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Adding Collecting Guides

August 16, 2017 in Blogs, Coins, Collecting, Education, Entertainment, Fun, Numismatica, Numismatics, Opinion, Rare Coins, USA Coins, World Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

Over the last few weeks, I have been working on a few writing projects that include primers about collecting numismatics. While some of these articles have allowed me to repurpose blog posts, I have had to create some content not posted before. In the past, I posted a few including the series on small dollars […] Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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Exaggerated descriptions plague coin auctions

June 19, 2017 in Auctions, Coins, Coins for sale, Collecting, E-commerce, Education, Ethics, Grading, Investing, News, Numismatic Crimes, Numismatica, Numismatics, Online Tools, Opinion, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

I am growing weary reporting exaggerated descriptions in online coin auctions hosted by major portals, such as Proxibid and eBay. While it is difficult for those portals to monitor all lots in multitudes of auctions, it nevertheless hurts the hobby when hyped descriptions are not reported.

Here are just a few recent examples. I could provide many more, but these deal with coin rolls, raw coins, and holdered coins by eBay-approved and unapproved companies.

Let’s start with the “never opened” roll (hover cursor over images to zoom)… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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More Bidding Basics: Buy It Now & Make Offer “Deals”

March 18, 2017 in Auctions, Coin Grading, Coins, Coins for sale, Collecting, E-commerce, Ebay, Education, Grading, News, Numismatica, Numismatics, Opinion, Rare Coins, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Every now and then we need to monitor the major online coin portals in our “Bidding Basics” series—this time, concerning “Buy It Now” and “Make Offer” deals on Proxibid and eBay.

Some general rules:

  • Never bid on raw coins unless you are an expert grader, trust the seller, can view excellent photos, and can return the coin if unsatisfied.
  • Never bid on coins in bottom-tier slabs unless you spot a mistake like a rare error or variation that isn’t listed on the label.
  • Consider not wasting time on “Buy It Now” offers unless you need the coin or currency for your collection… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Dipped: Know the Tell-Tale Signs

February 28, 2017 in Antique Coins, Coins, Coins for sale, Collecting, Copper, Copper Coins, E-commerce, Ebay, Education, Morgan Silver Dollars, News, Numismatica, Numismatics, Opinion, Pennies, Rare Coins, Silver Coins, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Increasingly on Proxibid, HiBid, and eBay, I am encountering dipped coins, making me wary about placing any bids, even on Morgan dollars like this 1902 one depicted above. That’s not how a 115-year-old silver coin is supposed to look, unless it was broken out of a bank roll, in which case the seller would have offered more than one in this condition.

This coin was expertly dipped, meaning it still may slab at PCGS or NGC.

You can buy dips at coin shops, at shows, and online. Each dealer or expert hobbyist has his or her formula, usually diluted with… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Follow-up: The Volatile State of Online Estate Auctions

February 14, 2017 in Auctions, Coins, Coins for sale, Collecting, Education, Investing, News, Numismatica, Numismatics, Opinion, Rare Coins, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Earlier this year I wrote an investigative analysis titled “The Volatile State of Online Estate Auctions,” noting how tardy technological upgrades in addition to fees from auction portals and credit card companies—often combined with building rent and/or upkeep of onsite facilities—continued to push buyer premiums ever higher.

Shipping has always been an issue with auction houses. Some use third-party shippers. Some do not ship at all.. And a few charge high shipping fees..

These costs were passed to bidders, I noted. At first, auctioneers with onsite clientele did not charge local buyers any fees. Then many had to do so… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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The Domino Effect of No-Pay Bidders

October 21, 2016 in Coins, Coins for sale, Collecting, E-commerce, Ebay, Education, News, Numismatica, Numismatics, Online Tools, Opinion, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

call-of-duty-black-ops-ii-multiplayer

Online bidders who think coin auctions are a kind of video game do damage, not only to their own credit (if they even have or care about credit) but to portals, auctioneers, consignors and buyers who lost out on bids or who will pay ever-higher premiums when they do win coins.

I used to sell on eBay and had to follow up on no- and slow-pay buyers, often leading to uncivil messages that made me stop doing business on that portal, content to consign to popular auctioneers and pay 10-15% seller fees in addition to more fees for photos and listings…. Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Online Platforms vs. Buyer’s Fee: Share Your Views!

July 7, 2016 in Auctions, Coins, Coins for sale, Collecting, E-commerce, Education, News, Numismatica, Numismatics, Rare Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

proxibid4

Occasionally we need our viewers to weigh in on a complex or controversial issue, and this is as controversial as it gets: questions about where you do online coin business and why and what terms you are willing to accept or reject.

We will cover fees (paid by sellers and buyers) in addition to services before sharing some examples from my Proxibid experience–which you can affirm or contest, as always, because your opinions matter at Coin Update.

First, some background to inform your views.

