Buying Silver on Ebay
I’d like to share with you a few of the reasons why buying silver on eBay can be a smart move. Now, some people might be thinking, no no ebay is not a good place to buy bullion. It’s full of counterfeits, scammers, and big markups. Now, while all of these things may be present on ebay, they are pretty easy to avoid, and there are also some very compelling reasons TO shop on ebay.
Avoiding Scams
First of all, the easiest way to avoid scams on ebay is to just shop with companies you already trust. You may not realize it, but many of the big bullion dealers, such as JM Bullion, Apmex, and MCM sell on ebay. So if you’d feel comfortable shopping on the JM Bullion website, you should also feel comfortable buying from them on ebay. In fact, it’s safer to buy from them on ebay, because you have additional protection in the form of ebay’s buyer protection.
Advantages
Now, you might be asking, why not just buy directly from these dealers? Why shop on ebay at all? You might find this surprising, but many of these dealers frequently have sales on ebay with pricing that is better than on their actual websites. Additionally, orders almost always have free shipping, regardless of how much you are ordering. Typically you can order smaller quantities and still get great prices, unlike on many dealer’s websites where you need to order larger volumes to get the best price. One final huge advantage is you can pay with a credit card with no penalty. Many dealers, including APMEX and JM Bullion, provide discounts on their websites when you pay with cash, check, or wire transfer. A premium is charged if you choose to use a credit card.
This is not the case on ebay. You can pay however you want, credit card, debit card, paypal and so on with no penalty. This is a big advantage, especially if you use a cash back card. There are lots of no fee cards out there that offer 1 or 1.5 percent cash back, and being able to take advantage of that can mean a lot of savings, especially on larger orders.
Case in Point
To give you an example, in the video above I’m looking at a 10 oz bar that JM bullion currently has for sale on ebay. The bar has a very low markup over spot, ships for free, and you can pay for this with your cash back credit card. What’s even better, you only have to order 1 to get the low markup. Now, you can order more, but you don’t have to to qualify for volume pricing of any kind.
In the video I also take a look at JM Bullion’s website, and all of the 10 oz bars they are offering there. These are sorted by price, and you can see the best price they have on a 10 oz bar is more than the cost on their ebay listing. And in order to qualify for the best price on the website, you have to order 50+ bars and pay with check, wire, or bitcoins.
How to Find More Great Deals
So, that pretty much covers the reasons I like to buy bullion on ebay. Don’t get me wrong, deals are out there on dealer sites as well, but ebay frequently has the best offerings. If you’d like to find more great deals on silver bullion like the 10oz bar in the video, follow me on twitter @stacksmarter, where I post daily stacker alerts linking to the best deals I can find.