I just thought I would warn everyone about the 1 Gram of Silver Ebay Scam. So basically people are selling 1 gram bars of silver on Ebay for $5 each. It takes 32 grams to equal one oz of silver so you are paying $160/oz silver. This is ridiculous. Always pay attention to the premiums you are paying on Precious Metals.
This is very interesting to me. Thanks for pointing this out. Although I would have never paid for that price regardless. This makes me wonder though, is it really a gram of .925/.999 silver that they send you? And are people actually buying these up? If that's the case, smart marketing on behalf of the users who implemented it. It's a dog eat dog world out here, and the people who understand business and ways to exploit are the ones who end up on top.
The real scam is when they don't send you real .999 silver, not the price of the silver. However, even if they do send real .999 silver grams, I would stay clear from these sales as they are not healthy for your wallet. If you can only afford a one gram bar, order it from somewhere reputable and order more than one.
Saw an interesting take on this recently where an ebay seller was auctioning a one grain bar. It wasn't really deceptive, as the seller did in the listing clearly state that it was a grain, but the bidders seemed to be bidding as if it was a gram.
I think its funny I always hear funny/wrong ads on ebay. Selling a picture of a product, a box of a product. Whos wrong the scamming seller or the idiot buyer not paying attention to what he/she is buying.
People always fall for these things, personally I feel bad for the persons that make these mistakes though as they are generally older persons who are very naive when it comes to the internet and money.
Buying anything off of Ebay is always 'buyer beware'!! I personally do not buy any electronics and only deal with the purchase of Gold and Silver at my local reputable coin dealer! You work very very hard for your money, don't throw it away on a scam, research research research....!
Thanks for the reminder about the eBay scams out there. It is scary what people are trying to get away with. When you buy something on eBay, you never know what you are really buying. It is helpful to look at the seller's previous feedback to find out if the items they are selling are legit or not.
Well ebay has a bad rep for these scams, but in all honesty if your smart enough and take the time you should be safe on ebay. If a seller has 500+ feedbacks with a 98% positive score its a safe bet your auction is safe.
