Got a $25 ebay gift card today and tried to buy a NORFED with it, it kept saying that the code couldn't be applied to some of my items. I've bought bullion, including NORFEDs with ebay gift cards several times in the past. It doesn't say anything about it on the terms and conditions on the back of the card, but it's on their website. Wouldn't've bought the stupid card if it said so on the back Gonna have to figure out some non-coin item to buy with it. What's the reason behind this new policy?
I think this sums up the reason well: https://www.cointalk.com/threads/ebay-gift-cards-no-longer-accepted-for-coins.283166/
It probably has to do with money laundering. Might have to Google finCEN and see if it mentions anything. On my phone so I can't at the moment
I used to buy ebay gift cards at kroger to get fuel points, and no longer do it. Bummer they changed the rules.
I'm sure someone, somewhere, realized that an eBay/Kroger customer could generate a (tiny and labor-intensive) labor stream this way: 1) Open an eBay Store, which grants you a 6% FVF on items in the Coin category. 2) Buy gift cards with an offer like Kroger's (buy $250 worth of gift cards, get $1.00 off per gallon of gas on one fill-up of up to 35 gallons, for a savings of $35). 3) Sell coins to yourself (with non-PayPal "payment", of course) for $250 at a total FVF cost of $15. 4) Profit! ...very slowly. If you've only got a 20-gallon tank, you only make $5 per cycle, even if you've drained it dry before you fill up. And you've got to earn back the $20/month store fee. But that still doesn't make sense, because you could just as easily sell yourself computers and tablets, where the FVF for a store is just 4%! At that rate, you'd only be paying $10 FVF per $250. So I think it must come down to this: Someone at eBay decided that people were using Coins and Paper Money as a way to essentially cash in eBay gift cards. As I hope I've just shown, this is stupid and wrong, but I know of no way to convince the people making the decisions.
