topic Re: Coin collection to sell - after some selling/postage tips in Selling

Coin collection to sell - after some selling/postage tips

baf65partner — Sun, 27 Jan 2019 06:35:20 GMT

I want to start offloading a big coin collection we inherited, I was thinking it was best to start with some of the smaller items (eg $1/$5 uncirculated coins in packets). I believe I should start small to build up a good reputation for when I want to start selling the more valuable items. Ive been watching prices so have a good idea what they are going for. I would like to ask - firstly re postage - do most coin sellers send these smaller coins (they are in small flat wallets) in jsut a normal envelope - given I see postage is either free or around $3? For these type of items is it best to list as a Buy It now, best offer or Auction? From what I can see a $1 is going for around $3-$5 or more depending on what it is, a $5 coin selling up to around $12. I have multiples of some of these coins - is it best to sell individually and give the buyer the option of multi postage?

thanks in advance!

Re: Coin collection to sell - after some selling/postage tips

kopenhagen5 — Sun, 27 Jan 2019 06:48:52 GMT

Multiple purchases is always better to give the buyer the option.

But it's difficult to put them in a multi listing as coins will all differ with grades unless they are pre-packed from the mint.

I would sell individually and have in all my listings that multiple purchases can be combined for discounted postage.

Unless there are a lot of very low value items then as a bulk lot of 10 or 20 coins might be the best.

As for postage, letter is supposed to be document only but if they are sent as large letter $2 they can provided they don't exceed 20mm thick. (fit into a normal letterbox slot) If multiple purchases are made they can often go in a padded encelope as large letter.

A good idea to start with a few and work up so you know how eBay selling works.

As well, you will probably be limited to 10 free listings per month being a new seller.

So listing as Buy it Now for 30 days is probably the way to go.

Auctions aren't what they used to be on eBay and many buyers don't want to wait until an auction finishes.

Auctions are good for rare items that may get multiple bidders fighting for it.

Hope this helps and don't hesitate to ask further questions.

Re: Coin collection to sell - after some selling/postage tips

baf65partner — Sun, 27 Jan 2019 06:53:16 GMT

Great, thanks for your speedy reply!

all but a few of the coins are RAM or Perth Mint and all in superb condition mainly because they have sat in boxes in our house for 14 years and before that in the in laws house for 10years I reckon most of them have been barely looked at!

i have for example about 20 x $1 Phar Lap coins, all in exactly the same condition - can I list just the one coin and somewhere in the listing note that there are 'multiples' avaiable?

Re: Coin collection to sell - after some selling/postage tips

baf65partner — Sun, 27 Jan 2019 07:15:48 GMT

Another question! I see that there is an option to buy on ebay the prepaid or non prepaid satchels (500g or 1kg), is there one that is a better choice than another? Thinking this would be for using on the bigger coins - like the proof and uncirculated sets

Re: Coin collection to sell - after some selling/postage tips

kopenhagen5 — Sun, 27 Jan 2019 07:25:51 GMT

Yes you simply do a listing for one coin and enter 20 in the quantity field then the buyer can select 2,3 or however many up to 20.

It will also show as how many have sold in the history and that can improve it's ranking in searches.

(if they are silver prrof coins then they seem to be selling for $55 - $99 each)

On the satchels, that is a good question because sending items as large letter doesn't have tracking (although I believe it's available soon if not already)

Higher value items are best sent with tracking so you are covered.

There are buyers that know the system and if they see an item sent without tracking, all they need to do is open a case for INR to get the money back. With tracking you are covered for delivered items and if items are expensive then perhaps signature on delivery is better. High priced items, buyers won't mind paying $20-30 on postage.

Re: Coin collection to sell - after some selling/postage tips

davewil1964 — Sun, 27 Jan 2019 07:23:42 GMT

@baf65partner wrote:
Great, thanks for your speedy reply!

all but a few of the coins are RAM or Perth Mint and all in superb condition mainly because they have sat in boxes in our house for 14 years and before that in the in laws house for 10years I reckon most of them have been barely looked at!

i have for example about 20 x $1 Phar Lap coins, all in exactly the same condition - can I list just the one coin and somewhere in the listing note that there are 'multiples' avaiable?

