Sales of gold up on eBay amid stock market turmoilSubmitted by cooper11 on Sun, 08/14/2011 - 16:10
Rachel Metz, AP Technology Writer, On Sunday August 14, 2011
SAN FRANCISCO (AP) -- For gold sellers on eBay, the recent stock market turmoil has been a boon for business.
Gold and silver sales on eBay had already been rising steadily over the past several years -- so much so that eBay Inc. created a special area in May to make it easier for buyers to find sellers.
Now, activity on that part of the site, the Bullion Center, is intensifying as consumers unnerved by the economic uncertainty flock to gold in hopes it will be a stable investment.
"When people are coming down to the question, `Do they want to have cash in the bank or gold in their hands?' the answer is they'd rather have gold or silver," said Jacob Chandler, CEO of Great Southern Coins, the largest seller of precious metals on eBay.