The End Is Nigh - How FREE eBay Selling will have a big impact on The Coin Market (It Will Be Worse)

[@MrUpier]

nothing like paying taxes on things that have already had taxes payed on them

[@SilverWingnut]

with money thats already been taxed, isnt it wonderful 🤣

[@carltwigg3946]

Found the Canadian!

[@TheOnlySaneAmerican]

Yes, it's insanely greedy and misguided.

[@adyamski]

We pay the highest tax in most developed countries in the world

[@greyhound7892]

We are more civilised,relaxed because we pay the most tax to live in such a safe country

[@GL_1975]

I was waiting for the 80% ebay promotion, reduction in selling fees and then got a message saying no fees at all. Going to list a few Silver coins.

[@daviniarobbins9298]

I have never got 80%, all I ever received is 70%.

[@ianian2502]

@@daviniarobbins9298used to get 80% then about 4/5 months ago changed to 70%

[@properjob2311]

Ebay are the biggest evader of paying tax.

[@TheOnlySaneAmerican]

So you are saying that Ebay is patriotic?

[@mickeylickey123]

I have completely stopped selling on ebay here in Canada because of the fees. You have to up the price drastically if you want to make any kind of profit. I'm done selling there. I wont buy there either. I bet there will be additional fees for buyers if they stop charging sellers.

[@SilverDadKnows]

Speaking as an active seller and buyer, eBay is a great option for finding excellent silver at the best prices with free shipping, offering a wide range of deals from trusted sellers.

[@nobody00777]

I bought a fake gold bar on eBay and it took one year to get my money back from PayPal that's pathetic fraud

[@SubvertTheState]

I sell only on eBay, Im American and Ive never heard of this. This would be Earth shattering....Not kidding. I understand following all of the rules, but i only stand to gain street cred with my friends by getting put on a list for tax evasion haha.

[@davidbalfe1967]

This spells the end for overseas buyers like me. I don't buy anything from the UK anymore due to rip off charges and that total rip off called global shipping that Ebay makes a fortune from. It's gone far to expensive to buy silver or gold from the UK

[@BackyardBullion]

Sad times!

[@dane3038]

I feel like there is some form of elitist modivation behind the legal fees surrounding Bullion buying in the UK. I "feel" because I don't know enough to "think", tbh.

[@SolemnStacker]

I'm not in the UK, but the article I read said that the Buyers will end up Paying some extra fee. "However, buyers are set to face a charge. How it will be applied is yet to be determined though it will take effect early next year" the company said. If they are waiting to enact the Buyer fee, it seems like they want to Attract a lot more Buyers and Sellers over the next 3 months. Then they will hit them with the "Buyer Fee" in 2025. Sellers will have to reduce their prices to get the sales. Buyers are just going to factor that into their Max Bids, if they are going to get hit with some 13% final value buyer fee (like an Auction house).

[@Mantakev]

I have sold things on eBay and they sold for nothing. EBay then charged me a percentage of the item and post coat so it actually cost me money to send the item to the person who won it. Vintage have undermined eBay and they now have to run to catch up.

[@Prethen]

I WISH this would happen in the U.S. Selling fees make it extremely difficult to make a profit on various material that has thin margins, like bullion.

[@barnacleburrito3728]

this isn't for US sellers!? 😩

[@Silverado_UK]

People in UK like the foreign silver and I still think you will see both type of coinage on the secondary market. Interesting to see how this is going to unfold.

[@paulosullivan3472]

I still wouldnt touch ebay with a ten foot barge pole for precious metal sales. Far too easy to be scammed on there.

[@stephenyoung8429]

Agreed! Currently going through the scammer process 😢

[@andydavison6759]

Been there been scammed….another seller leaving ebay as they only look after buyers……

[@----Jay----]

I only buy sterling silverware on there. If you see legit hallmarks and the weight is accurate, it's usually safe enough. I still do a rare earth magnet test on delivery, though.

[@dane3038]

I've been scammed on ebay twice ( the red flags where there ) and ebay gave me a full refund with no hassle. Just buy from people with a good track record and never buy from China.

