Did you know that you can make money selling coins on eBay?
If you own valuable coins or inherited some, you can sell them on eBay to make more money online. The auction format is the ideal way of listing more valuable coins because you can get buyers willing to pay for them at a price higher than the asking price.
However, a fixed-price listing also works if you have determined the actual value of the coins. It’s a potentially lucrative item to sell on eBay, so make sure you know how to create a quality eBay listing when you sell coins.
There are steps you must take to ensure you don’t sell counterfeit coins and avoid the risk of being suspended from eBay.
If done well, you can easily make more money by selling coins on eBay. But remember, valuing coins is not as straightforward as other items sellers list on the eBay platform.
Therefore, you have additional steps to take when creating a listing to determine the approximate value of coins and ensure you value the coins carefully and properly. Otherwise, you could be selling coins at a much lower price than they’re actually worth.
Before you start listing, refer to this guide to help you out. After reading this guide, you should be more confident in selling coins on eBay!
Article Overview
Why Sell Coins on eBay?
Step-By-Step Guide to Selling Coins on eBay
Top Selling Coins on eBay
Final Thoughts When Selling Coins on eBay
Why Sell Coins on eBay?
Do you have a massive coin collection, and you are thinking of selling them on eBay? Good decision!
Coins are one of the most potentially profitable items to sell on eBay, mainly if you can target the right buyers for your listings. Several avid collectors are willing to pay a lot for higher value coins or rare ones.
Therefore, you must take advantage of this demand and niche to ensure your coins sell and that you can make more money on the platform.
It would be best if you had experts to scrutinize your coins to ensure they are not counterfeit coins. Providing expert insights and coin valuation will give your buyers more confidence when buying from your listings.
So, what makes selling coins on eBay profitable?
We’ve used a market research tool to analyze the sales data of this product and niche. That way, you can use these data insights to help determine if you should sell coins on eBay or keep these coins in your collection.
According to the sales data for coins on eBay, this product category has a sell-through rate of 1,525%. The total sales earnings in the past 30 days is $290,224.
The average product price for coins is $210.45. Based on the average price, it shows how much potential buyers are willing to pay for this product.
And it’s higher than most other products you would find or sell on eBay!
Let’s look at one seller among the top sellers in this category: DBS Coins. This eBay seller has a 100% positive feedback rating, with 353,000 items sold.
This seller specializes in selling coins via the eBay platform.
One of the seller’s top items is the American Buffalo Fine Gold Coin. The coin’s face value is $50, but it is listed for $2,109.76. It is a trending item with over 900 lifetime sales on this product.
Another listing from the same seller is also doing well. This product is an American Eagle Gold Coin with a $50 face value.
However, the product is listed at $2,102.07 on eBay. The seller has a lifetime sales of 600 for this particular listing.
Later on, we’ll look at the top-selling coins on eBay in the past 30 days to give you an idea of how to create a quality eBay listing that would help your product sell more than other eBay sellers.
Also, in the succeeding sections, you will learn what you need to get started to make money when you sell coins.
Step-By-Step Guide to Selling Coins on eBay
Whether you’re a casual collector or a huge dealer, there are many opportunities to make money when you sell coins on the eBay platform. This guide will show you how to become a top eBay seller and get the most money from your coins.
Step 1: Set Up an eBay Account
An eBay account is the most important thing you need to make money from selling coins online. If you don’t have an eBay account yet, you can follow this detailed guide on how to set up your eBay account.
This guide will show you the steps to simplify your eBay setup process so you can start selling ASAP.
Step 2: Know Your Coins
eBay sellers know the importance of being familiar with the products you are selling on eBay if you want to maximize profit. The first and most important step when you sell coins online is to identify your coins and know their approximate value.
The American Numismatic Association is an excellent resource for learning about coins and other related items. This resource is created for coin collectors, museums, and the public interested in coins and numismatics.
You can consult a numismatic expert to assess the value of old coins and determine the approximate value and how to assess the mint mark on coins before you start selling them.
Another excellent resource for determining the value of old coins is the Coin Dealer Newsletter, also known as the Greysheet. This publication has issued monthly publications since 1963, targeting numismatics professionals to provide them with accurate and updated pricing guides.
This resource offers unbiased and factual information, making it a good reference when grading coins and entering into coin dealer transactions. However, the Greysheet only values US coins and US mint sets.
