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Coin Auctions on eBay

smccoins
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 Now on ebay you can obtain a copy of the 2008 US coin book for a reasonable price. This is the only coin book in the world that is close to being accurate for realistic coin values derived from real auctions and coin shows. This download will come to you with free coins of your choice to be mailed to you absolutely free!! Take advantage of this offer while it lasts since some of these coins have been selling on ebay for over $3.00 each!!

How do you know if a coin will be what you expect if you only have a photograph or a description to look at?
There is never a guarantee that you will receive a properly graded coin from any source. The best that you can hope for is the reliability of the seller. Seller's and coin dealers that make selling coins a business need to ensure that the quality of what they sell is exactly as stated or better in order to maintain a good business and obtain customers.

A coin seller is similar to that of a seller of used cars. A used car dealership that is selling cars that are unreliable will eventually lose business simply by word of mouth. A used car dealership that presents cars that perform will gain new business and retain the future business of buyers when they can back up what they sell.

A coin dealer that sends out inferior coins will suffer the fate of not retaining business and therefore the dealer will eventually lose market share. On eBay, this seller will receive a lot of negative ratings.

FEEDBACK
Ebay provides a medium for the buyer to use when making a decision to purchase coins. One should always read the feedback of a seller to see what others are saying about the coins that they received. When bidding on coins, there are several things to consider about the seller. The first is the number of negative feed backs compared to the number of total ratings received. A large number of ratings, say 1000 or more should be an indication that the seller is satisfying 99%+ of the people sold to. Keep in mind that a percentage can change dramatically when the numbers of sales and ratings involved are small. On the other hand as the numbers get larger the percentage of change is smaller. For example 1700 positive ratings out of 1703 received will yield a 99.8 rating. If the rating was doubled to 3400 positive out of 3403, the percentage is only going to change  by one-tenth  or  99.9. 
Keep in mind that not all negative feedbacks on a seller are really justified. I have never recevied a negative feedback for a coin sold, but I have received negative feedbacks on the average of one every six months because you will generally run into someone that just wants to harass you for something. One guy tried to steal coins by saying that if I did not give him a discount he would send negative feedback, he did and he got away with it. One person said I took to long to ship and sent me a negative feedback for getting the package just five days after he paid. SMCcoins stands at 99.7 which is still quite outstanding considering the vast majority of buyer really like our coins and service.

Coin Descriptions Tell a Story

Look for words used in the description that may indicate that a seller is not familiar with coins. Words like old coin and antique coin are not Numistic terms that properly describe coins. Use of the word rare should only be used to describe a coin that is truly rare. Use of estate salecoin is useless since it does not mean the coin is any better than another that was not purchased from an estate sale. Words like treasure found, Fort Knox, unsearched, a rare coin has been found in my roll are generally ploys to get you buy the coins. Unsearched is tricky since there is no way of telling if this is fact or fiction. It is easy to go to a bank and have hundreds of common dated Mercury dimes rolled in bank wrappers by a machine that tucks in the sides like a roll from the US Mint. Since we have been around in the coin world since the early 1960's, we can safely say that any silver roll of coins from this period should contain a good mix of dates and grades. In addition, old bank wrappers dating into the 1960's are always plan in color of green or brown and often times the name of the bank is on the wrapper. Newer rolled coins are generally wrapped in wrappers with the stripes on them. If you receive a roll of so called old coins in a wrapper with stripes on it, it is not old at all.

Look closely at Coin Pictures
If you don't have a clear picture, do not buy the coin no matter how good the deal is. Wheat cents must show the lines in the stalks..if they are not clear in the picture ask how much detail there is in the stalks. Look for the torch lines in a Mercury dime. Look for the horn wear in a Buffalo nickel. Look for wear on the Eagles feathers on a Washington Quarter. All these are the basic signs that can signify the grade of the coins listed above. Keep in mind that ANA is the most widely accepted grading in the world and if you can purchase a photographic guide of coins by ANA it is worth the investment. Of course if you need a copy for a particular coin I might be able to send you the photographs.

I wanted a two cent piece in extra fine condition for my collection. I saw a coin on ebay and the seller had a reating 100%. The coin was posted as XF, but the photograph was not revealing enough. I could see some of the details in the coin and they looked good, however, the most important detail could not be seen. This happen to be the "WE" in "In God We Trust" which is supposed to be very detailed in an extra fine coin. When I received the coin there was no "WE". I contacted the seller to send the coin back and he said he would refund my money...I am still waiting after 6 months and counting.

If you would like us to look at a coin on eBay that you would like a second opinion for, simply email us at contactsmc@aol.com.

 
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