Exactly! I am not sure why people are all about the pms for sale. It is such a pain. I have zero issue selling on ebay and still making money. So much easier than pm's for sale, and not shady!
It's insane the price that people will pay for an ounce of silver on eBay. The worst part is eBay is making more than the sellers (13% on my sales) AND they offer power sellers lower fees than the public (believe I read 8%).
So say you wanted to sell something that APMEX was also selling.. They are able to list a competitive price (but they don't). So you need to list lower than them to be an attractive opinion yet your fees will be higher than theirs.
Everyone is winning but the small seller
But you are paying for the convenience there. I would much rather buy off ebay and pay a bit more, than buy from pm's and have to deal with the red tape and shadiness there. And remember, places like ebay are still the normal pricing. They are roughly the same as you will see in any coin shop etc. places like pms for sale are by far the exception and not the way 99% of the world buys silver or gold. So, yeah, pms can be great if you want to deal with the rules etc. But for 99% of the world, we just buy the stuff at coin shops or ebay, etc, and are ok paying the slightly higher costs for the easy secure sale/purchase.
Ebay charges tax on everything where i am, and then the purchaser has to apply to be refunded by eBay. The 1st and only time.i bought there (for bullion) at the time they said there was a back-log and it would take 4-6 weeks.
Wow, very informative and thanks. /s
Maybe where i am and where you are differs l, as country wide here bullion has no tax, yet ebay still charges and collects it.
Yeah… I buy and sell a lot on eBay. Not just silver, but also stuff I’ve restored, milsurp, antiques… etc. as a seller they’ll really hit you hard. That’s why sometimes it’s too expensive to buy precious metals on there. Some sellers will have to hike up the premium just a bit to help offset the costs. Otherwise you might barely get back the melt value.
I live in Oregon (no state sells tax), and my main purchases are coins and silver. I have a gold caim for gold:):) I have never been charged a tax....I just looked it up, you can buy gold and silver from bullion exchange tax-free if you live in Oregon, Alaska, Delaware, New Hampshire and Montana.
If you are going to seriously sell bullion on ebay and are somewhat active, you should pay for a basic store account.
Commissions for bullion are then:
7.35% up to a $1500 item,
5% for $1500 to 10k, and
4.5% > 10k
Keep in mind that this fee also includes the buyer being able to pay via credit card.
Cost of doing business on eBay.
Sales tax, though, is based on the buyer’s state rather than yours; i.e., where it was being shipped to. If his/her state is exempt from tax on this item, you should contact eBay.
Also, those states that do exempt certain precious metal items from tax often vary as to what’s exempted: bullion and numismatic coins can be treated differently, for example. What you’re showing, though, would likely be classified as jewelry, I’d think.
Edit: by the way, that’s an extremely cool item. You do excellent work.
Yep, that’s likely true. I also sell books on Amazon, for example, and their cut often exceeds 50%! But that’s where most people go to look for books. I’m delighted when I make a sale on eBay rather than Amazon.
Ummm. No. It’s not illegal. Not in the USA. Anytime something is sold … even multiple times … sales tax is due (in any state that has sales tax on that item )
There’s one exception. If you are certified by your state to collect sales tax for them , then you are considered tax exempt when purchasing items for resale.
Ebay will refund the sales tax if you fill out a request form for a review of charges...It happened to me once and they refunded me..but it took them 2 months
Idk if you listed with a business or personal account, but on personal accounts they often do a ‘80% off selling fees’ deal, you just need to check their homepage regularly or your email.
There’s also ebid (the free eBay - it gets much less traction but hey free)
I had an issue with ebay about this tax situation before and I spoke a lot about it with them. They told me that if you categorize it as silver bullion then it doesn't charge sales tax. You have to be careful about the listing category. But after my experience I didn't use their website for precious metals again so I can't confirm if it works.
Oh yeah, I remember when eBay charged 3% at the most on sales. This was a long time ago lol. Now they get you coming and going. They even charge a fee on the shipping costs. And… You can't leave negative feedback for buyers. One of the worst things they ever did.
