Friday, May 27, 2011

Buy Silver Coins on eBay

eBay can be an excellent source of silver coins and they are easy to buy, but there are some important points to keep in mind if you want to buy silver coins on eBay.

First it is a good idea to have an idea of the type of silver coins you want. Is it silver eagles, Silver maple leafs, Silver coins from China or Australia or just the simpler silver rounds (usually the best)? Silver rounds are almost always one ounce silver coins of .999 percent silver content.

Having made that decision you then filter out all other types of silver coins and concentrate on the ones you are after.

Your next job is to check the sellers. Look for dealers or sellers who have a history of selling silver online. Check their feedback and ratings. Also check they are a dealer with a valid address. Valid dealers will be quick to assure you with details of whom and what they are also where they are located. It is worth while doing due diligence on the sellers before you even bid. Sometimes just asking the seller questions can give you an indication of their authenticity. How quick are they to answer? How much information do they supply?

Some useful pointers for bidding for silver coins on eBay auctions include:

Try to shop during the week and not on the weekend. Pick auctions that end during the week and preferable in the early hours of the morning. There is less competition then and your chances of getting a good deal are enhanced.

Make your bids close to the end of the auction. Not several days in advance. You will not win many of them and will end up making more bids to stay in front.

When you are looking at the cost, and especially if you have a budget, ensure you include associated costs such as possible state taxes and shipping costs. Plan your budget on the total or overall cost not just the cost of the silver coins themselves.

Finally, do not get carried away with the bidding. If the price oversteps your budget, let it go. There are plenty more fish, or in this case silver coins, in the sea. Sometimes patience can be very profitable.

With the above pointers in mind you can satisfactorily buy silver coins on eBay for a good price.

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