In the past 20 to 30 years, India has been home to a wide variety of e-commerce platforms, each of which has had a considerable impact on users because of their distinctive features and methods of operation. Yes, we are talking about eBay.

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This platform offers an auction feature that enables users to sell their vintage and one-of-a-kind goods for a great price. Most of us have an interest in collecting old and historic items because they are now very rare in this contemporary world and are worth a good amount of money.

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Given that it operates in 32 nations, eBay will undoubtedly have a sizable user base. In this article, we'll talk about how to sell old coins using the eBay commerce platform. We'll go over all the necessary steps, such as how to register for an eBay account and create a listing, and many more.

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What Is eBay's eCommerce Platform?

eBay is an online marketplace and auction company that only makes it easier for buyers and sellers to transact business. Visitors to the website look for goods they want to purchase from a huge selection of individual vendors, and they then place bids on those goods in separate auctions.

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The worldwide e-commerce company with its headquarters in the United States, eBay, enables both business-to-consumer and consumer-to-consumer transactions on its platform. Pierre Omidyar established it in 1995.

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By operating in around 32 countries as of 2019, eBay has a well-established organizational structure, demonstrating the platform's considerable success over the last ten years. From the perspective of the consumer, the platform is free to use, but if you want to register as a seller, you will need to pay a set sum as a fee.

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The platform also manages an online auction feature and offers shopping platforms to suppliers and consumers where people can sell and buy a variety of goods and services. One of the most practical websites with an easy-to-use layout is eBay, which offers consumers a relatively straightforward registration process. Old coins and notes, electronics, and other objects with good value for money are just a few of the things we can sell using action.

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Seller Registration Process Or How We Can Register Ourselves As A Seller On eBay

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If you might have acquired coins or collected them, selling them on eBay is a simple method to get money. It's as simple as creating an account and mentioning your coins for sale, and that's it. 

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Inspect and evaluate the coins to get their approximate values before you start. Then, take action to publish a quality listing by, for example, photographing each coin and outlining its condition. 

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Selling coins can be very financially beneficial, particularly if you have a valuable collection. These are the steps you must take to register yourself. If done properly, you might even generate more revenue than if you sold coins in person.

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1. Create a free eBay account

You must first establish an account to begin working on eBay. You already own one if you've ever made an eBay purchase. You can convert it into a supplier without taking any more action. Take more time, though, to complete your account profile, including choosing any payment methods you intend to use.

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Creating a profile is easy. To keep records of the entries, you should enrol with your name and email address. You should use a new email address so that you can receive order details separately on that email. To register on eBay, there are no such onerous requirements, which gives the site extra advantage in terms of popularity.

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2. Read up on the transaction fees that eBay levies

The most crucial element is transaction fees because they will determine your profit margin for the product you are selling. Read up on transaction fees thoroughly so that you can pick the most practical plan for your needs.

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You are allowed to list up to 50 products for free each month as a merchant. Following that, you must pay a $0.35 USD listing fee. Since eBay deducts a commission of 10% from every sale, the transaction fee is where the majority of the cost is incurred. The closing charge is based on the price at which your coins are sold.

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Remember that there may probably be charges associated with whichever payment method you use. Additionally, there may be a sales tax in some places, which is automatically taken when a user pays for your coins. Sales taxes vary depending on local regulations, but you can ask customers to cover them.

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3. Create a payment account to hold the proceeds of your sales 

PayPal is the most convenient method of sending and receiving payments. Since PayPal is possessed by eBay, it is tightly intertwined with the platform. It enables clients to make direct payments to you via their payment account or a linked payment mode, such as a bank account, credit card, or debit card.

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Go to your eBay profile and connect your payment information. Additionally, you may allow customers to pay with a credit or debit card. You must open a merchant account in order to accomplish this. If you intend to operate a shop or sell a lot of coins, it is something to take into account.

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4. Increase your revenue by generating some favourable feedback

Your approval rating is crucial to effectively sell coins. The majority of customers check your rating prior to making a purchase. Sell your least value coins initially, or make a few eBay transactions to improve your reputation.

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After that, the other party might provide feedback and a star rating, which could help you sell more coins. Buyers are frequently cautious when they deal with fresh accounts since counterfeit currencies are sold through eBay.

