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20% Ebay coupon...how to use it to make money? Gold coins?

niceperson77 3,490 498 June 9, 2016 at 03:14 AM
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I had a ebay promo last month that gave a 20% coupon for selling $200 in items. I'm wondering what I can buy to make money?

I put (8) 1oz gold coins in my cart and proceeded to checkout - when entering the coupon it gave me a discount of $2,202.81. With cashback and ebay bucks I would get another $300 off which makes my cost per coin around $1060. The APMEX buying price for the coin is $1,273. Soooo, that means I would walk away with a profit of around $1700.

Does this sound right? Do you think Ebay will cancel the transaction with such a large discount? The fine print on the coupon doesn't say anything about a maximum discount. Should I go for broke and buy a lot more? Even with 15 coins the discount just keeps going up (~$4100).

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#2
sounds like you should buy a car. why dont you try that. sounds like a deal. maybe buy a boat.
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#3
Looks like most of the new cars require you to pay $500 deposit before actually buying the car...I doubt the remaining balance would be paid through ebay.
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#4
for pure flipping, bullion would be a good bet OR you can also find pure currency on ebay as well. I am surprised though as their coupons usually have restrictions that rule out most monetary instruments.
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#5
Quote from Dr. J View Post :
for pure flipping, bullion would be a good bet OR you can also find pure currency on ebay as well. I am surprised though as their coupons usually have restrictions that rule out most monetary instruments.
thought about currency but what I'm finding is stuff like 10 $100 bills for $1250. After 20% off I'd be making very little.

I think I'll shift about $20k into the bank account linked to Paypal and buy the cheapest APMEX 1oz coins that qualify for ebay bucks. Too bad my 8% Ebay bucks expired yesterday.

Another option that seems to work is buying $15k in coins and $5k in ebay GCs. I could save the Ebay GCs for another ebay bucks offer and buy $5k in gold then.
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#6
Quote from niceperson77 View Post :
thought about currency but what I'm finding is stuff like 10 $100 bills for $1250. After 20% off I'd be making very little.

I think I'll shift about $20k into the bank account linked to Paypal and buy the cheapest APMEX 1oz coins that qualify for ebay bucks. Too bad my 8% Ebay bucks expired yesterday.

Another option that seems to work is buying $15k in coins and $5k in ebay GCs. I could save the Ebay GCs for another ebay bucks offer and buy $5k in gold then.
I would go for broke and buy as many gold coins as possible. I have 75k limit on my credit card and it would be maxed out
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#7
I got this coupon too. Put $30k of gold in my cart and it's giving me a $6,000 off! Wow. Going to act fast on this one.

I'll also buy some ebay gift cards and use them when the 10% ebucks promo comes around.

Logistically is there any way to pay part of the transaction with a credit card and part with a bank account transfer if buying from multiple sellers or does payment need to come from only one source? I think my max credit line on a single card is $22k but I'd like to buy more than that. I have cash available in bank accounts to go all in and make a huge purchase but would prefer to get cc points..
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Last edited by namlook June 9, 2016 at 01:02 PM
#8
Is this still going on? If I sell over $200 in items will I get the 20% coupon?
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#9
Looking for an answer on this too. Is this deal still live?
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#10
Quote from namlook View Post :
I got this coupon too. Put $30k of gold in my cart and it's giving me a $6,000 off! Wow. Going to act fast on this one.

I'll also buy some ebay gift cards and use them when the 10% ebucks promo comes around.

Logistically is there any way to pay part of the transaction with a credit card and part with a bank account transfer if buying from multiple sellers or does payment need to come from only one source? I think my max credit line on a single card is $22k but I'd like to buy more than that. I have cash available in bank accounts to go all in and make a huge purchase but would prefer to get cc points..
I sent you a PM if you can take a look, thanks
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#11
This is interesting, however I'm a bit confused with the gold coin purchase.

If you purchased the gold coins, how exactly can you profit? You can't resell on ebay, since after ebay, paypal, and shipping fees, you'll be lucky to just break even.

If you tried to sell locally, I doubt anyone would want to pay top market value, especially dealers.

If APMEX is buying an ounce of gold for $1273, then why are people selling their gold on Ebay for nearly the same price? They would lose nearly $200 in fees to Ebay, opposed to selling it to APMEX. Does APMEX charge a transaction fee or something?

How do taxes affect sales/purchases?

Would this be an investment purchase to hold on for a decade or more?

Also, I believe ebay limits purchases to $15k, and if your ebay account does not normally buy/sell in volume, and you all of sudden make a large purchase, ebay will probably freeze your account. Just a warning.
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Last edited by blazin June 10, 2016 at 08:30 AM
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#12
Quote from niceperson77 View Post :
thought about currency but what I'm finding is stuff like 10 $100 bills for $1250. After 20% off I'd be making very little.

I think I'll shift about $20k into the bank account linked to Paypal and buy the cheapest APMEX 1oz coins that qualify for ebay bucks. Too bad my 8% Ebay bucks expired yesterday.

Another option that seems to work is buying $15k in coins and $5k in ebay GCs. I could save the Ebay GCs for another ebay bucks offer and buy $5k in gold then.
APMEX unfortunately has a $10k buying limit per transaction.

"Due to immediate pay requirements, each order can be a maximum of $10,000. If you would like to place an order for items totaling more than $10,000, please split the items into multiple orders."
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#13
Quote from blazin View Post :
This is interesting, however I'm a bit confused with the gold coin purchase.

If you purchased the gold coins, how exactly can you profit? You can't resell on ebay, since after ebay, paypal, and shipping fees, you'll be lucky to just break even.

If you tried to sell locally, I doubt anyone would want to pay top market value, especially dealers.

If APMEX is buying an ounce of gold for $1273, then why are people selling their gold on Ebay for nearly the same price? They would lose nearly $200 in fees to Ebay, opposed to selling it to APMEX. Does APMEX charge a transaction fee or something?

How do taxes affect sales/purchases?

Would this be an investment purchase to hold on for a decade or more?

Also, I believe ebay limits purchases to $15k, and if your ebay account does not normally buy/sell in volume, and you all of sudden make a large purchase, ebay will probably freeze your account. Just a warning.
if you buy gold at say 9% above spot price and you get 20% off the purchase price then you are buying gold at 11% below spot.

You want to sell it to a local dealer. Some places pay 98-100% of spot.

Taxes are based on state. I live in CA which does not tax gold purchases.
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#14
is this still live!
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#15
Quote from alexatie View Post :
is this still live!
It was a targeted offer via email/ebay messaging.If you were not offered the deal you can't do it.

On another note I contacted ebay and paypal and they both tell me there is no purchase limit unless your account is new or has had issues in the past with unpaid items.
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