Ebay ending coin sales by 2021

Discussion in 'US Coins Forum' started by Casman, May 23, 2020.

  1. baseball21

    baseball21 Well-Known Member

    True, but many said public companies would also have much higher profits/stocks/numbers when not only do their sellers take all of the financial burden for sales but they also pay the company to do so.

    In this case this would be a new level of just wow even for them.
    Lehigh96 likes this.
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  3. fretboard

    fretboard Defender of Old Coinage!

    Yes, I'm thinking you're right! We'll see, I haven't sold on ebay for quite awhile, which means I better step up or I'll end up having more coins than I ever wanted especially since I bought many to re-sell! :D
    GoldFinger1969 and -jeffB like this.
  4. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Am I the only one who is confused?

    How do you accumulate over 2000 feedbacks for only 2 purchases and no sales?
    RonSanderson likes this.
  5. chucktee

    chucktee Member

    Easy. It means that he's bought or sold more than 2000 things using eBay, but only two coins.

    I could say a similar thing, although boasting a much lower feedback total, which means that eBay's policy on coin sales doesn't affect my habits much. Interesting discussion, though.
  6. baseball21

    baseball21 Well-Known Member

    Feedback is worthless for a buyer there's no option for a negative
  7. harley bissell

    harley bissell Well-Known Member

    There are many buyer feedbacks in my record. They changed that to letting sellers only do one thing to bad - crooked - obnoxious "buyers". All we can do is block them from our sales.
    GoldFinger1969 likes this.
  8. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Thanks, tunnel-vision confined my thinking to all of his eBay activity being in coins. Obviously, I couldn't have been more wrong.
  9. -jeffB

    -jeffB Greshams LEO Supporter

    That was one of my thoughts. There've been a lot of coins I've taken to shows, gotten offers on, and thought "wow, they go for a lot more than that on eBay even after fees". If I'm going to move those on eBay, maybe I'd better be doing it sooner rather than later.
  10. Lehigh96

    Lehigh96 Toning Enthusiast

    I buy coins at shows and sell them for a profit on E-Bay, so I agree with you. This is especially true for mid level (not monster) toned coins which seem to be undervalued at shows.
  11. Derek2200

    Derek2200 Well-Known Member

    eBay will be around a long time the 2021 rumor is nonsense (see discussion on Pcgs forum). Covid has shut down shows. Fees from numismatic material a big revenue stream for ebay especially now.

    I have retailed many coins and banknotes I bought at shows (from my table on the bourse)on the bay. Numismatic Material on eBay dwarfs any coin show.
    Last edited: May 25, 2020
  12. Casman

    Casman Well-Known Member

    Hope he’s right. Brett called the “Head of the coin division”...Maybe they should let those that can’t sell coins about the call
    GoldFinger1969 likes this.
  13. Conder101

    Conder101 Numismatist

    Who knows, If they go through with this it may be a blessing in disguise. Up until now no open auction site has really been able to compete effectively against eaby because they are the 800 pound gorilla in the room. Startups couldn't get much in the way of listings because everyone went to ebay because that's where the buyers were. Well it kind of sounds like King Kong is jumping off the Empire State Building. This could open up an opportunity for someone else to start an auction service on ebays model for coins and take up that 4% of $10 Billion. Especially if they actually police the site and work to keep the fakes out.
    GoldFinger1969 likes this.
  14. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Isn't this sort of what Great Collections is ?
    GeorgeM likes this.
  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    OK, I went to check some of the Wall Street analyst reports to see what they are saying. THEY are what count.

    Here's what one analyst said:

    "Otherwise, despite the anticipated step down in GMV for 2020, we believe the set of catalysts for eBay investors remain the same as pre-COVID-19 – value unlock from a potential Classifieds separation, the rollout of managed payments, as well as a normalization of US GMV growth as the company anniversaries the state sales tax headwinds. We maintain our Outperform rating on: 1) ongoing seller PLA adoption which should raise marketplace take rate at high incremental margins, 2) optionality for payments to add new stream of revenue and FCF, with potential benefit from float to be generated from funds payable, 3) potential conversion benefits from its structured data initiative."

    OK, so that analyst sees the MPS as being a new stream of revenue. The agreement with PayPal expires July 2020 (2 months), that is why Ebay is trying to get another in-house system in place.

    It's possible that Ebay's guarantees are biting revenue and profits in the coin/currency arena and they think they can eliminate fraud/make-goods by switching to the MPS. I don't know, since I'm not an Ebay seller and don't understand all the nuances.

    I can't believe that Ebay wants to lose all the sellers and revenue from legit coin sellers.
    xCoin-Hoarder'92x likes this.
  16. Conder101

    Conder101 Numismatist

    Sort of, but what about the lower value and raw coins? Does Great Collections handle those? I don't think so. And great collections is an auction house, you submit your coins to them and they handle the sale, collections, shipping, and settlement. Ebay is direct collector to collector, or collector/dealer to collector with ebay providing a venue and collecting a percentage of the sale. Kind of like a flea market. That's what ebay was in the beginning, just a flea market with ebay taking no part whatsoever in the transaction and the by word was "let the buyer beware" if there was a problem between the buyer and the seller ebay stayed out of it completely. Ebay didn't offer any buyer protection until after they bought Paypal, who DID offer buyer protection.
    GoldFinger1969 likes this.
  17. GoldFinger1969

    GoldFinger1969 Well-Known Member

  18. Casman

    Casman Well-Known Member

    Whelp, despite assurances Ebay seems to be moving forward with cutting off coin sales. Just read a post at PCGS where they “Ebay” called a seller to break the news. This plus those that have made the switch can’t list coins. Not sure how “if all sellers must switch by whatever date to managed payments, and “if coin sales are not allowed once switched”, how this suggests coin sales are allowed?
  19. Ray Jackson

    Ray Jackson Member

  20. Rick B

    Rick B Well-Known Member

    Damn if this were true I just might end my new found hobby barely before it began!
    john65999 likes this.
  21. nuMRmatist

    nuMRmatist Well-Known Member

    Gospel truth - end of discussion.

    (WTH is momnpops ? ) :rolleyes:
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