Being new to this, ebay, and learning lessons, one at a time.

Discussion in 'Coin Chat' started by CoinJockey73, Mar 1, 2021.

  1. CoinJockey73

    CoinJockey73 Here comes trouble... Dealer

    I'm new to all this REAL coin collecting. I'd never even heard of a Morgan dollar till about 3 months ago. I thought all these cool silver quarters and dimes, Buffalo nickels i was finding, were a coin collection. So, I'm new here. I like the Barber stuff though, never knew there were different coin artists. Can't find any Barbers in the wild, so i bid on them on ebay. I'm noticing a trend. I'm pretty new to ebay as well, mind you. I'm winning all day, yay! then in the last 30 seconds I'm outbid, and lose every auction i bid on.
    I bid on multiple lots, not expecting to win any. I win 2. Now i owe over 160 bucks on 25 barber quarters. In my excitement to grab a few barbers, i could have spent the exact same money on 2 amazing specimens, and marveled in their opulence. Oh well, next time. Lesson learned.
    MIGuy, Kentucky, capthank and 6 others like this.
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  3. SensibleSal66

    SensibleSal66 Casual Collector / error expert "in Training "

  4. spirityoda

    spirityoda Coin Junky Supporter

    It is easy to get caught up in the moment of an auction. Make sure you pay your rent, bills, and food first. Know how much you want to spend and try to stick to it.
    MIGuy, capthank, GH#75 and 3 others like this.
  5. CoinJockey73

    CoinJockey73 Here comes trouble... Dealer

    Sound advise. I'm counting my blessings it's only about 155 bucks total for everything, tax, shipping, etc. It's always that 20/20 hindsight that bites me in the rear. I'm seeing the trend of finding, or acquiring cheaper pieces of silver, selling those, then buying a prime piece. I may start looking into that. I'm so new to all this, I'm learning as i go. In the meantime, I'm having a blast learning, and just seeing all the coin wonders out there.
    Last edited: Mar 1, 2021
    capthank, spirityoda and Inspector43 like this.
  6. mike estes

    mike estes Well-Known Member

    hey CoinJockey73 if your getting beat like you say, 30 seconds before the end of the auction then someone, the winner(s) are using snipe programs. here's the names of a few free programs. maybe they will help you....
    on spending that amount of money ($160) on 25 coins, well you closed out your post with these 2 words " Lesson learned." that's where i will leave it. good luck in finding your next Barber(s) brother
  7. baseball21

    baseball21 Well-Known Member

    Unless you're low balling the bids hoping to get lucky, be careful with bidding on a ton of lots just hoping to win a couple. There could come a day where you end up winning everyone and end up with a hefty bill. Lots like that come up all the time. If it’s something you really really want focus on that or the few that you want and put your resources into that and let the others pass for another time
    mike estes and CoinJockey73 like this.
  8. Tusky Ranger

    Tusky Ranger Active Member

    I just don't do auctions - never have, never will. It's a lot more fun to seek out a coin you want, and buy when you are ready. Of course...someone else may have the same idea, so it pays to have some idea what u want and what you would like to pay for it ahead of time. I'm kinda new myself - doesn't take too long to learn once u take a few hits in the wallet :(
    CoinJockey73 likes this.
  9. Mr.Q

    Mr.Q Well-Known Member

    All the bidder is doing to win is wait until the very last 2 seconds and hit the send button, try it next time you want to bid on a certain item. Good luck
    CoinJockey73 likes this.
  10. Southernman189

    Southernman189 Well-Known Member

    Just don't take the description too literally on Ebay. If it sounds too good to be true (for the price) it most likely IS and one to stay away from.
    SilverMike and CoinJockey73 like this.
  11. Mountain Man

