Pitfalls of buying Sovereigns on eBay... first hand experience!

[Esjayc]

I purchased a 1910 S half sovereign on eBay from a member with 100% positive feedback. A low mintage coin of 474,000 from the Sydney mint (as per the 's' on the coin's reverse). I did pay a premium for it. 

I was excited for it to arrive today, and had my Sigma Mini Pro at the ready to verify it, with an 'unboxing' video ready be to taken - an insurance policy I use when purchasing anything online these days.

I purchased the Sigma Mini Pro so that I don't get caught out. Whilst I have been into PMs for a while and I'm pretty good at recognising genuine coins... you never know!

Pleased that the coin which arrived today was indeed a genuine half sovereign... and from 1910... but crucially, not Sydney mint, and with more wear.

It's a more-worn London mint, with 22,379,624 minted. 

The seller only had this one coin listed... so perhaps they got confused with another coin in their possession and sent the wrong one (they've got 100% positive feedback, so got to give some benefit of the doubt). Needless to say, I sent screen captures of the video to the seller, as well as photos comparing the differences in the coin via eBay messages.

Apparently, they have '3 days to respond' and then, I can open an 'item received not as described' case. We shall see what happens next - wish me luck!

The pitfalls of buying Sovereigns (and any other PMs) from eBay.

[modofantasma]

eBay is on your side if the seller does nothing after 3 days they force the return and refund the buyer I believe regardless of what the coin is like and what proof the seller has (great if you're a buyer) 

[Esjayc]

2 minutes ago, modofantasma said:

eBay is on your side if the seller does nothing after 3 days they force the return and refund the buyer I believe regardless of what the coin is like and what proof the seller has (great if you're a buyer) 

Thank you for this reassurance, it's rare for me to use eBay, and I've not been in a situation like this for many years. Last time I got caught (not buying PMs) was a seller who just sent an empty box. This is why I always video myself opening anything, which I receive online!

[paulmerton]

Well it's clearly a different coin, and from what you've said I don't think you have anything to worry about really.

When something similar happened to me a while back (the seller sent me the wrong coin, and I also had a video thankfully!), the seller immediately started acting VERY strange and ended up earning himself a visit from the police for harassment and malicious communications.

[Esjayc]

30 minutes ago, paulmerton said:

Well it's clearly a different coin, and from what you've said I don't think you have anything to worry about really.

When something similar happened to me a while back (the seller sent me the wrong coin, and I also had a video thankfully!), the seller immediately started acting VERY strange and ended up earning himself a visit from the police for harassment and malicious communications.

I'm sorry to hear of your experience, especially with the seller's behaviour! I've not found a way to upload the video to the seller, so I took screen captured of it (which show that the screen captures are from when I'm playing the video to myself on the phone). Still hoping for the coin... if not, I'll be happy to get a refund. As they have 100% positive feedback, hopefully they'll wish to preserve it and act appropriately. As yet, no news but its only been a couple of hours to be fair.

Thank you for your reassurance!

[paulmerton]

22 minutes ago, Esjayc said:

I'm sorry to hear of your experience, especially with the seller's behaviour! I've not found a way to upload the video to the seller, so I took screen captured of it (which show that the screen captures are from when I'm playing the video to myself on the phone). Still hoping for the coin... if not, I'll be happy to get a refund. As they have 100% positive feedback, hopefully they'll wish to preserve it and act appropriately. As yet, no news but its only been a couple of hours to be fair.

Thank you for your reassurance!

Getting a refund from eBay was practically automatic in the end, without needing a video, so I had no worries on that front. The only concerns I had that warranted police involvement were the things the seller subsequently said and did.

I also would have preferred to get the coin I'd actually ordered (they sent me a 2015 instead of a 2005) but in their mind they'd sent me the right one so that was far from being an option.

[Esjayc]

14 minutes ago, paulmerton said:

Getting a refund from eBay was practically automatic in the end, without needing a video, so I had no worries on that front. The only concerns I had that warranted police involvement were the things the seller subsequently said and did.

I also would have preferred to get the coin I'd actually ordered (they sent me a 2015 instead of a 2005) but in their mind they'd sent me the right one so that was far from being an option.

I'm glad you got resolution in the end. I find it hard to comprehend why people throw their toys out of the pram and get nasty, especially when they get caught out, or even when a possibly genuine mistake may have been made. I've noticed there's an eBay option to have things sent to my local Argos store for me to collect, rather than have it delivered to my address, so they don't know my address (to safeguard against anyone turning nasty and knowing my address). But I guess the seller may be able to get my address from Paypal payments / eBay anyway. 

Thank you again for your reassurances, and sharing your experience. Sorry to hear what happened to you!

[AaaGee]

Just buy from here or the dealers.

I bought a (non) silver coin off ebay a couple of years ago. Not been back since.

[Esjayc]

11 minutes ago, AaaGee said:

Just buy from here or the dealers.

I bought a (non) silver coin off ebay a couple of years ago. Not been back since.

Normally I go for 'best value' from the dealers, but heard great things about The Silver Forum - as I'm new, once I've got more of a feel for it, I shall look to buy from here. I've seen that people can put 'wanted' ads up. Not sure exactly how the buying works, but happy to give it a shot. 

I guess this time around, this 1910 S half sovereign was too good to be true.

[Esjayc]

I did get a response from the seller... and so I have initiated (through eBay) the free return. Videoed myself holding the coin, then repacking and sealing it, affixing the return label.

