Advice sought - how to safely purchase from unknown individual

BSqr

Please allow me to mooch some wisdom from you folks.

I have located some reasonably priced coins on the internet that I'd like to purchase. I found the coins on an individual's personal website. The contact person said the coins are available if I want them but I am a little wary. I've only ever bought coins from dealers, shops, eBay and the like. The person selling the coins is apparently a member of ANA but I'm not sure that means much. As expected, the seller desires payment up front so I'm seeking advice on what steps I can take to help minimize the risk of getting duped. I'd love to hear from anyone one this issue. Thanks in advance.

coinguy1

BSqr - I'd recommend that you ask the seller for some numismatic references that you can verify. A reasonable, legitimate seller should have no problems with such a request.

Also, I see nothing wrong in disclosing his name here, to see if any forum members are familiar with him.

flaminio

<< <i>Also, I see nothing wrong in disclosing his name here, to see if any forum members are familiar with him. >>



Well, unless the guy's working on a deal, and doesn't want others to snatch it from him .

I've generally had good luck dealing with individuals. Just trust your instincts -- if it feels shady, walk away. If he seems genuinely honest in his emails and website, you're probably OK. Try to pay with a credit card -- you're pretty well protected that way. If it's a really high value, see if you can arrange an escrow for it. Getting references is a good idea, if he's willing to disclose that. (There are perfectly legitimate reasons not to, so if he doesn't, I wouldn't count it against him.)

And if you want to, disclose who it is. You may get people saying "Oh yeah, you can trust him" or others saying "NO WAY! That dude's a ripper!". If the guy's honest, he won't mind his name being mentioned to a few thousand dedicated coin collectors.

BSqr

The seller doesn't appear to take credit cards only money orders & cashier/personal checks. I think I will ask for some references.

Thanks for the responses.

1jester

Have you had any other contacts with him besides just stumbling on his website?

I've had a lot of success, in fact, only good experiences with buying from people here. But I've learned to "get to know them" prior to doing any business. I've paid up front, in cash, without any trouble of any kind.

BSqr

Have you had any other contacts with him besides just stumbling on his website?

No sir.

1jester

Tough call then. Perhaps you'd like to try a sample purchase (or a few), and build on that relationship?

Wolf359

Use www.escrow.com for the transaction. The seller won't get the money until you verified the goods are ok. Be willing to pay the modest fee (a couple %).

If the seller balks....you know something.

airplanenut

<< <i>The seller doesn't appear to take credit cards only money orders & cashier/personal checks. I think I will ask for some references. >>

I don't take credit cards... I don't want to pay the fee... that shouldn't itself be a flag...

Louis

If you decide to buy from him, I would start out with a couple inexpensive purchases to "check him out".

BSqr

I don't take credit cards... I don't want to pay the fee... that shouldn't itself be a flag...

It is not a flag for me.

RNCHSN

I agree with the reference request, and the idea of trying a few small purchases before sending any REAL money to him. I also suggest just posting his name to see if we know of this guy.

roadrunner

solid numismatic references should be enough like Mark said. Under no circumstances would I send anyone cash without some type of proof of their stability (like ebay feedback rating, etc.). Unless you are talking about the deal of the century, you can take your time with this seller and start small. If you can supply ironclad numismatic references going back 10 years or more, you might find a seller willing to ship once a check is in hand.

roadrunner

Bear

Im still waiting for Coinguy to send me his references.