The major online silver bullion dealers all have eBay Stores as well. Silver deals can be found on eBay from trusted and reputable sellers. Most of the time the prices offered by the major dealers on eBay are comparable to the credit card prices for the same items listed on their websites. When combined with special offers such as eBay Bucks or periodic eBay 10-15% discount coupons it is possible to get great deals on silver bullion below spot price.
The best deals for buying silver on eBay come at times when eBay is offering a promotion. Periodically throughout each financial quarter, eBay runs promotions involving their eBay Bucks program which increase the eBay Bucks earning to as much as 10% on qualified purchases. At other times, eBay may offer a one-time use discount coupon that could be as much as 10% or 15% of a single purchase.
Buying Silver on eBay During Promotional Periods
Buying silver on eBay during promotional periods is almost like getting a 10% discount on silver bullion. eBay Bucks is a rewards program that acts similar to the way cash-back credit card programs work. Normally, eBay Bucks earns a 1% reward on qualified purchases.
When eBay runs an eBay Bucks promotion the increase in the cash-back reward can be as high as 10%. The cash-back rewards accumulate through each financial quarter and become eligible and must be spent during the first month of the subsequent financial quarter.
When shopping for silver and gold bullion on eBay the prices and premiums often seem unrealistically high, even from trusted and reputable dealers. This is partly due to the fees eBay charges sellers for listings. As well, PayPal fees are typically incorporated into the cost as well. Combined, these fees can make the cost of some products up to 10% to 15% higher than they seem on bullion dealer websites.
However, not all silver bullion purchases will be eligible for earning eBay Bucks or for purchasing with a discount coupon. Items that are specifically or cross-listed in “Bullion” categories are automatically ineligible. Just as gift cards are typically ineligible as well. This is due to a combination of anti-money laundering laws relating to untraceable cash equivalents as well as specific eBay Policies regarding discounts of items in certain categories where sellers are often provided with discounted fees.
Comparing eBay Prices to Those Found on Dealer’s Websites
When comparing prices on eBay for Silver and Gold bullion it’s important to make sure that you’re comparing it to the Credit Card/PayPal price that is listed on the dealer’s websites. This is the closest comparable price.
In addition to the normal fees that PayPal and other credit card processors charge the dealers, eBay tacks on as much as 10% or so in additional fees for each item sold through it’s platform. In some cases, each dealer has a negotiated contract which provides them with lower fees because of the large volume of purchases.
In some cases, the dealers will absorb the extra fee and in some cases it is passed on to the customer with a slightly higher premium than the dealer would charge on their own website.
Typically, dealers like APMEX, Bullion Exchanges, Liberty Coin and BOLD Precious Metals will sell silver bullion on eBay that is eligible for eBay Bucks and other promotions. Dealer’s are aware of when the promotions are running and will often adjust their pricing on eBay accordingly knowing that savvy buyers are looking for a good deal.
During the promotion periods it’s common to find both foreign silver coins and Pre-1933 US Gold coins available for close to or below spot price when factoring in the promotional discount or earned eBay Bucks.