☆ Is it safe to buy gold from eBay?

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While there’s nothing inherently wrong with buying from eBay, it’s essential to acknowledge that most coins listed there come with a higher premium. This is because the seller, eBay, and PayPal all take their share of the transaction. For instance, if a seller offers a sovereign on eBay for $550, it might be available for $520 on their own website.

Buying gold on Ebay, the safe way.

buy from major vendors on eBay, which can offer the same quality and authenticity.

Opt for reputable dealers rather than individual sellers. Dealers like Bullion Exchanges, Liberty Coin, Aydin, and others have positive reviews on eBay. Make sure that the purchase includes free shipping. eBay typically requires PayPal for payment. Also, ensure the seller has high ratings and is located in the USA to minimize potential risks

The initial attraction to eBay often lies in the potentially favorable pricing, but the concern of receiving counterfeit or fake items is a real one. To mitigate this risk, it’s generally recommended to stick with well-established, reputable dealers like APMEX, JM Bullion, and Bay Precious Metals. These companies have a track record of positive feedback, providing a level of assurance regarding the authenticity of the products they sell.

Benefit from using credit card for cashback rewards and protection.

The added advantage is that prices are often more competitive, and you can also benefit from using a credit card to earn cashback rewards. Additionally, the timing can be advantageous, especially when there are credit card offers providing cashback incentives, such as the current 5% cash back with certain cards.

Many reputable dealers on eBay accept credit card payments without charging extra fees because eBay covers the cost of credit card transactions. This can be advantageous, especially if you have cashback rewards, as it provides additional savings on premiums.
Additionally, there’s a layer of buyer protection from your credit card company, eBay, and the dealers themselves. It’s a smart strategy to buy from sellers with a 100% positive feedback rating and a substantial transaction history, as this minimizes the risk of encountering issues. Being knowledgeable about the typical cost of the item you’re purchasing is crucial, and if a deal seems too good to be true, it probably is.

Checking reviews for similar items and recent transactions, such as sovereign coins, is an excellent way to gauge the reliability of a seller. This way, you can gain more confidence in your purchase.

However, it’s essential to acknowledge that there are limitations to this approach, especially for buyers in Europe. Many of these major dealers do not ship to Europe, and even if they do, customs fees can add a significant cost to the purchase. This can make it challenging for European buyers to acquire precious metals at reasonable prices.

eBay is not for someone completely new to the world of gold.

The collective wisdom from experienced buyers on this topic is quite clear: when it comes to eBay and gold purchases, particularly from China, it’s advisable to err on the side of caution. The general rule of thumb is that if a gold item is shipped from China, there is a high likelihood that it may be a counterfeit. Furthermore, deals that seem “too good to be true” should raise red flags, as they are often linked to fake products. One notable concern is the practice of purchasing reviews, which is common in China. This can artificially inflate the positive feedback of sellers, making it even more challenging to discern between trustworthy and untrustworthy sources.

However, it’s important to emphasize that it requires a good understanding of the market and the ability to recognize when something isn’t right. Therefore, I wouldn’t recommend eBay for someone completely new to the world of gold and silver, as it can be a bit more challenging for beginners.

Liberty coin, good bullion US store.

Liberty Coin has earned a stellar reputation among our members.

with many attesting to the positive changes the company has made in recent years. Users praise the comparatively low prices, especially with a card payment, and commend Liberty Coin for securing less common items that might not be readily available elsewhere, such as gold pandas, gold libertads, fractional rands, pre-33 Indian Princess gold coins, and more. Shipping is highlighted as a standout feature, with quick and efficient delivery.

One forum member shares their experience of buying “random date” PCGS gold coins from Liberty Coin on eBay, noting that they received better dates than expected, at prices lower than other platforms. The positive sentiment extends to the speed of shipping, prompting a query from another member about the shipping timeframe after receiving a tracking number from Liberty Coin.

In terms of pricing.

,Liberty Coin is compared favorably to other bullion US dealers like SD, silvergoldbull, bullionexchanges, and monument metals, with opinions on the best prices bouncing around among them.

