Homepage / Auctions & Wire Transfers: Bullion Auctions

The Good, The Bad, and Some Tips
about

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, below the following paragraphs about some of the things you should know about bullion auctions is a list of the other overlooked auction sites.

Using an Auction site to purchase bullion takes a lot of discipline and patience, and buying bullion at the right price on an online auction will definitely test your skills in these two departments.

You want to set a price for yourself 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.

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How to Find Sellers
You Can Trust

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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:

• 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."

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BGASC - Customer Reviews link
Affiliate Ad

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FAKE BULLION  & COUNTERFEIT ALERTS

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Every day the news on the homepage is updated (except some Saturdays) and every day the internet searched for articles about Fake and Counterfeit Bullion.  

When articles are found about Fake or Counterfeit bullion bars and coins they are posted with the Header: 'FAKE BULLION ALERT' or 'COUNTERFEIT ALERT'

Here are some examples of the Guide's Alerts for Fake or Counterfeit bullion related items.

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

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.

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Fake Coins

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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,

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Fake Morgan Dollars

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

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!

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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. 

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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!

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FAKE PANDA

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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

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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. Chinese Gold Panda Chinese Silver Panda

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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"

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Finding Deals on Bullion Auctions

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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.

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"Buy It Now"

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"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.

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How to find the Average selling price of Any Auction on eBay

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You know what you want and you know the spot price of the precious metal coin you are looking for, so now it's time to see if you should use your time looking on a Bullion Auction site for a deal or find a reputable and trusted Bullion Dealer who sells the coin you want.

The way to find the average selling price on eBay is by using a tool that is quite useful.

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

After you have entered the coin's name, size, and year, 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 choose to refine your search,  these options include; Category, Condition, Price, Format, Item Location, Delivery Options, and Show Only.

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

If you choose the "Completed Listings" option under the "Show Only" category, the next screen will show you the item you searched, if it sold or not and its ending price. 

Basically, it will give you an idea of what others were willing to pay for the item or not, which ever the case may be.  This tool is also handy for finding out the value of an item on the secondary market.

Furthermore, you can refine your search by taking a look back up at the top of the search screen, under the search bar, and look for the option titled "Sort" and select "End Date: recent first,"  this will give you an idea of the average selling price for the bullion item you are looking for on eBay.

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 over bid, and take note of when the auction will end and put it in your watch-list.

When the auction comes close to an end and if the price has not gone over its average selling price, you may want to bid on the item if the seller has good feedback. (the choice is yours)

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!

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Listing of Coin/Bullion Auctions
Websites

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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.

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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SD Bullion - Customer Reviews link Affiliate Ad

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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

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