[@daviniarobbins9298]

I have sold about £2000 on eBay since end of March but I am just a private seller who was having a clear out of things I wasn't using. I think I am fine but if HMRC says I need to pay tax(am on benefits only) I will pay them. What annoys me though is the rich can pay someone to help them avoid paying taxes.

[@marc3006]

You only pay tax on the profit you make. If you are having a clear out then that would be a loss unless you are selling a load of items for more than you paid for them.

[@dane3038]

Taxes is one of the factors in the fall of the Roman Empire. The poor couldn't pay taxes and the rich wouldn't. Over taxing the rich has never worked because they will either legal their way out of it or just pull up steaks and repatriate.

[@harryzero1566]

I stopped selling on Ebay until they offered me free listing with only a £1 selling fee per listing..

[@wombat1184]

As a private seller in Australia on eBay, I still have to pay fees. It must only be in certain countries

[@eddysmith568]

If some one is not 100% happy they give the buyer his money back .

[@chrisgoff6544]

I get the feeling you might work for HMRC .

[@BackyardBullion]

You rumbled me. I want to report everything to HMRC so I don't go to prison for tax fraud. You caught me!

[@foxmoongaze]

@Mywonderfullife101-o5f I believe all Sovereigns, Britannia's and Royal Mint coins are CGT free as they are still classed as legal tender. I believe there is a different rule for UK coins more than 200 years old (not exactly sure, might be a little more, maybe 230 years) and they are not CGT free. Have a google......

[@p--n]

There is no lawful requirement to pay tax. Please feel free to share the clause in the 2007 Tax Act where the words obligation, mandatory, or similar synonyms appear?

[@adyamski]

​@p--n - a bloke at work, in the public sector, actually pays his tax on his payslip BUT on the same payslip gets it all returned. He somehow had a long winded challenge and won! - I need to speak to him very soon!

[@esurfrider7687]

Final value fee have definitely not changed in the USA and I doubt that will ever happen because that’s billions in revenue for eBay

[@turokforever007]

Ebay postage is a joke When I sell a big item that weighs 10kg Ebay tell me I can post it for £1.75

[@TheOnlySaneAmerican]

Is that their estimated postage or what you actually pay? I haven't sold on Ebay in 10 years because they got so greedy.

[@breakinmedia]

Ebay buyer protection can screw over sellers. Having £££ go direct into your bank or PPFF could keep things competitive for TSF.

[@devious657]

Personally I would never buy any high end gold or silver from Ebay

[@DQ940]

If eBay offered the authenticity guarantee for bullion like it does with jewellery, then I'd use it for selling. Until then I will stick face to face, too many scammers about. Simple delivery I think only protects against delivery issues not scammers on the other side making INAD claim and sending a fake back.

[@adyamski]

I can't believe Ebay have actually dropped the fees fully from the ridiculous high fees they had before - but i do believe there is a sinister motive somehow! Yeh our taxes pay for other - 'people'

[@johnlee4897]

I don't get the scaremongering over tax. Most sensible collectors stick to sovereigns and Britannia's - all CGT free and easy to prove.

[@BackyardBullion]

People feel it's their duty to avoid paying tax. That's not good, pay your taxes. Stick to sovereigns and britannias and your fine, no tax to pay.

[@TheOnlySaneAmerican]

@@BackyardBullion People wouldn't avoid paying taxes as much if they thought they were getting value from the government. But when the government lets thousands of immigrants in and gives them benefits with your paid taxes, you are no longer keen on paying those taxes.

[@richardmetcalf2346]

Thanks for the information!

[@Mike-METALS]

I bought some PM from the states and I was charged an extra 47 at customer and it was ebay I ordered from they didn't handle that for me

[@daviniarobbins9298]

At checkout there is an option to pay the import/VAT fees upfront. If you are buying from the secondary market you don't need to pay customs and if they did you can make claim with them to recover the taxes paid.

[@TwitchRadio]

Good for ebay... About time they start using their brain 😂

[@turokforever007]

The Tax man is behind it

[@24kGanksta]

I just checked and I DO NOT think this is in America

[@davidboyd4026]

Not in the USofA, or not yet😮

[@----Jay----]

They trial ran it in Germany, and now doing it in UK. Maybe USA later?