You can list multiples within the same listing, ie qty 10, but they count towards any listing limits you have.

Also be aware that there will probably be a 21 day hold on your funds until you establish a track record. You will still be expected to post within your handling time, however.

Re: Coin collection to sell - after some selling/postage tips

davewil1964 — Sun, 27 Jan 2019 07:27:54 GMT

eBay postage is generally cheaper than the equivalent AP offering (unless your volume will trigger MyPost Business discounts), but satchelwise only applies to 500g and 3kg. You have much better protection than a hand written prepaid satchel though.

You still need to buy the satchels from AP. Through eBay is probably best as there is no minimum spend. 20+ is the most economical, but that would depend on whether or not you think you will use them.

Re: Coin collection to sell - after some selling/postage tips

k1ooo-slr-sales — Sun, 27 Jan 2019 07:31:06 GMT

@baf65partner wrote:

if you are buying Aust Post prepaid satchels on eBay you need to be careful as there are some sellers who sell fake satchels. These satchels look almost the same as the ones you would buy in an AP shop. Check the feedback of any seller who is selling AP satchels, be extra careful if they have many listings for AP satchels at low prices. If their pirces seem too good to be true then they truly are too good to be true.

https://community.ebay.com.au/t5/Selling/Beware-buying-Aust-post-express-satchels/m-p/2206625/highlight/true#M178766

If you are going to buying a lot of satchels you can get a discount by buying packs of 10 from AP shops. Buy 10 packs of 10 and they get even cheaper.

Re: Coin collection to sell - after some selling/postage tips

kopenhagen5 — Sun, 27 Jan 2019 07:31:52 GMT

dave makes a good point on multiple listings as counting off your first freebies that i forgot about.

I would list perhaps 3 of those coins in quantity and in a good to cancelled listing so the history continues then you can always add to the quantity as they sell.

Re: Coin collection to sell - after some selling/postage tips

baf65partner — Sun, 27 Jan 2019 07:32:24 GMT

Does that track record apply to being a buyer as well as a seller? ive got my own ebay account with only positive feedback as a seller but I havent sold or bought from it for a few years. Then Ive got my partners account which has only positive feedback as a buyer over the last few years, but no seller feedback at all, Which of the two would be best to use? On both accounts I have got 40 free listings available

Re: Coin collection to sell - after some selling/postage tips

kopenhagen5 — Sun, 27 Jan 2019 07:44:24 GMT

Usually if an account hasn't sold for more than a year you need to start again as far as the limits are concerned.

That means limit of 10 listings and $2500 from memory and a 21 day hold on funds.

Feedback remains the same.

But if your selling account is nearly as old as mine, 2007, then limits may not apply.

You will soon find out when you try to list more than 10, but careful not to end listings as they count towards the 10 per month.

Once limits are raised you will get 40 freebies per month per account.

Re: Coin collection to sell - after some selling/postage tips

kopenhagen5 — Sun, 27 Jan 2019 07:53:25 GMT

P.S. I would use the account you have sold from before.

Not the account that has never sold.

Re: Coin collection to sell - after some selling/postage tips

baf65partner — Sun, 27 Jan 2019 08:05:51 GMT

ACtually I see I have got 40 fixed price or auction free listings and then 10 under a 'free trial' and then the $1 weekend FVF offer - is this a regular offer?

Re: Coin collection to sell - after some selling/postage tips

kopenhagen5 — Sun, 27 Jan 2019 08:16:05 GMT

Yes offers to list on a weekend have been fairly regular ending midnight on a sunday.

Sometimes $1 if it sells or 75% off FVF's and even free to list, free when sold.

FVF's are now 10.9% on total invoice (including postage) so if fee is $1 then anything under $10 listed is of no benefit in that promo.

I recently listed a few $10 items in $1 fvf promo before I realized it was pointless.

You can also save some listings to drafts then list them when a promo appears but remember to click get offer just before you list otherwise they won't come off promo listings offered.

