ebay. I know this for a fact because I did it for years. Many others here will tell you exact same thing - some have already. You would be wise to listen. But hey - it's your money.
