Hot off the press! New Rules on E-bay

[e1cnr]

I don't think the reserve can be $2500 or higher - so they have to run them as true auctions with a start at something like $2499

 

or sell their valuable stuff somewhere else

 

I wonder what will happen if the value of gold goes over $2500/oz

 

 

no more raw gold ouncers?

 

what if they come with COA from US Mint?

[coinman_23885]

I don't think the reserve can be $2500 or higher - so they have to run them as true auctions with a start at something like $2499

 

or sell their valuable stuff somewhere else

 

I wonder what will happen if the value of gold goes over $2500/oz

 

 

no more raw gold ouncers?

 

what if they come with COA from US Mint?

 

I think most of these would be considered bullion coins. With this said, if gold reaches this high, I wonder what eBay's policy will be towards generic classic gold (i.e. pre-1933)?

[Bruceswar]

Ebay can and should do anything they want, as long as it is legal. They own the business.

 

I have no problem calling PCGS/NGC coins the only accepted grading services, and ANACS/ICG considered as raw coins. This is how I look at them myself. My searches on ebay specifically avoid ANACS/ICG coins anyway. It is my personal opinion that the current ANACS/ICG grading companies are simply not reliable enough, or consistent enough for me to spend money on their holdered coins.

 

You all are entitled to your own personal opinions on this issue.

 

You might not agree with ICG or ANACS, but they have over the years graded many coins properly. This is a total disregard for that. If you are cutting out ANACS and ICG you might miss out on a good coin.

 

The real solution to all of this is education. Educate yourself and you can buy a coin from anybody and any service or raw.

 

 

What do I think of this rule? Well I think it will not hold for long. Ebay has seen a decline in coin dealers putting coins on ebay. With other venues opening up and offering better customer service, Ebay stands to lose some business. Between rising cost, bad customer service and moves like this they are driving away sellers. They need to get a coin expert quick or at least someone who knows coins pretty decent or one day they will be sitting on the sidelines to all the major sales of coins. As is you rarely see a serious coin come up for auction ebay. All those are locked up at major action houses already. There is a good article recently about Heritage and their rise to the top. They did not get to the top by having insufficiently_thoughtful_persons working for them and or bad customer service. When they branched out from only coins they went and searched out the best people they could find. It is paying off in huge dividends for them as seen in all the auctions they are having. Greg Rohan, Steve Ivy and the others must know something. Heritage is currently the 3rd largest auction house and gaining on the top 2. If i have a piece of note and want to realize the top dollar, Heritage is surely where I will go with it, assuming they sell it.

[coinman_23885]

Ebay can and should do anything they want, as long as it is legal. They own the business.

 

I have no problem calling PCGS/NGC coins the only accepted grading services, and ANACS/ICG considered as raw coins. This is how I look at them myself. My searches on ebay specifically avoid ANACS/ICG coins anyway. It is my personal opinion that the current ANACS/ICG grading companies are simply not reliable enough, or consistent enough for me to spend money on their holdered coins.

 

You all are entitled to your own personal opinions on this issue.

 

You might not agree with ICG or ANACS, but they have over the years graded many coins properly. This is a total disregard for that. If you are cutting out ANACS and ICG you might miss out on a good coin.

 

The real solution to all of this is education. Educate yourself and you can buy a coin from anybody and any service or raw.

 

 

What do I think of this rule? Well I think it will not hold for long. Ebay has seen a decline in coin dealers putting coins on ebay. With other venues opening up and offering better customer service, Ebay stands to lose some business. Between rising cost, bad customer service and moves like this they are driving away sellers. They need to get a coin expert quick or at least someone who knows coins pretty decent or one day they will be sitting on the sidelines to all the major sales of coins. As is you rarely see a serious coin come up for auction ebay. All those are locked up at major action houses already. There is a good article recently about Heritage and their rise to the top. They did not get to the top by having insufficiently_thoughtful_persons working for them and or bad customer service. When they branched out from only coins they went and searched out the best people they could find. It is paying off in huge dividends for them as seen in all the auctions they are having. Greg Rohan, Steve Ivy and the others must know something. Heritage is currently the 3rd largest auction house and gaining on the top 2. If i have a piece of note and want to realize the top dollar, Heritage is surely where I will go with it, assuming they sell it.

