The Risk (and pain) of using US Postal Money Orders to buy coins
relayer
Posts: 10,570 ✭
I purchased this 1860 Seated Half Dime on 6/11 and sent a USPS money order on 6/13.
Yesterday I asked the seller what the shipping status was and in response he filed an Unpaid Item Dispute, and sent me an email saying he didn’t receive payment.
I went to the Post Office and asked what to do about it. They gave me a form 6401 that is used for a Money Order Inquiry.
They charge a fee of $3.75 for filling it and afterward you can call an 800 number to get the status. Then it says “a refund will be issued no sooner than 60 days from the money order issue date provided the money order has not been cashed.”
Oh, and right above the signature it says “I agree to pay the Postal Service™, upon demand, the amount of the refund if the designated payee, purchaser, or financial institution cashes the original money order.”
So if the seller, or a guy who stole the money order cashes it at a bank, I’ll have to pay the back the Post Office (assuming they issue a refund sometime after August)
Plus I still have to pay the guy for the coin now, so I could wind up paying twice.
The seller has been around since Feb 05 and has 139 positive feedbacks (100%) and I’ve bought about $1,800 worth of coins from him without a problem (which includes the 1892 Barber dime below – which is an incredibly beautiful coin in person)
So USPS Money Orders can work against you. For those who will say to use PayPal, that doesn’t always work for me. I have their MasterMoney Card which I use as a MC to spend my balance in order to get the 1.5% rebate (to help offset the 2.9% they charge me every time I receive a payment). So if I have a $100 balance in PayPal, but ordered something for $60 on the card, I can’t pay more than $40 until the charge comes in since PayPal takes the funds from the balance first before doing a bank transfer or credit card.
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The problem with a check is I first have to black out my address printed on the check, then put some white-out over it and write in my PO box address. Then I have to wait whatever the sellers check hold policy is before they will ship.
It's easier to pay the 90c for a US Postal Money Order
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This has happened a couple of times.
Check it out.
<< <i>So USPS Money Orders can work against you. For those who will say to use PayPal, that doesn’t always work for me. I have their MasterMoney Card which I use as a MC to spend my balance in order to get the 1.5% rebate (to help offset the 2.9% they charge me every time I receive a payment). So if I have a $100 balance in PayPal, but ordered something for $60 on the card, I can’t pay more than $40 until the charge comes in since PayPal takes the funds from the balance first before doing a bank transfer or credit card. >>
You could withdraw the money then pay with a cc?
BST successful dealings with:MsMorrisine, goldman86
I hope it works out for you. Oh, and cool coins!
-Kurt-
NoEbayAuctionsForNow
After emailing the seller explaining the form and where/when payment was sent, I got an email from the seller today
I am at the address so it increasingly appears that the error is on my part. I will get the coin out to you tomorrow while I try to clear this matter up. In the event that the money order was not cashed, you can always send me another. thank you for your patience.
So I'm not sure what that means
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San Diego, CA
I have that 800 # around somewhere as my postmaster gave it to me for free.
I have had a similar experience twice in 3 years. First guy I ripped an 94-s au $5g for $247 and he went into denial. After two weeks- (short version)--I told him I would pay twice and just wait for refund. My MO showed up next day. Miracle ? I think not.
Other guy--couldn't find payment for a month...I got a little 'stern' (according to him)and (short version) told him I would pay twice and wait for refund. He 'found ' POSTAL MONEY ORDER.
Always send Postal MO certified mail. And fill it out completely. And keep your POST OFFICE RECEIPT. At least with the PO you can talk to a real person if you have a problem.
Yeah, the clerk said to use certified mail when sending a money order, but I always just send it regular first class (without a problem until now).
LALASD4 - that's a great idea (especially since he said he'll be mailing the coin).
The form says that the purchaser has to submit it (they take ID) but the customer filing the inquiry (and who will eventually get the claim money) could be the receipient.
That way it becomes an issue between him and the post office
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since 8/1/6
<< <i>A few ebayers won't take personal checks because you have to see if they clear . >>
I have never understood this approach. I have no problem waiting until the check clears if I send a check.
