Ebays new guidelines for certified coins, it is about time in my opinion

[utah hunter]

Ebay's new guidelines for certified coins, it is about time in my opinion

These went into effect on September 17th. No more of those generic grading holders with grossly overgraded coins. Whenever I have bought a coin in one of those holders the first thing I do is break it out and free it from the bonds of misgrading. No more INFLATED PRICES IN TITLE OR DESCRIPTIONS BASED ON THE OVERGRADED TRENDS! Thanks freaking goodness. The ANA has been hounding ebay on this for a while, and it will take ebay a while to catch up on all the problem listings, but I am glad it is finally happening. No more title saying "$100,000 in certified coins" that end up with $50 in new overgraded modern crap.

Here are the guidelines straight from ebay:

When listing a certified coin, the coin must be certified by one of the following authorized grading companies:

Numismatic Guaranty Corporation (NGC)
Numismatic Conservation Services (NCS)
Professional Coin Grading Service (PCGS)
Independent Coin Grading (ICG)
ANACS
In addition, listings for certified coins:

Must be assigned the appropriate grading attributes in each listing. Sellers must select the appropriate grading attributes within the Sell Your Item form, including "Grading Company," "Grade" and "Serial Number" provided with that grading.
The listing must include an image of the item, showing the coin in its graded holder, front and back.
If the coin listed is not certified by one of the above authorized grading companies, the coin is considered raw/uncertified and is subject to additional requirements for their sale.


Raw and Uncertified Coins
A raw or uncertified coin is defined as any coin not graded by one of the authorized grading companies. Sellers are permitted to list these items on eBay under the following conditions:

A numeric grade is not included in the title of the listing, such as MS-65, VF-25, etc. A numeric grade may only be included in the description of the listing.
The grading company or price guide is not referenced in the title or description.
A dollar value (even if personal opinion) is not included in the title or description

 

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[teverly]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

I agree that ebay needs better guide lines.
But if you are really into coins then you should know that no one is going to sell you any top grade collection or piece there of for 50 or even 100 dollars.
The old saying buyer beware really applies to ebay.Please read the description and if you do not know what coins are worth or how to basically grade one then dont buy.
The old adage,if it sounds to good to be true, then it is.....You wont buy a 30,000 dollar car for 30.00 bucks so why buy 100,000 dollars worth of coins for 100 and think it will eally be worth 100,000.
And if you read a lot of those ebay adds they state that you only get value of what the final bid is or 4 or 5 coins from the collection.
And i speak from experience as a buyer who got ripped off.

 

[utah hunter]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

The ads are still the same because with over 100,000 US coin listings and a new policy change there will be a transition period before the ads get cleaned up. They have to let the ads finish that were running before the policy change.

Generic holders refer to all the grading companies that have cropped up like hallmark and countless others who have tried to look like pcgs and the other top companies, but do not have the same grading standards. They will put coins in MS-70 holders with large bag marks, that would grade MS-60 with legitimate grading company. The price difference is huge between those grades even in modern coins. Then dealers will quote the price as trending at $5,000 for an MS-70 coin knowing full well it is worth $10. Most buyers know this and have gotten used to wading through the crap.

 

[utah hunter]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

I agree that ebay needs better guide lines.
But if you are really into coins then you should know that no one is going to sell you any top grade collection or piece there of for 50 or even 100 dollars.
The old saying buyer beware really applies to ebay.Please read the description and if you do not know what coins are worth or how to basically grade one then dont buy.
The old adage,if it sounds to good to be true, then it is.....You wont buy a 30,000 dollar car for 30.00 bucks so why buy 100,000 dollars worth of coins for 100 and think it will eally be worth 100,000.
And if you read a lot of those ebay adds they state that you only get value of what the final bid is or 4 or 5 coins from the collection.
And i speak from experience as a buyer who got ripped off.

You are right, I always feel bad because it is new buyers who get ripped off the most. Many people don't know and think they are ripping off a seller, when they are the one getting hosed.

 

[VERMONTPACKRAT]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

I have been buying and selling coins on ebay for a while now. The rule that I live by is to know what you are looking for, 1912-D Wheat cent, 1944 Walking Liberty, etc, etc.... Find several examples of the coin, compare condition, cost. READ there feedback !! I think that it is a good way to judge who you are sending money too.

If it looks to good to be true....it probably is....




VPR

 

[djui5]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

And if you read a lot of those ebay adds they state that you only get value of what the final bid is or 4 or 5 coins from the collection.
And i speak from experience as a buyer who got ripped off.

