What makes bullion people such cheapos?
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Seems they value bullion way more than regular people value other things.

I bought 2 Pamp Suise 1 gram bars on ebay. They were listed at 50$ or make an offer. I bid $47 on 2 and the seller accepted. Gold went up like $40/oz which is like a freakin dollar per gram and the guy cancelled the sale??

Is a matter of $5 really worth a neg on ebay to these people?

He had over 10 available before and after this happened and still has them listed.

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Seems they value bullion way more than regular people value other things.

I bought 2 Pamp Suise 1 gram bars on ebay. They were listed at 50$ or make an offer. I bid $47 on 2 and the seller accepted. Gold went up like $40/oz which is like a freakin dollar per gram and the guy cancelled the sale?? Is a matter of $5 really worth a neg on ebay to these people?He had over 10 available before and after this happened and still has them listed.

Give him a bad review. Bid again and if gold falls, walk away !

 

As George Costanza once said, "that way, everything is even." :grin:

 

2:55 mark if you want to get right to George:

 

Edited by GoldFinger1969

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" What makes some people such cheapos?"

 

Fixed, as "bullion" people are probably no different from others.

 

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Yeah, to cancel your purchase while still holding inventory he's willing to sell is just bad business. If allowed to do that he's risking nothing, determined to win every time. Bullion sellers have E-Bay protections beyond numismatic coin sales.

 

This should be reported.

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He'll automatically have some restrictions on his account; but there is no excuse for sellers not honoring their listing prices unless there is a major glitch or error. A tiny loss for him anyway in the greater scheme of things.

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I was able to neg the transaction but Ebay didn't even send a cancellation request to me.

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" What makes some people such cheapos?"

 

Fixed, as "bullion" people are probably no different from others.

 

Ha ha!

 

I had a fellow want to cancel a purchase because he noticed, after he bid and won, that I collect Sales Tax here in California.

 

It amounted to $1.27. He didn't want to pay the "sales tax" even thoiugh he lives in California and pays sales tax on everything he buys in state anyway.

 

What he DID want to do, was have me "invoice" his buddy who lives in Arizona for the listing that he had won. (I obviously can't collect CA Sales Tax for a sale in Arizona.) That buddy would then pay for the coin then package it up and mail it to him (the original buyer) in California.

 

I agreed to cancel the listing but not to sell it to his buddy since I had no clue on how I could "invoice" someone for a listing he hadn't even bid on and explained that his buddy would pay the exact same shipping charges I levied ($3.00 - Postage - envelope) and then would pay the exact same shipping charges by mailing it out to California. I then asked the buyer if he really believed that his buddy would cough up $6.00 so that he could avoid paying $1.27 in Sales Tax?

 

The buyer thought about it and agreed to just pay for the item and then leaving me a positive feedback.

 

Sometimes, people just do not think about what they are doing..........all in the name of saving a buck!

 

Drive 10 miles out of your way to save 3 cents on a gallon of gas? A 16 gallon tank amounts to a .48 cent savings.

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Drive 10 miles out of your way to save 3 cents on a gallon of gas? A 16 gallon tank amounts to a .48 cent savings.

And if you get 20 miles to the gallon you burn a gallon of gas to "save" that 48 cents. (I've seen people do it though.)

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They are smart buyers and they shop around. To be a Cheapo in buying coins is not a bad idea....beats over paying. Bottom line: they know they can acquire certain coins for BV + a certain dollar amount based on bidding / buying experience and will not pay over that.

 

Bullion buyers usually are trying to achieve a certain goal like 100 oz of silver or gold. They are not trying to fill holes in albums or registry sets nor caught up in the holder / sticker game.

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They are smart buyers and they shop around. To be a Cheapo in buying coins is not a bad idea....beats over paying.

 

Bullion buyers usually are trying to achieve a certain goal like 100 oz of silver or gold. They are not trying to fill holes in albums or registry sets nor caught up in the holder / sticker game.

 

The original poster was complaining about sellers, not buyers, in this case.

 

But on the subject of buyers - being "a cheapo" can lead to a lack of opportunity from sellers who don't want to bother with you. Or in the case of non-billion coins, it usually leads to the acquisition of sub-par material.

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Drive 10 miles out of your way to save 3 cents on a gallon of gas? A 16 gallon tank amounts to a .48 cent savings.

And if you get 20 miles to the gallon you burn a gallon of gas to "save" that 48 cents. (I've seen people do it though.)

 

At 7Mpg I basically get to pick between corners. Sometimes I can make out to the tune of 1c per gallon.

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Some folks confuse being "cheap" with being a "smart buyer."

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The mark-ups in the bullion industry are tiny. The only way to make it is to sell large volumes of material.

 

It was wrong for the seller to have canceled that sale, but here's a question for the buyer. If the price of bullion had gone down, would you have completed your end of the contract without fail?

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There is a well known vest pocket guy who goes to most of the shows sniffing out deals with less knowledgeable dealers. Recently I heard he was at a show where a dealer did not know what he was doing on pricing, or he already has a six figure income and wanted to do cash deals so he could avoid reporting requirements. He sells for less than if he had to ship to Apmex, etc. which I advised him.

 

If I were doing much with bullion I would state up front with the local people what my margin was and due to the risk of downside I could not pay more or sell for less. It is very hard to compete with those who already have a low risk system in place.

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The mark-ups in the bullion industry are tiny. The only way to make it is to sell large volumes of material.

 

It was wrong for the seller to have canceled that sale, but here's a question for the buyer. If the price of bullion had gone down, would you have completed your end of the contract without fail?

 

Yes, because 2 grams of gold is not my idea of investing in gold. I was buying these as a collector. The premium on this is already something like 20% over spot

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el

The mark-ups in the bullion industry are tiny. The only way to make it is to sell large volumes of material.

 

It was wrong for the seller to have canceled that sale, but here's a question for the buyer. If the price of bullion had gone down, would you have completed your end of the contract without fail?

 

Yes, because 2 grams of gold is not my idea of investing in gold. I was buying these as a collector. The premium on this is already something like 20% over spot

 

To elaborate further on this, I was also a seller of six 1 gram bars at the same exact time. And I didn't care to adjust my asking price when the recent surge in spot rose a bit because I was just looking to replace some extras of Perth mint units I had with some Pamp ones. The surge happened and closed the gap on the premium and all of mine sold and I held my end of the deal as a seller.

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I'd call 1 gram of gold more of a "sliver" than a "bar."

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