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Bullion Auctions



When people hear of bullion auctions, eBay.com is often the first website that comes to mind; however, there are many other auction sites available on the web where you can find precious metals bullion.

online auction

Three types of Online Auctions Sites

There are three types of online actions:

  • Non-consignment auctions
  • Consignment auctions
  • Government or Private Entity exclusive auctions

At the bottom of this page you'll find a list of links to bullion auctions under these three categories.

Online Non-consignment Auctions

Ebay is a non-consignment auction, where sellers possess the item they sell, it is up to them how the items are described and photographed, and they ship the items to the winning bidder.

Online Consignment Auctions

A lot of bullion and numismatic auctions are consignment auctions.  Items sold on a consignment auction have been authenticated.  Sellers who sell on consignment auction platforms send the items to the owner of the auction for authentication.  A contract is agreed upon between the seller and auction platform on how much each party will receive when the item sells, and the auction platform keeps the item in their inventory until the item sells.  When the item sells they ship the product. 

Government / Private Entity
Exclusive Auctions

These auctions are do not allow outside sellers to participate by selling their products on the online platform.

Testing your patience and discipline

Auctions will always test your skills in discipline and patience. You need to decide how much you're willing to pay for the item before you bid on it.

Once you've decided to bid on an item, you want to set a price on the item you want to buy, if it goes over, let it go, and stick to your price, there will always be another item available.

If you let yourself go over your set investment price, you will likely regret it.




How to Find Sellers
You Can Trust



Consignment - Your trust in the seller completely depends on your trust in the company that owns the auction platform because they are the ones who have authenticated the items, have them in their inventory, and will be the ones shipping it out to you.

Government or Private Entity/Business - The same is true for these auction platforms.  Your trust in the seller is completely dependent on your trust in the company providing the auction.

Non-Consignment - The following paragraphs were written for this type of auction because just like the previous two types of auction platforms you need to have trust in the seller, and this section will give you some hints in what to look for in a good seller.

Bullion auctions have received a bad rap from the sellers who sell fake bullion.  Unfortunately, sometimes, sellers try to trick buyers into thinking they're buying the real thing when they are not.

Characteristics of Trusted Sellers:

handshake
  • Good sellers will be completely honest on their listings; they should have a complete description of the item on the page. And if there are flaws in the item it should be listed on the page.
  • If you have a question for them they should respond to you quickly, but you may have to wait up to 24 hours for a response.
  • All their shipping information should be clearly defined with the shipping charges listed with the item (international charges excluded).
  • Good Sellers don't overcharge for shipping or offer free shipping.
  • Avoid sellers who try to set a higher shipping price to try to make more off the sale.  (These sellers are only hurting themselves in the process)
  • Good Sellers have Good 'Feedback' - Always Read a Seller's Feedback 
  • Beware of the seller's location!  For the last several years there has been an influx of sellers from China & Hong Kong on auction sites. Also, be aware of the fact that shipping times will take much longer when items come from these sellers.

A good rule of thumb for any investment is that "if you don't trust the seller, don't buy from them."





FAKE BULLION  & COUNTERFEIT ALERTS



FAKE BULLION ALERT : VIDEO : KVRR (North Dakota) - Which One is Real? Counterfeit Gold Coins On The Rise

COUNTERFEIT ALERT : CoinWorld - Stickers, Barcodes and Counterfeit Holders

FAKE BULLION ALERT : CoinWorld - Counterfeiters Target 1-ounce Gold PAMP Bars, Packaging

fake

If you want to find past articles about Fake or Counterfeit bullion, you can go to the news archives page, of this guide, and use the 'Find' option on your Internet Browser, type 'Fake or Counterfeit' in the search bar to find all the news reported about Fake bullion bars and coins that were posted in the last year.  (You can also search this Guide's Quarterly News pages using the same practice)

Lastly, in case if you are wondering...

"What does this have to do with Auctions?" 

Sadly, a lot of these coins/bullion find their way onto auction sites, and as you will see in the videos below, and many get duped into buying these items.

Note: the Counterfeit Alert is new as of May 2016, however, the guide has posted news about fake and counterfeit bullion for several years.





Fake Coins



The two coins that are most publicized as being sold as counterfeits or fakes are the U.S. Silver Morgan Dollars and the Chinese Gold and Silver Panda bullion coins,




Fake Morgan Dollars



The coin image below is of a Real Morgan Silver Dollar, you can find specific information about the coin here.

morgan dollarReal Morgan Silver Dollar

The best way to help you with identifying fake Morgan silver dollars is to let you see what other individuals have encountered. 

Below, you will find videos made by people who've purchased these fake Morgan dollars; they've learned from their mistakes and are now showing others how to they can recognize these coins to try to help them from making the same mistake they did.

Morgan Silver Dollar Fake!






Fake Chinese Panda Bullion Coins

The guide has several pages devoted to the Chinese gold and silver panda bullion coins to help you with being more familiar with them and their features.

The more you know about these coins the easier it will be for you to recognize a fake panda from a real one.

You will find links to these coins when you scroll down the Guide's page titled: Chinese Bullion. 








Chinese Panda Bullion Coins are one of the most counterfeited coins on the secondary markets.

The guide below created by "PandaCollector.com shows you how you can recognize a Fake Chinese Panda from a Real one.

Guide to Detecting Counterfeit Chinese Panda Coins

In addition, below, you will find videos made by people who've purchased Fake Panda bullion coins; they've learned from their mistakes and are now showing others how to they can recognize these coins to try to help them from making the same mistake they did.



The fake 2016 30 gram Pandas are here!





