Thursday 22 October 2009
I always have people asking, "How should I sell these on eBay?"
When it comes to coins that can be a tricky question. Especially if you have a lot of coins that you want to sell. If you don't know the values then it can be even harder to decide the best way to sell them.
You have 3 options for listing the coins. You can list each coin individually, which can be expensive and your chances of selling everything you list may be limited by the demand of those particular coins. If you are unsure of the coins' values, then I don't recommend listing the coins individually unless they are at least 40 years old or older.
Your next option is to list the entire collection in one large lot. This is a great idea if you are fairly certain that your coins are not worth a lot of money individually. If you have an exact count of the coins you are wanting to unload that is great. If there is too many for you to count, I recommend weighing them on a scale. Be sure to list that weight in your listing's description and even the title. I've had people approach me and ask, "well I'm pretty sure 990 of these 1,000 coins are not worth much, but these 10 here are worth more than the rest put together." To those people, I recommend you list the bulk coins in a lot and sell the other 10 individually, if their value is significant.
You can also list coins in partial lots. If you have a mix of coins from various countries you can consider separating them by country. There are many collectors out there that only collect a specific country. I sell Grab Bags of mixed world coins on eBay and have had some good luck selling them. Sometimes I get too many coins from the same country so I've sold lots of just that specific country to collectors looking for just those coins. This makes those specific collectors happy and allows my grab bag customers to end up with a better mix of coins because I have less duplicates to give them. It's a win-win-win situation for all of us. :)
If you do decide to sell grab bags, don't be one of those sellers promising gold coins unless you really have them and plan to give them away. I'm fairly certain I've never had a gold coin in one of my grab bag lots and I don't even hint at the possibility.
Reading the above paragraphs might not have helped you narrow down your options at all. The next step which will help you get the most money for your items is to research Completed Listings
By searching the Completed Listings you can see how much coins in similar condition are going actually selling for. Some people get excited when they see someone auctioning a coin and their asking price is ridiculously high. Who cares how much someone is asking for a coin? I only care about how much a buyer actually pays. eBay color codes sold items using red and green prices. Green prices mean an item was sold successfully. Red prices are items that did not receive any bids. The green prices are what really matter when determining value.