Auction on Ebay

Discussion in 'Coin Chat' started by icollectoldmoney, Nov 14, 2017 at 11:29 AM.

  1. icollectoldmoney

    icollectoldmoney Penny Collector

    I seen a auction on eBay for 20 NGC Graded Penny’s.16 are from 2009 3 from 2010 and 1 from 2014.The bidding price is $20 with $7 dollars shipping are they worth it or waste money.
    Thanks,
    icollectoldmoney
     
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  3. TheFinn

    TheFinn Well-Known Member

    If you want them and collect them it's not a waste of money. Whoever sent them in for grading lost a lot of money. What grades are they?
     
    Coinlover67 likes this.
  4. icollectoldmoney

    icollectoldmoney Penny Collector

    Most of of them are brilliant uncirculated. A few of them are ms 66 or better. the price would be like $1.37 per coin.Do you think be worth buying and keeping a few and selling others.
    Thanks,
    icollectoldmoney
     
  5. Coinlover67

    Coinlover67 Well-Known Member

    Do you have a link to the auction, seems almost too cheap. While they are modern Lincoln pennies, the higher grades do have a slight premium. No matter what though, the guy definitely lost money on grading them. Feel free to PM if you don't feel comfortable sharing the link.
     
    Youngcoin likes this.
  6. icollectoldmoney

    icollectoldmoney Penny Collector

    I private messaged you.
    Thanks,
    icollectoldmoney
     
  7. icollectoldmoney

    icollectoldmoney Penny Collector

    I am really thinking about this but don’t want to waste money on them does anybody think I could make some money on them.
    Thanks,
    icollectoldmoney
     
  8. jfscmedic

    jfscmedic Well-Known Member

    I just recently purchased 9 PCGS PF69 Deep Cameo Dimes from the 70's, 80's and 90's all different dates for $35 with Free Shipping from a dealer I buy from on E-bay. That's $3.89 a coin. Hate to see what someone paid to have them graded.
     
  9. icollectoldmoney

    icollectoldmoney Penny Collector

    Yeah that is true but me being so young and a new farther.Was going add some of them to my collection.Sell the others to make money for more purchases is that a good idea or no.
    Thanks,
    icollectoldmoney
     
  10. jfscmedic

    jfscmedic Well-Known Member

    Hard to tell. I sell at a local flea market and I always find people looking for "Cheap"
    coins to give to the Kids. That's why I bought the ones I did.
     
  11. icollectoldmoney

    icollectoldmoney Penny Collector

    Well I am doing this to give my son when he gets older. I usually find good deals on eBay currently trying to find some 2017-P Penny’s reasonable priced haha.
    Thanks,
    icollectoldmoney
     
    Youngcoin likes this.
  12. jfscmedic

    jfscmedic Well-Known Member

    Check with your local banks. Maybe you might find some there
     
  13. CamaroDMD

    CamaroDMD Supporter! Supporter

    I doubt it would be a "waste" of money but I don't think they will really increase in value though. I don't see this as an oppertunity to make money off of them if that's what you are thinking.

    The fact that some of them are graded "brilliant uncirculated" means that someone submitted a bulk lot to NGC with a minimum grade requirement and those coins didn't make that grade. The hope in doing this is that a few coins will grade high enough to cover the expense and turn a profit and the rest can be sold as cheap lots like this to make a little more money.
     
  14. -jeffB

    -jeffB Greshams LEO Supporter

    If they're on eBay as an auction, and you're the winning bidder, that means nobody else who saw the auction thinks they're worth more than you bid. That presumably includes plenty of people who want to do just what you're proposing -- flip them for a profit.

    You can sometimes make money by buying something on eBay that's poorly described, or ending in the dead of night, or some rare variety that you know how to spot but most people don't. This doesn't look like one of those cases to me.
     
  15. icollectoldmoney

    icollectoldmoney Penny Collector

    Thanks was not trying to make a big profit just some money to buy another cheap book or coin.
    Thanks,
    icollectoldmoney
     
  16. icollectoldmoney

    icollectoldmoney Penny Collector

    I am a young farther just trying preserve some history for My son.Also just enjoying the hobby I love and enjoy.
    Thanks,
    icollectoldmoney
     
  17. -jeffB

    -jeffB Greshams LEO Supporter

    That's fine. You could buy this lot, then sell off some of the coins, keeping a few for yourself. But you might come out further ahead just buying the ones you want -- remember, selling coins takes time and attention, and also involves paying fees. That's time and money that you then can't spend on your hobby or your son! :)
     
  18. icollectoldmoney

    icollectoldmoney Penny Collector

    Yeah I will probably skip on the auction and find some coins I really want.Does anybody know where I can get some good wheat cents.
    Thanks,
    icollectoldmoney
     
  19. CamaroDMD

    CamaroDMD Supporter! Supporter

    I would recommend selectively purchasing specific coins that you like verses buying lots of low value coins like this. If you want to have something for your son...look for something that you appreciate...not just the first affordable thing that comes along. One or two nice items is far better than a box full of low quality things.

    You will likely find a lot more help here if you weren't so afraid that someone was going to steal your auctions. If someone was going to bid on them...they would have found them on their own. I highly doubt someone is going to come along and see the link here (and only here) and decide to bid. Have some faith in the community.
     
    Kentucky and Youngcoin like this.
  20. CamaroDMD

    CamaroDMD Supporter! Supporter

    What do you mean by "good" wheat cents?
     
  21. icollectoldmoney

    icollectoldmoney Penny Collector

    Well I am wanting to just collect rolls of wheat cents to pass down one day. I am interested in raw coins in rolls or single coins.
    Thanks,
    icollectoldmoney
     
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