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Introduction to CoinSniper for Experienced Penny Auction Users

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(Not too familiar with the “Penny Auctions” or
Pay-Per-Bid auction format?
This version of this article might be better for you.
)

CoinSniper (n) – wise and skillful coin collector who has more fun and pays 50% or less for collectible coins

How to CoinSnipe:

CoinSniper Auctions are based on the Penny Auction format, so if you’re familiar with these kinds of auctions, you’ll know what to do. Here’s how to get started:

1. Register and Try out a Beginner Auction
After you register (within 24 hours), we’ll give you 10 free CoinSnipes so you can try out a Beginner Auction on us. When you need more, you can buy more CoinSnipes for less than 60¢ each using your PayPal account.

Beginner Auctions are the no-risk way to try out CoinSniper.com. Even if you’re a seasoned penny auction pro, we suggest starting here to try out the system and take advantage of zero reserve and one-time free shipping to snag a coin. And to lock down your first win (two wins needed to participate in Expert Auctions).

2. See what makes CoinSniper different
Once you get the hang of CoinSniping, look for more valuable coins in our Expert auctions, and take advantage of Bidding Bounties (free CoinSnipes given for all unsold lots) and CS Vault Credits (discounts for outright purchases in the CS Vault). Not sure what all this means? Check out the Auction Glossary. Why all the strange rules? Just like coin collecting, knowledge, experience, understanding and DETAILS make the difference between a good collector and a not-so-good one. This site is built for collectors who thrive on details and knowing how to exploit them! Take the time to get smart and you’ll get amazing deals.

3. Become a collector
When you’re ready to build your collection, visit the Numismatic Learning Center—our free resource for (almost) everything you could want to know about coin collecting.

For more information, check out this short video introduction and Rusty’s CoinSniping Tips.

All CoinSniper Auctions:

Bid Limit – the maximum number of CoinSnipes each CoinSniper can use per auction. Don’t run out too early! Bids do not count against limit until after the Hidden Reserve has been passed.

Hidden Reserves – the number of CoinSnipes required by all CoinSniper-bidders for a CoinSniper Auction Lot to get past to sell. Reserves are fixed at time of auction posting, usually one week before the lot is up for final bidding. They are calculated at random, so be the high CoinSniper-bidder no matter what! All CoinSnipes placed on auctions that do not pass reserve are refunded within 24 hours of the auction close, by the next day.

Bidding Bounty – FREE CoinSnipes awarded to the top CoinSniper-bidder when an auction doesn’t pass reserve. Awarded within 24 hours of auction close, by the next day.

Free CoinSnipes: Promotional FREE CoinSnipes that can be used for CoinSniper Auctions. These do not become a CS Vault Credits. FREE CoinSnipes cannot be used on Expert Auctions. Check here for current promotions to get FREESnipes!

CS Vault Credits: Didn’t win an auction? Your CoinSnipes become CS Vault Credits worth 10c to be applied to purchases in The CoinSniper.com CS Vault!

CoinSniper Auctions

Beginner Auctions
BEGINNER: Coin Name / Grade –
This auction is designed for those who have not yet won on CoinSniper.com and therefore only allows such registered users to bid. These auctions have no reserve and unlike all other auctions, no shipping fees.

Standard CoinSniper Penny Auction
Coin Name / Grade –
CoinSniper Penny Auction, open to all CoinSnipers

No Reserve CoinSniper Auction
NR: Coin Name / Grade –
Auctions labelled No Reserve have no reserve price set. Most CoinSniper Auctions have reserves. Regular CoinSniper “Penny Auction” for numismatic coins and supplies.

Expert CoinSniper Auctions

EXPERT: Coin Name / Grade –
For ALL Expert CoinSniper Auctions:
1) Win two regular auctions to participate (Beginner Auction counts!)
2) Bid before clock counts down to T – 1:00 to Qualify for final bidding.
bid early.
3) ALL Bids count against Bid Limit, regardless of Reserve Status.


Ante CoinSnipe Auctions (Blue badge)
– Multiple CoinSnipes required for your first bid ONLY. Free CoinSnipes cannot be used for first bid.

Multi-CoinSnipe Auctions (Green badge) – Multiple CoinSnipes required for every bid. Free CoinSnipes cannot be used.

Unlimited Auctions (Black badge) – No Spending/Bid Limit auction. CoinSniper Beware!

Shipping for multiple auction wins can be combined. USPS mailings are always delivery confirmation, always insured if the package is valued $20 or more. All packages valued $100 or more are sent UPS. All packages Bids on auctions that DO NOT PASS reserve are refunded soon after the auction’s end.

Except for in Multiple Bid Auctions, It is not possible for a CoinSniper to place multiple consecutive bids. In this way, if there is not enough interest for a coin, it will not sell. Also, this prevents CoinSnipers from accidentally losing bids.

DO NOT WAIT until “Taking a Chance…” to bid. You will almost certainly experience problems.

Payments:
All CoinSniper.com payments, whether for bid packs of over $1000 or for coins that cost the winner $0.12, are handled through PayPal. CoinSniper.com stores no user payment information.

 

Shipping:
Once you have paid for your item or items and shipping, the item you won will be shipped the following day with delivery confirmation to the address you provided in PayPal. You can see the items shipping status on the Won Items Status Page. It will show the zip code the item is being shipped to. You can confirm the shipment when you receive your item. You may consolidate shipping to save yourself shipping costs by having all of your winnings shipped once per week on Monday. You may also pay for shipping with unused bid credits. CoinSniper Recently Completed Auctions Page

Try CoinSniper.com out for free!
With this many free bids, you could potentially win coins shipped to your door for a significant discount! Your information is kept safe and private.