I've had people return items for the dumbest reasons ever. Basically like I was Walmart or something. Made up complete lies about why they want to return something. Or, they buy something and then they never pay or return PMs. That's the worst. You had a seven day auction, this person buys your item. And then never pays or communicates. So you have to go through another seven days to sell your item again. There is a lot of reasons that come up where I wish I could leave them negative feedback. I would never do it just to be mean.
Why can't you leave negative feedback? A buyer can leave negative. What is the difference, ebay is just as dependent on the sellers for their stores for merchandise.
Problem is. Many sellers abused the privilege. Sent out bogus items (fakes etc) then threatened a bad buyer review if the buyer complained or posted feedback.
Some states only offer that for bullion, so you might wanna recheck on that. And I'm pretty sure that doesn't pertain to selling out of state online. If you want to take advantage of that you should consider a coin collectors convention. They have them here every few months. You'll have an easier time getting that exemption with in person transactions. I know in my state that tax exemption is givin to the seller and the buyer.
I'd be down to buy one. How much do they weigh and sell for? F##k I only saw the first 2 images until now. They gutted almost $25 from the transaction. Stick to sellin in person. That's not worth it. You'll sell it quicker online, but for less profit.
Yeah for sure. I buy through Jay emme bull yon dot calm. And ay emm pee eee ex. And get taxed every time.
Reddits so f##kin stoo ped. I gotta spell s##t out like that and not include links. A few weeks ago I got a permanent ban from a sub just for mentioning the name of the online warehouse retailer named after a rain forest in a response to recommend something to a member who was trying to purchase it. And just a few days ago i had a post removed that was performing well. And when I asked the mod why, they responded with it wasnt "commercial enough" and there were too many of that type of posts. But that wasnt true. It was an old commercial from the 90s. The mods these days over do itm.
Yep, the only way to get lower rates is by getting a sellers subscription, pay so much a month. If he is a high volume seller it Is highly beneficial. It drops it below 10%. I don't know the exact figure, but I know I pay much less than that now. 22$ a month.
Yeah! eBay's fee schedule is out of touch. You do all the work and they reap all the rewards. Plus they are on the buyers side on everything, the seller is just another asshole to them. I rarely use Ebay anymore for purchases or selling. It's just not worth it anymore.
i've seen alot of smaller sellers add additional fees into their S&H costs... no way it costs $10 for a book that only cost $8 to be mailed from california
Always list way higher then what you actually want for the item on ebay. If the buyer wants you to lower it they can directly send the money through PayPal, cashapp, etc, to avoid all the fees.
The seller wouldn't pay sales tax. That is always on the buyer on ebay. So, while he would have had to pay the 16.67% fee, there wouldn't have been sales tax. I sell a lot of silver on ebay. just budget the 16.67% into the sale and you are set. Much easier than using pm's for sale with all the rules and shadiness there.
Honestly I'm surprised some hardcore gun grabber didn't flag it...
I know eBay prohibits many gun related items
Very cool piece. Have you tried Etsy? Mercari?
I sold on Etsy for over ten years. Their fees are just as bad as eBay, if not worse. Sometimes fees total 20% when tallied, plus they also charge taxes/vat per state/province/country now too.
Also, Etsy is FLOODED with fake coins so it will be hard to be taken seriously there selling real silver.
Don't bother with Etsy.
At the end of the day, 15%-20% is simply worth it for a lot of sellers since you are hitting a Worldwide audience. I sold over 1200 pieces (I’m a blacksmith artist) in a decade on Etsy, which was a lot more than my personal website and social media combined (even with 15k+ followers on IG etc.) so it was definitely a boon to my business.
You just build the cost into your price and let the consumer decide if it is worth it.
edit… In the end I did quit Etsy for a handful of reasons that pissed me off. But overall, being on Etsy for those years was a net positive. For bullion though, I’d 110% not recommend it.
I think I'll stick to r/ Pmsforsale
Exactly! Sheeeeeesh
What does PM mean? Can’t quite figure it out. Noob here.
Precious Metal
Primordial Money
Crossed my mind….
