new member - eBay

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ebaybullion
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new member - eBay

Hi all,

I recently stepped into a role where I'm heading up eBay's bullion business.  

As I build out our plans, I'm very interested in engaging with bullion buyers and sellers, and I'd love to hear your feedback about the eBay bullion experience. I want to make sure I'm addressing the most important needs of the community! I know we have room to improve.

Most recently, we launched a Bullion Center at http://www.ebay.com/gold-and-silver. Our goal is to create an easier way for buyers to find the most popular types of bullion, like American Eagles and Credit Suisse Bars. We are also featuring Buy It Now inventory at some of the best “all in” prices on the internet.

Looking forward to your comments about the Bullion Center and about your experience with buying/selling bullion on eBay.  

Best,

Brooke

Edited by admin on 11/08/2014 - 06:13
SilverTree
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What can be done to keep fake

What can be done to keep fake 999 silver and gold under control?

Dr Durden
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I haven't been using the

I haven't been using the bullion site because you cannot search it. 

I like 5 and 10 gram bars, but they are difficult to find while searching because there's so much junk to sift through. So a typical search on the main site honestly looks like this:

Searching under Coins, Paper Money > Bullion > Gold > Bars: "10 gram -clad -art -mill -mills -layered -buffalo -grain -grains -replica -nugget -nuggets -test kit"

It would be totally kick ass if eBay put a whole new category under Gold where all the other stuff I just listed could go and allow real gold and only gold to be quickly and easily found. I mean, you WANT sales, right? ;)

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Number 47
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Demand a proper description,

Demand a proper description, no 100 mils, no plated no micro coins nor copies. We want bullion. We buy bullion, save us from these frauds and we will fill your coffers with all the filthy lucer you want. Please? 

Create a category for 'shit nobody wants' and make them post their wares there.

ebaybullion
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I totally hear you guys. We

I totally hear you guys. We are very aware of this problem and do not take it lightly. We have already embarked on a serious initiative to get rid of the "fake" stuff (that actually incorporates some of your suggestions). The listings are getting cleaner everyday and I hope to be able to report back very soon that we are 100% clean. I will keep you updated with progress.

Dr Durden wrote:

I haven't been using the bullion site because you cannot search it. 

I like 5 and 10 gram bars, but they are difficult to find while searching because there's so much junk to sift through. So a typical search on the main site honestly looks like this:

Searching under Coins, Paper Money > Bullion > Gold > Bars: "10 gram -clad -art -mill -mills -layered -buffalo -grain -grains -replica -nugget -nuggets -test kit"

It would be totally kick ass if eBay put a whole new category under Gold where all the other stuff I just listed could go and allow real gold and only gold to be quickly and easily found. I mean, you WANT sales, right? ;)

Dr. Durden, I hope this addresses (for now) some of your concerns. Also, I would encourage you to go to the Bullion Center (see link in my original post) specifically, as opposed to doing a search on the main site, as we have settings there that allow to search specifically by weight, gold/silver, and type (rounds, bars, etc.). Would love to get your feedback on the functionality of the search options we've put in place.

Appreciate all of this feedback!!

Pablo
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Ideas

In order to post the item the seller should have to fill out a form specifying

1) exact weight of the bullion

2a) country of issue

2b) type of coin or bar

3) assayed - yes/no

4) type of metal

5) fineness

6) grading

7) anything else

You also need to make the sellers certify under some kind of legal enforcement that the item is as described and is real bullion, not some BS fake. Put the onus on the seller to make an accurate and true listing.

If they fill out the form you'd have an easy way to sort the results without relying on the search terms which are always gamed.

pourty
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nevermind

nevermind

Dr Durden
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ebaybullion wrote: Dr.

ebaybullion wrote:

Dr. Durden, I hope this addresses (for now) some of your concerns. Also, I would encourage you to go to the Bullion Center (see link in my original post) specifically, as opposed to doing a search on the main site, as we have settings there that allow to search specifically by weight, gold/silver, and type (rounds, bars, etc.). Would love to get your feedback on the functionality of the search options we've put in place.

Appreciate all of this feedback!!

I appreciate the look-out and thanks for the attention.

And scratch my previous comment about not being able to search the bullion center. Either I'm a complete moron and missed the search button all together or someone added it in the mean time. Either way, awesome!

As of now, the benefit of searching the main site over the bullion site is what Pablo listed. I always select "US Only" as a location as to weed out some "junk" offered from over seas. 

