Buying and Selling Coins on eBay
What to expect in the online world of trading silver and gold coins
The world of coin investing has come full circle as our current technology allows for most anyone to sell almost anything online, including gold and silver coins. In fact, eBay has become a curiously common marketplace for the electronic selling and purchasing of said coins. But is buying and selling coins on eBay for you and, if so, how can you be sure that you’re operating in a fair and professional environment when it comes to these online merchants?
How to buy gold and silver coins on eBay
A quick and easy rule of thumb is to only buy from or sell to vendors that sport a strong 5-star rating with at least 500 ratings or reviews. This would easily suggest that you’re engaging in business with a trustworthy merchant and that your purchase or selling of gold and silver coins is before a safe venue. But how do you come across this information?
When you bring up eBay.com simply type in the search field what you’re looking for. Gold coins. Silver coins. Gold bullion. Palladium. Whatever it may be. The results will quickly generate before you.
Then simply click on a leading result and this will bring you to a very specific page where you will find the name of the vendor alongside the vendor’s rating. If it is a well-trusted vendor it will likely tell you at once that this is a seller/buyer of gold and silver coins who has a 100% approval rating. And if that rating has, let’s say, 320,000 gold stars then it’s all but a certainty that you’re dealing with a top-notch, reliable gold and silver merchant you can safely conduct business with when buying and selling coins on eBay.
It’s a quick and easy way of making sure you’re in the right ballpark as it comes to buying silver and gold coins or even bullion, platinum or palladium.
Selling Silver and Gold Coins on eBay
But how do you sell gold and silver coins if you’re not someone with any genuine experience or ratings on eBay? A quick idea is to simply set up shop and sell something. Anything. A coffee mug. An old jacket you don’t wear anymore.
Once sold, print out a mailing slip, package and ship. Once the item is received you have money in the bank and should get a solid 5-star review. Do this a few times and your rating improves.
Once you’re an established eBay vendor it’s time to try selling your gold or silver coins. But first, you need to determine the actual or near value of your silver, gold or collectible coin and there’s actually a quick and clever way to find this information while on site. Sure, you can look up your coin and see what others are charging for their unsold gold and silver, but the better play here is to search for coins that have recently sold (in the past week or even the past day) because unsold coins might be the result of misplaced or misinformed pricing.
This is done by clicking the ‘Advanced’ button just next to the ‘Search’ button on desktop. Once here, type in the details of your coin, including the year and mint, then look to the input field below. Here, you will see and then select ‘sold listings’ and then check ‘new’ or ‘used’ depending on the coin’s condition.
Then, scroll to the bottom where you find the ‘sort by’ field. Here, you select ‘Price + Shipping: Highest first’. And then search. Now you will see the latest actual purchases starting with the highest dollar amount (with shipping) and a date telling you how recently that gold or silver coin sold. This will give you a quick idea of the general value of your coin in the marketplace and in real time.
In Summary: Buying and Selling Coins on eBay
The online market is full of opportunities as it comes to selling or buying anything, especially as it comes to selling or buying gold or silver coins. It’s a brave new world in this regard so, yes, it might take a brave heart to lead the charge but even courage can fall short or fail the moment if one is not well-informed.
And if you’re unsure of open market sites like eBay, then we simply encourage you to continue browsing this site for more information on how we can help you to land the investment opportunity you’re looking for.
Be smart. Be safe. Happy investing!
About The Author
Jake HaugenFollow @herobullion
Hero Bullion provides an environment that is informative and safe for those looking to own physical gold and silver bullion as an investment. We love helping folks at all stages throughout their bullion journey making progress towards acheiving their financial goals. Whether you are a seasoned bullion investor or brand new to the game of gold and silver bullion ownership, we're here to help and serve you in any way we can.