New Member Introduction

[ScottCarlson]

Good morning, all. I'm fairly new to the coin hobby but intrigued by the search for and discovery of mint error coins. I recently inherited a family collection and am now in the process of careful review and documentation of the inventory. I have an eBay store where I sell some of the more interesting coins. I think the Coneca forum will be great source of knowledge and expertise. I am looking forward to learning a lot.

Best regards,
Scott Carlson

[mustbebob]

Welcome Scott. We are glad you're here and will help where we can.

[MintErrors]

Welcome aboard. Hope there are some winners in there for you = )

[RollMeUpAbe]

Hi Scott. I am curious how you manage to make a profit selling on Ebay. It seems like selling individual coins is problematic due to all the fees. Was even surprised to find they include the postage when calculating the fees they collect.

[ScottCarlson]

I understand what you're saying, but my collection was inherited, so my profit is 100% of whatever eBay sends me minus supplies (padded envelopes, boxes, labels, etc.). I also bought a label printer so I can buy shipping labels from eBay and print them here. You are correct that they charge a 12.9% fee on total revenue, so if buyer pays me for shipping, eBay gets a cut. However, their charge for shipping labels is always about $1 less than the buyer pays. I'm usually selling at about 50-60% of Fair Market Value based on the PCGS price guide.

[MintErrors]

Ebay used to be a decent selling platform. I haven't sold on there in years, but that is my stance and opinion why. I found it easier and less profit lost to stand up a web server and do an e-commerce site. It allows more flexibility, the ability to post and make sales. I have reduced the coin shows we set up at since we do ok online.

its all about keeping the revenue stream going if you want to do that, or simply sell what you want and find closure when it's all gone. Places like USACOINBOOK takes just 2 percent and are not riddled with fees, some subjective in my opinion. A place like USACOINBOOK, some knowledge of SEO ( search engine opitimization) is a plus to help people find specific listings.

If you are happy with what you are doing, that's all that counts.

[RollMeUpAbe]

Thanks Scott & Gary for your feedback. Validates my experience that coins sold in an auction format are not always achieving FMV and the fees take a significant cut. I guess I will wait till Electric Vehicle production drives the price of copper and silver to new highs and then sell wheaties in pounds for 20 cents apiece!

Welcome again Scott. Looking forward to seeing some of the discoveries from your inherited collection.