Bidding on eBay Coins: A Review and Tips

By | March 22, 2015

Bidding on eBay Coins

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           One of the best places to search for coins, either for collections or as pure investments, is on eBay. This global auction house has become a great place to shop. Millions of people place items for sale. Gold and silver coins and bullion are no exception.

Because of its global reach, a lot of people are laying eyes on these coins. In order for them to sell, they will probably be going at or near market value on any given day. This put the odds in favor of the buyer. The transparency and large volume of the eBay market makes pricing real.

Nonetheless, there are some dangers for the collector and investor when acquiring gold and silver online. One of the biggest concerns is that the potential buyer generally does not get to inspect the item “in person”. Here are a few tips to keep in mind as you consider bidding on eBay coins.

 

Tips for Bidding on eBay Coins

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  • Check out the seller’s feedback: Deal only with those sellers who have sold numerous items and have a stellar eBay rating.
  • Make sure the seller has several excellent photos of the coins you’d like to bid on. You will want to see enough detail to determine for yourself that the coin grade matches what is listed by the seller in the description. This is especially important for uncertified coins.
  • Determine the seller’s location. This information is available on eBay. It will enable you to steer away from potential fraudulent dealers.
  • Evaluate the terms of shipping. How will it be delivered, in what time frame and will the shipping be guaranteed.
  • Does the seller have a return policy? This is especially important if you receive the coins and determine that they are of lesser grade that was advertised.
  • Consider making lower cost purchases on eBay. Perhaps you are collecting a series of coins and are looking for a special but not especially rare date. You should be able to find it on eBay and acquire it at a good price.
  • Only pay for your coins by PayPal or credit card. And again, only place bids on items from reputable sellers.



Alternatives to eBay

1932 quarter

 

As you evaluate bidding on eBay coins, make sure you check if the same item is available on Amazon. They also have an excellent supply of gold and silver coins for sale. For example, if you are interested in a 1932-D Washington quarter, one of the key dates in the series, you can find it on Amazon.

Of course, many folks prefer buying their gold and silver through specific online brokers that they know and trust. Please consider our preferred broker, Golden Eagle Coins, especially if you are considering the purchase of investment quality gold and silver such as American Eagles, gold bars and the like.

 

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8 thoughts on “Bidding on eBay Coins: A Review and Tips

  1. Jyl

    A most interesting post. I used to sell Northern Irish bank notes on ebay and found it actually fun and quite enjoyable. The tips that you give are spot on. It’s amazing how many people buy expensive items on ebay from a seller with zero feedback, send cash through the post, then complain about not receiving the item. So these tips are handy for any kind of online auction purchase. I imagine collecting silver would be a very rewarding (and expensive!) hobby 🙂 Great post 🙂

    Reply
    1. admin

      Thanks for visiting and adding these comments. Yes, eBay is a great site to find most anything, often at great prices. Following a few common sense tips makes it safe and rewarding.

      Reply
  2. Ana

    Buying on eBay can be risky. There are many stories out there of people who are dissatisfied. Many times people are so eager to get their item that they don’t even think to check on the seller. That being said, the tips you give here are excellent. Bidding on eBay coins (silver or gold) is an investment and one needs to trust the seller, the seller’s return policy is a great tip that can avoid a lot of stress and build trust.

    Reply
    1. Mike Post author

      There’s always some risk involved in internet business. That’s exactly why I put together these tips. I am an eBay seller and I always offer an unconditional money back guarantee for my items. So far, I have hundreds of happy buyers and only one dissatisfied customer, to whom I cheerfully refunded the whole cost of the purchase. Definitely look at the seller rating. Choose Above Average or better.

      Reply
  3. Fidel

    Great article on where to purchase gold and silver coins. These are very precious and tangible assets that can rise in value and be turned into cash in the near future

    I like the tips you provided on how to avoid getting scammed on eBay and the steps associated with identifying whether a seller is genuine or not.

    Thanks for sharing these tips.

    Reply
    1. Mike Post author

      Hello Fidel,
      Thanks for your comments. Yes indeed, make sure you check the seller’s rating when using eBay. They won’t be selling long if they are not honest and selling with integrity. eBay is very good about making sure the platform has integrity.

      Reply
  4. Boyo

    Your absolutely right that the seller’s reputation is paramount when your buying online. Bay is great as you can read the reviews that have been left by previous purchasers. If your careful then 99% of the time everything goes smoothly. It’s possible now to buy coins from any country in the world. The days of scouring the local markets for coins are slowly but surely disappearing. It’s a shame in some ways but, the opportunity of what you can get online is too much of a draw for dealers and purchasers alike.

    Reply
    1. Mike Post author

      Great points Boyo, and thanks for adding them. Yes indeed, eBay is an excellent platform for buying and selling gold and silver…heck almost anything. See you at the auctions!

      Reply

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