[@user-rz3fk5nb1y]

EBay fees will be higher in Aust they are 14+ % they already doing Australia But the fees are what the item sales and add the postage and you pay sales fee on the lot So you be getting higher fees when sell

[@dag2379able]

That offer from eBay does not exist in the US unfortunately.

[@thecoinniffler7905]

Just remember when you sell through ebay now the taxman will know everything, so it's not great for people trying to shift their goods without the government looking at you

[@TheSilverHoarder]

Nice stack

[@brucejensen3081]

Here in Australia you can earn 75k without paying gst. Once you pay gst you are classified as a business. If your not a business you dont pay tax. If your operating like a business and earning less than 75k you still have to pay tax. Not sure if its the same with coins/precious metal, i assume so, will have to check it out

[@wombat1184]

As a seller myself on eBay, I still have to pay fees, must not be available in Australia

[@brucejensen3081]

@@wombat1184 not that I have done much selling on ebay, I haven't heard anything about this before. With the capital gains stuff, it seems if you buy precious metal or coins for under $500 you don't pay it.

[@pewpewTN]

It's definitely still not free to sell here in the US.

[@RollerSkatinActor]

I have a very rare 1/4 oz 2024 Brittania Liberty BU coin for sale. There are none available for sale online inc Ebay. IMO there were less than 500 minted. I've been a nervous about selling it on Ebay but now I may now list it.

[@tallthinkev]

This is going to put a big dent in Reverb's business, they are still charging 5% on any music stuff

[@nobody00777]

Where did you get this no seller fees on Silver from eBay I don't think so

[@mint_mark]

I'm certainly not a tax advisor, but for CGT, I think foreign legal tender coins are chargeable, because they are currency (there's a CGT definition). Anything that is not currency, like bars, ingots or old coins, I think comes under the chattels exemption (each item chargeable if sold for > 6000). The accumulated chargeable gains in a year have to exceed a threshold before tax is due. That's how I understand it, at least before the budget. 03603 btw 😂

[@richardlove4287]

Not free here in Australia…..let’s hope the powers that be implement this internationally as it’s not a level playing field then.

[@jonodunn2592]

Did I miss the part where it will be worse? As a seller I’m over the moon

[@BackyardBullion]

I believe this will make more scammers come out of the woodwork as sellers

[@jonodunn2592]

@@BackyardBullion ok I got that bit thanks overall though it’s a lot more palatable to sell a 1oz gold coin with no fees plus if they take over the delivery process and take responsibility for it I think that’s a good thing as well but I agree scammers will try their luck

[@Goldylocksss]

I just put a lengthy interesting post on here but it's disappeared!😮

[@BackyardBullion]

KZbin sometimes auto deletes comments if they have links or certain words (swearing etc). Maybe that was it.

[@Goldylocksss]

Absolutely not, would NEVER put any obscene comments on your brilliant channel, it was just a thought on our collective CGT free gold sovs and britannias we have stacked for years when prices were well cheaper and the implications on selling if CGT exemption is removed and how much we will lose if we ever have to sell for any reason..😊

[@BackyardBullion]

Sorry, I didn't mean to come across that I was accusing you of swearing or anything. KZbin is a beast unto itself sometimes, it's a shame when you go to such lengths to make a contribution and KZbin deletes it.

[@Goldylocksss]

Thank you, no problem, always waiting to watch your new videos😊

[@loafersheffield]

A retired plumber has a channel. He asked, what is your favourite song of all time. I stated, Rush. Subdivisions, or Limelight. Torn! I explained a brief synopsis of the family background of their bassist and their guitarist, whose parents were incarcerated in camps, during WW2. It was autodeleted. I had to use euphemisms, before it was accepted. Moustache man.

[@secretstacker]

3603 great vid BYB 👍👍👍👍

[@ponyososuke6647]

Is it the same for 1kg silver bars

[@keithainsley6467]

but once you reach 1000 pound in sales ebay notify HMRC

[@BackyardBullion]

Yes, pay your taxes if they are due, it's good advice! If you are not selling as a trade or making a capital gain then you have to tell HMRC and you have nothing to worry about. Simple

[@rasbobbo]

I’ve this coin in proof. Nice big piece.

