I posted before in Numista website improvements that we need a digital market place for coin collectors and investors that is peer to peer, cheap, efficient, specialized in coins and not for profit. Numista would be perfect but its management disagrees. With a 10% commission, Ebay is far to expensive and Catawiki horrendously so with 15,5% and 8% on the seller and buyer side, respectively. With Ebay, I had some truly, truly horrendous user experience disasters and I am closing my account. Its procedures and links are a ramshackle of incomprehensibly complex and incompatible improvisations.
I am now on HOOD.de, a beautifully easy site to use with excellent customer service. Its visitor traffic, however, is almost nil and it’s geared towards German users. Nothing prevents non Germans to use it and use the English language.
With this thread, I invite all to visit it and and post coins there or also buy them. Please send it emails asking for an English version and to create a subsection only for coins.
The coin market urgently needs a wider audience and the main barrier for its growth are lower margins between buying and selling and lower transaction costs. It must be easier and cheaper to sell off mistakes and restructure collections.
As for swapping on Numista, I keep blocking jokers and I rarely initiate a swap myself, as I find the whole process very time consuming and searching for interesting coins available for swap is like looking for a needle in a haystack.
Ebay is actually pretty reasonable for commission rates, most auction sites are above 10%.
Also you get payment protection and alot of other stuff to make things better.
To be honest I don't think many people reading your post will be going "Im going to use this german website and email them to make an english version" It is just an unrealistic expectation. There are many places to sell coins and it's entirely up to you to choose which.
Yea, 10% on ebay is fine. My main issue with them is mainly security and vetting. It's impossible to vet a client until after they click purchase to check for fraudsters. However they do have a department you can call to cancel transactions you don't like the look of.
The buyers fees are what majorly puts me off auction houses. Apparently long ago before my time, Glendinings, Seaby and Spink had a 10% sellers fee, and that was it. Then some smart ass decided to add a 10% buyers fee too, and over time that went up, but the sellers fee remained.
This means that at say Heritage, you'll lose 30% of your coins value. They don't negotiate on fees unless you're in the 6 figure range either, so the small seller is screwed.
I actually think 10% at ebay is super reasonable as I said. Remember also, that fee is CAPPED AT £250. So more expensive items you pay even less. I'd like to see them improve security, and stop the paypal reliance. With those 2 issues sorted, it would be a fine platform. It has insane reach and fair fees.
Thank you for your input. Maybe I delete the post if I get more feedback like yours. You may be right but I do not feel 10% is reasonable at all. I mostly collect gold coins. For a Sovereign which costs €400 this means €40. Do you see how much gold has to move for you to get out of a coin without loosing €40? Add to that PayPal of 2,5% and shipping of say €10 and you get to €60! If you buy at the same time its double €80 in a transaction of €400 = 20% transaction costs.
Paypal can be offered by all and not only Ebay. So it is not Ebay specific. I would be thankful if you could let me know of other sites to buy and sell your own coins. I mean without intermediaries. I mean peer-to-peer.
Ps. for investment gold, many auctions have 0% buyer fees still.
I also think you're conflating investment and numismatic gold. There's plenty of places to buy and sell at or around spot if that's what you do. (reddit etc)
With numismatic gold, there's not really such a thing as a 'margin;' it all comes down to what a specific buyer (or 2 in an auction) are willing to spend on a given day. Either pot luck or patience. I have medals I could sell way faster, but I list for high prices as I kinda wanna keep them a while, and eventually a buyer will want it badly enough.
There aren't going to be many sites that offer no fees but are reputable and safe.
There are places such as Shpock, and Facebook marketplace which are free to sell, but would you trust selling on those?
You're better off paying the fees. they pay for important stuff.
I understand where you stand, tks, but Hood is not free for everybody and without limits and it is reputable. Ebay for me is not reputable at all, from what I read and hear and from my own experience. Closed my account there. Anyway, I understand a good service has to be paid. I just think right now costs are excessive from where I stand and how I see gold collecting. Tks for all the feedback.
