closed Backyard Bullion Intermediary Sales Service for Forum Sales and Trades

[BackyardBullion]

I am very happy to announce that I am offering intermediary sales services for Silver Forum sales. 

One of the biggest issues to buying and selling on the private market is building a reputation as a buyer or seller. It is hard to do here on the forum as people are (rightly so) wary of new members without any trading feedback. 

I am able to offer Intermediary sales services to help members conduct safe and secure trades here on The Silver Forum. In fact, I have already done this a number of times @Abyss @silversky @Kritika can be my reference as to the speed and accuracy of these services (I hope 😉)

The idea is to provide a robust service to help new buyers and sellers take advantage of the trade section and build their reputation and feedback here on the forum. 

For those of you who do not know me, I have a large YouTube channel as well as a significant social media presence here and on Instagram. My reputation is core to my business and I believe this qualifies me to offer these services when needed. 

Please note - I am NOT a numismatic or rare coin specialist. I offer these services primarily as a means to verify the metal type and whether or not an item is genuine Silver of Gold. I would not feel comfortable trying to verify if a rare coin is genuine or not and I reserve the right to turn down the verification of any such items. 

These services are best suited to bullion coins and bars both Silver, Gold and Platinum. 

The Process 

Here is a quick summary of how I have (and plan to) operate these intermediary sales services. 

1) Seller and/or buyer contact me to discuss the intermediary services.

2) Seller and buyer both agree in writing (email or PM) to the terms and conditions set out below.

3) Seller sends the coins to my PO Box address.

4) I would then verify the item(s) as genuine and meet the described quality standards as required (verification is done to the best of my ability, more information on this below.)

5) Once I am satisfied the item(s) are genuine and meet the quality standard I will instruct the buyer to transfer funds to the seller.

6) Once the seller confirms that the funds are received a fee of 2% of the value of the item(s) (with a minimum fee of £25) is then split between the buyer and the seller.

7) Once the intermediary fee has been paid I can then post the item(s) out to the buyer at a postage cost of their choice. 

😎 Buyer and Seller can then leave feedback on The Silver Forum

Timeframes

The times I have done this so far have been processed and shipped out on the same day as receiving the coins and have run very smoothly, so the turnaround time is basically as fast as the buyer and seller are prepared to move. 

Fees & Postage Costs

As mentioned above my fee for these services will be 2% of the value of the sale with a minimum fee of £25. 

This fee is split between the buyer and seller equally. 

As the item(s) will essentially have to be posted twice it will cost a little more for the buyer and seller. It is up to both the buyer and seller to agree who pays for the postage from the seller to me. 

Terms and Conditions

There are some terms and conditions that would need to be agreed by both parties for me to act as an intermediary. 

1) All packages that I receive will be photographed before being opened and their opening will be filmed. This is to protect myself and the seller should there be missing items and/or any issues with the items inside the package. These photos and videos will be deleted immediately after the items have been verified as genuine. 

2) I can only verify the item(s) to the best of my knowledge and ability using (but not limited to) the following tests where appropriate: Measuring coin specifications, Width, Diameter, Weight etc. Magnet test, Ping test and Specific gravity tests. Not all of these test will be required and some only in the event that an item cannot be verified by preceding tests.  

3) To test the coins the buyer and seller agree that I will have to take coins out of capsules for inspection. Upmost care will be taken handling and testing the coins but I (Backyard Bullion) cannot be held responsible for any marks/damage to the items.

4) The above tests, combined with my experience of handling silver and gold coins will provide a high degree of certainty and accuracy as the the genuine (or not) nature of an item. However they are not conclusive and I (Backyard Bullion) cannot be held responsible should an item be deemed not genuine at a later date. This point is especially pertinent with relation to older and rare coins which hold a numismatic value - I am not a numismatic coin expert and the services I offer here are based on verifying whether an item is made of a precious metal or not.

5) In the event that an item cannot be verified the seller will be responsible for any return postage as well as the 2% (min. £25) intermediary fee. 

6) Items are posted to and from myself are done so at the choice and risk of the buyer and seller respectively. I cannot be held financially responsible for lost or damaged items. Any insurance payouts for lost or damaged items can only be made once a successful claim has been made and it is the responsibility of the buyer and/or seller to select the appropriate postage and insurance values. 

7) I reserve the right to add/or amend these terms and conditions where appropriate.

So, if you are interested in these services please just drop me a PM or contact me here on this thread and we can get it sorted!

 

 

[MickD]

Think it's a really good idea @BackyardBullion.  I would be a little cautious/paranoid about selling something on the Forum that I believe is genuine only for it to turn out to be fake.  Will certainly consider using your service in the future.

