Where can we sell raw coins now? 1 1

[mtnstyne]

I was just moved to eBays managed payments. I can no longer sell anything in the coins and paper money section so wondering what others may have figured out. Sorry if this has already been covered but I searched and couldn't find the answer..

[bsshog40]

Can't you back out of the managed payment program? I don't sell so I don't know. 

[mtnstyne]

2 minutes ago, bsshog40 said:

Can't you back out of the managed payment program? I don't sell so I don't know. 

Nope. Will be mandatory for all sellers in 2021.

[bsshog40]

7 minutes ago, mtnstyne said:

Nope. Will be mandatory for all sellers in 2021.

That sux! Ebay is sure to change up this policy or they are going to loose A LOT of revenue!

[mtnstyne]

1 minute ago, bsshog40 said:

That sux! Ebay is sure to change up this policy or they are going to loose A LOT of revenue!

I sold about $2k last month and now I can't list anything. Just wondering what other options may be emerging as this takes place. It is a real kick in the teeth.

[Coinbuf]

This has been discussed quite a few times ATS, I do not recall anyone being forced to move to the managed pmt system as of yet.  I would call and talk to a supervisor at ebay, a very long wait I should expect; and see if you can be moved back.  From what I have read on those threads ebay is supposed to be working on a solution and not move those who sell in the coin and paper money categories into the managed pmt system until a work around can be found.  Sounds like you must have fell through the cracks, perhaps you needed to respond to some communication and did not?  At any rate I hope you can work something out, I know a few sellers ATS have been exploring things like Instagram as possible backups. 

Edited to add:  There are over 1.1 million listings under U.S. coins as of right now so it seems very clear that not all sellers are being moved to the managed pmt system just yet and coin sales are happening on ebay still.

Edited December 15, 2020 by Coinbuf

[Conder101]

I believe if you set up a new selling account you have to go to the managed payment system.  If you have an existing selling account you don't.  But they apparently do try to get you to switch over, and once you do you are locked out of selling coins and can't go back.  Now this will be a problem if you sell other things besides coins because those other things will have to go through th managed payments and once you switch over to sell those things you can't sell coins any more.

[Zebo]

8 hours ago, mtnstyne said:

I sold about $2k last month and now I can't list anything. Just wondering what other options may be emerging as this takes place. It is a real kick in the teeth.

Between eBay and PayPal - they both are making things more difficult in my opinion. I've heard Instagram might be an alternative, but haven't really looked into it. 

[Zebo]

3 hours ago, Conder101 said:

I believe if you set up a new selling account you have to go to the managed payment system.  If you have an existing selling account you don't.  But they apparently do try to get you to switch over, and once you do you are locked out of selling coins and can't go back.  Now this will be a problem if you sell other things besides coins because those other things will have to go through th managed payments and once you switch over to sell those things you can't sell coins any more.

I had the option a while back and declined managed payments. While I haven't listed anything in a while, I still have items listed and recently sold one without issue.

[Alex in PA.]

42 minutes ago, Zebo said:

Between eBay and PayPal - they both are making things more difficult

Exactly.  I received a refund 8 days ago and PayPal won't release the money.  Time to let go I guess.  And EBay without coins?  How crazy is that?

[jtryka]

Pardon my ignorance, but what is the managed payments system?  I haven't sold on eBay for a long time, but will buy occasionally.

[Henri Charriere]

Raw coins... yeah, I remember them.  I am going to go out on a limb here and suggest the problem with selling them started with misrepresentations being made aggravated by poor photography, switcheroos, unsuspecting consumers (many with inadequate grading knowledge) deceitful sellers, outright thieves, problems with returns, hour-long waits to speak to the single available teenager tasked with resolving PayPal disputes using inadequate logarithms from Nebraska -- and the collection now of sales tax.  Do you know the sales tax for each of the fifty states?  Of course not.  Why would you?  The problem has gotten so tedious what with registering requirements and paperwork that the average person will take the path of least resistance and resort to selling their goods (raw coins and refined antiques) at a deep discount to roadside yard selling stands and dealers. The high cost of postage and all that it entails, has obliterated profit margins and put a real damper on those who would pursue a hobby with some measure of satisfaction.  At my advanced age, I will likely wind up giving away my treasures to some wide-eyed children and divesting myself of an organized collection with the assistance of an auction house.  I never thought I would live long enough to see someone post a question like that. What a shame!

[Coinbuf]

2 hours ago, jtryka said:

Pardon my ignorance, but what is the managed payments system?  I haven't sold on eBay for a long time, but will buy occasionally.

Managed payments allows for more ways to pay such as apple pay and google pay and it still includes paypal as a payment option.  The issue; as I recall, is that whomever ebay is using to manage these payments has an issue with accepting payments for money, coins or paper money.  Sellers of coins and paper money should have been notified and have the option of not switching over to the new managed payments until this could be sorted out.

Actually there are a number of items that are not allowed to be sold under the new system, here is a link to those as listed by ebay. 

Unauthorized items

[heyimderrick]

Reddit has a very active precious metals and coin community. I sell mostly through r/pmsforsale and r/coins4sale, and then occasionally through TheSilverForum.com. Most buyers/sellers use Zelle, Venmo, and other fee-free payment options, or will offer PayPal Goods and Services for +3% fee. 

