Regarding my post, tips to buy cheap gold coin, a reader asked and email me "How to buy gold coins in eBay"? Gold prices has steadily going up and today we can see its jump to USD1770. To buy them cheap and below market value, you nee a lot of patience. You cannot just come in and bought gold like you do in Jewelery shop. You need to do your own research and investigating. It took me days to decide whether that particular seller is genuine and honest seller. I am not an experience eBay buyer but I learn from others mistake and tips. Most of my items are Malaysia gold coins.
How to safely buy gold coins in eBay:
1. Only buy from seller with high positive feedback.
High positive feedback in here means you need to look if the seller had been dealing with gold before. How frequently they has been selling gold or gold coins? Do they have any negative feedback? Look at the feedback given by their buyer, read what people say about them. Do people that give them feedback has bought gold from other sellers before? Some feedback maybe are not genuine, you need to check that. For me, I also double check how old the user ID from the seller positive feedback. Anything below 3 months old are suspicious to me. 200 positive feedback already consider as a high positive feedback (If the seller only trade gold).
2. Only buy coins with major services grading
If you're more concern about grading, you should only buy an auction with major grading services (ANACS, NCG, PCGS, NCS, ICG). It will help you avoid buying something with lower grading. I am not into grading since it will cost me more. I just love to find Malaysia gold coins with low market value.
3. Read seller return policy
Make sure you also read sellers return policy. Most sellers have different return policy, some don't allow refund. I will be avoiding this kind of sellers since I am in Malaysia. Sometimes we are not satisfied with the actual coins that we received. Look for something (in their return policy) that will help you when problem happens.
4. Avoid auction with stock pictures
What I mean is auction without the original coin pictures. They're dozens of seller who are using the same old pictures in their sale. If you had seen the picture before that mean something weird is going on.
5. How much you're willing to pay
When buying on eBay, you should stick to how much money you are willing to pay for the coins. You should put into consideration the amount of shipping cost and other fees not just the bidding price. You also need to know your local market value. Most of the time, sellers in other country don't know Malaysia coins price.
Thank you for reading and happy hunting.
