Ebay Announces a New Gold & Silver Bullion Center

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#1 Wed, Jun 15, 2011 - 9:29am
ginger
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Ebay Announces a New Gold & Silver Bullion Center

This should make Eric Original very happy! :D

https://goldandsilver.ebay.com/?headlinecopy

We go more and more mainstream........

Edited by: ginger on Nov 8, 2014 - 5:31am
Wed, Jun 15, 2011 - 9:59am
rock collector
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I took a quick look at eBay's

I took a quick look at eBay's bullion page this AM.
I am worried about pseudo bullion items being prominently promoted and by inclusion (eBay allows pretty much anything), these types of items receive undeserved validity.

Click here: 1 ONE OUNCE OZ GOLD 24K BULLION 999 GEP BAR BISON 500 | eBay

This auction and this product seems designed to confuse and deceive.
It even says one ounce layered bar.

This new eBay bullion page is a minefield for the uninformed.
What am I missing?

Wed, Jun 15, 2011 - 10:19am
ginger
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You aren't missing anything.

You aren't missing anything. You are dead on. I do alot of selling on Ebay ..run an entire business just on Ebay and the bullion section will be no different than any other at Ebay. You have to be extremely careful when buying from individual sellers on Ebay or any other seller site. It's not like buying from Gainesville Coins, etc. Any site comprised of individual sellers will have both honest and dishonest folks who do business there.

You ALWAYS have to do good due diligence and when in doubt...do without. And just go to one of the reputable online bullion sites. That's, of course, not to say that you can't get some fabulous deals on the real deal at Ebay.....you can. You just have to be very careful and know what you are buying.

Your warnings/concerns are well founded.

Wed, Jun 15, 2011 - 10:57am (Reply to #3)
Dr G
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Just a bunch of junk on there

Just a bunch of junk on there right now. By junk I mean overpriced items, many of which could be fake. Good luck buying those Pandas.

eBay always has hidden nuggets (no pun intended) that are great deals, but it takes too much effort for my liking.

Wed, Jun 15, 2011 - 11:08am (Reply to #4)
erewenguy
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Been loading up on 90% and

Been loading up on 90% and buy solely from ebay. I like dimes through halves since there is less incentive for counterfeits. It does take time buying odd lots, but by not getting caught up in bidding wars, you can pick up some good buys. I have been seeing that larger lots of 90% are less available. Another sign of silver availability drying up, or just stronger hands holding for a better price?

Wed, Jun 15, 2011 - 11:27pm
Eric Original
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Ha!

ginger, the last thing I need is something that makes it easier to buy gold! I'm trying to cut back...

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Wed, Jun 15, 2011 - 11:31pm (Reply to #5)
Eric Original
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90%

I bought almost all my 90% on eBay. A lot of odd lots too, just like you said. I used to search for "silver face value" and come up with all these goofy odd lots. $4.65 worth of 90%, that kind of thing. If you are disciplined and patient it's a great way to go.

Later I had the fun of sorting them out and rolling them up. :D

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Wed, Jun 15, 2011 - 11:44pm (Reply to #2)
Dr Durden
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Subject

rock collector wrote:
Click here: 1 ONE OUNCE OZ GOLD 24K BULLION 999 GEP BAR BISON 500 | eBay

This auction and this product seems designed to confuse and deceive.
It even says one ounce layered bar.

There are a TON of clad gold bars in the "bullion" section. In fact, that's my main petpieve when searching for gold because you have to sift through so many damn clad bars.

Look, if you cannot read an auction or not bid on a seller with 0 feedback, you need to buy from an online dealer or a local coin shop as eBay is obviously not for you. I see this irrational fear with regards to eBay all the time...like everyone is out to scam everyone...and it's simply untrue.

About 85% of the PM's I currently own have come through eBay with a good 50% of them bought under spot at the time of purchase. There are lots of guys and girls out there that are just like us: honest, hard working folks who are moving some coins/bars for whatever reason. Thousands of dollars in fiat, never a single bad coin or transaction. Maybe I'm just lucky, but I doubt it. 

Got GIABO? "It's called the American dream, because you have to be asleep to believe it." ~George Carlin
Wed, Jun 15, 2011 - 11:48pm (Reply to #8)
Eric Original
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Doc Durden

That's my experience as well. I love ebay. Not a coin yet that I have any concerns about.

Bid on stuff you are familiar with. If ANYTHING about the listing seems not right to you, walk away.

And if you don't want to overpay, then don't!! Set your bid where you want it and walk away. Don't get emotionally involved in "winning". That's for losers. There will always be another coin coming along.

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Thu, Jun 16, 2011 - 12:01am
Dr Durden
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You're right, Eric. If you're

You're right, Eric.

If you're patient and work the cashback system, you can come out way ahead and stay off the grid as far as "taxes" go.

I just checked my spreadsheet and I've earned a 1/2 of gold ($750) since I started buying in the form of kickbacks. Now, if I had my head out of my ass back in the glory days of Microsoft Live CB at 35-40%, then holy shit, I'd have so much metal I'd have to hire someone to count and sort it all out!

