EBay – Buying Strategies and Chilling Out

by Coin Friend on October 24, 2011

One of my interests is in buying gold bullion for as we know the value of Gold is increasing well, though if you evaluate the cost of silver you will see that dollar for dollar you are much better of f doing silver. Got a little side tracked there for a moment but back on track about gold.

From time to time you can find decent buys on gold on eBay when you have a seller that is distress pricing to pick up some quick cash. A day not so far back I had been doing one my usual looking through the gold listings and I happened on a "MINI WALKING LIBERTY GOLD BULLION COIN" and the auction was ending in 2 minutes so I switched over to it and saw there were 3 bids with the current price at 3.00 and the time counting down so I entered a 5.00 max bid and won the auction at 2.75 with free shipping. I bounced back to where I was in the search and saw another 3 or 4 ending within 3 - 5 minutes so I went out and entered 5.00 max bids on those also and had won those auctions also for under 3.00 or so with 5 coins for 15.00 with one coin won at.99 with a.99 shipping from the same seller.

So here I am feeling I did well, for these coins looked real nice while thinking how could I go wrong? Well here is the rest of the story as Paul Harvey would say. Buyer Beware!

My first bit of advice is NOT to buy spontaneously unless you know exactly what it is you are buying and what the value is. Why? Well in this instance the pictures of the gold coins were at least a 10X magnification, the coins themselves are a heavy electroplating of 22K gold and the coin wholesale value is 00.99. In the listing the seller had in 8pt light gray font that the buyer must do his research on this particular coin before entering into an auction.

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