Did/Do you ever watch a coin on EBay...

[TonerGuy]

that the dealer/owner is asking a ridiculous amount for (which they will never get) just so if he ever comes to his senses and drops the price you can snatch it up ?

 

And is there an app for that ?

 

There are several toned Peace $ I would like to buy once the owner gets his head of out his spoon and lowers the price to a more realistic level but I hate having to "watch" the coin along with the 100 or so other coins I track regularly. Is there any iPhone app that checks EBay and can tell you when someone lowers a price of a BIN item ?

[Walkerfan]

If the coin is TOO unrealistic; I don't even bother to watch it, as dealers like that don't usually come around. I DO watch it if it is HIGH but not completely out of the ballpark. No, I've not heard of an app for that.

[coinman_23885]

that the dealer/owner is asking a ridiculous amount for (which they will never get) just so if he ever comes to his senses and drops the price you can snatch it up ?

 

And is there an app for that ?

 

There are several toned Peace $ I would like to buy once the owner gets his head of out his spoon and lowers the price to a more realistic level but I hate having to "watch" the coin along with the 100 or so other coins I track regularly. Is there any iPhone app that checks EBay and can tell you when someone lowers a price of a BIN item ?

 

Is there a point to all of the text that precedes the last sentence? It strikes me that the bulk of this post is a rant/complaint that a seller won't sell you coins at the price you want, and it is melodramatic fluff.

 

To answer your question, I am not aware of an app, but you can create custom lists in eBay. I hope that is helpful. Based on my experiences, if a seller is sticking by his or her price for a prolonged period of time and you are very far away, it is unlikely that a viable transaction will result. It might be worth making an offer or passing.

 

[RWB]

On rare occasion -- when it appears the coin has potential to be nice for its real value. I have a new app for a banana, but find it works as well on cucumber; not as easy to use on an apple or other fruit of that type.

[TonerGuy]

Is there a point to all of the text that precedes the last sentence? It strikes me that the bulk of this post is a rant/complaint that a seller won't sell you coins at the price you want, and it is melodramatic fluff.

 

To answer your question, I am not aware of an app, but you can create custom lists in eBay. I hope that is helpful. Based on my experiences, if a seller is sticking by his or her price for a prolonged period of time and you are very far away, it is unlikely that a viable transaction will result. It might be worth making an offer or passing.

 

I dont get upset about coins. And I dont contact sellers asking for lower prices. I dont usually negotiate on coins or anything that I buy. A buyer puts up a price and either I am willing to pay it or not.

 

But usually dealers and some collectors have little to no knowledge about the market for toners or they fall in love with their coins and think they are worth far more than they are and instead of letting the coin go to auction they sit on a price and inch it down dollar by dollar.

 

I actually think its funny what some of the sellers think their toned Peace $ are worth. Or the person paid too much and they are buried in the coin.

 

So instead of wasting my time and filling up my watch list I just wanted to know if someone created an app that automatically checks prices and gives an update when/if a price is lowered.

 

And if not.... does anyone know someone that makes iPhone apps ? I use to but he got out of the market and went into games instead.

[joeyuk]

I see sellers in my specialty who I think are only showcasing their coins. It is more ridiculous in my case where pops. are low only because few are sent in.

[jpcienkus]

Simple answer for me is yes. If the coin is a little high, my hope is to snatch it if lowered. On some of those types of listings, I've contacted the seller to see if they would accept a lower price. I've been successful only once.

 

For the listings that have sky high prices (based on HA auction archives and various price guides), I do watch them just to see if someone does buy it.

 

Edited to add:

 

On one occasion, the seller and I couldn't come to a price agreement, but I kept watching the commem. After the listing ended, it was re-listed, but about 10% higher than the listing I saw. Interesting strategy on the sellers part.

[wdrob]

 

And I dont contact sellers asking for lower prices. I dont usually negotiate on coins or anything that I buy. A buyer puts up a price and either I am willing to pay it or not.

 

Even when there is a "Best Offer" attached to the asking price?

 

The only time I ever pay what the person is asking for it is when there are 6, 8, or more folks watching it and trying to decide if they want to buy it. If it is something I want then I will forgo the negotiations and buy it out from under the indecisive shoppers.

 

 

[coinman_23885]

But usually dealers and some collectors have little to no knowledge about the market for toners or they fall in love with their coins and think they are worth far more than they are and instead of letting the coin go to auction they sit on a price and inch it down dollar by dollar.

 

I actually think its funny what some of the sellers think their toned Peace $ are worth. Or the person paid too much and they are buried in the coin.

 

Or the seller might very well know the market and simply be testing the waters. Without a specific coin in mind, I can think of at least four rainbow toned peace dollars that sold for ridiculous (in my opinion) sums in the last year or so, including some by no reserve auctions in excess of the $1500 and often much more than that. The prices may very well not be reproducible, but given some of the prices as of late, I cannot necessarily blame the seller for trying. I suspect the seller of the coins you might have in mind might be aware of those, and hoping to replicate the results. Also, buying prices aren't necessarily representative of asking prices so we really have no idea how much room the seller might actually have.

 

Another possibility is that the seller likes the coin and will happily sit on the piece if it doesn't sell. In short, I think you assume too much.

[copper toning]

I have listed coins for ridiculous money before simply because I would sell it, but would rather not. I usually do this with a few coins I want to sell along with it that are priced fair. If the moon money coin sells I pull the rest or vice versa.

 

I have sold the ridiculous coin on more than one occasion. Just saying.

[TonerGuy]

 

Even when there is a "Best Offer" attached to the asking price?

 

The only time I ever pay what the person is asking for it is when there are 6, 8, or more folks watching it and trying to decide if they want to buy it. If it is something I want then I will forgo the negotiations and buy it out from under the indecisive shoppers.

 

 

I guess it depends on the asking price. If someone is asking $1500 for toned coin thats at best a $500 coin, I dont bother. There really is no reason to.

 

I get why collectors/dealers jack up the price on their coins though. The reason isnt really that important, it was just an aside.

 

I just want an easy, time saving way to track coins on EBay that might eventually renter the stratosphere in order to have a chance at being sold/bought.

 

Looks like there might be a market for such an app.

 

 

[wdrob]

 

OK. I fully understand that and agree; why even bother.

 

I don't even think an app would help me. I have put items on my watch list, went off and got involved in something else with the family only to come back later and realize that the piece I was very interested in (if it were to stay in the vicinity of where I was comfortable paying) sell for less than I would have paid. That is aggravating.

 

 

[World Colonial]

Can't answer your question about an IPhone app because I have never owned one.

 

Otherwise, yes, I do watch coins on eBay, even if the ask price is absurd as long as it is one that I wuld like to buy or just see if it sells. I don't track that many items anyway because the supply of the coins on eBay which I really want is low or very low.

 

My opinion is that many of the sellers of the coins I collect are willing to sit on the coin indefinitely, probably because they don't need the money.

 

Think of it this way way, the opportunity cost with ZIRP is effectively zero, so unless you are going to speculate in the financial markets with this money which usually doesn't make any sense given the nominal amounts, why not try to sell it to a greater fool?

[Raisethis2]

I know a guy who's in the App business. I'll ask him about it and see if he's interested.

[TonerGuy]

I double checked the apps for EBay and while there are a ton of apps for sellers there really is a limited amount for buyers...

 

Basically for buyers there are just sniping apps/programs and thats about it.

 

OK. I fully understand that and agree; why even bother.

 

I don't even think an app would help me. I have put items on my watch list, went off and got involved in something else with the family only to come back later and realize that the piece I was very interested in (if it were to stay in the vicinity of where I was comfortable paying) sell for less than I would have paid. That is aggravating.

 

 

Why dont you think it would help if you find that situation aggravating ? The app would give you a cell phone notification when the price was lowered into a range you define.

 

So lets say the coin is priced at $1000. And you are willing to pay $600. If the seller lowers the price to $575.00 you would get a notification on your phone that the BIN price is lower than your Willing to Buy price. (WTB) So if you're out at family dinner you dont miss the chance. Otherwise like you said, you come home from dinner and you see that the coin is already sold while you were out.

 

Can't answer your question about an IPhone app because I have never owned one.

 

Otherwise, yes, I do watch coins on eBay, even if the ask price is absurd as long as it is one that I wuld like to buy or just see if it sells. I don't track that many items anyway because the supply of the coins on eBay which I really want is low or very low.

 

My opinion is that many of the sellers of the coins I collect are willing to sit on the coin indefinitely, probably because they don't need the money.

 

Think of it this way way, the opportunity cost with ZIRP is effectively zero, so unless you are going to speculate in the financial markets with this money which usually doesn't make any sense given the nominal amounts, why not try to sell it to a greater fool?

 

I agree when it comes to collectors selling coins. But I would think that in regards to dealers they want to move inventory to free up money to buy new inventory. At least the smart ones do.... so they cant sit on coins indefinitely.

 

I know a guy who's in the App business. I'll ask him about it and see if he's interested.

 

Very cool. Thank you.

[MarkFeld]

I double checked the apps for EBay and while there are a ton of apps for sellers there really is a limited amount for buyers...

 

Basically for buyers there are just sniping apps/programs and thats about it.

 

OK. I fully understand that and agree; why even bother.

 

I don't even think an app would help me. I have put items on my watch list, went off and got involved in something else with the family only to come back later and realize that the piece I was very interested in (if it were to stay in the vicinity of where I was comfortable paying) sell for less than I would have paid. That is aggravating.

 

 

Why dont you think it would help if you find that situation aggravating ? The app would give you a cell phone notification when the price was lowered into a range you define.

 

So lets say the coin is priced at $1000. And you are willing to pay $600. If the seller lowers the price to $575.00 you would get a notification on your phone that the BIN price is lower than your Willing to Buy price. (WTB) So if you're out at family dinner you dont miss the chance. Otherwise like you said, you come home from dinner and you see that the coin is already sold while you were out.

 

Can't answer your question about an IPhone app because I have never owned one.

 

Otherwise, yes, I do watch coins on eBay, even if the ask price is absurd as long as it is one that I wuld like to buy or just see if it sells. I don't track that many items anyway because the supply of the coins on eBay which I really want is low or very low.

 

My opinion is that many of the sellers of the coins I collect are willing to sit on the coin indefinitely, probably because they don't need the money.

 

Think of it this way way, the opportunity cost with ZIRP is effectively zero, so unless you are going to speculate in the financial markets with this money which usually doesn't make any sense given the nominal amounts, why not try to sell it to a greater fool?

 

I agree when it comes to collectors selling coins. But I would think that in regards to dealers they want to move inventory to free up money to buy new inventory. At least the smart ones do.... so they cant sit on coins indefinitely.

 

I know a guy who's in the App business. I'll ask him about it and see if he's interested.

 

Very cool. Thank you.

 

 

How often do you think that - the price being lowered enough to make a difference - would happen? My guess is less than 5% of the time.

 

 

Also, with respect to dealers wanting or needing to turn inventory (or non-dealers holding out for an unrealistically high price) - don't underestimate how long a seller will sit on a coin, looking for way too much money. And it doesn't matter whether the seller knows he is asking moon money, or is unknowingly buried in the coin and doesn't realize he's asking moon money for it. The result is the same, either way.

[TonerGuy]

How often do you think that - the price being lowered enough to make a difference - would happen? My guess is less than 5% of the time.

 

 

Also, with respect to dealers wanting or needing to turn inventory (or non-dealers holding out for an unrealistically high price) - don't underestimate how long a seller will sit on a coin, looking for way too much money. And it doesn't matter whether the seller knows he is asking moon money, or is unknowingly buried in the coin and doesn't realize he's asking moon money for it. The result is the same, either way.

 

As to your first question, I guess the answer depends on the starting price. It might only happen in 5% of the cases where a dealer/collector has an unrealistic starting price but it might happen regularly for slightly overpriced coins. In that case I can see it happening regularly.

 

You are only looking at the example I offered. There are many more coins that might only be 5-20% overpriced that will come down in price eventually to move inventory.

 

And the second part of your comment is exactly why I think an app would work. A coin might be overpriced for years. And then all of a sudden the price drops for some reason only known to the seller. The app would allow you to input that coin into your watch list and only when it does come down will you be notified. So you can save the coin and then forget about it. Even if it drops in price 3 yrs later - you still get a notice to your cell phone.

 

Thats why I hate using my watch list on EBay for coins like that. I try to only use that feature to watch coins that are up for auction not BINs that are priced high. Otherwise I end up watching hundreds of coins and it gets unwieldy.

[MarkFeld]

How often do you think that - the price being lowered enough to make a difference - would happen? My guess is less than 5% of the time.

 

 

Also, with respect to dealers wanting or needing to turn inventory (or non-dealers holding out for an unrealistically high price) - don't underestimate how long a seller will sit on a coin, looking for way too much money. And it doesn't matter whether the seller knows he is asking moon money, or is unknowingly buried in the coin and doesn't realize he's asking moon money for it. The result is the same, either way.

