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lustrous potentate
07-14-2011, 01:58 AM
Hi everyone. I have been lurking here for a few weeks, great forum. I have been buying silver for a few months now, I can see the way things are progressing and it is pretty spooky. Financially speaking.

I have some morgan dollars that I was going to sell on ebay and buy more bullion. I have some concerns about being screwed over by buyers. Paypal protects the buyer more than the seller, that is my concern. Here is the scenario that worries me... Buyer pays with paypal, I ship, buyers states that coin is fake, paypal take the money back and buyer send me back a fake.

How do I do this to protect myself? Thanks for any help.


Title was meant to say " selling on the bay" not "the ebay"

Anonymous81
07-14-2011, 02:06 AM
You cant protect yourself on ebay..... If you are going to sell on ebay, then only accept US postal money orders ONLY.

Sell them to your local coin shop or sell them to Kitco or Apmex.

lustrous potentate
07-14-2011, 02:10 AM
Ok, that makes sense. I figured I would get more on ebay than from a dealer.

Anonymous81
07-14-2011, 02:16 AM
You will actually get less on ebay, since you have to pay for so many BS fees. Also, you might deal with a headache too.

Ebay is only a good place to sell electronics and other stuff, but not PMs.

lustrous potentate
07-14-2011, 02:39 AM
Good to know. Might just as well hang on to them then. Silver is silver,right?

StrikeRich
07-14-2011, 02:50 AM
You will actually get less on ebay, since you have to pay for so many BS fees. Also, you might deal with a headache too.

Ebay is only a good place to sell electronics and other stuff, but not PMs.

Depends on who you talk to. Using their system, I've swapped suisse bar for age while getting ebucks + rebates.
Do research and cover your rear as always. GL

coindog
07-14-2011, 03:04 AM
for everything except PMs. as posted with all the fees and buyer bias you might do better in a private sale or to LCS. with Morgans I would go private sale, you get a premuim over coin shop buy price. I have sold gold and silver in person to person sales several times, no problems, no taxman, no fees.;)

StrikeRich
07-14-2011, 03:08 AM
Hi everyone. I have been lurking here for a few weeks, great forum. I have been buying silver for a few months now, I can see the way things are progressing and it is pretty spooky. Financially speaking.

I have some morgan dollars that I was going to sell on ebay and buy more bullion. I have some concerns about being screwed over by buyers. Paypal protects the buyer more than the seller, that is my concern. Here is the scenario that worries me... Buyer pays with paypal, I ship, buyers states that coin is fake, paypal take the money back and buyer send me back a fake.

How do I do this to protect myself? Thanks for any help.


Title was meant to say " selling on the bay" not "the ebay"

I read somewhere in eBay's dispute FAQs that a buyer would have to show proof in writing from a credible source saying that your coin is fake.

Silver Bull 1
07-14-2011, 03:16 AM
Hi everyone. I have been lurking here for a few weeks, great forum. I have been buying silver for a few months now, I can see the way things are progressing and it is pretty spooky. Financially speaking.

I have some morgan dollars that I was going to sell on ebay and buy more bullion. I have some concerns about being screwed over by buyers. Paypal protects the buyer more than the seller, that is my concern. Here is the scenario that worries me... Buyer pays with paypal, I ship, buyers states that coin is fake, paypal take the money back and buyer send me back a fake.

How do I do this to protect myself? Thanks for any help.


Title was meant to say " selling on the bay" not "the ebay"

I have sold alot of coins on EB-- Last month 0ver $1400 in Numismatic Latin coins mostly- Have not had a problem. Not to say I couldn't.

If you require experianced Ebayers only on your auctions-- No Strikes-- and no newbies
you can minamise the problem.

I also sold 15 oz of silver on Craigslist last month for $38/oz no problem-- But as always you have to take a few precautions

hidancity
07-14-2011, 05:53 AM
I have sold alot of coins on EB-- Last month 0ver $1400 in Numismatic Latin coins mostly- Have not had a problem. Not to say I couldn't.

If you require experianced Ebayers only on your auctions-- No Strikes-- and no newbies
you can minamise the problem.