Quote: "oggy"Yea, 10% on ebay is fine. My main issue with them is mainly security and vetting. It's impossible to vet a client until after they click purchase to check for fraudsters. However they do have a department you can call to cancel transactions you don't like the look of.
The buyers fees are what majorly puts me off auction houses. Apparently long ago before my time, Glendinings, Seaby and Spink had a 10% sellers fee, and that was it. Then some smart ass decided to add a 10% buyers fee too, and over time that went up, but the sellers fee remained.
This means that at say Heritage, you'll lose 30% of your coins value. They don't negotiate on fees unless you're in the 6 figure range either, so the small seller is screwed.
I actually think 10% at ebay is super reasonable as I said. Remember also, that fee is CAPPED AT £250. So more expensive items you pay even less. I'd like to see them improve security, and stop the paypal reliance. With those 2 issues sorted, it would be a fine platform. It has insane reach and fair fees.
stop the paypal reliance
Is it because of the fees or something else.
Quote: "NoIdea"I posted before in Numista website improvements that we need a digital market place for coin collectors and investors that is peer to peer, cheap, efficient, specialized in coins and not for profit. Numista would be perfect but its management disagrees. With a 10% commission, Ebay is far to expensive and Catawiki horrendously so with 15,5% and 8% on the seller and buyer side, respectively. With Ebay, I had some truly, truly horrendous user experience disasters and I am closing my account. Its procedures and links are a ramshackle of incomprehensibly complex and incompatible improvisations.
I am now on HOOD.de, a beautifully easy site to use with excellent customer service. Its visitor traffic, however, is almost nil and it’s geared towards German users. Nothing prevents non Germans to use it and use the English language.
With this thread, I invite all to visit it and and post coins there or also buy them. Please send it emails asking for an English version and to create a subsection only for coins.
The coin market urgently needs a wider audience and the main barrier for its growth are lower margins between buying and selling and lower transaction costs. It must be easier and cheaper to sell off mistakes and restructure collections.
As for swapping on Numista, I keep blocking jokers and I rarely initiate a swap myself, as I find the whole process very time consuming and searching for interesting coins available for swap is like looking for a needle in a haystack.
Thank you for reading this post.
There isn't an easy answer ...or a good alternative.
USA Coin Book Fee
The only fee we ever charge is a flat 2% final value fee for both auction or fixed listing formats. For instance, if you sold a $50.00 item, the 2% fee would be equal to $1.00. Sellers are not required to pay the fees until the total fee balance reaches $2.00 or more ($100 worth of sales). Once fees accumulate to $2.00, the seller must then pay these fees within 30 days. USA Coin Book fees are only charged on the subtotal price of the items. We do not factor in shipping or tax prices when calculating fees, so this helps save money for the seller.
PayPal Fees
Our site uses a PayPal API system which makes our marketplace possible and allows members to deal with a professional transaction service that can enforce payment and fraud issues between buyers and sellers.
Primary PayPal Fee - The main PayPal fee is a 2.90% final value fee plus $0.30 on all orders. For a $50.00 item, this would be equal to $1.45 + $0.30 or $1.75.
Absolute Total Fees
When PayPal fees are applied, it turns out being 2.90% of the final item value plus $0.30, which makes up the majority of the fees. The USA Coin Book commission is 2% so the absolute total fees for everything including PayPal turns out being 4.900% + $0.30
In our example of the $50 item, the final total fees would end up being $2.75 with PayPal factored in.
Those who believe they can do something and those who believe they can't are both right.
- Henry Ford
Quote: "edduns"I sell all my coins on this site, pretty safe https://www.usacoinbook.com/
USA Coin Book Fee
The only fee we ever charge is a flat 2% final value fee for both auction or fixed listing formats. For instance, if you sold a $50.00 item, the 2% fee would be equal to $1.00. Sellers are not required to pay the fees until the total fee balance reaches $2.00 or more ($100 worth of sales). Once fees accumulate to $2.00, the seller must then pay these fees within 30 days. USA Coin Book fees are only charged on the subtotal price of the items. We do not factor in shipping or tax prices when calculating fees, so this helps save money for the seller.
