6 Tips to Buy Gold Coins on eBay Safely
August 9, 2008 · Print This Article
eBay is well-known for its bargain prices on everything, including gold coins. If you want to buy gold coins either as investment or collectible coins, you should drop by eBay and check recent gold coin auctions. You would be surprised what you can discover there.
Do not expect to buy gold coins at 50% or even 30% discount there, it’s simply unrealistic. However, you can find great coin deals having gold prices below what is offered on websites specializing in selling gold bullions and gold coins. If you save 5-10% on eBay, it means you are getting one free gold coin with every 10 coins purchased. Talking about smart investing…
But you also want to have a pleasant and save experience with your eBay purchase. Read the tips below and you would never have to worry about your gold coin purchase again.
1. Always look at feedback number, higher number means more confidence in a seller. You can find this number after the seller name in parentheses.
2. Look at feedback positive % as well. Seller might have large feedback number (meaning a lot of items sold on eBay), but if feedback percentage is 67% - you might step into issues with seller. A good rule of thumb is feedback percentage should be 90% or higher.
3. Buy from Power Sellers. They are well established with eBay and care about their reputation and customers.
4. If you decided to buy not from Power Seller or a seller with feedback number higher than 200, you have to check latest items sold (are they related to gold coins?) and when seller became a member of eBay. If a seller is around eBay for 2-3 months, you might just step into scam.
5. Try to find gold coin auctions with “No reserve price”. In this case you know you do not have to bid up to “reasonable” price on the coin, and actually may land a very good deal on a gold coin.
6. Look through auction listing and find Return policy. You want to make sure seller gives you 7 to 10 day to evaluate coin and decide if the coin was advertised correctly. I had few times a bad experience with coins when seller advertised coin as MS-65, where it is really MS-60.
Follow these tips and you will have a pleasant experience with buying gold coins on eBay.
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
thank you Allen, looking forward to publish more gold coins articles.