Gold Coin

[bobsbits123]

I recently listed a Gold Coin, value approximately £1500, I would have sent it Royal Mail Special Delivery

so far so good, but it crossed my mind, what if the guy said I sent a 2p piece and he wants a refund, sends back a 2p piece and demands a 

[plpmr]

it could happen and there's very little you can do about it.

[lucy_farmer]

The old saying   'don't put anything on ebay that you can't afford to lose' still holds true......

[kyanyama]

No ways I would try and sell a gold coin on here!  You are much braver than me!

Easy for a dishonest buyer to do exactly what you are worried about.  Better to find a bullion dealer in your area and take it personally.  They will do a test to check quality and give you the money into your bank a/c.  Might not be as much as as selling on here - but much safer.

Don't sell anything on this platform you can't afford to lose.  Even collection is fraught with problems as the only safe way to sell such an item is cash on collection once inspected but this platform has removed that possibility so you are still stuck with a buyer stating NAD even after inspecting and collecting as eBay can access your funds.

Every day is a school day!

[dancewithadingo]

Good Evening Bob

It's a tad late now as you sold the coin on saturday. If you haven't sent it yet then you have to decide if you wish to proceed or choose to refund the buyer and explain and face the consequences.

If you have sent it then there is nothing to stop your buyer sending back anything other than the gold coin. Selling high value items you are exposing yourself to scammers, You may have let the sight of pound notes cloud your judgement.  

Selling anything is fraught with dangers and possible problems. Stick to low value items, that should anything go wrong with the sale you will not be vastly out of pocket.

Sell your gold locally to a bullion dealer. Keep it for a few years until the gold price rises and you show a handsome return. Alternatively wait until Dickinson's Real Deal comes to your area and take it to the show and sell it risk and commission free to a dealer. I did. A worthwhile and rewarding experience.

[coyotetower]

the tension has gripped me now

[gatefittingsdirect]

Brave indeed, a £1500 coin through Royal Mail? can they cover insurance even? 

[ed_58611]

Yes, they do with the service mentioned by the OP - Special Delivery Guaranteed by 1pm.

The question was about the hypothetical instance of a dishonest buyer who files an INAD claiming he was sent a 2p coin and getting a refund from eBay without question or recourse... 

And as @plpmr  rightly says "it could happen and there's very little you can do about it."

 

[jckl1957]

When I sold a similar coin (bought in 2014 before I was living on a pension!), I actually sold it back to the Royal Mint.

It was a fairly simple process and obviously there were no fees to pay and no worries about a dodgy buyer.

[ed_58611]

@bobsbits123 

 Oh, now that is a great idea / option... I've tagged the seller to ensure he sees your suggestion, and here's a link to The Royal Mint's Buyback Service

https://www.royalmint.com/invest/sell-your-precious-metals/?utm_term=bullion&utm_campaign=PRM+-+Inve...  

[gnosemalf]

I've bought gold from a dealer which was sent by special delivery. I wondered if the postman knew what I was signing for but it was wrapped in so much bubble wrap, it could have been anything.

[gnosemalf]

I'm guessing it was a half ounce coin. I definitely would not sell gold on eBay. The dealer I bought from buys at the minimum of 99% of spot price so during the recent frenzy, you might have got about £1600 with no eBay shenanigans and less risk. I only ever bought one silver bullion item but that was because it was below spot price.

[millcottage]

I have sold numerous sovereigns on eBay and three 1 oz gold coins selling for between £1550 and £1750 at the time. 
All but one have found without hitch.

I have only cancelled one bid where the highest bidder was someone that only ever bought low value items and recently gold plated Britannia coins. My thought was they may well return a gold plated version as a scam.

The one that went with a small hitch was a Gold Maple leaf 1oz I sold for £1550 (bought it for £750 years ago).

The buyer bought bullion as an investment and prior to going into storage the jewellery store did a test on coil and found it was a fake aka only 98% gold rather than 99.999%. 
I asked him to return the coin for a refund and he agreed also sending the report on the coin.

 A few days passed and no coin …then he pinged me and said he took the coin the second opinion and it passed as 99.999% and it turned out the jewellery stores tester was faulty.

However recently I have sold gold coins to Bullion By Post. 
Zero issues and no stress like selling on eBay.

i don’t see how I can sell coins on eBay anymore with them dictating  post and charging a buyer a fee.