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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.
There are three types of online actions:
At the bottom of this page you'll find a list of links to bullion auctions under these three categories.
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.
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.
These auctions are do not allow outside sellers to participate by selling their products on the online platform.
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.
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:
A good rule of thumb for any investment is that "if you don't trust the seller, don't buy from them."
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.
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,
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.
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 Best Way to Shop for
|
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"
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," 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.
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.
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.
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
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
For Bullion Market News...
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