 

I agree with you, but from a liability perspective, I agree with the decision. There is too much variation in grading over the years to be reliable. With this said, I still buy ANACS and ICG coins in the series that I work with because I know what I am actually looking at/working with. If you know what you are doing (not insinuating you personally; I know that you have sufficient experience), you can walk away with coins at cheaper prices. This, however, takes a lot of practice and for every one "cheap" and seeming bargain priced coin that is legitimately conservatively graded, there are at least 200 more that are not and that are junk.

 

Perhaps a viable alternative would be to break the U.S. Coins category into a "U.S. Coins: Certified" and "U.S. Coins: Uncertified or Other." I would distinguish this from the "certified" label that they apply currently. In my alternative scenario, the coins would be completely separate and a disclaimer page would show in the uncertified/other category including this information before any of the auctions could be viewed. Using this approach, I would only allow PCGS/NGC coins into the "U.S. Coins: Certified" category.

[lehigh96]

I really think this is much to do about nothing. I just checked Heritage's archives and there have been about 16,000 ANACS coins auctioned in their history that have reached the $1,000 mark. From a cursory scroll through, most of those seemed to be under $2,500. Realistically, how many coins is the new E-Bay policy excluding? Most high dollar value coins already reside in PCGS and NGC plastic.

 

Furthermore, all most all of the $2,500 ANACS coins were in the old small white holders. How many of them have since been crossed to PCGS or NGC? And to provide a little scale, Heritage has sold over 300,000 coins worth more than $1,000 graded by NGC & PCGS.

[CoinPulsive PCM]

 

You should not take Ebay to court over their BS rules but talk to the CEO's of ANACS and ICG and hope that they will go after Ebay for Fair Trade violations.

 

-Dave

 

 

What fair trade violations would you be speaking of? I don't see how anyone could recover against eBay for its new policy. EBay provides eBay buyer protection and if they have liability, isn't it rational to limit their liability? While it is true that there are good coins in ANACS and ICG coins, they have had issues lately, and I understand eBay's categorical rule against them.

 

P.S. If eBay cannot prohibit ANACS and ICG coins from being listed in this manner, how can it eliminate PCI, SEGS, etc? There was obviously a judgment call there too, and because the line was pushed a little too far for you personally, you think they should be sued by ANACS and ICG?

 

 

I might have mentioned the wrong thing, but what I meant was that ANACS, ICG, PCI and SEGS should dig into why Ebay makes NGC and PCGS "VIP". Setting aside personal opinions about the TPG's, NGC and PCGS are not the only TPG's in business and Ebay should recognize all of them equally. Also, my comment had nothing to really do with Ebay buyer protection.

You made me remember when I had several coins listed on Ebay that were graded by PCI. Someone on Ebay messaged me that I cannot put PCI in the item description because Ebay does not recognize them. This guy didn't even bid on anything. I told him that even though Ebay does not recognize PCI, that is who is on the slab and I am following ebay seller guidelines by providing accurate item info and description.

 

The line that was pushed was not by Ebay, it was Paypal. I used my experience with that ordeal to comment on the person who said taking ebay to court wont work, they have tons of lawyers. I am not saying that it would work, I doubt one person can take on ebay's legal team about their policies. I went after Paypal because even though their policy states they reserve the right to do this or that with any account, I was able to prove that what Paypal did to me was against the law because their company does not hold the proper crudentials to remove funds from someones account if they originated from a person to person transaction. Nor did they provide me with documents that I asked for and that they are supposed to supply to me when I demand them.

 

Non the less, I dissagree with this new Ebay rule, and I dissagree with many other rules they have.

 

-Dave

[Frank Provasek]

 

You should not take Ebay to court over their BS rules but talk to the CEO's of ANACS and ICG and hope that they will go after Ebay for Fair Trade violations.

 

-Dave

 

 

What fair trade violations would you be speaking of? I don't see how anyone could recover against eBay for its new policy. EBay provides eBay buyer protection and if they have liability, isn't it rational to limit their liability? While it is true that there are good coins in ANACS and ICG coins, they have had issues lately, and I understand eBay's categorical rule against them.

