Avoid Buying Fake Coins on EBay
First let me tell you that I buy on EBay all the time! I think it is one of the most convenient ways to look for good deals on silver and gold. I have purchased gold and silver coins, rounds, and bars. However, along with an increased bullion price, the incidents of fake bullion coins that are being reported has increased. What has also come out, is that some of the fake bullion was made so cleverly that the seller is not even aware that they are seling a fake.
#1 Tip To Avoid Getting Scammed on EBay — Use a Trusted Seller with lots of good feedback, and prefer sellers in your own country!
At the risk of being politically incorrect, I would say to avoid bullion sellers in Asia or Eastern Europe. These seems to be the root of many fake bullion coins, though of course, many legitimate Asian and Eastern European bullion dealers are out there. The problem is, when you do have a problem, it may be very hard to get your money back.
On the other hand, if you deal with a US or Canadian seller who has a clear return policy, they are much more likely to care about their business reputation, and they will want to keep their buyers happy, even if it means eating a loss on a returned coin. Look for sellers with high feedback ratings, and those who have been in business for awhile. Look for feedback near 100%. Every seller who has been in business for awhile, will risk getting a negative feedback or two. Even sellers who really go the extra mile, will have a buyer who would rather apply negative feedback then communicate. So if you find a seller with 100’s of positive feedback ratings, but one or two negative ratings, I would look into the reasons for the negative feedback.
Use the EBAY GUIDE TO FAKE COINS AND BULLION. EBay community members are probably your best source of information, and they have published many guides on signs to look for. Of course, one big sign, is a “BUY IT NOW” price that is too good to be true. If you think you have found a bargain from a stupid seller, you have very likely stumbled onto a fake precious metals scam!
Again, I have hundreds of satisfactory transactions on EBay, and I will continue to buy US silver coins, and other precious bullion in the form of coins, rounds or bars. But I will take the time to check out the seller’s previous transactions and educate myself on the many silver and gold scams out there!
fake bullion, fake ebay coins, ebay scams
Technorati Tags: fake bullion, fake ebay coins, ebay scams
Related posts:
