Is it safe to buy silver on eBay?
The world of eBay is complex, there has been no shortage of unhappy eBayer's in the past mixed in with far more happy shoppers, but investing in precious metals like silver requires more trust than buying an old board game.
It can be done safely as long as you follow some basic guidelines and use common sense.
The feedback system on eBay is a miracle. It revolutionized the way we make online purchases. Use this system to your advantage!
We must be very cautious when buying any item from a complete stranger, especially precious metals of any type.
I have made a few test purchases on eBay and have had success doing so. One time I did receive what appeared to be a slightly bent 1 oz round, not a big deal, but nontheless difficult to prove that it was the postal service or the seller. (y the way, I was able to straighten it without damage) I will try to explain my line of thinking regarding eBay silver.
Read the fine print...
The first thing you need to do if you've found an interesting coin, round, or bar of silver that you just can't live without would be to read the item description carefully. This may sound strange to some people, but it is important to read the fine print and everything in between.
Sellers on eBay must accurately describe their item or they can be held responsible for a transaction gone wrong. Next I would look closely at the associated picture of the item. Does the item description match the picture exactly?
If so, you should pay close attention to the item's originating country. I would be careful not to buy silver from a foreign place that you are not comfortable with.
Now look at the shipping cost because you should figure this into your final bid, otherwise you may find yourself overpaying. Now look at the seller's history. Does this person sell silver regularly? Is this a coin dealer?
The person selling the silver and a paper trail of past items is a good way to feel out the seller.
Lastly, the feedback rating is critical. Study it carefully and don't pull the trigger on it and bid if you're not completely sure you're willing to commit.
You can check eBay from here if you think you are ready, start your search here...
Once you've been bitten by the bug, you'll find yourself collecting. The next dilemna is exactly what to collect. Small amounts of silver are available to the retail investor in a few different forms. It is sold in rounds, bars, and in the form of government currency.
Next I'll explain my personal investment choices. Read more about investing in coins, rounds, or bars.
See Also: Buying Silver Online | Silver Investing FAQ | Silver Investing 101 | Silver Showcase | Retiring with Silver | Silver in a 401K Retirement Plan | Coins, Rounds, or Bars | Get Rich with Silver | One Oz Silver Rounds | Where to Buy Silver Safely | Physical Silver VS Paper Investments