Buying goods on eBay can be great fun, but there are also aspects of shopping in this way that can put people off doing so. While there are bargains to be had for the knowledgeable collector, for most people it is just a convenient way to buy silver at a fair price, from a range of dealers, based all over the country or even all around the world.
The Risks of Shopping for Silver on eBay
Buying any goods online can be risky. You never really know if the merchant will ship the goods, or if they do, whether they will arrive or not. It can be even harder to find out exactly what you are buying until it arrives on your doorstep, after you have made the payment.
However, most online retailers are keen to protect their reputation and brand. This means that they would never dream of being dishonest and either not sending the goods or miss-selling something.
However, when it comes to eBay, and dealing with individual sellers, rather than online business, the chances of someone being dishonest could be higher. Without an online brand or reputation to protect, apart from their eBay account, private sellers have less incentive to be honest and fair in their dealings. While most people follow the rules and are honest, a small bunch of untrustworthy users can ruin it for everyone else.
So while eBay does everything in its powers to police their online auctions, significantly reducing the risk of something untoward taking place, some shoppers still have the perception that it is a slightly risky way to shop.
When you consider the extra factors involved in buying silver, such as whether the goods are legitimate or not, not to mention the often large sums of money involved, this should come as no surprise.
How to Safely Buy Silver on eBay
The first step you should take when shopping for silver on eBay is to only view the goods listed by sellers with a positive rating and plenty of eBay experience and feedback as a seller. The next step is to thoroughly research the type of items you are intending to buy. This research should include things like the value of the items, when they were minted and where, as well as any other facts to help you spot any suspicious looking listings.
Another way to maximise the chances of experiencing a positive transaction is to buy through the eBay shop of a well-known silver dealer. Often local coin shops sell their goods online via an eBay store.
This is done to circumvent the cost and time it takes to setup an ecommerce website that is linked to their stores inventory. Managing an eBay store is a much easier way for smaller operations to sell online. By buying in this way, you at least have a physical store to call and visit should something go wrong, or if you have any queries before bidding.
When it comes to bidding on an item, hopefully your research will have told you how much it is worth. Use this information to avoid paying over the odds for something. If the price you think the silver is worth is reached, pull out of the running. As the silver is going to be an investment, paying more than it is worth will cut into any profits you might make when the value of silver goes up in the future.
Baying silver on eBay is a great way to shop for this and other precious metals but it is not without its problems.