( 
)I've been browsing around eBay's US Coin category for a while now, and I've been seeing the same coins listed over and over again. I keep asking myself "why," and then it hits me like a ton of bricks: the seller may not know what true value really is. So I decided to make this short guide today to help people better understand how exactly coins should be sold.
1. Use The Blue and Red Books.
They may not seem like much to the average Joe, but these books can really help when deciding how to set a price for your coins.
The Red Book tells you how much you can expect to pay for a coin. This is information can be useful when determining starting price and reserve.
The Blue Book tells you how much you can expect a dealer to pay you for your coin. The Blue Book can be used for the same things as the Red Book, but with added bonuses: it helps you when deciding what to bid for a coin and what coins are over-priced (it happens!). (If you do find a coin that may be over-priced, send the seller a kind note asking what’s up. It may be that he was quoted that price by the PCGS.)
2. Don’t Set a Reserve (Unless The Books Say To)
This is the part where the book comes in handy. The hypothetical scenario is that you want to sell a wheat penny that has a pretty common date. What mistake can you make? Well, one of them is setting a reserve. Most wheat pennies are common finds and there are only a few that have mega values, which are worth the reserve. The same goes with most other pre-war coins. Most are actually worth about face value - 15¢. Don’t set a high reserve for a coin that isn’t worth much. Sentimental value doesn’t play a part here. Case and point: if you’re going to set a high reserve, you’re not ready to let go of it.
There is an appropriate time to set a reserve on low-value coins: when they are sold in bulk (over 100).
3. Work On Your Title
I’ll cut to the chase on this one. Things like “L@@K AT THIS! RARE!” don’t attract smart buyers. By smart, I mean educated. Going back to the Blue and Red books, next to each coin is listed the production amount. 34 million isn’t exactly rare. When I see things like this, I check to see if it really is a rare find. Usually it isn’t, and it can tell you a lot about the seller’s knowledge about his or her products.
4. Offer Free Shipping
This one is self-explanatory. Who doesn’t love free shipping? Charging for shipping is appropriate when you are selling a bulk of coins weighing over 1 ounce.
In short, selling coins can be a fun activity as long as it’s done right: no reserves for low value coins; make your title just right; offer free shipping for orders weighing less than 1oz; and use the books. You’ll do just fine if you follow these tips.
1. Use The Blue and Red Books.
They may not seem like much to the average Joe, but these books can really help when deciding how to set a price for your coins.
The Red Book tells you how much you can expect to pay for a coin. This is information can be useful when determining starting price and reserve.
The Blue Book tells you how much you can expect a dealer to pay you for your coin. The Blue Book can be used for the same things as the Red Book, but with added bonuses: it helps you when deciding what to bid for a coin and what coins are over-priced (it happens!). (If you do find a coin that may be over-priced, send the seller a kind note asking what’s up. It may be that he was quoted that price by the PCGS.)
2. Don’t Set a Reserve (Unless The Books Say To)
This is the part where the book comes in handy. The hypothetical scenario is that you want to sell a wheat penny that has a pretty common date. What mistake can you make? Well, one of them is setting a reserve. Most wheat pennies are common finds and there are only a few that have mega values, which are worth the reserve. The same goes with most other pre-war coins. Most are actually worth about face value - 15¢. Don’t set a high reserve for a coin that isn’t worth much. Sentimental value doesn’t play a part here. Case and point: if you’re going to set a high reserve, you’re not ready to let go of it.
There is an appropriate time to set a reserve on low-value coins: when they are sold in bulk (over 100).
3. Work On Your Title
I’ll cut to the chase on this one. Things like “L@@K AT THIS! RARE!” don’t attract smart buyers. By smart, I mean educated. Going back to the Blue and Red books, next to each coin is listed the production amount. 34 million isn’t exactly rare. When I see things like this, I check to see if it really is a rare find. Usually it isn’t, and it can tell you a lot about the seller’s knowledge about his or her products.
4. Offer Free Shipping
This one is self-explanatory. Who doesn’t love free shipping? Charging for shipping is appropriate when you are selling a bulk of coins weighing over 1 ounce.
In short, selling coins can be a fun activity as long as it’s done right: no reserves for low value coins; make your title just right; offer free shipping for orders weighing less than 1oz; and use the books. You’ll do just fine if you follow these tips.
Guide created: 16/05/12
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