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

madaw1 said:
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 post...
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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!!!
 
SteelHand said:
People are going a little bit FOMO at the moment......

https://www.ebay.com.au/itm/2008-GOLD-AUSTRALIAN-KANGAROO-COIN-NO-RESERVE-/193436230778?_trksid=p2047675.l2557&autorefresh=true&ssPageName=STRK:MEBIDX:IT&nma=true&si=xM1RVP%2BrLdrwa6rtHN%2FMgpPr5rQ%3D&orig_cvip=true&nordt=true&rt=nc
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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........
 
Michael Stevens said:
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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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.
 
I am not all that surprised. Some eBay buyers pay more for PM and RAM products than the price direct from the mint website.
 
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
 
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
 
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.
 
RobHDiaz said:
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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$400 over spot is one hell of a premium......
 
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