 

P.S. If eBay cannot prohibit ANACS and ICG coins from being listed in this manner, how can it eliminate PCI, SEGS, etc? There was obviously a judgment call there too, and because the line was pushed a little too far for you personally, you think they should be sued by ANACS and ICG?

 

 

I might have mentioned the wrong thing, but what I meant was that ANACS, ICG, PCI and SEGS should dig into why Ebay makes NGC and PCGS "VIP". Setting aside personal opinions about the TPG's, NGC and PCGS are not the only TPG's in business and Ebay should recognize all of them equally. Also, my comment had nothing to really do with Ebay buyer protection.

You made me remember when I had several coins listed on Ebay that were graded by PCI. Someone on Ebay messaged me that I cannot put PCI in the item description because Ebay does not recognize them. This guy didn't even bid on anything. I told him that even though Ebay does not recognize PCI, that is who is on the slab and I am following ebay seller guidelines by providing accurate item info and description.

 

The line that was pushed was not by Ebay, it was Paypal. I used my experience with that ordeal to comment on the person who said taking ebay to court wont work, they have tons of lawyers. I am not saying that it would work, I doubt one person can take on ebay's legal team about their policies. I went after Paypal because even though their policy states they reserve the right to do this or that with any account, I was able to prove that what Paypal did to me was against the law because their company does not hold the proper crudentials to remove funds from someones account if they originated from a person to person transaction. Nor did they provide me with documents that I asked for and that they are supposed to supply to me when I demand them.

 

Non the less, I dissagree with this new Ebay rule, and I dissagree with many other rules they have.

 

-Dave

 

All the services in the bluesheet (PCGS, NGC, ANACS, SEGS, PCI, ICG) have their own standards, their own pricing. based on actual or perceived quality. As long as there is no misrepresentation of value, and the items are properly described, buying coins from ANY of these 6 services is far safer than buying any raw coins. Even the Star Grading Service slabs with the gold foil seals were decent modern Unc coins from Mint sets, all deemed MS70, (actually about MS64 to MS66 from the several dozen I have seen) but these only sold for a few dollars, their fair market value. Yet for the past 5 years, ebay's priority was stopping the listings of "unapproved slabs" while allowing millions of dangerous fake raw coins from China into the US Numismatic market, because the sellers photoshopped the word "replica" or "copy" on the images and eBay did nothing for 5 years, despite reports that these fake coins were being sent without any markings indicating they were "replicas."

[coinman_23885]

All the services in the bluesheet (PCGS, NGC, ANACS, SEGS, PCI, ICG) have their own standards, their own pricing. based on actual or perceived quality. As long as there is no misrepresentation of value, and the items are properly described, buying coins from ANY of these 6 services is far safer than buying any raw coins. Even the Star Grading Service slabs with the gold foil seals were decent modern Unc coins from Mint sets, all deemed MS70, (actually about MS64 to MS66 from the several dozen I have seen) but these only sold for a few dollars, their fair market value. Yet for the past 5 years, ebay's priority was stopping the listings of "unapproved slabs" while allowing millions of dangerous fake raw coins from China into the US Numismatic market, because the sellers photoshopped the word "replica" or "copy" on the images and eBay did nothing for 5 years, despite reports that these fake coins were being sent without any markings indicating they were "replicas."

 

I agree. Good luck with selling your ANACS inventory. I read something on their website that indicates that they will comply with eBay's policy before the cut off date - in short ANACS may resolve the problem and be listed beside PCGS/NGC.

[Raisethis2]

I just picked up a letter at the Central States Numismatic Convention From ANACS which states (and I'm paraphrasing) that they have been precluded from qualifying for E-Bay's rigid standards simply because unique serial numbers on their slabs currently cannot be verified. They are certain that prior to the implementation of E-Bay's new policy taking effect that unique serial numbers will be verifiable on their web platform.

 

Apparently this has been in the works at ANACS anyway.

 

 

[Frank Provasek]

I just picked up a letter at the Central States Numismatic Convention From ANACS which states (and I'm paraphrasing) that they have been precluded from qualifying for E-Bay's rigid standards simply because unique serial numbers on their slabs currently cannot be verified. They are certain that prior to the implementation of E-Bay's new policy taking effect that unique serial numbers will be verifiable on their web platform.