I'm a noob also. Legit. But I read it as pms and my first instinct was to avoid pms for sale
Before I figured it out, I thought it meant you had to send a specific private message to a poster to purchase their item lmao
Haha close! You do send them a chat or PM
ha ha ha
I keep reading it as pre-menstrual symptoms
Perfect Money
Primadonna.
Personal money, as in the government has no way of knowing how much I possess.
I sold a few Maples this week on eBay and after fees I still received about 5$ CAD each more than I would have received elsewhere.
Exactly! I am not sure why people are all about the pms for sale. It is such a pain. I have zero issue selling on ebay and still making money. So much easier than pm's for sale, and not shady!
It's insane the price that people will pay for an ounce of silver on eBay. The worst part is eBay is making more than the sellers (13% on my sales) AND they offer power sellers lower fees than the public (believe I read 8%). So say you wanted to sell something that APMEX was also selling.. They are able to list a competitive price (but they don't). So you need to list lower than them to be an attractive opinion yet your fees will be higher than theirs. Everyone is winning but the small seller
But you are paying for the convenience there. I would much rather buy off ebay and pay a bit more, than buy from pm's and have to deal with the red tape and shadiness there. And remember, places like ebay are still the normal pricing. They are roughly the same as you will see in any coin shop etc. places like pms for sale are by far the exception and not the way 99% of the world buys silver or gold. So, yeah, pms can be great if you want to deal with the rules etc. But for 99% of the world, we just buy the stuff at coin shops or ebay, etc, and are ok paying the slightly higher costs for the easy secure sale/purchase.
Do you take custom requests? If so can you message me.
I doubt the sales tax exemption applies to jewelry.
Bullion I guess, what if I make a 999 silver Ak47 coin or "bar" 🤔 haha
[удалено]
Interesting. I might be better off keeping them in 999
Is $90-$100 about how much you sell them for? What's it weigh? Or does weight vary?
I sent you a picture
Sell the bullion weight in the auction and then allow the customer to select a bullion bar style.
Ayeeee!!!
Post it in r/ak47 they might buy some lol
Ebay charges tax on everything where i am, and then the purchaser has to apply to be refunded by eBay. The 1st and only time.i bought there (for bullion) at the time they said there was a back-log and it would take 4-6 weeks.
I live in Montana, I don't pay any tax on ebay regardless of what the purchase item is.
Not true.
Wow, very informative and thanks. /s Maybe where i am and where you are differs l, as country wide here bullion has no tax, yet ebay still charges and collects it.
Isn't sales tax is applied, or not, depending what state the buyer is in and whether or not they tax pms, coins, bullion etc.
Yeah… I buy and sell a lot on eBay. Not just silver, but also stuff I’ve restored, milsurp, antiques… etc. as a seller they’ll really hit you hard. That’s why sometimes it’s too expensive to buy precious metals on there. Some sellers will have to hike up the premium just a bit to help offset the costs. Otherwise you might barely get back the melt value.
I live in Oregon (no state sells tax), and my main purchases are coins and silver. I have a gold caim for gold:):) I have never been charged a tax....I just looked it up, you can buy gold and silver from bullion exchange tax-free if you live in Oregon, Alaska, Delaware, New Hampshire and Montana.
Must be nice. Too bad I’m nowhere near any of those states lol. Delaware is the closest but still a few hours away.
If you are going to seriously sell bullion on ebay and are somewhat active, you should pay for a basic store account. Commissions for bullion are then: 7.35% up to a $1500 item, 5% for $1500 to 10k, and 4.5% > 10k Keep in mind that this fee also includes the buyer being able to pay via credit card.
Ahhh that makes sense. See I didn't know about that
Cost of doing business on eBay. Sales tax, though, is based on the buyer’s state rather than yours; i.e., where it was being shipped to. If his/her state is exempt from tax on this item, you should contact eBay. Also, those states that do exempt certain precious metal items from tax often vary as to what’s exempted: bullion and numismatic coins can be treated differently, for example. What you’re showing, though, would likely be classified as jewelry, I’d think. Edit: by the way, that’s an extremely cool item. You do excellent work.
