2009 January.pdf


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E-BAY
THE GOOD, THE BAD AND THE UGLY
BY ERNIE BOUYOUCAS
I’ve been buying and selling on eBay for almost 10
years. During that time, I’ve bought or sold coins, stamps,
paper money, books, clothing, toys and metal detectors. I
would like to share my thoughts as far as the numismatic
aspect of the site is concerned.
The Good: From a buyer’s perspective, eBay is great.
You can sit at home and browse thousands of coins, any
time of the day or night. No gas needed. It’s like all the
dealers are coming to you. You can examine photos of the
items you are interested in and eventually you will find a
coin or two that you like. As far as selling is concerned,
it’s almost the same thing. Your wares are shown to
thousands of buyers across the country (and other
countries, if you so choose). You don’t have to set up a
table or pay bourse fees, although there are fees associated
with on-line selling. This is certainly better than a show
where only a few hundred or thousand people show up.
The Bad: As a buyer, you really should know grading
and value for the items you are seeking. Overgrading is
the #1 gripe that I and so many others have about eBay
coins (although that’s true with too many regular dealers
also). To a lesser extent, overpricing is also a problem.
For a properly graded coin, however, paying a little above
bid or market value is acceptable for the convenience of
home shopping, IF it’s a great coin. Another thing to
watch out for is excessive postage charges. There’s no
reason to pay $5 or more (sometimes without insurance)
to have a coin or two mailed to you. Some sellers try to
squeeze every last cent out of you. Avoid them! For some
sellers, in my case anyway, a big drawback is that too
many buyers want refunds after receiving their coins. For
legitimate reason (mainly coin not as described) I
cheerfully give a refund less postage. The problem is that
too many buyers consider eBay an approval service and
want to examine coins with no intention of buying.
A good way to evaluate a buyer’s or seller’s past
performance is eBay’s feedback system. For a successful
transaction, each party usually leaves positive feedback
for the other. It’s obviously trouble when you see an
eBayer with lots of negative feedback. I’ve completed
almost 400 transactions with one negative feedback. For
some reason a buyer thought he was getting mint U.S. 19th
century stamps at face value. What an idiot. They were
all properly described and priced. After the negative, I
wrote my rebuttal for all to see the truth.
The Ugly: Besides the negative aspects of trading on
eBay as described above, a few other really bad (ugly)
problems persist.
1) Gross overgrading – I‘ve shown the picture to a few
club members of a Barber half described as VF when it
was AG at best. Either the seller had no clue about grading
or was trying to pull a fast one on buyers who have no
clue on grading.

2) Incomplete deals - when a buyer won’t pay or a seller
won’t deliver the product. There are several procedures in
place for these scenarios including reminders, warnings
and finally suspension of trading privileges.
3) False identities – although not a major problem, there
have been instances where either buyers or seller
misrepresented himself with no coins to deliver or
fraudulent payment methods. Counterfeit coins – OK as
long as they are labeled as such. There have been cases
where they weren’t.
I hope I’ve given some of you with no idea about
trading on eBay a little insight about what goes on there.
Generally, it is a pleasant experience to deal coins on line.
(eBay being just one of the sites.) For those of you
planning to sell on line, start slowly until you learn the
ropes. For those planning to buy, as in any enterprise.
Caveat emptor!

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DECEMBER CLUB HUNT
The weather could not have been more perfect for an
all day hunt at Tanah Keeta Boy Scout Camp. Three
members met at Cracker Barrel for a leisurely pre-hunt
breakfast. A total of 15 members spent the day metal
detecting and collecting trash for our service project.
Gary McNew, our new assistant hunt master, is also a
Boy Scout leader. He was able to take some of the
members to older outlying areas and provided more
history of the camp. Besides the usual amount of Boy
Scout and camping items, two older coins were found.
Jason Petenbrink found a 1940 silver dime and Jim
Smith found a 1951 Wheat Penny. Bill Ginty found a
very nice Boy Scout item. Two pieces of jewelry were
found: Bob Dobski – a silver ring, and Ken Lubinski –
an earring. The top “finders of loose change” were Irving
Smith, Jack Petenbrink, Jason Petenbrink and Ken
Lubinski.
If either of the two items below were found, please
contact Gary McNew:
 A small silver device with a small, odd shaped, silver
carabineer attached to a burgundy rope.
 A key marked “CT14.”

This picture doesn’t give justice to the amount of trash
recovered and how heavy all the bags were.