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Overview
USCoinlots provides an online environment for sellers to sell individual coins to customers for a pre determined price established by the seller.
Collector's can browse USCoinlots inventory and place a single order for one or more coins from one or more sellers. After an order is complete and payment has been made to USCoinlots, sellers are notified via email that they have an order to fill.
Sellers are expected to fill and ship orders within 5 business days of receiving an order notification.
Loading your coins
USCoinlots provides a fully loaded database of United States coins. USCoinlots will enforce a minimum price for all coins. The minimum price will vary depending on denomination and coin type.
When loading coins you will be expected to load a selling price, condition and the quantity available for that condition and price. You may also enter any qualifiers the further describe the coin that the condition alone doesn't describe. Further notes can also be added and when the selling price is over $5.00 you can also add pictures through the coin update screens.
Setting up your profile
USCoinlots allows sellers several options when it comes to postage rates, volume discount rates and how sellers want to be reimbursed for sales on USCoinlots.
Postage rates:
Postage is calculated based on estimated weight of the package you are sending. USCoinlots calculates the weight of the package based on the weight of the coin(s), the cardboard holder used to protect the coin(s), and assumes that you will ship the order in a standard sized bubble mailer. Your shipping methods may vary based on your preferences and the value and number of coins being shipped, but this is the universal way the USCoinlots estimates shipping weight.
You will then be able to determine your own shipping rate based on the estimated weight of the coins shipped. You will probably need to adjust this over time but when you sign-up to become a seller, you will need to set up your shipping rates at that time. Shipping costs include delivery confirmation and insurance costs if you deem it necessary to use these optional features when shipping your packages.
Volume discounts:
Filling coin sets can be a costly task for collectors. Sellers have the ability to set volume discount rates to make this cost for collectors more affordable.
When selling lower priced coins, the majority of the cost to the sellers is the time to sort, inventory and pull the coins for the collector. In many cases, this cost is more than the actual value of the coin. This cost is greater when there are many single coin orders versus fewer very large orders. Volume discounts save the seller time and this can be passed on to the collector in the way of volume discounts.
Volume discounts are set-up to allow the seller to set a percentage off the entire order for different quantity ranges. For example, a seller may offer 5% off for orders between 10-25 coins and 10% off for orders between 25-50 coins.
This must be set-up during the seller set-up process. If you don't wish to offer volume discounts, just enter 0.00 for each category. You will be able to update your volume discount rates at anytime.
Getting Paid
Early each month, USCoinlots calculates seller payments based on orders filled the previous month. When calculation has been completed, USCoinlots will send payment to each of the sellers. Sellers recevie 100% of the postage they charged and USCoinlots deducts a fee based on a percentage of sales for the month. This percentage varies depending on the amount of sales generated that month. The higher the sales, the lower the percentage.
See Fee Structure for more information about selling fees.
Sellers can get paid 3 ways:
1)Paypal payment: Regardless of amount, the seller will be paid each month
2)Check: If the sellers total amount is over $25, USCoinlots will cut a check to the seller, otherwise the amount will be put in credit. Any amount in credit can be used immediately to purchase coins on the site, or can be cashed out once the total in credit is greater than $25.
3)Credit: If this is selected, the sellers total will go into credit. You can use this money at anytime to purchase coins, or once the total amount is over $25 in this credit, payment can be requested via check or Paypal.
Before you can sell on USCoinlots, you must first register on USCoinlots. If you are already registered or if you are registered on Sportlots, sign in on the left hand side of this screen.
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