Those lots piss me off! I can't believe they're getting away with all that crap. Thankfully no more. I hate going through the lot section, where you'd expect to be able to find a good deal on a bunch of coins, only to discover it's a bunch of coin dealers selling off small "grab bags" of their crappy coins. They'll toss in a decent one for prosperity...bastards.

Also agree entirely with what VPR said.

 

[diggummup]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

Let the buyer beware. I have bought many coins off of ebay and resold some of them months later. I made money on almost everyone. I didn't list them with anything other than a good photo and my own opinion of the grade. I didn't throw out any opinions on the "value" or what they list for or any other crap. I've seen the listings you guys are talking about and often wondered who would buy from these people. If it sounds too good to be true, it is. Anything I bought off Ebay, I paid no more than melt value for. I don't buy coins that I plan on keeping off of Ebay.
If you wanna get serious when it comes to collecting coins,use a reputable dealer,don't use Ebay.

 

[oldplacesnofinds]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

Where is this stated on Ebay? I think it is a stupid idea and I agree with the people who say buyer beware. If you are an idiot, why do others have to suffer because of your stupidity? I don't flip onto Ebay and decide to start buying antiques I have no idea about and take the word of the seller it is worth $1000's! I do not agree with the people selling crap coins in "fake" holders trying to make a buck. Read their feedback. I am sure it will be full of negatives. I have sold 100's if not 1000's of coins on Ebay and never received anything but positive feedbacks. This includes all the coins in PCI holders I have sold. Many to error collectors that have all been satisfied. A seller can't give his opinion on the grade of a coin if it is not certified? This country has too many liberals.

 

[utah hunter]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

Where is this stated on Ebay? I think it is a stupid idea and I agree with the people who say buyer beware. If you are an idiot, why do others have to suffer because of your stupidity? I don't flip onto Ebay and decide to start buying antiques I have no idea about and take the word of the seller it is worth $1000's! I do not agree with the people selling crap coins in "fake" holders trying to make a buck. Read their feedback. I am sure it will be full of negatives. I have sold 100's if not 1000's of coins on Ebay and never received anything but positive feedbacks. This includes all the coins in PCI holders I have sold. Many to error collectors that have all been satisfied. A seller can't give his opinion on the grade of a coin if it is not certified? This country has too many liberals.

it is right here: http://pages.ebay.com/help/policies/selling-coins.html and you click on the show examples and additional information boxes. The problem is people intentionally trying to decieve. I have never been ripped off because I have been collecting since I was a kid and have bought and sold thousands of coins, but people have become increasingly deceptive, they don't show the actual item they are selling, and they give inflated prices. Ebay had no choice but to act in my opinion.

 

[djui5]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

Another thing people like to do is post black&white photos of Silver coins. I bought 3 merc dimes from a buy and they showed up looking a little different than the picture. The B&W photos don't show as much crap...

 

[cwdigger]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

I agree with vermont I buy and sell on ebay alot, and if you read the sellers feedback that will tell you alot, I also am glad that they are doing away with these fake grading services such as ING,GEC,INB etc....when I first began on ebay 4 years ago I purchased a a 1960-P Jefferson 5c "Gem MS70" INB certified strong strike and a couple of SGS coins never heard of INB or SGS but looked good from the picture so I bought them, it was a joke I kept it for a keep sake. Heres a pic

 

[oldplacesnofinds]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

The biggest problem in what Ebay is doing is they will not let you put a grade on a raw coin, in the title. That means you have to look at each coin to either find out what the seller feels it is or what you think it is. I just sold a 1826 half cent on Ebay. It was an EF but if I just put 1826 half cent, how many people are going to want to sift through all the coins for sale looking for the grade they want? Or who wants too. I would rather take the sellers opinion first, then look at the pics and make up my own mind. If I wanted an UNC 1907 indian for my collection, I may have to go through 100's of coins to find the one I want. Do you guys understand what I am saying? It is BS. I have been with Ebay since the start and have sold and bought 100's of coins with no problems. I hate that they think they have to babysit. I agree on not letting people sell coins from the fake certifiers but the other stuff is just crap.

 

[cwdigger]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

The biggest problem in what Ebay is doing is they will not let you put a grade on a raw coin, in the title. That means you have to look at each coin to either find out what the seller feels it is or what you think it is. I just sold a 1826 half cent on Ebay. It was an EF but if I just put 1826 half cent, how many people are going to want to sift through all the coins for sale looking for the grade they want? Or who wants too. I would rather take the sellers opinion first, then look at the pics and make up my own mind. If I wanted an UNC 1907 indian for my collection, I may have to go through 100's of coins to find the one I want. Do you guys understand what I am saying? It is BS. I have been with Ebay since the start and have sold and bought 100's of coins with no problems. I hate that they think they have to babysit. I agree on not letting people sell coins from the fake certifiers but the other stuff is just crap.

