Question About Buying Coins Long-Distance

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Author	Replies: 4 / Views: 1,302
ndwlegal Valued Member United States 160 Posts	Posted 01/23/2013 5:56 pm Has anyone researched how to properly protect both buyer and seller when purchasing coins through a private sale, craigslist, etc.? Basically, I have communicated with a guy regarding some coins. We have reached an agreement on price. We are not in the same state. How do we set up the transaction so he is assured I do not run off with the goods and I am assured he doesn't take my money and not send me anything? Is there a way through Paypal or some other method? Report this Post to the Staff

jakedacc Pillar of the Community Canada 1177 Posts	Posted 01/23/2013 6:06 pm i don't think so, maybe set up an ebay BIN and then purchase? Report this Post to the Staff
basebal21 Bedrock of the Community 13014 Posts	Posted 01/23/2013 6:06 pm You'd have to have him list it on ebay or something if you wanted the protection. Paypal may provide limited protections, but when you buy and sell outside of the websites to avoid the fees you also give up the protection they provide as well. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 01/23/2013 6:09 pm As long as you're both Verified by Paypal, a private transaction for coins will be covered by Paypal's Buyer Protection the same as an ebay transaction. Have him invoice you for something accurately described, and pay as a "Goods" payment. If you end up filing a dispute, the amount of the dispute is immediately deducted from the seller's account and held in escrow by Paypal - that's a heck of an incentive for the seller to make good. Do everything by the numbers - insurance, tracking, your receipt signature of the transaction is over $250 - and you should both be reasonably safe. With that said, I've never done this, nor been involved with a dispute for a private-party sale. If the seller is an eBayer, you could also arrange a timed Buy It Now at a moment you've prearranged. Report this Post to the Staff
Kurrykid Valued Member United States 455 Posts	Posted 01/23/2013 9:16 pm A few years ago, escrow services were very popular and it saved me a few times...how about something like that? Dave Report this Post to the Staff
	Replies: 4 / Views: 1,302

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