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RE: Buying Gold and Silver on the Secondary Market
Aren't you concerned about the authenticity? I've heard there were some fakes being sold, not on silverstackers but still.
Aren't you concerned about the authenticity? I've heard there were some fakes being sold, not on silverstackers but still.
Yes, really good question! That's why it is important to stick with traders with a strong history. They won't blow years of trade history by selling fakes. There is also lots of good info and discussion on the site about how to spot fakes. This is another area where they are tons better than places like eBay where there are a lot of fakes.
This is indeed a big concern. Which is why I've been sticking with a couple of local sites here in Malaysia despite the premium over prices elsewhere. As with everyone else, I'd try to get the cheapest price too. But I would prioritise credibility and record over "cheapest". I've seen some videos at YouTube where people got ripped off by fake silver coins and bars they had bought at eBay. Better to be cautious and suspicious when it comes to parting with our hard-earned money.
For sure it is always better to play it safe. If you stick with members on the site with really strong feedback though, you should not have any problem. Some of those members have hundreds of trades with a 100% positive feedback rate. That's impressive!
I agree 100%, would never use eBay for precious metals. It's not like another item where you can tell right away if it's what you ordered. Thanks! I upvoted your comment but my vote is worth zero..