 

As to your first question, I guess the answer depends on the starting price. It might only happen in 5% of the cases where a dealer/collector has an unrealistic starting price but it might happen regularly for slightly overpriced coins. In that case I can see it happening regularly.

 

You are only looking at the example I offered. There are many more coins that might only be 5-20% overpriced that will come down in price eventually to move inventory.

 

And the second part of your comment is exactly why I think an app would work. A coin might be overpriced for years. And then all of a sudden the price drops for some reason only known to the seller. The app would allow you to input that coin into your watch list and only when it does come down will you be notified. So you can save the coin and then forget about it. Even if it drops in price 3 yrs later - you still get a notice to your cell phone.

 

Thats why I hate using my watch list on EBay for coins like that. I try to only use that feature to watch coins that are up for auction not BINs that are priced high. Otherwise I end up watching hundreds of coins and it gets unwieldy.

 

Yes, I was asking and commenting based on the example you had provided: "So lets say the coin is priced at $1000. And you are willing to pay $600." So I didn't think you were talking about "slightly overpriced" coins.

 

As for the part you posted (copied below) - I can't see that happening to the extent that it would matter, even 5% of the time, either.

 

"A coin might be overpriced for years. And then all of a sudden the price drops for some reason only known to the seller."

[coinman_23885]

Also, with respect to dealers wanting or needing to turn inventory (or non-dealers holding out for an unrealistically high price) - don't underestimate how long a seller will sit on a coin, looking for way too much money.

 

I agree with this. Tonerguy, if it makes you feel better, there was a toned Peace Dollar on eBay that sold about a year ago that I absolutely loved and it reminded me very much of the bag toned piece that I purchased from Shane, but it had a slightly different color progression. I offered an incredibly large sum of money for the coin -- most would call stupid money for it, but I really wanted it. I confirmed with Shane (who had sold several in the preceding months) that my offer was more than fair at the least. The seller turned down my offer and held firm at $1000 more than I was willing to pay. He sat on the coin for several months and eventually did get several hundred dollars more than my offer, to my surprise.

 

The market might be very thin in the very high price range, but based on the four transactions I discussed earlier, which included the one above, there is a market even if it is quite limited at those levels. There are dealers and collectors who will hold out.

[coinman_23885]

I usually do this with a few coins I want to sell along with it that are priced fair. If the moon money coin sells I pull the rest or vice versa.

 

You also bring up a good point about marketing - some sellers will include nicer coins at higher prices to draw attention to other materials. It is not always a winning strategy and can turn away some buyers, but it does seem to work for some.

 

I have sold the ridiculous coin on more than one occasion. Just saying.

 

Me too.

[wdrob]

OK. I fully understand that and agree; why even bother.

 

I don't even think an app would help me. I have put items on my watch list, went off and got involved in something else with the family only to come back later and realize that the piece I was very interested in (if it were to stay in the vicinity of where I was comfortable paying) sell for less than I would have paid. That is aggravating.

 

 

Why dont you think it would help if you find that situation aggravating ? The app would give you a cell phone notification when the price was lowered into a range you define.

 

So lets say the coin is priced at $1000. And you are willing to pay $600. If the seller lowers the price to $575.00 you would get a notification on your phone that the BIN price is lower than your Willing to Buy price. (WTB) So if you're out at family dinner you dont miss the chance. Otherwise like you said, you come home from dinner and you see that the coin is already sold while you were out.

 

I should have been more precise with my answer.

 

The situation you described where a coin was sitting on the edge of the moon, I just walk on by and very rarely will ever go back to their listings. That is why I addressed that as "OK. I fully understand that and agree; why even bother."

 

I went on further to describe an auctioned item versus a buy it now so I failed to stay within your parameters.

 

[jamesf-migration]

That's not good I

Just offer you're coins at a fair price. Try and make a profit but don't screw people.

The type of attitude you have prevents young collectors from joining and enjoying coin collecting

[coinman_23885]

That's not good I

Just offer you're coins at a fair price. Try and make a profit but don't screw people.

The type of attitude you have prevents young collectors from joining and enjoying coin collecting

 

There is a difference between misrepresenting a coin, it's value, or representing it as a wise investment and asking a high price. The former are unethical and illegal, the latter not necessarily so. Not everyone works on a 10% margin. And I don't see any harm in asking a high price, especially for coins with limited pricing information or when there is more than one transaction to suggest a market at higher levels even if it is thinly capitalized and limited. The prices might not be reproducible or they could be reproducible. You won't get it unless you ask for it.