The discussion also delves into the benefits of using a 2% cash-back credit card when purchasing from Liberty Coin’s website or eBay store. Users appreciate that Liberty Coin charges only 2% more for credit cards on their site, making the net cost equivalent to using echeck/check/wire transfer after factoring in the cash back. The preference for using a credit card is attributed to the ability to dispute charges in case of shipment issues.

The emphasis on Liberty Coin’s legitimacy and reliability is reiterated by several members who applaud their fast and secure shipping methods. The requirement for a signature upon delivery, while seen as a downside, is deemed a reasonable security measure by many. A cautionary note is raised regarding a similarly named site, libertycoinservice.com, which is described as a “scam” with extremely detached premiums. Members are advised to stick to libertycoin.com for a trustworthy purchasing experience.

One user shares their recent order experience, placing an order on Wednesday morning, receiving the coin on the following Monday. The efficiency of the order process, quick payment clearance, and expedited shipping contribute to a positive overall impression of Liberty Coin.

I ❤️ Bullion Exchanges store on ebay.

Bullion Exchanges, particularly their store on eBay, emerges as a favored destination among enthusiasts due to its consistent reliability and competitive pricing. The flexibility of using credit cards without additional fees on eBay, unlike most other dealer websites, is a significant perk that draws buyers to this platform. Bullion Exchanges on eBay or their website, or their Manhattan store on 47th street are good spots to check out.

Furthermore, Bullion Exchanges and Liberty Coin stand out as the current cheapest online dealers, making them go-to options for price-conscious buyers. The convenience of cross-checking prices between these dealers ensures that buyers secure the most favorable rates. The eBay store’s efficiency in delivering orders discreetly and swiftly, coupled with protective packaging, adds to its appeal. While physical stores might have payment preferences, leveraging eBay purchases circumvents these limitations. Additionally, utilizing tools like FindBullionPrices.com aids in spotting lucrative deals, especially for fractional gold or larger silver bars. Leveraging cash back credit cards can further optimize savings, aligning with the aim to obtain competitive prices. Overall, savvy buyers capitalize on these nuances, employing strategies to net deals that often surpass the prices available directly on dealer websites, transforming their acquisitions into substantial savings.

Bullion Exchanges: Silver Unboxing and Review by Veteran Metals

Bullion Exchanges seems to be a mixed bag of experiences for buyers.

While their products are praised for their quality and appeal, there are quirks in their shipping process that can be frustrating. Some customers, living near their location, have noticed peculiar shipping routes where packages travel out of state before circling back to New York City. Additionally, the in-person shopping experience comes with a caveat; customers are required to meet a minimum spending threshold of $1,000 to avoid sales tax and extra fees, making it less accessible for smaller purchases. However, despite these logistical nuances, the quality of the pickups and the variety of offerings are commendable. Buyers appreciate the diverse selection, with specific mentions of Argentia for their attractive collection. Visiting Bullion Exchanges in the bustling Diamond District of NYC evokes an old-world bazaar vibe, filled with a myriad of precious metals and gems. One customer recounts their experience, expressing satisfaction with the friendly and knowledgeable staff, even though their preference remains with a local coin shop. Despite this, Bullion Exchanges’ eBay presence seems to have garnered favor among buyers, assuring secure and well-packed deliveries, which adds to their appeal and reliability in the online sphere. Overall, while there are some logistical and purchasing constraints, Bullion Exchanges manages to retain its allure through its diverse offerings and the reliability of its services, especially in online transactions.

Pinehurst Coin Exchange,

previously acquired slabbed items from this seller without any issues. The seller boasts a 100% positive feedback rating across 274,000 transactions, indicating high reliability. The items purchased from the seller’s eBay page were of high quality and arrived without problems. They also sends out emails requesting purchases of high-demand coins, which are limited sales intended for bulk grading rates—a practice the customer finds ethically questionable. Nonetheless, the customer experienced no issues and recalls fast shipping. Additionally, the silver products from this seller often have lower premiums compared to JM Bullion.

