Author Topic: Where to sell other than eBay and this forum?  (Read 9250 times)

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Offline PandaBear

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Where to sell other than eBay and this forum?
« on: April 30, 2016, 06:30:24 AM »
Im trying to help a friend sell some Modern Chinese Coins (MCC) but have a bad experience with eBay since buyer claimed he only got an empty box and eBay sided with him!  Also, since I dont have enough post and still a newbie I cannot post on this forum classified.  Anyhow, if anyone can help that would be appreciated, danke.

Offline paul4444

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Re: Where to sell other than eBay and this forum?
« Reply #1 on: April 30, 2016, 08:44:08 PM »
A great place to shop is the PandaCoinStore.com.    Great people and service.  every now and then they sell some rare coins.  I just picked up a NGC Pr68 1/20 1997 platinum panda.  Great rare coin. 

Offline Mirkkanen

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Re: Where to sell other than eBay and this forum?
« Reply #2 on: May 02, 2016, 12:41:33 AM »
Im trying to help a friend sell some Modern Chinese Coins (MCC) but have a bad experience with eBay since buyer claimed he only got an empty box and eBay sided with him!  Also, since I dont have enough post and still a newbie I cannot post on this forum classified.  Anyhow, if anyone can help that would be appreciated, danke.

I believe that there are a number of Chinese coin dealers located in Germany. I would guess that some of them would be interested in the opportunity to buy your coins. Maybe a German member here can help point you in the right direction.

Offline baron88

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Re: Where to sell other than eBay and this forum?
« Reply #3 on: May 02, 2016, 10:20:09 PM »
It seems a buyer claiming receipt of an empty box scam is quite common nowadays.    N17

Offline PandaBear

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Re: Where to sell other than eBay and this forum?
« Reply #4 on: May 03, 2016, 04:58:54 AM »
Does anyone know where I can mail the coins and receive money other than eBay or physically going into the coin store to sell?  danke in advance.

Offline KeyDate1/2ozPandas

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Re: Where to sell other than eBay and this forum?
« Reply #5 on: May 03, 2016, 09:49:04 AM »
If I were in your position I would reconsider selling on eBay with restriction of German address only.  Ebay is the best venue to sell the type of coins you have, which are only bought by collectors and need to be exposed to many buyers.  

Suppose you have ten coins to sell that are worth $200 each, a coin shop might offer you $400 for the entire lot if you are lucky, at coin show with a dealer specializing in Chinese coins might offer you $800 for the entire lot, while on Ebay if you price the coin at $180, you will net at least $1500 after fees and shipping. Even if 1-2 buyers scam you, you will net still around $1200 which is 50% better than $800 you could get elsewhere.  What is more is once you establish credibility on eBay the risk of being scammed goes down dramatically.  

You are new at this and over the years I have seen many newbies try to sell coins on this forum, eBay and via email.  This is what I have concluded over the years to protect myself from being scammed.

Red flags, sellers to avoid:
1) seller is new and doesn't have history of selling coins.  There is 1995 5oz bimetal panda in eBay from a newbie seller in Greece, I would love to own the coin, but the auction is a scam.
2) seller is shipping international.  When a stranger ships internationally you are taking a lot of risk for loss.  The risk is even greater when the seller doesn't have a lot of experience shipping internationally.
3) seller motivation for selling are suspicious, medical bills, selling for a friend, father passed away, etc why disclose your motivation to sell is, it just makes your position weaker.  Those that act weak are looking to attract a novice or weak buyer to take advantage of.
4) seller has no or very limited knowledge about the coins he is selling, if you don't know what you are selling why do you have the item in the first place, did you steal it, etc.  
5) seller wants to be paid with western union, cash in the mail or wire transfer, does not accept PayPal. I do 99% of my business using checks and wire, but those that I am buying from or selling to trust me so neither one of us want Paypal to steal 3%-4% from our collective pockets.  If a buyer insist on using PayPal with the claim they want to protect themselves, I tell them to buy elsewhere and come back in the future when you are comfortable sending a check or wire.
6) seller has been accused of shipping empty boxes, has lawsuits against or has history of bad checks.
7) seller violates rules of forum or website auction.