I also sold 15 oz of silver on Craigslist last month for $38/oz no problem-- But as always you have to take a few precautions

What would be the precautions that you would take for Craigslist?

Gold Bouillon
07-14-2011, 06:32 AM
What would be the precautions that you would take for Craigslist?Meet in a public place, carry a gun, have an armed escort?

SiberD
07-14-2011, 06:34 AM
You cant protect yourself on ebay..... If you are going to sell on ebay, then only accept US postal money orders ONLY.

Sell them to your local coin shop or sell them to Kitco or Apmex.

More than likely that will garner less bids. Using paypal is just more convenient and, like he says, paypal protects buyers. I wouldn't bid.

Curto
07-14-2011, 09:58 AM
You cant protect yourself on ebay..... If you are going to sell on ebay, then only accept US postal money orders ONLY.

Sell them to your local coin shop or sell them to Kitco or Apmex.

You MUST accept Paypal. Sell all items with numismatic or collector potential on Ebay.
Sell all bullion to Kitco

97guns
07-14-2011, 10:18 AM
You MUST accept Paypal. Sell all items with numismatic or collector potential on Ebay.
Sell all bullion to Kitco



i sell alot of stuff on ebay and this is how i protect myself. get 2 pp accounts, as soon as money hits the payment account i transfer it to the next account and then withdraw it into my bank account.

if a buyer opens a case up there are no funds to freeze, if he wants to send it back as a not as desdcribed item then have at it.

try to describe the item as accurately as possible and do not omit any detail.

Lorian
07-14-2011, 10:28 AM
I never sold so far, but here ebay looks quite attractive to sell on, since a month or so the ebay cost has a maximum so no % anymore then, which makes aLOT difference for a bigger quantity (only for non-commercials), and since dealers have to pay tax, you can get the same price level with no tax involved. So here it's optimal to buy silver from a dealer and sell it on ebay instead of back to the dealer. Especially true for kilocoins with bigger premiums like Lunars, since the dealers mainly get their spread from the buying back, not from the selling where they have to have competing prices. You get then like 20% more.
Ofcourse, you have to be much more careful on ebay for these bigger prices. All registered (maybe even insured?) shipping.

strattsp
07-14-2011, 10:58 AM
You MUST accept Paypal. Sell all items with numismatic or collector potential on Ebay.
Sell all bullion to Kitco

Not true anymore. There are plenty of sellers who only accept money orders. Ebay policy states that you must accept at least one approved payment method.

HighInBC
07-14-2011, 11:45 AM
Not true anymore. There are plenty of sellers who only accept money orders. Ebay policy states that you must accept at least one approved payment method.

My understanding is that only certain classes of items may be sold for money orders. They don't like them for most items because they cannot force a refund.

madduxxx
07-14-2011, 11:55 AM
i sell alot of stuff on ebay and this is how i protect myself. get 2 pp accounts, as soon as money hits the payment account i transfer it to the next account and then withdraw it into my bank account.

if a buyer opens a case up there are no funds to freeze, if he wants to send it back as a not as desdcribed item then have at it.

try to describe the item as accurately as possible and do not omit any detail.

Same thing I do, but to be honest, I haven't had a need for it and even forget to move the money sometimes. I have been buying/selling on the 'bay since 2/19/1999 and have never had a serious problem like some I read about.

On the occasion I have given a refund, I have always received the same item back and in the same condition I sent it. I've sold items ranged from 10 dollars to 5 grand.

I think a lot of it has to do with how ethically you want you run your business on the 'bay. Stay on the up and up and karma will take care of you.

Curto
07-14-2011, 12:00 PM
Same thing I do, but to be honest, I haven't had a need for it and even forget to move the money sometimes. I have been buying/selling on the 'bay since 2/19/1999 and have never had a serious problem like some I read about.

On the occasion I have given a refund, I have always received the same item back and in the same condition I sent it. I've sold items ranged from 10 dollars to 5 grand.

I think a lot of it has to do with how ethically you want you run your business on the 'bay. Stay on the up and up and karma will take care of you.

Well said. I too have sold hundreds, maybe thousands of items. Full disclosure in the listing description is the key to happy selling.

jejones3329
07-14-2011, 12:07 PM
There may be better sources for selling generic but the bay is worthwhile for your unique or premium items. Lunars and some others go surprisingly high on the Bay.