[paulmerton]

1 hour ago, Esjayc said:

I did get a response from the seller... and so I have initiated (through eBay) the free return. Videoed myself holding the coin, then repacking and sealing it, affixing the return label.

Well that's very promising then! I wish my instance had gone like that 🤣

I actually filmed the entire process of my return, including packaging, travelling, and handing it over to the post office in a single take, so there could be no dispute that I had returned the item I received.

[cjbcomm]

2 hours ago, AaaGee said:

Just buy from here or the dealers.

I bought a (non) silver coin off ebay a couple of years ago. Not been back since.

100% this. Some proper rubbish on ebay and genuine stuff is from sellers with very high reputations of the values!

[Sovhead]

1 hour ago, paulmerton said:

Well that's very promising then! I wish my instance had gone like that 🤣

I actually filmed the entire process of my return, including packaging, travelling, and handing it over to the post office in a single take, so there could be no dispute that I had returned the item I received.

That’s a bit anorakish…..

Reported.

[Pete]

As soon as you inform eBay that an item is not as described, eBay almost automatically takes the side of the buyer.
Fortunate in your case but if you are the seller and shipping the correct items etc. it can be a frustrating and stressful experience.

Judging by your seller's apology it suggests a library or downloaded photo was used which is naughty as you want to see exactly what you are purchasing, not a representative sample. This is especially true with coins as you want to see condition.

[paulmerton]

1 hour ago, Sovhead said:

That’s a bit anorakish…..

Reported.

Yes, thanks for mocking what was actually a quite frightening experience.

[HonestMoneyGoldSilver]

4 hours ago, Esjayc said:

Normally I go for 'best value' from the dealers, but heard great things about The Silver Forum - as I'm new, once I've got more of a feel for it, I shall look to buy from here. I've seen that people can put 'wanted' ads up. Not sure exactly how the buying works, but happy to give it a shot. 

I guess this time around, this 1910 S half sovereign was too good to be true.

Watch the buy & sell for a while, get a feel for the prices. Read the feedback of sellers. There are some great sellers on TSF especially for sovereigns. There are a bunch of coin nerds, businesses, collectors and stackers who know more about precious metals than is healthy

I joined intending not to buy anything, hung out for a month, then got jealous of seeing all the bargains. Since then I've bought more than once a week for a year - asset rich and cash poor is what they call it 🤷‍♂️. Turned out to be an unintentional masterstroke as the value of GBP has been heavily eroded while gold and silver have done OK

By all means put up a 'Wanted' ad. If you keep an eye on the buy/sell it's likely you'll see what you want come up for sale - plus many items you didn't know you wanted but now you do 😁

[Esjayc]

1 hour ago, HonestMoneyGoldSilver said:

Watch the buy & sell for a while, get a feel for the prices. Read the feedback of sellers. There are some great sellers on TSF especially for sovereigns. There are a bunch of coin nerds, businesses, collectors and stackers who know more about precious metals than is healthy

I joined intending not to buy anything, hung out for a month, then got jealous of seeing all the bargains. Since then I've bought more than once a week for a year - asset rich and cash poor is what they call it 🤷‍♂️. Turned out to be an unintentional masterstroke as the value of GBP has been heavily eroded while gold and silver have done OK

By all means put up a 'Wanted' ad. If you keep an eye on the buy/sell it's likely you'll see what you want come up for sale - plus many items you didn't know you wanted but now you do 😁

Thank you so much for this! If I am interested in a coin someone is advertising on here, is it simply a case of send them a PM / comment on the post? How does the transaction / payment work with a seller via The Silver Forum? Sorry if this is a really daft question from a newbie 🤣. Any advice you may be able to give me will be greatly appreciated. Thanks again for your advice so far 😀

[HonestMoneyGoldSilver]

1 hour ago, Esjayc said:

Thank you so much for this! If I am interested in a coin someone is advertising on here, is it simply a case of send them a PM / comment on the post? How does the transaction / payment work with a seller via The Silver Forum? Sorry if this is a really daft question from a newbie 🤣. Any advice you may be able to give me will be greatly appreciated. Thanks again for your advice so far 😀

To secure the item you can either comment in the thread or send a PM

When making payment you do so via PM. Mostly it's via bank transfer but some sellers will give you the option of PayPal and occasionally cryptocurrency

[AaaGee]

1 hour ago, Esjayc said:

Thank you so much for this! If I am interested in a coin someone is advertising on here, is it simply a case of send them a PM / comment on the post? How does the transaction / payment work with a seller via The Silver Forum? Sorry if this is a really daft question from a newbie 🤣. Any advice you may be able to give me will be greatly appreciated. Thanks again for your advice so far 😀

Just a tip. 

Look at the for sale threads and you can see how initial contact is made.

Then payment etc is done by private message.

Youll be fine.

Im useless with any tech. I decided to set up online banking when i joined here. Even that was a ballache. Got there in the end.

Once you make your 1st purchase you'll be flying 👍

 

[James32]

6 minutes ago, AaaGee said:

Once you make your 1st purchase you'll be flying 👍

Not unless it's an aeroplane or helicopter. 

[AaaGee]

22 minutes ago, James32 said:

Not unless it's an aeroplane or helicopter. 

Sorry, not flying. Permanently skint 😆.

[Esjayc]

Thanks folks, I appreciate this 😁