 

Apparently this has been in the works at ANACS anyway.

 

 

There are other requirements that seem to be tailored to exclude all services other than PCGS and NGC. Like that one grader has to be full time dealer of at least 5

years...when both ANACS and ICG were founded on the premise that having DEALERS on staff was a conflict of interest, and was a firable offense!

 

 

 

And then one grader on staff has to be a PNG member...with a net worth of $250,000...and subject to being blackballed anonymously like an exclusive country club membership.

 

The requirements are all structured in such as way that it's obvious that eliminating certain players was the main objective.

[CoinPulsive PCM]

 

You should not take Ebay to court over their BS rules but talk to the CEO's of ANACS and ICG and hope that they will go after Ebay for Fair Trade violations.

 

-Dave

 

 

What fair trade violations would you be speaking of? I don't see how anyone could recover against eBay for its new policy. EBay provides eBay buyer protection and if they have liability, isn't it rational to limit their liability? While it is true that there are good coins in ANACS and ICG coins, they have had issues lately, and I understand eBay's categorical rule against them.

 

P.S. If eBay cannot prohibit ANACS and ICG coins from being listed in this manner, how can it eliminate PCI, SEGS, etc? There was obviously a judgment call there too, and because the line was pushed a little too far for you personally, you think they should be sued by ANACS and ICG?

 

 

I might have mentioned the wrong thing, but what I meant was that ANACS, ICG, PCI and SEGS should dig into why Ebay makes NGC and PCGS "VIP". Setting aside personal opinions about the TPG's, NGC and PCGS are not the only TPG's in business and Ebay should recognize all of them equally. Also, my comment had nothing to really do with Ebay buyer protection.

You made me remember when I had several coins listed on Ebay that were graded by PCI. Someone on Ebay messaged me that I cannot put PCI in the item description because Ebay does not recognize them. This guy didn't even bid on anything. I told him that even though Ebay does not recognize PCI, that is who is on the slab and I am following ebay seller guidelines by providing accurate item info and description.

 

The line that was pushed was not by Ebay, it was Paypal. I used my experience with that ordeal to comment on the person who said taking ebay to court wont work, they have tons of lawyers. I am not saying that it would work, I doubt one person can take on ebay's legal team about their policies. I went after Paypal because even though their policy states they reserve the right to do this or that with any account, I was able to prove that what Paypal did to me was against the law because their company does not hold the proper crudentials to remove funds from someones account if they originated from a person to person transaction. Nor did they provide me with documents that I asked for and that they are supposed to supply to me when I demand them.

 

Non the less, I dissagree with this new Ebay rule, and I dissagree with many other rules they have.

 

-Dave

 

All the services in the bluesheet (PCGS, NGC, ANACS, SEGS, PCI, ICG) have their own standards, their own pricing. based on actual or perceived quality. As long as there is no misrepresentation of value, and the items are properly described, buying coins from ANY of these 6 services is far safer than buying any raw coins. Even the Star Grading Service slabs with the gold foil seals were decent modern Unc coins from Mint sets, all deemed MS70, (actually about MS64 to MS66 from the several dozen I have seen) but these only sold for a few dollars, their fair market value. Yet for the past 5 years, ebay's priority was stopping the listings of "unapproved slabs" while allowing millions of dangerous fake raw coins from China into the US Numismatic market, because the sellers photoshopped the word "replica" or "copy" on the images and eBay did nothing for 5 years, despite reports that these fake coins were being sent without any markings indicating they were "replicas."

 

Well if all the TPG's have different grading standards, why doesn't someone or some company make something to standardize grading. That way, all the TPG's will certify coins with the same grades. I have heard many bad things about PCGS and NGC about how they grade coins. A dealer told me that NGC will ask the dealer if the dealer wants his ASE PF69 or PF70 for a small extra fee. I sent several coins into NGC, most of them came back as I expected but 2 coins had grades that were 100% incorrect. One of them was 1955 Franklin half, it was in my Grandfathers Dansco album since 1958, NGC graded it Brilliant uncirculated CLEANED. I Knew they were wrong but to make sure, I broke it out of the holder, sent it back and it came back MS67.

