General question concerning protocols for coin transactions.
PerryHall
Posts: 47,055 ✭✭✭✭✭
When someone has a coin for sale on the BST forum, the buyer usually sends the money first and the seller then sends the coin once he gets the money in hand. However, if I make a post looking to buy a certain coin and another forum member contacts me that he has that coin, does he send me the coin first and then I send him a check after I receive the coin or do I send him payment first and then he sends me the coin? What is customary? Obviously, if both parties know each other well and there is a high level of trust, it doesn't matter who goes first and they could both send the coin/payment at the same time. But, what if both parties to this transaction are relative strangers here?
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
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Sorry, didn't mean to add to your thread but this is something I've been wondering myself.
<< <i> But, what if both parties to this transaction are relative strangers here? >>
If one of them can provide good references and the other can't, the one who can should probably be allowed to complete his end of the transaction after the other party has done so. If neither can provide good references, perhaps a well known third party could serve as a middleman.
<< <i>Send payment first. If it is a fraud, one can easily find what account it was deposited in to - just keep track of you documents and check number. >>
With (as the expression goes) all due respect, that might sound fine and dandy. But on a practical basis, it is often extremely difficult to recover the funds in that type of situation.
``https://ebay.us/m/KxolR5
1) Do you know each other? If so, then there should be no issue.
2) If you do not know each other--a third party is best.
3) If you do not know each other and a third party is not doable for whatever reason, the buyer should remit payment and upon receipt the seller sends item.
4) If one person is well known on the forum and has many references and the other does not have any, then the one without should bow to the other.
5) If your situation does not fall into 1 thru 4, pay via paypal and be comforted that you have some insurance should the deal go south.
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
<< <i>When one creates the listing, he also drafts the protocol. It's your deal. You make the terms. >>
Excellant point.
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
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>I will gladly provide escrow service for a nominal fee.
Looking at your sig line, you certainly have ample references.
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
There ends up being a bad apple on there (BST) about once a year or so.
After a few deals it gets so thousand's of dollars worth of coins and checks can be crossing in the mail some times with the right people. Even lines of credit can be arranged.
Usually, as a buyer, I don't mind sending the money first, particularly if a known entity, but find that many folks ship the coin right away as well, so it is a cross-ship anyway.
If it is a seller I don't know, and they take paypal, I'll use paypal and pay the fee that way, if there is an issue, I have some safety.
Thankfully, on all sides, I have not had issues in the many transactions from $10-$5000 I have had on here. I do find it interesting in that, there is at least 1 member I have bought from a few times and it seems to be their policy to ship nothing until receiving the funds. That's fine, but, having dealt with the person, and meeting them in person, multiple times, I find the delay on a $50 item "interesting".
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment