Recently, I have been getting into collecting modern commemorative US coins, and I have been searching for these coins on eBay. Scrolling down through a list of "Buy It Now" certified commemoratives (lowest price first), I see several listing photos of beautiful, pristine coins that are listed at the lowest prices. When I click to see the description, I then discover that the listing photo is a stock photo. The only time I buy coins from eBay with a stock photo is for bullion only. With coins, I always like to see what I am buying. But many commemorative coins can be bought for $15 slabbed as a proof 69. I understand that it would be too time consuming for a vendor to list each and every coin - especially if the vendor has 50 or more to sell. This gives me two options: 1) buy a coin knowing only that is has been graded (PCGS PR69DCAM for example). 2) spend two or three times more money for the coin in the same grade, but knowing that the coin I receive is the same as the coin depicted in the listing. Does anyone have experience buying coins without seeing them? This is not limited to eBay. Many numismatic magazines have ads which list a ton of coins specifying only the grade. I would never pay $250 for a Trade Dollar graded XF 40 with out seeing the coin.
Good topic. As far as stock photos go, I will accept those only for bullion coins purchased as PMs investments. A dealer might advertise eight MS64s in a particular coin but I want to see the coin I’m buying in that case. All coins at the same grade are not alike, as we know.
Stock photos are generally fine for generic grade US mint ultra modern issues (like you were searching) especially if they were graded.
It is just like buying something from a seller that says, "Dates our choice", or "Make alternate choices if your first choice has already sold". No way José.
Most of the modern silver and gold commems are traded based on a small premium to melt value (like your example of the silver dollar which at $15 is a few dollars over spot). Some sellers do have actual photos and their prices might only be a few dollars more (say $18-$21). Another option is to go to a local coin store or coin show (if you have some in the area). Many of these coins are slow to sell so maybe the dealers would be more willing to give you a deal and you’ll be able to see the coins in person.
I appreciate your input. I have never submitted a coin for grading so I am not sure what it costs to have one graded and slabbed. I have often wondered how much of a profit can a vendor make selling a slabbed coin for $10 to $15 - sometimes with free shipping. You hit the nail on the head. I would even go further to say that a coin in a lower grade can be more visually appealing than one in a higher grade. I have been hunting for a Capped Bust Half Dollar and have seen some graded as VF30 much nicer than some graded XF40 or XF45. It's not that easy to these half dollars with well defined dentiis or with all of the letters of the motto "E PLURIBUS UNUM" present. Since these coins are not expensive, I don't mind paying a little more for a coin if the vendor posts the actual photo. But some (magazine) ads list coins for several hundred dollars with no photos. Unfortunately, it's almost an hour drive to the nearest respectable dealer. Otherwise, I would be at the shop everyday. There was a very nice coin shop only 10 minutes from my home. To my dismay, the owner retired. Me too.
I would like to mention buying coin rolls as well. Not to long ago, I bought a BU roll of 1962 Lincoln Memorial Cents from eBay. Some of the coins in the roll were far from BU.