 

I would rather have coins graded by ANACS over anyother TPG. But Ebay's new rule gives me one more reason to stop doing business on there.

 

-Dave

[Bruceswar]

If an online Auction House who has very little knowledge of coins makes you shy away from a coin then maybe you should rethink your collecting habits as a whole.

 

 

All this talk about what ebay is going to do is total BS if you ask me. I could care less what Ebay will do as my collecting habits will not change at all. I collect what I like.I do not care what holder it is in or what grade is on it. If I like the coin I buy it. Weather it is in SGS, PCGS, NGC or ANACS. Yes I have bought coins in just about every holder and low and behold 99% of them have been to my liking when I got them in hand. The online purchases that is. The in hand purchases are that much better for me. I have no shame in buying from a pawn shop, ebay, Auction House, coin shop, coin show, or anywhere else coins can be found. Those who do not hunt cannot find.

 

 

I guess I should add as a seller, I have no problem selling coins in said holders or even raw. I sell them daily and without question.

[Conder101]

when both ANACS and ICG were founded on the premise that having DEALERS on staff was a conflict of interest, and was a firable offense!

So were PCGS and NGC. Originally the founders stepped down from their companies. later they decided that it was OK for the owners/management to be dealers but I believe both PCGS and NGC still do not permit their graders to be dealers. (So I'm not sure THEY could satisfy the PNG rule. But they were given a pass for having to meet them by being approved by definition. Sure the owner/managers qualify but the GRADERS?)

 

Well if all the TPG's have different grading standards, why doesn't someone or some company make something to standardize grading.

That was what ANACS was supposed to be. Back before ANACS everyone used their own standards. So in 1977 the ANA developed what was supposed to become the "Official Standards" for the industryas a whole and then in 1979 ANACS began using those standards for grading coins. The problem was other grading service popped up and began using their own standards. The problem is no one has enforcement capabilities othe than the government. Ebay and the major auction houses do come close though and slowly that is exactly what they are doing by slowly excluding services. A few years back Heritage started excluding the basement slabbers. They still do a few raw pieces but almost everything in their auctions now are ANACS, PCGS, NGC, or NCS. Ebay eliminated numerical grades unless it was one of the top four companies. Now they are making it difficult for two of the companies. Frankly it looks like they are slowly forcing to industry to a single grading standard, that of PCGS and/or NGC. by putting restrictions on everything else.

[Frank Provasek]

I wish I still had the clipping from Coin World that was at my old shop, from about 1985 -- just before PCGS and NGC started. The big

dealers were protesting ANACS grading as too strict...killing our profits...can't feed my family...out of touch with reality.

 

Soon PCGS and NGC appeared with their "market grading" concept where coins with rub could be graded Mint State because they could be sold at Mint State prices. PCGS even admits such in their book!

 

 

 

 

[coinman_23885]

I wish I still had the clipping from Coin World that was at my old shop, from about 1985 -- just before PCGS and NGC started. The big

dealers were protesting ANACS grading as too strict...killing our profits...can't feed my family...out of touch with reality.

 

Soon PCGS and NGC appeared with their "market grading" concept where coins with rub could be graded Mint State because they could be sold at Mint State prices. PCGS even admits such in their book!

 

 

I have problems with the market grading concept myself and I think the market itself, and not the grading services, should make the pricing determination (or comparative valuation that the services call market grading). As a result of market grading coins are awarded additional grading points, and then collectors often add an additional premium over guide, and this is equivalent to paying a double premium in my opinion. So yes, I have problems with some of the coins that NGC and PCGS both grade, and there are coins that I would never purchase at their designated levels.

 

With this said, my problems with ANACS result from coins that I have seen at shows clearly appear to have problems that are not noted on the holders. I'm sure PCGS and NGC have their share, but I have seen far more in ANACS holders. I have also seen tremendous variability in ANACS over the years. The old small white holders - I"m in and I'll gladly purchase these when priced reasonably. The newer stuff I wouldn't touch. The grading issues are only exacerbated by the security issues raised by their holders. I have seen people crack them open and reseal them without any traceable evidence - this is absolutely scary from my perspective.