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People are more likely to purchase from you if you have a good reputation and a lot of positive reviews. The rank system takes into account the product's description's precision, the quality of the interaction, and how rapidly the item was delivered.

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Listing The Coins 

1. Identify the coin you want to sell

Firstly, choose the coin that you want to sell. If you don't know what kind of currency it is, you will not be able to adequately describe it for sale. If you are unsure of the type of coin you have, you can check the following data about the coin. 

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Start by looking at the date, mint mark, and other obvious characteristics on the coin. To gain a sense of what you have, try using a book like the Standard Catalogue of World Coins. If you need assistance, you can also ask a dealer or post to an online coin club.

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Searching auctions for comparable coins is an additional strategy for making the selling process an easier task. See how much people are willing to pay for the mentioned coins about your own. Then you can decide whether you want to sell it or not.

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2. Grade the coin to find it's worth 

Determine the coin's value by grading it. By evaluating a coin's appearance, you can easily find out its worth of the coin. Grading is a method of assigning a value to the coin by looking at its appearance. The higher worth of a coin is based on its appearance and the worth is diminished by damage.

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You can invest in a guidebook or search online for grading guides to determine a coin's value on your own. For a more precise estimation, you might also take your coin to a certified grader. For instance, to grade American coins people usually apply to the Official ANA Grading Standards for United States Coins.

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Contact a company like the Professional Coin Grading Service if you believe a coin is valuable, such as worth more than $200. (PCGS). When you advertise the coin for sale, you can use the official grade they provide as evidence to prove that your coin is worthy enough to be sold at a higher value. 

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3. Take clear photos of the coin, you are planning to sell

Take precise, clear pictures of the coins you intend to sell. With every eBay listing, you create, you have space for 12 photographs to be shown without charge. Use this to your advantage by displaying a coin from various perspectives, angles, and sides. Take clear shots of the coin's front and reverse. 

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Also, don't forget to capture the ridges and other small and minute details as these details can make your coin more worthy, or they can even depreciate its value. Make sure the images accurately represent everything, these will be the pictorial representation of what clients will receive if they choose to purchase your coins. 

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While using a phone to take images is acceptable, think about renting a good camera. It may result in images of greater quality, increasing your likelihood of closing a transaction. Take crisp and clear photos in good lighting. Display blemishes, stains, scratches, and other damage on your coin.

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4. Write a good and informative description of the coin

Give each coin you are trying to sell a thorough and descriptive explanation in writing. Tell the people a little bit about the coin's history. Mention the coin's official name first as it is the most important thing, then the year of the coin and the location of its minting. 

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Describe the coin's appearance and any damage or scratches you see. Be as truthful as you can, as that will help you get a clearer picture of the worth of the coin. You may say, for instance, "Wheat penny from 1909 without a mint mark. It has a dark colouration on the reverse and a minor scratch on the president’s cheek."

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To guarantee that the coin is authentic, buyers check for precise descriptions. If you had it graded professionally, mention that as well and with evidence if possible to give the description more strength.

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5. Describe your return policy

Include a description that details your return policy. If you want all the sales to be final, make it crystal clear that you don't accept any kind of returns. You can stop customers from bringing back damaged or fake coins by refusing to accept returns by clearly mentioning it in your return policy. 

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If you want to accept returns, give them a 12-30 days window from the day the transaction is completed. Inform the buyer that shipping and packing of the coin are their responsibility. By appropriately marketing your coins, you can lessen the possibilities of return requests from your customers.

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Customers are significantly more satisfied when products have clear images and descriptions and when the product is delivered as it is shown in the images. Remember that the return policy is not an excuse to sell coins that are fake or have been misrepresented. To get a refund from eBay, the buyer can file a complaint.

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List The Various Payment Methods

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List the methods of payment you intend to accept. Specify how you plan to complete the sale. Typically, PayPal, eBay's payment system, is used for this. Inform the customer whether you set up a merchant gateway to accept credit or debit cards. 

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Each listing you upload includes a payment option. Since PayPal is legitimate and safeguards both buyers and sellers against scammers, it is often the best option to make a transaction and most people use it due to these reasons. 

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By demanding payment at pickup, a transaction might be completed unconventionally. You could deliver the coin to a customer if they reside close enough. To avoid scammers, you should still request PayPal or a credit or debit card. 