[Pete]

This is a very good offer to those who need it and a credit to @BackyardBullion for providing this invaluable service to the forum.

[MintageSeller]

I think it would be amazing if you could do this for trades as well. 

[BackyardBullion]

5 hours ago, MintageSeller said:

I think it would be amazing if you could do this for trades as well. 

I would be more than happy to do this for trades too, just adds another layer of postage, but more than happy to do it.

[KitboyE17]

With a £25 minimum service fee this is a costly service that would see this only being practical for high value/volume trades. Considering that some new forum members only start off by dipping their feet into the water by trading on lower value items i.e. 1oz silver rounds/coins they will not see any ROI and it’s probably these members who would benefit from the service a great deal.

[Gildeon]

On 18/11/2018 at 10:59, KitboyE17 said:

With a £25 minimum service fee this is a costly service that would see this only being practical for high value/volume trades. Considering that some new forum members only start off by dipping their feet into the water by trading on lower value items i.e. 1oz silver rounds/coins they will not see any ROI and it’s probably these members who would benefit from the service a great deal.

I suppose if someone wants a couple of silver rounds he may take the risk and no need intermediary service. 

[johnnagle]

On 30/10/2018 at 15:33, BackyardBullion said:

I am very happy to announce that I am offering intermediary sales services for Silver Forum sales. 

One of the biggest issues to buying and selling on the private market is building a reputation as a buyer or seller. It is hard to do here on the forum as people are (rightly so) wary of new members without any trading feedback. 

I am able to offer Intermediary sales services to help members conduct safe and secure trades here on The Silver Forum. In fact, I have already done this a number of times @Abyss @silversky @Kritika can be my reference as to the speed and accuracy of these services (I hope 😉)

The idea is to provide a robust service to help new buyers and sellers take advantage of the trade section and build their reputation and feedback here on the forum. 

For those of you who do not know me, I have a large YouTube channel as well as a significant social media presence here and on Instagram. My reputation is core to my business and I believe this qualifies me to offer these services when needed. 

Please note - I am NOT a numismatic or rare coin specialist. I offer these services primarily as a means to verify the metal type and whether or not an item is genuine Silver of Gold. I would not feel comfortable trying to verify if a rare coin is genuine or not and I reserve the right to turn down the verification of any such items. 

These services are best suited to bullion coins and bars both Silver, Gold and Platinum. 

The Process 

Here is a quick summary of how I have (and plan to) operate these intermediary sales services. 

1) Seller and/or buyer contact me to discuss the intermediary services.

2) Seller and buyer both agree in writing (email or PM) to the terms and conditions set out below.

3) Seller sends the coins to my PO Box address.

4) I would then verify the item(s) as genuine and meet the described quality standards as required (verification is done to the best of my ability, more information on this below.)

5) Once I am satisfied the item(s) are genuine and meet the quality standard I will instruct the buyer to transfer funds to the seller.

6) Once the seller confirms that the funds are received a fee of 2% of the value of the item(s) (with a minimum fee of £25) is then split between the buyer and the seller.

7) Once the intermediary fee has been paid I can then post the item(s) out to the buyer at a postage cost of their choice. 

😎 Buyer and Seller can then leave feedback on The Silver Forum

Timeframes

The times I have done this so far have been processed and shipped out on the same day as receiving the coins and have run very smoothly, so the turnaround time is basically as fast as the buyer and seller are prepared to move. 

Fees & Postage Costs

As mentioned above my fee for these services will be 2% of the value of the sale with a minimum fee of £25. 

This fee is split between the buyer and seller equally. 

As the item(s) will essentially have to be posted twice it will cost a little more for the buyer and seller. It is up to both the buyer and seller to agree who pays for the postage from the seller to me. 

Terms and Conditions

There are some terms and conditions that would need to be agreed by both parties for me to act as an intermediary. 

1) All packages that I receive will be photographed before being opened and their opening will be filmed. This is to protect myself and the seller should there be missing items and/or any issues with the items inside the package. These photos and videos will be deleted immediately after the items have been verified as genuine. 

2) I can only verify the item(s) to the best of my knowledge and ability using (but not limited to) the following tests where appropriate: Measuring coin specifications, Width, Diameter, Weight etc. Magnet test, Ping test and Specific gravity tests. Not all of these test will be required and some only in the event that an item cannot be verified by preceding tests.  

3) To test the coins the buyer and seller agree that I will have to take coins out of capsules for inspection. Upmost care will be taken handling and testing the coins but I (Backyard Bullion) cannot be held responsible for any marks/damage to the items.

