Why are preople buying Royal Mint coins from ebay?

[theylivewesleep27]

I have noticed that a lot of people are selling gold and silver 2021 coins from the Royal mint on ebay, for way more than it costs to buy it directly from the mint, and people are buying them? I really don't understand this. Can anyone explain?

[MickB]

2 minutes ago, theylivewesleep27 said:

I have noticed that a lot of people are selling gold and silver 2021 coins from the Royal mint on ebay, for way more than it costs to buy it directly from the mint, and people are buying them? I really don't understand this. Can anyone explain?

Lack of knowledge with the buyers who don't search on the internet for other suppliers. 

[HerefordBullyun]

3 minutes ago, theylivewesleep27 said:

I have noticed that a lot of people are selling gold and silver 2021 coins from the Royal mint on ebay, for way more than it costs to buy it directly from the mint, and people are buying them? I really don't understand this. Can anyone explain?

Part FOMO and partly niaeve.

Some people have the gift of the gab and try to sell snow to Arabs.

 

[Spark268]

i would have thought selling snow to Arabs would be quite a profitable enterprise - its the eskimos who might not want to pay that much for it.

 

sorry, nothing else to add to the thread 🤪

[HerefordBullyun]

20 minutes ago, Spark268 said:

i would have thought selling snow to Arabs would be quite a profitable enterprise - its the eskimos who might not want to pay that much for it.

 

sorry, nothing else to add to the thread 🤪

I'm off to sell sand to the Eskimos. They might need the odd sand eggtimer

[Midasfrog]

2 hours ago, HerefordBullyun said:

Part FOMO and partly niaeve.

Some people have the gift of the gab and try to sell snow to Arabs.

 

I have tried selling snow on Ebay , sales were good but there were to many customer complaints saying item received was completely different to what was shown in the listing photos 🤔 😅

[SidS]

OT I know, but the best thing I ever saw for sale on eBay was the air guitar. The seller gave very detailed and precise descriptions of said instrument and held it in several poses and detailed his regrets about having to sell it. He also threw in a 'free' (and very real) guitar stand with it as a bonus.

Ingenious I thought, to sell a boring and non descript object such as a guitar stand in such an innovative way.

[HerefordBullyun]

32 minutes ago, SidS said:

OT I know, but the best thing I ever saw for sale on eBay was the air guitar. The seller gave very detailed and precise descriptions of said instrument and held it in several poses and detailed his regrets about having to sell it. He also threw in a 'free' (and very real) guitar stand with it as a bonus.

Ingenious I thought, to sell a boring and non descript object such as a guitar stand in such an innovative way.

I may list a chocolate fireguard and an ashtray for a motorcycle.

A left handed screwdriver with some tartan paint.

I will let you know how I get on...

[SidS]

I look forward to it!

[Pete]

Have you remembered to add 20% VAT to the advertised prices on the Royal Mint website for silver coins ?

[Foster88]

1 hour ago, HerefordBullyun said:

I may list a chocolate fireguard and an ashtray for a motorcycle.

A left handed screwdriver with some tartan paint.

I will let you know how I get on...

Don’t forget the four candles or is it fork handles? 🤔

[CoinStruck]

My best buy last year was a 2020 proof sovereign from Australian eBay. It was buy now for close to Spot. I bought it expecting a scam or a handled coin, received it and sent it for conservation and grading with PCGS, Came back PR70DCAM. BEST EBAY BUY EVER!

[Spark268]

i suppose that you have to screen for actual completed sales to see more realistic prices, rather than ads for people trying to push their luck.

On occasion, some people do get caught up with their bids and overdo it, but you literally have a minute or less to make a decision also

[theylivewesleep27]

21 minutes ago, Spark268 said:

i suppose that you have to screen for actual completed sales to see more realistic prices, rather than ads for people trying to push their luck.

On occasion, some people do get caught up with their bids and overdo it, but you literally have a minute or less to make a decision also

Ive been watching a few gold coins and bars on ebay and people keep bidding for them way past the amount you can get them for directly from the royal mint. seems crazy. I might start buying from the mint and listing straight on ebay lol

[Murph]

Lots of things sell for more than you can buy then for new elsewhere but some people still buy them on eBay.  I doubt most of the sellers make much, if any profit if they are selling single items they have sourced.

