People overpay for coins on ebay

I think you guys are all missing one major thing. The majority of the folks on this forum are diehards, which I describe as people who make an effort to learn more, join forums, join clubs, read books etc. The majority of people on Ebay that are buying coins are likely not that dedicated- they may be just casual collectors, they may be clueless, but odds are they just simply don't know any better! They probably don't know that there are coin dealers with websites out there. They probably don't know that this forum or any other forum exists. It could very well be their only source for coins, and as such, they simply don't KNOW they could get it cheaper, or a better example, elsewhere.

I've only personally won two coins on Ebay. One was from a fellow forum member last year, that I would have bought if I knew then what I know now, the other was a 1929 cent. At the time I bought it, I was unfamiliar with most of the dealers that I now know about, and had I been familiar, I would not have purchased the coin on Ebay, but checked the dealers first. I could have gotten a similar example cheaper from Arizona Jack, had I known he existed at the time.

For me, the closest shop I've been to is 3 hours away, but most of the time I will save money and visit one of the two shops I go to, one three hours and one almost 6 hours away. (both of them also happen to be in favorite vacation destinations, so it's not just that long a drive for the coin shops, in fact, I found both coin shops by being in those locations for vacations...I digress) But, most of the time when I buy new coins, which is not often, I will first check the Buy/Sell/Trade sections of the two forums I am on, then I will go to the various dealers website I have come across online, either via the boards or from magazine ads. I have not yet been to a coin show, although one week from tomorrow that will change.

I think the biggest reason I've been able to avoid the lure of Ebay is that I joined the other coin forum I post on (which led me here) within a very short time after I started collecting. Occasionally I will look through what is on Ebay, but not often, mainly due to lack of funds. When I bid on something, I usually end up loosing, I have gone after a very small number of things and lost. Most of the time when I am searching ebay it is for modern world coins, I'll find a design I like, and try to find a copy of it for my collection. Not as easy as it would sound.

 

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