Negatives experiences when purchasing Gold on eBay.

Dealing with fakes on eBay could be even more challenging. Checking reviews and recent transactions is essential. When purchasing gold, always prioritize authenticity and take steps to verify the product’s legitimacy. Government-issued coins and established dealers are generally safer options. Be cautious of too-good-to-be-true deals and remain vigilant to protect your investment from scams and counterfeit products.

Sellers building up positive 100% feedback for scamming.

This is from one reader

Some time ago, I made a purchase of sovereigns from an eBay seller. Initially, this seller appeared to specialize in gold coins and had a relatively small but solid 100% positive feedback rating based on previous sales. My order arrived without any issues, and all seemed well. However, what I was unaware of at that time was that I was among the last buyers to actually receive their coins. The seller had carefully built up trust and feedback by conducting legitimate transactions. Then, a few weeks later, they dramatically expanded their operations, offering sovereigns in lots of 10 and 20. Regrettably, none of these buyers, including me, received their orders, and the seller disappeared with the money. This incident garnered significant attention at the time, and the police became involved, although to my knowledge, the seller was never apprehended.

Two fake gold bars bought on Ebay. 0% feedback from a new seller

The fact mentioned was shared by the Reddit user, u/Stonk_Jumper. They purchased two 1oz gold bars on eBay for $1945 each, only to later discover that both bars were counterfeit. Despite using a Sigma machine for verification, it was evident that the bars were fake by simply examining them closely.

The Reddit user u/Stonk_Jumper shared their experience and offered insights into detecting counterfeit gold bars. Comparing the dimensions of the bars with those provided on reputable bullion websites can be an effective method for verification. One telltale sign was the bars being thicker than genuine ones, as gold is known for its density.

The user emphasized the importance of being willing to pay a bit more for the peace of mind that comes with purchasing authentic gold. They also expressed regret for buying from a seller with zero feedback, acknowledging that it was a mistake. They questioned the eBay refund process, raising concerns about a seller potentially disappearing with the money.

Counterfeit Perth bars being sold on eBay. Be cautious!

Saw this pm Redditm where an user shared a frustrating experience they had recently encountered. They had purchased a 20g gold bar for $1100, hoping it would turn out to be authentic, although they knew the odds were slim. Regrettably, it turned out the bars were fake, despite their impeccable appearance, correct weight, and near-perfect packaging. The user decided to post their experience on Reddit to alert others and prevent them from making the same mistake.

The user emphasized the importance of being cautious when buying precious metals online, especially if one doesn’t own a sigma testing device. They admitted to having no prior experience buying gold on eBay, usually sticking to silver from reputable dealers. The user also highlighted their skepticism about bars in sealed assay cards, as they are frequently counterfeited.

When discussing their preference for government-issued coins, the user mentioned their hesitation to trust bars purchased from online companies. They also noted that local coin shops (LCS) tend to be more cautious when it comes to reselling bars, as they are aware of the high counterfeit risk. The user pointed out the shiny appearance of fake bars compared to the matte gold color of authentic Perth Mint bars, which is difficult to replicate.

Responding to a question about using a main sensor for testing, the user explained their preference for government-issued coins, as they are easier to test and visually inspect for all parties involved. They also stack neatly into tubes.

Another Reddit user suggested investing in a sigma testing device, which the original poster found valuable for detecting counterfeit precious metals. They concluded by stating their decision to stick with loose government-issued coins from LCS or reputable online retailers, which offer a higher level of trust and security compared to bars.

Smart Strategies for Buying Gold on eBay and Avoiding Counterfeit Risks

When purchasing gold on eBay, it’s crucial to exercise caution and follow some essential guidelines to avoid falling victim to counterfeit products or scams. Firstly, be wary of buying gold bars in sealed assay cards, as they are frequently counterfeited. Many individuals unknowingly hold fake bars in their safes until they attempt to sell them. To safeguard your investment, always verify the authenticity of the gold, and consider consulting your local coin shop (LCS) when purchasing from unfamiliar sources.