 

I also have problems with ICG. The older holders generally seem more conservative than some of the newer stuff, but they were still about a point - point and a half loose from my perspective. I have also seen problem coins in graded holders with the newer pieces. This concerns me as well. I apply the same level of scrutiny to these that I would an ANACS coin.

 

In short, while I agree with you that PCGS and NGC each have issues of their own, I ultimately agree with the new rule concerning ANACS and ICG grading. There are conservatively graded coins, but a lot of these have already been crossed, leaving a large of pool of grossly over graded coins that serve as excellent fodder for fraudulent sellers than may expose eBay to liability through its buyer protection plan. I personally would consider ANACS and ICG coins because I know what I am doing, but there are novices who do not and who will rely on the fact that ANACS and ICG are listed in, among other things, the Grey Sheet as evidence of their "conservative" grading. I support the decision.

[sixtlghorn]

You might not agree with ICG or ANACS, but they have over the years graded many coins properly. This is a total disregard for that. If you are cutting out ANACS and ICG you might miss out on a good coin.

 

Accidents do happen, but generally speaking the CURRENT ANACS and ICG holders coins are USUALLY overgraded by commonly accepted grading standards and anyone who thinks otherwise should compare the prices realized for similarly graded, identical coins in different holders.

 

 

[Oldtrader3]

Ebay invents arbitrary and spurious rules to suit themselves often enough to cause issues for many customers. Their ruling on my attempts (emails) to close my account illustrate this as a good example. They arbitrarily told me that I could not close my account (small numerical volume, infrequent sales, mostly buys) for 180 days after my last transaction because I might have a dispute or open issue! This is treatment as a customer is tripe! My last many transactions have all been simple bid/buys by me with clean feed-back given immediately. This is harassment and obstruction of reasonable process in commerce by holding up my account closure for nonsensical reasons!

 

Plus, the first thing that they did was confiscate my privileges including all Ebay Bucks that I had earned. Small minded and petty punishment nonsense! These people act like they are legally sovereign or something instead of being fair and even handed. I have been a customer of Ebay for nearly 20 years and never had any issues (100% positive feedback). I do not deserve to be backhanded for quitting by their capricious rules.

[JIM F.]

Seems to me that a company such as Heritage or Teletrade could capitalize on the upcoming Ebay policy change and create their own site similar to Ebay.

 

 

[lehigh96]

Seems to me that a company such as Heritage or Teletrade could capitalize on the upcoming Ebay policy change and create their own site similar to Ebay.

 

 

Heritage is already set up to compete with E-Bay via their Virtual Bourse Network. The problem is that their seller commission is 10% which is even higher than E-Bay's. Despite everyone's outrage at E-Bay's business practices, they will reign supreme as long as they are the cheapest venue with the most exposure.

[coinman_23885]

Seems to me that a company such as Heritage or Teletrade could capitalize on the upcoming Ebay policy change and create their own site similar to Ebay.

 

 

Heritage is already set up to compete with E-Bay via their Virtual Bourse Network. The problem is that their seller commission is 10% which is even higher than E-Bay's. Despite everyone's outrage at E-Bay's business practices, they will reign supreme as long as they are the cheapest venue with the most exposure.

 

If it includes the PayPal fees, then it is actually cheaper. The standard eBay fee is 9% + 2.9% PayPal or so = ~11.9%. Clearly there is some variation (power sellers, etc.), but the price isn't as high as it may seem.

[lehigh96]

Seems to me that a company such as Heritage or Teletrade could capitalize on the upcoming Ebay policy change and create their own site similar to Ebay.

 

 

Heritage is already set up to compete with E-Bay via their Virtual Bourse Network. The problem is that their seller commission is 10% which is even higher than E-Bay's. Despite everyone's outrage at E-Bay's business practices, they will reign supreme as long as they are the cheapest venue with the most exposure.

 

If it includes the PayPal fees, then it is actually cheaper. The standard eBay fee is 9% + 2.9% PayPal or so = ~11.9%. Clearly there is some variation (power sellers, etc.), but the price isn't as high as it may seem.