PayPal Fees
Our site uses a PayPal API system which makes our marketplace possible and allows members to deal with a professional transaction service that can enforce payment and fraud issues between buyers and sellers.
Primary PayPal Fee - The main PayPal fee is a 2.90% final value fee plus $0.30 on all orders. For a $50.00 item, this would be equal to $1.45 + $0.30 or $1.75.
Absolute Total Fees
When PayPal fees are applied, it turns out being 2.90% of the final item value plus $0.30, which makes up the majority of the fees. The USA Coin Book commission is 2% so the absolute total fees for everything including PayPal turns out being 4.900% + $0.30
In our example of the $50 item, the final total fees would end up being $2.75 with PayPal factored in.
tks a lot indeed! Looks USA centric. Are you in the US? This could be the solution if enough Europeans are members.
Quote: "oggy"Yea, 10% on ebay is fine. My main issue with them is mainly security and vetting. It's impossible to vet a client until after they click purchase to check for fraudsters. However they do have a department you can call to cancel transactions you don't like the look of.
The buyers fees are what majorly puts me off auction houses. Apparently long ago before my time, Glendinings, Seaby and Spink had a 10% sellers fee, and that was it. Then some smart ass decided to add a 10% buyers fee too, and over time that went up, but the sellers fee remained.
This means that at say Heritage, you'll lose 30% of your coins value. They don't negotiate on fees unless you're in the 6 figure range either, so the small seller is screwed.
I actually think 10% at ebay is super reasonable as I said. Remember also, that fee is CAPPED AT £250. So more expensive items you pay even less. I'd like to see them improve security, and stop the paypal reliance. With those 2 issues sorted, it would be a fine platform. It has insane reach and fair fees.
stop the paypal reliance
Is it because of the fees or something else.
2 reasons:
1. Paypal Is hugely dangerous for sellers. SNAD cases are so easy and accounts with thousands can simply get frozen.
2. the hugely punitive currency conversion. Yes there are a few ways around it, but it takes time. The PayPal currency fees for a buyer can be like 6%.
Also, why not simply allow payment by bank transfer etc instead of demanding you use PayPal. It makes little sense
Also, why not simply allow payment by bank transfer etc instead of demanding you use PayPal. It makes little sense
Ebay allows for bank transfer only, at least for smaller amounts in my experience. However, if you are a seller, there are jokers who bid but afterwards ask for PP payment. After you refuse they will leave negative feedback, usually offensive and defamatory, and Ebay will not allow you to retract it or even comment on it. This is their way to push you into PayPal because it belongs to Ebay and they make fees on both ends.
Also, why not simply allow payment by bank transfer etc instead of demanding you use PayPal. It makes little sense
Ebay allows for bank transfer only, at least for smaller amounts in my experience. However, if you are a seller, there are jokers who bid but afterwards ask for PP payment. After you refuse they will leave negative feedback, usually offensive and defamatory, and Ebay will not allow you to retract it or even comment on it. This is their way to push you into PayPal because it belongs to Ebay and they make fees on both ends.
for the U.K. at least, you’re forced to accept PayPal payment. (The us and Germany were the first 2 trial countries to dump them)
the companies split in 2016, but PayPal secured a deal forcing eBay to commit to 80% of their payments going through PayPal for 5 years.
ebay are actually ditching them imminently and moving to a new provider, but it remains to be seen if that’s a good or bad thing. Should happen very soon though. We’re (the U.K.) apparently next. Is the new eBay payments better/cheaper than PayPal? Apparently in the us it’s actually worse. (The US rate of one-off fee + 2.7% can be near 2x PayPal’s own 1.3-2.9% revenue dependent “Tiered Tate”)
Quote: "oggy"Yea, 10% on ebay is fine. My main issue with them is mainly security and vetting. It's impossible to vet a client until after they click purchase to check for fraudsters. However they do have a department you can call to cancel transactions you don't like the look of.