 

I would also like a definition of what constitutes a "fair price" and who do we empower to make those decisions? Is it not possible for reasonable minds to differ? And what about cases where experts disagree such as whether the 1914/3 Buffalo nickel is a true over date and the pricing ramifications? What about coins that are identical that sell for drastically different prices within a short time frame? Which one is the "correct" or "fair" price? How do we adjust for eye appeal and other factors?

 

I think the answer to these questions is that the market gets to decide within the context of two consenting adults, with full and accurate images and representations of the item offered for sale, and that this decides what the piece is worth. And if the seller is unrealistic, he or she will either keep the coin or lower until the market will withstand the asking price.

[AHFreak]

Well said coinman.... I wish this was something more of us understood...

[World Colonial]

Well said coinman.... I wish this was something more of us understood...

 

Absolutely. Nobody is entitiled to buy any coin at a "fair price". Don't like the price, go buy something else.

[World Colonial]

That's not good I

Just offer you're coins at a fair price. Try and make a profit but don't screw people.

The type of attitude you have prevents young collectors from joining and enjoying coin collecting

 

The biggest obstacle to what you are complaining about isn't the failure of sellers to offer coins at a fair price, but that the current prices of so many US coins are disproportionately absurd. It is something I have mentioned in my posts on numerous occassions but most don't want to hear it.

[TonerGuy]

The biggest obstacle to what you are complaining about isn't the failure of sellers to offer coins at a fair price, but that the current prices of so many US coins are disproportionately absurd. It is something I have mentioned in my posts on numerous occassions but most don't want to hear it.

 

Agreed. I am often shocked at what the market has done to the prices of US coins in general and more specifically toned coins. Sometimes the prices asked for and paid are not commensurate with true rarity or difficulty in locating. This is why I laugh at some prices asked by sellers for toned Peace $. B and C color coins are being sold as A color.

 

This is why I would never buy an expensive toned Morgan. I have no idea what A color is - since I havent spent enough time studying the market. Im relying on the experience and honesty of the seller in the fact that they are telling me its an A coin. Most sellers over hype their coins. And if most of the A coins are locked away in collections how are you even able to know you are buying a B coin ? It prevents an honest comparison.

[MarkFeld]

That's not good I

Just offer you're coins at a fair price. Try and make a profit but don't screw people.

The type of attitude you have prevents young collectors from joining and enjoying coin collecting

 

The biggest obstacle to what you are complaining about isn't the failure of sellers to offer coins at a fair price, but that the current prices of so many US coins are disproportionately absurd. It is something I have mentioned in my posts on numerous occassions but most don't want to hear it.

 

I disagree. The original subject presented in this thread pertained to:

 

"that the dealer/owner is asking a ridiculous amount for (which they will never get) "

 

That is not the same thing as your "the prices of so many US coins are disproportionately absurd".

 

The former deals with sellers asking prices that are enough over current market, such that the coins will not be sold at those levels. The latter, from you, on the other hand, is in regards to current market prices being high on a relative basis. And whether the current market price of many US coins is high on a relative basis, compared to world coins, is a separate matter.

[World Colonial]

I was answering the last sentence in the post I quoted. And yes, my comment is relevant to it.

 

Overcharging by a low percentage of sellers is a much smaller problem than the one I am talking about. If you don't want to believe that the affordability and current price levels of US coins is an issue for both current and potential US coin collectors, I think you are wrong. It obviously isn't an issue for the majority, but I believe it should be apparent it is for a substantial minority.

 

My opinion isn't because I don't collect US coins anymore. What I collect really has nothing to do it. Its because I believe if anyone looks at the subject objectively, it should be apparent that affordability is an issue for a large and increasing percentage of US coin collectors. The range of options which the "average" collector can buy today versus the 1970's when I stared collecting has definitely shrunk which requires more and more collectors to go lower and lower "down the food chain".

[PennyGuy]

Almost two years ago I bought a R-10 store card that had been listed on the bay with a high BIN for over a year and a half. I kept updating my watch list and finally the seller relisted it as a auction with a reasonable opening bid. The auction ended with my bid as the only bid. My guess is that it had been listed for so long that other token buyers just ignored it.

 

The rest of the story is that I missed the ending of the Heritage auction where the eBay seller bought it, so I knew what he had paid. He made a little money on it, but not much considering how long he had to hold it.