1/20oz Gold coin sold for $530 on eBay

Discussion in 'Gold' started by SteelHand, May 1, 2020.

  1. SteelHand

    SteelHand Active Member Silver Stacker

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  2. SteelHand

    SteelHand Active Member Silver Stacker

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  3. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    This is the type of stupid thing that you may do when you listen to Mike Baloney, Peter Schitt, etc.
     
  4. ozcopper

    ozcopper Administrator Staff Member

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    Bargain :D
     
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  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Jeez i didn't know people were that desperate for gold fractionals
     
  6. Michael Stevens

    Michael Stevens Well-Known Member Silver Stacker

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  7. madaw1

    madaw1 Well-Known Member

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    Not at all-this is Ebay!!!. I've seen the gay has bought( fake or not) the photo of the ghost for 100K on Ebay,so $530 for 1/20 of gold is really Bargain as per @ozcopper post...
     
  8. SteelHand

    SteelHand Active Member Silver Stacker

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    Only $400 over spot lol
     
  9. Chris_

    Chris_ New Member

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  10. Michael Stevens

    Michael Stevens Well-Known Member Silver Stacker

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    Not sure about the ghost photo lol but if buyers are willing to pay me over $10k per ozt for my fractionals I guess I may start selling on Ebay!!!
     
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  11. Michael Stevens

    Michael Stevens Well-Known Member Silver Stacker

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    Apparently the seller didn't even know what they were selling..........listed as 22k.
     
  12. long john silver

    long john silver Member

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    Wow, and I thought my lessons as a new PM investor were expensive!

    Bad form from the seller advertising it as a proof coin although the certificate clearly says bullion quality.

    Caveat emptor........
     
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  13. Chris_

    Chris_ New Member

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    My opinion with regards to eBay is you have to factor into your price not only the 13% or so they and Paypal take but the risk of something going wrong and a dispute arising.
    The stories around show they tend to protect the buyer more than the seller.

    As for sellers not knowing what they have, I see it from time to time. Can't really capitalize on it as most buyers know what it is and bid accordingly.
     
  14. Tin Can

    Tin Can Member

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    I am not all that surprised. Some eBay buyers pay more for PM and RAM products than the price direct from the mint website.
     
  15. BobTB

    BobTB Member

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    Buyer must have thought it is a 1/2 oz. Seller should have stated the 1/20 oz in listing
     
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  16. Tin Can

    Tin Can Member

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    But unlikely the other 60-odd bidders also thought it was a half ounce (1/2oz) gold coin.
     
  17. SteelHand

    SteelHand Active Member Silver Stacker

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    Some people get "target fixated" and can't let it go. I have done that in the past on eBay when I was younger and not a wise lol
     
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  18. 66rounds

    66rounds Well-Known Member Silver Stacker

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    530x20=10,600
    The price is fixed boys, physical worth 10.6k an oz!
     
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  19. Jason1

    Jason1 Well-Known Member

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    I think there is allot of newbies who dont know there are other places to buy gold and silver besides ebay, and use the sold feature to get an idea of gold and silvers price rather than googling spot price as base line. So they just pay to much when they dont have to. because of al lthat shitty cheap Chinese electronics that are sold cheap on ebay they think everything on ebay must be cheap lol
     
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  20. RobHDiaz

    RobHDiaz New Member

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    it's not like these people paid for this years fractional gold, these were over 10 yr old coins, so they're kind of paying collectable premium. Just take a simple look at some online shops selling old perth mint gold coins, the older they are they more they try to sell them for.
     

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