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ebaybullion
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This is great stuff. Thank

This is great stuff. Thank you again, and please know that I'm listening and taking this all in! (Pablo, your feedback is great!)

I wanted to give you all a heads up to a deal that JUST started running on eBay (today only!). Amazing price for 3 Silver American Eagles, free shipping, no hidden fees. Check it out!

http://bit.ly/qPJZ6p

Pablo
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I was looking in the bullion store today

I appreciate that you are here to get feedback, because I know that eBay wants to make the bullion store a useful and profitable addition to the site.

But I was looking in the bullion store today, and this is why it is not useful to me. The listings are full of useless or misleading listings like this:

- Not even silver: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=250850500239

- 100 mil plated: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=250852987472

- 100 mil porno rounds - http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=150629724625

- Pages and pages of airtite holders, flips, and 1 grain gold bars ("investment quality" 1 grain bars, of course!)

Please please please get rid of the trash listings and then emulate something like www.gainesvillecoins.com search tools, and they you'll have something useful :) The issue is that if the listings are not clean, people will get the impression that there are too many scammers and they will be less inclined to purchase from what they see as an untrustworthy or dangerous site where they might get scammed, as opposed to a coin shop or online bullion dealer where products are vetted and sales are contracted and guaranteed.

NorthernExposure
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Here is a website that

Here is a website that basically aggregates everything for your here.  No junk here and easy to use search functions. 

http://bullionsupermarket.com/

bigmark99
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Nice shape

I don't think I would buy it but she had a nice shape on that coin.

ebaybullion
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Pablo wrote: I appreciate

Pablo wrote:

I appreciate that you are here to get feedback, because I know that eBay wants to make the bullion store a useful and profitable addition to the site.

But I was looking in the bullion store today, and this is why it is not useful to me. The listings are full of useless or misleading listings like this:

- Not even silver: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=250850500239

- 100 mil plated: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=250852987472

- 100 mil porno rounds - http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=150629724625

- Pages and pages of airtite holders, flips, and 1 grain gold bars ("investment quality" 1 grain bars, of course!)

Please please please get rid of the trash listings and then emulate something like www.gainesvillecoins.com search tools, and they you'll have something useful :) The issue is that if the listings are not clean, people will get the impression that there are too many scammers and they will be less inclined to purchase from what they see as an untrustworthy or dangerous site where they might get scammed, as opposed to a coin shop or online bullion dealer where products are vetted and sales are contracted and guaranteed.

Again, thanks very much for this feedback. Pablo, can I ask where/what kind of search you were doing when these results came up (did you search from main site or bullion center and did you do a specific search or more general). We are all VERY focused on the "junk" problem over here and are continuing to refine results listings and do work on the system to prevent poor quality returned listings. Bear with us (I will send concrete updates as soon as I can)but keep sending frustrations/ideas/etc. This is extremely helpful. Thank you!

Pablo
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How these results came up

I went to the bullion center ( http://goldandsilver.ebay.com/ ), and using the filter at the top of that page I set it to "Silver", "Any" Brand, and "1 oz" weight. Then I sorted by "Price + Shipping: lowest first" and all the garbage you see there is in the first couple pages of results.

Obviously a plastic flip is not a 1 oz .999 silver so either the filter does not work or the items are mistakenly or purposely listed incorrectly.

Thanks

Dr Durden
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ebaybullion wrote:I wanted to

ebaybullion wrote:
I wanted to give you all a heads up to a deal that JUST started running on eBay (today only!). Amazing price for 3 Silver American Eagles, free shipping, no hidden fees. Check it out!

http://bit.ly/qPJZ6p

Looks like the price has dropped $5 on the 3 to $122. And they're moving pretty quickly; they've sold 850 so far.

Not an amazing deal, but not a bad one either.

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Magpie
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eBay

I follow the eBay prices for bullion at

http://www.24hgold.com/english/buy_sell_gold_coins.aspx?co_id=0

(someone at the old site posted the link......I can't take credit for finding this site.)

Most of the time I can get a better deal at my favorite coin shop than on eBay, and eBay is just one big pain to navigate.  I'll happily admit to taking the path of least resistance when shopping for bullion, and eBay isn't that.  At least this site I linked to sorts out the crap from the treasures.  Right now, according to this site a 1/20 oz. Panda is going for $2330.87 per oz. while a 1 oz. Phil is going for 1555.02 per oz.  You won't find that kind of information at eBay, either.  I honestly don't know if any fixes you could make would ever entice me make eBay my first stop when shopping for bullion.

