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As a seller, would you accept any returns on bullion items?

gecko109gecko109 Posts: 8,231 ✭
in Precious Metals
Hypothetical question, I have no skin in the game at all. Just wondering, for those of you who sell excessive amounts of bullion through internet channels, do you have a no return policy?

Comments

  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    No ... I have never & never will accept returns on any bullion product. It is wise to indicate that in bold letters of part of the auction.
    I do accept returns though on Art Bars, but not common bullion bars.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • PerryHallPerryHall Posts: 46,113 ✭✭✭✭✭
    OPA---Would you take a return if the bullion item had increased in value?image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    "No return on gold or silver items due to market volitility. If you don't receive exactly what is described, please contact me immediately and I will correct the problem to your complete satisfaction."

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • GRANDAMGRANDAM Posts: 8,507 ✭✭✭✭✭
    I have often wondered about this as well?

    Anyone have any experience as to how this would play out with PayPal if a SNAD claim was filed?

    I would ASS/U/ME the seller would lose as we all know that PayPal only LOVES image the buyer image

    GrandAm image
    GrandAm :)
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>OPA---Would you take a return if the bullion item had increased in value?image >>



    Unrealistic question. Not gonna happen.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>I have often wondered about this as well?

    Anyone have any experience as to how this would play out with PayPal if a SNAD claim was filed?

    I would ASS/U/ME the seller would lose as we all know that PayPal only LOVES image the buyer image

    GrandAm image >>



    Happened to me & other forum members...On bullion, the buyer does not stand a chance of winning a SNAD if the Seller followed eBay & PayPal guidelines and the description is accurate. (ie 1 oz .999 silver or 1 oz .925 Sterling Silver etc)
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>I have often wondered about this as well?

    Anyone have any experience as to how this would play out with PayPal if a SNAD claim was filed?

    I would ASS/U/ME the seller would lose as we all know that PayPal only LOVES image the buyer image

    GrandAm image >>



    Happened to me & other forum members...On bullion, the buyer does not stand a chance of winning a SNAD if the Seller followed eBay & PayPal guidelines and the description is accurate. (ie 1 oz .999 silver or 1 oz .925 Sterling Silver etc) >>






    Im not so sure about this. Lets suppose the buyer claims there is a small scratch on the gold bar you sold him last week (with gold down $60 today). He tells paypal that the photos did not show the scratch and that he wants a refund. I tend to think the seller will lose in this scenario, unfortunately.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>I have often wondered about this as well?

    Anyone have any experience as to how this would play out with PayPal if a SNAD claim was filed?

    I would ASS/U/ME the seller would lose as we all know that PayPal only LOVES image the buyer image

    GrandAm image >>



    Happened to me & other forum members...On bullion, the buyer does not stand a chance of winning a SNAD if the Seller followed eBay & PayPal guidelines and the description is accurate. (ie 1 oz .999 silver or 1 oz .925 Sterling Silver etc) >>






    Im not so sure about this. Lets suppose the buyer claims there is a small scratch on the gold bar you sold him last week (with gold down $60 today). He tells paypal that the photos did not show the scratch and that he wants a refund. I tend to think the seller will lose in this scenario, unfortunately. >>



    You are not selling numismatic items, as such a "scratch" as quoted in your scenario, will have no impact on the value of the bullion bar or round as long it maintains it's weight.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>

    << <i>

    << <i>I have often wondered about this as well?

    Anyone have any experience as to how this would play out with PayPal if a SNAD claim was filed?

    I would ASS/U/ME the seller would lose as we all know that PayPal only LOVES image the buyer image

    GrandAm image >>



    Happened to me & other forum members...On bullion, the buyer does not stand a chance of winning a SNAD if the Seller followed eBay & PayPal guidelines and the description is accurate. (ie 1 oz .999 silver or 1 oz .925 Sterling Silver etc) >>






    Im not so sure about this. Lets suppose the buyer claims there is a small scratch on the gold bar you sold him last week (with gold down $60 today). He tells paypal that the photos did not show the scratch and that he wants a refund. I tend to think the seller will lose in this scenario, unfortunately. >>



    You are not selling numismatic items, as such a "scratch" as quoted in your scenario, will have no impact on the value of the bullion bar or round as long it maintains it's weight. >>




    I agree that the bullion bar is not "numismatic"....but I refute your claim that a scratch has no impact on value. The truth is that a scratch/nick free 10 gram Credit Suisse gold bar sells at a premium to the same exact bar with a scratch. Its simply human nature. Price then both at the same amount at any venue, and the non-scratched bar sells first 99% of the time. True or false?
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>

    << <i>I have often wondered about this as well?

    Anyone have any experience as to how this would play out with PayPal if a SNAD claim was filed?

    I would ASS/U/ME the seller would lose as we all know that PayPal only LOVES image the buyer image

    GrandAm image >>



    Happened to me & other forum members...On bullion, the buyer does not stand a chance of winning a SNAD if the Seller followed eBay & PayPal guidelines and the description is accurate. (ie 1 oz .999 silver or 1 oz .925 Sterling Silver etc) >>






    Im not so sure about this. Lets suppose the buyer claims there is a small scratch on the gold bar you sold him last week (with gold down $60 today). He tells paypal that the photos did not show the scratch and that he wants a refund. I tend to think the seller will lose in this scenario, unfortunately. >>



    You are not selling numismatic items, as such a "scratch" as quoted in your scenario, will have no impact on the value of the bullion bar or round as long it maintains it's weight. >>




    I agree that the bullion bar is not "numismatic"....but I refute your claim that a scratch has no impact on value. The truth is that a scratch/nick free 10 gram Credit Suisse gold bar sells at a premium to the same exact bar with a scratch. Its simply human nature. Price then both at the same amount at any venue, and the non-scratched bar sells first 99% of the time. True or false? >>



    True...that's why it so important to identify any known defects of your bullion with your description. Again, if you abide by eBay & PayPal guidelines, you should be ok as a seller.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,362 ✭✭✭✭✭
    No. I don't expect to see a return option when I purchase and would not offer one if I sold.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
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