People pay waaaaay to much

One of the last coins I need for my penny collection is the 1925. I saw this one and I decided to put in a low bid. After all it looks cleaned, the photos aren't that good and I felt like the seller was questionable. And look what it went for!
http://www.ebay.com/itm/1925-Bronze...f%2FbkHIr1Wc5R6r5JK8g%3D&orig_cvip=true&rt=nc

Here are some other completed listings that are more reasonable.
http://www.ebay.com/itm/Australia-1...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

And here is a completed collection for cheaper than the cleaned coin
http://www.ebay.com/itm/Australian-...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

I don't understand why this one went for so much!

 

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Bidiots.

 

The first coin is a fake, being sold by one of many accounts from the same Chinese distributor selling various types of fakes and using shill bidders to get high prices.

 

I put a vg 1937 P Buffalo Nickel on a local facebook auction site. Starting bids are 1 dollar with 1 dollar increments. I was thinking if someone wants to give me a buck for it...great. It sold for $5.

 

Facebook has auctions? news to me do tell

 

There's another one that's better waiting for you out there somewhere, someday.

 

Well, as my Dad used to say: "a fool and his money are soon separated". And there are those who get caught up in "auction fever" (bidiots as PiMan said) and the $$$ just get higher.

 

I always forget about shill bidding. Makes me sick that ebay doesn't do more to stop it. Well it gives them more money so why would they care.

 

The big problem here is that the coin in question is a modern counterfeit

 

I figured it was a counterfeit. It's pretty obvious. But I figured if I won it for cheap I could get my money back and take the coin off the market. But I can't throw that much at a fake.

 

Don't worry about taking it off the market. There are thousands of them

 

Can we see it?

 

SORRY, I don't still have the pic. It was simply a guy who saw it, wanted it for a child, and had no idea of it's worth. Absolutely not a cherrypick coin.

 

Okay, thanks!

 

And then you see random inexplicable deals. I bought an Italian coin with a book value of more than $20 for $5 recently and no one else bid on it.

 

Exactly! I guess that's why it pays to be patient.

 

Hiddendragon said:

Done this more than once; just takes patience as rooman9 said.

 

One of the possible advantage is because the seller is in the US. Some buyers in the US would prefer to buy locally simply due to custom trouble and if something goes wrong - you are more likely to be covered much quicker than a seller that deals overseas.

A quick look at the seller does reveal very disturbing trend of selling popular counterfeits that should not sell more than metal content.

 

Can you explain how you can tell? I'd like to get one of these someday and would like to be able to spot a fake.

 

I like Ebay but it's minefield with all the shill bidding and fake coins. You gotta be very careful on there.