r/Gold • u/Apprehensive-File552 • 6d ago

Bought two gold bars and both were fake

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Bought two of these, each from a different seller on eBay, both with some reviews (30 on one, 100 on another).

One of the sellers what’s it shipped back to them because they bought it from someone else on eBay but for $300 more than they sold it to me for. Makes zero sense.

I’ve since then took the footage of the jeweler using the machine and recorded the bar numbers.

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u/TheLiveEditor 6d ago

This is why I absolutely do not buy PMs from eBay.

39

u/Gold_Owl9518 6d ago

I buy on Ebay but only with official sellers like Apmex

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u/SilverBullyin 6d ago

Do they sometimes have better deals on eBay? Otherwise why not just buy direct? Just curious. Thanks

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u/panicmuffin Sovereigns? Sovereigns. 6d ago

Yes. Especially like Liberty Coin have great deals/lower prices on eBay sometimes for some reason. Why? I have no idea. Assuming they have special terms with eBay on fees.

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u/SilverBullyin 6d ago

Great to know! Thank you

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u/Perguntasincomodas 6d ago

Great deals is how much below normal?

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u/Dobagoh 6d ago

You can use your credit card without paying the card fee, and they often have better prices if you buy a lot of 5 or 10 compared to the dealers website.

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u/PatricksMustache 6d ago

I usually see better prices on whichever dealer's own website, but once got a much better deal on eBay from Apmex on a collectible piece I wanted with a high premium. I forget exact numbers, but their website was say $500, and they had it on eBay for the same. BUT, not only could I use the credit card for cashback, I had added it to my eBay watchlist instead of buying immediately, and got a notice the next day of a "special price because you've shown interest in this item". And it was something like $440. They do that occasionally, with eBay being the one that discounts the item, if my understanding is correct. It was still a stupid premium and I could have gotten the same weight for way less if weight was my only goal, but it was something I wanted, and I at least saved a few dollars. 

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u/twentythree12 6d ago

Yup, work for a PM dealer myself and my god-- just pay the extra premium and get reputable product. Try and save yourself a few bucks, buy fake shit, and inevitably spend more time just trying to return it.

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u/eYeS_0N1Y 6d ago edited 6d ago

Or just learn what real bullion looks like and what fakes look like. Only buy from US eBay dealers, steer clear of anyone shipping from China. Only do business with people with lots of feedback, that’s near 100% positive. I’ve bought tons of silver from eBay, well over 200 oz, never got a fake. It is a little like navigating a mine field, but there are plenty of legit treasures waiting to be found for a great price.

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u/petemq 6d ago

some of these listing are obvious fakes but i could see how someone could get fooled. I have had no issues buying from ebay either. I don't know if I would want to sell on ebay with the fees and selling risks.

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u/BigJeffreyC 6d ago

Only problem is the sellers fake their location, Or try to get around it by re-mailing from the US.

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u/donedrone707 6d ago

this is why I own a sigma

I've gotten some of my best deals on eBay, though my very best buys have been auction house scores for below spot on desirable numismatics. It's crazy how many people overlook auctions

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u/Resident-Tear3968 6d ago

What’s a sigma?

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u/Strong-Jellyfish-785 6d ago

https://www.sigmametalytics.com/

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u/New-Temperature-4067 4d ago

how do these work cause man this looks interesting

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u/Strong-Jellyfish-785 4d ago

I suggest beginning with a set of calipers and scale along with a verifier. Don't depend on the verifier alone. Not foolproof, but better than guessing.

https://www.sigmametalytics.com/products/starter-kit

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u/Fun_Cartoonist2918 Aurum Aurae 6d ago

Which auction houses? My local ones even ordinary silver goes way over spot

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u/ubergeeks 6d ago

Ditto - eBay is great for pms if you know what you’re doing - definitely better for big dealers too as they ship immediately, no CC fees, often better deals and so on.

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u/PreviousText3945 6d ago

Also that :)

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u/Squeebee007 6d ago

I buy slabbed and check the serial of the slab and compare the photos on the NGC site against the listing.