97guns
07-14-2011, 12:18 PM
when a buyer opens a claim the funds in the sellers account are frozen. if the claim is not settled then the buyer will get the refund, he doesn't even have to send anything back. transfering the funds eliminates the freeze. pp cant take the money from your credit card or suck it out of the bank account.

rawteam1
07-14-2011, 12:19 PM
how can u "enlighten" the most interesting man in the world?...

Silver Bull 1
07-14-2011, 12:21 PM
What would be the precautions that you would take for Craigslist?

I have sold a fair amount of things on CL -- Never had a problem.
I think CL is GREAT BUT MAYBE Not For Everyone.

You Need to have Good Instincts and know how to Read People.
There are alot of precautions you can take. Too many to list them all.

Heres a few;
As mentioned meet in a public place. If you can be armed why not?

Watch out for Counterfeit Cash

Don't tell them your address or info that would lead to that.

Don't carry the PM's on you when you meet them.
Leave them in your vehicle or have a friend carry them

When setting up meet ask for full name- Listen for reactions to questions. Also ask the same questions afew times to check for consistancy.

Most Important is to trust your instincts, if somthing seems hinky-- Cancel or change at the last minute-- and Reset

Obediah
07-14-2011, 01:07 PM
I'm done with the bay the seller has no chance whatsoever if he crosses paths with an unscrupulous buyer- have heard a number of stories of monies being taken back- accounts frozen and packages returned with items other than what seller sold- sent, in other words worthless junk. If I sell it is face to face or USPS COD.

Waylons Ghost
07-14-2011, 01:19 PM
Theres nothing wrong with selling and buying on Ebay,Ive been doing it since 1998 and really cant remember having a problem doing either!!!I guess bad things do happen from time to time,but in my experience not often

HighInBC
07-14-2011, 02:06 PM
Where does the money come from when the buyer gets refunded? As a seller, is your main priority only ensuring your funds aren't frozen so that you can use them? Are you more concerned with being scammed by a buyer? If the buyers get refunded, which the vast majority of them do, regardless of the circumstances, or with the burden of proof placed on the seller to defend the claim, what is the purpose of going through the trouble to set up multiple Paypal accounts? Surely there's more incentive than to just ensure you have liquidity to continue your own purchases with the money acquired from selling. Otherwise, that seems like a lot of work to mitigate virtually no risk. The risk of having the funds stripped away is still present.

They try to take it from the seller account if they can, if they cannot they will pay the buyer out of their pocket and bill the seller.

BobCo
07-14-2011, 03:08 PM
I have sold a fair amount of things on CL -- Never had a problem.
I think CL is GREAT BUT MAYBE Not For Everyone.

Don't tell them your address or info that would lead to that.

Don't carry the PM's on you when you meet them.
Leave them in your vehicle or have a friend carry them

When setting up meet ask for full name- Listen for reactions to questions. Also ask the same questions afew times to check for consistancy.

Most Important is to trust your instincts, if somthing seems hinky-- Cancel or change at the last minute-- and Reset
I would never want the other person to know my full name, whether selling or buying so I wouldn't balk at the other person not wanting to divulge.
A perfect "public place " is your bank, especially if you have a safty deposit box. You pull what you're selling from the box (or bring it with you) then you would either depoist the cash in your account OR put the cash or the goods you have bought into you safty deposit box.
You walk into the bank with perhaps nothing and most importantly you walk out with nothing, but whatever you recieved is safe and secured AND you let the other party know that whatever the exchange is you're leaving yours behind locked up.
Numerous bonuses... Suspect counterfit money? Easily checked at the bank and there's security out the ying-yang! Cops take alarms from banks very, very seriously.

