Gold Price resulting in sellers not sending items?
mmiller40
Posts: 86
About 30 Days ago I win a MS70 half eagle for just over spot (360$). I mailed the company a money order a few days later. I had a birthday, bought ALOT more gold and silver bullion, and that brings me to today. I'm giving feedback and notice I have not received shipment from this seller. I open a dispute and ask if there has been an issue filling my order. His song and dance "I never received payment or heard from you, auction was relisted per out policy" I check and sure enough he sold it for considerably more. IMO this is pure BS. If he never received payment why did he not contact me? Why are we a month later and he has not filed non paying bidder to recover his 10-15$ fee's? Guess this is a word of warning for those buying bullion off auction sites in this volatile market.
How do I get my cash back from money order if it has not been cashed? I'm going to bank in the AM to validate.
Should I contact the police?
Should I ding him?
I asked him why he did not file NPB and he response was since I was such jerk he would go ahead and do so.. LOL
How do I get my cash back from money order if it has not been cashed? I'm going to bank in the AM to validate.
Should I contact the police?
Should I ding him?
I asked him why he did not file NPB and he response was since I was such jerk he would go ahead and do so.. LOL
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AJ
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
I have a good customer who collects 10 ounce and larger gold bars by design. Tuesday I called and offered him a 10 oz. bar that a dealer on our system had for sale basis $758 gold. The collector says he'll take it. I call the other dealer and buy the bar.
The bar comes in Thursday. I call the collector, but he's out of town. He comes in this afternoon, with gold at $783, and I sell him the bar basis $758 plus my usual markup because we respect each other.
TD
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
I stopped using Paypal during a dispute, so I had no other choice than to mail it.
I found out this AM the money order has not been cashed, and filled out paperwork to get my $$ back. It will take them 30 days after the inventigation to complete my refund.
Basically I'm out 360$ for 2+ months, on an item that is now valued over 450 on ebay and 600$ in pcgs price guide
My worst ebay experiences stem from 2 transactions that cost me nearly $10,000. One of the sellers is facing federal prosecution (Rafael Rios is the defendent - he was operating out of Ridgeville MS and he scammed a gaggle or more ebayers) and I am not optimistic but an order of restitution of my $6200 will be a start. The Fed's track these chumps for 20 yrs or so to prod compliance and with a jail sentence as leverage, I have a modicum of hope.
The other deal cost me $3251 on a non-delivery of a DBHE 1798 dollar. I paid via paypal but foolishly did not use a credit card. Paypal paid me $1000 so I am out $2251. The seller's name is Bryan Lee dba Empire Numismatics and he operated out of Los Alamitos CA. Ebay would not help nor would my local police nor Los Alamitos. Seems internet crimes don't warrant resources. I'd file suit but I do not have an address for service of process.
Before any opinions are offered re my conduct, I will admit to being careless and perhaps too trusting. Then again, the vast majority of my ebay transactions have gone smoothly.
<< <i>Another reason to trust your friendly B&M coin shop.
I have a good customer who collects 10 ounce and larger gold bars by design. Tuesday I called and offered him a 10 oz. bar that a dealer on our system had for sale basis $758 gold. The collector says he'll take it. I call the other dealer and buy the bar.
The bar comes in Thursday. I call the collector, but he's out of town. He comes in this afternoon, with gold at $783, and I sell him the bar basis $758 plus my usual markup because we respect each other.
TD >>
I would think you would sell him the bar at the price you quoted him at all times and not just because you respect each other.
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<< <i>I would suggest if you think you got a "steal of a deal" on ebay and you have to pay with a money order then definitely get delivery tracking with a signature. >>
Would that have really helped? Even if I proved it was delivered he still resold it for much higher. I guess if I wanted to take him to court to recover the actual value lost instead of just a refund it might have helped. Not that I don't agree , I just don't see where it would have helped the situation any.
back. they will know if it was cashed or not.
if cashed, find out who. i hope you kept the little stub/reciept on the
money order.
it is possible the seller never got it right?
<< <i>start the process with the money order company to get your money
back. they will know if it was cashed or not.
if cashed, find out who. i hope you kept the little stub/reciept on the
money order.
it is possible the seller never got it right? >>
Already found out it was not cashed ( would be a felony if he cashed and failed to ship)
Correct , I can give the benefit of doubt that he did not receive it. Even still he should have contacted me before relisting the item a few days later.
<< <i>
<< <i>I would suggest if you think you got a "steal of a deal" on ebay and you have to pay with a money order then definitely get delivery tracking with a signature. >>
Would that have really helped? Even if I proved it was delivered he still resold it for much higher. I guess if I wanted to take him to court to recover the actual value lost instead of just a refund it might have helped. Not that I don't agree , I just don't see where it would have helped the situation any. >>
I thought it would smoke him out on his excuse that he did not receive payment. With that proof I doubt he would have tried that scam in the first place and if that was ebay then you could appeal to them and see what happens. Maybe at least they could prevent him from doing that to another by kicking him off.
But on the point of your topic, yes and no. Maybe more yes than no since the price is absolutely going to continue to do up. What is a 10 day auction worth today if you are selling a 1 oz gold eagle for $50 over cost and the price jumps $10 during that time? Well keep in mind the eBay and/or Paypal costs and any extra costs your shipping fee doesn't cover and you have a scary situation for the flippers. The bright side is that if you are looking for real collectable eagles then they are not as volatile as there is a certain appreciation built into the price which is of course no where near spot.
The last thing is that I am a little challenged by your story that you bought a MS70 1/2 for $360 as I can't imagine what kind of stupid fool would be selling a grade 70, even recent ones, for near spot. I would have to conclude that the seller f'ed up and now he is ripping you off or you might have imagined the whole thing after a few too many bong hits. Post a link to the auction if you will.
Good advice, was wondering about that
Thanks
But I do insure packages, and I do use certified mail, return receipts and delivery confirmations depending upon the value of the letter or package. I've had packages that "were not received" suddenly get found when I produce a photocopy of the signature from the return receipt or signature guarantee.
I have also had lost packages mysteriously re-appear when the postal inspector comes 'round to investigate my insurance claim. Postal insurance is good because the recipient signs for the package, and even though you don't get a receipt, the P.O. can track it if there is a claim, so insurance is a good broad-spectrum deterent, and you don't really have to pay more for a signature or a return receipt.
In your case, a Certified Letter would have been a legal document to prove in court that he received your payment.
Protect yourselves. It's not free, but it helps.
I knew it would happen.
<< <i>
The last thing is that I am a little challenged by your story that you bought a MS70 1/2 for $360 as I can't imagine what kind of stupid fool would be selling a grade 70, even recent ones, for near spot. I would have to conclude that the seller f'ed up and now he is ripping you off or you might have imagined the whole thing after a few too many bong hits. Post a link to the auction if you will.
Here is the link, hope you did not think I was making something up... Yeah he sold it WAAAAYYYY to cheap.
Ebay Link 367 MS 70
<< <i>
<< <i>
The last thing is that I am a little challenged by your story that you bought a MS70 1/2 for $360 as I can't imagine what kind of stupid fool would be selling a grade 70, even recent ones, for near spot. I would have to conclude that the seller f'ed up and now he is ripping you off or you might have imagined the whole thing after a few too many bong hits. Post a link to the auction if you will.
Here is the link, hope you did not think I was making something up... Yeah he sold it WAAAAYYYY to cheap.
Ebay Link 367 MS 70 >>
Good deal..even for an NGC 70....( I consider them 69's in my book)