Ebay - It's not just for amateurs anymore!

Now how would Ebay - the online flea market - and the world of precious metal investors get mentioned in the same breath. 'Cause that's where joe public...they people that buy a bit of precious metals, say an ounce of gold or a ten ounce bar of silver, actually check the action.

Now Ebay can be shocking. I've seen silver bars go for under melt. Whoops. I've also seen crazed buyers pay three times what they could just pay at any coin dealer. That's what happens when you don't check around first.

Now how do you start researching before you finger hits the bid button? Well, or course, you should check the bullion quotes. If you're bidding on coins, waltz on over to pcgs or numismedia to browse going rates on U.S. coins. (keep in mind, those quotes are often for professionally graded coins, and if that's not what you're buying - beware).

Then check the completed items. See what similar purchases have trended towards in the last few days. To check completed items, you need an EBAY ID. It's free to get one, and lots of fun!

GET YOUR EBAY ID HERE!

Make sure the shipping cost is reasonable too. I've seen 1 ounce silver bars go for melt, but then have a 6.99 shipping fee tacked on. Unless you're going to turn around and sell with the same shipping fee, it's hard to make any money that way. Of course, the seller has to charge something for shipping unless the price is already built in the bid.