    Mountain Man Supporter! Supporter

    Your internet connection speed is important when bidding in auctions. I refuse to use a sniping app and just wait until the last 10 seconds. Win some, lose some. Such is life. Good luck.
    MIGuy, Kentucky and CoinJockey73 like this.
  12. baseball21

    baseball21 Well-Known Member

    Mostly just in the sense of how much time you need to leave to make sure it goes through.
    CoinJockey73 likes this.
  13. Mac McDonald

    Mac McDonald Active Member

    Congrats on 25 Barber qtrs (in any condition) for under $160...just one in XF or AU could easily cost you more. That said, you don't necessarily have to use a sniping can do it yourself, and I speak from experience...I got pretty good at it and it saved me considerable $$$ while getting some great deals overall, most of the time. I'd say I won 90-95 percent of my snipe bids...but I lost on a couple here/there and it takes a while to learn the how, when what to bid, things to look for from others bidding, etc. But it's not foolproof and don't want to mislead you. I've never used a service for it...never quite understood or trusted how they worked or wanted to relinquish that much control over my bidding $. I would even set my alarm once or twice to get up in the early AM to bid, if it was something I really wanted. Bad part is, if you're gone much of the time when your auctions end, or a seller often ends theirs in those wee hours, it can be problematic and a service may help. Good luck.
    MIGuy and CoinJockey73 like this.
  14. Paul Chouan

    Paul Chouan Supporter! Supporter

    On the other hand, with 25 Barbers you can teach yourself a lot about grading, spotting non-obvious flaws, etc.; and that knowledge will ultimately prove far more valuable than what you paid for the coins less what you realize when you sell them.
    Tusky Ranger and CoinJockey73 like this.
  15. CoinJockey73

    CoinJockey73 Here comes trouble... Dealer

    Well said.
  16. CoinJockey73

    CoinJockey73 Here comes trouble... Dealer

    Thank you for this. I was having a little buyers remorse. it bothered me that the tax and shipping packed on over 15 bucks more. Tax? TAX? Anyway, i found peace with it, with your help. Thanks again.
  17. Howard Ryan

    Howard Ryan New Member

    Write in the bid you feel the highest amount you'll pay for. And then wait to 2 seconds and bid. If I really want something I'll bid fairly over my proce range and then get the product for thr price that the 2nd highest bidder put in.
    CoinJockey73 likes this.
  18. Seascape

    Seascape U.S. & World Collector

    I can get caught up as well. But here is the thing...everytime you buy a 10.00 circulated coin or whatever..thats 10 less you have to bid on the higher end examples of our hobby. Makes for a diluted collection you don't appreciate as much.
  19. SilverMike

    SilverMike Well-Known Member

    When I was new I wish I had spent more time looking at coins to figure out what I liked and less buying. It took me a while to figure out that I liked a circulated look to my Morgans (like my profile picture) rather than the blast white ones. As a result my collection looks really mismatched and over time I’ve slowly been replacing the ones that don’t look quite right.
    Live and learn.
  20. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    What happens if you're bidding on 20, 30, 40 or 50 items that are all ending within minutes of one another?

    2 seconds? If a snipe bid is entered with 3 seconds or less, you lose! I hope it isn't something you really needed.

    I used a sniping service for many, many years before I retired and stopped buying altogether. I was bidding on as many as 50 items at a time, and I won about 85% of them.
    CoinJockey73 likes this.
  21. CoinJockey73

    CoinJockey73 Here comes trouble... Dealer

    Not cool! This was actually 2 bids that i won. I never thought I'd win a lot of 20 quarters, so i flippantly bid on that one, and the other was for a lot of 5 quarters. Different sellers, won both, lol. Paid both sellers when i woke up, and was notified that payment was received, and my items would ship that day. 5 coin guy, got the tracking number, coins will be here Thursday. 20 coin guy, i got notification that "pre-shipment info was sent". 20 coin guy simply printed my label, but hasn't dropped my stuff off at the post office yet. The notification i got Monday bamboozled me. I thought my stuff was on the way.
    Dirty pool. Another lesson learned.
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