Last year Numismatic News ran an interesting and prescient piece chronicling the reasons hobbyists are buying more coins online… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Proxibid Adopts Bidder-Friendly Coin Listing Rules

September 2, 2015 in Certified Acceptance Corporation (CAC), Coins, Coins for sale, Collecting, Ebay, Education, Fake Coins, Fun, Grading, News, Numismatic Crimes, Numismatica, Numismatics, Online Tools, Opinion, PCGS (Professional Coin Grading Service), Rare Coins, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

proxibid

I’ve been writing about self-slabbed and hyped coins for more than five years on Coin Update News, not only because of the inherent dishonesty of auctioneers calling a silver-melt Morgan MS67, but also because of concerns about the hobby.

One bad transaction in which a significant sum is lost, based on misleading or even fraudulent information, and the buyer will typically cease collecting coins.

In a 2010 Coin Update News article, I noted that eBay (but not Proxibid) had changed its coins and currency rules to exclude grades and values from titles, item specifics, and descriptions for any lot not… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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12 Most Common Coin Problems

May 15, 2015 in Antique Coins, Auctions, Clubs and Associations, Coin Dealers, Coin Grading, Coins, Coins for sale, Collecting, Education, Gold, Gold Coins, Grading, News, Numismatica, Numismatics, Rare Coins, Silver, Silver Coins, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

acid

Many hobbyists, especially those starting out, cannot detect the 12 most common problems found on eBay, Proxibid or other online portals. With more coin sales happening now online, often with unreliable sellers who may or may not have any numismatic expertise, it is increasingly essential to identify problems before bidding and determine whether you can live with the flaw.

When I started collecting, I would ask my local coin shop dealers about how to spot problems. Later, coin club presentations helped me learn. However, with our busy lives and fewer brick-and-mortar shops in home towns, the best place to learn… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Bitcoin Set to Overtake eBay’s PayPal in Transaction Volumes

May 26, 2014 in Bitcoin, Currency, Digital Currency, E-commerce, Ebay, Investing, News, Virtual currency

By: Jerin Mathew. May 24th, 2014 (http://www.ibtimes.co.uk/) (international Business Times)

Bitcoin

Bitcoin

Popular digital currency bitcoin is expected to overtake e-commerce giant eBay’s payment processor PayPal in terms of US dollar transactions in the near future.

California-based hedge fund Laureate Trust says that bitcoin is fast establishing itself as the currency to use globally and instantly to make purchases or payments over the internet recording nearly $300m (£178m, €220m) daily in transactions.

“Whenever you have an instrument that trades over 300 million US dollars a day, it must be recognized,” Peter Tasca, CEO of Laureate Trust, said in a statement.

“The digital currency works, Bitcoin has greater volume transactions than Western Union and we anticipate it will overtake PayPal later this year.”

PayPal processes payments totalling $315.3m every day, according to Statistic Brain.

“In the next one or two years, Bitcoin can surpass the dollar transaction volumes of other established payment companies including Discover, and even American Express, MasterCard, and Visa,” said SmartMetric CEO Chaya Hendrick.

Bitcoin was launched in 2008 and is traded within a global network of computers. They can be transferred without going through banks or clearing houses, reducing fees involved in the services significantly.

Full article at the source>

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The eBay PCGS Coin Catalog Is Coming Soon: How It Will Benefit Sellers And Buyers

August 13, 2013 in Auctions, Coin Grading, Coins, Collecting, Ebay, News, Press Releases

– August 12, 2013 (http://www.pcgs.com)

Professional Coin Grading Service (www.PCGS.com) is teaming with one of the world’s largest online marketplaces, eBay (www.ebay.com), to expand the eBay U.S. and Canada Coins Catalog feature to benefit sellers and buyers. When the new catalog from PCGS goes online this fall it will immediately grow from the current 8,500 products to more than 41,000.

The renewed U.S. and Canada coins catalog will allow for more detailed descriptions of specific coin attributes, as well as further differentiation for the collecting community. These detailed descriptions, item specifics and high resolution images in the catalog will allow novice and experienced sellers alike to more accurately identify the coin they are selling on eBay.

“We are providing eBay with expanded structured data that will essentially quadruple the number of products in the eBay category and improve the standardization of listing information across the category,” said Don Willis, President of PCGS, a division of Collectors Universe, Inc. (NASDAQ: CLCT).

“Listing with the new eBay-PCGS catalog will be a fast and easy way to create professional, detailed listings and make it easier for buyers to find exactly what they are looking for. Sellers will benefit from detailed product descriptions and the high-quality imagery available in the eBay catalog,” said Willis.

The change in catalog provider is expected to occur online in September and detailed information will be available before then for sellers who want to participate.

Full article at source>

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eBay Now Sells Millions In Gold And Silver Through New Investing Platform

December 13, 2012 in Coins, Ebay, Gold, Gold Coins, Platinum Coins, Precious Metals, Silver, Silver Coins, USA Coins, World Coins

Abram Brown, Forbes Staff (http://www/forbes.com)

Forget used textbooks or vintage records. The hottest items for sale on eBay today will put a truer sparkle in your eye: You may now, with a large measure of safety and security, buy physical gold and silver, as well as platinum and palladium.

Through a new partnership with APMEX, a metals dealer, eBay allows you to buy as much as you’d like, in $10,000 increments.

Full Article>

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