[@shanethrelfall416]

Unrelated question How do you eat yours?

[@BackyardBullion]

Bite the top off, scoop out the middle

[@fragdad]

Not got me, thank you ver much.😂

[@24kGanksta]

Wait I’m a Seller I’ve never heard this? Is this in US ALSO

[@royston2357]

Did you say 20% high and low 10% tax in England in Ireland it's 40% & 20% a joke

[@BackyardBullion]

For capital gains tax, yes. For income tax it's 40% and 20%

[@royston2357]

@@BackyardBullion fair enough I'd hate for ye to get one over on us 😁

[@Anrirua]

​@@royston2357 Well, you're sh1t out of luck then, and need to brush up on Irish tax law, as our CGT is 33%, above a yearly exemption of approximately €1250.

[@georgezipp8783]

Are saying they won't charge the 14 % of your revenue from selling ?

[@BackyardBullion]

Yes

[@georgezipp8783]

@@BackyardBullion I just read the fee info . They charge 13.25 % of sales under $ 7,500 for Bullion . Where do you see it's ZERO

[@BackyardBullion]

This is the UK. Maybe if you are US it's not rolled out to you yet.

[@georgezipp8783]

@@BackyardBullion I like the word YET . Fingers crossed !

[@sarumike]

Do you think this may impact your buyers club?

[@BackyardBullion]

I mean yeah it will definitely do so. It's easier for people to sell on their own!

[@sarumike]

@@BackyardBullion yeah but they won't have as large of a buying market as u do. I was thinking more of the prices. If ebayers lower their asking prices cos no fees then that could impact u.

[@BackyardBullion]

Well, if would affect the number of people willing to sell their silver at a reduced rate to accommodate the new market competition. It would put some off for sure. For those that still use my service I would make the same margin.

[@sarumike]

@@BackyardBullion interesting to see how the market reacts to this new seller

[@BulletMagnet83]

I just snapped up a brand-new-in-packaging half sov on ebay this morning for a reasonable price, and I hope the change brings more of them into my saved searches for a payday treat. Using ebay/paypal to conceal the fact I'm buying gold from my bank feels like a win and a middle finger up at the system, even if it is a relatively small amount. My exit plan is for my nephew to inherit it "off the books" so the less they know about it the better!

[@BackyardBullion]

You think you are hiding this fact?! That's hilarious, you know all the data of your purchase is passed over to HMRC. The exact purchase of said gold......

[@BulletMagnet83]

@@BackyardBullion Then I stand corrected and better informed! Not that I'm breaking any laws, but I guess I will have to eat crow and accept that no matter what I do or how I do it, "they" are always going to know. The delusion was fun while it lasted.

[@loafersheffield]

03603 "Oh, Canada!"

[@johnmorgan9731]

Can you get me a carded red dragon BYB?

[@johnabbiss43]

03603👍🏻

[@danielt879]

03603.. haha. Good news, i think. I will hopefully be able to get some good deals in the not to distant future. I just hope they dont start charging a buyer fee instead...

[@moeluv]

🍿👀

[@GhileMear250]

03603. Interesting developments in eBay land.

[@ginger8383]

Au Canada 🇨🇦

[@LloydMorgan78]

03603 😊

[@Villainous_Bounty]

First?

[@123bbbooobbb]

03603

[@TemplarsCreed]

03603 - yep, pay your taxes folks. Do not risk it!

[@shimsteriom4191]

03603/40000

[@MrLiloakes]

03603 🎉 😅

[@wasillastacker]

03603🫎🫎🫎

[@grahamh4960]

03603

[@charnockvideo]

03603

[@philipbant657]

03603

[@Aj-ui6jx]

03603

[@Mr_Flibble]

03603

[@ShinyPreciousMetals]

03603

[@BackyardBullion]

Thanks my man!

[@alans192]

03603

[@adamthomas3487]

03603

[@richardwebster2866]

03603

[@SilentStacker-au]

03603