This is because in order to sign up to the website, users do not need to put in valid bank or PayPal details before making a bid. The most eBay can do is add a note to the buyer's account about the unpaid item or remove their ability to bid and buy. In its terms and conditions, the auction website states that bidders enter a “legally binding contract to purchase an item”, but there’s no way to enforce this rule in reality. Remember to set a minimum price that is higher or at the very least equal to the face value of the coin.Įven if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will cough up. If you want to sell the coin you’ve found in your spare change on eBay then you need to know the risks. They usually deal in very old coins but they may be able to help you assess whether it’s worth selling your coin at auction or whether it would be valuable to a collector.
If you’ve got a coin that you would like to sell at auction then you can contact a member of the British Numismatic Trade Association. Once you’ve found out whether the coin is real or not, you have a number of options - either selling it through a coin dealer, at auction or on eBay. These are often deemed the most valuable by collectors.
