Ebay Close Ebay Bucks Program For Bullion Purchases

Posted by admin on Friday, September 23rd, 2011

EBay is one of the first places that many collectors and investors visit today. It is accessible, easy to use, and can provide buyers with real bargains. Coin sales through eBay have rocketed over the last couple of years as more people have entered the market with prices of gold and silver in a bull market.

Ebay have rewarded its members for purchasing items from ebay.com by awarding eBay Bucks to purchasers, which can then be used as currency to make further purchases. Enrolment in the program is free – though limited to US and Canadian residents – as is ongoing participation.

The payment rate is an attractive 2%, and is awarded in the form of a quarterly certificate which is received by the eBay Bucks member within 15 days of the end of a quarter. The member then has 30 days in which to spend his earned eBay Bucks.

Many coin collectors have amassed enough reward to make further purchases of coins to add to their collection, and this has provided the avid coin collector who purchases through eBay with added incentive to do so.

So, with such a great incentive scheme in place, how has eBay managed to upset coin collectors and buyers?

Well, eBay has recently announced that is dispensing with Ebay Bucks for purchases from the Bullion category within coins and paper money, and that this change is to become effective from October 1st. In other words, not only is eBay removing the eBucks incentive for purchases from this sector, but it is also removing the option to use eBucks amassed during the second quarter to buy bullion products.

As one disgruntled eBayer said on the cointalk forum:

“that sucks……i racked up 53.95 so far this quarter off of silver purchases, and my next ebay bucks shows up the 3rd….how convenient”.

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