7 Useful Steps How to Sell Old Coins on eBay Philippines

How to sell old coins on eBay? Plenty of people love it and plenty of people hate it, but that can all agree that eBay is a major part of the coin market. The service provides opportunities for everyone from casual collectors to huge dealers to sell their items. 

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Is it Legal to Sell Coins on eBay?

Selling coins on eBay 2021 does not permit the sale of coins or paper money that are fraudulent or improperly described. 

Sellers who knowingly fail to disclose information about the authenticity of eBay sell coins or paper money, alterations to coins or paper money, or other information that might have a material impact on the coin or paper money value may become liable for an offense in the Philippines. Sellers will also be subject to eBay action as stated below. 

Can you sell old coins on eBay? Please see the Additional Information section below. Violations of this policy may result in a range of actions, including:

• Listing cancellation.
• Loss of eBay fees.
• Limits placed on account privileges.
• Loss of PowerSeller status.
• Account suspension.

How Long Does it Take to Sell a Coin on eBay?

Time between researching, pricing, photographing, listing, and shipping, a typical sale takes 45 to 60 minutes. Selling a collection or running an eBay business takes time. Consider what other activity you are willing to give up to get the time to sell.

Also, the time commitment means that you need to consider whether a sale is worth the effort. Spending an hour to earn $100 is definitely worth your time and spending an hour to earn $2 is definitely not. Decide on a dollar figure between these two numbers and pass on opportunities below this threshold.

How Do I Sell Coins on eBay?

Top selling coins on eBay? Selling coins on eBay is not difficult. Creating an accurate and quality eBay listing for your coins is essential in order to build a good reputation and realize top dollar for your coins. If done well, you will get more money for your coins on eBay than if you sell them at the local coin store or coin show.

How to sell old coins online? If you inherited a coin collection or are new to coin collecting,  you will want to spend some time learning about coins before you start to sell them. This will help you avoid some of the pitfalls that novice coin collectors make when selling the coins. Additionally, you will want to take the time to organize your coin collection before you start listing it for sale on eBay.

Related: Great Tips: How to Sell Art on eBay, Be Rich Artists!

Set up Your eBay and PayPal Accounts

Experts at eBay and PayPal have created these easy to follow step-by-step articles that will guide you through the process of how to become a first-rate eBay seller and verified PayPal member. After you get your account set up you will be ready to start selling coins on eBay so you get the most money for your eBay coins collectors.

Know What Coins You Are Selling

eBay old coins price list and need more coins wanted to sell? You need to identify the coin you are going to sell and get an approximate value of the coin’s wholesale price. The Blue Book and Coin Dealer Newsletter (aka, The Gray Sheet) give average prices that dealers are paying for U.S. coins. Wholesale prices are usually 50% – 70% of what is listed in the retail price guides such as the Red Book, and Coin Digest.

Detailed and Honest Descriptions

Look at your coin carefully and describe its condition in the description portion of your listing. If there are noticeable scratches, dents, surface damage or any other distracting characteristics, describing them accurately and honestly. 

Accurate descriptions will serve you in the long-run because buyers will know exactly what to expect when they receive their coin, and then they will leave you positive feedback.

Quality Photos of Your Coins

Nothing else leads to getting top-dollar for your coins more than quality and accurate photographs. Invest in a decent quality digital camera and learn how to photograph coins well. Poor quality photographs that are out of focus and scans that do not capture the true features of the coin will result in less than maximum bids on your coins.

eBay Auction vs. Buy It Now

There are two ways to list items on eBay auction style and Buy It Now.

Auction

Auction style listings allow sellers to set a beginning minimum bid and then allows potential buyers to bid on your items for up to 10 days. When the end of the auction is reached, you are obligated to sell the coin to the winning bidder. 

Be careful not to set the opening bid (or place a reserve) that is out of touch with what the market will bear. This will just cause people to pass over your coin and look somewhere else.

Buy It Now

Buy It Now listings allow you to list your coins indefinitely with a set price that a buyer will immediately pay if they want to purchase your coin. In my experience, auction style listings have achieved better results than Buy It Now listings.

Shipping Cost

In order to maximize the number of bids on your coins, offer “Free Shipping” on low value coins (less than $10-$20). For intermediate priced coins ($20-$200), a reasonable shipping fee that includes delivery confirmation and insurance. 

For coins priced over $200, you should ship them via insured registered mail with a shipping charge that accurately reflects the additional costs. If you make the shipping charge too expensive, buyers will pass over your coin and look for another item with a cheaper or free shipping charge.

Special Considerations for Shipping Coins

Although coins are made out of metal, surface damage can occur during shipping. To adequately protect the coins during shipping, place the coin in a non-PVC coin flip or securely mounted in a 2 x 2 cardboard holder. 

Since the environment can be extreme during shipping, use a plastic Ziploc bag to protect the coins against moisture. Place them in a padded envelope for an additional layer of protection. Never ship coins in a standard business envelope.

How Can I Increase My Chances of Selling on eBay?

Here some tips that you should know to increase your selling on eBay Philippines:

Understand How eBay Search Algorithm is Different and Unique

Each time you search for something online, you’re using a proprietary search algorithm. Google uses PageRank (named after Larry Page), Amazon uses A10, and eBay uses Cassini. There are many factors that go into mastering the Cassini search algorithm.

Simplify Keywords and Use Them Correctly

As with eBay, buyers tend to type in very specific keywords on eBay coin buyers. One of the easiest ways of doing keyword research is to pretend you’re the buyer and perform multiple searches for what’s in your inventory.

Be Generous in Uploading Images

You’re allowed up to 12 free images on each listing, so try and get as close to that number as you can. If you’re struggling to hit 12, aim for at least 8 images on each listing. Even if you don’t think your listing needs 8-12 images, it’s good for search results.

Offer Free Shipping Whenever Possible

More and more shoppers are adopting this mindset and you could be losing out on a growing customer base by not offering free shipping. If you’re absolutely unable to do so, okay, but there are so many ways to work the shipping costs into the product price that there are few reasons you shouldn’t be offering free shipping.

Entice Buyers with Promotions

Online buyers have so many tools to search and compare costs, so you need to grab their attention and keep it on your listing. Running promotions is one of the best ways of increasing visibility and sales.

Conclusion

Here some tip is to reprice your inventory so buyers always see the best prices. Because everything happens so quickly online, you could be losing out on valuable sales if you take this work don’t seriously.

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