What is CoinSniper?

CoinSniper.com is a whole new way to have fun filling up and improving your coin collection.
CoinSniper is based on the “Penny Auction” format, similar to QuiBids.com or Beezid.com. You may have seen these Penny Auctions advertised. CoinSniper.com is, to my knowledge, the first Numismatic Penny Auction. I do not specifically selling bullion and I only sell numismatic coins and numismatic supplies.

CoinSniper is NOT a scam, like some penny auctions are. I work very hard for a modest profit. Every bidder you see is real and policies are strictly enforced.

CoinSniper.com is also a numismatic resource for beginning and more experienced collectors. The CoinSniper.com Numismatic Learning Center has articles that coin collectors can review. These articles were written by experienced coin collector Rusty Scropper (that’s me) and are there to share experiences and help you as you grow your collection and grow as a collector.

Why buy coins on CoinSniper.com?

First of all, it’s fun. As a coin sniper myself on eBay, I found a great thrill in winning coins in the last seconds of an auction. This site distills and focuses all that’s good about that experience. Just as with eBay, not every buyer can win every time, but the experienced buyer can use skill and knowledge to increase their chances of winning the coin they want.

Second, I’m genuinely out to make coin collecting less expensive for collectors like yourself and myself. Right now, there are good dealers, bad dealers, good coin auctions, and bad coin auctions. You have to really navigate your way through and learn a lot to know the good from the bad, and any way you cut it, the auction companies are making a fortune. I will never speak poorly about any auction company or any good dealer and the great businesses they have built, but I wanted to make a fair, viable way for collectors to get coins and have fun doing it. CoinSniper.com is my answer.

When you look hard at the business model, it is modestly profitable. I started CoinSniper.com with the goal of helping coin collectors have more fun, and personally to improve my coin collection over time while being productive in a field I enjoy considerably.

How does it work?

You can start by reading this article about How CoinSniper Works.

If you want to improve your chances of being successful, you can read my CoinSniping Tips. You should also read my Technical Recommendations.

In the end, it’s a lot like eBay in that smart buyers have the advantage. Just as any auction, buyers are competing against each other to win coins. Like the typical auction format, there is no fixed end time for an auction (as there is on eBay). Just as a traditional auction, when a bidder places a bid the auction is extended for a short time until there are no other bids. Unlike the traditional auction, you must pay a small amount for each bid you make. Once the auction ends, your coins are shipped out to the winner (hopefully you).

The cost of shipping is paid by the CoinSniper (bidder). In order to make sure you see every bidder is real, you can view the Recently Completed Auctions page. I wouldn’t bother to do all this work if it wasn’t for real. It’s a lot of expense and a lot of work!

You may wish to read about the CoinSniper.com Satisfaction Guarantee and my Statement of Ethics.

Beginner Auctions

Each CoinSniper is allowed to win 1 no-reserve beginner auction. This allows you to get something without much effort and it allows you to understand the CoinSniper process without having to go “all-in” on a coin. It’s entirely possible to pick up not just one, but two, three, or even four coins with your first bids if you study and really learn the system well. Those that don’t figure it out will probably go away unhappy – but all of the information you need to make good decisions and CoinSnipe well is here, available for free on this site. The rest is up to you!

Once you’ve won your beginner auction, you’re not allowed to win another one. If you see a coin in a beginner auction you need for your collection, contact me, Rusty, with your want list and I’ll make sure I make one available to you.

Beginners may bid on any auctions they wish to bid on.

CoinSniper.com is not a “fire and forget” type of auction. While there is no requirement that you be on CoinSniper.com ready to bid when the auction ends, your chances of winning are nearly 1000% higher if you do log in for the end of the auction. If you’re not around for a regular (non-beginner) auction, you’re almost guaranteed to lose all of your bids placed.

Someone wins a non-beginner auction – and I’m talking a nice coin or something here, too – with a single bid. This isn’t enforced, it’s not planned, it just sometimes happens. And I’m very excited for the winner! Also, about once a week, a bidder goes nuts for a coin, uses up a ton of bids and doesn’t get anything. Be the latter, not the former! I want everyone to have fun improving and growing their coin collection.

Reserves

Non-beginner auctions have a reserve of $0.03, $0.05 or $0.10 – $1.80, $3 or $6 if you buy “Wiser” bids. Shipping, always parcel post, always delivery confirmation, always insured if the package is valued $25 or more, is a minimum cost to me about about $4.80. Bids on auctions that DO NOT PASS reserve are refunded within 24 hours of the auction’s end.

It is no longer possible for a CoinSniper to place multiple consecutive bids. In this way, if there is not enough interest for a coin, it will not sell.

DO NOT WAIT until “Taking a Chance…” to bid. You will almost certainly experience problems.

Too good to be true?

Definitely not. The nature of the business is that many buyers lose and few win. You can favor your odds with patience, common sense and by reading the CoinSniping Tips. If you learn to be good, you can get great coins with very little investment. If choose to not learn the system, your competition, or your coins, you will not often come out ahead.

Read about other user’s experiences:
CoinSniper Reviews from winning bidders

More about Rusty:
R. Scropper, Numismatist

Rusty’s Facebook Page

Rusty’s Live Auction Updates on Twitter

Get CoinSniper.com News & Updates by E-mail


 

 

CoinSniper.com Stats

Approximate Number of
Unique Qualified Registered Users: 794

Shipments Sent: 864

Unique Customers Sent Shipments: 243

updated 4/9/14