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Dr Durden
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Pretty good deal I just came

Pretty good deal I just came across on Sunshine Minting 5 gram bars.

$275 shipped ($269.50 after Bucks).

Implied spot: $1710 (7% over spot).

If you search the completed listings, there hasn't been any of these bars sold for $275 delivered or less for as far back as you can search. All when spot was between $1480 and $1550.

Compare to Credit Suisse's for $10 more and Pamp's for $50-75 more. Gainesville has 5 g Pamp assayed bars for around $290 delivered ATM.

No affiliation to this seller what so ever. Never bought from them. I did check them out and they've sold a number of these 5 g bars in the past. 100% feedback. They show more than 10 avail at this time.

I own 4-5 of these little guys and they're oh so cute and a nice fractional size for gold (bonus that the little plastic holders are included in this auction).

http://cgi.ebay.com/5-gram-Sunshine-Mint-Gold-Bars-/290587538521

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pink freud
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Dear Brooke I tried to sell

Dear Brooke

I tried to sell bullion on eBay but your fee's take most/sometimes all of my profit away.  Is there anything you can do to get them to lower the percentage. I have not sold any bullion on eBay since 2009 and I refuse to sell any bullion on ebay until then.  I sell to Apmex/Local Dealer and they don't charge me for it!  They give me premiums.

For Example.

In 2008-09 i sold over $10,000 worth of silver/gold and just about broke even(thanks to microsoft cashback).  One instance would be selling a 1 oz Gold Maple Leaf. The spot price back then was $800/oz for gold.  I sold it for $900.   Your fees take $56, Paypal takes another %3  ($27) and shipping w/ ins = $30.   56+27+30=$113     Wheres the profit?  I even worked my way up to power seller and top rated seller, but it didn't make that much of a difference.  Sell that same coin to my dealer = $820(no shipping) Same coin to Apmex = $850 with $10 shipping.  

Selling totals

Apmex - $840

Local - $820

eBay - $787 (for an $800 coin)

Buying on the other hand, is nice!  Especially with eBay bucks. The Microsoft CashBack program was very lucrative while it lasted.  Maybe if you lowered your fee's on the sellers,  you wouldn't have to offer the buyers free money back.  Its a catch 22.  Ya'll charge the sellers too much and then the price has to be outrageous to make a few bucks.  Then you have to offer free money back o the buyers to get them to buy.

Your fees are hurting your business.

I challenge you to name one bullion or coin  'buy it now'  item on ebay and I bet I can find it cheaper somewhere else.

Thanks for listening Brooke,   together...  Yes we can!  Right?  I hope for some change :)  

eBay member since 2006

100% positive feedback

NorthernExposure
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Ebay Privacy settings

Hello ebaybullion,

I have encountered a situation where I was defrauded by a member who has built up a positive rating on ebay.  (But will get the money back through PayPal.)  They have set the bids on "private" settings so that the negative feedback does not show unless they receive 10 or more ratings.  Is there a reason why that the feedback as a seller is hidden to that extent?  When I count the amount of silver that he has posted in addition the the number of ads, this individual has defrauded about 1000 oz from people AND will not have any of the negative comments shown on their profile.  When I spoke to the individual at ebay they were  only allowed to say that this individual had multiple claims against them and has not done anything. 

I know the privacy setting is important, but I do not like the fact that this guy will be able to hide his negative feedback behind ebay's walls.  Would it be possible to change that so that if the purchase is over "X" dollars in coins, bars, etc. then their feedback will show regardless?  I would love some kind of escrow feature but could see how that might cause some serious headaches...

bern
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Hi Brooke.  I just found this

Hi Brooke.  I just found this thread, but I've been using the ebay bullion center since I stumbled upon it some time ago.  I would like to suggest adding a category under the silver coins for 90% silver. 

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fraudulent sellers

I too have encountered the same type of seller that Northern Exposure refers. The seller I encounter was selling an "MS69" Morgan worth $1300 but sold it for $125. When I took it to a local coin dealer he said the coin had been cleaned and was not even worth grading, much less an MS69. The seller, once again, hid behind eBays wall of silence. My money was returned, through paypal, but it was the last time that I have done business with eBay. Much better sources for bullion and no BS. My local dealers, three in total, are trustworthy and do not have any junk coins cluttering their counters. No shipping, insurance and better prices to boot.

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