eBay Announces New Changes for Coins Listed in Auction
Gene Cook, eBay General Manager, Emerging Verticals eBay has announced new changes in the requirements for US coins listed in auction.
This is part of a continuing effort to increase the safety and quality of service for buyers and sellers using the eBay auction platform.
This announcement was made at a board meeting of the Professional Numismatists Guild (PNG) held at the Central States Numismatic Society (CSNS).
These efforts are intended to increase the quality, price and value levels of coins sold on eBay.
Copyright © CoinWeek – April 2012
Central States Numismatic Society Convention
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Reaction to the eBay announcement has been varied and swift on the various messages boards and on the CSNS bourse floor.
ANACS posted the following message on their website addressing the concerns of their clients who may be impacted by the eBay changes
To our valued customers:
Many of you have contacted us about the email sent out by eBay regarding changes in their coin listing policies that specifically impact sellers of ANACS graded coins. We want to assure that you that we are absolutely confident that this issue will be addressed by the May 30 deadline that eBay has established. We would also like to take this opportunity to address some of the specific questions that have been raised, and to share with you what we are working on, which we believe will ultimately be of benefit to you.
· In its email to sellers of coins, eBay mentions “certain objective standards” that are required of coin grading companies. We were not made aware of these standards until April 17th – the very same day that eBay chose to notify its sellers of the change. Now that we have been able to review these standards, it is our contention that we exceed every standard that has been set, with the exception of what we consider to be a single technicality.
· Of the six standards that we have seen, we feel it is important to stress that we exceed any standards set with regard to the expertise of our graders or the quality of our service.
· Of the technicality mentioned earlier: eBay is requiring grading companies to “enable online verification of unique serial numbers.” There are two things we would like to make clear: 1) ANACS does offer verification of unique serial numbers, but has not made that service available online as of yet, and 2) ANACS is, in fact, in the final stages of making serial number verification available on our web platform.
ANACS appreciates that eBay is taking steps to protect the coin community from the actions of unscrupulous sellers and questionable grading practices. It has been our company’s mission to protect the integrity of our hobby for forty years! As stated earlier, we have no doubt that this issue will be addressed in such a way that you will not be affected by this policy change, and we are hopeful that we can work with eBay to do even more to protect both buyers and sellers of coins.
Please feel free to email or call me with any questions you may have.
Vice President of Customer Relations and Marketing
CoinWeek will have continuing coverage of the ebay changes with several articles planed and additional Video interviews from dealers and collectors at the CSNS convention floor……… Stay Tuned !