The buyers fees are what majorly puts me off auction houses. Apparently long ago before my time, Glendinings, Seaby and Spink had a 10% sellers fee, and that was it. Then some smart ass decided to add a 10% buyers fee too, and over time that went up, but the sellers fee remained.
This means that at say Heritage, you'll lose 30% of your coins value. They don't negotiate on fees unless you're in the 6 figure range either, so the small seller is screwed.
I actually think 10% at ebay is super reasonable as I said. Remember also, that fee is CAPPED AT £250. So more expensive items you pay even less. I'd like to see them improve security, and stop the paypal reliance. With those 2 issues sorted, it would be a fine platform. It has insane reach and fair fees.
stop the paypal reliance
Is it because of the fees or something else.
2 reasons:
1. Paypal Is hugely dangerous for sellers. SNAD cases are so easy and accounts with thousands can simply get frozen.
2. the hugely punitive currency conversion. Yes there are a few ways around it, but it takes time. The PayPal currency fees for a buyer can be like 6%.
Also, why not simply allow payment by bank transfer etc instead of demanding you use PayPal. It makes little sense
I recently used Transferwise whilst sending money to Europe for a gift item costing €58 . Due to many modifications to the gift, I couldn't pay through their website. The only other option was a bank transfer - my bank charges a flat fee of £25 for any amount upto £10000.
So for the gift payment through Transferwise all I paid was 58 cents as commission.
Quote: "BluHawk58 . Due to many modifications to the gift, I couldn't pay through their website. The only other option was a bank transfer - my bank charges a flat fee of £25 for any amount upto £10000."So for the gift payment through Transferwise all I paid was 58 cents as commission.
yeah Bluhawk, within the € area, bank transfers are free (sepa transfers) thanks to the often reviled EU commission checking on free markets and monopolists.
Bluhawk, Transferwise is amazing. I use it for almost every real auction. If ebay allowed that option, they'd almost shoot directly to the #1 seller for my stuff when I finally get around to it. (Though security vetting is still a concern for more expensive stuff)
Quote: "BluHawk58 . Due to many modifications to the gift, I couldn't pay through their website. The only other option was a bank transfer - my bank charges a flat fee of £25 for any amount upto £10000."So for the gift payment through Transferwise all I paid was 58 cents as commission.
yeah Bluhawk, within the € area, bank transfers are free (sepa transfers) thanks to the often reviled EU commission checking on free markets and monopolists.
Btw Noldea, looking at your coins, we could definitely do some sort of swap if trust was 100%. The problem is, 2 random dudes on the internet doing a $5000 swap isn't exactly smart.
Quote: "oggy"Btw Noldea, looking at your coins, we could definitely do some sort of swap if trust was 100%. The problem is, 2 random dudes on the internet doing a $5000 swap isn't exactly smart.
oggy, 1st I agree with you on the Brexit stuff. I am anglophobe and it bleeds my heart. 2nd I am big fan of British humour and you show it. 3rd A swap for $5000? My goodness, what are you talking about? Whether we do it or not, I would love to see how it would look like. As for trust, nothing is impossible. I am sure we could find a respectable intermediary or something, or just start small, or do it in baby steps. 4th If you have time and mean it, send me a private message. 5th We could report it to Xavier and hold the record of the largest ever swap on Numista. Cheers!
Quote: "oggy"Btw Noldea, looking at your coins, we could definitely do some sort of swap if trust was 100%. The problem is, 2 random dudes on the internet doing a $5000 swap isn't exactly smart.
oh, and I would probably take you up on your offer of bullion coins at gold spot prices. The Austrian 1 Ducat 1915 restrike for example...
Our people here are so dumb.