Don't do it!! Don't do it, you're paying way too high of a premium! Anyone want to add their ideas on buying gold? Comments anyone?
I bought the bulk of mine more than twenty years ago when the market made a little more sense. Since then I have only added when a fortunate deal crossed my path. I am reasonably adept at avoiding a problem.... But these days, I couldn't make myself purchase gold from somebody I didn't know.
I have no gold yet, but I am always skeptical to think of purchasing it online when it is not from a reputable dealer.
I've bought a few and seen plenty of other good deals on gold on eBay. There were multiple instances of name-brand gold (AGE, Buffalo, Perth, Maple, etc) for lower premiums over spot than anything at a coin store or show (especially before the recent spike in premiums). Stick with the big sellers and you will be fine.
When you combined APMEX sales with 10% Ebay bucks, there were good deals to be had in the not-so-distant past. Sadly, those days seem to be long gone, at least at current prices.
Actually there are quite a few reputable sellers of gold coins on ebay but still you'd have to pay though the nose. Yes, I have heard of people getting good or fair deals with ebay bucks, but like you said that's a thing of the past. I never buy gold coins off of ebay anymore unless it's a gold coin that I'm not able to buy at my LCS. Buying directly from a coin shop is always going to get you the best buy as you're buying gold by weight. Meaning if gold is up to $1750 an ounce, you can normally buy a 1/4 American Gold Eagle for 1/4 the price of an ounce which in this case is $437.50 plus a small premium, usually $20, maybe $30. Of course, tax would be added to that, so you can do the math for your final price. If you bought the same 1/4 American Gold Eagle coin off of ebay you would be paying well over $500, plus tax easily. I've made a number of ebay buys before I realized it, so I definitely paid my dues. It's a lot easier to make friends with a coin shop owner or their workers as that's how you get the really good deals!
https://www.ebay.com/itm/United-Sta...5-Gold-1-Silver-amp-Half-Dollar-/143623626552 A gold/silver/clad 1986 proof set, listed at $410, about two weeks ago, at a point when melt for the gold was around $415. It sold nine minutes after the listing went up. Yes, you can get deals on gold on eBay. But you need to be persistent, fast, and lucky. And patient.
Sure thing, I've gotten some good deals on ebay, just last year. That said, with the price of gold being as high as it this year, there's just too much competition for my time! And the price you pay bidding on American gold coins is unbelievable!
Never, ever buy bars. A local bullion dealer got an APMEX 1oz. Gold bar that ended up being Tungsten. He got it from one of the largest wholesale metals vendors in the U.S. They happily replaced it. Luckily he ran it through an annealing furnace that burned off most of the plating.
I got some good deals on Gold Eagles from APMEX on eBay a while back before the price ran up and the premiums got absurd. Now I buy shares in an ETF.
I saw the thread title and went straight to typing. The only thought that entered my mind was Don't Do It!
That sucks and obviously an employee most likely did a switcheroo! Sometimes, you never know it's real until you get it tested. Luckily for the buyer, he was able to prove his case.
Here's a very reputable seller on ebay, problem is everyone knows it so his auctions sell for top dollar! I've personally bought gold coins from him last year. Still, best to buy gold coins in person from a reputable coin shop! https://www.ebay.com/sch/m.html?_od...TR10.TRC4.A0.H0.Xgold.TRS2&_nkw=gold&_sacat=0