Re: Coin collection to sell - after some selling/postage tips

lyndal1838 — Sun, 27 Jan 2019 08:29:58 GMT

If you have multiples of a lot of coins I suggest you have a word with the ATO as they may consider you are runnig a business.

You can get away with selling a collection of coins when you only have one of each coin....that is considered selling your own possessions but once you have multiples they look at it differently.

Re: Coin collection to sell - after some selling/postage tips

baf65partner — Sun, 27 Jan 2019 08:52:52 GMT

Really! Gosh didnt even think of that, I think the Father in law just bought and forgot what he had bought, some of the more pricier coins only have 1 copy of, some of the carded coins he went a bit overboard!!!

Re: Coin collection to sell - after some selling/postage tips

k1ooo-slr-sales — Sun, 27 Jan 2019 09:00:09 GMT

@lyndal1838 wrote:
If you have multiples of a lot of coins I suggest you have a word with the ATO as they may consider you are runnig a business.

You can get away with selling a collection of coins when you only have one of each coin....that is considered selling your own possessions but once you have multiples they look at it differently.

if the coin collection is part of an inheritance then it might not be subject to tax.

Take a look at this ATO page and scroll down to the examples.

https://www.ato.gov.au/business/starting-your-own-business/in-detail/online-selling---hobby-or-business-/

Look for this example:

Disclaimer: I have no accounting or tax training and my post contains general information only. It is the responsibility of members to obtain professional accounting/tax advice from a qualified professional if they are unsure of their tax obligations. All advice on public discussion boards should be treated as general in nature.

Re: Coin collection to sell - after some selling/postage tips

k1ooo-slr-sales — Sun, 27 Jan 2019 09:05:06 GMT

@baf65partner wrote:
Really! Gosh didnt even think of that, I think the Father in law just bought and forgot what he had bought, some of the more pricier coins only have 1 copy of, some of the carded coins he went a bit overboard!!!

you might need to phone the ATO as it may depend on how long ago you inherited the coins, whether you are selling them and sharing the proceeds to other family members etc.

If you receive advice from the ATO on the phone ask that the advice also be emailed to you (just in case).

Disclaimer: see my previous post for a disclaimer regarding my posts.

Re: Coin collection to sell - after some selling/postage tips

joztamps — Sun, 27 Jan 2019 12:11:32 GMT

The OP needs to get some expert advice.

Even if disposal of an inheritance does not create a liability for normal income tax, it may well create a liability for Capital Gains Tax.

How, and whether, this applies can vary with the terms of the Will and the dates of death, transfer as part of the administration of the estate (if any) and ultimate disposal, and the value at some or all of those dates might need to be established.

Depending upon the overall value, it it would probably be worth paying soime accountants' fees to get it right.

Re: Coin collection to sell - after some selling/postage tips

*tippy*toes* — Sun, 27 Jan 2019 16:39:52 GMT

Hopefully Crow will see your post and chime in as she knows what she's talking about when it comes to coins. Personally, I would list coins as auctions. Most will get more than one bid. Always start an auction at the lowest price you're willing to accept. A lot of larger sellers will start at 99c, but they know they will get lots of bidders. I would advice against that for yourself.

If you have sold before, but not for awhile, you don't have to start again. If you previously gained, say a 100 item listing limit, you will still have that (up from 10 that you have when you first start). The only difference is, you will be subjected to PayPal's 21 day funds hold. You can get the funds released earlier by giving them a call, giving them a tracking number that shows delivered, and they'll release them while you are on the phone.

Crow will probably agree, when it comes to coins, do NOT ever send without tracking. If you want to send as large letter, send registered. That includes a tracking number and signature on delivery. As soon as you start sending untracked, you'll start getting item not received disputes against you. You will lose and be forced to refund the ~~scammers~~ buyers.

Even if you have a listing limit of 100, you still only get 40 free listings a month. However, if you are fortunate enough to get the $1 listings of a weekend, then you can list up to your limit, and only pay $1 in FVF's. Every now and then eBay will issue a totally fee free promotion, where you pay no fees if something sells. Keep an eye out for them. I get the $1 promo every weekend, so I only list of a weekend. I couldn't tell you the last time I used any of my 40 freebies!