FAKE PANDA





Counterfeit Chinese Panda compared to real coin. Part 1, inspecting the coin


Counterfeit Chinese Panda compared to real coin. Part 2 ,cutting the coin in half




The Best Way to Shop for
Real Chinese Panda
Bullion Coins

Visit this guide's pages on Chinese Gold or Silver Pandas to find Our Reputable Affiliated dealers who offer these coins, at competitive prices.





A Few More Tips to Help You Find
Other Fake and Counterfeit Coins


Recently, this article from SilverCoins.com was found, it's titled:, Fake Silver Coins : 12 ways to Spot Counterfeits.

Or

You Can take a look at this Tool that can be used to Find Counterfeit American Eagle Silver Bullion Coins: BullionCoinCheck.com

Or

Check out this tool that can be used to test the Authenticity of numerous 1 oz. Gold Bullion coins: GoldCoinBalance.com

and

Lastly, you can 'Click' the link below to learn from anyone of these YouTube Videos about:

"How to Detect Fake Silver or Gold Bullion Bars"






Finding Deals on Bullion Auctions



One tactic that you can use to help you find a good deal on an auction site is to bid on bullion auctions that end on Friday or Saturday nights; this is when web traffic is at its lowest levels.

Another tactic is to find bullion auctions that are ending in off hours, for instance, auctions that end in the middle of the working day or bullion auctions that end after midnight or before 5am.

Keep Reading because the next two sections will help you learn how to hone in on Bullion Auction Deals.




"Buy It Now"



tip

"Buy It Now," if you decide to use this tactic (that I have used) I won't lie to you, finding a deal is very hard, but it also can be very rewarding.

The key to using the "Buy It Now" option is to first click "Buy It Now" tab near the top of the page, under the search bar.

This will isolate all the Buy It Now bullion items.  Once you have isolated the "Buy it Now" items,  then use the "Sort by" option and select the "recently listed items."

Some sellers will offer their items lower than the average price because these sellers do not know the true value of the coins they're selling. 

These deals are few and far between when using this tactic, it often works better on collectible coins than on bullion coins.

However, on occasion, you will find some pretty decent deals on bullion using this tactic.




How to find the Average selling price of Any eBay Auction



2016 silver eagle

EBay is the largest non-consignment auction site, and because of this, it is likely the best source available to find out what the market will pay on virtually anything.

EBay offers a tool that helps users determine the average selling price of any item they search for, providing insight into the market's current price for the item they wish to buy or sell.

The first thing to do is to go to www.eBay.com and enter in the search bar the name of the item you want; in this case, we'll pick the 2016 American Eagle Silver bullion coin.

After you've entered the coin's year, size, and name, click the search button; this will bring up all the coins that are now available for Auction and Buy it Now.

On the left side of the page, there is a list of options to help you refine your search, they include: Category, Certification, Grade, Strike Type, Year, Coin, Precious Metals Content per unit, Brand/Mint, Fineness, Condition, Price, Format, Item Location, Delivery Options, and Show Only.

The option you want is under the "Show Only" option.

Choose the "Completed Listings" option under the "Show Only" category, and the next screen will show you the item you searched for, whether it sold or not; sold items will have green prices, and unsold items will have black prices. 

The results will give you an idea of what others are willing to pay for the item you looked up; coin appraisers in the numismatic industry are known for using this helpful tool.

If you are looking to buy the item you searched for on eBay and have an eBay account, the following may help you.

Once you have an idea of the average selling price for the item you want, the next thing to do is to look for current items up for auction that have not been bid over the price you are willing to pay, and take note of when the auction will end and put it in your eBay watch-list.

sort - recent first

When the auction comes close to an end and if the price has not gone over the price you are willing to pay for it, you may want to bid on the item if the seller has good feedback.

There are many other ways one can use the "Completed Listings" option on eBay that can enhance your buying opportunities, it is up to you as to how you want to use them... Good Luck!

Note: The option under "Completed Listings" which is "Sold Only" is another helpful tool that refines the completed listings to show only those items that have sold, but it won't show you what others have tried to get for the item and were unsuccessful like the Completed listings option does.  Both tools are very helpful if you choose to use them.




Listing of Numismatic & Bullion Online Auctions



eBay.com
The Largest Online Auction site

Barnebys.com
Barnebys is the leading search engine for art, antiques and collectibles from more than 2,000 auction houses around the world.


eBid.com - Buying and Selling Online Since 1999
Buy and Sell domestic and Internationally in over 100 countries through the eBid Marketplace - buyers and sellers from individuals to larger companies. With over 4 millions listings, millions of users and 14,000 categories eBid offers a worldwide platform for buying and selling in any country and 9 languages. Always list your items for free and pay between 0% and 5% when your items sells.


Great Collections.com
Auctions and offers Direct Sales of Graded Bullion Coins, Numismatic and Rare Coins.


icollector.com
Estate Auctions, Bullion auctions and Numismatic coin auctions


Online Auction.com
Bullion auctions and Numismatic coin auctions


Webstore.com Bullion Auctions, Numismatic Coin Auctions and other auctions.


Seized Property Auctions.com
is the premier auction company for liquidating property seized by police and federal agencies, property from abandoned safe deposit boxes, seized bank assets, bankruptcies, financial institutions, business inventory liquidations, and other consigners.


The Property Room.com
online Police auctions & more


Heritage Auctions
World's Largest Collectables Auctioneer, includes mostly numismatic coins and some bullion coins.


LiveAuctioneers.com
Give participants the opportunity to auctions of sized and foreclosure auctions of all types.


delcampe.net
European coin auction site of coins from around the world. Coins are priced in Euros.


BlueJay.com
100% free online marketplace



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Liquidation.com Wholesale and Surplus Bulk auctions of items where precious metals can be salvaged.


GovDeals.com
Bulk scrap metal and other auctions from USA, State and Federal surplus




Bullion Auctions



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