just announced: Replacing the Coin Catalog and Other Category Changes
eBay will replace its US Coins catalog with a new catalog provided by Professional Coins Grading Service (PCGS).
Wonder if PCGS will get a fee for this
eBay to Use Third Party Grading Service to Power Coin Catalog
By Ina Steiner
July 24, 2013
eBay will begin using Professional Coins Grading Service (PCGS), a division of Collectors Universe, to power its U.S. Coin catalog. Steve Sloan, Director of Marketing for Collectors Universe, said the change would quadruple the number of listings available in the new eBay catalog in September, when the change rolls out on the site.
Catalogs on eBay are extensive online libraries of product information and images. They enable sellers to list faster using pre-filled product information.
The move follows several initiatives eBay took last year in an attempt to reduce fraud in its coins category. eBay banned listings for replica coins effective February 20, 2012, and eBay restricted grading companies to PCGS and Numismatic Guaranty Corporation (NGC), effective May 30, 2012.
For those interested in learning more about eBay's reason for the latter policy, Coinweek published a video on YouTube of a talk given on April 18, 2012, by eBay General Manager of Emerging Verticals Gene Cook about the restrictions.
As for eBay's decision to use the PCGS catalog, it will be a major move toward standardization, according to Sloan. The new catalog will make it faster, easier and more professional for eBay sellers to provide more detailed images and listings. It will save them time and headaches in terms of including correct information, he said.
Several eBay sellers we spoke to said the move was a positive one.
Lewis Burchett, who sells on eBay under the name honestyplus, said something must be done to reduce or eliminate the counterfeiting of both coins and slabs. "If this catalog change helps, then all the better. The coin community of buyers and sellers on eBay do a pretty good job of ferreting out the bad guys, but some standard must be available to make the job easier."
Burchett is a member of the American Numismatic Association as well as a PCGS member for submitting coins and currency for grading. He sells coins on eBay but it's not his main listing area. (He's also a listed dealer member of the American Philatelic Society.) "In the final analysis, there will be some who will lose their niche position in selling on eBay; and we shall hear from them vociferously," he said. "In the long run the catalog changes will be beneficial. If eBay has suffered from the reputation of allowing "bad" sellers to predominate in the past, how can we fault them for their attempts to improve that image with concrete and credible steps such as this?"
Bob Willey said he didn't know the reason eBay was partnering with PCGS, but said since PCGS was a "great standard in Coins," it would improve the quality of listings and also of what can be listed.
The eBay PCGS Coin Catalog Is Coming Soon: How It Will Benefit Sellers And Buyers
- August 12, 2013
Professional Coin Grading Service is teaming with one of the world's largest online marketplaces, eBay, to expand the eBay U.S. and Canada Coins Catalog feature to benefit sellers and buyers. When the new catalog from PCGS goes online this fall it will immediately grow from the current 8,500 products to more than 41,000.
The renewed U.S. and Canada coins catalog will allow for more detailed descriptions of specific coin attributes, as well as further differentiation for the collecting community. These detailed descriptions, item specifics and high resolution images in the catalog will allow novice and experienced sellers alike to more accurately identify the coin they are selling on eBay.
"We are providing eBay with expanded structured data that will essentially quadruple the number of products in the eBay category and improve the standardization of listing information across the category," said Don Willis, President of PCGS, a division of Collectors Universe, Inc. (NASDAQ: CLCT).
"Listing with the new eBay-PCGS catalog will be a fast and easy way to create professional, detailed listings and make it easier for buyers to find exactly what they are looking for. Sellers will benefit from detailed product descriptions and the high-quality imagery available in the eBay catalog," said Willis.
The change in catalog provider is expected to occur online in September and detailed information will be available before then for sellers who want to participate.
"More than 560,000 U.S. coins are now listed on eBay with items ranging in value from under $1 each to more than $3 million for an Ultra High Relief Lettered Edge 1907 Saint Gaudens Double Eagle graded PCGS PR69," Willis noted.
"We anticipate more sellers will begin using the U.S. Coin Catalog to list their coins when we introduce the expanded version this fall. "
Sellers will be able to create their listings more quickly and easily, and they can automatically include information from the catalog.
Steve Sloan, director of marketing for Collectors Universe, said the expanded coin catalog will permit users to easily identify information for the items they want to sell.
Sloan said the branding initiative positioning “PCGS as the premier grading service” will ensure the PCGS content is in front of eBay users, both sellers and buyers.
The PCGS coin catalog is being provided to eBay under a special licensing agreement, details of which are proprietary, Sloan said. The information offered will be standardized, using PCGS tracking numbers for each coin series and specific coin, he said.
Sellers of coins on eBay are not required to use the PCGS catalog; the PCGS coin catalog enhancement is a listing option.
“Listings can be kept as-is, no changes will be required from sellers,” eBay officials said about auction listings that are active when the new catalog goes live. “If a seller wishes to adopt the new catalog products, he or she can revise or relist an item and choose one of the new and more detailed catalog products that describes his or her coin.
“Sellers that have previously adopted products from the Krause catalog will still appear on eBay without changes. The buying experience will be the same after this change with the same filtering options already provided.”
Officials at eBay also addressed listings for coins that are certified by an eBay-approved grading service other than PCGS.
“This catalog is grading-agnostic, so all coins will be treated equally and appear on search equally,” according to eBay officials. “There will be no ‘Grading’ information in the detailed product information included in the new eBay US Coins Catalog.
interesting comment from the PCGS coin forum on this:
"I think this might give a boost to sellers who carry PCGS slabs and may hurt sellers of other TPGs ..."
That could have huge ramifications for PCGS