Buying and Selling Gold Coins
Things to avoid when buying or selling gold coins: When you are buying or selling valuable coins there are always a few people out to cheat you.
These are some of the methods they use.
When you are selling coins: Always send expensive coins or valuable silver coins by registered post and factor the cost of that into your post and packing charges.
It is a good idea to photograph the coin before you send it as you then have some proof of sending.
Mark the eBay number on the packing inside the coins package.
Do not identify the contents unless you are sending them to another country.
Check the buyers account BEFORE you send very valuable coins.
Thieves steal PayPal accounts and gold coins and jewellery are favourite targets as gold coins are easy to sell.
I had a thief trying to buy a gold bracelet using a PayPal account from Australia- except he wanted it delivered to Manchester England.
I emailed the PayPal account holder and she had been robbed of over $5000 by this creep.
I did not send the bracelet and re-listed it and the same thief tried to buy it again.
He was not lucky.
Other Scams include buyers using stolen cheque books or bank accounts - always ensure the person buying such coins is the real account holder.
When you are Buying expensive Coins: Check the vendors feedback on the auction and avoid any with several negative feedback items.
Especially look out for wrong grading of gold coins as this can make a huge difference to the gold coins value.
Other things to look out for are gold plated coins from China (gold plated over silver they look very real) and gold plated Nazi pre-WWII coins plated over base metals.
Many people have been fooled by these fake copy coins.
Ancient gold coins are also something to be wary of.
Lebanese forgers have produced very realistic forgeries of Roman and Middle Eastern valuable coins.
They have also expanded their range to include medieval European gold coins.
The difference in value between medieval high valued coins and copy similar coins is huge and very lucrative for them.
These turn up at online auctions and in the Gold Souks of Dubai and other Middle Eastern Countries.
Because of the current high prices of gold these vendors have recently resurfaced.
A more recent con trick was played by a nighthawk (illegal treasure hunter) who copied some nice gold roman coins and scattered them near the site of a recognised Roman Temple and 'found' them again in the presence of half a dozen witnesses- thus giving provenance and he was selling them widely until he was caught doing it.
He is currently in jail.
These are some of the methods they use.
When you are selling coins: Always send expensive coins or valuable silver coins by registered post and factor the cost of that into your post and packing charges.
It is a good idea to photograph the coin before you send it as you then have some proof of sending.
Mark the eBay number on the packing inside the coins package.
Do not identify the contents unless you are sending them to another country.
Check the buyers account BEFORE you send very valuable coins.
Thieves steal PayPal accounts and gold coins and jewellery are favourite targets as gold coins are easy to sell.
I had a thief trying to buy a gold bracelet using a PayPal account from Australia- except he wanted it delivered to Manchester England.
I emailed the PayPal account holder and she had been robbed of over $5000 by this creep.
I did not send the bracelet and re-listed it and the same thief tried to buy it again.
He was not lucky.
Other Scams include buyers using stolen cheque books or bank accounts - always ensure the person buying such coins is the real account holder.
When you are Buying expensive Coins: Check the vendors feedback on the auction and avoid any with several negative feedback items.
Especially look out for wrong grading of gold coins as this can make a huge difference to the gold coins value.
Other things to look out for are gold plated coins from China (gold plated over silver they look very real) and gold plated Nazi pre-WWII coins plated over base metals.
Many people have been fooled by these fake copy coins.
Ancient gold coins are also something to be wary of.
Lebanese forgers have produced very realistic forgeries of Roman and Middle Eastern valuable coins.
They have also expanded their range to include medieval European gold coins.
The difference in value between medieval high valued coins and copy similar coins is huge and very lucrative for them.
These turn up at online auctions and in the Gold Souks of Dubai and other Middle Eastern Countries.
Because of the current high prices of gold these vendors have recently resurfaced.
A more recent con trick was played by a nighthawk (illegal treasure hunter) who copied some nice gold roman coins and scattered them near the site of a recognised Roman Temple and 'found' them again in the presence of half a dozen witnesses- thus giving provenance and he was selling them widely until he was caught doing it.
He is currently in jail.
Source...