Selling coins on eBay

[Charles Mackay]

If you sell coins on eBay how do you mail them in such a way to protect against fraud....receiver could claim there was nothing in the box? I've used Escrow.Com to sell some domain names but then I wasn't shipping anything.

BTW, ebayPMX has moved. Their new site is:

http://goldprice.org/ebay-gold-prices/

Gold Eagles avg selling price $919
Silver Eagles avg selling price $18.46

[LargoWinch]

Re: Selling coins on eBay

If you sell coins on eBay how do you mail them in such a way to protect against fraud....receiver could claim there was nothing in the box? I've used Escrow.Com to sell some domain names but then I wasn't shipping anything.

BTW, ebayPMX has moved. Their new site is:

http://goldprice.org/ebay-gold-prices/

Gold Eagles avg selling price $919
Silver Eagles avg selling price $18.46

Charles, I have been using ebay for 10 years now and sold/bought several big ticket items.

Note that on ebay, the buyers take most of the risks. I would not pay premium for escrow.com.

As a seller of "big ticket items", simply make sure you have a:

a) proof of item tracking (for Paypal claims. Whatever you do; do not ship regular mail)
b) take a digital picture of your item/shipment/package (open and close)

c) have your spouse or friend witnessing your shipment/packing/posting

d) do not sell to obvious scammers (i.e. account with several negatives, from Nigeria, Russia and the like, recent account acting funny)

e) if you can, send a quick email to the buyer to "feel the deal". The time content of the reply and isp of the email address of the buyer may provide you with very important info. Better cancelling a sour deal than living through a dispute.

Based on the above, you will be quite well prepared in the event of a dispute.

Lastly, use craiglist whenever you can. In my book this system is better than ebay (fraud is more difficult if you act responsibly and no fees).

-W.

[Charles Mackay]

Re: Selling coins on eBay

Thanks LW, I have also sold high ticket items on eBay and never had a problem, but I was wondering if there was a system in place to verify shipping contents. I guess the shipping insurance and as you noted "a witness" is the best you can do.

What about shipping it thru one of those stores like iSold It on Ebay ... would that qualitfy as a better witness? http://877isoldit.com/

Basically I just want to arbitrage comex silver bars @ $11 to silver eagles at $18 and pick up the $7 risk free spread.

[LargoWinch]

Re: Selling coins on eBay

Thanks LW, I have also sold high ticket items on eBay and never had a problem, but I was wondering if there was a system in place to verify shipping contents. I guess the shipping insurance and as you noted "a witness" is the best you can do.

What about shipping it thru one of those stores like iSold It on Ebay ... would that qualitfy as a better witness? http://877isoldit.com/

Basically I just want to arbitrage comex silver bars @ $11 to silver eagles at $18 and pick up the $7 risk free spread.

My understanding is that isoldit.com would take care of the problem for you, although I have never used them.

You would however reduce your profits and would amount to you buying some form of "trouble-free" insurance.

This insurance may not be perfect however; what if the buyer calls back isoldit.com and tell them they received "plated silver" eagles or whatever? I don't think isoldit.com will verify the authenticity of the coins before selling and hence, you may be back to square one.

I think the spread on eBay vs Comex is somewhat reflective of all these concerns, risks and fees (but not all; there is $$$ to be made that is for sure).

[pococansado]

Re: Selling coins on eBay

coin and bullion dealers universally use usps registered mail, so have i on both ends of the trade, back and forth to pcgs, etc. unless things have recently changed, that's the way its done.

http://www.usps.com/send/waystosendm...ailservice.htm