Loose government-issued coins from reputable LCS or established online retailers are generally a safer choice. These are easier to authenticate visually, and they tend to be more trustworthy. When it comes to testing the purity of unsealed or loose gold, you can use XRF machines or consider investing in a smaller home testing device. Additionally, acquiring a sigma testing device to validate the authenticity of your gold is advisable.

For those looking to diversify their investments, government-minted coins without a case are a practical option. They are easy to test, inspect visually, and stack conveniently in tubes. Buying from well-known dealers like APMEX, Bullion Exchanges, or Monument Metals can also provide some reassurance. However, even with reputable sellers, using a sigma testing device is a wise precaution to avoid counterfeit gold. Keep in mind that not everyone has the same budget for investing in precious metals, and it’s essential to tailor your approach to your individual needs and means.

How eBay’s payment process works. Beware using PayPal and Ebay.

Payments are typically released to the seller after they are cleared through eBay’s payment system. However, the refund process can vary based on account age and transaction history, with new accounts often subject to longer holds on funds. So, what the risk ending buying fake gold during bargain hunting?

the risks and rewards of buying valuable items on eBay and the eBay money-back guarantee, which is designed to protect buyers. eBay’s policy on counterfeit items often allows buyers to be refunded without the need to return the item. Ultimately, the safety of transactions on eBay can depend on various factors, including the seller’s history and eBay’s refund policies.

eBay tends to be protective of buyers.

However, it’s essential to carefully read through all the terms and conditions, as there can be specific exclusions for certain items, including bullion and gold. While eBay typically offers protection for buyers, there are exceptions, and bullion may fall into this category.

In this case, it’s crucial to note that PayPal, which is commonly used for transactions on eBay, has updated its User Agreement, and as of July 31, 2020. PayPal Seller Protection will no longer cover gold as a traded commodity, whether in physical form or exchange-traded form. This change may have implications for purchases of coins and bullion on eBay, as PayPal is often the preferred payment method for such transactions. As the saying goes, “the devil is in the details,” and understanding the fine print can help you make informed decisions when making purchases online, especially for valuable items like bullion or gold.

Do you remember ebay bucks’ program to buy gold coins…

he eBay Bucks program has undergone significant changes, leading to a shift in the way many gold enthusiasts approach their precious metal investments. In the past, it was feasible to acquire Pre-33 gold coins from Liberty Coin at prices below the prevailing spot rates. This trend was reminiscent of the early days of the Bing search engine, which offered a generous 25% cashback on items discovered through their search platform. Savvy buyers would first locate items on eBay and then utilize Bing to search for the same products, effectively maximizing their cashback rewards.

However, those days have passed, and the gold market landscape has evolved.

It’s worth noting that eBay has imposed restrictions, prohibiting the use of eBay Funds for purchasing gold, silver, coins, and certain other categories of items. Previously, a methodical strategy was employed, wherein shoppers could optimize discounts by applying the $50 credit as a fixed sum per item, allowing for the acquisition of the most affordable gold pieces. Regrettably, this approach was discontinued after it gained widespread attention.

Previously, it was not uncommon to find gold offered at discounts of 5% or more below the spot price. In response to the transformation in the eBay Bucks program, many gold buyers have shifted their focus towards private transactions, occasional visits to local coin shops, and interactions with online dealers over the past year and a half. Among these options, online platforms provide an attractive blend of competitive prices and a broader array of gold choices.

Despite these shifts in the market, some buyers remain steadfast in their commitment to precious metal acquisitions. They emphasize the importance of security and authenticity in their transactions, with a particular focus on one-ounce common gold coins. While some employ advanced tools like the Sigma Precious Metal Verifier (PMV) for verification, others find comfort in engaging with local private sellers, often choosing secure meeting locations such as banks. This approach enables them to perform vital authenticity checks through methods like “pinging,” weighing, measuring, and visual inspection.

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