Coin buying / selling behavior...

Discussion in 'Coin Chat' started by gxseries, Jun 24, 2022.

  1. gxseries

    gxseries Coin Collector

    I've seen quite a fair bit of changes and this year has been quite different now that interest rates are going up. Global logistics have been a real mess not just due to covid as well as the re-route avoiding Russia.

    Few things that I noted:

    1) Some scarcer coins that I have been looking for are just popping up out of nowhere. These are coins that I have been looking for more than 5 years! Maybe some sellers think it's the right time to cash out and / or the interest rate is playing a role?

    2) I was at a coin show recently and people were just throwing money like there's no tomorrow. That also relates to the previous point that I found some coins that are uncommon today.

    3) Some sneaky buyers are abusing what they can. Had 3 claims on ebay this year alone that they did not receive the items. Global shipping can take more than a month and a couple are delusional that they should receive it within days. These are small items that are worth less than 10 dollars and not worth tracking. You bet I no longer ship to a few countries after this. Never had any claims for the last 3 - 5 years before the start of this year! Amazing

    4) Buyers think it's ok to haggle after purchases. ebay taxes, expensive shipping prices, want a better deal, etc. All of this happening this year too.

    What other behaviors have you noticed?
     
    capthank and Tall Paul like this.
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  3. charley

    charley Well-Known Member

    Yes. Absolutely. The #1 driver of the previously hard to acquire pieces coming to market.
     
    imrich likes this.
  4. kanga

    kanga 65 Year Collector Supporter

    IMO it's often because sellers are running short of day-to-day living expenses.
    But buyers are still being selective.
    Coins not in their interest area aren't selling.
    I've got a key coin listed on eBay but other than an occasional look it doesn't seem to be getting much interest.
    And I listed it at 80% of catalog (Krause).
     
    imrich likes this.
  5. charley

    charley Well-Known Member

    Of course it is possible. However, the market movers are and have been very boisterous in informing the numismatic community that it is an ideal time to take profits off the table, and the collecting/investment community has been responding accordingly. Viewing the well known numismatic auction houses/dealers/market makers, confirms this. I do not particularly place eBay in that category and would not be my first choice for pieces that have been off the market.

    As to the key coin...and of course I don't know what it is or how the status of key coin has been determined.....there are many reasons: 80% of Krause would indicate to me it is non-U.S. piece and the price asked is not in keeping with the market price/the piece may be in the wrong selling venue/it may not be a key coin in the collecting/investment community.
     
  6. medoraman

    medoraman Supporter! Supporter

    Yeah, and also which Krause? I hear from many current Krause pricing is all over the board and really have no bearing to the hobby at all anymore. Many ignore current versions and are using much older versions for pricing. Plus, I find "keys" in world coins more similar to ancient "keys" versus US "keys". Outside the US market, "keys" are not as highly sought, and more price sensitive.
     
    serafino likes this.
  7. gxseries

    gxseries Coin Collector

    Not surprisingly I find the prices of Russian coins have cooled (for the more common ones in general)

    I'm not too sure what area it is but I noticed a lot of key date coins are going out of control so I find it interesting

    Counterfeits, not surprisingly have flooded the market and it has become the buyers be aware market..
     
    imrich likes this.
  8. tommyc03

    tommyc03 Senior Member

    @gxseries Just to pick out one point. I ship globally but only if EBAY does the work through their Global Shipping program. No problems yet. Otherwise it's just the 50 states. And, with no disrespect to our men & women in uniform, I don't do APO's, FPO's and the like only because packages can be intercepted, inspected and mayyyybe stolen. I will ship to relatives in the states who can then forward it on. My choices.
     
    gxseries likes this.
  9. baseball21

    baseball21 Well-Known Member

    3 and 4 have been going on forever on eBay unfortunately. Realistically you're just asking for a not received claim if theres no tracking. I would never sell anything on eBay without tracking. I know that makes it harder for low value items, but without it you're at the complete mercy of the buyer.

    That's the way to do it. All you have to do is get it to Kentucky and you're off the hook. Once eBay has it if something happens they cover the loss.
     
    gxseries and tommyc03 like this.
  10. gxseries

    gxseries Coin Collector

    I completely understand the issues with some dishonest buyers which ruins the hobby.

    I've bought some items that are worth less than 10 dollars however paid more than 20 dollars on shipping - no issues with it. What is amazing is how some buyers cry foul of it. Needless to say, I don't need their business.
     
  11. Hiddendragon

    Hiddendragon World coin collector

    One trend I've noticed as a seller is decent world silver has really strong demand. I use sold listings on eBay to determine prices, and I'm often shocked at how much things sell for.
     
    serafino likes this.
  12. buddy16cat

    buddy16cat Well-Known Member

    I just buy now. I used to sell until one of my packages got stuck somewhere and the seller opened a case and I issued a refund. I now don't sell online but will buy if I see something. I don't know what I will do if I want to sell something. Probably go to a local shop or coin show.
     
  13. DANIEL HENRIQUEZ

    DANIEL HENRIQUEZ Active Member

    OK. I have been collecting for over 45 years and seen the beginning of Ebay and other sites including coin shows. I can tell you that in the past few years, many changes to Selling and Buying have emerged and the biggest changes are with the Sellers. Here is what I have experienced:

    1. Sellers believe they know everything and are pricing coins above they respective values by NGC, PCGS or Greysheets. As such, they are arrogant and very direct to the extent that if you question them, they refuse to sell to you or BLOCK you on Ebay. Yes, you have the right to sell to whomever you want yet, BLOCKING everyone will soon become a liability as the pool of Buyers with money dwindle.

    2. Buyers have recently become very easy with the additional cash they have and pay the value of a coin or more just to get it. OK, I collect coins because I love them but, also for investment so, having NO equity in the coin is NOT a good investment. You should always seek no less than 20% equity in a coin because it will not increase in value as fast as you may think or at all.

    3. The above 2 also funnel into no. 3 meaning, they are residuals of the same beast and behavior of them. As for the Sellers, the arrogance and believe they know it all including the attitude that they don't need you, is wrong and will eventually decrease their pool of Buyers real fast. As for the Buyers, not knowing or caring about what you are buying or the price is not helping you in the least.

    Then, here is the biggest of the two. Some are buying and reselling on Ebay and trying to get higher prices yet, this is where their arrogance and ignorance is killing them. The real coin collectors are questioning their prices and then, upset the idiots and get BLOCKED. Then, the Buyers are buying at high prices and giving a false sense of high prices to the sellers and screwing up the coin market as a whole.

    Either way, both are not helping and not good practices but, hey, they better have a day job because this will not be sustainable forever. Case in point, a seller by the Ebay ID: redlockcoin BLOCKED me and I have never purchased from them or even asked a question in the past and although I questioned why, the stupid girl that responded stated, "we make 7 figures a year anyway so, we don't need you". Wrong answer as the less you have willing to buy, the less you don't sell or grow. Not a good business practice, however, Ebay selling is not a real business anyway. Good luck all.
     
    Tamaracian likes this.
  14. gxseries

    gxseries Coin Collector

    Another one that I have been noticing is how some sellers have been buying low grade coins and upsell them AND at the same time selling counterfeit coins at absurd prices. What stinks is that they have successfully sold a few counterfeits and upgrade their collection along their way.

    Unethical.
     
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