I can go check new BIN listings in Coins and Paper Money, and I'll routinely see currently-circulating Lincoln cents listed for hundreds of dollars. Sometimes they've got road rash described as "RARE MINT ERROR"; sometimes not even that, just a common coin at an inflated-by-orders-of-magnitude price. Doesn't mean there's no good stuff being listed -- just that there's more noise you have to sort through. I really, really miss the old days of eBay, when every listing cost (a little bit of) money, and the up-front costs were balanced by lower FV fees. But, of course, that doesn't produce The World's Best Marketplace with Millions Of New Items Every Day! Maybe they'll start a promotion where they pay us to list things...
- I agree & its not just currency from US. There's a lot of crazy listings for World & Canadian banknotes too. I heard a lot of grumblings from coin collectors about eBay becoming so ridiculous 3 years ago that it was to be avoided as a source for coins. I suppose this "pie-in-the-sky" pricing nonsense has spread over to currency too. There are still a few good regular sellers (who I have saved) who continue to list notes either with fairly priced BIN prices or (better yet) True Auction style Listings. But they seem to becoming the exception rather than the norm.
Well, if every seller starts asking super high BIN prices then the platform is no longer a true market. If collectors start to tune out, then it's not very good for the hobby.
Asking for super-high prices is not a problem (except for the sellers that can't get buyers). And the solution for buyers is to check eBay's Sold items. That's where a reasonable measure of market value is.
LoL asking and getting are two ends of the spectrum. As Rick on Pawn Stars always sez...and on this point he is 100% correct....however....we need to remember what P.T. Barmum said about suckers! I have often asked myself the wisdom,cost, and percentages of a listing asking for moon money do actually sell. The wisdom of causing a sale that will either end up returned or into a situation that is such a hassle that the reward isn't worth all the trouble. Now I did meet a person and this had me shaking my head...that he actually just wanted to showcase his coins not really sell them. So he list his collection just to be seen and not sold. However these days the fee's would be higher than Setting up a web site to do the same.
"Asking for super-high prices is not a problem (except for the sellers that can't get buyers). And the solution for buyers is to check eBay's Sold items. That's where a reasonable measure of market value is." In my case, this is not an option. I collect mostly early small size star notes, and many of the FRN stars from 1928 to 1934D have populations of less than ten, some less than five, and others fewer than that. The key is to educate yourself on the rarity of each note. I paid well over $1000 (closer to $1500) for this note. It sat on eBay for over two years. I know a well respected, longtime collector, that has a F/VF in his collection, and PMG lists an EF40. Both that long time collector (he has collected for 45 years), and me, cannot come up with more that three known of the note above. Never mind eBay, Heritage has never sold one, going all the way back to 1990 !!
I think people are smarter then that, there are so many choices of the same item that people have a choice, but the hard to find or unique items you either pay up or just pass it by remember you have a choice !
