Buying and Selling Protocols here on Coin Talk

Discussion in 'Coin Chat' started by Bman33, Sep 10, 2017.

  1. Bman33

    Bman33 Well-Known Member

    Hi all, I have never used Ebay to purchase coins but am interested in purchasing some here from members. I am a little hesitant going by the trust system so here are the questions that I have: Does the buyer pay first then the seller ships it? What is the most common form of payment? What if the item or items are not as advertised? Any enforcement of the deal by moderators?, ie. they get banned if they don't hold up their end? Do you give the seller or buyer your full name and address? We are dealing with coins here and it's online. Maybe I have some trust issues or they are legit concerns.
     
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  3. rickmp

    rickmp Frequently flatulent.

    CT is not involved. It is a deal between buyer and seller. What ever terms the two agree to are the terms of the deal. Most folks selling or buying here are honest.
     
    RAGNAROK and Kentucky like this.
  4. sakata

    sakata Devil's Advocate

    First time I did a deal the seller wanted me to pay with Paypal no fee. That gave me no recourse if there had been a problem. So I asked for an invoice with the fees added in. I was happy to pay the extra 3% for have the Paypal guarantee. There was no need, of course, because as rickmp says most people here are honest. Second transaction with the same person I did not bother this the invoice.
     
    Kentucky likes this.
  5. stldanceartist

    stldanceartist Minister of Silly Walks

    From my experiences buying and selling here on the forum:

    Yes, a buyer must pay before I ship anything. When a trade is worked out, sometimes I will ship my item at the same time (if I've worked with them before, otherwise I ship as soon as their trade items arrive.)

    The most common form of payment for me has been PayPal and then USPS Money Order. PayPal (regular) offers buyer protection (in fact, I've been told by PP customer service that they automatically side with the buyer no matter what the seller does, which is completely unfair to an honest seller who gets scammed...but gives you an idea of the level of "protection" you have with them.)

    I only rarely have someone have an issue with a coin, because I try to take the best possible images of what I'm selling. One time, though, I did have a world crown come back as counterfeit (a GB Trade Dollar) that fooled both the buyer and myself. I refunded their money.

    There is no enforcement or involvement by CoinTalk in the B/S/T forum, just to make sure that people selling items follow the rules of the B/S/T forum. Transactions are between buyer and seller.

    I use a PO Box as my address when I sell coins. Yes, a buyer must provide a shipping address of some sort.

    EDIT: I always handle negotiations through PM or email. I like having exactly what was discussed in writing. Plus, I have some hearing loss from my time in the engine rooms of my Navy ship, so phone conversations aren't always the easiest for me to hear.

    Many members who sell coins here also have eBay accounts with a feedback profile you can easily check out. If someone is a jerk, or gets a reputation that is less than trustworthy, I just use the "ignore" function here on the forum.

    Yes, there are opportunities to get scammed, but the number of honest sellers here vastly outnumbers the crooks. I'd say trust your gut, and if you're unsure, ask around. Chances are, someone else here has bought from them. Good luck!
     
  6. Santinidollar

    Santinidollar Supporter! Supporter

    I've only done a couple of direct deals with a couple of members here and I think we were both very happy with the outcomes.
     
    Last edited: Sep 10, 2017
  7. ace71499

    ace71499 Young Numismatic

    I've done a couple deals on CT, recently i sold some coins. How it usually goes is the buyer sends a check or cash in the mail (because i didn't have paypal until recently and still don't know how to use it properly), and then the seller sends the product. It is "risky" per say, but i think if you're buying from a member with a "reputation" then you are fine. I would never suggest buying from a member that just joined today.
    In the deal I am in the middle of right now, the buyer sent me a check and once it clears I'm going to send the product out.
    Another thing to think about it, would someone risk scamming you over a low amount of money? They'd never be respected around CT ever again, is it worth it over 50 bucks?
     
    Johndoe2000$ and Kentucky like this.
  8. H8_modern

    H8_modern Attracted to small round-ish art

    I'll echo what was just posted, if a member has been around for a while, you should have no problem. There have been times that I've sent coins before I received payment even though I had never had a transaction with that member just because of how long the member had been here.
     
    green18 likes this.
  9. Kentucky

    Kentucky Supporter! Supporter

    Have never been taken to the cleaners by a CoinTalker. Have used PayPal and have sent checks, no problem.
     
  10. Santinidollar

    Santinidollar Supporter! Supporter

    I'd steer clear of the ones who get their minimum posts -- 10, I believe -- and then start posting ads. It's easy to check how long they've been here. But that's no guarantee of course that you won't get a bad apple.

    You might reconsider eBay. Many of the guys here are active and reliable sellers on that site.
     
    spirityoda and Johndoe2000$ like this.
  11. jtlee321

    jtlee321 Well-Known Member

    I could not have said it better. Your best way to measure risk on this forum is by how long a member has been around. If they have 15 posts and just cleared the minimum to start selling, I'd recommend caution. If they have 2000+ posts and have been around for a couple of years, I'd almost consider it like buying from Amazon.

    Reputation is what makes or breaks a dealer. Someone who is serious about being a dealer is not going to risk their reputation by screwing a guy over on a $100.00 transaction. There are people who's sole purpose is to prey on victims, and they make there rounds through most of the forums. However, they are typically outed pretty quickly and then you never hear from them again. That's where the statement above comes in regarding how long a member has been around.
     
    green18 and Johndoe2000$ like this.
  12. Kentucky

    Kentucky Supporter! Supporter

    BTW, e-bay gets bad-mouthed here regularly. Admitedly there are fakes for sale, but if you exercise due diligence, the buyer is protected. As a matter of fact, it is more the sellers that complain because e-bay takes the buyer's side.
     
    jtlee321 likes this.
  13. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I have had many successful transactions here on CT, and not a single one gone south . . . I think all long-standing CT members are strong candidates worth considering.
     
    Last edited: Sep 11, 2017
  14. Stork

    Stork I deliver Supporter

    At a certain point there has to be trust. They trust you to send good funds (and not do some fancy chargeback) and you trust them to send you the as-described item.

    Do due diligence though...if nothing else you can google the guy/gal's handle along with 'coin' 'seller' 'cointalk' etc. There is at least one name I know that leads to an illuminating thread over on another message board regarding a person who has sold there/lists here too.

    Not only that, don't be shy about asking for references! Someone new here (like me) has been on other online coin forums for years. You can also check their eBay handle to get a feel.

    If someone is bound and determined to rip you off though, they can. The option to use PayPal (not friend/family/gift) version does offer some protection too.

    And if someone starts acting nutty in your exchange/negotiations then trust your gut.
     
  15. COCollector

    COCollector Well-Known Member

  16. Bman33

    Bman33 Well-Known Member

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