Whats so wrong with shipping the metal before getting a payment?

gecko109

I have done this several times, and all went well. Scam artists can play from BOTH sides of the field on the BST guys. I can be a seller....ask for USPS money orders or paypal gift and send you an empty box just as easily as I could ask you to send me the metals first and then send nothing at all.

Why do people feel that the "buyer" should always make the first move in a business deal? What extra protections are afforded by doing things in this "conventional" way? I have done both ways....send metals first, and waited for payment first. I have also send my payment first, and received metals first as well.

I just do not understand what makes a "seller" any more honest or trustworthy than a "buyer" and thus require the buyer to always go first.

jmski52

Good points. However, since I always send payment first for something I buy, that is also my policy when I sell. I don't know if it makes more sense to do it some other way, or not.

Everyone sets their own policies based on their own comfort level, I think.

gecko109

"Comfort level" is a very real thing indeed. But why is someone presumably more comfortable sending a USPS money order for $750 than they are in sending a 1/2 oz AGE? Arent both worth about the same in terms of value and potential loss? As a "buyer" you are comfortable in going first, but as a "seller" for about the same value transaction, now you arent comfortable in going first? I just dont understand....hopefully this thread will help me to see something I may be missing.

jmski52

I think that it's a whole lot more important to have an inkling about the person you are dealing with before consumating a deal, than it is to decide who goes first.

Beyond that, I think that one should have a policy that remains consistant and paying up front is consistant with more businesses than is shipping first.

TheBigB

I understand where you are coming from gecko109, but feel that if you are not comfortable with the seller, do not deal. The seller should be more trustworthy and have the references to back it up.

MoneyCollector

I have done both but I agree that as buyer since I send cash first, as seller I should receive cash first. I responded to a WTB and sent almost 5 figures worth of gold but I checked out my buyer; he was a licensed professional so he had something to lose and I talked with him on the phone and got comfort. Was an easy transaction. If I offer to sell, I think I would always want to get paid first (I think). May depend on whether buyer is a dealer or not(?) - not sure I know.

Randy

RedHerring

There's no other way to do it if selling to APMEX, MCM, etc. If buying from a new member, sounds fine to me.

Precious Metals on approval.

derryb

I'm running a BST escrow service. Send all the bullion and all the money to me.

TexasNationals

People send me coins before payment or even commitment all the time.

Jeff

chumley

I,m pretty flexible on lets make a deal....of course I choose who I play with

Justacommeman

<< <i>I,m pretty flexible on lets make a deal....of course I choose who I play with >>



Ditto..............MJ

OzzyAndy

I think the difference between buyer and seller comes from the traditional and modern concept of a shop. The seller was usually in a shop, so could easily be reached if something went wrong. The buyer however would visit the shop and so could be hard to track down. I guess its because business is usually/often done on the sellers premises that they get more trust put in them.

With the internet and bulliten board markets, I guess things could change.

goingbroke

I have sold on the BST and each of my customers were happy with my communication and FAST SHIPPING. I received their payment and shipped the day payment cleared my bank. I also have sent payment in advance when I have made purchases of bullion here on the BST. I would like to believe that most if not all here are honest, and so far I have not been disappointed. I believe communication is the key to both buyers and sellers here as well as FAST SHIPPMENT of product. JMO

DuCrozat

My problem with this is that though you trust the buyer, if something were to happen to him, there is no one to back you up. It's a chance that you take. With APMEX, they are pretty much solid, but individual circumstances are a different thing.

57loaded

i have always done that with one here on the boards. but i have always mailed items after payment.

i also don't mind taking regular PP to give the buyer some added security. most send a MO or check anyway. if i was a dealer i would probably do it different.

fiveNdime

nothing wrong.
it would be easy to get ripped off.
pay first, receive benefit. that's how most transactions go.

that's why most gas pumps are no longer pump first.



<< <i>Arent both worth about the same in terms of value and potential loss? >>


the money order could be canceled / replaced. the AGE, is 'gone'.

derryb

Money orders/postal orders cannot be cancelled - same as sending cash. Cashiers checks can be cancelled, if they have not yet been cashed/deposited.