Selling Euro Notes / Coins on eBay - Any tips.?

Alias_Omega

Similar to this auction , we appear to have an excess of €uro notes / coins that we could probably sell on eBay.

It also appears that €uro notes/coins make good value, so a €50 note will normally fetch £48-50 on eBay (then minus the fee's), but the exchange booth will offer £40 ishy.

Can anyone offer any tips on listing this type of thing..?

Its something we have not done before, and dont want to be scammed the first time round.

What do you think.?

Pembroke

Well there seem to be quite a lot of successful sales if the sold search is anything to go by. The only thing that jumps out is a lot of sellers don't seem to be taking too much care with the postal rate they're charging as quite a lot are sending £50 plus of notes for first or recorded whereas they should be using Special Delivery to be fully protected. Only other thing you may need to look at is some countries don't allow currency to be carried through their postal services, none of the Eurozone countries though but if any buyers are from further afield then you may need to check the list on the Royal Mail website.

If you want to go ahead just read through some of the successful sales and emulate (copy) their methods, seems that the key words 'unused holiday money' are quite effective. If you're not sure or if there's a large amount them either split up the amount or experiment with a small amount first, a small amount would also keep you below the Royal Mail first class compensation rate of £41. A start price would probably be around the amount you would get at a Bureau de Change so you will need to research that.

Personally I just save Euro notes as most of my holidays are in Europe and all countries accept the same notes. If I go to the US I take the Euro's with me and exchange straight into the local currency.

GabbaGabbaHey

Bizarre - according to xe.com, €50 is worth about £42, so why would anybody pay £52 on eBay for a €50 note???

Also - I didn't think that there was any postal service that would insure you for sending cash (whether Sterling, Euro or otherwise). Am I wrong?

no-oneknowsme

why would you want to sell a 50 euro note on ebay anyway ?

Rather than pay a listing fee and final value fee , meaning that you lose some of the money , why not just nip into primark with the 50 euros....buy a pack of socks or something else of an equally small value and they will give you back your change in GBP:D

Pembroke

GabbaGabbaHey wrote: »

Bizarre - according to xe.com, €50 is worth about £42, so why would anybody pay £52 on eBay for a €50 note???

Also - I didn't think that there was any postal service that would insure you for sending cash (whether Sterling, Euro or otherwise). Am I wrong?

The rate quoted on XE is the bank rate, that £42 will only get you €47 on a tourist website like Thomas Cook. Then if you change it back again you pay yet more commission so it may be more economical to do it this way. Something else for the OP to look at is the various exchange rates to change up and down.

Primark might sound like a good idea but their exchange rate will be even worse than Thomas Cook.

soolin

Pembroke wrote: »

The rate quoted on XE is the bank rate, that £42 will only get you €47 on a tourist website like Thomas Cook. Then if you change it back again you pay yet more commission so it may be more economical to do it this way. Something else for the OP to look at is the various exchange rates to change up and down.

Primark might sound like a good idea but their exchange rate will be even worse than Thomas Cook.

It still might be better than losing the ebay and paypal fees. Selling something for £50 will cost £5 FVFs and assuming special delivery used at a cost of £5.05, paypal fees will be approx £2.25 plus listing fees.

no-oneknowsme

My DD received a 50 euro note and we took it into Primark . On the day we got an exchange of something like £43 for it.

Not bad considering (as Soolin quite rightly points out) it will cost you 50p to list it on ebay , £5 fvf , £2.50 paypal fees , £5.05 to send the euro note in the correct and safest manner to the winning bidder.

Makes a total of £12.55 just to list/sell the note.....

Do you not agree that a trip to Primark would be more cost effective ?

Alias_Omega

Primark - do they simply give you the cash back or do you get given a credit note, then you have to spend something in the shop.?

Ideally i would want the cash in my hand, or in the account via paypal etc..

no-oneknowsme

Primark give you the cash back in GBP.

Myself and my DD took DD's 50 euro note into primark and bought a pack of trainer socks at £1.00 , the primark cashier then gave us £41 change (in cash , not credit note)

Their tills do the conversion for them and the cashier didnt bat an eyelid when i handed over the 50 euro's.

To me this is the easiest and most logical way to change the note. Spend £1 and primark and you walk away with £41...sell the note on ebay and you have £30 (after fee's and postage).

macfly

The easiest way to get rid of euros is to sell them to someone local who is going on their hols.
Many of the tips given in my local hotel are in euros. I used to buy them at a better rate than they would get from the high street as I travelled a fair bit then.