Ebay and my rookie mistakes, feeling discouraged.

Discussion in 'Coin Chat' started by Gdobie, Jun 24, 2019.

  1. Gdobie

    Gdobie New Member

    So I found this set of NGC MS68 Silver Eagle 20th Anniversary Set of 20 coins with a high bid of $465 (one of only 2005 labeled this way and in a cool nicely labeled Guardhouse wooden case). I bid at the last second only to receive a bid error :(.
    In a fit of frustration I found another set but without the cool box and paid a $70 higher price. Still feeling somewhat disappointed about not getting the cool box I found a third set, this time they were MS69 but the seller was asking $1300. Wow. So I sat tight for a couple weeks and then found the same set of MS 69s for only $850 so I jumped at it. Seemed like a great deal until the same set went for $610 two weeks later (WTF?). The only difference was the box was just an ordinary NGC plastic case. I'm thinking about returning the set for $850 and waiting for the next one but might regret it if the next set never shows up.
     
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. Gdobie

    Gdobie New Member

    Last edited: Jun 24, 2019
  4. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    @Gdobie

    I'd guess that there will be a never-ending supply of Eagles listed on eBay in a multitude of options and price ranges. Have you established the appropriate search parameters to make your job easier?

    Chris
     
  5. Inspector43

    Inspector43 70 Year Collector

    What is a Silver Eagle 20th Anniversary Set of 20 coins? Is it a set that was fabricated by a dealer or other collector?
     
  6. micbraun

    micbraun coindiccted

    It appears you’re paying strong money for certified bullion, fancy labels and wooden cases...? Are you sure that’s what you want to do?
     
    Inspector43, Gdobie, serafino and 3 others like this.
  7. TheFinn

    TheFinn Well-Known Member

    Sure future money loser.
     
  8. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    There are TV coin dealers that put these sets together. They are a fabricated market, not something issued by the US mint. My best dealer buddy has box upon box of these type sets that folks bring in not realizing that their value is barely more than spot silver value...... Go to a nearby dealer and see if you can’t put the set you want together at a fraction of the inflated TV dealers price.
     
    Gdobie likes this.
  9. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    No offense, but consider the trouble you are going to cause for the sellers, who would lose time, money, and the opportunity to sell it to a serious buyer who has their act together.

    Figure out what you want to buy and how much it's worth before you bid. Also grades on ASEs other than 70s aren't really relevant (if you ask me and probably many others here - 70s aren't really relevant either).
     
    C-B-D, Gdobie and Santinidollar like this.
  10. Santinidollar

    Santinidollar Supporter! Supporter

    My advice: Don’t start out collecting with graded bullion coins. In fact, IMHO, avoid them.

    And when you bid on coins, bid on coins, not what they come in.
     
  11. Vess1

    Vess1 CT SP VIP

    It sounds like you should be doing a lot more reading and less bidding. Many serious collectors including some on here, myself included, enjoy reading and learning about coins equally if not more so than buying/owning them.

    When you first get into this hobby I think some people have an itch to scratch and they jump in and start buying on ebay to try to gain some type of imagined street cred on the forums. And maybe to feel "whole" inside like desperation to accomplish something.
    If you're gonna be serious it takes time to narrow down what you like and what you want to collect. There's no rules on how you collect or when. I haven't bought a coin in three months but I'm overly satisfied with what I've acquired so far this year. No regrets.
     
  12. Lev99

    Lev99 New Member

    @Gdobie

    I wouldn’t beat yourself up about it too much. If it makes you feel better and the eBay listing says available to return, you can try if you want (get insurance and signature).

    If you’re stuck with them, it’s ok too in my opinion. There are probably bigger mistakes others have made, especially related to non-bullion products.

    Best thing you can do is accept mistakes as part of the learning process and try to do better next time.

    There will always be bargains, and there will always be bad deals.

    On another note, some of the folks above have mentioned about the special labeling and packaging. If you’re new to the hobby, realize there is probably some hype you might be feeding into on packaging. This packaging is very new to the hobby, and thus far it comes across as more marketing gimmicks than real value. A lot of people have gotten burned from similar, and have posted videos of their disappointment and anger to youtube. You can look there if you want to hear their stories. Some are doozies.
     
  13. Gdobie

    Gdobie New Member

    Hey Chris, thanks for the feedback. Yes, and I also figured out how to search for things that have already sold. It's a great tool for gauging good price points.
     
  14. Gdobie

    Gdobie New Member

    Yes, I believe it is a set fabricated by a dealer.
     
    Inspector43 likes this.
  15. Gdobie

    Gdobie New Member

    Are you talking about me or the set of coins, lol?
     
  16. Gdobie

    Gdobie New Member

    This is great feedback. Thank you. Yes I got hooked when I came across a collection booklet of walking liberty half dollars in the back of a closet that I had started 25 years ago. Once I completed that set I moved on to the Silver Eagles because I liked the Walking Liberty design. I really appreciate your point about slowing down as I have definitely gone a little overboard, lol.
     
    Vess1 and Randy Abercrombie like this.
  17. Gdobie

    Gdobie New Member

    Thanks for the feedback, Yes, part of what appealed to me was the idea that this is a limited addition. The thought process was that the rarity would increase the value.
     
  18. Conder101

    Conder101 Numismatist

    The problem is it is NOT any kind of a special set. Some dealer simply gathers together a bunch of the coins and then paid the grading service a fee to have a custom label placed on them. Yes, he may have only had 2005 sets made up, but there is nothing keeping him from making up more of them at any time he wants to. The coins are available in quantity, and the dealer has the right to use that label. And it wouldn't even be false advertising because these would be "1 of X number of sets", but not the same set. They could also pull a trick I've seen where you see something labeled "1 of X number of sets" but EVERY set is labeled 1 of X because every set IS 1 of that set. But since these sets are in no way any kind of an "official" set dealers can make up any kind of "limited" set they want at any time.
     
    Gdobie and Santinidollar like this.
  19. TheFinn

    TheFinn Well-Known Member

    The coins. There may not be hope for coins, but there is always hope for a coin collector.
     
    Gdobie likes this.
  20. Collecting Nut

    Collecting Nut Borderline Hoarder

    Just take the first 20 years of these, all graded the same and make a nice box or not and you can call it a 20th Anniversary Set. Another marketing gimmick in my humble opinion.
     
    Gdobie and Inspector43 like this.
  21. Collecting Nut

    Collecting Nut Borderline Hoarder

    He's referring to the set. Read my first post on this. I would return the set and get my money back. Do the math, forget the grade and the box. It's 20 years of silver in 1 ounce form. Multiply 20 times the current price of silver and that's what they're worth at minimal pricing. Look at the asking price and ask yourself if you want to pay that high of a markup.
     
    Gdobie and Inspector43 like this.
Draft saved Draft deleted

Share This Page