Coins For Sale - Selling Coins on Ebay

Ebay has a ton of coins for sale, but before you run out and buy or sell an coins on Ebay, there are some things you should know that will help prevent you from learning a few hard lessons. Ebay is an auction website that sells many different products. Collectibles like sports cards, memorabilia, and coins for sale are amongst their biggest sellers. The reason it is such a good market is because people love to go on Ebay to look for new additions to their collections, and for the first time people all around the world can communicate and do business with one another through Ebay and the Internet. It has done wonders for the collectibles industry.

There are some great rules of thumb that you should follows when dealing with coins for sale on Ebay.

If It Looks Too Good To Be True, Then It Is

Remember this, people don't sell coins on Ebay to lose money. If they seem like they are giving it away, then you should proceed with great caution because you could very likely become a victim of a scam. Even with EBay's great security precautions, the auction system still relies on one person trusting another, and anytime you have that, you will see some scamming going on. Be sure that you are dealing with a reputable seller, check their feedback score, and see if you can find anyone who bought from them before.A little research can go a long way here.

Use Paypal

Paypal was invented specifically for Ebay, by Ebay, as a more secure payment system for their members. Too many people were getting burned with fake money orders, unscrupulous escrow accounts, and the like. Ebay decided that they would create their own processor, thus Paypal was born. I never use anything other than Paypal anymore. Don't think that you will be losing a lot of customers if you only accept Paypal, because it usually is not the case. If someone wants to buy something from you bad enough to bid on it, then they will do what they have to in order to get it, which might mean singing up for a free Paypal account. Plus, with Paypal, you are protected against fraud by their T.O.S. so it is a logical payment option.

Bidding Wars

Don't get stuck in a bidding war with someone over a particular coin or group of coins unless you simply have to have them, otherwise you will get stuck paying 5 times more for a coin than you had originally intended. A lot of times, the seller himself will go in with a separate Ebay account and bid on his own coins just to get the bid values up and start a bidding war. Of course, their is no way that you can know this for sure, so the best thing to do is set a maximum amount of money that you are willing to pay for the item and put that in the automatic bid system as your maximum bid, then the system will automatically get you the best bid price up to that amount, if it goes over that amount then it will stop bidding for you.

Don't Dropship

With collectibles, you have to stand behind your own guarantee that your items are what you say they are, and that they are in the condition that you say they are in. If you have someone else handling the coin inventory, then you can only assume that the merchandise is accurately portrayed. For coin collectibles, this is not a good option, you are better off stocking all your own inventory or collection.

Buy A Good Scanner

Don't use stock pictures of coins you sell that come from the website of a coin mint or catalog. Many sellers do this, and don't realize that there are about 100 other listings that use the same stock picture as they are, and they wonder why they can't sell the coin. The reason is that the listing looks the same as everyone else's. Make sure you scan your own coin images so they will be unique.

The last piece of advice I can give you about coins for sale on Ebay is to make up your mind early on if you are doing this as a hobby or to make money. Even though the answer could be both, you have to choose one and pursue that path exclusively, otherwise one motive will ruin the other.