[mtnstyne]

Well, reactivated my wife's old eBay account and made a test listing that worked. So now I have a new account with zero feedback but at least if I need to sell some stuff off I can still list them. Maybe I can hold on to this account until they sort out the managed payment business. It's a terrible system so hopefully they will figure out they need to make improvements. When selling previously payment went directly into your PayPal account and you could use it. Now it takes about a week to get your money even though you have to pay their fees, shipping, insurance, etc...prior to getting paid. Etsy has their own payment processing but when you pay for shipping it comes out of your payment account so you don't have to pay out of pocket and wait. 

[mtnstyne]

1 hour ago, heyimderrick said:

Reddit has a very active precious metals and coin community. I sell mostly through r/pmsforsale and r/coins4sale, and then occasionally through TheSilverForum.com. Most buyers/sellers use Zelle, Venmo, and other fee-free payment options, or will offer PayPal Goods and Services for +3% fee. 

I will have to check that out. I've never been on Reddit so there will be a learning curve. 

 

[gmarguli]

4 hours ago, Coinbuf said:

Managed payments allows for more ways to pay such as apple pay and google pay and it still includes paypal as a payment option.  The issue; as I recall, is that whomever ebay is using to manage these payments has an issue with accepting payments for money, coins or paper money.  Sellers of coins and paper money should have been notified and have the option of not switching over to the new managed payments until this could be sorted out.

Managed payments will soon be eBay processing your credit card or debiting your bank account. They don't want an outside entity getting a cut to process the payment, so eBay will begin handling them. Same way you buy on Amazon from an independent seller, but Amazon handles the payment processing.

I was flat out told that PayPal will not be available to use once they are fully switched over to managed payments. 

Not only did eBay not tell coin sellers that they would be locked out of selling, but they actually encouraged them to switch. I got a call from them telling me of the low rates and to switch right away. "Any changes or drawbacks?"  Noooo.... Did a little research and found out that I'd be blocked from selling coins, which is the only thing I sell on eBay. F****** insufficiently_thoughtful_persons!!! I know several other coin-only sellers who got called also. 

Edited December 15, 2020 by gmarguli

[Henri Charriere]

4 hours ago, Coinbuf said:

Managed payments allows for more ways to pay such as apple pay and google pay and it still includes paypal as a payment option.  The issue; as I recall, is that whomever ebay is using to manage these payments has an issue with accepting payments for money, coins or paper money.  Sellers of coins and paper money should have been notified and have the option of not switching over to the new managed payments until this could be sorted out.

Actually there are a number of items that are not allowed to be sold under the new system, here is a link to those as listed by ebay. 

Unauthorized items

This issue was brought up on another thread recently and I didn't pay it no mind figuring it will all be sorted out eventually. But you've got to love this creative line, and I quote:

"When eBay manages the end-to-end payment experience...."

Come to think of it that experience approximates the sensation one feels when driving North from Jackson on Hway 49 to Yazoo City, MS.  One giant roller coaster ride that beats the Cyclone in New York's Coney Island. (Thanks for that quick-link!)

[Henri Charriere]

17 minutes ago, gmarguli said:

Managed payments will soon be eBay processing your credit card or debiting your bank account. They don't want an outside entity getting a cut to process the payment, so eBay will begin handling them. Same way you buy on Amazon from an independent seller, but Amazon handles the payment processing.

I was flat out told that PayPal will not be available to use once they are fully switched over to managed payments. 

Not only did eBay not tell coin sellers that they would be locked out of selling, but they actually encouraged them to switch. I got a call from them telling me of the low rates and to switch right away. "Any changes or drawbacks?"  Noooo.... Did a little research and found out that I'd be blocked from selling coins, which is the only thing I sell on eBay. F****** !!! I know several other coin-only sellers who got called also. 

Well, that changes everything and also explains why sellers, particularly outside the U.S., are quite candid in expressing their dissatisfaction with PayPal and the fees they charge for currency conversions -- and encourage bank wire transfers instead.

[Coinbuf]

I don't know if your aware of or have been to this site but Collective Coin does allow for buying and selling on its site.  More like the BST here as opposed to a platform like ebay but perhaps another outlet if you need it.

Collective Coin.

[Hoghead515]

The only reason I made an Ebay account was to buy coins. Ive bought very few other items. Not very many. But I've spent a whole lot of money on coins the past couple years. Getting closer and closer to time to close my account. If I need anything except coins ill just get it on my wife's Amazon account. 

Edited December 16, 2020 by Hoghead515

[mtnstyne]

There's no other site that has the exposure as eBay unfortunately. It's also the only one that has the feedback rating that I am aware of allowing buyers and sellers to know a persons past transaction success.

A few points on the new managed payments program. 

1) PayPal will still be allowed for buyers; however, the payment goes to eBay not the seller. eBay sits on the money for several days, then they take out their fees and send the remaining money to the buyers account which takes another several days. 

2) When you make a sale and it's time to ship, you will not have yet received any money from the sale. 

3) Although you can't use your PayPal account to receive the funds from sales, you have to use PayPal to pay for the shipping labels through eBays system. I do not know if they will change it so that the shipping costs will eventually come out of the money from the sale (like Etsy does), or it this is going to remain screwed up.

So they way a transaction works now. You make a sale and eBay gets paid (not you). You have to create a shipping label but no money has been sent to your PayPal so you have to add funds or use a credit card to pay for the shipping. Then you ship the item still not having actually been paid. Eventually eBay will release your money to your bank account. For this you save 2% in fees.