Got GIABO? "It's called the American dream, because you have to be asleep to believe it." ~George Carlin
Thu, Jun 16, 2011 - 4:06am
silverbleve
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Ebay Announces a New Gold & Silver Bullion Center

I only buy from Ebay when I want something particular I can get from my local dealer or one of the main online sites, for example if I need a specific coin to complete a set, and in that case I know exactly what I'm looking for. I did once pay too much for a set of graded eagles on there, graded ms70 and slabbed, but not graded by a real (reputable) grading company like ngc. They were still real coins though, I would not tolerate getting a fake from a ebay auction, they make it easy to get a refund if you find a fake.

Plus, in many cases if someone is trying to sell counterfeit coins that is just like making fake FRN's and the FBI gets involved pretty quick.

If you are not sure you can spot a fake just stick to your local dealer, chances are you will get a better price anyway, and while you are there you will get some perspective from them on the silver market in general.

Thu, Jun 16, 2011 - 12:27pm
No1Hunter
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I agree what you guys are

I agree what you guys are saying. This is specially true concerning the clad bars. I have seen both gold and silver plated bars being toted as .999 1 oz bars only to find way at the bottom in small print they are plated. Title only states ".999 1 oz bar". Buyer beware!!!

Fri, Jun 17, 2011 - 6:22am
ClinkinKY
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Ebay Gold and Silver Bullion Center

While I'm sure that some folks buy these plated bars because they want to participate in the PM game but their budgets are limited, I can't help but feel that there are more folks who plan to take these plated items out to the local clubs/bars and sell them to the unsuspecting inebriated patrons, as the real deal, at a price "you can't refuse". When you combine greed, an unscrupulous person, a naive sucker who's never heard the phrase "if it's too good to be true", and mix in some alcohol, P.T. Barnum's axiom "There's a sucker born every minute" is proven true.

"The more you complain, the longer God lets you live".
Fri, Jun 17, 2011 - 6:47am
theworldhaschanged
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Ebay is a good marketplace.

Yessssssssss, you have to be careful. Read the entire ad, not just the header. Buy on auctions that end mid-week. Sell on auctions that end end on a friday, saturday or sunday. I have bought a lot of "junk" under spot. Careful w the shipping! Search "free shipping" and click the "entire Description" box. Thennnnnnnn, u be a happy camper!

Fri, Jun 17, 2011 - 6:51am (Reply to #14)
Eric Original
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ebay weekends

theworldhaschanged wrote:

 Buy on auctions that end mid-week. Sell on auctions that end end on a friday, saturday or sunday. 

Hmmm. Seems like all my very best buys have come on the weekends. Opposite of your experience. Maybe it's all just random after all.

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Fri, Jun 17, 2011 - 7:21am (Reply to #15)
theworldhaschanged
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Maybe it has less to do w day

Maybe it has less to do w day and more to do w time of ending. My winning auctions have mostly ended after 7pm (u would think that it would be some other time). I always use a sniping program. My favorite for ease of use is www.auctionsniper.com

Often, I win sub-spot pricing on auctions w shipping charges. I usually use https://www.usacoinbook.com/coin-melt-values/ and just subtract shipping to arrive at the max bid that put into my snipe.

Happy hunting!!

Tue, Jun 21, 2011 - 3:12pm
Dr Durden
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Hmmm, all cashback sites

Hmmm, all cashback sites affiliated with eGhay are temporarily suspended as of 6/16/11. Won't be back till October.

Very interesting coincidence with the launch of this store. How much metal are they moving!?!?

There goes my summer doldrums BTFD plan. A-holes.

Got GIABO? "It's called the American dream, because you have to be asleep to believe it." ~George Carlin
Tue, Jun 28, 2011 - 2:46pm
Dr Durden
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Double eBay Bucks today only

Double eBay Bucks today only (4% credit carry over till next quarter). I believe this is targeted, so check your eBay messages.

Got GIABO? "It's called the American dream, because you have to be asleep to believe it." ~George Carlin
Tue, Jun 28, 2011 - 3:43pm
silverbleve
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Flags and Gold

I have noticed that the very best days to buy on ebay are those that fall under big events that distract the general population. Superbowl Sunday, Hollywood Awards nights, national holidays /etc.

I think the upcoming 4th of July weekend will provide a good buying opportunity, if you are willing to use the computer while everyone else is lighting sparklers and roasting weenies. We'll see.

I'll post a few deals if I find any here if you promise not to bid against me:)

Thu, Jun 30, 2011 - 4:09pm (Reply to #2)
Pax Argentum
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rock collector wrote: ...This

rock collector wrote:

...This auction and this product seems designed to confuse and deceive.
It even says one ounce layered bar.

This new eBay bullion page is a minefield for the uninformed.
What am I missing?

Missing nothing, you are spot on mate. And that item has 6 bids on it already.

How many of them know they're buying a chunk of copper worth about 70 cents?

Too bad we can't 'junk' sellers on Ebay (without buying first).

Caveat Emptor and keep stacking the .999

Pax

Sat, Jul 2, 2011 - 11:19am
ginger
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Shoot. I have not been around

Shoot. I have not been around much the past few days but was just attempting to make a purchase for my daughter on Ebay through mrrebates.com to get my discount.. ...saw that Ebay isn't honoring these discount sites any longer. angry

Guessing it's NOT a coincidence with the gold/silver bullion center. Rats. indecision