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Mention A Shipping Price You Can Pay

Choose a shipping price that you are prepared to spend.  eBay calculates the shipping for you when you list coins for sale. Depending on the buyer's location, you might charge a set delivery fee or one that varies. The most advantageous choice is determined by the coin's value. 

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Plan to charge the buyer for insured shipment for more expensive coins, such as those worth more than $200. Consider selecting a free shipping option if you're buying low-value coins. Although you will be responsible for the shipping costs, it's a good method to get people to notice your ads.

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You might also add a small surcharge to your coin prices to cover the cost of delivery. Try choosing regular economy delivery for midrange coins up to roughly $200.

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What Determines The Value Of Old Coins 

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The coin's condition and place of origin are key factors in determining its value. To estimate the value of your coin, compare it to listings on the internet or in a coin value book. The market interest in a coin determines its value. 

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Rare, mint-state and commemorative coins are more valuable than regular coins. Join a numismatics forum to inquire about the worth there, or go to a coin show or an appraiser to have it examined and valued in person.

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1. Determine the provenance and year of the coin.

To ascertain a coin's actual value, you must be aware of what kind it is. On the face or back of most old coins is a date of issue printed. They'll likely additionally mention the nation of origin. Some feature additional useful information, such as a mint mark (a tiny letter printed somewhere on the coin that indicates where it was minted). 

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Consult a world coin reference book or website if the text on the coin is written in a language you are unable to read. These will have pictures that will help you identify your coin. You can use these guides to calculate the age of coins without a printed date as well.

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2. Determine the coin's condition by looking at it.

The condition of a coin has a big impact on its value. Coins with blemishes or dirt are typically less valued than those with higher quality. Uncirculated coins are those that have never been used. Do not attempt to clean a coin that you believe to be rare or precious yourself. 

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Bring it to a professional so that it can be cleaned without being harmed or losing value. Eye attractiveness is not the only factor. A coin might only be worth the metal value if it is substantially broken.

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3. Check coin value lists online.

Some websites will make values for some coins freely available. Check with a professional organization like the Professional Numismatics Guild. Look up your coin according to its date and origin, and you may be able to find its current value.

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Several factors (including condition and current demand) impact the amount a coin can be sold for, so use the value you find online only as a ballpark figure.

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4. Look up coin values in a book.

Consult a reference like the Standard Catalogue of World Coins or the Guide Book of United States Coins if you can't locate the value of your coin online. These sources are particularly helpful because they may provide multiple values for a given coin. The price at purchase, the price at retail, the retail price. 

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5. Include any unique elements.

Coin values can fluctuate because they are determined by shifting interests. A coin's value may increase if enough people wish to purchase it. Common coins are frequently less valued than rare coins or coins in extremely fine condition. Finally, commemorative coins (also known as special issue coins) may be particularly valued. 

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When determining the worth of your coin, take these figures into consideration. You might possess a coin kind that is not particularly rare, for example. If it is in mint condition, which is uncommon for coins of that sort, its value may exceed the typical "book" value.

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Steps To Complete The Sale Of Old Coins On eBay 

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Step:1 Prepare for Auction 

To allow anyone to bid on your coins, set up an auction. eBay's signature bidding method can be costly to utilize if you're not used to it. After deciding on a fair minimum cost for your coins, watch for bids to come in.

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Consider pricing the coin a little lower than what you expect to get in return. You might notice the bids beginning to come in quickly if the pricing is reasonable and people find your listing.

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1. A lot of listings receive no bids. This might be the case if your asking price is too high. Sometimes in cases where a coin doesn't trade, the listing cost must be paid.

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2. If you intend to list over 50 coins per month, this might become an issue.

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3. Auctions involve risk. Sometimes a heated bidding war drives the cost up more than you anticipate, and other times coins receive less notice than you anticipate.

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Step :2 To keep coins for offer, use set price postings 

Decide on a price and then patiently wait for the coin to sell. Buyers can select the large "buy it now" tab on your listing to complete their transaction. Compared to an auctioned listing, there is less threat and upkeep required, But because there are so many listings, it also doesn't draw as much attention.