It only takes 1 of the above red flags for me to avoid doing a transaction, when you first posted you nailed 6 red flags out of 7, all you were missing was western union or cash in mail as your desired payment type.

In January of 2008 a seller with no experience of selling on eBay posted some coins on eBay, he wanted to sell to pay medical bills, he preferred selling off eBay with either check or PayPal payment. I really wanted his coins, so I bought few pieces from him on eBay and asked him to send me his number in the package.  After receiving the coins I called him and to earn my trust he sent me a picture of his registry set with his phone in the pictures connected to my call. Right away I knew he was legit and he did transactions with many of the top eBay sellers of Chinese coins and had receipts to prove it, after the call I started sending him $10-30k a month by wire and check to buy out his collection of the top registry set for gold pandas.

The point is red flags can turn to green flags if both parties are honest and serious about developing a relationship.  Now that I am reminded of this story, I will seek him out when I visit long beach in June, after all he did give me the honor of the top registry set for each size for a few years, then in 2011 an aggressive band of 5 unique collectors starting buying me out of my 70s and at the end of 2011 they were the kings of the NGC registry, plus I don't like all the serial numbers of my sets disclosed publicly on the registry which is an requirement to win the award.


Offline silverpv

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Re: Where to sell other than eBay and this forum?
« Reply #6 on: May 03, 2016, 01:08:34 PM »
If I were in your position I would reconsider selling on eBay with restriction of German address only.  Ebay is the best venue to sell the type of coins you have, which are only bought by collectors and need to be exposed to many buyers. 

Suppose you have ten coins to sell that are worth $200 each, a coin shop might offer you $400 for the entire lot if you are lucky, at coin show with a dealer specializing in Chinese coins might offer you $800 for the entire lot, while on Ebay if you price the coin at $180, you will net at least $1500 after fees and shipping. Even if 1-2 buyers scam you, you will net still around $1200 which is 50% better than $800 you could get elsewhere.  What is more is once you establish credibility on eBay the risk of being scammed goes down dramatically. 

You are new at this and over the years I have seen many newbies try to sell coins on this forum, eBay and via email.  This is what I have concluded over the years to protect myself from being scammed.

Red flags, sellers to avoid:
1) seller is new and doesn't have history of selling coins.  There is 1995 5oz bimetal panda in eBay from a newbie seller in Greece, I would love to own the coin, but the auction is a scam.
2) seller is shipping international.  When a stranger ships internationally you are taking a lot of risk for loss.  The risk is even greater when the seller doesn't have a lot of experience shipping internationally.
3) seller motivation for selling are suspicious, medical bills, selling for a friend, father passed away, etc why disclose your motivation to sell is, it just makes your position weaker.  Those that act weak are looking to attract a novice or weak buyer to take advantage of.
4) seller has no or very limited knowledge about the coins he is selling, if you don't know what you are selling why do you have the item in the first place, did you steal it, etc. 
5) seller wants to be paid with western union, cash in the mail or wire transfer, does not accept PayPal. I do 99% of my business using checks and wire, but those that I am buying from or selling to trust me so neither one of us want Paypal to steal 3%-4% from our collective pockets.  If a buyer insist on using PayPal with the claim they want to protect themselves, I tell them to buy elsewhere and come back in the future when you are comfortable sending a check or wire.
6) seller has been accused of shipping empty boxes, has lawsuits against or has history of bad checks.
7) seller violates rules of forum or website auction.

It only takes 1 of the above red flags for me to avoid doing a transaction, when you first posted you nailed 6 red flags out of 7, all you were missing was western union or cash in mail as your desired payment type.

In January of 2008 a seller with no experience of selling on eBay posted some coins on eBay, he wanted to sell to pay medical bills, he preferred selling off eBay with either check or PayPal payment. I really wanted his coins, so I bought few pieces from him on eBay and asked him to send me his number in the package.  After receiving the coins I called him and to earn my trust he sent me a picture of his registry set with his phone in the pictures connected to my call. Right away I knew he was legit and he did transactions with many of the top eBay sellers of Chinese coins and had receipts to prove it, after the call I started sending him $10-30k a month by wire and check to buy out his collection of the top registry set for gold pandas.