[HerefordBullyun]

16 minutes ago, theylivewesleep27 said:

Ive been watching a few gold coins and bars on ebay and people keep bidding for them way past the amount you can get them for directly from the royal mint. seems crazy. I might start buying from the mint and listing straight on ebay lol

Just be very careful I never use eBay loads of scammers and people trying to spoof you by saying the coin is fake once you supplied it and then they get a refund to boot.

It's a nightmare. There are few people on TSF who have had Thier fingers burned.

[Spark268]

30 minutes ago, theylivewesleep27 said:

Ive been watching a few gold coins and bars on ebay and people keep bidding for them way past the amount you can get them for directly from the royal mint. seems crazy. I might start buying from the mint and listing straight on ebay lol

are these the more collectible coins rather than bullion coins?

2oz gold krugs in a bid auction went to spot+5%, which looks like a good deal atm for bullion. once fees taken into account seller might get below spot/same as with dealer or worse.

for recent sovereigns the most recent bid auctions have completed at 330-350 plus postage, so a healthy premium.

 

[theylivewesleep27]

41 minutes ago, Spark268 said:

are these the more collectible coins rather than bullion coins?

2oz gold krugs in a bid auction went to spot+5%, which looks like a good deal atm for bullion. once fees taken into account seller might get below spot/same as with dealer or worse.

for recent sovereigns the most recent bid auctions have completed at 330-350 plus postage, so a healthy premium.

 

I was looking at new 2021 britannia coins and also bars. Both avalible from royal mint site and people are paying over £100 more than they should be lol

 

[Isitreal]

1 hour ago, HerefordBullyun said:

Just be very careful I never use eBay loads of scammers and people trying to spoof you by saying the coin is fake once you supplied it and then they get a refund to boot.

It's a nightmare. There are few people on TSF who have had Thier fingers burned.

What is the best way to combat the scammers? take a close up photo of the coin and let them know before they buy that you have proof/evidence that the coin they receive is gold and not to send back a fake?   

[HerefordBullyun]

2 minutes ago, Isitreal said:

What is the best way to combat the scammers? take a close up photo of the coin and let them know before they buy that you have proof/evidence that the coin they receive is gold and not to send back a fake?   

Sell it on here. People are generally genuine. Ok you are not going to get ludicrous prices. But I wouldn't know as I don't sell on eBay some of guys do. But I avoid like the plague.

People who play games on here get banned very quickly.

[Spark268]

22 minutes ago, theylivewesleep27 said:

I was looking at new 2021 britannia coins and also bars. Both avalible from royal mint site and people are paying over £100 more than they should be lol

 

ahh i see. it would be the most obvious place to check but in the bidders defence, these are out of stock elsewhere, and might take a while to deliver even if bought direct. I no longer look at their shop as they are usually more expensive than dealers, so it can happen to the best of us 😛

 

[sovereignsteve]

4 hours ago, Foster88 said:

Don’t forget the four candles or is it fork handles? 🤔

hose

[TringSilver]

1 minute ago, sovereignsteve said:

hose

Plugs

[Isitreal]

34 minutes ago, HerefordBullyun said:

Sell it on here. People are generally genuine. Ok you are not going to get ludicrous prices. But I wouldn't know as I don't sell on eBay some of guys do. But I avoid like the plague.

People who play games on here get banned very quickly.

Ok, sounds good to me but won't be selling anything for at least 15 years when I retire 👍

[Chrissyblards1]

22 hours ago, theylivewesleep27 said:

I have noticed that a lot of people are selling gold and silver 2021 coins from the Royal mint on ebay, for way more than it costs to buy it directly from the mint, and people are buying them? I really don't understand this. Can anyone explain?

As people have said here. Fomo. Damn, the Royal Mint are expensive anyway let alone someone adding more. They add eBay and PayPal expenses on top also which are scandalous themselves. He shiny stuff is hard to wait and be patient for. 

Just now, Chrissyblards1 said:

As people have said here. Fomo. Damn, the Royal Mint are expensive anyway let alone someone adding more. They add eBay and PayPal expenses on top also which are scandalous themselves. He shiny stuff is hard to wait and be patient for. 

The