San Diego, CA
Tyler
<< <i>I hate PayPal read this www.paypalsucks.com i did a transaction for 17k with Paypal with a client and PayPal almost screwed me i had to get the AGs office involved. >>
Just because you screwed up one transaction doesn't mean that millions of other transactions are not processed successfully. And don't drag out that tired sucks site -- we've all been there and listened to those whiners. The OP's post goes to show that even a supposedly simple money order transaction can go awry.
Once you get beyond face-to-face cash transactions, there's a whole variety of problems that can come up. It's just a cost of doing business online. And like another poster said, unless you've got some spectacular, one-of-a-kind coin that I can't get anywhere else, you better take PayPal, or else you won't get my business. It's just not worth my time to deal with the hassle of MOs.
And as to checkout - screw checkout, it ALWAYS fails on me and then I need to send a long-winded email to seller explaining why I'm not using checkout. Biggest PITA eBay ever came up with; either make it WORK or dispose of it. I LOVE it when sellers say "forget checkout" and in their listing, specify that they'll email me.
What a strange concept!
<<And as to checkout - screw checkout, it ALWAYS fails on me and then I need to send a long-winded email to seller explaining why I'm not using checkout. Biggest PITA eBay ever came up with; either make it WORK or dispose of it. I LOVE it when sellers say "forget checkout" and in their listing, specify that they'll email me.>>
Checkout always works for me. IMO it's the second best thing Ebay has ever done (Buy it Now is the best).
<< I hate PayPal read this www.paypalsucks.com i did a transaction for 17k with Paypal with a client and PayPal almost screwed me i had to get the AGs office involved. >>
Just because you screwed up one transaction doesn't mean that millions of other transactions are not processed successfully. And don't drag out that tired sucks site -- we've all been there and listened to those whiners. The OP's post goes to show that even a supposedly simple money order transaction can go awry.
Once you get beyond face-to-face cash transactions, there's a whole variety of problems that can come up. It's just a cost of doing business online. And like another poster said, unless you've got some spectacular, one-of-a-kind coin that I can't get anywhere else, you better take PayPal, or else you won't get my business. It's just not worth my time to deal with the hassle of MOs.
>>
Why would anyone accept a $17,000 payment with PayPal? Did you feel generous that day and WANT to donate $493 in fees to PayPal? A bank wire costs what, $10-$15? That having been said, I have to respectfully disagree with Flaminio. How would you feel if you (for some reason) took a $17k payment by PayPal, only to be told that money would be held for 90 days and then not be able to even speak to a human being on the phone? How would you feel if you were that one person among millions. My dad almost died from complications in a recent back surgery. His doctor actually had the audacity to tell him that complications only happen in 1 in 200 patients and he just happened to be the one!
Now I love PayPal as both a buyer and seller, and I will not pay with any other form of payment when buying from someone. I think PayPal is a good service, but you have to admit that it would suck to be that one in a million that they screw up.
Origin: I did not intend to sound so harsh. Look at it from PayPal's standpoint though. What if your credit card was one of the 40 million numbers that was recently stolen from a hacked database. Someone used your card to set up a dummy PayPal account and bought a $10,000 coin with that dummy PayPal account through your stolen credit card. You see the charges on your card and immediately dispute them and cancel the card. Naturally, your credit card company removes the charges and reverses them back to PayPal, who in turn begin an investigation, only to find that the trail stops at a dummy PO box. Now if PayPal had insisted that the criminal ship the coin to your credit card billing address, what do you think would have happened? As it is, PayPal is out ten thou' because they let someone ship something to a non-billing address. That's a foolish risk for PayPal, or an ebay seller, to accept.
CASH, personal check, cashier's check, WU wire; all same same, scam city, no protection or recourse for a buyer. The thought of somebody doing a cc chargeback is what sends fear quaking down my spine keeping me straight.
Think about it!
ps that obv is hideous be glad it only cost you $3.75 to get out of it.