4) The above tests, combined with my experience of handling silver and gold coins will provide a high degree of certainty and accuracy as the the genuine (or not) nature of an item. However they are not conclusive and I (Backyard Bullion) cannot be held responsible should an item be deemed not genuine at a later date. This point is especially pertinent with relation to older and rare coins which hold a numismatic value - I am not a numismatic coin expert and the services I offer here are based on verifying whether an item is made of a precious metal or not.

5) In the event that an item cannot be verified the seller will be responsible for any return postage as well as the 2% (min. £25) intermediary fee. 

6) Items are posted to and from myself are done so at the choice and risk of the buyer and seller respectively. I cannot be held financially responsible for lost or damaged items. Any insurance payouts for lost or damaged items can only be made once a successful claim has been made and it is the responsibility of the buyer and/or seller to select the appropriate postage and insurance values. 

7) I reserve the right to add/or amend these terms and conditions where appropriate.

So, if you are interested in these services please just drop me a PM or contact me here on this thread and we can get it sorted!

 

 

I would be interested in this service in the new year both for buying and selling my silver bullion

[KitboyE17]

Minimum £25 fee makes this service very unattractive to any nervous new members who are considering making a small purchase as they venture out into the PM markets. Perhaps consider lower and scalable fees? 

[Pete]

5 minutes ago, KitboyE17 said:

Minimum £25 fee makes this service very unattractive to any nervous new members who are considering making a small purchase as they venture out into the PM markets. Perhaps consider lower and scalable fees? 

Somehow I don't think this service is aimed at helping newbies buying or selling a silver ounce - more for half sovereigns upwards in value where the risk is higher.
The cost to the buyer and the seller is only 1% with a minimum of £12.50 each so not £25 to any one person.

Would it not be more cost effective for newbies / low value transactions to use PayPal Goods & Services with the added benefit of PP protection ?

[AuricGoldfinger]

I don’t think its unreasonable to pay 1% each i think its a fair and trustworthy way of making big purchases. A monster box has been recently listed by a new member and @BackyardBullion has offered his services - im not currently planning to add to my silver just yet but the savings against buying from a dealer alone would easily cover the 1%. Well worth the piece of mind for all parties

[BackyardBullion]

35 minutes ago, shortstack68 said:

People want bullion at the lowest price possible, you'll be adding 2% onto any sale

Not everyone wants the cheapest possible, of them that might mean added risk. I offer a service, it costs 2% split between the buyer and the seller unless otherwise agreed. Not really sure what the problem is with offering this.

28 minutes ago, KitboyE17 said:

Minimum £25 fee makes this service very unattractive to any nervous new members who are considering making a small purchase as they venture out into the PM markets. Perhaps consider lower and scalable fees? 

This is aimed at high value transactions not the small ones. The time required is a factor and I have priced accordingly. I do not intend to offer a scalable service for small transactions. 2% of £20 is 20p, not working for nothing here.

 

8 minutes ago, Pete said:

Would it not be more cost effective for newbies / low value transactions to use PayPal Goods & Services with the added benefit of PP protection ?

Yes indeed, we said.

 

3 minutes ago, AuricGoldfinger said:

I don’t think its unreasonable to pay 1% each i think its a fair and trustworthy way of making big purchases. A monster box has been recently listed by a new member and @BackyardBullion has offered his services - im not currently planning to add to my silver just yet but the savings against buying from a dealer alone would easily cover the 1%. Well worth the piece of mind for all parties

Thanks for the feedback, this is what the overwhelming majority of people have said to me, and also the feedback from people who have used this service.

[MickD]

Think it's a good and fairly priced service personally.  No-one's forcing anyone to use it.

[BackyardBullion]

3 minutes ago, shortstack68 said:

Very true, but if you can't trust a dealer, who can you trust? So let's ask BYB, do you test every coin that comes from the European mint for example or do you trust what they have sold you? Same would apply to any dealer anyone buys from, you either trust them or leave them alone, remember, its their business at the end of the day, it takes years to build something and to throw in a fake $14 piece of silver would be crazy, their business would be down the pan very quickly.

Also, i don't know the newbie on here selling a monster box, but i wouldn't be a buyer unless he'd been active and had trades, who in their right mind is going to buy 8k worth of silver from a newbie

I do not test every coin that comes from EU Mint - this is true, it is done on trust - am I not in that category of trust? Dealing in bullion is literally my business at the moment considering I have quit my day job to pursue this line of work! 

What exactly is wrong with buying from a newbie if it is proved to be genuine? If that newbie sends me the silver, I verify it and someone buys it does that mean they are not in their right mind? Pretty odd way of looking at things IMO. 