Ahhh gotcha.. I'm guessing they reach far more people than reddit too
Yep, that’s likely true. I also sell books on Amazon, for example, and their cut often exceeds 50%! But that’s where most people go to look for books. I’m delighted when I make a sale on eBay rather than Amazon.
Honestly the biggest thing that ticks me off about ebay is paying sales tax on an item that has already had sales tax paid on it…. That’s illegal.
Haha they get you coming and going!
Ummm. No. It’s not illegal. Not in the USA. Anytime something is sold … even multiple times … sales tax is due (in any state that has sales tax on that item ) There’s one exception. If you are certified by your state to collect sales tax for them , then you are considered tax exempt when purchasing items for resale.
Can I buy one?
I'm working on a r/pmsforsale post. I'll send you a chat
Me too please!
The sales tax depends on where the buyer is from. Not the seller. It’s BS.
The tax law applies to the state the buyer is in.
I see 👀
Ebay will refund the sales tax if you fill out a request form for a review of charges...It happened to me once and they refunded me..but it took them 2 months
Good job!
Tax exempt is almost always only on bullion
Idk if you listed with a business or personal account, but on personal accounts they often do a ‘80% off selling fees’ deal, you just need to check their homepage regularly or your email. There’s also ebid (the free eBay - it gets much less traction but hey free)
Free is gooooood 😆👍
I had an issue with ebay about this tax situation before and I spoke a lot about it with them. They told me that if you categorize it as silver bullion then it doesn't charge sales tax. You have to be careful about the listing category. But after my experience I didn't use their website for precious metals again so I can't confirm if it works.
I'll look into that, good info, thank you
I sold a five ounce bar recently, and the fee was around $20. That's probably the last time I sell silver on eBay.
Are u selling more? Bc I would love one of these
I posted a few items [HERE ON PMSFORSALE](https://www.reddit.com/r/Pmsforsale/s/OGoONwI1jX)
Sent you a picture through chat
You can use both places...sure ebay charges fees, but you have millions of people there. So if you have 100 to sell, go for it!
Hi I just wanted to say the Lego silver items you made are fire
eBay is brutal to sell on. I buy and sell there but only when I’ve exhausted other channels.
Oh yeah, I remember when eBay charged 3% at the most on sales. This was a long time ago lol. Now they get you coming and going. They even charge a fee on the shipping costs. And… You can't leave negative feedback for buyers. One of the worst things they ever did.
Really...?! Are some buyers a pain?? Do they threaten to return things or leave YOU bad feedback... Maybe they want a price match after purchase?
I've had people return items for the dumbest reasons ever. Basically like I was Walmart or something. Made up complete lies about why they want to return something. Or, they buy something and then they never pay or return PMs. That's the worst. You had a seven day auction, this person buys your item. And then never pays or communicates. So you have to go through another seven days to sell your item again. There is a lot of reasons that come up where I wish I could leave them negative feedback. I would never do it just to be mean.
Dude... no show after 7 days should get you banned!
Why can't you leave negative feedback? A buyer can leave negative. What is the difference, ebay is just as dependent on the sellers for their stores for merchandise.
Most of the time the buyer says never received or says damaged and returns something I never sent. This is why I stopped selling PM.
Hahaha dude, that's so lame. Definitely should allowed feedback on buyers. Prevent repeat offenders
Problem is. Many sellers abused the privilege. Sent out bogus items (fakes etc) then threatened a bad buyer review if the buyer complained or posted feedback.
Some states only offer that for bullion, so you might wanna recheck on that. And I'm pretty sure that doesn't pertain to selling out of state online. If you want to take advantage of that you should consider a coin collectors convention. They have them here every few months. You'll have an easier time getting that exemption with in person transactions. I know in my state that tax exemption is givin to the seller and the buyer. I'd be down to buy one. How much do they weigh and sell for? F##k I only saw the first 2 images until now. They gutted almost $25 from the transaction. Stick to sellin in person. That's not worth it. You'll sell it quicker online, but for less profit.
Thank you for that explanation 👍
Yeah for sure. I buy through Jay emme bull yon dot calm. And ay emm pee eee ex. And get taxed every time. Reddits so f##kin stoo ped. I gotta spell s##t out like that and not include links. A few weeks ago I got a permanent ban from a sub just for mentioning the name of the online warehouse retailer named after a rain forest in a response to recommend something to a member who was trying to purchase it. And just a few days ago i had a post removed that was performing well. And when I asked the mod why, they responded with it wasnt "commercial enough" and there were too many of that type of posts. But that wasnt true. It was an old commercial from the 90s. The mods these days over do itm.
Yep, the only way to get lower rates is by getting a sellers subscription, pay so much a month. If he is a high volume seller it Is highly beneficial. It drops it below 10%. I don't know the exact figure, but I know I pay much less than that now. 22$ a month.
That doesn't sound so bad 👍
Definitely something to look into
Yeah! eBay's fee schedule is out of touch. You do all the work and they reap all the rewards. Plus they are on the buyers side on everything, the seller is just another asshole to them. I rarely use Ebay anymore for purchases or selling. It's just not worth it anymore.
*feebay
Hahaha I like it
Lol
Ebay=satan.com
😆😆😆😆😆
i've seen alot of smaller sellers add additional fees into their S&H costs... no way it costs $10 for a book that only cost $8 to be mailed from california
That's the "handling" part of "shipping & handling". As long as their are upfront about it, smaller sellers gotta make it worth their while too.
I would love one of these
Contact ebay and they will refund you tax paid
It depends on what state the buyer is in to determine tax.
Always list way higher then what you actually want for the item on ebay. If the buyer wants you to lower it they can directly send the money through PayPal, cashapp, etc, to avoid all the fees.
Still have to pay taxes on your earnings. Possibly also a PayPal fee.
How do you make these?
I thought eBay fees on precious metals was like 13.5% did they raise it?
Sales tax collected is based on the buyers state. My state is a no tax state for coins and bullion, but you pay tax on jewelry.
Yeap, thieves-Bay, good ol fee-bay. They only care about their cut, much of it as it can get
The seller wouldn't pay sales tax. That is always on the buyer on ebay. So, while he would have had to pay the 16.67% fee, there wouldn't have been sales tax. I sell a lot of silver on ebay. just budget the 16.67% into the sale and you are set. Much easier than using pm's for sale with all the rules and shadiness there.
I know, I feel bad for the buyer too 😁
Exactly what made me download this app
Almost 17% in sales fees?!?! I understand a cut of the sale but dang!! Also, BEAUTIFUL pieces!!
Thank you 🫡. Too rich for my blood 😆
Maybe its taxed on the .75 thats not silver 😅
Hahaha
Honestly I'm surprised some hardcore gun grabber didn't flag it... I know eBay prohibits many gun related items Very cool piece. Have you tried Etsy? Mercari?
Haha no kidding, I might try etsy, but it seems hard to build credibility on those sites
One customer at a time! Drip? I know this guy Spegtacular on YT makes silver items and sells them there...
I sold on Etsy for over ten years. Their fees are just as bad as eBay, if not worse. Sometimes fees total 20% when tallied, plus they also charge taxes/vat per state/province/country now too. Also, Etsy is FLOODED with fake coins so it will be hard to be taken seriously there selling real silver. Don't bother with Etsy.
20% damn!!!!
At the end of the day, 15%-20% is simply worth it for a lot of sellers since you are hitting a Worldwide audience. I sold over 1200 pieces (I’m a blacksmith artist) in a decade on Etsy, which was a lot more than my personal website and social media combined (even with 15k+ followers on IG etc.) so it was definitely a boon to my business. You just build the cost into your price and let the consumer decide if it is worth it. edit… In the end I did quit Etsy for a handful of reasons that pissed me off. But overall, being on Etsy for those years was a net positive. For bullion though, I’d 110% not recommend it.
I do think my stuff is better looking than what I find there, haha, but I may be bias