E-bay a great place to buy GOLD coins ?

Discussion in 'Bullion Investing' started by mpcusa, Aug 18, 2022.

  1. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I would say not on your life !! especially if your looking for older coins, was checking out
    some $10 liberties, first I would think they would have more selection, but really not the
    case, I spotted a 1847 in A/U - 55 the guy had it listed for $2,100, is that a good deal ?

    I looked up the coin and the red book price is $1,250 it does have the highest mintage by far at 833,000 and no other liberty even touches that figure, he offered it to me at $1,900 then $1,800, so a $550 dollar premium on a very common coin. no thank you !

    Looked up allot of coins on ebay and the pattern hold very high premiums, will stick
    with Liberty coin gallery and APMEX, they are spot on with Red book prices.
     
    GoldFinger1969 likes this.
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  3. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    You need to go by sales at HA and GC for the best comparisons.
     
    tibor and ldhair like this.
  4. rte

    rte Well-Known Member

    And then your venturing into numismatics territory and away from bullion.
    That in itself has some premium added, more on the earlier gold I'd imagine.

    Buy what you like though.
     
    Last edited: Aug 18, 2022
  5. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    He quoted numismatic prices so I assume he wanted that.

    I have bought bullion gold from Ebay and the prices were OK. They will sell you bullion cheap in hopes of selling you other stuff marked up (like Blanchard decades ago).
     
  6. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    But buy it now versus auction listings, your looking for a fair price not sure if that
    is reasonable, since you have a higher premium along with auction fees, the closer
    you get to red book the better :)
     
  7. -jeffB

    -jeffB Greshams LEO Supporter

    Or you can camp on the new Buy It Now listings watching for gold that's not overpriced, and be faster on the Buy button than anybody else who's doing the same thing. When I was doing it, gold coins typically went a little slower than silver, minutes instead of seconds -- I'm guessing a lot of people with the free time and compulsive tendencies to BIN-camp don't have the budget for gold.
     
    rte likes this.
  8. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I found most of the $20 liberties were easily 3K plus and thats on the common dates
    so for sure not the best place to buy GOLD
     
  9. ToughCOINS

    ToughCOINS Dealer Member Moderator

    COVID seems to have introduced many more to this practice, as I’ve noticed a radical drop in lasting attractively priced BUY IT NOW listings for most desirable coins, and not just for gold.
     
    -jeffB likes this.
  10. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    Red Book can't be accurate except by luck.....it's a snapshot at the time of publication....if gold moves up or down by 10-20% as it did in early-2020, how accurate is the Red Book ?
     
  11. -jeffB

    -jeffB Greshams LEO Supporter

    I'm not the least bit surprised. Pre-COVID, there was little chance of winning in the evening; with work-from-home, I'd expect quite a lot of people have an eBay window open on the side during the day. I'm not immune to the occasional distraction while I'm working (ahem), but BIN-camping takes WAY more attention than my conscience will let me spend.
     
    GoldFinger1969 likes this.
  12. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I don’t think a near $600 premium on
    a common coin works regardless, but
    you need some kind of guide to go by.

    Used the green sheet for currency for
    years for MPC, highest grade they had
    listed was 67, well I have allot of 68,s
    and a few 69,s , so it can be difficult
    evaluating prices, especially when your
    at those numbers.
     
  13. fretboard

    fretboard Defender of Old Coinage!

    Ebay is an okay place to buy gold coins if the price of gold is low and you're looking for something foreign, scarce or rare! Right now, ebay is way over priced! :shifty: Other than that, your local coin shop should be the go to spot for better prices! As far as online, I don't even know as I've only bought from Apmex and Liberty!
     
  14. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Both are much better on price, liberty
    practically gives there coins away..LOL
    always go there first, fair price and ultra
    quick shipping only draw back not a great selection. APMEX has good
    prices but there shipping is pretty slow on the numismatic stuff.
     
    fretboard likes this.
  15. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    True...but better to check the HA or GC archives over the last year or so.
    Have these moved up in the last 2 years ? I know lower-graded LDBs have.
     
  16. Collecting Nut

    Collecting Nut Borderline Hoarder

  17. Mr.MonkeySwag96

    Mr.MonkeySwag96 Well-Known Member

    From what I’ve seen, eBay is a better choice to pick up common, foreign gold coins (Mexican pesos, Swiss/French 20 francs, British sovereigns, Austrian ducats) as eBay bucks can be applied to these coins, unlike modern bullion.

    However, eBay is quite overpriced by retail standards for US type coins.

    When buying retail, I usually purchase my US type coins from dealers such as Empire Coins, Northern Nevada Coins, Brigandi Coins, Executive Coin Company etc. I think Empire Coins is the most fairly priced of the dealers I’ve mentioned. However, US gold coins tend to be sold very quickly on Empire Coin’s site, literally minutes after being listed for sale.

    I used to shop from Liberty Coins back when they had a much better selection of numismatic items. Nowadays, they’re mostly just a bullion dealer.
     
    Last edited: Aug 20, 2022
    mpcusa likes this.
  18. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Liberties selection is somewhat limited to the big guys such as APMEX, better
    there prices are usually better for similar coins.
     
  19. baseball21

    baseball21 Well-Known Member

    https://www.pcgs.com/auctionprices

    There's more than just that and eBay is a legit source for pricing. People always forget the auctions have a lot of extra fees on top of the price. But yea the Redbook is a terrible source for prices and is outdated by the time its printed. It's just good to see keys and grades with possible big value jumps, not actual pricing
     
  20. imrich

    imrich Supporter! Supporter

    Is Red book your authoritative source for pricing?

    I'd suggest you at least purchase one issue of C.D.N. Greysheet.

    Where is your image so we could at least establish an opinion about your ramblings.

    If the coin is at the high end of the grade stated, your final quoted price of $1800 may be reasonable.

    I buy Gold coins regularly/weekly from eBay, and in my purchase grades ~50% are close to proper pricing sources.

    I utilized proper resources to establish eBay average pricing for dedicated buyers, and past sales reflect your quoted desired pricing.

    If you've a reliable source for what you desire, at your price, what's your problem?

    Rich
     
    Last edited: Aug 21, 2022
    AdamL likes this.
  21. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Thats classic, my ramblings...LOL ,if you havent checked the prices on ebay as of late and actually took the time to compare prices to sites like APMEX, Liberty coin
    galleries and JM bullion...ETC you will find the prices well above the sites I mentioned, I would say most of that would be overhead and fees ebay charges
    but the results are the same, CHECK IT OUT !!
     
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