I agree with that of the fact that I have sold hundreds of coins as well had powerseller satutes a few times and it does make an easier more professional listing if you have a coin with an opionated grade beside it, Like if I were to try to sell a roll of silver eagle's and just use that as my listing its prolly not gonna turn out good but if it says "Roll of 20 Brilliant Uncirculated silver eagles" most likely gonna get more bids. I just wish that would do away with the "fake" graders people who buy there own slabes and labels and do some copying and pastings to make a fake NGC label or one to that extent. Just my 2 cents worth

 

[utah hunter]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

It is a NUMERIC grade that is not allowed, ie MS 63. Putting vf, au, or unc is allowed.

 

[WheatbackDigger]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

Yep, what he said. You cant put a numerical grade, but AG,G,VG,F,VF,XF,AU,BU, GemBU, all are acceptable in the title

 

[oldplacesnofinds]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

That is good to know. Thanks for the input!

 

[Texas Coin Hunter]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

Hi here is a Photo from Ebay which show a coin
that has been OVERGRADED By Star Gradeing Service
which is a 1 man operation & the guy works outta
His Garage

Dave

 

[SgtSki in MI]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

I concur with the "About Time!!" statement made on another post. Very rarely do I buy coins, except for proof sets and proof commemoratives from the US Mint. When I do buy coins, I do it at a dealer or at a show and I have a loupe and my ANA grading standards book in-hand. I prefer to buy where I can be "hands-on" with the merchandise. About the only thing I buy on eBay as coins go are the occasional rool or two of uncirculated Wheaties (I put them in holders and use them for drops in Geocaches).

I see a lot of "certified" coins on eBay lately from grading services that I've never even heard of. I like that the serial number is required on certified coins as well. How hard would it really be in this day and age to put together a bogus PCGS, ANACS, or NGC slab? Now you can run the serial number to verify it.

 

[iwas1ncthr]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

These went into effect on September 17th. No more of those generic grading holders with grossly overgraded coins. Whenever I have bought a coin in one of those holders the first thing I do is break it out and free it from the bonds of misgrading. No more INFLATED PRICES IN TITLE OR DESCRIPTIONS BASED ON THE OVERGRADED TRENDS! Thanks freaking goodness. The ANA has been hounding ebay on this for a while, and it will take ebay a while to catch up on all the problem listings, but I am glad it is finally happening. No more title saying "$100,000 in certified coins" that end up with $50 in new overgraded modern crap.

Here are the guidelines straight from ebay:

When listing a certified coin, the coin must be certified by one of the following authorized grading companies:

Numismatic Guaranty Corporation (NGC)
Numismatic Conservation Services (NCS)
Professional Coin Grading Service (PCGS)
Independent Coin Grading (ICG)
ANACS
In addition, listings for certified coins:

Must be assigned the appropriate grading attributes in each listing. Sellers must select the appropriate grading attributes within the Sell Your Item form, including "Grading Company," "Grade" and "Serial Number" provided with that grading.
The listing must include an image of the item, showing the coin in its graded holder, front and back.
If the coin listed is not certified by one of the above authorized grading companies, the coin is considered raw/uncertified and is subject to additional requirements for their sale.


Raw and Uncertified Coins
A raw or uncertified coin is defined as any coin not graded by one of the authorized grading companies. Sellers are permitted to list these items on eBay under the following conditions:

A numeric grade is not included in the title of the listing, such as MS-65, VF-25, etc. A numeric grade may only be included in the description of the listing.
The grading company or price guide is not referenced in the title or description.
A dollar value (even if personal opinion) is not included in the title or description

I cannot agree with you more! I think Trends should be thrown in the flames as far as there opinion. If I ever buy a coin from eBay the first person I skip over is the one with the ***TRENDS $5000!!!*** or anything that has trends in the heading. I seen a 1958 lincoln being advertised as a $5800 coin by trends, what a bunch of crap. To be honest I even think PCGS is way off on some of there prices, kinda makes ya wonder if the estimaters are writting it up under an open jar of coin cleaner.

 

[jeff of pa]

Re: Ebay's new guidelines for certified coins, it is about time in my opinion

Companies Sue eBay over Coin-Grading Policy
Five companies sued eBay, the American Numismatic Association (ANA) and the Professional Numismatists Guild Inc. in January for defamation and unfair and deceptive trade practices. The complaint states that in September 2007, eBay put into place a policy in which only coins that have been graded by four grading services (NGC, PCGS, ICG and ANACS) may be listed for sale on eBay as "certified" coins, referring to all other coins as "counterfeit."
http://www.auctionbytes.com/cab/abn/y08/m01/i23/s02