[AuricGoldfinger]

6 minutes ago, shortstack68 said:

 who in their right mind is going to buy 8k worth of silver from a newbie

Correct.This is one of the reasons @BackyardBullion Is offering this service 

[BackyardBullion]

1 minute ago, shortstack68 said:

Isn' this what the forum is about, helping people determine if something is genuine, there is enough members here to help determine something without having to be charged for it. Lets say for example someone wants info about a numismatic coin, do i help them in that area but ask for a pound for my time or do i register on here to help other people on their way though stacking or collecting........That BYB is where i have the problem, in order to help i will readily offer any knowledge i have free of charge.......

Nothing against you trying to make money, i just thought a forum was about freely helping people however they required it without charging

I wholeheartedly agree with you and at the same time completely disagree with you. 

The forum IS and will always be a great free resource for people to get information, you, me and countless others contribute to this a lot. 

But where my service shines is to protect that very same community from scammers and un-scrupulous people who come on the forum with bad intentions. 

As many other people have pointed out, this service is not compulsory and if you don't like it don't use it, simple as that! 

If you want to set up a free service doing exactly the same thing, be my guest - it is not as easy as you think and there is a considerable amount of responsibility and risk which is in my opinion worth being compensated for. 

[Roy]

I see BYB's service as an insurance policy. I like to think I'm a trusted seller but a newbie doesn't know me from Adam. When I tried to sell a 1oz Beast I offered BYB's service because most folk won't send a grand to someone they don't know. BYB has trust and is well known/easily found on the web.

I was willing to cover the cost to secure a sale.

[BackyardBullion]

2 minutes ago, shortstack68 said:

But you'd buy it from a dealer at that price for peace of mind, not from an advert from a newbie with 3 posts, then add the 2% and it would be far easier to be buying from a dealer then taking into account of 2x postage of that weight

If you don't like the service, don't use it. 

What happened to the common courtesy of openly criticising peoples trade posts? Not very forum like is it. 

[BackyardBullion]

1 minute ago, shortstack68 said:

Didn't,t BYB say he won't do just one coin or 1oz of silver?

I will offer this service for any purchase, but my minimum fee is £25

4 minutes ago, shortstack68 said:

I'd call it constructive comments, you can rub it up and down however you want it too look, i'm just being open and honest with my comments. So i'll ask how do you know that every piece of silver from the EU mint is Kosher? Because if newbies are going to jump onboard then they'll also need to know surely.

 

I think i make valid points........You may disagree however

They come across as pretty confrontational to be honest, perhaps it is just a case of lost in translation from reading text. 

But I believe I am offering a well priced and fair service. 

[Kookaburracollector]

I think the service offered is superb and more than reasonable at the price offered, I bet there are many reading this that wouldn’t go through the hassle BYB has to go through for £50 let alone a minimum of £25.

As of these newbies charging in after just joining, I think they are being quite rude. A forum is a place where members share opinions / ideas and gather knowledge over time. These people have contributed NOTHING to date yet want to come in a get a free market place for their wares.

Each to there own, but I think to criticise the service offered by BYB in any way is unfair and shows a complete lack of class.

Take it or leave it but don’t knock it.

Maybe only allow members to trade after a certain amount of feedback has been received.... earn the right to use the forum,..just a thought..

 

[Roy]

38 minutes ago, Roy said:

 When I tried to sell a 1oz Beast I offered BYB's service because most folk won't send a grand to someone they don't know. 

Keep up man!

😁

[MickD]

7 minutes ago, Kookaburracollector said:

I think the service offered is superb and more than reasonable at the price offered, I bet there are many reading this that wouldn’t go through the hassle BYB has to go through for £50 let alone a minimum of £25.

As of these newbies charging in after just joining, I think they are being quite rude. A forum is a place where members share opinions / ideas and gather knowledge over time. These people have contributed NOTHING to date yet want to come in a get a free market place for their wares.

Each to there own, but I think to criticise the service offered by BYB in any way is unfair and shows a complete lack of class.

Take it or leave it but don’t knock it.

Maybe only allow members to trade after a certain amount of feedback has been received.... earn the right to use the forum,..just a thought..

 

Well said.

[Gildeon]

2 hours ago, Kookaburracollector said:

Maybe only allow members to trade after a certain amount of feedback has been received.... earn the right to use the forum,..just a thought..

 

How exactly can you receive feedback if you don't trade...? 😁

[Kookaburracollector]

32 minutes ago, Gildeon said:

How exactly can you receive feedback if you don't trade...? 😁

Feedback = community reputation points!

[Gildeon]

Ah ok, I thought you were referring to feedback coming from transactions alone.