Here are some tips to consider while bidding on eBay

  1. Know how much the coin or bar is worth. Is it collectible or only worth the melt value? If it is collectible what is the grade? Do your research. One great resource for coin values is the Red book or Blue Book of coin values. Buy them both. You can get paperback versions for probably $8 to $10 bucks.
  2. If you are buying for melt value know the gold content. That is either the grams of ounces of pure gold. One thing I have done is set up a spreadsheet with the coins or bars listed in the left hand column, the grams and ounces in the top row and a cell with the current gold value that feeds the melt value of the coin or bar. I also have another cell where I put the number of coins in the lot (if it is a lot) and I get a total value for those coins or bars. I have a cell for the total and the shipping costs. The shipping cost is subtracted from the total and that is my bid. If I really want the coin I may go a little higher but normally I stick to my guns and try to buy for melt value.
  3. Look for newbies on eBay. They usually don''t take very good pictures, they don''t have much feedback so people are a little scared to buy from them but sometimes you can get some good deals.
  4. Look for mixed lots of coins and bullion. People are lazy and don''t like to do the calculations for the worth of lots. I have gotten my best deals with mixed lots. Take the time and calculate the net worth. You can get some pretty nice coins this way also.
  5. Look for somebody selling a lot of coins or bullion on the same day, see if they combine shipping, if they do you can adjust your bidding accordingly and spread your shipping costs across multiple items. I have also gotten good deals this way.
  6. Look for items ending midmorning on weekdays or maybe in the middle of the night during the week. Just odd times. These are usually newbies who don''t know the best times to end auctions.
  7. Beware of someone with 1000''s of ratings and poor pictures. They may be posing as newbies. Go with your gut. If it looks too good to be true, it probably is.
  8. Beware of copy coins. You really need to read all of the ad. Don''t just bid. Read the item description and shipping details carefully.
  9. Look at the shipping costs. You can really get hit here sometimes. Make sure you take them into consideration when bidding.
  10. Don''t be afraid to ask pointed questions. A good honest seller will provide complete and prompt answers.
  11. Use the watch feature on the eBay item. In your watch list you can add notes. This is where I enter the values that I think the item is worth. If it goes over that as it gets close to the end of bidding I don''t bother.

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