The point is red flags can turn to green flags if both parties are honest and serious about developing a relationship.  Now that I am reminded of this story, I will seek him out when I visit long beach in June, after all he did give me the honor of the top registry set for each size for a few years, then in 2011 an aggressive band of 5 unique collectors starting buying me out of my 70s and at the end of 2011 they were the kings of the NGC registry, plus I don't like all the serial numbers of my sets disclosed publicly on the registry which is an requirement to win the award.


Very concise recommendations. For the NGC registry set, I did not think the certifcate numbers were made public, only the coins. The certs were just required to ensure you own the coin and not re-used by another member.

Offline KeyDate1/2ozPandas

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Re: Where to sell other than eBay and this forum?
« Reply #7 on: May 03, 2016, 01:16:17 PM »
You are right, they no longer display serial numbers.  I wonder when they made that change.   Guess it is time for me to get back to updating my registry sets.

Offline Pandora

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Re: Where to sell other than eBay and this forum?
« Reply #8 on: May 03, 2016, 04:12:52 PM »
...then in 2011 an aggressive band of 5 unique collectors starting buying me out of my 70s and at the end of 2011 they were the kings of the NGC registry...

Who were they..Some names please, Arif  :biggrin:

Offline poconopenn

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Re: Where to sell other than eBay and this forum?
« Reply #9 on: May 03, 2016, 07:58:41 PM »
Im trying to help a friend sell some Modern Chinese Coins (MCC) but have a bad experience with eBay since buyer claimed he only got an empty box and eBay sided with him!  Also, since I dont have enough post and still a newbie I cannot post on this forum classified.  Anyhow, if anyone can help that would be appreciated, danke.

What is your eBay ID?

Offline KeyDate1/2ozPandas

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Re: Where to sell other than eBay and this forum?
« Reply #10 on: May 03, 2016, 11:32:24 PM »
Thanks silverpv you got me back in the registry game (+1) after a few years off.  I am going to try to get back to my former 2010 glory, it may take a few years now that my submission volume is only 10% of what it used to be and NGC is very tough on grades. 

Pandora, only PandaHavles (?), Russ736 (1/4) and Obsidian (1/10) are on this forum.  I think the guy that does 1/20 is also here, I just can't remember his screen name.

Offline silverpv

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Re: Where to sell other than eBay and this forum?
« Reply #11 on: May 04, 2016, 12:22:50 AM »
Thanks silverpv you got me back in the registry game (+1) after a few years off.  I am going to try to get back to my former 2010 glory, it may take a few years now that my submission volume is only 10% of what it used to be and NGC is very tough on grades.  

Be gentle... I'm number 3 in 1/10..

Offline KeyDate1/2ozPandas

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Re: Where to sell other than eBay and this forum?
« Reply #12 on: May 05, 2016, 01:34:11 AM »
What is your eBay ID?

Poco, looks like you found the check-mate move.

He has been active since you posted your question, yet no response, another red flag, but then again I was done 6 flags earlier. 

Offline PandaBear

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Re: Where to sell other than eBay and this forum?
« Reply #13 on: May 05, 2016, 07:10:41 AM »
eBay ID loktou0309

The empty box incident happened in March 2012.  I didnt want to pay for some BS so they debit and closed my account as I didnt want the hassle I just left it as I had alot on my plate at the time due to family obligations and Church.  Anyways I no longer use eBay no more. 

What is your eBay ID?


Offline KeyDate1/2ozPandas

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Re: Where to sell other than eBay and this forum?
« Reply #14 on: May 05, 2016, 09:04:14 AM »
You have a long history of transactions prior to the bad transaction, it is best to try eBay to build your credibility again. I know it is a lot of work to list in eBay, but when you don't have a history of selling coins it is hard to convince strangers to buy from you.

Over the years I have seen several of our forum members get scammed because the market was very hot and scammers knew this and convinced people to send money without any eBay profile to check or references.  When you selling items over $100 it is all about providing trust and demonstrating experience that you know what you are doing.

I am so careful now that I don't even buy coins from overseas buyers, too much can go wrong even when neither side has done anything wrong.  Even shipping to China this year has become very risky, a lot of issues with customs delay and misrouting of packages.