Selling Coins on Ebay
At some point or another everyone has a coin or a bunch of coins they want to sell on Ebay. I have found Ebay to be a great place to both sell and buy coins if you use the proper caution and if you know what you are doing. Here is my list of ten things you must know to sell coins on Ebay:
- Is the coin original? If you know it is fake or you think it is fake, keep it off ebay. You could ruin your ebay reputation which is key for all future sales
- What is the coin worth? You should do some research using The Official Red Book: A Guide Book of United States Coins 2009
Set reserve and starting prices accordingly
- Spell everything in the coin description correctly. You would be surprised to see how many coins on ebay have spelling errors in their descriptions and because of this they do not sell for the true market values.
- You should have a good photo of both sides of the coin. A great photo is important because coin collectors are so picky when buying coins they want to know what they are getting.
- Stand behind your coins! Offer a fair return policy with customers and realize all sales on the site reflect you as a collector.
- Be smart with shipping and insurance. Do not skimp on either because it could hurt you in the end. I always suggest if you are selling coins on Ebay use tracking so you know if the customer received it.
- Do not do business out side of Ebay! If you get an email that asks to do business outside of Ebay to avoid seller fees forget. It may sound like a good idea but there is no reason to do it. Ebay is set up for a reason and it protects its buyers and sellers.
- Use paypal!
- Try to make lots out of common coins and sell rare coins as singles.
- Think of a fun way to get repeat customers. One of the best ways to build up your ebay business is repeat customers. I would always suggest freebies. I used to put a silver mercury dime in with any purchase people made. I have also bought from collectors that put in two dollar bills or just a simple print out of the history of the coin. Also if you are like me and you have a coin blog invite them to check it out with a business card or a flyer.
So have fun with Ebay. Be careful and enjoy making a little pocket change.
Happy collecting!
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