The suggested prices from the guide are “bid” prices, which give you an idea of the asking price for these old coins or the amount those who want to buy coins are willing to pay for that item.
Step 3: Create Quality Listings
Using the information and grading on coins, you must list your coins carefully and honestly. Describe the actual condition of the coin and its unique features that could affect its value.
If there are scratches or surface damage, you must add that to the listing description.
Accurate descriptions when you sell coins could help you establish a good reputation as a seller. On the other hand, it’s a bad idea to claim that the product is in a better condition than it is in the hopes of listing it for a higher price.
Step 4: Take Accurate Photographs
Using accurate photographs of the coins is better than stock images. You can realize top dollar on coin listings when you use a decent camera and take high-quality photos with your listings.
Even if the surface damage is visible in the photos, it’s okay. Some buyers are after the coin’s value and can deal with the slight imperfections. Some buyers are more invested in the mint mark over the condition of the old coins.
On the other hand, poor quality photographs can make your listings unappealing. You must include more than one photo in your listings to give your buyers a chance to examine the coin closely.
Step 5: Choose Your Listing Type
The next decision is whether to create fixed-price or auction-style listings for coins. It would help if you determined the price of coins based on their estimated value when you create a fixed-price listing.
On the other hand, you can choose auction listings for coins and set a starting price or bid. You can also combine your auction listings with a Buy it Now option.
For the Buy It Now option, you must set the price for the coins, which means the buyer willing to purchase the coin must pay for the amount you’ve set.
When listing, you should also include how you want to receive payment. It is crucial for some buyers as they want to know how to pay for the item and if the payment method you accept applies to them.
Step 6: Special Reminders When You Ship Coins
Coins might be made of metal, but they could incur damage during shipping. Therefore, you must take precautions when you ship coins to avoid damaging the item.
Secure the coin in a coin flip or padded envelope. It will protect the coin during the shipping process and keep the condition intact when it arrives at the buyer’s location.
You can also use bubble wrap to secure coins during shipping additionally.
Top Selling Coins on eBay
Are you interested in selling coins on eBay yet? Let’s explore the best-selling coins on eBay right now to help you craft the perfect listing that would make a sale.
American Eagle 1 oz. Fine Silver .999 US Mint Silver Coin
The top-selling coins on eBay in the past 30 days are from a US-based seller. The seller has sold this item 192 times in the last 30 days with a lifetime sales 12,602. They have listed this product for $33.47.
Meanwhile, we’ve examined this product using ZIK Analytics, and it has a sell-through rate of 571% with 84 total listings. There are 480 products in the last 30 days and total sales earnings of $135,204.
Tube of 20 – American Silver Eagle Coin BU
The following product we’ll examine is the American Silver Eagle Coin, sold in a tube of 20 coins. This product has a listing price of $549.80, with 184 items sold in the past 30 days and lifetime sales of 960 pieces.
Now, let’s look at how well this product is doing on eBay based on other eBay sellers’ sales performance. Despite having only ten listings for this product, the sell-through rate is impressive at 4,110%.
The successful listing rate is 50% for 411 sold items. The total sales earnings in the past 30 days is $380,359. Given the impressive numbers, these coins will be highly profitable, with an average product price of $1,084.28.
$1 American Silver Eagle Coin
Finally, look at this listing with 148 sold items in the last 30 days and lifetime sales of over 6,000. This product is listed at $33.07, and it’s currently among the trending products on eBay.
Further analysis of this product with our product research tool validates the demand for this product. It has a sell-through rate of 1,191% and a successful listing rate of 26%. The sales earnings in the last 30 days are $1,026,505.
Final Thoughts When Selling Coins on eBay
The coin market is potentially lucrative, so many eBay sellers want to sell coins online. However, it is a complex industry that requires knowledge and expertise, especially if you want to avoid selling fake coins.
Many counterfeit coins are in circulation. If you don’t know how to detect them, you could potentially sell fake coins on eBay, which could hurt your eBay account status or get it suspended.
Another potential risk is that you could underestimate the value of the coins, potentially losing money in the process. Therefore, invest time to learn about coins before you start selling them to maximize profit and sales.
What other items can I sell on eBay?
Wonderingwhat to sell on eBay?We have a few detailed guides that can help you on your way!
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