 

You need to compare apples to apples. Currently, Heritage Virtual Bourse only supports BIN listings. The 9% E-Bay fee is for auction listings. For BIN listings it is tiered with the first $50 @ 11% and $50-$1,000 @ 6%. At $75 it is break even with Heritage @ 10% and any item more than $75 is cheaper than Heritage. Add in the top rated seller 20% discount and the price difference is substantial.

 

If you are selling trinket coins I guess it wouldn't matter but if you are selling coins worth $500, Heritage takes $50 while E-Bay only takes $26.50 from a top rated seller. Even if you add in Paypal fees it is only $41.30. Without a financial incentive to leave E-Bay, I will not do so!

 

With regards to Paypal, I assumed that many buyers would still want to use paypal as a payment method and that Heritage would not pay for it. I don't know though because I have never bought or sold anything using the Virtual Bourse.

[coinman_23885]

Seems to me that a company such as Heritage or Teletrade could capitalize on the upcoming Ebay policy change and create their own site similar to Ebay.

 

 

Heritage is already set up to compete with E-Bay via their Virtual Bourse Network. The problem is that their seller commission is 10% which is even higher than E-Bay's. Despite everyone's outrage at E-Bay's business practices, they will reign supreme as long as they are the cheapest venue with the most exposure.

 

If it includes the PayPal fees, then it is actually cheaper. The standard eBay fee is 9% + 2.9% PayPal or so = ~11.9%. Clearly there is some variation (power sellers, etc.), but the price isn't as high as it may seem.

 

You need to compare apples to apples. Currently, Heritage Virtual Bourse only supports BIN listings. The 9% E-Bay fee is for auction listings. For BIN listings it is tiered with the first $50 @ 11% and $50-$1,000 @ 6%. At $75 it is break even with Heritage @ 10% and any item more than $75 is cheaper than Heritage. Add in the top rated seller 20% discount and the price difference is substantial.

 

If you are selling trinket coins I guess it wouldn't matter but if you are selling coins worth $500, Heritage takes $50 while E-Bay only takes $26.50 from a top rated seller. Even if you add in Paypal fees it is only $41.30. Without a financial incentive to leave E-Bay, I will not do so!

 

With regards to Paypal, I assumed that many buyers would still want to use paypal as a payment method and that Heritage would not pay for it. I don't know though because I have never bought or sold anything using the Virtual Bourse.

 

EBay must have changed their pricing since I last checked.

[Oldtrader3]

Why pay 3% fees on a device that is only unsaleble mainly on Ebay and also not for the purchase of any shooting or firearms related hardware. I do not know how, in America, PayPal can enforce this policy of discrimination against an entire venue of legal devices just because they want to Californicate every one's views to their own!

 

There have been many discussions about the weakness of PayPal and its arbitrary practices to say nothing about the anti competitive, unamerican free commerce hurdles and devices that it employs.

[lehigh96]

Why pay 3% fees on a device that is only unseable manily on Ebay and also not for the purchase of any shooting or firearms related hardware. I do not know how, in America, PayPal can enforce this policy of discriminationa against an entire venue of legal devices just because they want to Californicate everyone's veiws to their own!

 

There have been many discussions about the weaknesse of PayPal and its arbitrary practices to say nothing about the anticompetitive, unamerican free commerce hurdles and devices that it employs.

 

 

Why accept Paypal, because customers like it. Plain & simple!

[Oldtrader3]

Paul, I believe that people have grudgingly accepted PayPal as a device that has been foisted on people as required to use Ebay. This after protesting to no avail and being ignored.

 

BTW, please excuse my typos and all. I have been recovering from facial nerve ablation (dead trigeminal nerve) and staph pneumonia from which I wake up drowning in yuck at 4:00 AM each morning with a daily migraine from the nerve issues and oxygen starvation. Not being able to breathe affects my motor skills at 5AM and I am not awake enough to use spellcheck. Anyhow, I apologize for the eyesore postings and will try to do better.

 

That having been said, aren't there enough financial instruments out there already that Ebay does not have to grab every cent of money that is not purely transactional, in order to line their pockets and make it sound as though they have some legal standing to do so? If i decide to use my CC for a purchase, there now are two transactions fees, double what I would have to pay any other venue because of PayPal.