How does it work? I see people like House with 100+ trade points and such. Do you guy's meet up and exchange cash for goods or what? I would rather buy silver from these forum member's then at a high premium in retail. Thank you
You can buy at the meetings Arrange for face to face (F2F) transactions in Public Pay by bank deposit and get the silver sent to your Post Office Box (Rather than your home address, it doesn't pay to advertise) After the transaction is over you can leave feedback for each other
I got zero trades though so, need' to learn from somewhere I know roughly how it works but It's just how can you trust a stranger that is offering you gold or silver when there's so many fakes out there
It is a risk. You don't know the seller, their address or much else. You can't see the product, feel it, weigh it etc. Add in the risk of sending items through the postal service (which is fairly low risk but still causes a bit of anxiety) It is not for the faint hearted. Personally when just starting out I would go to coin shops, then move onto reputable internet dealers, then Silver Stacker meetings, then via post and finaly, face to face. The last two are interchangeable, I ahve only done a couple of F2F but they were fine.
Its more how can the stranger trust you. Agree on a price, send the money, they send the silver. If its one of your first trades and you are selling expect to have people request that you send the goods first. Build up a relationship with some of the members or even a couple of FTFs.
When i first trade, i buy from reputable Member. You can tell by their feedback and reccomendation from other stackers. If possible, go and attend the meet. I learn a lot from the regular at the meet. Its so much easier to ask question in person rather than typing it away.
Just buy from someone and they'll generally give you feedback. Its not hard. , I would have thought that it is fairly obvious by now if someone thought about it. Not everything needs an explanation.