SilverSurfer25
07-14-2011, 03:12 PM
No one knows a seller can file a dispute with a buyer for scamming buyer protection? Its in the resolution center and is explained in decent enough detail.

justbored
07-14-2011, 03:37 PM
I sell on ebay (not bullion) quite frequently. I ran the numbers for what silver was usually selling for on ebay over last weekend out of curiousity one night. In the end, after ebay/paypal/listing fees, most sellers were ending up with right around spot or a little less for what they sold. That being said if you have a LCS I would just sell to them instead as the TINY bit less you may get will offset the potential headaches and trips to the post office that selling on ebay will bring.

madduxxx
07-14-2011, 03:45 PM
I sell on ebay (not bullion) quite frequently. I ran the numbers for what silver was usually selling for on ebay over last weekend out of curiousity one night. In the end, after ebay/paypal/listing fees, most sellers were ending up with right around spot or a little less for what they sold. That being said if you have a LCS I would just sell to them instead as the TINY bit less you may get will offset the potential headaches and trips to the post office that selling on ebay will bring.

Agree for the most part on pure bullion PMs (even tho the occasional bidding war still keeps me selling on tha 'bay instead of the LCS)... Just wanted to say I buy my postage online and my fe-mailman picks my shipments up so no trips to the Post Office for my eBay listings.

bigal4194
07-14-2011, 04:19 PM
A paypal account has to be linked to either a bank account or to a credit card.If a buyer open's a not as described issue paypal will take the amount out of your account if there is a balance.If no balance money will be withdrawn from your linked account.It has happened to me.Sellers have no rights whatever on ebay.Buyers will win the case 99.9% of the time for whatever reason.

TheMostInterestingMan
07-14-2011, 04:27 PM
A paypal account has to be linked to either a bank account or to a credit card.If a buyer open's a not as described issue paypal will take the amount out of your account if there is a balance.If no balance money will be withdrawn from your linked account.It has happened to me.Sellers have no rights whatever on ebay.Buyers will win the case 99.9% of the time for whatever reason.

Exactly. So why have 2 accounts? A seller cannot escape a dishonest buyer with evil intentions.

Gold Standard
07-14-2011, 06:05 PM
You cant protect yourself on ebay..... If you are going to sell on ebay, then only accept US postal money orders ONLY.

Sell them to your local coin shop or sell them to Kitco or Apmex.

The last I heard ebay requires sellers to accept paypal.

97guns
07-14-2011, 06:16 PM
i have my payment account linked to a bank account i dont use. i do it this way because i got took for $300 in gun parts, never got the parts back and paypal sucked it out of my account like a thief in the night. aint gonna happen to me again, i throw away paypal and ebay accounts like their dirty diapers.

ifionlyhadsomegold
07-14-2011, 07:15 PM
I ran the numbers for what silver was usually selling for on ebay over last weekend out of curiousity one night. In the end, after ebay/paypal/listing fees, most sellers were ending up with right around spot or a little less for what they sold. That being said if you have a LCS I would just sell to them instead as the TINY bit less you may get will offset the potential headaches and trips to the post office that selling on ebay will bring.

ditto,


a good local is a must and you will come out ahead of the bay...

pure bullion that is.

:)

t00nces2
07-14-2011, 07:47 PM
I can tell you that I have had a buyer challange a sale of a software item I had listed as no refund. The item had been accurately described, but because I cannot guarantee someone would know how to use the software or wouldn't copy it once the package was opened, I wouldn't accept returns. Paypal returned the buyers money without making him return the item and did not take the money back from me either. I don't remember who they considered wrong or right, just that I got to keep my money.

DanChan
07-14-2011, 10:25 PM
I read somewhere in eBay's dispute FAQs that a buyer would have to show proof in writing from a credible source saying that your coin is fake.

The easiest resolution for all involved is for the seller to issue a full refund after getting the item back.

But what if the buyer sends you back a rock instead of the Morgan? You're screwed!

I once heard a story from a friend about an EBay seller who was so impossible to deal with that that's exactly what they did to get even with them.

Bottom line is that if the buyer spends a lot of money through them and has few or no complaints about them, that they'll almost always side with the buyer. But even if you say Absolutely No Refunds, Ebay seems to always consider a full refund of a returned item to be an adequate resolution of any dispute about item quality.

SilverPutz
07-14-2011, 11:26 PM
Since silver prices have trended higher recently, there seems to be much more bidding on ebay's silver items (i.e. Morgan and Peace silver dollars, silver bullion etc) and therefore higher prices on silver items in general.

Has anyone else noticed this on ebay?

:cool: :D :cool: