Ebay: No more E-BUCKS for gold and silver purchases.

[wgadget]

I knew this day would come.

It actually starts October 1.

 

[ewizacft]

As always, eBay is committed to bringing you amazing deals on gold and silver. However, to do so, we can no longer offer eBay Bucks for purchases from the Bullion category within Coins & Paper Money. This change will take effect October 1, 2011. To learn more about earning and redeeming eBay Bucks, visit the Frequently Asked Questions page. And remember that you can always tell whether an item qualifies for eBay Bucks by looking for the earn amount below the price on the item description page.

To review the updated eBay Bucks Terms & Conditions, please visit http://pages.ebay.com/rewards/terms.html.

We appreciate your eBay Bucks membership and hope you'll continue to enjoy the benefits provided by the eBay Bullion Center, including great savings and fast, free shipping from Featured Sellers—and eBay Buyer Protection for your purchases.

Sincerely,

The eBay Bucks team

 

[cubical]

How did the ebuck thing work? It it similar to bing cashback?

 

[angelatc]

How did the ebuck thing work? It it similar to bing cashback?

Yes, if you buy something on eBay, you get a token rebate that you can spend on another eBay purchase. The rebate isn't instant, and they expire fairly quickly so if you're a casual shopper it's hard to make a significant stack of them.

I guess the goldz is too expensive now.

 

[Lovecraftian4Paul]

I don't quite get it. Why the change? Is it because precious metals are too expensive? And what about platinum, copper, and palladium?

 

[pmbug]

I'm guessing ebay was under pressure from PM sellers. From what I've read, ebay makes selling gold/silver unprofitable with all of their fees and policies. The e-bucks 2% cash back program is funded with money taken from the seller when PMs are sold AFAIK.

 

[bobbyw24]

eBay is a private company that can change and set its own rules.

It's like that free market in action or something

 

[angelatc]

I'm guessing ebay was under pressure from PM sellers. From what I've read, ebay makes selling gold/silver unprofitable with all of their fees and policies. The e-bucks 2% cash back program is funded with money taken from the seller when PMs are sold AFAIK.

That's simply not true. Participation in the eBay bucks program has no direct affect on the seller fees. I don't sell gold, and I wouldn't ever sell it on eBay, but when the market is hot the eBay prices tend to run higher than spot.

 

[bobbyw24]

I think the Fed Gov should step in a FORCE eBay to allow E Bucks for Silver purchases

 

[angelatc]

I think the Fed Gov should step in a FORCE eBay to allow E Bucks for Silver purchases

If they must force.....I'd rather see them force eBay to allow sellers accept payment in gold and silver. Note I said allow, not require.

 

[bobbyw24]

If they must force.....I'd rather see them force eBay to allow sellers accept payment in gold and silver. Note I said allow, not require.

I hear ya