Starting to Collect Coins? eBay is the Place to Start!

Often you hear about how eBay is not a great place to buy coins or even start a collection for that matter. However, without giving it a try one never knows. As I was starting my coin collection a couple of years ago, I really did not have any coin dealers in my area, so naturally I went to eBay. Not only did I want to start a coin collection, I wanted to by a coin buyer, coin collector and coin dealer.

Let me tell you, several years later all those things I wanted to do came true. I bought a book about coin collecting at Chapter’s and buy chance I saw a coin which I really liked. It was an 1831 British Penny. I liked it because of its size, design and how much it could potentially by worth. So, I went to eBay and searched for that particular coin. Low and behold there was one, selling for $ 19 U.S. including shipping. I put the bid in, and won the coin. A few months later I started a coin store on eBay, and put that particular coin in my store for $ 65, plus $ 10 for shipping. I gave a great description and a very accurate picture. Three days later, the coin sold, and I realized almost $ 46 in profit, minus of course the eBay fees.

A few months ago I acquired a 1999 1/10 ounce gold maple leaf, one of my favorite coins. I paid $ 123 dollars for it. Two weeks later I put it up for auction for seven days with a starting bid of .99 Cents. I could not believe my eyes when the final bid came in at $ 534.

Search around eBay and you will find great starter coins,barber dimes, silver Morgan dollars and buffalo nickels, all of these can be bought for very reasonable prices. So before judging, check it out for yourself and make you own decision.