Buy Krugerrands on eBay

Buy Krugerrands on eBay with confidenceIf you're familiar with how to buy Krugerrands on eBay then head over to our Krugerrand Auctions. For a little detail and advice on how to proceed if you're new to Krugerrand auctions, read on. It's certainly simple to do, however like every large purchase, it pays to do your homework. A little time and research can save you a lot of headache later, where you might pay too much for that Krugerrand or worse case receive a counterfeit. To begin with, there's no substitute for experience. You may want to consider purchasing from a reputable dealer in your area. You will pay a premium, however the chances of you receiving a counterfeit are much lower when you buy from a dealer, particularly if one of their areas of expertise is the buying and selling of Krugerrands. If nothing else it's worth your time to get a price from a few so you know how the eBay auctions compete. Your next layer of protection would be to buy a coin that has been certified by a grading service. eBay has this to say about authentication and grading:

Authentication companies-
The authentication companies listed here are professional, independent evaluators. We’ve obtained a pledge from these evaluators that they will offer their services to both buyers and sellers, and that they will maintain independence from any individual party. The authenticators have pledged not to buy or sell on eBay's core site, keeping them out of competition with the buyers and sellers they are serving. They have also promised to provide eBay users with competitive prices.

The companies eBay recommends are:
Numismatic Guaranty Corporation (NGC)
Professional Coin Grading Service (PCGS)

When you buy Krugerrands that have been professionally graded you can be sure that your chances of getting a fake are minimized. An additional advantage of having a graded coin is that you can more easily sell your Krugerrand in the future, as dealers and most buyers recognize the guarantee. You may also want to look for a South African Gold Coin Exchange (SAGCE) certificate of authenticity, which usually comes with most proof Krugerrand sets. When you buy Krugerrands on eBay, sellers have to follow the Code of Conduct for Selling Coins & Paper Money on eBay, which basically says they agree not to sell a counterfeit, or copy coin. When you look at an auction, be sure to check out the following about a seller:

  • Feedback Number -Higher is better, and I wouldn't buy from someone under 98%. Be sure to read the feedback score for the last twelve months for the seller. This will give you an idea of the level of service you can expect from the seller.
  • Power Seller Status - PowerSellers must consistently sell a significant volume of items, maintain a 98% positive feedback rating and provide a high level of service to their buyers. Powersellers have a significant amount of time and effort invested in eBay, and are likely to uphold ethical standards.
  • Gold Coins Dealer - Coin dealers offer an additional level of security- since they handle gold coins regularly they are generally more adept at catching counterfeits.
  • Membership Date - The longer the seller has done business on eBay, the more likely they are to have had several transactions, which gives the online community time to provide feedback. Be wary of a new seller- particularly one with no feedback.
  • Return Policy - there needs to be a simple, clear, return policy. If there is a no returns policy, do not buy from the seller.

A few red flags you may want to watch out for:

  • Estate Sales - A few estate sales auctions have been discussed in the online coin communities as scams. Certainly there are legitimate estate sales, however exercise caution here. If nothing else you probably aren't dealing with someone particularly knowledgeable about gold, be on watch for counterfeits.
  • Silver Krugerrands - Silver Krugerrands do not officially exist. What that means is the South African mint did not stamp these coins out, and they are not official Krugerrands.
  • Extremely Low Price - The vast majority of the Krugerrand's value comes from gold. If you had an asset with a readily assessable value, would you sell it at a loss? If it's too good to be true, it probably is!

Ready to buy KrugerrandsReady to buy that Krugerrand on eBay? Check the current Gold Krugerrand Price. We also have a few dealer prices available from that link as well. Next head over and check the auctions for the Krugerrand you are looking for:

Buy Proof Gold Krugerrand
Buy 1 oz Gold Krugerrand
Buy 1/2 oz Gold Krugerrand
Buy 1/4 oz Gold Krugerrand
Buy 1/10 oz Gold Krugerrand

Place your bid and good hunting! When you win, we have a few additional tips for you. Buy Krugerrands using Paypal. eBay owns Paypal, and has a documented resolution process which can be started by visiting the PayPal Resolution Center. Also if the item is covered under Paypal Buyer Protection, there is a guarantee for up to $2000. Okay, you have your Krugerrand in your hand, what now? Well as an amateur there are a few things you can check for to make sure it's authentic. Go ahead and check the auction links above for your size of Krugerrand. This time, instead of buying a Krugerrand from an auction, you want to look at the dimensions for your coin. For each Krugerrand, we've included the dimensions for your convenience. With a ruler and a scale you can conduct a quick test of a Krugerrand's validity. Here's what you should look for:

  • Is the Krugerrand the correct size? Be sure to check diameter AND thickness. Fakes will frequently be bigger or smaller than the genuine article.
  • How about the weight? Gold is dense and heavy, and since 11/12ths of a legitimate Krugerrand is gold, make sure the weight is correct.

There's an interesting Krugerrand checker made by Fisch. Although it's expensive, it easily checks size, weight, and thickness. It also pays to visit a dealer, most are happy to look at a Krugerrand for free or a small fee and let you know if it's authentic. Finally, to be as sure as possible about the validity of the Krugerrand, you could send it off for grading at the services listed above. When you buy Krugerrands on eBay, you can get a great deal, and with some research and due diligence minimize your risk.



It’s ok to have a comment.


LOL, sure it is. Was there a question there?

Comments on this entry are closed.

{ 1 trackback }

Previous post:

Next post: