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glenmorenee's Last 20 Posts
| Here's Another Fake 1 Oz Gold Krugerrand On Ebay Closing Soon
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glenmorenee
Valued Member
United States
232 Posts |
 Posted 04/29/2025 7:56 pm
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It appears that reporting obvious fakes to ebay is a waste of time. I've done this in the past and occasionally I'll see the auction removed but not lately. After the two that I just listed, I got an acknowledgement from ebay and then a generic response saying their AI has reviewed the listing and that it is in compliance. So as long as the listing doesn't violate any of the rules of listing then it is OK. Doesn't appear that a photo of a fake coin violates their rules because someone would have to try and authenticate thru photos.
It may be that in the future, ebay will offer 3rd party authentication, probably thru NGC or PCGS. They already do this for sports and Pokemon cards. For instance, I sell a Pokemon card. Buyer buys or bids and wins and also checks the box to authenticate. I ship to authenticator, in this case, the PSA company. They confirm or deny and then forward the card to the buyer or returns it to me. My payment is withheld until buyer says OK. PSA does this for free but then gets to offer grading for a fee and or storage for a fee. |
| | Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum |
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| Silver Polishing Day
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glenmorenee
Valued Member
United States
232 Posts |
Posted 04/25/2025 1:31 pm
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One of life's little pleasures is to use silver plate or sterling for everyday use. They only need a touchup a few times a year. A quick dunk in silver dip is all that's needed or take out the polish if you really want them to look spectacular.
Back in the day (1980's) they offered 100 year warranty and you could send in stuff to get replated. But nobody honors that guarantee anymore. |
| | Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum |
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| Here's Another Fake 1 Oz Gold Krugerrand On Ebay Closing Soon
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glenmorenee
Valued Member
United States
232 Posts |
Posted 04/24/2025 10:51 pm
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Someone got anxious and did the Buy It Now for $3400.
I am not sure who ends up losing.
Seller has to ship insured which costs at least $60.
If buyer realizes it is fake, he invokes ebay guarantee, gets prepaid return shipping from ebay? and returns it. Once tracking shows it has been delivered, ebay refunds purchase price. So buyer will eventually get refunded but is tied up for awhile because there are a lot of moving parts. Seller has to cough up shipping, possibly both ways.
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| | Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum |
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| No Longer A Collector
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glenmorenee
Valued Member
United States
232 Posts |
Posted 04/09/2025 5:45 pm
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This has been my experience with collectibles. Long post so skip to the end for lessons I've learned or skip altogether if you have no interest.
Whether collectibles are a good idea is only clear in hindsight and only after a considerable amount of time.
I bought a lot of Pokemon cards in 2000 because my son played the game. I avoided selling the cards until last year because it is actually work, and I decided to sell a lot of stuff to avoid saddling the kids with the chore. Last year I sold almost $20k worth and have another 1/2 to go. Good that I've waited all these years but bad now that ebay has reporting. That Pokemon has done OK is only clear in hindsight. I could have bought Beanie Babies.
I dabbled in art maybe 40-50 years ago. Back then I bought a $5k Masami Teraoka watercolor. A few years later I decided that was really stupid so I sold it and managed to break even. Of course it is worth a lot more today.
In hindsight I correctly pivoted to collecting a few photographs which at the time was just starting to bloom. This was when Ansel Adam prints took off. Couldn't afford one of those so I spent $1500 on an Irving Penn "Cuzco Children" print. I bought it because I loved the image and it gave me joy every time I looked at it.
Fast forward a few years, my MIL buys a triplex and my wife and I move into one of the units. The kitchen needed a remodel so I sold the Cuzco for about $9k. Today that print is worth over $250k. Had I not sold it then, I'm sure there would have been a dozen times later that I might have wanted or needed to sell. It is only in hindsight that it was originally $1.5k and today over $250k.
Picking up my check at the gallery that sold the Cuzco for me, was a show of a new photographer, Michael Kenna. Gallery owner said take a look. Most important was the price, about $90 per print. I picked out one and my wife picked out another. From time to time I would check the market for Kenna prints. What concerned me was although most editions were limited to 45-90 prints, he had a LOT of images , and a lot of the images had a very similar feel to them. Maybe 10 years later, I gave them to a gallery to sell and realized $5k for the one my wife picked, and $3.75k for the one I picked. This past year, I happened to come across a Kenna print at an estate sale. I bought it for $150. I have no hopes of selling it for 1000s. I just knew it would always be worth at least $150. I still have 5 other various prints bought at the beginning but only one is worth a meaningful amount.
Lessons learned.
Don't buy art as an investment. In particular never buy anything from one of those resort city type galleries. If you do buy art you have to take care of it. Selling is hard. The sell commission is around 15-30%. The tax rate is around 30%. |
| | Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum |
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| The High Price Of Bullion
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glenmorenee
Valued Member
United States
232 Posts |
Posted 04/03/2025 1:50 pm
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I would guess scruffy common dates are off to be melted. Anecdotal evidence from recent coin show, dealers were selling common dates at spot or even below spot. No buying. No one wants to be holding a lot of inventory at these prices.
I've always wanted a $10 gold Indian head and on the one hand the premium is gone but it still is ~1600 for 1/2 ounce. |
| | Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum |
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