11 Things You Don’t Know About Selling Coins on eBay

By David Schwager for CoinWeek …..
plenty of people love it and enough of people hate it, but we can all agree that eBay is a major region of the coin marketplace. The service provides opportunities for everyone from casual collectors to huge dealers to sell their items. Whether you are thinking about selling or have sold on eBay for years, here are 11 things you may not know. Most of these apply whether you sell coins or anything else .

1. You never need to have an auction

eBay is often described as an auction site, but most items sell at fix prices. Auctioneers have always been a major part of antiques and collectibles, and an auction lets the marketplace decide what your coins are worth. Most sellers, however, set fixed prices for their items and wait for buyers will to pay these amounts. As a compromise, you can list an item as Or Best offer, in which a buyer can pay the request price or make an crack for the seller to accept or decline.

2. People routinely buy four-figure coins on eBay

eBay provides a good way to sell your low-value material that dealers don ’ metric ton want. It can besides provide a venue for your more valuable coins. Looking at 90-day completed sales for Morgan dollars, which trade at a wide range of prices, finds 2,200 sales at $ 1,000 or more. even if some of these are groups of coins, this means that eBay sells four-figure Morgans at the rate of about 20 per day. Although I largely trade in low-cost items, I have bought and sold $ 1,000+ notes and coins on eBay .

3. If you are a long-time buyer, you have a head start as a seller

When people ask me for advice on getting started in eBay sales, the first interview I ask is whether they buy on eBay. I advise them to start selling only after they become familiar with the platform through buy. eBay customers use the same accounts for buying and sell. If you buy on eBay or are considering selling, you already have :

  • An established account
  • A feedback score (the number of completed transactions with positive ratings from the other party)
  • A PayPal account where you can receive money

All of these help your initial sales. many people will not buy from a new account with depleted or zero feedback. If you ’ ve been buying for years and have a feedback score of 200, for exercise, you will look to buyers the lapp as an have seller .

4. You won’t get paid right away at first

The cause is customer protective covering. When you start selling, eBay does not know whether you will reliably ship the buy goods. In character you don ’ t, eBay waits a few days before paying you for the sale. They besides limit the value and number of listings for new sellers. finally, these limits go away and you receive payment arsenic soon as the buyer pays. It ’ s not publicized, but you can call eBay and ask to have the limits raised earlier .

5. You won’t get ripped off

There are enough of reasons not to sell on eBay. But one of the biggest baseless fears is the concern that buyers will take your goods without paying. Because you ship only after the buyer pays, this is not an exit .
eBay ’ second detractors bring up the rare but potential scenarios in which buyers claim they never received packages ( although postal servicing tracking mitigates against this ) or manipulate returns and refunds. These can happen, but they happen not because they are part of eBay but because they are part of business. If you open a construction company or a law practice or a restaurant, you will have occasional customer issues. A modest occupation sell collectibles online is no unlike. Most people are not thieves, and collectors go on eBay to buy coins, not to steal them .

6. Almost everyone is a pleasure to work with

As you already know if you buy through eBay, most transactions are impersonal. As a seller, you get an e-mail advising you of the sale, print the label, and drop the package in the mail. You don ’ thyroxine flush need to read the name on the label to do your job perfectly .
When you do occasionally exchange messages with a customer, it normally goes well, with both people remaining courteous and reasonable ( yes, there are exceptions. ) Most people I meet in real life are courteous and fair, so it makes sense that the people you meet on eBay, particularly chap mint people, are normally the lapp direction .

7. You can sell to foreign buyers by mailing your coins to Kentucky

alien collectors come to eBay looking for material from their own countries. When I sold my collection of french coins, for exercise, many of them went home to France. They went home through the Global Shipping Program.

You handle the sale the same as for a US customer, but mail the package to eBay ’ sulfur warehouse in Kentucky. eBay adds customs forms, handles any other paperwork, and sends the box to the international buyer, all without your interest .

8. You don’t have to go to the post office every time you sell something

If you live in the state and drive 12 miles to the nearest mail drop, eBay sales are credibly not for you .
Most of us, however, have ways to make mailing easier .
For case, rather of going to a mail function to buy postage, eBay lets you print US Postal Service mailing labels at home for your sales. The price, normally discounted from post position retail prices, is deducted from your PayPal account .
( Pro peak : buy a low-end black-and-white laser printer. The low cost per print compared to inkjet pays for itself. )
You can besides avoid a trip to the military post office to drop off many packages. modest packages, containing little things like coins, can go in a street postbox near your home or in the extroverted mail slot in your office build, apartment construct, or alike. If the chain mail carrier routinely picks up packages at your business or workplace, you may be able to leave your eBay sales for choice up at the lapp time .

9. Off-brand holders are OK

lone items certified by eBay ’ s six approved grading services can include numeric grades in listings. These are ANACS, ICG, NGC, PCGS, PCGS Currency, and PMG. Some sellers interpret this to mean that they can not mention early services or that they must crop the rate overhaul name and grade out of photograph. This is not necessary .
You are welcome to sell a coin in, for model, a SEGS MS-63 holder. You can include a photograph of the holder showing the SEGS name and the MS-63 grad and can include SEGS in the title and description. eBay only requires that you :

  • Choose the “uncertified” instead of “certified” option when making the listing, and
  • Do not include MS-63 in the title or description.

10. It’s a lot of work

I spoke with an eBay spokesperson at a recent Long Beach Coin Expo who, wanting to know how to help his customers, asked what kept me from selling even more. The answer was fourth dimension. Between researching, price, photograph, list, and embark, a typical sale takes 45 to 60 minutes. Selling a collection or running an eBay business takes time. Consider what other activity you are bequeath to give up to get the prison term to sell.

besides, the time commitment means that you need to consider whether a sale is worth the feat. Spending an hour to earn $ 100 is decidedly worth your time and spending an hour to earn $ 2 is decidedly not. Decide on a dollar design between these two numbers and spend on opportunities below this doorway .

11. eBay gives you free shipping supplies

At some orient, you may sell enough to justify paying for an eBay store. In exchange for a monthly requital, you receive lower fees and other benefits. One of the lesser-known benefits is a $ 25 citation each three months on eBay-branded ship supplies such as boxes, envelopes, and magnetic tape. They no longer publicize this accredit and it takes some searching to find it. once you do find the code, use it to buy 100 small padded envelopes that are perfect for coins for $ 26, or only $ 1 after the $ 25 deduction .
To understand the coin market, you need to both bribe and occasionally sell coins. The more you know about eBay and other sales avenues, the better equipped you are as you pursue our hobby.

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