Would you.....
alaura22
Posts: 3,411 ✭✭✭✭✭
alaura22
Posts: 3,411 ✭✭✭✭✭
alaura22
Posts: 3,411 ✭✭✭✭✭
Comments
I have. Depends on their reputation, cost of the coin, etc...
"Why waste time learning, when ignorance is instantaneous?"- Calvin and Hobbes
I have done this for a $5k coin recently but do your own due diligence and research. Make sure you know enough about them to take the risk. You can't get the money back, so be careful.
My US Mint Commemorative Medal Set
I have but I won't put myself through that stress again; high dollar. Only use it with people you know well and trust because the transaction, as you know, cannot be reversed.
I was just lucky that my transaction didn't go sideways, which I'm sure it could easily.
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
Nope, don't like pp either.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
The seller has a website, been in business for 45 years but doesn't have PP or CC payment options, only by check, snail mail and Zelle
Mike
My Indians
Danco Set
No 👎
As long as you are confident in them, I think it's fine. No different than writing a check. Just not for a random person.
chopmarkedtradedollars.com
Absolutely, I've done it many times. I prefer Zelle over PayPal, Venmo, or any of the other electronic transfers. As long as it's a trustworthy vendor, you'll be fine.
Founder- Peak Rarities
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Is there something about Zelle that makes you skeptical? Otherwise, with the information about the seller, you may be overthinking it.
BHNC #248 … 130 and counting.
Yes. Zelle has NO recourse if you get scammed or need a refund for whatever reason. This is where Paypal is superior (unless you use the "Friend and Family" option), and Paypal has on a couple of occasions been a life saver for me personally.
Dwayne F. Sessom
Ebay ID: V-Nickel-Coins
You may be right that I'm over thinking this. No only thing is that the transaction is not reversible.
Mike
My Indians
Danco Set
Which is a HUGE factor. Nobody thinks they are gonna get scammed before they get scammed. And every person who had ever committed a crime was a Saint before the "first time"
Would a check be better? I pay alot of dealers via check and Zelle is never offered from them.............
Only if its a in-person transaction where I could hold and check the coin myself before paying.
No and will never buy from any source that does not protect me as a buyer. Even if I purchased on the forums here I would use paypal invoice at a cost of 3% for peace of mind.
There are a lot of good people of these forums that is not my point it is just the way I role and this is no disrespect towards them. We all have are own ways in life and I stick to mine.
NFL: Buffalo Bills & Green Bay Packers
It's just the time factor, I like easy transactions. I don't even think I have a stamp!
Mike
My Indians
Danco Set
The world is filled with good and bad people I rather not risk dealing with a potential bad one. Just because it has never happened before that does not mean you will not get ripped off moving forward. Only means you have been lucky so far.
NFL: Buffalo Bills & Green Bay Packers
Depends on the amount and the dealer’s reputation.
Not really sure how a check is better. With a check you are also taking USPS risk and handing over your bank account number which is printed on the bottom of the check!
It kinda sounds like you already know the potential risk involved. It basically boils down to if having zero recourse if the deal goes south is worth the convenience. If it goes smooth it will have been a great decision if the deal goes bad... not so much.
I would not.
I am don’t use Zelle, Venmo, PayPal, …….. and I prefer face to face transactions.
Thanks to all that responded and all the different points given, I do appreciate all your opinions. That said, I went ahead and made the purchase based on his reputation.
Mike
My Indians
Danco Set
I agree but sometimes it's not possible
Thanks for your opinion
Mike
My Indians
Danco Set
Quadruple check that information is entered correctly. Hate to see payment go to someone else's account with no way to retrieve. That was my biggest concern; a mistake on my end, added to the fact I was dealing with someone I didn't know.
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
Yes but that’s not unique to Zelle. It could happen with PayPal or Venmo etc.
I dont use Zelle so I was genuinely curious.
BHNC #248 … 130 and counting.
ha ha ha ,I checked the info 5 times before I sent it.................
Mike
My Indians
Danco Set
Did not know this. Thanks.
Out of all the payment platforms, Venmo seems the smoothest, IMO.
BHNC #248 … 130 and counting.
Since my bank offers it I went ahead and singed up. It went smooth.........
When I went to send the money they asked me (the bank) are you sure everything looks correct before they made the transaction, even sent me a text to confirm it.
Mike
My Indians
Danco Set
Why would any company in that business not offer help with recourse if a client of theirs did not follow through. That alone would prevent me from using the service. I'm glad for those of you using it without issue. Two times in the last year I dealt with sellers I had never heard of before and both times it was a scam, but both times I used paypal and was made whole.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
They're not really "in business". It's a platform that links to your bank account. I can only access Zelle by opening my bank app and processing the payment there. They don't get a piece of the transaction, it costs $0 to use.
Founder- Peak Rarities
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Every "fee free" payment method offers virtually no recourse, whether its Zelle, Venmo, Check, E-check, PayPal F&F. If you want recourse, you must pay the 3% for PayPal G&S or use a credit card, so fee free shouldn't be used unless you're comfortable with the risk and dealing with a trustworthy individual with references, and a solid reputation.
Founder- Peak Rarities
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I've sent or asked someone to send me $1 first to test out that the email/info is correct. Once you see that pending in your account, you can be more confident that you have the right info to send the rest.
Yes no issues here.
I have not used Zelle... I have used Paypal in the past. But mostly, on the few occasions I sell coins (usually gold), I request Postal money orders. Works well.... Cheers, RickO
I would never... use click bait titles.
I also would never use cash, check or zelle with anyone I didn't know.
It doesn't have to be an outright scam. Suppose the coin is damaged in shipping and the seller won't accommodate you? Suppose there's a problem with the coin and the seller won't accept a return?
depends on my relationship with the seller ... previous personal transactions, established business entity, known references, long standing business, etc. Zelle is great and fast but I would want to be confident in the likelihood of the completed transaction.
Top 10 Cal Fractional Type Set
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No