Ebay - efficient market for coin buying and selling

EBAY PROVIDES A MARVELOUS FORUM FOR THE COIN MARKET.

Let's look at the stock market -- where market makers will eat your
$50,000 life savings as chump change. Ever get nailed with a margin call?
Guess what...it's no fun.

When a stock rapidly falls, it is market manipulation, with specialists
looking to rip you off. In comparison, in macroeconomics terms, Ebay
provides an "efficient market" for buying and selling coins. There are no
market makers in the background that are able to drag prices down.

Coin dealers that tell you "don't buy on Ebay" are like dinosaurs and
buggy whips. The electronic forum for salses is here to stay. Brick and
mortar coin shops will always have a place in moderate - to - affluent
communities.

REGARDING GOLD COINS ON EBAY. A word of caution is warranted because
there are ample cases of counerfeit gold and platinum coins as well as
counterfeit rarities such as 1928 Peace dollars and such. For the higher
end stuff, be careful and buy from a seller who has been registered with
(Ebay, etc.) for more than a few years, and one that has ample positive
feedback. If you do buy a high-end rarity or gold coin, be sure to have
your local coin dealer look it over immediately after you get it in the
mail. Especially beware of the $10 platinum. Also, beware of buying from
a seller in Taiwan, Phillipines, Hong Kong, or other Pacific Rim countries.
(Odds are, the coin they are selling is a counterfeit, and recourse is not
worth the trouble).

On Sat, 08 Jan 2005 03:35:27 -0500, StevesGiftShoppe wrote:

EBAY PROVIDES A MARVELOUS FORUM FOR THE COIN MARKET.

Let's look at the stock market -- where market makers will eat your
$50,000 life savings as chump change. Ever get nailed with a margin call?
Guess what...it's no fun.

When a stock rapidly falls, it is market manipulation, with specialists
looking to rip you off. In comparison, in macroeconomics terms, Ebay
provides an "efficient market" for buying and selling coins. There are no
market makers in the background that are able to drag prices down.

Coin dealers that tell you "don't buy on Ebay" are like dinosaurs and
buggy whips. The electronic forum for salses is here to stay. Brick and
mortar coin shops will always have a place in moderate - to - affluent
communities.

REGARDING GOLD COINS ON EBAY. A word of caution is warranted because
there are ample cases of counerfeit gold and platinum coins as well as
counterfeit rarities such as 1928 Peace dollars and such. For the higher
end stuff, be careful and buy from a seller who has been registered with
(Ebay, etc.) for more than a few years, and one that has ample positive
feedback. If you do buy a high-end rarity or gold coin, be sure to have
your local coin dealer look it over immediately after you get it in the
mail. Especially beware of the $10 platinum. Also, beware of buying from
a seller in Taiwan, Phillipines, Hong Kong, or other Pacific Rim
countries.
(Odds are, the coin they are selling is a counterfeit, and recourse is
not
worth the trouble).
I WISH THERE WAS A MODERATOR SO YOU WOULD HAVE TO STOP SHOUTING AT ME!
--
DW

In article
outcollecting.com,
"StevesGiftShoppe" wrote:

EBAY PROVIDES A MARVELOUS FORUM FOR THE COIN MARKET.

Let's look at the stock market -- where market makers will eat your
$50,000 life savings as chump change. Ever get nailed with a margin call?
Guess what...it's no fun.


So tell us, Warren. Did you spend any time at all reading this newsgroup
before you started posting? Do you have any idea about the
sophistication of the majority of people here? And most important, have
you bothered to familiarize yourself with UseNet etiquette?

On Sat, 08 Jan 2005 09:54:39 -0800, Wolley Segap wrote:

In article
outcollecting.com,
"StevesGiftShoppe" wrote:

EBAY PROVIDES A MARVELOUS FORUM FOR THE COIN MARKET.

Let's look at the stock market -- where market makers will eat your
$50,000 life savings as chump change. Ever get nailed with a margin
call? Guess what...it's no fun.


So tell us, Warren. Did you spend any time at all reading this newsgroup
before you started posting? Do you have any idea about the sophistication
of the majority of people here? And most important, have you bothered to
familiarize yourself with UseNet etiquette?
YES! I KNOW ALL ABOUT NETIQUETTE AS I DO COIN GRADING! WHY DO YOU
ASK???? YOU MUST BE AN IDIOT!!!
......sorry, I was just trying to guess what the response would be.. I'll
stop my sarcasm now.

-- DW

"linxlvr" apologetically stated:
.....sorry, I was just trying to guess what the response would be.. I'll
stop my sarcasm now.

You'll have to forgive me for laughing my silly head off when I read that!


Larry
'I get amused at the funniest things'

"Wolley Segap" wrote in message
...
In article
outcollecting.com,
"StevesGiftShoppe" wrote:

EBAY PROVIDES A MARVELOUS FORUM FOR THE COIN MARKET.

Let's look at the stock market -- where market makers will eat your
$50,000 life savings as chump change. Ever get nailed with a margin
call?
Guess what...it's no fun.


So tell us, Warren. Did you spend any time at all reading this newsgroup
before you started posting? Do you have any idea about the
sophistication of the majority of people here? And most important, have
you bothered to familiarize yourself with UseNet etiquette?

Don't worry. He doesn't know what a margin call is, either, or why
brokerages issue them.

Steve
(Wall Street market maker 1989-2001)

Subject: Ebay - efficient market for coin buying and selling
From: "StevesGiftShoppe"
Date: 1/8/05 2:35 AM Central Standard Time
Message-id:
boutcollecting.com

EBAY PROVIDES A MARVELOUS FORUM FOR THE COIN MARKET.

Let's look at the stock market -- where market makers will eat your
$50,000 life savings as chump change. Ever get nailed with a margin call?
Guess what...it's no fun.

When a stock rapidly falls, it is market manipulation, with specialists
looking to rip you off. In comparison, in macroeconomics terms, Ebay
provides an "efficient market" for buying and selling coins. There are no
market makers in the background that are able to drag prices down.

Coin dealers that tell you "don't buy on Ebay" are like dinosaurs and
buggy whips. The electronic forum for salses is here to stay. Brick and
mortar coin shops will always have a place in moderate - to - affluent
communities.

Well, "Steve" you have every right to your opinion and in a perfect world,
I'd agree with you.
To me, I feel blessed to have three good coin shops within 20 minutes
driving time and I still enjoy interacting with a live human being and first
hand inspecting any coin I might want to buy. Relying on poor quality scans
and the honestly of the sellers is risky business as far as I'm concerned.
Besides, there are many times when I walk into a shop and say, for example, I'm
looking for a MS63-64 1897 S Morgan dollar. They ask if I want raw or
certified and I sit down and look at 2 or 3 or 8 or 10. Great fun with no
competition for my bidding, that is, I don't have to time it right, or worry
about shill bidders for that matter. I hope that as long as I'm on this earth,
I'll always have a coin store to visit.
Yes, I've purchased a few on Ebay, and overall, it's been alright. Still, I
own coins from Ebay that I would not have purchased if I had a chance to give
them my first hand inspection. What percentage of the total purchased would
this be? About 50% and some of those are even certified.
As I say, I respect your opinion but don't agree with it wholeheartly.
Best wishes, Pete