You're looking at gold and silver coins on eBay. The prices seem reasonable. The seller has good feedback. But you're wondering: is this legitimate, or am I about to get burned?
The short answer: buying coins on eBay can be safe if you know what to look for. But it comes with risks that don't exist when buying from established coin dealers.
The Biggest Risk: Counterfeit Coins
Counterfeit coins are the primary danger on eBay. Chinese manufacturers produce sophisticated fakes of American Gold Eagles, Silver Eagles, and rare Morgan dollars that can fool casual buyers.
These aren't obvious replicas. They match weights, pass basic magnet tests, and look convincing in photos. Some fakes even fool collectors without seeing them in hand.
The problem is that once you realize a coin is fake, you're fighting through eBay's dispute system to recover your money. That process takes time and isn't guaranteed.
Misgraded coins are everywhere. Sellers use strategic lighting and angles to hide flaws. You might pay gem prices for coins that are cleaned or secretly damaged.
Cleaned or altered coins lose most of their numismatic value, but sellers don't always disclose this. That “pristine” Morgan dollar might have been tampered with, cutting its worth in half.
Shipping damage happens. Coins arrive scratched or dented if they are not packaged correctly.
If you're buying coins online through eBay, minimize risk by following these rules.
Buy only certified coins for valuable purchases. PCGS and NGC grading services authenticate coins and seal them in tamper-evident holders. This third-party verification protects against counterfeits and grading disputes.
Check seller feedback carefully. Look for sellers with thousands of transactions and 99%+ ratings. Read negative reviews do they mention counterfeits or misgrading? Patterns matter.
Know what coins should cost. Research current market prices before bidding. If a $2,000 coin is listed for $800, something's wrong.
Why Established Dealers Are Different
When you buy gold bullion or rare coins from established dealers like Big Apple Coins, you're working with numismatists who stake their reputation on every sale.
We don't list coins we haven't personally examined and verified. We don't grade coins optimistically to justify higher prices. We use professional testing equipment to authenticate bullion and reference population reports for rare coins.
At our 47th Street Diamond District location, you examine coins in person before buying. You ask questions. You see exactly what you're getting. For online purchases through our website, we provide accurate photos and honest descriptions and we stand behind every sale.
At our eBay store, we have 100% positive feedback and almost twenty thousand transactions. If something's wrong with a coin we sold you, we make it right immediately. No dispute process. No wondering if the seller will respond. High-end numismatics require customers to “buy the seller” and honesty is essential.
Big Apple Coins | 55 W 47th Street, Suite 430 | (212) 321-0073 | Buy gold and silver bullion online with authentication guarantee
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