closed Backyard Bullion Intermediary Sales Service for Forum Sales and Trades

[Pete]

Reading some earlier comments I believe that some are heading off target.

Please correct if I am wrong.

It is easy for a current member of the Forum with little activity and zero feedback, or someone dodgy, to list for sale expensive coins or to offer to purchase coins. If a seller is worried about being paid the seller will request money up front. The buyer paying up front will worry about receiving coins pre-paid. It's all about trust but until feedback is established can you really trust an unknown?

For this reason BYB is providing an optional Escrow service to get a new seller or new buyer on the map so to speak.

If a seller is prepared to ship coins to an unknown person before receiving payment, or a buyer pay for coins before receiving them that is a personal choice. Newcomers on eBay with zero feedback listing a boxed 4 coin sovereign set would also discourage cautious buyers.

This service offered by BYB is commendable and I fully support this gesture to enhance the forum community. Over 99.9% of contributions are assisting others and all advice is free, so long may it continue. 

[watchesandwhisky]

I suggested the user used BYB service as it was highly unlikely a sale would not be made under any other circumstances.

Since we are not allowed to make unsolicited comments on sales topics i will voice my opinions here. 

New members, even members who have been around a while but have no trades - seriously posting deals asking to sell even one ounce of gold with payment upfront is crazy, trying to sell a monster box in your first forum post is just insane and either completely naive or an outright scam.

no one in a sound frame of mind is going to send you thousand of pounds, nor divulge their address to you. This is something many seem to forget - a lot of stackers value their privacy and anonymity for obvious reasons.

If you stick around, start with small trades, even sell some coins cheap as you are a "risky" buy remember..Small and steady build up to larger orders and gain trust. 

But coming on the forums and trying to sell thousands of pounds of stuff is having a laugh.

I have drifted of topic, and will say that BYB service charges are more than fair. 

 

[h103efa]

Great comments about general trading on the forum @Pete and @Madstacks

[NikolaAnne]

On 31/12/2018 at 16:14, shortstack68 said:

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

He said that the 2% on an oz of silver is about 20p - hence his Minimum charge of £25

The service is aimed at high value coins, not the silver 1oz coins.

[Murph]

On 31/12/2018 at 16:06, Roy said:

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.

Maybe easily found on the web but doesn't reveal his name or any details on his site or in messages and doesn't list a trade address so it really is still pretty anonymous.  Not a personal attack but if I'm paying for a service and sending something of considerable value to someone I'd feel much better if I knew I could contact them no matter what.

For example if something happened to BYB, God forbid, how would you go about getting your money/item back?  No listing on Companies house afaik and no name or address details.  This is fine for a private individual but I feel when you start charging for services you have to be more open to revealing more information and having a trade address.  Of course this is probably too much of an expense at the moment but then it's a catch 22 situation.

 

[11stacker]

I think this is a great idea! Not sure why all the hate.. 

[Sal]

Interested to know what service you use to insure say $5000 worth of gold coins shipped from the USA to somewhere in Europe. To my knowledge the only was to send bullion or slabbed coins with guaranteed insurance if the coins disappear is Fedex and insure the coins with a outside insurance company. Any other shipping method will ship your coins  and take your insurance money with no payment if something happens. Plus I don't know of any shipping company other than Fedex that you can request a signature confirmation when shipping form the states overseas. This service may be fine for sales in the EU I guess but shipping from the USA to anywhere else in the world gets dicey with insurance and customs.

[shortstack68]

9 minutes ago, Sal said:

Interested to know what service you use to insure say $5000 worth of gold coins shipped from the USA to somewhere in Europe. To my knowledge the only was to send bullion or slabbed coins with guaranteed insurance if the coins disappear is Fedex and insure the coins with a outside insurance company. Any other shipping method will ship your coins  and take your insurance money with no payment if something happens. Plus I don't know of any shipping company other than Fedex that you can request a signature confirmation when shipping form the states overseas. This service may be fine for sales in the EU I guess but shipping from the USA to anywhere else in the world gets dicey with insurance and customs.

Even Fedex have problems, there are rings within airports stealing packets........I think it was a few years ago that some rare hammered gold went missing from London airport shipped via fedex that was going to Baldwins for an auction, if i remember correctly one of those was a Henry VIII hammered gold coin, can't remember the full details offhand, will try and locate it

[Sal]

6 hours ago, shortstack68 said:

Even Fedex have problems, there are rings within airports stealing packets........I think it was a few years ago that some rare hammered gold went missing from London airport shipped via fedex that was going to Baldwins for an auction, if i remember correctly one of those was a Henry VIII hammered gold coin, can't remember the full details offhand, will try and locate it

Outside insurance company will insure all valuables including precious metals but no Fedex paks allowed to be used. Either a Fedex box or a equal size generic box. Must be boxed within the box. Suggested to mark the outside of the box in a unique way so one can identify whether the box has been replaced or broken into. Do not declare value or identify on a customs form anything of value inside the box. Obviously tape the box up as well.