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 Replies: 12 / Views: 688 |
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Valued Member
United States
479 Posts |
I read a review of a precious metals supplier from an individual who complained that his $1,800 gold coin was not in the package when it arrived. When he complained the supplier said that their responsibility ended when he signed for the package.
Given the above scenario is it best to open your package in front of the driver until you're assured you got what you paid for? Course now the driver knows that precious metals are delivered to your address.
What's the best practice to protect oneself?
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Pillar of the Community
United States
1949 Posts |
Best practice is to buy at the LCS or coin shows cash and carry.
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Pillar of the Community
United States
7038 Posts |
 —— buying local is the best way to go if possible. However —- I have no problem opening high dollar pkgs in the presence of my long-time postal carrier. Especially if the pkg is from a Seller I don't know or have not done business with previously. There are some things I can't find locally so online or mail order has its place in the buying chain.
Edited by westernsky
05/25/2023 12:17 am
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Bedrock of the Community
Australia
21184 Posts |
Buy in cash in person; it is safer.
Bonus: you get to examine in hand yourself, before purchase.
Postal services no longer have to be trusted and relied upon.
I don't trust my credit card anymore, due to scammers
My medical records were hacked and sold on the 'dark web'.
Now, I have an average of three scam attempts on my 'phone, each and every day.
Don't use my 'phone to make payments, either.
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Metal objects, especially coins, are easily detected by X-ray equipment.
An unscrupulous (and criminal) shipping employee can be tempted to remove one or two coins from a package, especially if that employee is one of the underpaid 'working poor'.
It shouldn't happen, but
occasionally, it does.
Edited by sel_69l
05/25/2023 06:25 am
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Pillar of the Community
United States
1949 Posts |
Quote:
Buy in cash in person; it is safer.
Bonus: you get to examine in hand yourself, before purchase. Yep it takes the guesswork out of purchases where you may get some random year ASE or some random assortment of 90% silver. Also, with your point about credit card scammers - buying with cash not only avoids that, but keeps your home from being a potential target. If your credit card can get hacked, so can your purchase history and your address. Hey look...this guy bought a monster box of ASEs three times and 10 ounces of gold. Call me paranoid, that's fine, but I like to keep these types of purchases a little more discreet. Not even sure posting in the "what did you add to your stash" thread is a good practice.
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Pillar of the Community
United States
741 Posts |
Find someone you can establish a business relationship with and who will stand behind what they sell. Then pay a fair price and if shipping pay for peace of mind via insured and registered. If possible just buy local for bullion as you can see what your buying and sell to that guy as well. Nothing like seeing what your buying beforehand.
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Moderator
 United States
128395 Posts |
Quote:
Best practice is to buy at the LCS or coin shows cash and carry. Quote:
Buy in cash in person; it is safer.
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Valued Member
United States
144 Posts |
Checking over my notes, my purchases break down into 3 categories, 1) LCS and coin shows, 2) ebay big dealers, and 3) ebay small sellers. I have never had any problems with purchases from ebay.
The pluses and minuses of each:
1) Cash and carry. You can easily pick and choose and compare prices. Lots of variety. Big coin shows are fun! Can't use credit cards (points help lower the premium). There might not be a coin show around when you feel like buying something.
2) Good variety. Easy to compare prices. The big sellers have dynamic pricing so their prices always reflect the current spot so you can buy 24/7. They are well oiled machines. Shipping is fast and efficient. Their shipped packages suggest they have undergone insurance company review.
3) It seems that pricing has narrowed so that there is no reason to take chances with small sellers. I restrict myself to sellers with large positive feedback but find I am using them less. Sometimes their packaging is less than optimal. I have never had a problem with a small seller but all it takes is one. It may be that I place too much faith in ebay's guarantee.
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Pillar of the Community
United States
2844 Posts |
After multiple coin thefts from both porch and home mailbox I got a PO box. Since then I have gotten everything.
The most egregious example was an overseas shipment of a slabbed CC $10 eagle worth $2500. The FedEx driver tossed the poorly packed bubble wrap package onto my porch, with no signature, as they always do. I don't know whether it was ripped open in transit or after it arrived, but the thief left the receipt inside. The seller refunded the purchase price on that one, after I sent multiple photos of the ripped envelope. In other cases I wasn't as lucky. During Covid USPS drivers quit doing signature delivery at the door, signed for the delivery themselves, and left the packages in the mailbox or on the porch. I lost a couple coins that way.
If someone is doing a remodel in your neighborhood beware. I'm not as suspicious of yard service people, but they could have been involved too.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
05/27/2023 4:46 pm
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Pillar of the Community
United States
1134 Posts |
On high dollar coins I use my cell phone and take a video of me opening a package for proof to show what is or isn't inside. I've never had an empty package thank goodness. One time the wrong coin was sent, seller emailed a return label. I recall only a couple coins lost in mail, sent from Europe to USA, got refunds.
I've never had a package stolen from my porch. But I installed security cameras around my house about three years ago, have a good view of my front door and mailbox, nothing stolen so far.
Several years ago a friend ordered new curtains for her windows. They were delivered while she was at work according to the mailman. They were not there. A day later she noticed the elderly woman across the street putting up new curtains on her front windows. The curtains were delivered to the wrong house. My friend did not call the police, just wanted the curtains back.
Edited by livingwater
05/27/2023 6:55 pm
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Moderator
United States
128395 Posts |
Quote:
Big coin shows are fun! Can't use credit cards... One thing I have noticed over the last few years is that more and more coin show dealers are accepting non-cash payments. While cash is still king, the tide is turning. If we want the next generation collector, dealers need to adapt to how they like to spend their money.
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Valued Member
United States
98 Posts |
consider using ebay. Much better buyer protection there.
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Pillar of the Community
United States
4308 Posts |
My original $3k order never even arrived, usps tracking showed it. Insured, signed delivery.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
06/18/2023 09:37 am
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Replies: 12 / Views: 688 |
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Posted 05/25/2023 12:12 am