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The decision to look at fixed price listings may be resisted Because you can set the price low and watch people bid it back up, auctions are advantageous. They frequently believe they are going to obtain a better price because of the bidding procedure.

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1. Try utilizing set price ads for expensive coins that you don't want to haggle over since they are quite safe. If the coin doesn't sell straight away, just have patience.

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2. In order to showcase all of your coins for sale on your shopfront and manage orders as they roll in, fixed pricing listings are also helpful if you own an eBay store.

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Step: 3 Await the payment of the coin you listed from the buyer.

Keep an eye on your auctions or watch for a bidder. Both through your profile and via emails, eBay will interact with you. Deliver the coin gently; don't hurry. The transaction has been finished, and the money has been transferred into your business account, according to a second notice, which you should look out for.

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Step: 4 Pack the coin properly to protect it from damage during shipping  

Place the coin into a cardboard box or non-PVC coin flip to safeguard it from breakage while in transit. To protect it from water penetration, put it inside a trash container as well. Put the coin inside a padded envelope after being wrapped in bubble wrap.

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Add a note to the envelope's front to complete it. Envelopes and bubble wrap can be bought from shipping or office depot companies to reduce the cost of sending supplies.

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Step: 5 Before shipment, buy insurance

delivery of the package Important coins must be covered by shipping insurance to prevent loss, theft, or serious harm. For every purchase above $20, think about looking into your protection alternatives. A standard shipping option with insurance typically pays up to $50. For any coins valued $200 or more, purchase extra coverage.

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Things To Keep In Mind Before Selling Your Old Coins

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1. Choose the Right Moment to Sell Your Coins. The two finest times of the year for selling your coins are still around in January and around the summer in July or August, notwithstanding the internet's blurring of the traditional coin seasons. 

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2. This is accurate whether you decide to sell a coin privately, on consignment, or at an auction. When people are in the mood to buy coins, not when they are thinking about summer vacation or getting ready for the holidays, they are more likely to succeed.

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3. Sometimes you're fortunate enough to locate the underbidder who narrowly missed winning a coin with a world record. However, he was often an underbidder who might not have felt as comfortable at the level he was at a second time. Replicating a record price might be challenging for sellers. But wouldn't it be worthwhile to at least try it.

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4. You should leave your old holder coin alone and price it appropriately since it has the potential to go from a $2,000 coin to a $4,000 coin if it upgrades. Let the purchaser take the risk. But if you have a $2,000 old coin with a strong improvement that could be worth $10,000, you might need to regrade the coin yourself.

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Is It Legal In India To Sell Old Coins

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The 2011 Indian Coinage Act makes it illegal to sell currency for profit. "No person shall have in his possession, custody, or control coins substantially in excess of his reasonable necessities to sell such coins for value other than their face value, melt, destroy, or dispose of such coins other than as a means of exchange," the law states. Chapter 5, Section 12 contains this. 

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Anyone who violates any of the terms of Section 12 is subject to a fine and a maximum seven-year prison sentence, according to Section 13. Only a small number of coins are distributed to the general public at the central bank's headquarters. According to a representative of the Issue Department,

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How To Get Benefit From Old Coins

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As was already said, some coins are still valuable even if they are quite old. As a result, you can gain from them in several ways. For instance, the general rule is that, depending on their rarity and condition, you can sell your old coins for their actual value or even more.

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The Coin Expert states that if you have British coinage, you can ship them to the Bank of England, which will accept any banknote they have ever issued, regardless of when it stopped being legal money. This implies that you may always exchange your coins for their equivalent value in pounds with them.

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 Another option to profit from old coins is to invest in them because inflation increases their value over time. Selling vintage coins to collectors is another method to profit from them. If you have older or more valuable coins at home, consider selling or trading them with other coin collectors because buyers are always eager to pay top dollar for uncommon coins.

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Old coins can also be kept for their aesthetic appeal and sentimental significance as the last benefit. If they are made of priceless materials like silver, gold, platinum, etc., you may even turn them into jewelry and hang them on your wall or put them in a display case. Just go with it according to your wish.

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Conclusion 

If we come to a conclusion from this article, It would be that eBay is the most practical and well-organized website for users to sell their old coins through auctions and as well as from fixed listings. Additionally, The registration process and product listing are both incredibly simple on this eCommerce platform.

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